Stock Analysis on Net
Stock Analysis on Net

UnitedHealth Group Inc. (NYSE:UNH)

Common Stock Valuation Ratios (Price Multiples) 
Quarterly Data

Microsoft Excel

Valuation ratios measure the quantity of an asset or flaw (e.g., earnings) associated with ownership of a specified claim (e.g., a share of ownership of the enterprise).

Historical Valuation Ratios (Summary)

UnitedHealth Group Inc., historical price multiples (quarterly data)

Microsoft Excel
Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Price to earnings (P/E) 35.85 36.59 30.38 20.53 22.75 22.15 22.01 22.46 26.13 27.70 27.29 26.03 27.92 27.41 23.06 20.54 17.70 16.88 19.91 20.48 — — —
Price to operating profit (P/OP) 15.94 16.11 14.49 14.20 15.63 15.33 15.41 15.89 18.75 19.96 19.69 18.77 19.63 19.05 16.12 14.12 12.35 11.85 13.80 14.40 — — —
Price to sales (P/S) 1.32 1.35 1.24 1.25 1.39 1.35 1.37 1.40 1.62 1.66 1.61 1.58 1.55 1.47 1.49 1.24 1.18 1.17 1.12 1.18 — — —
Price to book value (P/BV) 5.43 5.77 5.38 5.18 5.84 5.68 5.60 5.81 6.80 6.94 6.54 6.27 6.13 5.76 5.86 4.83 4.54 4.53 4.81 4.92 4.32 4.40 4.37

Based on: 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

Valuation ratio Description The company
P/E ratio The P/E ratio tells analyst how much an investor in common stock pays per dollar of current earnings. UnitedHealth Group Inc. P/E ratio increased from Q1 2024 to Q2 2024 but then slightly decreased from Q2 2024 to Q3 2024.
P/OP ratio Because P/E ratio is calculated using net income, the ratio can be sensitive to nonrecurring earnings and capital structure, analysts may use price to operating profit. UnitedHealth Group Inc. P/OP ratio increased from Q1 2024 to Q2 2024 but then slightly decreased from Q2 2024 to Q3 2024.
P/S ratio An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative. UnitedHealth Group Inc. P/S ratio increased from Q1 2024 to Q2 2024 but then slightly decreased from Q2 2024 to Q3 2024.
P/BV ratio The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company required rate of return and its actual rate of return. UnitedHealth Group Inc. P/BV ratio increased from Q1 2024 to Q2 2024 but then slightly decreased from Q2 2024 to Q3 2024 not reaching Q1 2024 level.

Price to Earnings (P/E)

UnitedHealth Group Inc., historical P/E calculation (quarterly data)

Microsoft Excel
Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
No. shares of common stock outstanding1 920,284,334 923,418,150 920,385,075 921,934,109 924,925,293 926,305,139 931,032,030 932,846,602 934,349,073 935,382,710 938,171,603 940,899,146 941,851,250 942,917,366 943,702,120 945,319,404 948,820,710 950,335,762 948,379,502 948,573,372 947,414,929 947,680,609 950,343,113
Selected Financial Data (US$)
Net earnings (loss) attributable to UnitedHealth Group common shareholders (in millions) 6,055 4,216 (1,409) 5,455 5,841 5,474 5,611 4,761 5,262 5,070 5,027 4,071 4,086 4,266 4,862 2,212 3,172 6,637 3,382 3,541 3,538 3,293 3,467
Earnings per share (EPS)2 15.56 15.27 16.69 24.28 23.45 22.79 22.24 21.57 20.80 19.52 18.60 18.37 16.38 15.39 17.89 16.29 17.63 17.99 14.50 14.59 0.00 0.00 0.00
Share price1, 3 557.77 558.76 507.03 498.28 533.46 504.80 489.44 484.33 543.43 540.65 507.62 478.23 457.33 421.90 412.50 334.65 312.10 303.61 288.77 298.78 250.52 246.45 238.05
Valuation Ratio
P/E ratio4 35.85 36.59 30.38 20.53 22.75 22.15 22.01 22.46 26.13 27.70 27.29 26.03 27.92 27.41 23.06 20.54 17.70 16.88 19.91 20.48 — — —
Benchmarks
P/E Ratio, Competitors5
Abbott Laboratories 34.10 33.17 32.73 34.57 31.95 36.16 33.21 26.76 21.95 22.24 25.48 29.13 31.42 33.80 36.79 48.49 58.45 58.36 45.61 41.83 — — —
Cigna Group 28.81 25.07 27.03 19.03 17.59 12.80 11.43 13.13 14.99 15.60 15.72 13.43 8.43 8.60 10.62 8.71 14.60 12.08 13.82 13.26 — — —
CVS Health Corp. 15.46 9.88 9.66 11.47 10.28 33.58 22.61 27.53 40.34 16.30 16.49 17.39 16.78 14.94 14.44 12.88 10.69 10.20 10.94 14.15 — — —
Elevance Health Inc. 16.06 18.05 19.55 19.80 18.14 17.03 17.46 19.20 18.75 18.07 20.46 18.13 18.65 22.10 19.99 15.87 14.35 11.97 14.80 15.96 — — —
Humana Inc. 23.60 25.45 19.12 17.64 19.98 17.74 20.27 22.52 25.24 19.26 18.48 18.34 22.09 22.82 15.20 14.48 13.49 15.26 19.09 18.10 — — —
Intuitive Surgical Inc. 82.75 77.23 65.38 74.11 61.96 79.78 79.43 64.99 56.03 52.74 55.10 59.94 71.86 69.15 89.95 87.47 82.17 70.73 44.27 48.72 — — —
Medtronic PLC 26.49 25.70 29.96 30.94 26.88 24.40 22.61 23.38 29.39 30.66 46.71 46.56 55.13 42.80 32.34 26.30 25.38 31.86 32.75 28.78 — — —

