Lincoln National Corporation (LNC) vs Unum Group (UNM)

Lincoln National Corporation and Unum Group are both Insurance Life companies. Unum Group is the larger, with a market value of $11.7B against $7.5B — 1.6× the size. Lincoln National Corporation trades at the lower P/E: 2.4× against 52.2×. Lincoln National Corporation grew revenue faster over the last twelve months: 10.4% against −4.22%. Lincoln National Corporation has the higher net margin (15.7% vs 1.94%) and the lower return on invested capital (0.00% vs 1.32%). Both pay a dividend; Lincoln National Corporation yields more (4.56% vs 2.61%). Across the 21 metrics below, Lincoln National Corporation leads on 12 and Unum Group on 9.

Valuation

Metric LNC UNM Insurance Life median
P/E 2.38 52.24 11.34
P/S 0.38 0.94 0.81
P/B 0.73 1.09 1.08
Price to free cash flow 11.05 7.21 7.43
EV/EBITDA — — —
EV/Sales — — —
Earnings yield 41.96% 1.91% 8.82%
Free cash flow yield 9.05% 13.88% 13.20%

Profitability

Metric LNC UNM Insurance Life median
Gross margin 0.00% 30.80% 30.01%
Operating margin 0.00% 4.11% 8.83%
Net margin 15.74% 1.94% 9.93%
Free cash flow margin 3.40% 12.98% 15.40%
Return on equity 0.00% 2.25% 8.47%
Return on assets 0.76% 0.39% 0.50%
Return on invested capital 0.00% 1.32% 7.11%

Growth

Metric LNC UNM Insurance Life median
Revenue growth (TTM) 10.35% (4.22%) 4.80%
EPS growth (last fiscal year) (68.33%) (54.86%) (3.45%)
Revenue growth, 5-year CAGR 0.87% (0.13%) 1.33%
Net income growth, 5-year CAGR 16.83% (1.41%) 0.00%

Health

Metric LNC UNM Insurance Life median
Debt to equity 0.00 0.35 0.48
Current ratio 0.00 0.28 0.21
Net debt to EBITDA (2.07) 2.87 0.12

Dividend

Metric LNC UNM Insurance Life median
Dividend yield 4.56% 2.61% 2.28%
Payout ratio 0.11 1.37 0.28

Size

Metric LNC UNM Insurance Life median
Market cap 7.50b 11.71b 7.96b

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