# UNITEDHEALTH GROUP INCORPORATED (Delaware) (UNH) — Stock CV

UNITEDHEALTH GROUP INCORPORATED (Delaware) 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.

> 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.

## Identity

- **Ticker**: UNH
- **Sector**: Healthcare
- **Industry**: Healthcare Plans
- **Headquarters**: EDEN PRAIRIE, MN
- **Employees**: 390 000
- **Website**: https://www.unitedhealthgroup.com
- **Market cap**: $341B
- **Last price**: $379.59
- **Financial profile**: Mixed

## Vitals (TTM)

- **Revenue**: $450B
- **Net income**: $14.1B
- **Free cash flow**: $23.6B
- **Net debt**: $50.3B
- **P/E**: 24.1
- **Revenue growth (YoY)**: 6.5%

## Skills (profile scores, 0–100)

| Pillar | Score |
|---|---|
| Valuation | 77 |
| Growth | 45 |
| Profitability | 35 |
| Health | 31 |
| Quality | 90 |
| Moat | 87 |

## Qualifications (beginner checklist) — 9 of 11 passed

- [x] Revenue growing — +6.5% YoY
- [x] Profitable — $14.1B TTM
- [ ] Profit growing — -14.5% YoY
- [x] Generates cash — $23.6B TTM
- [x] Debt under control — ~2.1y of cash flow to repay
- [x] Established company — $341B market cap
- [x] Not printing shares — -5.2% shares over ~5y
- [x] Proven track record — 10/10 profitable years
- [ ] Financially stable — Altman Z 1.4 — distress
- [x] Pays a dividend — yield 2.38%
- [x] Valuation not extreme — P/E 24.1

## Experience (career milestones)

- **FY2023** — Best year on record: $22.4B net income
- **2022** — UnitedHealth announced in March 2022 that it would acquire LHC Group for $5.4 billion
- **2021** — UnitedHealth announced the acquisition of Change Healthcare, the largest health payments platform…
- **2019** — UnitedHealth's Optum division acquired DaVita Medical Group from DaVita, Inc
- **FY2016** — Profitable every year on record: 10 consecutive profitable years in our data
- **FY2016** — Revenue already above $100B: $185B in first reported year
- **FY2016** — Positive free cash flow every year since: 10-year streak
- **2015** — Prior to acquisition, in 2015, UnitedHealth supported Rally Health as a majority investor
- **1998** — Also in 1998, UnitedHealth Group acquired HealthPartners of Arizona, operator of Arizona's largest AHCCCS provider
- **1996** — UnitedHealthcare acquired HealthWise of America, which operated HMOs in Arkansas, Maryland, Kentucky and…
- **1995** — The company acquired The MetraHealth Companies Inc. for $1.65 billion
- **1994** — UnitedHealthcare acquired Ramsey-HMO, a Florida insurer
- **1984** — It became a publicly traded company in 1984 and changed its name to UnitedHealth Group in 1998
- **1974** — UnitedHealth Group originated in late 1974, when Minnesota-based Charter Med Incorporated was founded by Richard…

## Strengths

- Could repay net debt from ~1.9 years of free cash flow

## Watch-outs

- Altman Z-Score 1.36 — elevated financial-distress risk

## Track record

| Year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $288B | $17.3B | $19.9B |
| FY2022 | $324B | $20.1B | $23.4B |
| FY2023 | $372B | $22.4B | $25.7B |
| FY2024 | $400B | $14.4B | $20.7B |
| FY2025 | $448B | $12.1B | $16.1B |

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Source: https://stockcv.com/UNH — derived from company filings; may be delayed or incomplete. Information, not investment advice.