UnitedHealth (UNH)
Market Price (9/18/2025): $342.9 | Market Cap: $311.0 BilSector: Health Care | Industry: Managed Health Care
UnitedHealth (UNH)
Market Price (9/18/2025): $342.9Market Cap: $311.0 BilSector: Health CareIndustry: Managed Health Care
Investment Highlights
Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 9.4%, Dividend Yield is 2.5%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 4.9%, FCF Yield is 8.2% | Weak multi-year price returns2Y Excs Rtn is -74%, 3Y Excs Rtn is -93% | |
Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -42% | ||
Attractive cash flow generationCFO LTM is 29 Bil, FCF LTM is 25 Bil | ||
Low stock price volatilityVol 12M is 49% |
Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 9.4%, Dividend Yield is 2.5%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 4.9%, FCF Yield is 8.2% |
Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -42% |
Attractive cash flow generationCFO LTM is 29 Bil, FCF LTM is 25 Bil |
Low stock price volatilityVol 12M is 49% |
Weak multi-year price returns2Y Excs Rtn is -74%, 3Y Excs Rtn is -93% |
Market Valuation
9/18/25 | 2024 | 2023 | 2022 | 2021 | |
---|---|---|---|---|---|
Share Price CYE | $342.90 | $497.02 | $509.30 | $505.28 | $472.50 |
Market Cap CYE ($ Bil) | 311.0 | 456.3 | 469.6 | 471.9 | 444.2 |
Total Debt ($ Bil) | 79.2 | 76.9 | 62.5 | 57.6 | 46.0 |
Total Cash ($ Bil) | 32.0 | 29.1 | 29.6 | 27.9 | 23.9 |
Enterprise Value ($ Bil) | 358.2 | 533.2 | 532.1 | 529.5 | 490.2 |
Valuation Ratios | |||||
P/S TTM | 0.7 | 1.2 | 1.3 | 1.5 | 1.6 |
P/EBIT TTM | 10.1 | 19.4 | 15.1 | 17.5 | 19.8 |
P/E TTM | 14.6 | 32.3 | 21.8 | 24.7 | 27.4 |
Sector Ratios | |||||
P/S TTM (Sector) | 3.8 | 3.6 | 4.1 | 4.5 | 7.3 |
P/EBIT TTM (Sector) | -1.6 | -1.3 | -1.4 | -1.3 | -2.9 |
P/E TTM (Sector) | -1.8 | -1.5 | -1.5 | -1.3 | -2.9 |
9/18/25 | 2024 | 2023 | |
---|---|---|---|
Share Price CYE | $342.90 | $497.02 | $509.30 |
Market Cap CYE ($ Bil) | 311.0 | 456.3 | 469.6 |
Total Debt ($ Bil) | 79.2 | 76.9 | 62.5 |
Total Cash ($ Bil) | 32.0 | 29.1 | 29.6 |
Enterprise Value ($ Bil) | 358.2 | 533.2 | 532.1 |
Valuation Ratios | |||
P/S TTM | 0.7 | 1.2 | 1.3 |
P/EBIT TTM | 10.1 | 19.4 | 15.1 |
P/E TTM | 14.6 | 32.3 | 21.8 |
Sector Ratios | |||
P/S TTM (Sector) | 3.8 | 3.6 | 4.1 |
P/EBIT TTM (Sector) | -1.6 | -1.3 | -1.4 |
P/E TTM (Sector) | -1.8 | -1.5 | -1.5 |
Business Description
UnitedHealth Group Incorporated operates as a diversified health care company in the United States. It operates through four segments: UnitedHealthcare, Optum Health, Optum Insight, and Optum Rx. The UnitedHealthcare segment offers consumer-oriented health benefit plans and services for national employers, public sector employers, mid-sized employers, small businesses, and individuals; health care coverage and well-being services to individuals age 50 and older addressing their needs for preventive and acute health care services, as well as services dealing with chronic disease and other specialized issues for older individuals; Medicaid plans, children's health insurance and health care programs; health and dental benefits; and hospital and clinical services.
