UnitedHealth Group Incorporated (UNH)

NYSE: UNH · USD

$407

-3.57 (-0.9%)· Recorded snapshot

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StockMarketAgent Research · Analyzed 2026-09-21

Our latest published analysis: UNH rated Buy

UnitedHealth Group Incorporated's published Buy conclusion compares the analysis-date price with fair value and potential value. Read the full report for assumptions, evidence, and material risks.

Fair value

$448 / share

Potential value

$578 / share

Upside to FV

+18.9%

from $407

Moat

7/10

Narrow

Read full analysis →View archive · 24mo

9-phase methodology · same model in each published edition

Market cap	$338.3B
Revenue (ttm)	450.1B
Net income (ttm)	15.9B
EPS (ttm)	$17.5
Shares out	897.6M
P/E (trailing)	23.3x
P/E (forward)	16.7x
Dividend	$9.28 (2.28%)
Volume	2,955,783
Beta	0.61

Market data

Price

Recent price action with selectable time range.

Financial snapshot

Revenue (ttm): 450.1B
Net income (ttm): 15.9B
EPS (ttm): $17.5
P/E (trailing): 23.3x
P/E (forward): 16.7x
Market cap: $338.3B

Item	P1	P2	P3	P4	P5	Trend
Period	2021-12-31	2022-12-31	2023-12-31	2024-12-31	2025-12-31	Trend
Revenue	$287.60B	$324.16B	$371.62B	$400.28B	$447.57B	+11.7%
Gross profit	$69.65B	$79.62B	$90.96B	$89.40B	$82.92B	+4.5%
Operating income	$23.97B	$28.44B	$32.36B	$32.29B	$18.96B	-5.7%
Net income	$17.29B	$20.12B	$22.38B	$14.41B	$12.06B	-8.6%
EPS (diluted)	$18.08	$21.18	$23.86	$15.51	$13.23	-7.5%
EBITDA	$27.07B	$31.84B	$36.33B	$28.08B	$23.06B	-3.9%
R&D	—	—	—	—	—	—
SG&A	$42.58B	$47.78B	$54.63B	$53.01B	$59.59B	+8.8%

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Base and Bull scenarios

Base60%

Price target

$448.25

+18.9% from spot

The Base path represents the modal expectation where UnitedHealthcare maintains its market share and core profitability, while OptumHealth gradually narrows operating losses. Under this progression, operating margins trend toward normalized levels, supporting fair value expansion toward $448.25.

UnitedHealthcare sustains core operating profitability across commercial and government lines
OptumHealth steadily eliminates operating losses and returns to positive operating profit
Consolidated revenue and earnings per share expand at moderate single-digit rates

Bull20%

Price target

$578.10

+53.4% from spot

The Bull path requires OptumHealth care delivery margins to recover rapidly, commercial employer enrollment to gain market share, and effective contract repricing to outpace medical inflation. The reader would see confirmation through consecutive quarters of expanding operating margins in care delivery and accelerating earnings per share growth toward $578.10.

OptumHealth care delivery margins normalize rapidly toward historical profitability
Commercial enrollment growth accelerates, offsetting government reimbursement friction
Per-share earnings compound supported by steady share count reductions

Sensitivity: Ke × terminal growth

The highlighted cell is Fair value when every assumption sits at its base level ($448.25). Each row and column shows what Fair value becomes when one assumption moves.

Ke ↓ / g →	2.0%	2.5%	3.0%	3.5%	4.0%
6.0%	$553	$592	$643	$717	$833
7.0%	$473	$494	$521	$556	$603
8.0%	$420	$433	$448	$468	$492
9.0%	$381	$389	$399	$411	$426
10.0%	$351	$357	$364	$372	$381

Scorecard

Published factor rows and weighted composite

Calendar

Next earnings

Upcoming earnings date and setup when available.

Upcoming

DateLoading

Window—

EPS estimate—

Revenue estimate—

Sector percentile context

Refreshed 2026-10-28 19:55 UTC

Forward P/E16.7

P25 n/aP50 n/aP75 n/a

Trailing P/E24.1

P25 n/aP50 n/aP75 n/a

ROE15.8

P25 n/aP50 n/aP75 n/a

ROIC12.4

P25 n/aP50 n/aP75 n/a

Benchmarks · 1M

All UNH indicators

Market & fundamental data

Available fields

276

Groups with data

Currency

USD

Showing 276 of 276 available metrics for this ticker.

