Stock Analysis on Net

UnitedHealth Group Inc. (NYSE:UNH)

Enterprise Value (EV)

Microsoft Excel

Current Enterprise Value (EV)

UnitedHealth Group Inc., current enterprise value calculation

Microsoft Excel
Current share price (P) $523.75
No. shares of common stock outstanding 914,712,333
US$ in millions
Common equity (market value)1 479,081
Add: Preferred stock, $0.001 par value; no shares issued or outstanding (per books)
Add: Nonredeemable noncontrolling interests (per books) 5,610
Total equity 484,691
Add: Short-term borrowings and current maturities of long-term debt (per books) 4,545
Add: Long-term debt, less current maturities (per books) 72,359
Total equity and debt 561,595
Less: Cash and cash equivalents 25,312
Less: Short-term investments 3,801
Less: Assets under management
Enterprise value (EV) 532,482

Based on: 10-K (reporting date: 2024-12-31).

1 Common equity (market value) = Share price × No. shares of common stock outstanding
= 523.75 × 914,712,333


Historical Enterprise Value (EV)

UnitedHealth Group Inc., EV calculation

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Share price1, 2 $468.56 $498.28 $484.33 $478.23 $334.65
No. shares of common stock outstanding1 914,712,333 921,934,109 932,846,602 940,899,146 945,319,404
US$ in millions
Common equity (market value)3 428,598 459,381 451,806 449,966 316,351
Add: Preferred stock, $0.001 par value; no shares issued or outstanding (book value)
Add: Nonredeemable noncontrolling interests (book value) 5,610 5,665 3,678 3,285 2,837
Total equity 434,208 465,046 455,484 453,251 319,188
Add: Short-term borrowings and current maturities of long-term debt (book value) 4,545 4,274 3,110 3,620 4,819
Add: Long-term debt, less current maturities (book value) 72,359 58,263 54,513 42,383 38,648
Total equity and debt 511,112 527,583 513,107 499,254 362,655
Less: Cash and cash equivalents 25,312 25,427 23,365 21,375 16,921
Less: Short-term investments 3,801 4,201 4,546 2,532 2,860
Less: Assets under management 3,755 4,087 4,449 4,076
Enterprise value (EV) 481,999 494,200 481,109 470,898 338,798

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

1 Data adjusted for splits and stock dividends.

2 Closing price as at the filing date of UnitedHealth Group Inc. Annual Report.

3 2024 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 468.56 × 914,712,333

Item Description The company
EV Enterprise value is total company value (the market value of common equity, debt, and preferred equity) minus the value of cash and short-term investments. UnitedHealth Group Inc. EV increased from 2022 to 2023 but then slightly decreased from 2023 to 2024 not reaching 2022 level.