CluenexUnum UNM
Unum scores weak on business quality (2.3 of 10). Here is why, in plain words, and what our sealed record shows.
Why it matters
- What Unum does
Unum Group sells disability, life, and supplemental insurance products, collecting premiums from employers and individuals to cover income protection claims.
- What it does best
Unum maintains a disciplined approach to underwriting disability risk, holding an operating margin of 8.4% that outpaces peer MET at 7.4%. This edge rests on proprietary historical claims data that allows more accurate pricing than smaller rivals can replicate.
- The main risk
Interest rate sensitivity threatens the portfolio value, as fluctuating rates impact duration hedging and bond holdings. Without stable yields, investment income backing long-term policy obligations faces immediate pressure.
Quality, check by check
Scored against its own industry, from company filings.
Operating margin of 8.4% reflects tight underwriting discipline. However, low return on equity of 6.4% and an operating margin sector percentile of 6 show that the business struggles to scale profits efficiently.
The moat relies on enterprise switching costs via embedded employer benefit platforms. With an ROE of 6.4%, it sits in the bottom quartile of its sector, showing limited competitive insulation.
Revenue grew 1.5% to $13.3B, lagging broader sector momentum. This tepid top-line expansion sits in the bottom quartile of its sector, showing stagnant volume.
Debt-to-equity sits at 0.3x with interest coverage of 5.3x, keeping debt servicing manageable. Free cash flow came in at $693M, showing a softer trend compared to prior years.
Insiders
Executives and directors, from SEC Form 4 filings we read ourselves. Open market trades only; grants, option exercises and pre-planned sales left out.
3 sold $988K outside pre-planned sales.
Our sealed record on UNM
Verdicts appear here 30 days after we publish them; members see today's. Each one is in the nightly ledger, fingerprinted the night it was made.
The first sealed verdicts appear here on Oct 11, 2026.
Questions
Unum scores weak on the Cluenex quality check (2.3 of 10), measured against its own industry. Profitability is weak, moat weak, growth slow and financial health weak.
In the last 90 days of SEC Form 4 filings: 3 sold $988K outside pre-planned sales.
Nov 3, 2026, after the close.
See UNM today
- Today's verdict on UNM, and why
- Fair value with cautious, base and optimistic cases
- The exact price that would change the verdict
- Which stocks each signal names, the night it fires
Cite this page: Cluenex, “Unum (UNM)”, https://cluenex.com/stocks/unm/, data as of Oct 10, 2026.