UnitedHealth Group is a US health insurer. Besides insurance through UnitedHealthcare, the group runs doctors’ practices, pharmacy benefit management and software for the healthcare sector through Optum. It operates mainly in the US. As of Oct 13, 2026
UnitedHealth Group is a healthcare company with the business platforms Optum and UnitedHealthcare. Optum, with its Optum Health, Optum Insight and Optum Rx divisions, serves patients, payers, providers, employers and government agencies. Optum Rx provides pharmacy services, including through mail-order and specialty pharmacies, and sells them directly and through brokers and consultants. Domestically, UnitedHealthcare Employer & Individual offers health plans for large, mid-sized and small employers, government agencies and individuals. UnitedHealthcare Medicare & Retirement serves seniors and other Medicare beneficiaries and sells through direct outreach, agents, employer groups and digital channels. UnitedHealthcare Community & State serves economically disadvantaged people through government programs such as Medicaid.
Automatically summarized from SEC annual report (10-K, filed Mar 2, 2026) (website of the US Securities and Exchange Commission) · reviewed Oct 15, 2026
Our own calculation from the exchange’s daily candles, as of Oct 27, 2026. “All-time” applies since the start of this series, not to the whole market. Changes in percent; the TradingView chart shows prices. “Today” = change of the last trading day versus the previous day. Not investment advice.
Growth, margin and debt compared with the sector – in detail in the fundamental analysis further down. The chart shows the candles without a buy zone.
Growth: greenMargin: yellowDebt: green
UnitedHealth Group · Sector Health Care · amounts in USD
Information only – does not affect the other analysis methods, not investment advice. Source: SEC filings, As of Mar 2, 2026.
Four angles on the annual figures. Each check counts how many disclosed criteria are met – criteria without data do not count. The bars show where the company ranks on each figure among the stocks we cover and within its sector.
Fiscal year to Dec 31, 2025
4.2% Fiscal year 2025
Rank 27 of 100: higher than 27% of 192 peers (All). weak.
Rank 38 of 100: higher than 38% of 20 peers (Sector). medium.
Median Health Care: 18.0%
Operating income divided by revenue: what the core business earns before interest and taxes.
2.7% Fiscal year 2025
Rank 20 of 100: higher than 20% of 237 peers (All). weak.
Rank 25 of 100: higher than 25% of 26 peers (Sector). weak.
Median Health Care: 13.9%
Profit after all costs, interest and taxes divided by revenue.
12.0% Fiscal year 2025
Rank 38 of 100: higher than 38% of 218 peers (All). medium.
Rank 31 of 100: higher than 31% of 21 peers (Sector). weak.
Median Health Care: 14.3%
Net income divided by equity at fiscal year end.
3.9% Fiscal year 2025 (total assets at year end)
Rank 35 of 100: higher than 35% of 238 peers (All). medium.
Rank 29 of 100: higher than 29% of 26 peers (Sector). weak.
Median Health Care: 6.4%
Net income divided by total assets at fiscal year end.
32.3% Fiscal year 2025
Rank 45 of 100: higher than 45% of 239 peers (All). medium.
Rank 40 of 100: higher than 40% of 26 peers (Sector). medium.
Median Health Care: 38.5%
Equity as a share of total assets. Usually low for banks.
3.6% Fiscal year 2025
Rank 25 of 100: higher than 25% of 213 peers (All). weak.
Rank 30 of 100: higher than 30% of 25 peers (Sector). weak.
Median Health Care: 14.9%
Free cash flow divided by revenue.
16.1B USD Fiscal year 2025
Operating cash flow minus capital expenditure on property and equipment.
+11.4% per year
Rank 62 of 100: higher than 62% of 230 peers (All). medium.
Rank 74 of 100: higher than 74% of 25 peers (Sector). strong.
Median Health Care: +5.6%
Average growth per year over 3 fiscal years.
+11.7% per year
Rank 53 of 100: higher than 53% of 217 peers (All). medium.
