UnitedHealth Group is one of the largest private health insurers and provides medical benefits to about 51 million members globally, including 1 million outside the US as of December 2025.
It is a $341B healthcare company. Revenue grew 6.5% over the last year, it keeps 3¢ of every dollar of sales as profit, and its net debt equals ~2.1 years of free cash flow. It trades at 24.1× earnings — around the middle of its own history.
- Website
- unitedhealthgroup.com
- Location
- Eden Prairie, MN
- Employees
- 390 000
- Sector
- Healthcare
- Founded
- 1974
- Next earnings
- Oct 13, 2026 · tomorrow
Skills
Six independent scores, 0–100, built from reported numbers and valuation history. Click a row to see how it was scored.
Strong valuation, quality and moat; Growth, Profitability and Health lag behind.
Valuation77
- P/E vs own history49th pct · 12/25
- FCF yield6.9% · 20/25
- P/S0.8x · 25/25
- EV/EBITDA14.9x · 20/25
Growth45
- Revenue CAGR11.7% · 20/25
- Net income CAGR-8.6% · 0/25
- EPS CAGR ~5Y-3.8% · 0/25
- Fwd implied growth41.1% · 25/25
Profitability35
- ROIC10.1% · 12/25
- ROE14.4% · 12/25
- Net margin3.1% · 6/25
- Operating margin4.7% · 5/25
Health31
- Altman Z1.36 · 3/25
- Current ratio0.74 · 6/25
- Interest coverage4.7x · 10/25
- Net cash / debtD/A 16% · 12/25
Quality90
- Piotroski F6/9 · 15/25
- Beneish M-2.55 · 25/25
- FCF conversion167% · 25/25
- Margin stabilityσ 1.4% · 25/25
Moat87
- ROIC >12% years9/10 yrs · 25/25
- Median gross margin88.4% · 25/25
- FCF-positive years10/10 yrs · 25/25
- Worst-year net marginworst 2.7% · 12/25
Experience
The company's career so far — founding, the IPO, landmark products and acquisitions, plus revenue milestones and insider buying.
- FY2023FinancialBest year on record$22.4B net income
- 2022AcquisitionUnitedHealth announced in March 2022 that it would acquire LHC Group for $5.4 billion
- 2021AcquisitionUnitedHealth announced the acquisition of Change Healthcare, the largest health payments platform…
- 2019AcquisitionUnitedHealth's Optum division acquired DaVita Medical Group from DaVita, Inc
- FY2016FinancialProfitable every year on record10 consecutive profitable years in our data
- FY2016FinancialRevenue already above $100B$185B in first reported year
- FY2016FinancialPositive free cash flow every year since10-year streak
- 2015AcquisitionPrior to acquisition, in 2015, UnitedHealth supported Rally Health as a majority investor
- 1998AcquisitionAlso in 1998, UnitedHealth Group acquired HealthPartners of Arizona, operator of Arizona's largest AHCCCS provider
- 1996AcquisitionUnitedHealthcare acquired HealthWise of America, which operated HMOs in Arkansas, Maryland, Kentucky and…
- 1995AcquisitionThe company acquired The MetraHealth Companies Inc. for $1.65 billion
- 1994AcquisitionUnitedHealthcare acquired Ramsey-HMO, a Florida insurer
- 1984MilestoneIt became a publicly traded company in 1984 and changed its name to UnitedHealth Group in 1998
- 1974FoundedUnitedHealth Group originated in late 1974, when Minnesota-based Charter Med Incorporated was founded by Richard…
Achievements
Verifiable track record, straight from the reported numbers.
Strengths & watch-outs
What a bull and a bear would each point to. Both lists come from the reported numbers, not opinions.
Strengths
- Could repay net debt from ~1.9 years of free cash flow
Watch-outs
- Altman Z-Score 1.36 — elevated financial-distress risk
Qualifications
The basics a company should meet before you research it further. Each check uses the reported numbers.
- Revenue growing — the company sells more than a year ago+6.5% YoY
- Profitable — makes more than it spends$14.1B TTM
- Profit growing — earnings are higher than last year-14.5% YoY
- Generates cash — cash left after running and investing$23.6B TTM
- Debt under control — could handle its obligations~2.1y of cash flow to repay
- Established company — not a micro-cap — lower blow-up risk$341B market cap
- Not printing shares — share count not ballooning — you keep your slice-5.2% shares over ~5y
- Proven track record — years of profitability behind it10/10 profitable years
- Financially stable — balance sheet not near distressAltman Z 1.4 — distress
- Pays a dividend — returns cash to shareholdersyield 2.38%
- Valuation not extreme — price not wildly above earningsP/E 24.1
Peer comparisonUNITEDHEALTH GROUP INCORPORATED (Delaware) vs 6 largest healthcare peers — cap, P/E, growth and margin side by sideOpen ▾Close ▴
| Company | Market cap | P/E | Revenue growth | Net margin | Profile |
|---|---|---|---|---|---|
| UNH this company | $340.7B | 24.1 | +6.5% | 3.1% | Mixed |
| LLY Eli Lilly & Co. | $1.0T | 41.6 | +49.6% | 33.5% | Solid |
| JNJ Johnson & Johnson | $630.9B | 29.9 | +8.1% | 21.5% | Mixed |
| ABBV Abbvie Inc. | $488.5B | 77.4 | +10.4% | 9.8% | Mixed |
| MRK Merck & Co., Inc. | $361.0B | 113.2 | +4.6% | 4.8% | Mixed |
| NVS Novartis AG | $273.2B | 20.3 | +9.6% | 24.7% | Solid |
| AZN AstraZeneca PLC | $246.9B | 23.4 | +8.6% | 17.4% | Solid |
Head-to-head: UNH vs LLY · UNH vs JNJ · UNH vs ABBV
References
What covering analysts publish about the company — information only, not a recommendation.
Appendix · Financial records
The full statements behind this CV, FY2016–FY2025. For readers who want to check the numbers.
Live data and quarterly detail: stockcv.com/UNH
Want the live picture — intraday moves, valuation history and full analysis?
Deeper analysis of UNH on PreMarketPriceFigures are derived from company filings (quarterly values normalised from as-filed year-to-date data where applicable) and may be delayed, restated or incomplete. This page is information, not investment advice. Latest price $379.59 · market cap $341B.