Discounted Cash Flow

Unum Group

UNM · Based on 10 years of SEC filings · Converted from GBP to USD

⚠ Cash flow predictability 66/100 (moderate) — FCF YoY std dev 48%, net income 48% (full history)

Average annual growth rates

Metric 10-Year 5-Year 3-Year
Sales
Free Cash Flow
Average (FCF & NI)
Net Income
Dividends

Average annual growth is the mean year-over-year change across each period.

Endpoint CAGR (better for long term trend)

Metric 10-Year 5-Year 3-Year
Sales
Free Cash Flow
Average (FCF & NI)
Net Income

Endpoint CAGR is the compound annual rate from the first to last year in each period.

Projections use average year-over-year growth. Change this in Settings.

Projected growth rate

Free cash flow growth
10-year: — 5-year: — 3-year: —
Averaged growth (FCF & NI)
10-year: — 5-year: — 3-year: —
Net income growth
10-year: — 5-year: — 3-year: —
Sales growth (not added to calculations)
10-year: — 5-year: — 3-year: —

Click a greyed-out slider to switch metrics. Slide between the 10-year, 5-year, and 3-year historic growth rates for FCF, net income, or their average.

%
%

Historical inputs (10 fiscal years)

YEAR Sales Net Income Free Cash Flow Net Margin EPS (diluted)
2016 $14.9b $1.3b $1.4b 8.4% $3.96
2017 $15.3b (2.2%) $1.3b (6.7%) $1.4b (1.3%) 8.8% (4.5%) $4.39 (10.9%)
2018 $15.7b (2.8%) $707.6m (-47.4%) $1.9b (33.4%) 4.5% (-48.8%) $2.38 (-45.8%)
2019 $16.2b (3.5%) $1.5b (110.2%) $2.2b (14.2%) 9.2% (103.2%) $5.25 (120.6%)
2020 $17.8b (9.7%) $1.1b (-27.9%) $646.8m (-69.9%) 6.0% (-34.3%) $3.89 (-25.9%)
2021 $16.2b (-8.7%) $1.1b (3.9%) $1.7b (167.0%) 6.9% (13.9%) $4.04 (3.9%)
2022 $16.2b (-0.2%) $1.8b (59.5%) $1.8b (3.1%) 11.0% (59.8%) $6.55 (62.1%)
2023 $16.7b (3.3%) $1.7b (-2.3%) $1.4b (-18.9%) 10.4% (-5.4%) $6.53 (-0.3%)
2024 $17.4b (4.0%) $2.4b (38.6%) $1.9b (29.9%) 13.8% (33.2%) $9.49 (45.3%)
2025 $17.7b (1.5%) $998.5m (-58.5%) $750.9m (-60.0%) 5.6% (-59.1%) $4.28 (-54.9%)

Base FCF: (latest fiscal year)

Discount rate: %

Terminal growth:

Projection period: years

Alt A decline yrs:

Alt B total yrs:

SEC filings report in GBP. Values above are converted to USD for comparison with the US-listed share price.

Values abbreviated: b = billions, m = millions, k = thousands.

Projected cash flows

Year Projected cash flow Discount Factor Present Value

PV of projected FCF:

Terminal FCF:

Terminal value:

PV of terminal value:

Enterprise value (DCF):

DCF price per share:

Current price:

Alternative DCF Models

Model Fair Value Upside PV(FCFs) PV(Terminal) Total Years
Standard (10yr→TV) 10 + TV
Alt A (Gradual Decline)
Alt B (30yr Hard Stop) N/A

This is a simplified DCF model for illustration. It uses reported free cash flow, a single growth assumption, fixed WACC, and a Gordon Growth terminal value. It is not investment advice.

+ 10YR Financials Balance Sheet (10YR) Cash Flow (10YR) DCF Model