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UnitedHealth Group
UNHHealthcareGenerated Aug 19, 2026, 09:44 PM UTC
UNH (UnitedHealth Group) analytical snapshot. Revenue grew +11.8% YoY to $447.57B. 5-year revenue CAGR +9.2%; 10y CAGR +10.3%. Net margin at 2.69% (contracting ▼). Market cap $348.81B at $388.61 per share. Trailing P/E 29.37, P/S 0.78, P/B 10.56. EV/Operating income ≈ 20.55 (EV $389.73B). Risk: Elevated. Macro: Risk-on · Supportive. Composite analytical score -25 (data confidence 83%). Descriptive analytics from public filings — not investment advice.
Free SEC analysis
— computed from SEC filings, free to readFilings & Ownership
Latest annual report (10-K) filed Mar 2, 2026. Latest quarterly report (10-Q) filed Aug 10, 2026. 10 recent 8-K material-event filings in the index.
- Latest annual report (10-K) filed Mar 2, 2026.
- Latest quarterly report (10-Q) filed Aug 10, 2026.
- 10 recent 8-K material-event filings in the index.
- Recent insider Form 4s: 0 buy vs 0 sell transactions.
- ~10,000+ recent 13F-HR filings reference UnitedHealth Group; broad institutional reporting.
- Recent filers include Capital Wealth Planning, LLC, Capital Wealth Planning, LLC, Capital Wealth Planning, LLC.
- 4 recent 13D activist/beneficial-ownership filings — potential catalyst.
- 16 recent 13G passive institutional ownership notices.
| Filer | Form | Filed |
|---|---|---|
| Capital Wealth Planning, LLC | 13F-HR | Feb 13, 2019 |
| Capital Wealth Planning, LLC | 13F-HR | Aug 13, 2018 |
| Capital Wealth Planning, LLC | 13F-HR | Nov 13, 2018 |
| VitalStone Financial, LLC | 13F-HR | Jan 30, 2023 |
| Allen Investment Management LLC | 13F-HR | Nov 9, 2006 |
| Date | Form | Description |
|---|---|---|
| Jul 16, 2026 | 8-K | 8-K |
| Jun 5, 2026 | 8-K | 8-K |
| May 11, 2026 | 8-K | 8-K |
| Apr 21, 2026 | 8-K | 8-K |
| Mar 9, 2026 | 8-K | 8-K |
| Mar 2, 2026 | 8-K | 8-K |
| Feb 25, 2026 | 8-K | 8-K |
| Jan 27, 2026 | 8-K | 8-K |
SEC Filing Deep-Analysis
3 risk signal(s), 1 positive signal(s), 4 watch item(s) detected from XBRL filing diff analysis. Free cash flow declined despite stable or rising capex, indicating the cash burn is operational rather than investment-driven. This is a structural concern — cost reduction or asset sales may be needed to restore FCF.
- Free cash flow deteriorating: FCF declined +22.4% YoY (from $20.70B to $16.07B). With OCF at $19.70B and capex at $3.62B, cash generation capacity is weakening — monitor for dividend/buyback sustainability.
- NEW: Material weakness in internal controls in latest filing: The term "material weakness" "internal control" appears in recent 10-K/10-Q filings but was NOT present in the prior 24-month period. This is a new risk disclosure that warrants attention. Found in 4 filing(s).
- NEW: Restatement of financial statements in latest filing: The term "restatement of" "previously issued" appears in recent 10-K/10-Q filings but was NOT present in the prior 24-month period. This is a new risk disclosure that warrants attention. Found in 5 filing(s).
- Operating cash flow exceeds net income: OCF is 1.63x net income, indicating high earnings quality — cash conversion is strong and accruals are not inflating reported profits.
- Goodwill is 36% of total assets: Goodwill of $110.64B represents a large share of the balance sheet. If acquired businesses underperform, a non-cash impairment charge could materially impact earnings. Monitor segment performance and acquisition integration metrics.
- NEW: Impairment charge: Impairment charge appears in recent filings but not in the prior 24-month period. Monitor for materiality.
