Globe Life vs Unum
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The short version
- Unum is the larger business, with $13.1B of revenue in fiscal 2025 against $6.0B for Globe Life, about 2.2 times as much.
- Globe Life grew revenue faster (3.7%, against 1.5%).
- Globe Life turned more of its sales into free cash flow (20.9% FCF margin, against 4.3%).
- Globe Life earned a higher return on the capital invested in it (16.0%, against 7.6%).
- Investors pay more for each dollar of Unum’s earnings: a P/E of 21.0x against 10.3x for Globe Life.
| Latest fiscal year | GL · FY25 | UNM · FY25 |
|---|---|---|
| Size | ||
| Market cap | $12.2B | $14.4B |
| Revenue | $6.0B | $13.1B |
| Free cash flow | $1.3B | $555M |
| Net income | $1.2B | $739M |
| Growth | ||
| Revenue growth | 3.7% | 1.5% |
| 5-year growth | 4.8% | −0.1% |
| Share count change | −8.0% | −8.1% |
| Profitability | ||
| Gross margin | — | — |
| Operating margin | — | — |
| Net margin | 19.4% | 5.7% |
| FCF margin | 20.9% | 4.3% |
| Return on capital | 16.0% | 7.6% |
| Return on equity | 20.6% | 6.7% |
| Balance sheet | ||
| Net debt | $2.2B | $593M |
| Net debt / EBITDA | 1.4x | 0.5x |
| Dividends and buybacks | $967M | $1.3B |
| Valuation & quality | ||
| P/E | 10.3x | 21.0x |
| Piotroski F-score | — | — |
Revenue
FY16
GL $3.9B
UNM $11.0B
FY17
GL $4.2B
UNM $11.3B
FY18
GL $4.3B
UNM $11.6B
FY19
GL $4.5B
UNM $12.0B
FY20
GL $4.7B
UNM $13.2B
FY21
GL $5.1B
UNM $12.0B
FY22
GL $5.2B
UNM $12.0B
FY23
GL $5.4B
UNM $12.4B
FY24
GL $5.8B
UNM $12.9B
FY25
GL $6.0B
UNM $13.1B
GL
UNM
Operating margin
FY16
GL 20.0%
UNM —
FY17
GL 19.8%
UNM —
FY18
GL 20.2%
UNM —
FY19
GL 20.3%
UNM —
FY20
GL 19.1%
UNM —
FY21
GL 24.0%
UNM —
FY22
GL 22.7%
UNM —
FY23
GL 23.2%
UNM —
FY24
GL —
UNM —
FY25
GL —
UNM —
GL
UNM
Free cash flow
FY16
GL $1.4B
UNM $1.0B
FY17
GL $1.4B
UNM $1.1B
FY18
GL $1.2B
UNM $1.4B
FY19
GL $1.3B
UNM $1.5B
FY20
GL $1.4B
UNM $350M
FY21
GL $1.4B
UNM $1.3B
FY22
GL $1.4B
UNM $1.3B
FY23
GL $1.4B
UNM $1.1B
FY24
GL $1.3B
UNM $1.4B
FY25
GL $1.3B
UNM $555M
GL
UNM
Return on capital
FY16
GL 10.0%
UNM 9.7%
FY17
GL 12.4%
UNM 9.9%
FY18
GL 9.9%
UNM 6.1%
FY19
GL 9.6%
UNM 11.1%
FY20
GL 7.7%
UNM 7.8%
FY21
GL 13.7%
UNM 10.9%
FY22
GL 19.3%
UNM 16.7%
FY23
GL 16.6%
UNM 13.1%
FY24
GL 16.5%
UNM 16.6%
FY25
GL 16.0%
UNM 7.6%
GL
UNM
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.