Stock · UNH · Healthcare
United States · Large Cap · listed since 1984 · Revenue 12 mo. $449.7B
Price as of 11/06/2026
Summary
43.7 of 100
Mean of the six area values. Each area value is the mean of the stock's ranks among the companies in its sector. 50 is the middle of the sector, not a share of companies beaten.
Analysis
What the price requires
If free cash flow stays at €14.4B (2025), it supports €160.3B. The remaining €162.4B of the market value assume it grows 9.8% a year for 10 years and not at all afterwards.
Required FCF growth per year
9.8%
no growth afterwards
Price to operating cash flow 13.6×, within its usual range.
Middle half of 20 quarters: 13.6× to 21.3×, median 16.4×.
Measures only against its own past, not against what the company is worth. Price as of 11/06/2026.
with respect to the priced-in expectation
with respect to the priced-in expectation
No anomaly in the stored figures.
AI summary of the 2025 annual report
A language model selected and condensed statements from the report. Each statement carries a verbatim quote. The selection is not complete and shows the state of the report. It gives no rating and does not feed into the score.
Form 10-K, fiscal year ended 12/31/2025, filed 03/02/2026. Open the report at the SEC
Optum Rx offers pharmacy care services through a network of approximately 64,000 retail pharmacies.
Optum Rx provides a full spectrum of pharmacy care services through its network of approximately 64,000 retail pharmaciesOptum Health offers arrangements in which it takes full responsibility for health care costs in exchange for a monthly premium.
Optum Health offerings include fully accountable value-based arrangements, where Optum Health assumes responsibility for health care costs in exchange for a monthly premiumUnder Medicare Advantage, UnitedHealthcare Medicare & Retirement provides health benefits in exchange for a fixed monthly premium per member from CMS and, in some cases, monthly premiums from consumers.
Under the Medicare Advantage program, UnitedHealthcare Medicare & Retirement provides health benefits coverage in exchange for a fixed monthly premium per member from CMS plus, in some cases, monthly consumer premiumsOptum Insight links the health care system with services, analytics and platforms that make clinical, administrative and financial processes simpler and more efficient for all participants.
Optum Insight connects the health care system with services, analytics and platforms that make clinical, administrative and financial processes simpler and more efficient for all participants in the health care systemUnitedHealthcare Community & State's main customers are government programs that oversee Medicaid plans, including CHIP and long-term services and supports.
UnitedHealthcare Community & State’s primary customers oversee Medicaid plans, including Temporary Assistance to Needy Families; Children’s Health Insurance Programs (CHIP); Dual SNPs (DSNPs); Long-Term Services and Supports (LTSS); Aged, Blind and Disabled; and other federal, state and community health care programsOptum Health sells mainly through its own sales force, partnerships and outside producers to employers and to payers, including health plans and third-party administrators.
Optum Health sells its products primarily through its direct sales force, strategic collaborations and external producers in three key areas: employers, including large, mid-sized and small employers; payers including health plans, third-party administrators (TPAs), underwriter/stop-loss carriers and individual product intermediariesOptum Rx serves health benefit providers, large national employer plans, unions, trusts, purchasing coalitions and public bodies.
Optum Rx serves health benefits providers, large national employer plans, unions and trusts, purchasing coalitions and public-sector entitiesThe company's competitors range from startups to very sophisticated Fortune 50 global enterprises, for-profit and non-profit companies, and private and government-sponsored entities.
Our competitors include organizations ranging from startups to highly sophisticated Fortune 50 global enterprises, for-profit and non-profit companies, and private and government-sponsored entitiesThe company says it competes mainly on the quality and value it provides, including product and service innovation, use of technology, engagement and satisfaction, and sales, marketing and pricing.
We compete fundamentally on the quality and value we provide to those we serve, which can include elements such as product and service innovation; use of technology; consumer and provider engagement and satisfaction; and sales, marketing and pricingAccountable Care Organizations and other provider structures may change the competitive landscape. Physician groups of this kind may compete directly with the company.
Accountable Care Organizations (ACOs), physician group management services organizations (which aggregate physician practices for administrative efficiency), and other organizational structures adopted by physicians, hospitals and other care providers may change the way in which these providers do business with us and may change the competitive landscape. Such organizations or groups of physicians may compete directly with usPremium revenue from risk-based products makes up nearly 80% of the company's total consolidated revenues.
Premium revenues from risk-based products constitute nearly 80% of our total consolidated revenuesCost increases above the company's forecasts typically cannot be recovered through higher premiums during the fixed premium period.
Cost increases in excess of our forecasts typically cannot be recovered in the fixed premium period through higher premiumsCMS has reduced or frozen Medicare Advantage benchmarks in the past, and further cuts to these benchmarks are possible.
For example, CMS in the past has reduced or frozen Medicare Advantage benchmarks, and additional cuts to Medicare Advantage benchmarks are possibleThe company's Change Healthcare business, which it had acquired recently, was subject to a cyberattack in 2024. The data involved contained protected health or personal information.
For example, we previously reported that our Change Healthcare business, which we had recently acquired, was subject to a cyberattack in 2024, in which the data involved contained protected health information or personally identifiable informationIn some markets, certain providers, such as hospitals or physician groups, may have significant market positions that could reduce the company's bargaining power.