Based on: 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Data adjusted for splits and stock dividends.

2 Q3 2024 Calculation
EPS = (Net earnings (loss) attributable to UnitedHealth Group common shareholdersQ3 2024 + Net earnings (loss) attributable to UnitedHealth Group common shareholdersQ2 2024 + Net earnings (loss) attributable to UnitedHealth Group common shareholdersQ1 2024 + Net earnings (loss) attributable to UnitedHealth Group common shareholdersQ4 2023) ÷ No. shares of common stock outstanding
= (6,055,000,000 + 4,216,000,000 + -1,409,000,000 + 5,455,000,000) ÷ 920,284,334 = 15.56

3 Closing price as at the filing date of UnitedHealth Group Inc. Quarterly or Annual Report.

4 Q3 2024 Calculation
P/E ratio = Share price ÷ EPS
= 557.77 ÷ 15.56 = 35.85

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/E ratio The P/E ratio tells analyst how much an investor in common stock pays per dollar of current earnings. UnitedHealth Group Inc. P/E ratio increased from Q1 2024 to Q2 2024 but then slightly decreased from Q2 2024 to Q3 2024.

Price to Operating Profit (P/OP)

UnitedHealth Group Inc., historical P/OP calculation (quarterly data)

Microsoft Excel
Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
No. shares of common stock outstanding1 920,284,334 923,418,150 920,385,075 921,934,109 924,925,293 926,305,139 931,032,030 932,846,602 934,349,073 935,382,710 938,171,603 940,899,146 941,851,250 942,917,366 943,702,120 945,319,404 948,820,710 950,335,762 948,379,502 948,573,372 947,414,929 947,680,609 950,343,113
Selected Financial Data (US$)
Earnings from operations (in millions) 8,708 7,875 7,931 7,689 8,526 8,057 8,086 6,891 7,462 7,132 6,950 5,541 5,712 5,978 6,739 3,517 4,651 9,241 4,996 5,095 5,014 4,744 4,832
Operating profit per share2 34.99 34.68 34.99 35.10 34.12 32.92 31.76 30.48 28.99 27.09 25.77 25.48 23.30 22.15 25.59 23.70 25.28 25.62 20.93 20.75 0.00 0.00 0.00
Share price1, 3 557.77 558.76 507.03 498.28 533.46 504.80 489.44 484.33 543.43 540.65 507.62 478.23 457.33 421.90 412.50 334.65 312.10 303.61 288.77 298.78 250.52 246.45 238.05
Valuation Ratio
P/OP ratio4 15.94 16.11 14.49 14.20 15.63 15.33 15.41 15.89 18.75 19.96 19.69 18.77 19.63 19.05 16.12 14.12 12.35 11.85 13.80 14.40 — — —
Benchmarks
P/OP Ratio, Competitors5
Abbott Laboratories 29.37 28.44 28.99 30.54 27.48 30.47 27.70 22.18 18.35 18.63 21.33 24.45 26.84 29.01 31.39 40.69 45.82 45.19 35.87 34.03 — — —
Cigna Group 9.41 10.37 11.15 11.51 11.38 10.51 9.34 10.40 12.05 10.20 10.40 9.08 9.12 9.28 11.13 9.03 9.24 7.58 8.59 8.38 — — —
CVS Health Corp. 8.14 5.74 5.62 6.96 6.32 15.41 11.67 14.75 20.01 9.97 10.06 10.43 9.43 7.87 7.61 6.65 5.89 5.98 6.19 7.83 — — —
Elevance Health Inc. 13.12 14.89 15.42 15.57 14.38 13.36 13.61 15.05 15.30 14.72 17.53 15.70 15.81 19.93 15.79 12.10 10.93 9.03 11.95 13.55 — — —
Humana Inc. 11.63 13.46 10.79 10.94 13.43 13.47 14.93 16.63 18.96 18.96 17.45 17.08 21.55 14.39 11.02 9.78 9.84 11.28 14.59 15.35 — — —
Intuitive Surgical Inc. 89.92 82.80 70.29 75.42 55.63 70.08 66.95 54.49 46.65 44.54 49.98 56.11 67.95 69.51 89.18 88.37 83.88 71.30 43.68 48.89 — — —
Medtronic PLC 19.69 18.94 19.27 21.20 19.53 17.99 19.55 20.48 25.40 27.20 38.83 37.44 49.88 42.55 35.86 26.29 21.01 23.52 22.21 21.26 — — —