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Price Returns Compared
Expand for Detailed View2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Total [1] | |
---|---|---|---|---|---|---|---|
Returns | |||||||
UNH Return | 21% | 45% | 7% | 1% | -2% | -31% | 31% |
Peers Return | 12% | 34% | 11% | -6% | -26% | -0% | 16% |
S&P 500 Return | 16% | 27% | -19% | 24% | 23% | 12% | 104% |
[1] Cumulative total returns since the beginning of 2020
[2] Peers: CVS, CI, HUM, CNC, MOH. See UNH Returns vs. Peers.
[3] 2025 data is for the year up to 9/17/2025 (YTD)
Latest Trefis Analyses
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons for UnitedHealth
Financials
Median | |
---|---|
Name | |
Mkt Price | 222.85 |
Mkt Cap | 56.4 |
Rev LTM | 216,328 |
Op Inc LTM | 6,434 |
FCF LTM | 4,190 |
FCF 3Y Avg | 6,234 |
CFO LTM | 5,188 |
CFO 3Y Avg | 7,330 |
Growth & Margins
Median | |
---|---|
Name | |
Rev Chg LTM | 11.4% |
Rev Chg 3Y Avg | 11.3% |
Rev Chg Q | 14.3% |
QoQ Delta Rev Chg LTM | 3.4% |
Op Mgn LTM | 3.3% |
Op Mgn 3Y Avg | 4.0% |
QoQ Delta Op Mgn LTM | -0.6% |
CFO/Rev LTM | 2.3% |
CFO/Rev 3Y Avg | 3.9% |
FCF/Rev LTM | 1.8% |
FCF/Rev 3Y Avg | 3.1% |
Valuation
Median | |
---|---|
Name | |
Mkt Cap | 56.4 |
P/S | 0.3 |
P/EBIT | 9.4 |
P/E | 15.3 |
P/CFO | 10.7 |
Total Yield | 9.3% |
Dividend Yield | 1.6% |
FCF Yield 3Y Avg | 8.1% |
D/E | 0.4 |
Net D/E | 0.1 |
Returns
Median | |
---|---|
Name | |
1M Rtn | 4.8% |
3M Rtn | 2.9% |
6M Rtn | -18.9% |
12M Rtn | -27.4% |
3Y Rtn | -37.8% |
1M Excs Rtn | 2.5% |
3M Excs Rtn | -7.0% |
6M Excs Rtn | -36.7% |
12M Excs Rtn | -46.4% |
3Y Excs Rtn | -98.2% |
Comparison Analyses
Segment Financials
Revenue by Segment
$ Mil | 2024 | 2023 | 2022 | 2021 | 2020 |
---|---|---|---|---|---|
UnitedHealthcare | 281,360 | 249,741 | 222,899 | 200,875 | 193,842 |
Optum Rx | 116,087 | 99,773 | 91,314 | 35,078 | 32,195 |
Optum Health | 95,319 | 71,174 | 54,065 | 17,327 | 12,351 |
Optum Insight | 18,932 | 14,581 | 12,199 | 3,861 | 3,767 |
Optum Eliminations | -3,703 | -2,760 | -2,013 | ||
Corporate and Eliminations | -136,373 | -108,347 | -90,867 | ||
Total | 371,622 | 324,162 | 287,597 | 257,141 | 242,155 |
$ Mil | 2024 | 2023 | 2022 | 2021 | 2020 |
---|---|---|---|---|---|
UnitedHealthcare | 16,415 | 14,379 | 11,975 | 12,359 | 10,326 |
Optum Health | 6,560 | 6,032 | 4,462 | 3,434 | 2,963 |
Optum Rx | 5,115 | 4,436 | 4,135 | 3,887 | 3,902 |
Optum Insight | 4,268 | 3,588 | 3,398 | 2,725 | 2,494 |
Corporate and Eliminations | 0 | 0 | 0 | ||
Optum Eliminations | 0 | 0 | 0 | ||
Total | 32,358 | 28,435 | 23,970 | 22,405 | 19,685 |
