UnitedHealth Group Inc

NYSE : UNH
USA·Healthcare·Healthcare Plans·Ordinary Shares
$401.43
+2.67 (+0.67%)Oct 16 close
Market Cap
$364.37B
Enterprise Value
$413.73B
P/E (TTM)
25.83
P/B
3.69
Net Cash / (Debt)
−$41.86B
52-Week Range
$259 — $436
5-Year Range
$238 — $625
Avg Volume (3M)
6.07M
ListingsNYSEXTERLTSLIMXSGO

UnitedHealth Group operates two main businesses: health insurance and healthcare services.

The insurance side (UnitedHealthcare) sells medical coverage to employers, individuals, and government program participants (Medicare, Medicaid). It covers roughly 51 million members and earns money by collecting premiums and managing medical costs.

The services side (Optum) runs pharmacy benefit management, outpatient clinics, and data/analytics services. Optum sells to both UnitedHealthcare and external health systems, insurers, and employers — making it a revenue source independent of the insurance business.

Revenue comes primarily from insurance premiums, with a growing share from Optum's fee-based and pharmacy services.

Employees390,000IPOOct 17, 1984SIC6324HQ1 Health Drive, Eden Prairie, MN, USA, 55344
to

Financials

Profitability

Metric
Current
Margins
Gross Margin
19.5%
Operating Margin
4.8%
EBITDA Margin
5.7%
Net Margin
3.1%
OCF Margin
6.0%
FCF Margin
5.3%
Returns on Capital
ROE
14.7%
ROA
4.5%
ROIC
7.2%
ROCE
10.8%
ROC (Greenblatt)
196.7%
3Y ROIIC
−12.1%
Consistency
Years Profitable / 10Y
10

Valuation

Metric
Current
Earnings Multiples
P/E (TTM)
25.83
Forward P/E
20.22
P/E ex-NRI
21.87
Shiller P/E (CAPE)
21.00
Cash Flow Multiples
P/FCF
15.44
P/OCF
13.50
P/Owner Earnings
16.94
FCF Yield
6.55%
Enterprise Value Multiples
EV / EBIT
19.40
EV / Forward EBIT
18.15
EV / EBITDA
16.15
EV / Forward EBITDA
16.07
EV / Revenue
0.92
EV / Forward Revenue
0.91
Asset / Sales
P/S
0.80
P/B
3.69
P/Tangible Book
—
Growth-Adjusted
PEG
54.69

Capital Returns

Metric
Current
Dividends
Dividend Yield (TTM)
2.20%
Forward Dividend Yield
2.29%
3Y Dividend Growth
10.9%
Payout Ratio
0.49
5Y Yield on Cost
4.02%
Buybacks & Dilution
3Y Buyback Ratio
1.00%
5Y Share Change
−5.2%
Combined
Shareholder Yield
2.88%

Balance Sheet

Metric
Current
Leverage
Debt / Equity
0.75
Gross Debt / EBITDA
2.86
Cash / Debt
0.43
Equity / Assets
0.32
Coverage
Interest Coverage
5.57
Short-Term Liquidity
Current Ratio
0.78
Quick Ratio
0.78
Cash Ratio
0.28
Composite Scores
Piotroski F-Score
5
Altman Z-Score
3.09

Split History

Date
Split
2005-05-31
2:1
2003-06-19
2:1
2000-12-26
2:1
1994-03-11
2:1
1992-09-16
2:1

Dividends

Ex-date
Amount
Pay date
2026-03-09
$2.21
2026-03-17
2025-12-08
$2.21
2025-12-16
2025-09-15
$2.21
2025-09-23
2025-06-16
$2.21
2025-06-24
2025-03-10
$2.1
2025-03-18
2024-12-09
$2.1
2024-12-17
2024-09-16
$2.1
2024-09-24
2024-06-17
$2.1
2024-06-25
2024-03-08
$1.88
2024-03-19
2023-12-01
$1.88
2023-12-12
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Transcripts

