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Unum cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$530M in Q3 2026 · $1.6B over twelve months

Operating cash flow$562M
Capital spending−$31.9M
Free cash flow+$530M

Analysis

In Q3 2026, Unum generated $562M of operating cash flow and spent $31.9M on capital projects, leaving free cash flow of $530M. That is $932M more than in Q3 2025 (−$403M).

Over the twelve months to Sep 30, 2026, operating cash flow was $1.8B; the largest uses were other investing ($1.3B), buybacks ($1.1B), dividends ($309M); besides operations, cash came from other financing ($1.0B), shares issued ($5.4M); the cash balance fell by $48.0M.

Operating cash flow was $562M against net income of −$420M. The largest differences: gains on investments +$853M, receivables +$362M, income taxes payable −$129M.

Free cash flow

Unum: free cash flow by quarterUnum: free cash flow by quarter$454MQ4 2024$318MQ1 2025$320MQ2 2025−$403MQ3 2025$320MQ4 2025$301MQ1 2026$474MQ2 2026$530MQ3 2026
Operating cash flow less capital spending.
Unum: operating cash flow against capital spendingUnum: operating cash flow against capital spendingOperating cash flowCapital spending$486M$32.0MQ4 2024$354M$35.8MQ1 2025$348M$27.9MQ2 2025−$372M$30.8MQ3 2025$358M$37.8MQ4 2025$341M$39.6MQ1 2026$504M$29.2MQ2 2026$562M$31.9MQ3 2026
Latest (Q3 2026): Operating cash flow $562M, Capital spending $31.9M.

Capital allocation, year by year

Unum: where the cash came from (up) and went (down), by fiscal yearUnum: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedCapital spendingBuybacksDividendsFY2021: Operating cash flow $1.4BFY2021: Net borrowing $88.1MFY2021: Shares issued $7.2MFY2021: Capital spending −$110MFY2021: Buybacks −$50.0MFY2021: Dividends −$239M$1.5BFY2021FY2022: Operating cash flow $1.4BFY2022: Net borrowing −$14.8MFY2022: Shares issued $8.2MFY2022: Capital spending −$102MFY2022: Buybacks −$200MFY2022: Dividends −$254M$1.4BFY2022FY2023: Operating cash flow $1.2BFY2023: Net borrowing −$2.0MFY2023: Shares issued $10.4MFY2023: Capital spending −$135MFY2023: Buybacks −$250MFY2023: Dividends −$277M$1.2BFY2023FY2024: Operating cash flow $1.5BFY2024: Net borrowing $41.6MFY2024: Shares issued $12.0MFY2024: Capital spending −$126MFY2024: Buybacks −$973MFY2024: Dividends −$296M$1.6BFY2024FY2025: Operating cash flow $688MFY2025: Net borrowing $21.0MFY2025: Shares issued $10.2MFY2025: Capital spending −$132MFY2025: Buybacks −$1.0BFY2025: Dividends −$306M$719MFY2025
Over these 5 years operating cash flow totalled $6.2B; the largest uses were buybacks ($2.5B) and dividends ($1.4B). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$280M
Debt$3.8B
Net debt$3.5B

Unum funds itself: free cash flow was $1.6B over the last twelve months, and $280M of cash and investments stands against $3.8B of debt.

Unum: debt maturities by year (FY2025)Unum: debt maturities by year (FY2025)$354MYear 4$400MYear 5$3.2BAfter year 5
Principal due in each year as disclosed in the annual report, against $280M of cash and investments now.

Where the cash came from and went

Unum: sources (+) and uses (−) of cash, Q3 2026Unum: sources (+) and uses (−) of cash, Q3 2026Other investing−$804MOther financing$632MOperating cash flow$562MBuybacks−$198MCash drawn (+) / kept (−)−$80.7MDividends−$80.0MCapital spending−$31.9MShares issued$1.6M
Unum: sources (+) and uses (−) of cash, TTM to Q3 2026Unum: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow$1.8BOther investing−$1.3BBuybacks−$1.1BOther financing$1.0BDividends−$309MCapital spending−$138MCash drawn (+) / kept (−)$48.0MNet borrowing (+) / repaid (−)−$7.2MShares issued$5.4M

From profit to cash

Unum: net income to operating cash flow, Q3 2026Unum: net income to operating cash flow, Q3 2026Net income−$420MDepreciation & amortization$34.1MDeferred taxes$14.1MGains on investments$853MOther non-cash$1.4MReceivables$362MAccrued liabilities$56.7MIncome taxes payable−$129MOperating cash flow$562M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingBuybacksDividendsNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026$562M−$31.9M−$198M−$80.0M—$1.6M−$80.7M$530M
Q2 2026$504M−$29.2M−$210M−$73.6M—$1.4M−$6.6M$474M
Q1 2026$341M−$39.6M−$399M−$78.2M−$7.2M$1.6M−$34.4M$301M
Q4 2025$358M−$37.8M−$258M−$77.3M$296M$800K$170M$320M
Q3 2025−$372M−$30.8M−$251M−$78.4M—$1.5M$867M−$403M
Q2 2025$348M−$27.9M−$300M−$73.4M—$1.4M−$957M$320M
Q1 2025$354M−$35.8M−$200M−$77.1M—$1.4M−$74.9M$318M
Q4 2024$486M−$32.0M−$473M−$77.2M—$1.2M$600K$454M

Unum: income statement and cash flow

Unum, Q3 2026: revenue $2.5B (-25% year over year), operating margin -21.6%. The chart follows the revenue to costs, profit and cash.

Unum: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.