- Endogenous analysis: Free cash flow declined despite stable or rising capex, indicating the cash burn is operational rather than investment-driven. This is a structural concern — cost reduction or asset sales may be needed to restore FCF.
- 20 disclosure(s) dropped from prior year — reduced reporting granularity.
- 5 new risk-language term(s) detected in filing text: Material weakness in internal controls, Restatement of financial statements, Impairment charge, Restructuring, Off-balance sheet arrangements.
| Metric | Prior year | Latest year | Change | % Change |
|---|---|---|---|---|
| Revenue | $400.28B | $447.57B | $47.29B | +11.8% |
| Operating income | $32.29B | $18.96B | $-13.32B | -41.3% |
| Net income | $14.40B | $12.06B | $-2.35B | -16.3% |
| Operating cash flow | $24.20B | $19.70B | $-4.51B | -18.6% |
| Capex | $3.50B | $3.62B | $123.0M | +3.5% |
| Total assets | $298.28B | $309.58B | $11.30B | +3.8% |
| Total liabilities | $195.69B | $207.88B | $12.20B | +6.2% |
| Long-term debt | $72.36B | $72.32B | $-39.0M | -0.1% |
| Cash & equivalents | $25.31B | $24.36B | $-947.0M | -3.7% |
| Stockholders equity | $98.27B | $100.09B | $1.82B | +1.9% |
| Inventory | $3.80B | $3.30B | $-500.0M | -13.2% |
| Accounts receivable | $22.36B | $23.02B | $653.0M | +2.9% |
| SG&A expense | $53.01B | $59.59B | $6.58B | +12.4% |
| Interest expense | $3.91B | $4.00B | $96.0M | +2.5% |
| Type | Concepts |
|---|---|
| Removed | AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment, AllocatedShareBasedCompensationExpenseNetOfTax, AllowanceForDoubtfulAccountsReceivableCurrent, AllowanceForDoubtfulOtherReceivablesCurrent, AmortizationOfIntangibleAssets, BuildingsAndImprovementsGross, BusinessCombinationConsiderationTransferred1, BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssets, BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCashAndEquivalents, BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsReceivables |
| Term | Severity | Recent | Prior | Status |
|---|---|---|---|---|
| Material weakness in internal controls | high | 4 | 0 | NEW |
| Restatement of financial statements | high | 5 | 0 | NEW |
| Impairment charge | medium | 5 | 0 | NEW |
| Restructuring | medium | 5 | 0 | NEW |
| Off-balance sheet arrangements | medium | 5 | 0 | NEW |
Fundamentals
Revenue grew +11.8% YoY to $447.57B. 5-year revenue CAGR +9.2%; 10y CAGR +10.3%. Net margin at 2.69% (contracting ▼).
- Revenue grew +11.8% YoY to $447.57B.
- 5-year revenue CAGR +9.2%; 10y CAGR +10.3%.
- Net margin at 2.69% (contracting ▼).
- Return on equity 12.05%, ROA 3.89%, ROIC 11.00%.
- Gross margin 0.00%, operating margin 4.24%.
- Free cash flow margin 3.59% ($16.07B).
- Net income down ▼ +16.3% YoY.
- Debt/equity 2.10, current ratio 0.78, net debt $40.92B.
- Asset turnover 1.45 — capital efficiency.