Based on: 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Data adjusted for splits and stock dividends.

2 Q3 2024 Calculation
Operating profit per share = (Earnings from operationsQ3 2024 + Earnings from operationsQ2 2024 + Earnings from operationsQ1 2024 + Earnings from operationsQ4 2023) ÷ No. shares of common stock outstanding
= (8,708,000,000 + 7,875,000,000 + 7,931,000,000 + 7,689,000,000) ÷ 920,284,334 = 34.99

3 Closing price as at the filing date of UnitedHealth Group Inc. Quarterly or Annual Report.

4 Q3 2024 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= 557.77 ÷ 34.99 = 15.94

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/OP ratio Because P/E ratio is calculated using net income, the ratio can be sensitive to nonrecurring earnings and capital structure, analysts may use price to operating profit. UnitedHealth Group Inc. P/OP ratio increased from Q1 2024 to Q2 2024 but then slightly decreased from Q2 2024 to Q3 2024.

Price to Sales (P/S)

UnitedHealth Group Inc., historical P/S calculation (quarterly data)

Microsoft Excel
Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
No. shares of common stock outstanding1 920,284,334 923,418,150 920,385,075 921,934,109 924,925,293 926,305,139 931,032,030 932,846,602 934,349,073 935,382,710 938,171,603 940,899,146 941,851,250 942,917,366 943,702,120 945,319,404 948,820,710 950,335,762 948,379,502 948,573,372 947,414,929 947,680,609 950,343,113
Selected Financial Data (US$)
Revenues, customers (in millions) 99,177 97,858 98,785 93,248 91,364 91,788 91,133 81,932 80,381 80,037 79,782 72,930 71,834 70,765 69,744 65,022 64,764 61,797 64,056 60,468 59,885 60,013 59,903
Sales per share2 422.77 412.87 407.64 398.65 385.13 372.70 358.19 345.32 335.13 325.62 314.77 303.19 294.49 286.66 276.92 270.43 264.63 259.07 257.73 253.30 0.00 0.00 0.00
Share price1, 3 557.77 558.76 507.03 498.28 533.46 504.80 489.44 484.33 543.43 540.65 507.62 478.23 457.33 421.90 412.50 334.65 312.10 303.61 288.77 298.78 250.52 246.45 238.05
Valuation Ratio
P/S ratio4 1.32 1.35 1.24 1.25 1.39 1.35 1.37 1.40 1.62 1.66 1.61 1.58 1.55 1.47 1.49 1.24 1.18 1.17 1.12 1.18 — — —
Benchmarks
P/S Ratio, Competitors5
Abbott Laboratories 4.77 4.53 4.57 4.93 4.13 4.64 4.64 4.25 3.85 4.18 4.42 4.78 5.38 5.36 5.64 6.30 6.13 5.77 5.09 4.83 — — —
Cigna Group 0.38 0.43 0.48 0.51 0.49 0.46 0.42 0.49 0.55 0.48 0.48 0.42 0.42 0.42 0.55 0.46 0.50 0.41 0.45 0.44 — — —
CVS Health Corp. 0.21 0.20 0.20 0.27 0.26 0.29 0.27 0.36 0.40 0.43 0.44 0.47 0.45 0.39 0.40 0.35 0.32 0.32 0.30 0.37 — — —
Elevance Health Inc. 0.60 0.71 0.72 0.70 0.66 0.66 0.68 0.74 0.77 0.75 0.89 0.81 0.78 0.73 0.76 0.60 0.61 0.63 0.65 0.74 — — —
Humana Inc. 0.28 0.39 0.35 0.42 0.59 0.61 0.66 0.68 0.78 0.68 0.65 0.65 0.73 0.71 0.73 0.64 0.76 0.76 0.74 0.76 — — —
Intuitive Surgical Inc. 23.60 21.35 17.76 18.71 13.72 17.06 16.21 13.81 12.62 12.69 15.34 17.89 22.12 21.73 23.19 21.29 20.09 18.44 13.33 15.01 — — —
Medtronic PLC 3.44 3.30 3.44 3.72 3.55 3.42 3.79 3.72 4.54 4.54 5.74 5.57 5.71 5.43 5.11 4.36 4.34 4.82 4.72 4.36 — — —

Based on: 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Data adjusted for splits and stock dividends.

