UnitedHealth Group Incorporated

UNHNYSE

$423.71

Last price · USD

Market cap: $385.6B
P/E: 32.0x
EV / EBITDA: 19.1x
P/S: 0.9x
FCF yield: 4.2%
Div. yield: 2.05%

Multiples use last price and FY2025 annual figures. Market cap estimated from diluted shares.

UnitedHealth Group Incorporated balance sheet

Annual · USD millions except per-share data · 44 lines

Fiscal year	2025latest	2024	2023	2022	2021	CAGR
Current assets
Cash & cash equivalents	24,365	25,312	25,427	23,365	21,375	+3.3%
Short-term investments	3,756	3,801	4,201	4,546	2,532	+10.4%
Cash & short-term investments	28,121	29,113	29,628	27,911	23,907	+4.1%
Net receivables	52,715	48,454	38,970	30,450	28,082	+17.1%
Accounts receivable	23,018	22,365	21,276	17,681	14,216	+12.8%
Other receivables	29,697	26,089	17,694	12,769	13,866	+21.0%
Prepaids	0	0	0	0	5,320	—
Other current assets	9,746	8,212	9,839	10,708	4,449	+21.7%
Total current assets	90,582	85,779	78,437	69,069	61,758	+10.0%
Non-current assets
Property, plant & equipment (net)	10,762	10,553	11,450	10,128	8,969	+4.7%
Goodwill	110,499	106,734	103,732	93,352	75,795	+9.9%
Intangible assets	20,474	23,268	15,194	14,401	10,044	+19.5%
Goodwill & intangible assets	130,973	130,002	118,926	107,753	85,839	+11.1%
Long-term investments	54,251	52,354	47,609	43,728	43,114	+5.9%
Tax assets	0	0	0	2,769	(94,808)	—
Other non-current assets	23,013	19,590	17,298	12,258	107,334	-32.0%
Total non-current assets	218,999	212,499	195,283	176,636	150,448	+9.8%
Total assets	309,581	298,278	273,720	245,705	212,206	+9.9%
Current liabilities
Accounts payable	77,369	68,561	31,958	56,771	49,126	+12.0%
Total payables	77,369	68,561	31,958	56,771	49,126	+12.0%
Short-term debt	6,069	4,545	5,312	3,110	3,620	+13.8%
Deferred revenue	3,413	3,317	3,355	3,075	2,571	+7.3%
Other current liabilities	28,046	27,346	58,429	26,281	22,975	+5.1%
Total current liabilities	114,897	103,769	99,054	89,237	78,292	+10.1%
Non-current liabilities
Long-term debt	72,320	72,359	58,263	54,513	42,383	+14.3%
Capital lease obligations (non-current)	0	0	3,860	0	0	—
Deferred revenue (non-current)	0	0	3,355	0	(3,265)	—
Deferred tax liabilities (non-current)	2,421	3,620	3,021	2,769	3,265	-7.2%
Other non-current liabilities	18,245	15,939	11,943	12,839	15,052	+4.9%
Total non-current liabilities	92,986	91,918	80,442	70,121	57,435	+12.8%
Other liabilities	0	0	(4,695)	0	0	—
Capital lease obligations	0	0	3,860	0	0	—
Total debt	78,389	76,904	67,435	57,623	46,003	+14.3%
Total liabilities	207,883	195,687	174,801	159,358	135,727	+11.2%
Stockholders' equity
Common stock	9	9	9	9	10	-2.6%
Retained earnings	95,603	96,036	95,774	86,156	77,134	+5.5%
Additional paid-in capital	559	0	0	0	0	—
Accumulated other comprehensive income (loss)	(2,061)	(3,387)	(7,027)	(8,393)	(5,384)	—
Total stockholders' equity	94,110	92,658	88,756	77,772	71,760	+7.0%
Total equity	101,698	102,591	98,919	86,347	76,479	+7.4%
Minority interest	7,588	9,933	10,163	8,575	4,719	+12.6%
Total liabilities & equity	309,581	298,278	273,720	245,705	212,206	+9.9%
Additional fields
Net Debt	54,024	51,592	42,008	34,258	24,628	+21.7%
Total Investments	58,007	56,155	51,810	48,274	45,646	+6.2%

UnitedHealth Group Incorporated

UNHNYSE

$423.71

Last price · USD

Market cap: $385.6B
P/E: 32.0x
EV / EBITDA: 19.1x
P/S: 0.9x
FCF yield: 4.2%
Div. yield: 2.05%

Multiples use last price and FY2025 annual figures. Market cap estimated from diluted shares.

