Primerica, Inc. (PRI) vs Unum Group (UNM)

Primerica, Inc. and Unum Group are both Insurance Life companies. Unum Group is the larger, with a market value of $14.4B against $8.5B — 1.7× the size. Primerica, Inc. trades at the lower P/E: 11.1× against 21.5×. Primerica, Inc. grew revenue faster over the last twelve months: 8.57% against 3.42%. Primerica, Inc. has the higher net margin (23.2% vs 5.26%) and the higher return on invested capital (17.9% vs 3.94%). Both pay a dividend; Unum Group yields more (3.24% vs 1.10%). Across the 23 metrics below, Primerica, Inc. leads on 18 and Unum Group on 5.

Valuation

Metric PRI UNM Insurance Life median
P/E 11.05 21.47 12.15
P/S 2.51 1.10 0.75
P/B 3.41 1.36 1.12
Price to free cash flow 10.21 21.22 7.78
EV/EBITDA 7.87 14.80 8.42
EV/Sales 3.20 1.39 0.80
Earnings yield 9.05% 4.66% 8.23%
Free cash flow yield 9.80% 4.71% 11.12%

Profitability

Metric PRI UNM Insurance Life median
Gross margin 81.38% 33.34% 32.44%
Operating margin 30.60% 8.36% 11.31%
Net margin 23.20% 5.26% 6.61%
Free cash flow margin 24.54% 5.19% 15.04%
Return on equity 32.97% 6.35% 8.67%
Return on assets 5.38% 1.11% 0.67%
Return on invested capital 17.86% 3.94% 8.20%

Growth

Metric PRI UNM Insurance Life median
Revenue growth (TTM) 8.57% 3.42% 7.91%
EPS growth (last fiscal year) 67.10% (54.86%) —
Revenue growth, 5-year CAGR 8.22% (0.13%) 1.08%
Net income growth, 5-year CAGR 14.33% (1.41%) 0.00%

Health

Metric PRI UNM Insurance Life median
Debt to equity 0.66 0.35 0.48
Current ratio 0.33 0.28 0.21
Net debt to EBITDA 0.76 2.87 0.12

Dividend

Metric PRI UNM Insurance Life median
Dividend yield 1.10% 3.24% 2.41%
Payout ratio 0.22 0.18 0.17

Size

Metric PRI UNM Insurance Life median
Market cap 8.45b 14.42b 7.92b

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