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UnitedHealth Group Incorporated
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Dow 30 S&P 500
🏹 Trader: 🎯 Near 52W High | BRS 79 Ready View all →
$369.4B
Market Cap
22.9
P/E
2.65
PEG
10.2%
ROCE
15.9%
ROE
0.70
D/E
5.9%
OPM
-3.3%
% from 52W High
68
α RS
🔍 UNH is showing a sector-leadership setup because Sector RRG has Health Care in the Leading quadrant with the trail still strengthening, it matches 2 of 39 tracked screener presets, RS Rating is 68, and it has maintained a 13-day Near 52-Week High momentum persistence. Net: Broad signal stack, not a recommendation. ? RRG Conviction RS Rating Momentum Streaks
Sources
Health Care in Leading quadrant · Conviction 2/39 · RS Rating 68 · Near 52-Week High streak: 13d
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🌏 Global Investor Returns
Currency-adjusted total returns for UNH including FX impact
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📈 Price History
Ratio Health
— Excellent
— Good
— Average
— Poor
By Category
📊 Peer Medians
About

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.

Key Ratios Snapshot
📈 Growth Pattern
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⭐ Superinvestors Holding UNH
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Manager Shares Value % of Fund Period
Jim Simons Renaissance Technologies LLC 1.16M $313.5M 0.49% Mar 2026
Steve Cohen Point72 Asset Management 419.5K $113.5M 0.15% Mar 2026
Tiger Global Management Tiger Global Management LLC 350.4K $94.8M 0.42% Mar 2026
David Tepper Appaloosa LP 90.0K $24.4M 0.41% Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