UnitedHealth Group Incorporated balance sheet

Annual · USD millions except per-share data · 44 lines

Fiscal year	2025latest	2024	2023	2022	2021	CAGR
Current assets
Cash & cash equivalents	24,365	25,312	25,427	23,365	21,375	+3.3%
Short-term investments	3,756	3,801	4,201	4,546	2,532	+10.4%
Cash & short-term investments	28,121	29,113	29,628	27,911	23,907	+4.1%
Net receivables	52,715	48,454	38,970	30,450	28,082	+17.1%
Accounts receivable	23,018	22,365	21,276	17,681	14,216	+12.8%
Other receivables	29,697	26,089	17,694	12,769	13,866	+21.0%
Prepaids	0	0	0	0	5,320	—
Other current assets	9,746	8,212	9,839	10,708	4,449	+21.7%
Total current assets	90,582	85,779	78,437	69,069	61,758	+10.0%
Non-current assets
Property, plant & equipment (net)	10,762	10,553	11,450	10,128	8,969	+4.7%
Goodwill	110,499	106,734	103,732	93,352	75,795	+9.9%
Intangible assets	20,474	23,268	15,194	14,401	10,044	+19.5%
Goodwill & intangible assets	130,973	130,002	118,926	107,753	85,839	+11.1%
Long-term investments	54,251	52,354	47,609	43,728	43,114	+5.9%
Tax assets	0	0	0	2,769	(94,808)	—
Other non-current assets	23,013	19,590	17,298	12,258	107,334	-32.0%
Total non-current assets	218,999	212,499	195,283	176,636	150,448	+9.8%
Total assets	309,581	298,278	273,720	245,705	212,206	+9.9%
Current liabilities
Accounts payable	77,369	68,561	31,958	56,771	49,126	+12.0%
Total payables	77,369	68,561	31,958	56,771	49,126	+12.0%
Short-term debt	6,069	4,545	5,312	3,110	3,620	+13.8%
Deferred revenue	3,413	3,317	3,355	3,075	2,571	+7.3%
Other current liabilities	28,046	27,346	58,429	26,281	22,975	+5.1%
Total current liabilities	114,897	103,769	99,054	89,237	78,292	+10.1%
Non-current liabilities
Long-term debt	72,320	72,359	58,263	54,513	42,383	+14.3%
Capital lease obligations (non-current)	0	0	3,860	0	0	—
Deferred revenue (non-current)	0	0	3,355	0	(3,265)	—
Deferred tax liabilities (non-current)	2,421	3,620	3,021	2,769	3,265	-7.2%
Other non-current liabilities	18,245	15,939	11,943	12,839	15,052	+4.9%
Total non-current liabilities	92,986	91,918	80,442	70,121	57,435	+12.8%
Other liabilities	0	0	(4,695)	0	0	—
Capital lease obligations	0	0	3,860	0	0	—
Total debt	78,389	76,904	67,435	57,623	46,003	+14.3%
Total liabilities	207,883	195,687	174,801	159,358	135,727	+11.2%
Stockholders' equity
Common stock	9	9	9	9	10	-2.6%
Retained earnings	95,603	96,036	95,774	86,156	77,134	+5.5%
Additional paid-in capital	559	0	0	0	0	—
Accumulated other comprehensive income (loss)	(2,061)	(3,387)	(7,027)	(8,393)	(5,384)	—
Total stockholders' equity	94,110	92,658	88,756	77,772	71,760	+7.0%
Total equity	101,698	102,591	98,919	86,347	76,479	+7.4%
Minority interest	7,588	9,933	10,163	8,575	4,719	+12.6%
Total liabilities & equity	309,581	298,278	273,720	245,705	212,206	+9.9%
Additional fields
Net Debt	54,024	51,592	42,008	34,258	24,628	+21.7%
Total Investments	58,007	56,155	51,810	48,274	45,646	+6.2%