| FY | Revenue | Rev YoY | Gross% | Op% | Net% | FCF | ROE% |
|---|---|---|---|---|---|---|---|
| 2024 | $400.28B | +7.7% | 0.00 | 8.07 | 3.60 | $20.70B | 14.66 |
| 2025 | $447.57B | +11.8% | 0.00 | 4.24 | 2.69 | $16.07B | 12.05 |
| Quarter end | Revenue | YoY | QoQ | Net margin |
|---|---|---|---|---|
| Sep 30, 2024 | $100.82B | +9.2% | — | 6.01% |
| Mar 31, 2025 | $109.58B | +9.8% | +8.7% | 5.74% |
| Jun 30, 2025 | $111.62B | +12.9% | +1.9% | 3.05% |
| Sep 30, 2025 | $113.16B | +12.2% | +1.4% | 2.07% |
| Mar 31, 2026 | $111.72B | +2.0% | -1.3% | 5.62% |
| Jun 30, 2026 | $112.03B | +0.4% | +0.3% | 4.90% |
Pro analysis — preview
— score, signals & key metrics shown; full reasoning lockedValuation
Market cap $348.81B at $388.61 per share. Trailing P/E 29.37, P/S 0.78, P/B 10.56. EV/Operating income ≈ 20.55 (EV $389.73B).
- Market cap $348.81B at $388.61 per share.
Price & Technicals
Price $388.61 — uptrend (above 200-DMA); 1-month momentum negative. RSI(14) 25.43 (oversold).
- Price $388.61 — uptrend (above 200-DMA); 1-month momentum negative.
Macro & Rates
Risk-on · Supportive. Real GDP growth 1.50% (quarterly, as of Apr 1, 2026). CPI inflation +3.3% YoY. Fed funds rate 3.63%, 10Y Treasury 4.71%.
- Market regime: Risk-on · Supportive.
Risk Scorecard
Composite risk Elevated. Leverage debt/equity 2.10 (high). Liquidity current ratio 0.78 (stretched).
- Composite risk: Elevated.
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3 sections free · 4 Pro previews · composite -25
Macro exposure
Defensive · Low sensitivityMacro regime: Risk-on · Supportive. UnitedHealth Group is a defensive name (low macro sensitivity) — a supportive backdrop, though defensives lag risk-on tapes.
Analytical read
deterministic previewMarket regime: Risk-on · Supportive..
Peer comparison
Defensive groupHow UNH stacks up against tracked peers with similar macro sensitivity — by analytical score and macro exposure.
| Company | Score | Macro |
|---|---|---|
| DexCom Inc. DXCM | 19 | Neutral |
| Bristol-Myers Squibb BMY | 19 | Neutral |
| Eli Lilly & Co. LLY | 17 | Neutral |
| HCA Healthcare HCA | 9 | Neutral |
| Gilead Sciences GILD | 8 | Neutral |
| Johnson & Johnson JNJ | 8 | Neutral |
| Abbott Laboratories ABT | 7 | Neutral |
| Biogen Inc. BIIB | 7 | Neutral |
| Intuitive Surgical Inc. ISRG | 7 | Neutral |
| Coca-Cola Co. KO | 6 | Neutral |
| Zoetis Inc. ZTS | 6 | Neutral |
| Thermo Fisher Scientific TMO | 3 | Neutral |
| Regeneron Pharmaceuticals REGN | 3 | Neutral |
| Danaher Corp. DHR | 1 | Neutral |
| Merck & Co. MRK | 0 | Neutral |
| Illumina Inc. ILMN | 0 | Neutral |
| Colgate-Palmolive CL | -2 | Neutral |
| Vertex Pharmaceuticals VRTX | -2 | Neutral |
| AbbVie Inc. ABBV | -7 | Neutral |
| Procter & Gamble PG | -7 | Neutral |
| CVS Health Corp. CVS | -8 | Neutral |
| Walmart Inc. WMT | -8 | Neutral |
| Mondelez International MDLZ | -10 | Neutral |
| Amgen Inc. AMGN | -10 | Neutral |
| Cigna Group CI | -11 | Neutral |
| Kroger Co. KR | -12 | Neutral |
| Costco Wholesale COST | -14 | Neutral |
| Pfizer Inc. PFE | -15 | Neutral |
| PepsiCo Inc. PEP | -16 | Neutral |
| Sysco Corp. SYY | -16 | Neutral |
| Hershey Co. HSY | -17 | Neutral |
| Kimberly-Clark Corp. KMB | -18 | Neutral |
| Moderna Inc. MRNA | -21 | Neutral |
| UnitedHealth Group UNH● you | -25 | Neutral |