WallStSmart

Lincoln National Corporation (LNC)vsUnum Group (UNM)

VS

Smart Verdict

WallStSmart Research — data-driven comparison

Lincoln National Corporation generates 40% more annual revenue ($18.27B vs $13.08B). LNC leads profitability with a 6.4% profit margin vs 5.7%. LNC appears more attractively valued with a PEG of 1.01. LNC earns a higher WallStSmart Score of 59/100 (C).

LNC

Buy

59

out of 100

Grade: C

Growth: 2.0Profit: 5.0Value: 8.7Quality: 4.8
Piotroski: 3/9

UNM

Buy

56

out of 100

Grade: C

Growth: 3.3Profit: 4.5Value: 7.3Quality: 4.8
Piotroski: 3/9
IV

Intrinsic Value Comparison

Multi-model valuation · Graham Formula

LNCUndervalued (+2.9%)

Margin of Safety

+2.9%

Fair Value

$39.64

Current Price

$35.93

$3.71 discount

UndervaluedFair: $39.64Overvalued
UNMSignificantly Overvalued (-145.9%)

Margin of Safety

-145.9%

Fair Value

$29.04

Current Price

$74.50

$45.46 premium

UndervaluedFair: $29.04Overvalued

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

LNC2 strengths · Avg: 10.0/10
P/E RatioValuation
6.2x10/10

Attractively priced relative to earnings

Price/BookValuation
0.7x10/10

Reasonable price relative to book value

UNM2 strengths · Avg: 9.0/10
Price/BookValuation
1.1x10/10

Reasonable price relative to book value

P/E RatioValuation
17.4x8/10

Attractively priced relative to earnings

Areas to Watch

LNC4 concerns · Avg: 2.5/10
Profit MarginProfitability
6.4%3/10

6.4% margin — thin

Piotroski F-ScoreQuality
3/93/10

Weak financial health signals

Revenue GrowthGrowth
-3.1%2/10

Revenue declined 3.1%

EPS GrowthGrowth
-60.7%2/10

Earnings declined 60.7%

UNM4 concerns · Avg: 3.3/10
Revenue GrowthGrowth
0.2%4/10

0.2% revenue growth

Return on EquityProfitability
6.7%3/10

ROE of 6.7% — below average capital efficiency

Profit MarginProfitability
5.7%3/10

5.7% margin — thin

Piotroski F-ScoreQuality
3/93/10

Weak financial health signals

Comparative Analysis Report

WallStSmart Research

Bull Case : LNC

The strongest argument for LNC centers on P/E Ratio, Price/Book. PEG of 1.01 suggests the stock is reasonably priced for its growth.

Bull Case : UNM

The strongest argument for UNM centers on Price/Book, P/E Ratio. PEG of 1.03 suggests the stock is reasonably priced for its growth.

Bear Case : LNC

The primary concerns for LNC are Profit Margin, Piotroski F-Score, Revenue Growth.

Bear Case : UNM

The primary concerns for UNM are Revenue Growth, Return on Equity, Profit Margin.

Key Dynamics to Monitor

LNC carries more volatility with a beta of 1.28 — expect wider price swings.

UNM is growing revenue faster at 0.2% — sustainability is the question.

UNM generates stronger free cash flow (320M), providing more financial flexibility.

Monitor INSURANCE - LIFE industry trends, competitive dynamics, and regulatory changes.

Bottom Line

LNC scores higher overall (59/100 vs 56/100). Both earn "Buy" and "Buy" ratings respectively — the choice depends on your investment horizon and risk tolerance.

This analysis is generated from publicly available financial data. Not financial advice.

Lincoln National Corporation

FINANCIAL SERVICES · INSURANCE - LIFE · USA

Lincoln National Corporation is an American holding company, which operates multiple insurance and investment management businesses through subsidiary companies. Lincoln Financial Group is the marketing name for LNC and its subsidiary companies.

Unum Group

FINANCIAL SERVICES · INSURANCE - LIFE · USA

Unum Group is a Chattanooga, Tennessee-based Fortune 500 insurance company formerly known as UnumProvident.

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