<p>Unum Group (UNM) 刚刚推出了一项新的 10 亿美元股票回购计划，这一举措表明管理层认为该股票具有潜在价值，并打算继续向股东返还现金。</p>
<p>查看我们对 Unum Group 的最新分析。</p>
<p>这种信心在相对稳定的价格背景下显现，最新股价为 73.38 美元，90 天的股价回报略显负面。同时，约 102% 的强劲三年总股东回报表明长期动能依然强劲。</p>
<p>如果这种资本回报故事吸引你，现在可能是看看其他机会并探索高内部持股的快速增长股票的好时机。</p>
<p>随着分析师对当前价格的上行预期和估值指标暗示折扣，关键问题是 Unum Group 是否仍被低估，或者市场是否已经在定价其未来增长。</p>
<h2>最受欢迎的叙述：21.2% 低估</h2>
<p>与 Unum Group 上次收盘价 73.38 美元相比，最广泛关注的叙述指出基于长期基本面的公允价值显著更高。</p>
<blockquote>
<p><em>雇主对员工和自愿福利的关注不断扩大，加上竞争激烈的劳动力市场推动对补充产品的认识，使得 Unum 能够交叉销售更多解决方案并渗透新市场，支撑保费和经常性收入的增长。</em></p>
</blockquote>
<p>阅读完整叙述。</p>
<p>好奇稳定的保费增长、变化的利润率和更丰富的收益组合如何仍能证明未来的倍数高于今天，即使在回购和去风险化措施重塑股本和利润基础之后？解锁该估值判断背后的完整策略。</p>
<p><strong>结果：公允价值为 93.08 美元（低估）</strong></p>
<p>完整阅读叙述，了解预测背后的原因。</p>
<p>然而，较高的福利比率和长期护理的持续压力可能会对利润率和资本造成压力，这可能迫使投资者重新评估这种乐观的估值路径。</p>
<p>了解 Unum Group 叙述的关键风险。</p>
<h2>估值的另一种角度</h2>
<p>在基于收益的指标上，Unum 的情况不那么明确。该股票的市盈率约为 13.4 倍，高于美国保险行业的 12.8 倍和主要同行的 9.2 倍，但仍低于 18.8 倍的公允比率。这使得投资者需要权衡潜在的上行空间与倍数压缩的风险。</p>
<p>查看数字对这个价格的看法——在我们的估值分析中了解更多。</p>
<p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/727abad6-16a9-4329-b9fc-66ffc63bdf6f/chart/pe-multiple-vs-industry?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="1640" height="650" original-src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/727abad6-16a9-4329-b9fc-66ffc63bdf6f/chart/pe-multiple-vs-industry"/></p>
<p>NYSE:UNM 截至 2025 年 12 月的市盈率</p>
<h2>构建你自己的 Unum Group 叙述</h2>
<p>如果你有不同的看法或想自己深入研究数字，可以在几分钟内构建个性化视图：按你的方式进行。</p>
<p>你对 Unum Group 研究的一个很好的起点是我们的分析，强调 4 个关键奖励和 2 个可能影响你投资决策的重要警示信号。</p>
<h2>寻找更多投资想法？</h2>
<p>在你继续之前，你可能想通过使用 Simply Wall Street 筛选器探索下一个潜在机会，发现符合你策略的集中想法。</p>
<ul>
<li>通过这 15 只收益率超过 3% 的股息股票来瞄准收入流，这可以帮助增强你投资组合的现金流。</li>
<li>通过扫描这 895 只基于现金流的低估股票，探索潜在的市场错误定价，这些股票可能低于一些内在价值的估计。</li>
<li>通过关注这 27 只与智能技术采用相关的 AI 便士股票，寻找结构性增长趋势。</li>
</ul>
<p><em>这篇文章由 Simply Wall St 撰写，内容具有一般性。<strong>我们提供基于历史数据和分析师预测的评论，仅使用无偏见的方法，我们的文章并不旨在提供财务建议。</strong> 它不构成买卖任何股票的推荐，也不考虑你的目标或财务状况。我们旨在为你提供以基本数据驱动的长期分析。请注意，我们的分析可能未考虑最新的价格敏感公司公告或定性材料。Simply Wall St 在提到的任何股票中没有持仓。</em></p>

UNUM保险-6.250% Junior Subordinated Notes due 2058

<p>Unum Group 宣布了一项价值 10 亿美元的股票回购计划，表明管理层对股票价值的信心。尽管过去 90 天的股价回报略显负面，但该公司在过去三年的总股东回报率达到了 102%。分析师们看到潜在的上涨空间，认为该股票相较于当前价格 73.38 美元被低估了 21.2%。然而，较高的福利比率和长期护理的挑战可能会影响利润率。该股票的市盈率为 13.4 倍，高于行业平均水平，但低于合理的 18.8 倍</p>

<p>Unum Group (UNM) just put a fresh $1 billion share repurchase program on the table, a move that signals management sees potential value in the stock and intends to continue returning cash to shareholders.</p>
<div class="lb-trans"><p>Unum Group (UNM) 刚刚推出了一项新的 10 亿美元股票回购计划，这一举措表明管理层认为该股票具有潜在价值，并打算继续向股东返还现金。</p>
</div><p>See our latest analysis for Unum Group.</p>
<div class="lb-trans"><p>查看我们对 Unum Group 的最新分析。</p>
</div><p>That confidence is playing out against a steadier price backdrop, with the latest share price at $73.38 and a modestly negative 90 day share price return. At the same time, a powerful three year total shareholder return of around 102% suggests longer term momentum is still very much intact.</p>
