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UNITEDHEALTH GROUP INC UNH

NYSE · stock · Hospital & Medical Service Plans · website · IPO 1984-10-17 · LEI

UNITEDHEALTH GROUP INC statistics & valuation

Market cap$369.5B
P / E30.6×
P / S0.8×
P / B3.7×
P / FCF23.0×
Dividend yield2.14%
Net margin2.7%
Return on equity12.0%
FCF margin3.6%
Net debt$48.0B
Net debt / EBITDA2.1×
Enterprise value USD$417.5B
EV / EBITDA17.9×
Earnings yield EBIT/EV4.5%
Return on capital9.7%
Graham number -55.4%$180.85

Market cap as of 2026-06-29. Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value ($180.85); a green figure means the price is below it.

Profitability & efficiency

Net margin (%)
3.80% 5.20% 5.30% 5.70% 6.00% 6.00% 6.20% 6.00% 3.60% 2.70% 2016201720182019202020212022202320242025
Gross margin (%)
2016201720182019202020212022202320242025
Operating margin (%)
7.00% 7.60% 7.70% 8.10% 8.70% 8.30% 8.80% 8.70% 8.10% 4.20% 2016201720182019202020212022202320242025
Return on equity (%)
18.40% 21.20% 22.10% 22.90% 22.50% 23.00% 24.70% 23.70% 14.70% 12.00% 2016201720182019202020212022202320242025
Shares outstanding
968.0M 985.0M 983.0M 966.0M 961.0M 956.0M 950.0M 938.0M 929.0M 911.0M 2016201720182019202020212022202320242025
Net debt ($)
$15.35B $16.85B $23.71B $25.82B $21.73B $21.01B $31.15B $32.84B $47.05B $47.95B 2016201720182019202020212022202320242025
Share buybacks ($)
2016201720182019202020212022202320242025
Return on assets (%)
5.70% 7.60% 7.90% 8.00% 7.80% 8.10% 8.20% 8.20% 4.80% 3.90% 2016201720182019202020212022202320242025
Free cash flow margin (%)
4.40% 5.80% 6.00% 6.80% 7.80% 6.90% 7.20% 6.90% 5.20% 3.60% 2016201720182019202020212022202320242025
Debt / equity (×)
0.68× 0.58× 0.64× 0.61× 0.57× 0.56× 0.67× 0.62× 0.74× 0.72× 2016201720182019202020212022202320242025
EPS ($)
$7.25 $10.72 $12.19 $14.33 $16.03 $18.08 $21.18 $23.86 $15.51 $13.23 2016201720182019202020212022202320242025

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

UNITEDHEALTH GROUP INC trades at about 30.7× earnings — above its 10-year norm (10-year range 19×–35×, median 22.2×).

19× 35×

Shaded band = 10-year range (19×–35×); dot = today's 30.7×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating margin4.2%8.1%8.7%8.8%8.3%8.7%8.1%7.7%7.6%7.0%
Net margin2.7%3.6%6.0%6.2%6.0%6.0%5.7%5.3%5.2%3.8%
FCF margin3.6%5.2%6.9%7.2%6.9%7.8%6.8%6.0%5.8%4.4%
Return on assets3.9%4.8%8.2%8.2%8.1%7.8%8.0%7.9%7.6%5.7%
Return on equity12.0%14.7%23.7%24.7%23.0%22.5%22.9%22.1%21.2%18.4%
Debt / equity0.72×0.74×0.62×0.67×0.56×0.57×0.61×0.64×0.58×0.68×
Current ratio0.790.830.790.770.790.740.690.730.730.69

Computed from company filings · US · as of 2025-12-31. Facts plus Stocktoria's own computed scores — not investment advice.