$ Mil | 2024 | 2023 | 2022 | 2021 | 2020 |
---|---|---|---|---|---|
UnitedHealthcare | 110,943 | 107,094 | 102,967 | 98,229 | 88,250 |
Optum Health | 89,432 | 68,950 | 60,474 | 52,073 | 40,444 |
Optum Rx | 51,266 | 47,476 | 40,181 | 39,280 | 36,346 |
Optum Insight | 34,173 | 31,090 | 16,868 | 15,425 | 15,181 |
Optum Eliminations | 0 | 0 | 0 | ||
Corporate and Eliminations | -12,094 | -8,905 | -8,284 | -7,718 | -6,332 |
Total | 273,720 | 245,705 | 212,206 | 197,289 | 173,889 |
Returns Analyses
Earnings Returns History
Expand for MoreForward Returns | |||
---|---|---|---|
Earnings Date | 1D Returns | 5D Returns | 21D Returns |
7/29/2025 | -7.5% | -14.6% | 6.5% |
4/17/2025 | -22.4% | -27.5% | -50.1% |
1/16/2025 | -6.0% | -2.5% | -3.7% |
10/15/2024 | -8.1% | -5.6% | 1.5% |
7/16/2024 | 6.5% | 8.4% | 11.4% |
4/16/2024 | 5.2% | 10.2% | 15.3% |
1/12/2024 | -3.4% | -6.7% | -4.1% |
10/13/2023 | 2.6% | 1.2% | 3.0% |
... | |||
SUMMARY STATS | |||
# Positive | 13 | 12 | 16 |
# Negative | 11 | 12 | 8 |
Median Positive | 4.1% | 5.2% | 6.3% |
Median Negative | -2.9% | -2.5% | -5.4% |
Max Positive | 8.2% | 12.6% | 15.7% |
Max Negative | -22.4% | -27.5% | -50.1% |
SEC Filings
Expand for MoreReport Date | Filing Date | Filing |
---|---|---|
6302025 | 8112025 | 10-Q 6/30/2025 |
3312025 | 5072025 | 10-Q 3/31/2025 |
12312024 | 2272025 | 10-K 12/31/2024 |
9302024 | 11042024 | 10-Q 9/30/2024 |
6302024 | 8092024 | 10-Q 6/30/2024 |
3312024 | 5092024 | 10-Q 3/31/2024 |
12312023 | 2282024 | 10-K 12/31/2023 |
9302023 | 11062023 | 10-Q 9/30/2023 |
6302023 | 8022023 | 10-Q 6/30/2023 |
3312023 | 5032023 | 10-Q 3/31/2023 |
12312022 | 2242023 | 10-K 12/31/2022 |
9302022 | 11022022 | 10-Q 9/30/2022 |
6302022 | 8032022 | 10-Q 6/30/2022 |
3312022 | 5042022 | 10-Q 3/31/2022 |
12312021 | 2152022 | 10-K 12/31/2021 |
9302021 | 11032021 | 10-Q 9/30/2021 |
Insider Activity
Expand for MoreOwner | Title | Filing Date | Action | Price | Shares | TransactedValue | Value ofHeld Shares | Form | |
---|---|---|---|---|---|---|---|---|---|
0 | Conway Patrick Hugh | Chief Executive Officer, Optum | 6122025 | Sell | 305.00 | 589 | 179,645 | 3,171,528 | Form |
1 | REX JOHN F | President & CFO | 5162025 | Buy | 291.12 | 17,175 | 4,999,919 | 59,328,308 | Form |
2 | HEMSLEY STEPHEN J | CEO, UHG | 5162025 | Buy | 288.57 | 86,700 | 25,019,019 | 196,081,278 | Form |
3 | FLYNN TIMOTHY PATRICK | 5162025 | Buy | 320.80 | 1,533 | 491,786 | 1,935,386 | Form | |
4 | Gil Kristen | 5162025 | Buy | 271.17 | 3,700 | 1,003,329 | 1,035,327 | Form |
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