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Unum’s history shows gradual premium and revenue growth, while earnings vary more sharply with claims, reserve experience, and investment results. Legacy closed-block exposures and portfolio marks can make GAAP earnings less smooth than the underlying premium base.
The latest quarter brought a pronounced reported earnings and revenue setback, but gross premiums earned still increased, so the results do not by themselves indicate a break in the premium-led model. Transaction-related investment impairments drove much of the reported deterioration, while elevated group-disability claims also pressured underlying results.
Whether transaction-related investment impairments recede while group-disability claims experience stabilizes.
| Metric | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| 8.6B | 8.8B | 9.2B | 9.6B | 9.6B | 9.7B | 9.9B | 10.3B | 10.8B | 11.1B | |
| 11.1B | 11.3B | 11.6B | 12B | 13.2B | 12B | 12B | 12.4B | 12.9B | 13.1B | |
| (9.5B) | (9.7B) | (10.8B) | (10.4B) | (12B) | (10.5B) | (10B) | (10.6B) | (10.4B) | (11.9B) | |
| (832m) | (844m) | (886m) | (898m) | (930m) | (975.2m) | (1.1B) | (1.2B) | (1.2B) | (1.2B) | |
| (8B) | (8.1B) | (9.1B) | (8.6B) | (10B) | (8.6B) | (8.1B) | (8.4B) | (8.2B) | (9.4B) | |
| 99m | 101m | 103m | 49m | (30m) | 71.1m | 135.8m | 150.8m | 130.5m | 170m | |
| (832m) | (863m) | (891m) | (944m) | (984m) | (985.4m) | (1B) | (1.1B) | (1.2B) | (1.5B) | |
| 1.5B | 1.6B | 813m | 1.6B | 1.2B | 1.5B | 1.9B | 1.8B | 2.5B | 1.1B | |
| (166m) | (160m) | (167m) | (177m) | (188m) | (185m) | (188.5m) | (194.8m) | (201.1m) | (208.8m) | |
| 166m | 159.9m | 167.3m | 177.4m | 188.2m | 185m | 188.5m | 194.8m | 201.1m | 208.8m | |
| (31m) | (8m) | (18m) | (53m) | (36m) | (81.2m) | (4.2m) | 0 | 0 | — | |
| 1.3B | 1.4B | 628m | 1.4B | 964m | 1.3B | 1.8B | 1.6B | 2.3B | 933.5m | |
| (416m) | (441m) | (104m) | (282m) | (171m) | (279.6m) | (342.8m) | (356.3m) | (472.2m) | (195m) | |
| 931m | 963m | 523m | 1.1B | 793m | 981m | 1.4B | 1.3B | 1.8B | 738.5m | |
| 931m | 994m | 523m | 1.1B | 793m | 981m | 1.4B | 1.3B | 1.8B | 738.5m | |
| 3.95 | 4.37 | 2.38 | 5.24 | 3.89 | 4.79 | 6.96 | 6.50 | 9.46 | 4.27 |
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Stock intrinsic value is the real worth of a company's stock, based on its financial health and performance.
Instead of looking at the stock's current market price, which can change due to people's opinions and emotions, intrinsic value helps us understand if a stock is truly a good deal or not.
By focusing on the company's actual financial strength, like its earnings and debts, we can make better decisions about which stocks to buy and when.
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