<div class="lb-trans"><p>这种信心在相对稳定的价格背景下显现，最新股价为 73.38 美元，90 天的股价回报略显负面。同时，约 102% 的强劲三年总股东回报表明长期动能依然强劲。</p>
</div><p>If this kind of capital return story appeals to you, it could be a good moment to see what else is out there and explore fast growing stocks with high insider ownership.</p>
<div class="lb-trans"><p>如果这种资本回报故事吸引你，现在可能是看看其他机会并探索高内部持股的快速增长股票的好时机。</p>
</div><p>With analysts seeing upside to the current price and valuation metrics hinting at a discount, the key question now is whether Unum Group remains undervalued or if the market is already pricing in its future growth.</p>
<div class="lb-trans"><p>随着分析师对当前价格的上行预期和估值指标暗示折扣，关键问题是 Unum Group 是否仍被低估，或者市场是否已经在定价其未来增长。</p>
</div><h2>Most Popular Narrative: 21.2% Undervalued</h2>
<div class="lb-trans"><h2>最受欢迎的叙述：21.2% 低估</h2>
</div><p>Compared to Unum Group's last close at $73.38, the most widely followed narrative points to a notably higher fair value based on long term fundamentals.</p>
<div class="lb-trans"><p>与 Unum Group 上次收盘价 73.38 美元相比，最广泛关注的叙述指出基于长期基本面的公允价值显著更高。</p>
</div><blockquote>
<p><em>The expanding focus among employers on employee and voluntary benefits, along with increasing awareness of supplemental products driven by a competitive labor market, is allowing Unum to cross sell more solutions and penetrate new market segments, underpinning premium and recurring revenue growth.</em></p>
</blockquote>
<div class="lb-trans"><blockquote>
<p><em>雇主对员工和自愿福利的关注不断扩大，加上竞争激烈的劳动力市场推动对补充产品的认识，使得 Unum 能够交叉销售更多解决方案并渗透新市场，支撑保费和经常性收入的增长。</em></p>
</blockquote>
</div><p>Read the complete narrative.</p>
<div class="lb-trans"><p>阅读完整叙述。</p>
</div><p>Curious how steady premium growth, shifting margins, and a richer earnings mix can still justify a higher future multiple than today, even after buybacks and derisking moves reshape the share count and profit base? Unlock the full playbook behind that valuation call.</p>
<div class="lb-trans"><p>好奇稳定的保费增长、变化的利润率和更丰富的收益组合如何仍能证明未来的倍数高于今天，即使在回购和去风险化措施重塑股本和利润基础之后？解锁该估值判断背后的完整策略。</p>
</div><p><strong>Result: Fair Value of $93.08 (UNDERVALUED)</strong></p>
<div class="lb-trans"><p><strong>结果：公允价值为 93.08 美元（低估）</strong></p>
</div><p>Have a read of the narrative in full and understand what's behind the forecasts.</p>
<div class="lb-trans"><p>完整阅读叙述，了解预测背后的原因。</p>
</div><p>However, elevated benefit ratios and lingering long term care headwinds could pressure margins and capital, which may force investors to reassess that optimistic valuation path.</p>
<div class="lb-trans"><p>然而，较高的福利比率和长期护理的持续压力可能会对利润率和资本造成压力，这可能迫使投资者重新评估这种乐观的估值路径。</p>
</div><p>Find out about the key risks to this Unum Group narrative.</p>
<div class="lb-trans"><p>了解 Unum Group 叙述的关键风险。</p>
</div><h2>Another Angle on Valuation</h2>
<div class="lb-trans"><h2>估值的另一种角度</h2>