In some markets, certain health care providers, particularly hospitals, physician and hospital organizations or multi-specialty physician groups, may have significant market positions which could diminish our bargaining powerSince the last quarter
Q2 → Q3 2026
8 more unchanged: Revenue, 12 mo., FCF, 12 mo., Gross margin, EBIT margin, FCF margin, Net debt, Shares outstanding, Return on equity
Derivation
Each area value is the average of its metrics' ranks within the sector (0 to 100, 50 is the middle). For metrics where lower is better, the rank is mirrored. The overall value is the average of the area values.
Price as of 11/06/2026.
| Metric | Stock | Sector median | Position in sector |
|---|---|---|---|
| Return on equity | 12.81% | 11.52% | Rank 59 |
| Return on capital (Greenblatt) | 176.21% | 32.55% | Rank 97 |
| EBIT margin | 4.24% | 18.31% | Rank 13 |
| FCF margin | 3.59% | 14.12% | Rank 15 |
| Gross margin | 18.53% | 60.99% | Rank 9 |
| Metric | Stock | Sector median | Position in sector |
|---|---|---|---|
| Revenue growth, 1 year | 11.81% | 8.04% | Rank 71 |
| Earnings growth, 3 years per year | −14.48% | 5.44% | Rank 14 |
| Earnings growth, 5 years per year | −3.74% | 7.00% | Rank 22 |
| Sustainable growth (ROE × retained earnings) | 0.81% | 3.66% | Rank 12 |
| Metric | Stock | Sector median | Position in sector |
|---|---|---|---|
| Earnings yield | 3.36% | 2.90% | Rank 57 |
| FCF yield | 4.47% | 3.63% | Rank 62 |
| EV/saleslower is better | 0.92 | 4.03 | Rank 87 |
| EV/EBITlower is better | 21.61 | 21.73 | Rank 52 |
| Metric | Stock | Sector median | Position in sector |
|---|---|---|---|
| Share price, 1 year | 12.97% | 8.66% | Rank 54 |
| Share price, 6 months | 4.21% | 24.27% | Rank 21 |
| Share price, 3 months | 1.96% | 15.42% | Rank 19 |
| Distance from 52-week high | −9.67% | −7.35% | Rank 41 |
| Metric | Stock | Sector median | Position in sector |
|---|---|---|---|
| Accruals (Sloan)lower is better | 0.34% | 0.30% | Rank 49 |
| Change in share countlower is better | −2.05% | 0.00% | Rank 78 |
| Dividend streak in years | 35 | 10 | Rank 97 |
| Price reaction to results, market-adjusted | −0.31% | 0.05% | Rank 45 |
| Metric | Stock | Sector median | Position in sector |
|---|---|---|---|
| Equity ratio | 30.40% | 48.40% | Rank 20 |
| Net debt/EBITDAlower is better | 2.18 | 1.11 | Rank 28 |
| Debt to equitylower is better | 0.83 | 0.48 | Rank 28 |
| Volatility, 1 yearlower is better | 34.61% | 31.42% | Rank 41 |
Ten years in figures
| Year | Revenue, $B | EBIT margin | FCF, $B | Shares | Net debt, $B |
|---|---|---|---|---|---|
| 2016 | 184.8 | 7.0% | 8.1 | 968M | 22.5 |
| 2017 | 201.2 | 7.6% | 11.6 | 985M | 19.7 |
| 2018 | 226.2 | 7.7% | 13.7 | 983M | 25.7 |
| 2019 | 242.2 | 8.1% | 16.4 | 966M | 29.7 |
| 2020 | 257.1 | 8.7% | 20.1 | 961M | 26.5 |
| 2021 | 287.6 | 8.3% | 19.9 | 956M | 24.6 |
| 2022 | 324.2 | 8.8% | 23.4 | 950M | 34.3 |
| 2023 | 371.6 | 8.7% | 25.7 | 938M | 42.0 |
| 2024 | 400.3 | 8.1% | 20.7 | 929M | 51.6 |
| 2025 | 447.6 | 4.2% | 16.1 | 910M | 54.0 |
3 of 7 StockScorer Score rules met · How the score is built
UnitedHealth Group Incorporated mainly meets criteria in the Valuation category. Result from 18 strategies checked.
UnitedHealth Group Incorporated is rated here with the StockScorer Score strategy, the flagship rule set. It compares return and cash-flow metrics with the median of the company's own sector and checks growth and price trend.
3 of 7 rules met
5 of 11 points
Detail data
Excerpt from 18 strategies checked. The full evaluation is visible after a free sign-up.
With a free account, you can see the match across all strategies checked in one complete overview.
Selected fundamental metrics for UnitedHealth Group Incorporated.
| Metric | Stock | Sector |
|---|---|---|
| P/E ratio | 29.8 | 30.0 |
| P/B ratio | 3.8 | 4.8 |
| Return on equity (ROE) | 12.8% | 11.5% |
| Equity ratio | 30.4% | 48.4% |
| Debt-to-equity (D/E) | 0.83 | 0.48 |
| Dividend yield | 2.3% | 1.3% |
How comparable stocks in the same sector score in the StockScorer model.
| Symbol | Company | Rating |
|---|---|---|
| UNH | UnitedHealth Group Incorporatedthis page | |
| CVS | CVS Health Corp | Low3.6 |
| ELV | Elevance Health Inc | Low3.6 |
| CI | The Cigna Group | Low4.5 |
| HUM | Humana Inc | locked |
| CNC | Centene Corp | locked |
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