UnitedHealth Group Incorporated (UNH) stock analysis
Company overview and business model
Source fact: UnitedHealth Group Incorporated operates as a health care company in the United States and internationally. It operates through four segments: Optum Health, Optum Insight, Optum Rx; and UnitedHealthcare. The Optum Health segment provides care delivery, care management, wellness and consumer engagement, and health financial services with patients, consumers, care delivery systems, providers, employers, payers, and public-sector entities. The Optum Insight segment offers software and information products, advisory consulting arrangements, and managed services outsourcing contracts to hospital systems, physicians, health plans, public entities, life sciences companies and other organizations. The Optum Rx segment provides pharmacy care services and programs, including retail network contracting, home delivery, specialty and community health pharmacy services, infusion, and purchasing and clinical capabilities, as well as develops programs in the areas of step therapy, formulary management, drug adherence, and disease and drug therapy management. The UnitedHealthcare segment offers consumer-oriented health benefit plans and services for national employers, public sector employers, mid-sized employers, small businesses, and individuals; Medicaid plans, including Temporary Assistance to Needy Families; Children's Health Insurance Programs; Dual SNPs; Long-Term Services and Supports; Aged, Blind and Disabled; and other federal, state, and community health care programs. and health care benefits products and services to state programs caring for the economically disadvantaged, medically underserved, and those without the benefit of employer-funded health care coverage. UnitedHealth Group Incorporated was founded in 1974 and is based in Eden Prairie, Minnesota.
Classification: NYSE · Healthcare · Healthcare Plans
Revenue and growth
Source fact: Revenue was USD 447.57 billion for the period ending 2025-12-31.
Caverian calculation: Revenue changed +11.8% (FY2025 vs FY2024).
Profitability
Source fact: Net income was USD 12.06 billion in the latest reported period.
Source metric: Reported net margin was 2.7%.
Balance sheet and liquidity
Source fact: Cash and equivalents were USD 24.36 billion.
Source fact: Total debt was USD 78.39 billion.
Source metric: Current ratio was 0.79x.
Cash-flow analysis
Source fact: Operating cash flow was USD 19.70 billion.
Source fact: Free cash flow was USD 16.07 billion.
Valuation
Source metrics: Trailing P/E 24.75x; Forward P/E 17.39x; Price to book 3.59x; Price to sales 0.78x; EV/EBITDA 14.97x.
Caverian model output: Value score was 48/100.
Competitive position
Classification: Peer context: Healthcare Plans within Healthcare.
Caverian model output: Quality score was 54/100.
Caverian model output: Growth score was 46/100.
Material risks
Caverian model interpretation: Watch out: short-term cash may not cover short-term bills.
Caverian calculation: Altman Z-score was 2.99 (grey zone).
Caverian calculation: Piotroski F-score was 6/9.
Data sources and freshness
Freshness: This report uses a stored upstream snapshot; statement periods are shown alongside the figures.
Methodology and limitations
Facts reproduce stored upstream fields. Calculations derive only from the displayed stored statements. Model outputs are Caverian interpretations, not investment advice or a buy/sell recommendation.
How Caverian approaches valuation · Sources and product principles