Rank 70 of 100: higher than 70% of 25 peers (Sector). strong.
Median Health Care: +8.5%
Average growth per year over 5 fiscal years.
+11.0% per year
Rank 67 of 100: higher than 67% of 157 peers (All). strong.
Rank 61 of 100: higher than 61% of 19 peers (Sector). medium.
Median Health Care: +10.1%
Average growth per year over 10 fiscal years.
−14.5% per year
Rank 13 of 100: higher than 13% of 157 peers (All). weak.
Rank 20 of 100: higher than 20% of 22 peers (Sector). weak.
Median Health Care: +5.5%
Growth of earnings per share per year, adjusted for stock splits.
−3.8% per year
Rank 8 of 100: higher than 8% of 146 peers (All). weak.
Rank 13 of 100: higher than 13% of 20 peers (Sector). weak.
Median Health Care: +7.0%
Growth of earnings per share per year, adjusted for stock splits.
+8.2% per year
Rank 43 of 100: higher than 43% of 140 peers (All). medium.
Rank 48 of 100: higher than 48% of 20 peers (Sector). medium.
Median Health Care: +8.3%
Growth of earnings per share per year, adjusted for stock splits.
66% Fiscal year 2025
Dividend per share divided by earnings per share.
+12.6% per year
Rank 68 of 100: higher than 68% of 118 peers (All). strong.
Rank 66 of 100: higher than 66% of 16 peers (Sector). medium.
Median Health Care: +7.8%
Growth of the dividend per share per year.
2.0x Fiscal year 2025
Free cash flow per share divided by dividend per share. From 1x the dividend is covered.
7 of 9 Fiscal year 2025
Rank 72 of 100: higher than 72% of 134 peers (All). strong.
Rank 63 of 100: higher than 63% of 19 peers (Sector). medium.
Median Health Care: 7.0 of 9
Nine yes/no tests on profit, cash flow, debt, liquidity and efficiency compared with the prior year.
0.72 at fiscal year end
Rank 43 of 100: lower than 43% of 199 peers (All). medium.
Rank 47 of 100: lower than 47% of 18 peers (Sector). medium.
Median Health Care: 0.72
Long-term financial debt divided by equity.
0.79 at fiscal year end
Rank 9 of 100: higher than 9% of 215 peers (All). weak.
Rank 6 of 100: higher than 6% of 26 peers (Sector). weak.
Median Health Care: 1.56
Current assets divided by current liabilities.
−5.2% in 5 years
Rank 63 of 100: lower than 63% of 199 peers (All). medium.
Rank 60 of 100: lower than 60% of 24 peers (Sector). medium.
Median Health Care: −2.7%
Change in diluted share count. Negative = share buybacks, positive = new shares.
Last fiscal year compared with the one before. Returns and revenue per total assets use total assets at the start of the year; leverage = long-term financial debt divided by total assets at year end; new shares via the average diluted share count.
Price-based criteria (P/E, dividend yield) are shown to signed-in users.
Computed automatically from SEC annual reports – not investment advice. Describes the reported figures; points are not a rating of the stock. Rank 0–100 against the 239 stocks we cover and against the sector (from 5 peers); the stronger side is always on the right.
Summarized from the lights below. Describes the reported figures – not a recommendation to buy or sell.
Fiscal year 2025 (Jan 1, 2025 – Dec 31, 2025): Revenue 447.6B USD · Net income 12.1B USD · Net margin 2.7%
Where the money of a fiscal year goes and how margins, returns, balance sheet, cash flow and share count developed over up to 10 years. Each chart has one sentence saying what the trend shows.