Profile and market data

Ticker identity, listing, currency, market cap, and source dates.

Metric	Value
Amount currency	USD
CIK code	0000731766
Company name	UnitedHealth Group Incorporated
Country	United States
Country code	US
CUSIP number	91324P102
Earnings date	2026-10-13
Earnings time	bmo
Employees	390,000
Employees change	-10,000
Employees growth	-2.5%
Enterprise value	$413.7B
Exchange	NYSE
Financial currency	USD
Financial report date	2026-09-30
First seen	2026-05-09
Fiscal year end	December
Founded	1977
In index	SP500, DOW30
Industry	Healthcare Plans
IPO date	1984-10-17
Is primary listing	Yes
Is SPAC	No
ISIN number	US91324P1021
Last 10-K release date	2026-03-02
Last earnings date	2026-10-13
Last refreshed	2026-10-28
Last stock split date	2005-05-31
Last stock split type	Forward
Market cap	$365.2B
Market cap category	Mega-Cap
Next earnings date	2027-01-26
Options	Yes
Price	$406.84
Price currency	USD
Sector	Healthcare
SIC code	6324
Stock price date	2026-10-28
Symbol	UNH
U.S. state	Minnesota
Website	https://www.unitedhealthgroup.com

Valuation

Multiples, yields, enterprise-value ratios, and valuation checks.

Metric	Value
Adjusted P/E ratio	19.93x
Average P/E ratio (10Y)	22.39x
Average P/E ratio (3Y)	25.01x
Average P/E ratio (5Y)	24.72x
Earnings yield	4.3%
EV/Earnings	26.42x
EV/EBIT	15.93x
EV/EBITDA	14.52x
EV/FCF	18.39x
EV/Sales	0.93x
FCF / EV yield	5.44%
FCF yield	6.15%
Forward EV/Sales	0.92x
Forward P/E	17.94x
Forward P/S	0.81x
Graham number	213.17764
Graham upside	-48.45%
Industry forward P/E	15.03x
Industry P/E	21.44x
Lynch fair value	$87.48
Lynch upside	-78.85%
P/(FCF - SBC) ratio	17.02x
P/(OCF - SBC) ratio	14.74x
P/B ratio	3.55x
P/E ratio	23.25x
P/FCF ratio	16.26x
P/OCF ratio	14.17x
P/S ratio	0.82x
PEG ratio	1.27x
Price / tangible book value	3.56x
Price/EBITDA ratio	12.84x
Sector forward P/E	23.56x
Sector P/E	50.13x

Profitability

Margins, returns on capital, cash conversion, and quality metrics.

Metric	Value
EBIT margin	5.85%
EBITDA margin	6.42%
Effective tax rate	15.54%
FCF margin	5.07%
Gross margin	20.05%
Operating margin	5.85%
Pretax margin	4.38%
Profit margin	3.53%
Profit per employee	$40,728
Profitable quarters	9
Profitable years	27
Revenue per employee	$1.2M
ROA	5.24%
ROA (5Y)	6.86%
ROCE	13.38%
ROE	15.77%
ROE (5Y)	20.42%
ROIC	12.39%
ROIC (5Y)	14.86%
SBC / revenue	0.23%
Tax / revenue	0.68%

Growth

Revenue, earnings, cash-flow, and forward growth indicators.

Metric	Value
EPS growth	-8.96%
EPS growth (Q)	75.93%
EPS growth (QoQ)	-24.56%
EPS growth 10Y	9.96%
EPS growth 3Y	-8.76%
EPS growth 5Y	1.66%
EPS growth quarters	2
EPS growth years	0
FCF growth	31.4%
FCF growth (Q)	-15.65%
FCF growth (QoQ)	-58.41%
FCF growth 3Y	-4.78%
FCF growth 5Y	-0.06%
Net income growth	-9.69%
Net income growth (Q)	75.04%
Net income growth (QoQ)	-25.05%
Net income growth 3Y	-9.86%
Net income growth 5Y	0.59%
Net income growth quarters	1
Net income growth years	0
OCF growth	24.99%
OCF growth (Q)	-13.83%
OCF growth (QoQ)	-53.65%
OCF growth 10Y	5.94%
OCF growth 3Y	-4.13%
OCF growth 5Y	0.76%
Revenue growth	3.42%
Revenue growth (Q)	-0.41%
Revenue growth (QoQ)	0.59%
Revenue growth 10Y	9.54%
Revenue growth 3Y	7.73%
Revenue growth 5Y	10.01%
Revenue growth quarters	126
Revenue growth years	33

Financial statements

Income-statement and cash-flow amounts, totals and per share.

