UNITEDHEALTH GROUP INC. |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 521.2 USD | +0.71% |
|
+2.80% | -1.00% |
| 07:00am | The Dow's climb to a record 40,000 points | RE |
| May. 15 | UnitedHealth Group Incorporated Announces Management Changes, Effective June 4, 2024 | CI |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 278,521 | 332,732 | 472,941 | 495,373 | 486,945 | 479,769 | - | - |
| Enterprise Value (EV) 1 | 308,214 | 359,278 | 495,037 | 514,300 | 519,854 | 503,044 | 494,324 | 475,262 |
| P/E ratio | 20.5 x | 21.9 x | 27.8 x | 25 x | 22.1 x | 28.8 x | 17.6 x | 15.6 x |
| Yield | 1.41% | 1.38% | 1.12% | 1.21% | 1.38% | 1.51% | 1.68% | 1.84% |
| Capitalization / Revenue | 1.15 x | 1.29 x | 1.64 x | 1.53 x | 1.31 x | 1.2 x | 1.12 x | 1.04 x |
| EV / Revenue | 1.27 x | 1.4 x | 1.72 x | 1.59 x | 1.4 x | 1.26 x | 1.15 x | 1.03 x |
| EV / EBITDA | 13.8 x | 14.2 x | 18.3 x | 16.2 x | 14.3 x | 13 x | 11.4 x | 10 x |
| EV / FCF | 18.8 x | 17.9 x | 24.9 x | 22 x | 20.2 x | 21.8 x | 15.8 x | 13.8 x |
| FCF Yield | 5.32% | 5.6% | 4.02% | 4.55% | 4.94% | 4.59% | 6.32% | 7.23% |
| Price to Book | 4.84 x | 5.1 x | 6.28 x | 6.18 x | 5.48 x | 4.77 x | 4.15 x | 3.63 x |
| Nbr of stocks (in thousands) | 947,415 | 948,821 | 941,851 | 934,349 | 924,925 | 920,385 | - | - |
| Reference price 2 | 294.0 | 350.7 | 502.1 | 530.2 | 526.5 | 521.3 | 521.3 | 521.3 |
| Announcement Date | 1/15/20 | 1/20/21 | 1/19/22 | 1/13/23 | 1/12/24 | - | - | - |
1USD in Million2USD
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 242,155 | 257,141 | 287,597 | 324,162 | 371,622 | 398,789 | 429,333 | 461,088 |
| EBITDA 1 | 22,405 | 25,296 | 27,073 | 31,835 | 36,330 | 38,798 | 43,480 | 47,497 |
| EBIT 1 | 19,685 | 22,405 | 23,970 | 28,435 | 32,358 | 35,226 | 39,388 | 43,284 |
| Operating Margin | 8.13% | 8.71% | 8.33% | 8.77% | 8.71% | 8.83% | 9.17% | 9.39% |
| Earnings before Tax (EBT) 1 | 17,981 | 20,742 | 22,310 | 26,343 | 29,112 | 25,260 | 35,646 | 39,603 |
| Net income 1 | 13,839 | 15,403 | 17,285 | 20,120 | 22,381 | 16,715 | 27,014 | 30,008 |
| Net margin | 5.71% | 5.99% | 6.01% | 6.21% | 6.02% | 4.19% | 6.29% | 6.51% |
| EPS 2 | 14.33 | 16.03 | 18.08 | 21.18 | 23.86 | 18.13 | 29.61 | 33.42 |
| Free Cash Flow 1 | 16,392 | 20,123 | 19,889 | 23,404 | 25,682 | 23,075 | 31,259 | 34,360 |
| FCF margin | 6.77% | 7.83% | 6.92% | 7.22% | 6.91% | 5.79% | 7.28% | 7.45% |
| FCF Conversion (EBITDA) | 73.16% | 79.55% | 73.46% | 73.52% | 70.69% | 59.48% | 71.89% | 72.34% |
| FCF Conversion (Net income) | 118.45% | 130.64% | 115.07% | 116.32% | 114.75% | 138.05% | 115.71% | 114.5% |
| Dividend per Share 2 | 4.140 | 4.830 | 5.600 | 6.400 | 7.290 | 7.865 | 8.734 | 9.607 |
| Announcement Date | 1/15/20 | 1/20/21 | 1/19/22 | 1/13/23 | 1/12/24 | - | - | - |
1USD in Million2USD
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 | 2025 Q1 | 2025 Q2 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 73,743 | 80,149 | 80,332 | 80,894 | 82,787 | 91,931 | 92,903 | 92,361 | 94,427 | 99,796 | 98,704 | 98,905 | 100,679 | 105,986 | 106,265 |