Of 100 USD of revenue, 4.2 USD operating income and 2.7 USD net income remained.
| Item | Amount | of revenue |
|---|---|---|
| Revenue | 447.6B USD | 100.0% |
| Operating income | 19.0B USD | 4.2% |
| Cost of revenue and operating expenses | 428.6B USD | 95.8% |
| Net income | 12.1B USD | 2.7% |
| Interest expense | 4.0B USD | 0.9% |
| Taxes | 1.9B USD | 0.4% |
| Other | 1.0B USD | 0.2% |
Taxes, interest and other items are not available separately in the SEC data; they are combined as the difference.
The operating margin fell in 5 years from 8.7% to 4.2%.
Operating marginNet marginReturn on equity fell in 5 years from 22.5% to 12.0%.
Return on equityReturn on assetsThe equity ratio fell in 5 years from 34.6% to 32.3%.
EquityLong-term debt in USD Long-term debt, depending on the filing, includes the current portion or leases.The current ratio stayed roughly the same in 5 years (0.79).
Current ratioFree cash flow fell in 5 years from 20.1B USD to 16.1B USD.
Operating cash flowCapital expenditureFree cash flow in USDThe share count fell in 5 years by 5.2% (mostly through share repurchases).
Diluted share countFrom annual reports filed with the SEC (10-K, 20-F, 40-F) as first reported, share count adjusted for splits; obvious filing errors (e.g. wrong unit, outliers against both neighbouring years) are hidden. Describes the reported figures – not investment advice.
How much the company returns to its shareholders – as dividends or by repurchasing its own shares – and whether free cash flow supports it.
The dividend per share rose in 5 years from 4.83 USD to 8.73 USD.
Dividend per share USD per share Per share as filed with the SEC, including special dividends; obvious filing errors are hidden.The payout ratio rose in 5 years from 30.1% to 66.0%.
Payout ratio (earnings)Payout ratio (free cash flow)Over 5 years, 68.0B USD went back to shareholders, 51% of it through share repurchases. That is 64% of the free cash flow of those years. This was offset by new shares issued for 6.6B USD (including employee plans).
Dividends paidShare repurchasesNew shares issued (including employee plans)Free cash flow in USDDividends paid, repurchases and new shares issued from the cash flow statement of annual reports filed with the SEC (as first reported). Describes the reported figures – not investment advice.
Price-based valuation (P/E, P/S, price/free cash flow and dividend yield per fiscal year, compared with its own average) for signed-in users. Log in
UnitedHealth Group next to 8 stocks of the sector Health Care we cover that are closest in revenue. Click a column header to sort the table.
| Symbol | Revenue (FY) | Growth 5 yrs | Gross margin | Op. margin | Net margin | ROE | Equity ratio | FCF margin | Piotroski |
|---|---|---|---|---|---|---|---|---|---|
| UNH UnitedHealth Group this stock | 447.6B USD | +11.7% | – | 4.2% | 2.7% | 12.0% | 32.3% | 3.6% | 7/9 |
| MCK McKesson Corporation | 403.4B USD | +11.1% | 3.6% | 1.5% | 1.2% | – | −2.6% | 1.4% | 6/9 |
| CVS CVS Health | 402.1B USD | +8.4% | 45.0% | 1.2% | 0.4% | 2.4% | 29.7% | 1.9% | 7/9 |
| CI Cigna | 274.9B USD | +11.4% | 21.8% | 3.3% | 2.2% | 14.3% | 26.4% | – | 7/9 |
| ELV Elevance Health | 199.1B USD | +10.3% | – | 3.6% | 2.8% | 12.9% | 36.1% | 1.6% | 7/9 |
| JNJ Johnson & Johnson | 94.2B USD | +2.7% | 67.9% | – | 28.5% | 32.9% | 40.9% | 20.9% | 4/9 |
| HCA HCA Healthcare | 75.6B USD | +8.0% | – | – | 9.0% | – | −9.9% | 10.2% | – |
| LLY Lilly (Eli) | 65.2B USD | +21.6% | 83.0% | – | 31.7% | 77.8% | 23.6% | 13.8% | 7/9 |
| MRK Merck & Co. | 65.0B USD | +6.3% | 74.8% | – | 28.1% | 34.7% | 38.4% | 19.0% | 4/9 |
| Median of the sector 26 symbols | 44.4B USD | +8.5% | 66.6% | 18.0% | 13.9% | 14.3% | 38.5% | 14.9% | 7/9 |
Growth 5 yrs = revenue growth per year over 5 fiscal years · Op. margin = operating margin · ROE = return on equity · FCF = free cash flow · Piotroski = F-Score (only with all 9 criteria).