Metric	Value
Capital expenditures	$-3.4B
EBIT	$26.3B
EBITDA	$28.9B
EPS	$17.50
FCF per share	$25.43
Financing cash flow	$-16.1B
Free cash flow	$22.8B
Free cash flow minus SBC	$21.8B
Gross profit	$90.2B
Income taxes	$3.1B
Investing cash flow	$-11.4B
Net borrowing	$-4.8B
Net cash flow	$-1.4B
Net income	$15.9B
Operating cash flow minus SBC	$25.2B
Operating income	$26.3B
Revenue	$450.1B
Stock-based compensation	$1B

Financial strength

Debt, cash, solvency, accounting-quality, and balance-sheet signals.

Metric	Value
Book value per share	$115.44
Debt / EBITDA	2.44
Debt / equity	0.7
Debt / FCF	3.26
Interest coverage	6.84
Net cash (debt)	$-48.5B
Net cash / market cap	-13.06%
Net debt / EBITDA	1.68
Net debt / equity	0.46
Net debt / FCF	2.12
Piotroski F-Score	6
Shareholders' equity	$105.5B
Tangible book value	$104.1B
Tangible book value per share	$115.44
Total assets	$312.8B
Total cash	$28.5B
Total debt	$74.3B
Total liabilities	$207.2B
WACC	7.09%

Liquidity

Current-asset coverage and working-capital efficiency metrics.

Metric	Value
Asset turnover	1.43
Current ratio	0.74
Net working capital	$-50.5B
Quick ratio	0.42
Working capital	$-30.2B

Dividends and buybacks

Dividend yield, payout, buybacks, and shareholder-yield indicators.

Metric	Value
Buyback yield / dilution	0.98%
Dividend growth	5.1%
Dividend growth (10Y)	14.95%
Dividend growth (3Y)	8.67%
Dividend growth (5Y)	10.9%
Dividend growth years	16
Dividend payment date	2026-09-22
Dividend payment years	34
Dividend payout frequency	Quarterly
Dividend per share	$9.28
Dividend yield	2.28%
Ex-dividend date	2026-09-14
FCF payout ratio	36.49%
Last dividend	$2.32
Payout ratio	53.04%
Shareholder yield	3.23%

Performance and technicals

Returns, volatility, beta, momentum, RSI, and moving-average context.

Metric	Value
10Y price change	186.78%
10Y return CAGR	12.98%
10Y total return	238.75%
150-day SMA	$384.65
15Y price change	727.69%
15Y return CAGR	17.04%
15Y total return	958.66%
1D price change	-0.87%
1M price change	8.09%
1M total return	8.09%
1W price change	-2.91%
1W total return	-2.91%
1Y price change	11.23%
1Y return CAGR	14.2%
1Y total return	14.19%
20-day SMA	$394.63
200-day SMA	$362.02
20Y price change	723.84%
20Y return CAGR	12.63%
20Y total return	979.96%
3M price change	-2.53%
3M total return	-1.93%
3Y price change	-22.41%
3Y return CAGR	-6.17%
3Y total return	-17.38%
50-day SMA	$389.31
50-day SMA vs 200-day SMA	50over200
52-week high	$461.62
52-week high date	2026-07-16
52-week low	$255.97
52-week low date	2026-03-27
5Y price change	-10.24%
5Y return CAGR	-0.35%
5Y total return	-1.75%
6M price change	14.77%
6M total return	16.13%
All-time high	$630.73
All-time high date	2024-11-11
All-time low	$0.08
All-time low date	1987-11-16
Average true range (ATR)	$11.05
Average volume	5.9M
Beta (1Y)	0.62
Beta (2Y)	0.41
Beta (5Y)	0.61
Change from 52-week high	-11.87%
Change from 52-week low	58.94%
Change from all-time high	-35.46%
Change from all-time low	496,314.63%
Change from open	-0.07%
Day's gap	-0.79%
Dollar volume	$1.2B
High price	$416.16
Low price	$405.00
Monthly RSI	51.48
Open price	$407.13
Position in 52-week range	16.49%
Premarket change	-0.52%
Premarket close	$410.39
Premarket price	$408.26
Premarket volume	17.7K
Previous close	$410.39
Price vs 150-day SMA	5.83%
Price vs 20-day SMA	3.15%
Price vs 200-day SMA	12.44%
Price vs 50-day SMA	4.56%
Relative volume	0.5
RSI	57.05
Sharpe ratio	0.45
Sharpe ratio (3Y)	-0.08
Sharpe ratio (5Y)	0.06
Sortino ratio	0.76
Sortino ratio (3Y)	0.03
Sortino ratio (5Y)	0.24
Volume	3M
Weekly RSI	58.41
YTD price change	23.31%
YTD total return	25.75%