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Good quarter Investor Presentation One-Pager? Q2 2026
Revenue
$112.0B
Largely consistent YoY
Operating Income
$8.0B
+55% YoY
Adjusted EPS
$6.38
+56% YoY
Cash Flows from Operations
$11.1B
1.9x net income
What Went Right
  • Medicare outperformance drove UHC above expectations, with full-year Medicare Advantage margins now expected above 3%.
  • Optum generated $65.7B revenue and $4.0B earnings, representing 160bps of margin expansion year-over-year.
  • Cash flows from operations were $11.1B, or 1.9x net income, and debt-to-capital improved to 41.2%.
What to Watch
  • Commercial medical cost trend is modestly above 11%, with IDR adding ~50bps of incremental trend and at least 100bps of total cost; full margin recovery now extends past 2027.
  • Medicaid margins remain pressured and are expected to finish 2026 between -1% and -1.7%, with elevated trends in specialty pharmacy, behavioral health, and complex care.
  • Medicare trend is still well above historical levels, and Stars outcomes remain uncertain with industry scores at the lowest level in about a decade.
Management Guidance
  • FY2026 adjusted EPS raised to $19.50-$20.00; GAAP EPS expected at $18.45-$18.95.
  • FY2026 medical care ratio guided to 88.1% ±25bps; operating cost ratio expected at the higher end of prior range.
  • FY2026 cash flows from operations ~$24B; share repurchases at least $5B; UHC operating earnings at least $12B; Optum Health at least $2.2B.
Investor Lens
The investment thesis is stronger after this call: guidance was raised, Medicare is outperforming, Optum is showing margin momentum, and cash generation is robust. The main offsets are still-elevated commercial cost trends and delayed commercial margin recovery, plus persistent Medicaid margin pressure. Management frames the EPS base as durable and reaffirms the 13%-16% long-term growth algorithm from the new $19.50-$20.00 baseline.
From investor presentation · AI-generated analysis · Not investment advice
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📈 STRONG Strong quarter: adjusted EPS $6.38 vs $4.08, guidance raised
Revenue
Consolidated revenue was $112.0B, largely consistent with the prior year. UnitedHealthcare reported $86.0B in revenue while Optum generated $65.7B.
Profitability
Operating earnings were $8.0B, up 55% year-over-year. Adjusted EPS was $6.38 compared with $4.08 a year ago, and GAAP EPS was $6.04.
Margins
Medical care ratio improved to 86.7% from 89.4% in 2Q25, including $860M of net favorable prior-period development. Net margin was 4.9%, while the operating cost ratio rose to 12.7% from 12.3% on targeted investments.
Balance Sheet
Operating cash flow was approximately $11B, or 1.9x net income. Debt-to-capital improved to 41.2% from 44.1% a year ago, with share repurchases raised to at least $5B for 2026.
Key Risks
Commercial cost trends remain above 11%, driven by No Surprises Act IDR exploitation and provider coding intensity, pushing commercial margin recovery beyond 2027. Medicaid margins remain pressured, and Medicare trend, while below expectations, is still elevated versus history.
Outlook
Full-year 2026 adjusted EPS guidance was raised to $19.50-$20.00 with GAAP EPS of $18.45-$18.95. Earnings cadence is expected to be roughly two-thirds first half and one-third second half, with slightly more earnings in Q3 than Q4.
Generated by AI · Q2 2026 results · Not investment advice
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✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter
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📞 Earnings Call Transcripts (5)
Q2 2026 Q2 2026 2026-07-16
Q2 2026 results exceeded expectations, with strong Medicare Advantage and Optum Health performance, while commercial cost trends remain elevated. Full-year EPS guidance was raised, and significant investments in AI and value-based care are driving operational improvements and future growth.
Q1 2026 Q1 2026 2026-04-21
Q1 2026 saw all segments exceed plan, with strong Medicare and Optum Health results, improved margins, and accelerated AI investments. Full-year EPS guidance was raised, capital deployment advanced, and digital transformation initiatives are driving operational gains.
Q4 2025 Q4 2025 2026-01-27
Adjusted EPS for 2025 slightly exceeded expectations, with 2026 guidance targeting >8.6% EPS growth and margin expansion despite anticipated membership contraction in Medicare, Medicaid, and commercial risk. Strategic focus on operational discipline, AI-driven efficiencies, and transparency underpins the outlook.
Q3 2025 Q3 2025 2025-10-28
Q3 results showed 12% revenue growth and strong cash flow, but elevated medical costs and industry headwinds continue to pressure margins. Strategic repricing, operational improvements, and AI investments are expected to drive margin recovery in 2026 and accelerate growth in 2027.
Q2 2025 Q2 2025 2025-07-29
Q2 2025 saw strong revenue growth but significant margin compression due to underestimated medical costs, especially in Medicare and Medicaid. Leadership is implementing operational reforms, exiting select markets, and focusing on margin recovery for 2026, with a stronger rebound expected in 2027.
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Financial Model
Projections are built from each company's audited annual financials (Income Statement, Balance Sheet, Cash Flow) over the last 5 fiscal years. Forward assumptions — revenue growth %, EBITDA margin, D&A (USD millions), interest expense, tax rate, and capex — are AI-generated using historical context and refreshed twice a year: after the December results season and after the September/Q4 results season.

DCF Valuation
Fair Value = Σ(FCFt / (1+WACC)t) + Terminal Value. Terminal Value uses the Gordon Growth Model: FCF5 × (1+g) / (WACC−g). Default WACC: 10% (US risk-free ~4.5%, equity risk premium ~5.5%). Default terminal growth: 3% (long-run US nominal GDP proxy).

CAGR Tracker
Expected 5-year CAGR = (DCF Fair Value / Current Price)1/5 − 1. Assumes fair value is reached in exactly 5 years — a mechanical estimate only.

Data Sources & Limitations
Financial statements sourced from public filings. Prices updated daily. Forward assumptions are AI-generated. All monetary values in USD millions. Non-US ADR companies may have currency conversion inaccuracies. Models are point-in-time and do not update intra-quarter or account for M&A, macro shocks, or extraordinary items.

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Investment Risk:
Investing in securities, including US equities and ETFs, involves inherent risks including the potential loss of principal. All investments are subject to market fluctuations, economic conditions, regulatory changes, and other factors that may affect their value. Past performance is not indicative of future results. This analysis is provided for informational and educational purposes only and should not be construed as investment advice under any circumstances.

No Investment Recommendation:
This analysis does not constitute, nor should it be interpreted as, an offer, solicitation, or recommendation to buy, sell, or hold any securities or financial products. Investors are strongly advised to conduct their own independent research and due diligence and to consult with a licensed financial advisor or an SEC-registered investment adviser before making any investment decisions, taking into account their individual financial situation, risk tolerance, and investment objectives.

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Information Sources:
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