Figures of the last fiscal year from SEC annual reports (peers as of Oct 28, 2026). Median across all companies of the sector we cover (from 5 stocks; several share classes of one company count once). Signed-in users also see P/E, P/S and dividend yield in the comparison. Describes the reported figures – not investment advice.
Each light follows a simple, disclosed rule. The comparison is with the sector median Sector medianThe middle value of all companies in a sector: half are above it, half below. Unlike the average, single outliers hardly distort it.Example: Margins 4%, 8%, 10%, 12%, 60% → median 10%, average 18.8%.More in the Academy: Lesson putting the P/E in context of all 63 symbols in the Health Care sector on our list (current members of the S&P 500 and other lists).
+11.7% per year, last 5 years
Sector Health Care: median +7.8% (60 symbols)
What does this mean? Revenue: over 5 years it grew by 11.7% per year on average – at least as fast as the median company in the sector (+7.8%).
Light rule: Green: grows at least as fast as the sector median (without a sector comparison: grows) · Yellow: grows more slowly · Red: shrinks.
−4.8% per year, last 5 years
Sector Health Care: median +7.5% (46 symbols)
per share: −3.8% per year (5 years, split-adjusted)
What does this mean? Total net income: over 5 years it fell by 4.8% per year on average. The median company in the sector reached +7.5% per year.
Light rule: Green: grows at least as fast as the sector median (without a sector comparison: grows) · Yellow: grows more slowly · Red: shrinks.
2.7% last fiscal year
Sector Health Care: median 12.9% (63 symbols)
What does this mean? Of every 100 USD in revenue, 2.69 USD remained as profit – less than the median company in the sector (12.9%). Five years ago the margin was 6.0%.
Light rule: Green: at least the sector median (without a sector comparison: profit) · Yellow: profit, but below the median · Red: loss.
0.66 latest balance sheet
Sector Health Care: median 0.66 (49 symbols)
What does this mean? For every 1 USD of equity there is 0.66 USD of financial debt – no more than the median company in the sector (0.66). More debt amplifies good and bad years alike.
Light rule: Green: at most the sector median · Yellow: up to twice the median · Red: more than twice · Gray: without a sector comparison.
66% Dividend / earnings per share
Sector Health Care: median 28% (31 symbols)
What does this mean? Of every 1 USD of earnings per share, 0.66 USD went to shareholders as a dividend. Little buffer remains for weaker years. Median company in the sector: 28%.
Light rule: Green: up to 60% of earnings · Yellow: up to 100% · Red: more than earnings or a dividend despite a loss · Gray for real estate (REITs). The sector median is for comparison only.
10 of 10 fiscal years with a profit
What does this mean? In 10 of the last 10 fiscal years the bottom line showed a profit. There were no losses in this period.
Light rule: Green: profit in every year · Yellow: one loss year · Red: several loss years (at least 3 years needed).