Ownership and float

Institutional, insider, float, short-interest, and share-count fields.

Metric	Value
Float	895M
Float percentage	99.71%
Shares change (QoQ)	-0.44%
Shares change (YoY)	-0.98%
Shares held by insiders	0.17%
Shares held by institutions	88.98%
Shares outstanding	897.6M
Short % of float	1.78%
Short % of shares	1.78%
Short ratio	3.1 days

Other indicators

Additional ticker metrics that do not fit the primary research groupings.

Metric	Value
Page views	612

Deeper analysis on UNH

14 sections in the full report · jump straight to what you need

Forecast

Base and Bull forecast paths with report-date return framing.

→

Valuation

Fair-value bridge, DCF, owner earnings, and peer multiples.

→

Sensitivity

Cost-of-equity and terminal-growth stress table.

→

Risks

Kill scenarios, soft-pass flags, and downside catalysts.

→

Earnings

Next earnings setup and beat / inline / miss thresholds.

→

Position sizing

Entry, exit, conviction, and quarterly monitoring rules.

→

Financials

Revenue, margins, cash flow, and balance-sheet context.

→

Peers

Relative valuation and profitability against the cohort.

→

Moat

Economic-profit evidence and competitive advantage risk.

→

Industry cycle

Sector phase, capital cycle, and secular tailwinds.

→

Quote this valuation with its source: Fair value, Potential value and the price at analysis.

Frequently asked questions

About this UNH report

What is the latest published UNH stock rating?

UnitedHealth Group Incorporated is shown with Buy in the latest published report, analyzed 2026-09-21. The hub links directly to the full analysis surface where the dated rating, fair-value bridge, risks, and scorecard are documented together.

Where can I read the full UNH analysis?

The full latest published report, analyzed 2026-09-21, lives at /stocks/UNH/analysis. The bare ticker page summarizes that read and links to each analysis tab; earlier editions remain under /analysis/archive.

What fair value is used for UNH?

The latest published report analyzed 2026-09-21 gives UNH a fair value of USD 448 and a potential value of USD 578. These are dated research outputs, not live market prices; review the valuation assumptions, sensitivity analysis, and material risks before making a decision.

How often is the UNH page updated?

The hub selects the latest published stock report regardless of age and displays its analysis date (2026-09-21). Separately sourced market data is labeled with its own recorded timestamp and is never inferred from the report.

BuyUNH · Fair value $448+18.9%

Read full analysis →

UnitedHealth Group Incorporated (UNH)

Our latest published analysis: UNH rated Buy

Price

Financial snapshot

Fair-value bridge

Latest news · UNH

Valuation

Profitability

Balance sheet

Trading

Base and Bull scenarios

Sensitivity: Ke × terminal growth

Scorecard

Next earnings

Sector percentile context

All UNH indicators

Profile and market data

Valuation

Profitability

Growth

Financial statements

Financial strength

Liquidity

Dividends and buybacks

Performance and technicals

Ownership and float

Other indicators

Deeper analysis on UNH

Frequently asked questions

등급 이력

Category	Score	Reading
Valuation	7.5
Management	8.5
Balance Sheet	4.0
Profitability	5.0
Revenue Growth	4.5
Risk Assessment	6.0
Competitive Moat	7.0
Earnings Quality	9.0
Capital Efficiency	5.5