| EBITDA 1 | 6,312 | 7,738 | 7,934 | 8,290 | 7,873 | 9,056 | 9,078 | 9,533 | 8,663 | 8,928 | 9,673 | 10,312 | 9,654 | 10,375 | 10,978 |
| EBIT 1 | 5,541 | 6,950 | 7,132 | 7,462 | 6,891 | 8,086 | 8,057 | 8,526 | 7,689 | 7,931 | 8,698 | 9,309 | 8,782 | 9,794 | 10,025 |
| Operating Margin | 7.51% | 8.67% | 8.88% | 9.22% | 8.32% | 8.8% | 8.67% | 9.23% | 8.14% | 7.95% | 8.81% | 9.41% | 8.72% | 9.24% | 9.43% |
| Earnings before Tax (EBT) 1 | 5,110 | 6,517 | 6,665 | 6,946 | 6,215 | 7,332 | 7,229 | 7,692 | 6,859 | 1 | 7,780 | 8,367 | 7,766 | 8,419 | 8,905 |
| Net income 1 | 4,071 | 5,027 | 5,070 | 5,262 | 4,761 | 5,611 | 5,474 | 5,841 | 5,455 | -1,409 | 5,841 | 6,327 | 5,845 | 6,447 | 6,863 |
| Net margin | 5.52% | 6.27% | 6.31% | 6.5% | 5.75% | 6.1% | 5.89% | 6.32% | 5.78% | -1.41% | 5.92% | 6.4% | 5.81% | 6.08% | 6.46% |
| EPS 2 | 4.260 | 5.270 | 5.340 | 5.550 | 5.030 | 5.950 | 5.820 | 6.240 | 5.830 | -1.530 | 6.309 | 6.859 | 6.355 | 7.014 | 7.493 |
| Dividend per Share 2 | 1.450 | 1.450 | 1.650 | 1.650 | 1.650 | 1.650 | 1.880 | - | 1.880 | - | 1.971 | 1.971 | 1.971 | 2.009 | 2.243 |
| Announcement Date | 1/19/22 | 4/14/22 | 7/15/22 | 10/14/22 | 1/13/23 | 4/14/23 | 7/14/23 | 10/13/23 | 1/12/24 | 4/16/24 | - | - | - | - | - |
1USD in Million2USD
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 29,693 | 26,546 | 22,096 | 18,927 | 32,909 | 23,275 | 14,555 | - |
| Net Cash position 1 | - | - | - | - | - | - | - | 4,507 |
| Leverage (Debt/EBITDA) | 1.325 x | 1.049 x | 0.8162 x | 0.5945 x | 0.9058 x | 0.5999 x | 0.3348 x | - |
| Free Cash Flow 1 | 16,392 | 20,123 | 19,889 | 23,404 | 25,682 | 23,075 | 31,259 | 34,360 |
| ROE (net income / shareholders' equity) | 25.7% | 24.9% | 24.1% | 25.7% | 26.8% | 24.9% | 25.8% | 25.7% |
| ROA (Net income/ Total Assets) | 8.48% | 8.3% | 8.44% | 8.79% | 8.62% | 7.1% | 8.72% | 9.13% |
| Assets 1 | 163,196 | 185,589 | 204,748 | 228,956 | 259,713 | 235,358 | 309,869 | 328,697 |
| Book Value Per Share 2 | 60.80 | 68.80 | 80.00 | 85.70 | 96.10 | 109.0 | 125.0 | 143.0 |
| Cash Flow per Share 2 | 19.10 | 23.10 | 23.40 | 27.60 | 31.00 | 34.40 | 37.10 | 42.00 |
| Capex 1 | 2,071 | 2,051 | 2,454 | 2,802 | 3,386 | 3,470 | 3,857 | 4,035 |
| Capex / Sales | 0.86% | 0.8% | 0.85% | 0.86% | 0.91% | 0.87% | 0.9% | 0.88% |
| Announcement Date | 1/15/20 | 1/20/21 | 1/19/22 | 1/13/23 | 1/12/24 | - | - | - |
1USD in Million2USD
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Year-on-year evolution of the Yield
Change in Enterprise Value/EBITDA
Trading Rating
Investor Rating
ESG Refinitiv
B-
Sell
Buy
Mean consensus
BUY
Number of Analysts
27
Last Close Price
521.3
USD
Average target price
568.1
USD
Spread / Average Target
+8.98%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -1.00% | 480B | |
| +15.34% | 126B | |
| +13.31% | 96.37B | |
| -22.40% | 42.8B | |
| +3.95% | 41.17B | |
| -4.51% | 20.22B | |
| -25.90% | 2.62B | |
| -18.82% | 1.34B | |
| -2.14% | 463M |
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- Financials UnitedHealth Group Inc.
