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Stocks/Health Care/Managed Health Care

UnitedHealthUNH

Managed Health Care · Eden Prairie, Minnesota · In the S&P 500
Solid business
$406.97−0.96%After hours: $405.82 (−0.28%)At the close, 30 Oct · Prices from CNBC, may be delayed
▲ 14.6% over 1 year
UnitedHealth over 1 yearDaily close, $, to 30 Oct 2026
$300$350Nov2026MarMayJulSep$406.97$300NovMarJul$406.97
Source: Nasdaq daily closes
Market value$365B
Price to earnings23.2x
Forward P/E18.9x
Dividend yield2.28%
Year to date+23.3%
One year+14.6%
Next earningsNot scheduled
SectorHealth Care
52-week range (closes)
$259.02$436.35

Quality and valuation

How UnitedHealth compares with other health care stocks. A description, not a recommendation.

UnitedHealth and 5 managed health care peers. Across: valuation (P/E) against the sector. Up: business quality against the sector. Hover or tap a logo for its numbers.

Business quality: about averageValuation: in line with its sector

An average business among health care companies, priced about in line with them.

UnitedHealth trades at 18.9 times the next 12 months of expected earnings, against a median of 19.1x for the 65 health care stocks we cover. The quality score blends where it ranks on revenue growth, gross margin, operating margin and free-cash-flow margin (net margin for banks and insurers) over the last 12 months, from SEC filings.

  • Revenue grew slower than the sector median: +6.5% vs +7.8%
  • Keeps more of each sale (gross margin): 88.6% vs 65.3%
  • Less profitable (operating margin): 4.8% vs 13.3%
  • Turns less of its sales into cash: 5.2% vs 15.9%
UNH trades at 18.9x forward earnings, below the sector medianForward p/e, Managed Health Care peers
NVS17.0xAZN17.5xMRK18.1xUNH18.9xABBV19.6xJNJ25.1xTMO26.6xLLY36.3xSector median 19.1xNVS17.0xAZN17.5xMRK18.1xUNH18.9xABBV19.6xJNJ25.1xTMO26.6xLLY36.3xSector median 19.1x
Source: CNBC quotes; Mostly Markets
At 26.2x earnings, UNH is pricier than its average since Aug 2024Price over the last 12 months of reported (GAAP) diluted EPS
P/EUsual range (±1 s.d.)
10x20x30x40xAverage 25.3x2025202626.2x20x40xAverage 25.3x2025202626.2x
Source: Nasdaq prices; SEC filings

Financials

From UnitedHealth's SEC filings, through the quarter ending 30 Jun 2026. Hover or tap a bar for its value.

Revenue grew 0.4% from a year earlierQuarterly revenue, $bn, latest Q2 ’26
$0bn$50bn$100bnQ3 ’24Q1 ’25Q3 ’25$112bnQ2 ’26$0bn$50bn$100bnQ3 ’24Q1 ’25Q3 ’25$112bnQ2 ’26
Source: SEC filings
Growth slowed to +0.4% last quarterRevenue growth, year on year, %
0%5%10%Q3 ’24Q1 ’25Q3 ’250.4%Q2 ’260%5%10%Q3 ’24Q1 ’25Q3 ’250.4%Q2 ’26
Source: SEC filings
Operating margin was 7.1% last quarterOperating income as a share of revenue, %
0%2%5%8%Q3 ’24Q1 ’25Q3 ’257.1%Q2 ’260%5%Q3 ’24Q1 ’25Q3 ’257.1%Q2 ’26
Source: SEC filings
Free cash flow was $23.6 billion over 12 monthsQuarterly free cash flow (operating cash flow minus capex), $bn
$0bn$5bn$10bnQ3 ’24Q1 ’25Q3 ’25$10.2bnQ2 ’26$0bn$5bn$10bnQ3 ’24Q1 ’25Q3 ’25$10.2bnQ2 ’26
Source: SEC filings
Last 12 monthsUNHSector median
Revenue growth+6.5%+7.8%
Gross margin88.6%65.3%
Operating margin4.8%13.3%
Free cash flow margin5.2%15.9%
Price to earnings23.2x30.2x

Stories on UnitedHealth

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Similar companies

Managed Health Care, by market value.

CompanyPriceTodayYTDValue
LLYEli Lilly$1,417.54+3.19%+31.9%$1.33T
JNJJohnson & Johnson$273.20−0.73%+32.0%$658B
ABBVAbbVie$294.89+1.41%+29.1%$521B
MRKMerck$149.52+2.18%+42.0%$369B
NVSNovartis$160.79−0.19%+16.6%$327B
AZNAstraZeneca$186.65+7.02%+6.4%$290B
TMOThermo Fisher Scientific$697.00−1.72%+20.3%$258B
AMGNAmgen$466.01+1.15%+42.4%$252B