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UnitedHealth (UNH) valuation

Run six valuation models on UnitedHealth with live data: DCF, Reverse DCF, Graham number, Monte Carlo, scenarios and sum-of-the-parts (NAV).

UNH
UNH

UnitedHealth

UNH · Healthcare

Current price

404,41 USD

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Valuation

Market cap
$363B
PE (TTM | NTM | +1y)
25.99 | 18.03 | 18.03
Price / Sales
0.81
EV / EBITDA
16.91
Price / Book
3.51

Cash flow

FCF yield(25.36 / 404.41)
+6.27%
SBC-adjusted FCF yield
—
SBC impact
—

Margins & growth

Profit margin
+3.14%
Operating margin
+7.13%
Quarterly earnings (YoY)
—
Quarterly revenue (YoY)
—

Balance

Cash
$31.47B
Debt
$73.33B
Net position
-$41.86B

Dividend

Dividend yield
+2.31%
Payout ratio
+57.52%
Next payout
6/23/2026

Price (1 year)

+33.03%
$427.89

Revenue

Q2 23: $92.9BQ2 23Q3 23: $92.36BQ4 23: $94.43BQ4 23Q1 24: $99.8BQ2 24: $98.86BQ2 24Q3 24: $100.82BQ1 25: $109.58BQ1 25Q2 25: $111.62BQ3 25: $113.16BQ3 25Q4 25: $113.22BQ1 26: $111.72BQ1 26$113.22B

EBITDA

Q1 25: $10.17BQ1 25Q2 25: $6.19BQ2 25Q3 25: $5.33BQ3 25Q4 25: $1.37BQ4 25Q1 26: $9.95BQ1 26$10.17B

Net income

Q2 23: $5.47BQ2 23Q3 23: $5.84BQ4 23: $5.46BQ4 23Q1 24: -$1.41BQ2 24: $4.22BQ2 24Q3 24: $6.06BQ1 25: $6.29BQ1 25Q2 25: $3.41BQ3 25: $2.35BQ3 25Q4 25: $10MQ1 26: $6.28BQ1 26$6.29B

Free cash flow

Q1 24: $401MQ1 24Q1 25: $4.56BQ1 25Q2 25: $6.3BQ2 25Q3 25: $5.06BQ3 25Q4 25: $160MQ4 25Q1 26: $8.15BQ1 26$8.15B

EPS

Q2 23: 5.82Q2 23Q3 23: 6.24Q4 23: 5.85Q4 23Q1 24: -1.53Q2 24: 4.54Q2 24Q3 24: 6.51Q1 25: 6.85Q1 25Q2 25: 3.74Q3 25: 2.59Q3 25Q4 25: 0.01Q1 26: 6.90Q1 266.90

Cash & debt

CashDebt
Q2 23 · Cash: $41.81BQ2 23Q3 23 · Cash: $38.92BQ4 23 · Cash: $25.43BQ4 23Q1 24 · Cash: $28.41BQ2 24 · Cash: $26.29BQ2 24Q3 24 · Cash: $32.4BQ1 25 · Cash: $30.72BQ1 25 · Debt: $81.27BQ1 25Q2 25 · Cash: $28.6BQ2 25 · Debt: $79.19BQ3 25 · Cash: $27.21BQ3 25 · Debt: $80.14BQ3 25Q4 25 · Cash: $24.37BQ4 25 · Debt: $78.39BQ1 26 · Cash: $28BQ1 26 · Debt: $77.92BQ1 26$81.27B

Return of capital

DividendsBuybacks
Q1 24 · Dividends: $1.73BQ1 24 · Buybacks: $3.07BQ1 24Q1 25 · Dividends: $1.91BQ1 25 · Buybacks: $3BQ1 25Q2 25 · Dividends: $2BQ2 25 · Buybacks: $2.55BQ2 25Q3 25 · Dividends: $2BQ3 25Q4 25 · Dividends: $2BQ4 25Q1 26 · Dividends: $2.01BQ1 26$4.91B

Shares outstanding

Q2 23: 931.03MQ2 23Q2 23: 927MQ3 23: 926.31MQ3 23: 925MQ4 23: 924.93MQ4 23Q4 23: 924MQ1 24: 921.93MQ1 24: 920MQ2 24: 920.39MQ2 24Q2 24: 921MQ3 24: 923.42MQ3 24: 923MQ4 24: 920.28MQ4 24Q1 25: 914.71MQ1 25: 910MQ2 25: 907.14MQ2 25: 905MQ2 25Q3 25: 905.67MQ3 25: 905.67MQ4 25: 905.84MQ4 25: 905.84MQ1 26: 907.68MQ2 26: 908.14MQ2 26931.03M

Stock-based compensation

Q1 24: $372MQ1 24Q1 25: $375MQ1 25Q2 25: $197MQ2 25Q3 25: $223MQ3 25Q4 25: $176MQ4 25Q1 26: $348MQ1 26$375M

Operating expenses

R&DSG&A
Q2 23 · SG&A: $13.81BQ2 23Q3 23 · SG&A: $13.86BQ3 23Q4 23 · SG&A: $13.34BQ4 23Q1 24 · SG&A: $14.08BQ1 24Q2 24 · SG&A: $13.16BQ2 24Q3 24 · SG&A: $13.28BQ3 24$14.08B

Source: Yahoo Finance. Quarterly history grows automatically over time as new quarters are published.

Other comparisons

UnitedHealth vs Johnson & Johnson

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