</div><p>On earnings based metrics, Unum looks less clear cut. The shares trade at about 13.4 times earnings, richer than both the US insurance sector on 12.8 times and key peers on 9.2 times, yet still below a fair ratio of 18.8 times. This leaves investors to weigh potential upside against the risk of multiple compression.</p>
<div class="lb-trans"><p>在基于收益的指标上，Unum 的情况不那么明确。该股票的市盈率约为 13.4 倍，高于美国保险行业的 12.8 倍和主要同行的 9.2 倍，但仍低于 18.8 倍的公允比率。这使得投资者需要权衡潜在的上行空间与倍数压缩的风险。</p>
</div><p>See what the numbers say about this price — find out in our valuation breakdown.</p>
<div class="lb-trans"><p>查看数字对这个价格的看法——在我们的估值分析中了解更多。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/727abad6-16a9-4329-b9fc-66ffc63bdf6f/chart/pe-multiple-vs-industry" alt="" original-src="https://images.simplywall.st/company/727abad6-16a9-4329-b9fc-66ffc63bdf6f/chart/pe-multiple-vs-industry"/></p>
<p>NYSE:UNM PE Ratio as at Dec 2025</p>
<div class="lb-trans"><p>NYSE:UNM 截至 2025 年 12 月的市盈率</p>
</div><h2>Build Your Own Unum Group Narrative</h2>
<div class="lb-trans"><h2>构建你自己的 Unum Group 叙述</h2>
</div><p>If you see things differently or want to dig into the numbers yourself, you can build a personalized view in just minutes: Do it your way.</p>
<div class="lb-trans"><p>如果你有不同的看法或想自己深入研究数字，可以在几分钟内构建个性化视图：按你的方式进行。</p>
</div><p>A great starting point for your Unum Group research is our analysis highlighting 4 key rewards and 2 important warning signs that could impact your investment decision.</p>
<div class="lb-trans"><p>你对 Unum Group 研究的一个很好的起点是我们的分析，强调 4 个关键奖励和 2 个可能影响你投资决策的重要警示信号。</p>
</div><h2>Looking for more investment ideas?</h2>
<div class="lb-trans"><h2>寻找更多投资想法？</h2>
</div><p>Before you move on, you may want to explore your next potential opportunity by using the Simply Wall Street Screener to uncover focused ideas that match your strategy.</p>
<div class="lb-trans"><p>在你继续之前，你可能想通过使用 Simply Wall Street 筛选器探索下一个潜在机会，发现符合你策略的集中想法。</p>
</div><ul>
<li>Target income streams with these 15 dividend stocks with yields &gt; 3% that can help strengthen your portfolio’s cash flow.</li>
<li>Explore potential market mispricing by scanning these 895 undervalued stocks based on cash flows that may be trading below some estimates of intrinsic worth.</li>
<li>Look for structural growth trends by focusing on these 27 AI penny stocks related to the adoption of intelligent technologies.</li>
</ul>
<div class="lb-trans"><ul>
<li>通过这 15 只收益率超过 3% 的股息股票来瞄准收入流，这可以帮助增强你投资组合的现金流。</li>
<li>通过扫描这 895 只基于现金流的低估股票，探索潜在的市场错误定价，这些股票可能低于一些内在价值的估计。</li>
<li>通过关注这 27 只与智能技术采用相关的 AI 便士股票，寻找结构性增长趋势。</li>
</ul>
</div><p><em>This article by Simply Wall St is general in nature. <strong>We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice.</strong> It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.</em></p>
<div class="lb-trans"><p><em>这篇文章由 Simply Wall St 撰写，内容具有一般性。<strong>我们提供基于历史数据和分析师预测的评论，仅使用无偏见的方法，我们的文章并不旨在提供财务建议。</strong> 它不构成买卖任何股票的推荐，也不考虑你的目标或财务状况。我们旨在为你提供以基本数据驱动的长期分析。请注意，我们的分析可能未考虑最新的价格敏感公司公告或定性材料。Simply Wall St 在提到的任何股票中没有持仓。</em></p>
</div>

Unum Group (UNM)：在宣布 10 亿美元股票回购计划后进行估值审查