Date
Transcript
Type
2026-07-16
Q2 2026 UnitedHealth Group Inc Earnings Call Transcript
Earnings Call
2026-06-01
UnitedHealth Group Inc Annual Shareholders Meeting Transcript
Shareholders and Annual Meetings
2026-04-21
Q1 2026 UnitedHealth Group Inc Earnings Call Transcript
Earnings Call
2026-01-27
Q4 2025 UnitedHealth Group Inc Earnings Call Transcript
Earnings Call
2025-10-28
Q3 2025 UnitedHealth Group Inc Earnings Call Transcript
Earnings Call
2025-07-29
Q2 2025 UnitedHealth Group Inc Earnings Call Transcript
Earnings Call
2025-04-17
Q1 2025 UnitedHealth Group Inc Earnings Call Transcript
Earnings Call
2025-01-16
Q4 2024 Unitedhealth Group Inc Earnings Call Transcript
Earnings Call
2024-10-15
Q3 2024 Unitedhealth Group Inc Earnings Call Transcript
Earnings Call
2024-07-16
Q2 2024 Unitedhealth Group Inc Earnings Call Transcript
Earnings Call
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5-Step DuPont Analysis

ROE %
14.62%
Net Margin %
3.14%
Operating Margin %
4.82%
Operating Income
$21.68B
÷
Revenue
$450.13B
×
Tax Burden
0.8097
Net Income
$14.12B
÷
Pretax Income
$17.44B
×
Interest Burden
0.8046
Pretax Income
$17.44B
÷
Operating Income
$21.68B
×
Asset Turnover
1.46
Revenue
$450.13B
÷
Average Total Assets
$309.15B
Begin Total Assets
$308.57B
End Total Assets
$309.73B
×
Equity Multiplier
3.20
Avg Total Assets
$309.15B
÷
Avg Stockholders Equity
$96.59B
Begin Equity
$94.72B
End Equity
$98.45B

Top institutional holders

Q2 2026
HolderShares% OwnedChg. shares
BlackRock, Inc.76.9M8.47%+3.4M
VANGUARD CAPITAL MANAGEMENT LLC59.3M6.53%+440.7K
STATE STREET CORP45.6M5.03%+301.1K
Capital World Investors29.9M3.29%+2.1M
FMR LLC28.0M3.08%+16.0M
VANGUARD PORTFOLIO MANAGEMENT LLC24.5M2.70%+446.7K
PRICE T ROWE ASSOCIATES INC /MD/23.2M2.55%+2.3M
GEODE CAPITAL MANAGEMENT, LLC21.8M2.40%-1.0M
JPMORGAN CHASE & CO20.2M2.23%+1.1M
CHARLES SCHWAB INVESTMENT MANAGEMENT INC19.8M2.18%-987.2K
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Top insider holdings

as reported
InsiderShares held% Owned
REX JOHN FOfficer216.2K0.0238%
WITTY ANDREWOfficer112.2K0.0124%
HOOPER MICHELE JDirector41.8K0.0046%
ROOS THOMAS EOfficer31.3K0.0034%
Cianfrocco HeatherOfficer22.4K0.0025%
DeVeydt Wayne SOfficer18.7K0.0021%
Noel Timothy JohnOfficer17.7K0.0020%
FLYNN TIMOTHY PATRICKDirector17.2K0.0019%
Zaetta Christopher ROfficer15.9K0.0018%
HEMSLEY STEPHEN JOfficer——
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Recent insider activity

through Oct 1, 2026
InsiderActionSharesDate
Noseworthy John HDirectorGrant/Award (Rule 16b-3(d))+240Oct 1, 2026
MONTGOMERY RICE VALERIE MDDirectorGrant/Award (Rule 16b-3(d))+257Oct 1, 2026
MCNABB FREDERICK WILLIAM IIIDirectorGrant/Award (Rule 16b-3(d))+291Oct 1, 2026
Gottlieb ScottDirectorGrant/Award (Rule 16b-3(d))+257Oct 1, 2026
Gil KristenDirectorGrant/Award (Rule 16b-3(d))+240Oct 1, 2026
GARCIA PAUL RDirectorGrant/Award (Rule 16b-3(d))+155Oct 1, 2026
GARCIA PAUL RDirectorGrant/Award (Rule 16b-3(d))+103Oct 1, 2026
FLYNN TIMOTHY PATRICKDirectorGrant/Award (Rule 16b-3(d))+262Oct 1, 2026
Baker Charles D.DirectorGrant/Award (Rule 16b-3(d))+257Oct 1, 2026
MCNABB FREDERICK WILLIAM IIIDirectorGrant/Award (Rule 16b-3(d))+57Sep 22, 2026
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