| Year | End | Revenue | Net income | Margin | Earnings per share | Dividend per share | Payout |
|---|---|---|---|---|---|---|---|
| 2025 | Dec 31, 2025 | 447.6B | 12.1B | 2.7% | 13.23 | 8.73 | 66% |
| 2024 | Dec 31, 2024 | 400.3B | 14.4B | 3.6% | 15.51 | 8.18 | 53% |
| 2023 | Dec 31, 2023 | 371.6B | 22.4B | 6.0% | 23.86 | 7.29 | 31% |
| 2022 | Dec 31, 2022 | 324.2B | 20.1B | 6.2% | 21.18 | 6.40 | 30% |
| 2021 | Dec 31, 2021 | 287.6B | 17.3B | 6.0% | 18.08 | 5.60 | 31% |
| 2020 | Dec 31, 2020 | 257.1B | 15.4B | 6.0% | 16.03 | 4.83 | 30% |
| 2019 | Dec 31, 2019 | 242.2B | 13.8B | 5.7% | 14.33 | 4.14 | 29% |
| 2018 | Dec 31, 2018 | 226.2B | 12.0B | 5.3% | 12.19 | 3.45 | 28% |
| 2017 | Dec 31, 2017 | 201.2B | 10.6B | 5.2% | 10.72 | 2.88 | 27% |
| 2016 | Dec 31, 2016 | 184.8B | 7.0B | 3.8% | 7.25 | 2.38 | 33% |
| Quarter | End | Revenue | Net income | Margin | Earnings per share | Dividend per share | Payout |
|---|---|---|---|---|---|---|---|
| Q2/26 | Jun 30, 2026 | 112.0B | 5.5B | 4.9% | 6.04 | 2.32 | 38% |
| Q1/26 | Mar 31, 2026 | 111.7B | 6.3B | 5.6% | 6.90 | 2.21 | 32% |
| Q4/25* | Dec 31, 2025 | 113.2B | 10.0M | 0.0% | – | 2.21 | – |
| Q3/25 | Sep 30, 2025 | 113.2B | 2.3B | 2.1% | 2.59 | 2.21 | 85% |
| Q2/25 | Jun 30, 2025 | 111.6B | 3.4B | 3.1% | 3.74 | 2.21 | 59% |
| Q1/25 | Mar 31, 2025 | 109.6B | 6.3B | 5.7% | 6.85 | 2.10 | 31% |
| Q4/24* | Dec 31, 2024 | 100.8B | 5.5B | 5.5% | – | 2.10 | – |
| Q3/24 | Sep 30, 2024 | 100.8B | 6.1B | 6.0% | 6.51 | 2.10 | 32% |
| Q2/24 | Jun 30, 2024 | 98.9B | 4.2B | 4.3% | 4.54 | 2.10 | 46% |
| Q1/24 | Mar 31, 2024 | 99.8B | −1.4B | −1.4% | −1.53 | 1.88 | – |
| Q4/23* | Dec 31, 2023 | 94.4B | 5.5B | 5.8% | – | 1.88 | – |
| Q3/23 | Sep 30, 2023 | 92.4B | 5.8B | 6.3% | 6.24 | 1.88 | 30% |
* Q4 derived: fiscal year minus the 9-month value (EPS cannot be derived this way); may be distorted by restatements.
How we calculate: values as first reported to the SEC (later corrections are left out), a fixed order of reporting tags per figure, partial sums are never added up. Growth per year Growth per year (CAGR)The average annual growth rate over several years, as if the value had grown equally strongly every year. Individual good or bad years even out in it.Example: Revenue €100m → €161m in 5 years → (161 ÷ 100) to the power of 1/5 − 1 = 10% per year.More in the Academy: Lesson debt, dividends and growth over 5 years (otherwise 3 years). Quarters are labeled by the calendar quarter in which they end.
| Period | Purchases | Sales | Net |
|---|---|---|---|
| 3 months | $00 people | $660.9K1 person | −$660.9K |
| 6 months | $00 people | $660.9K1 person | −$660.9K |
| 12 months | $00 people | $944.9K1 person | −$944.9K |
Source: mandatory filings with the SEC (Form 4), open-market purchases and sales only. General information, not investment advice.
ATR ATR (Average True Range)The average range per trading day over the last 14 days. It makes distances comparable, whether a stock costs 10 or 1,000.Example: ATR 2.50 at a price of 100: 0.4 ATR is 1.00, i.e. 1%.More in the Academy: Lesson ATR and moving averages as price values only when logged in.
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