2 Q3 2024 Calculation
Sales per share = (Revenues, customersQ3 2024 + Revenues, customersQ2 2024 + Revenues, customersQ1 2024 + Revenues, customersQ4 2023) ÷ No. shares of common stock outstanding
= (99,177,000,000 + 97,858,000,000 + 98,785,000,000 + 93,248,000,000) ÷ 920,284,334 = 422.77

3 Closing price as at the filing date of UnitedHealth Group Inc. Quarterly or Annual Report.

4 Q3 2024 Calculation
P/S ratio = Share price ÷ Sales per share
= 557.77 ÷ 422.77 = 1.32

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/S ratio An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative. UnitedHealth Group Inc. P/S ratio increased from Q1 2024 to Q2 2024 but then slightly decreased from Q2 2024 to Q3 2024.

Price to Book Value (P/BV)

UnitedHealth Group Inc., historical P/BV calculation (quarterly data)

Microsoft Excel
Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
No. shares of common stock outstanding1 920,284,334 923,418,150 920,385,075 921,934,109 924,925,293 926,305,139 931,032,030 932,846,602 934,349,073 935,382,710 938,171,603 940,899,146 941,851,250 942,917,366 943,702,120 945,319,404 948,820,710 950,335,762 948,379,502 948,573,372 947,414,929 947,680,609 950,343,113
Selected Financial Data (US$)
Shareholders’ equity attributable to UnitedHealth Group (in millions) 94,535 89,359 86,688 88,756 84,494 82,353 81,312 77,772 74,646 72,820 72,766 71,760 70,278 69,014 66,404 65,491 65,231 63,624 56,977 57,616 54,996 53,103 51,724
Book value per share (BVPS)2 102.72 96.77 94.19 96.27 91.35 88.90 87.34 83.37 79.89 77.85 77.56 76.27 74.62 73.19 70.37 69.28 68.75 66.95 60.08 60.74 58.05 56.03 54.43
Share price1, 3 557.77 558.76 507.03 498.28 533.46 504.80 489.44 484.33 543.43 540.65 507.62 478.23 457.33 421.90 412.50 334.65 312.10 303.61 288.77 298.78 250.52 246.45 238.05
Valuation Ratio
P/BV ratio4 5.43 5.77 5.38 5.18 5.84 5.68 5.60 5.81 6.80 6.94 6.54 6.27 6.13 5.76 5.86 4.83 4.54 4.53 4.81 4.92 4.32 4.40 4.37
Benchmarks
P/BV Ratio, Competitors5
Abbott Laboratories 4.94 4.69 4.75 5.12 4.40 5.02 5.21 5.06 4.85 5.21 5.56 5.75 6.61 6.38 6.27 6.65 6.30 5.94 5.40 4.96 4.65 4.86 4.49
Cigna Group 2.08 2.25 2.38 2.13 2.04 1.87 1.73 1.95 2.20 1.86 1.84 1.53 1.49 1.44 1.86 1.46 1.61 1.34 1.51 1.49 1.49 1.44 1.42
CVS Health Corp. 1.03 0.95 0.96 1.25 1.19 1.35 1.26 1.61 1.80 1.77 1.79 1.83 1.71 1.47 1.51 1.33 1.24 1.24 1.21 1.47 1.47 1.23 1.25
Elevance Health Inc. 2.35 2.86 3.01 3.02 2.87 2.86 2.90 3.19 3.24 3.08 3.55 3.07 2.88 2.67 2.78 2.19 2.10 2.06 2.23 2.42 2.13 2.40 2.15
Humana Inc. 1.83 2.61 2.36 2.70 3.55 3.56 3.81 4.13 4.36 3.91 3.66 3.34 3.63 3.82 3.99 3.55 3.55 3.71 4.04 4.07 3.48 3.38 3.07
Intuitive Surgical Inc. 11.91 10.99 9.31 10.01 7.49 9.57 9.29 7.78 6.71 6.29 7.48 8.59 10.64 10.35 10.40 9.53 9.35 9.19 7.22 8.13 8.43 8.49 8.68
Medtronic PLC 2.15 2.05 2.12 2.26 2.12 2.03 2.23 2.24 2.75 2.77 3.52 3.26 3.14 3.02 2.84 2.48 2.60 2.94 2.87 2.66 2.48 2.62 2.59

Based on: 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Data adjusted for splits and stock dividends.

2 Q3 2024 Calculation
BVPS = Shareholders’ equity attributable to UnitedHealth Group ÷ No. shares of common stock outstanding
= 94,535,000,000 ÷ 920,284,334 = 102.72

3 Closing price as at the filing date of UnitedHealth Group Inc. Quarterly or Annual Report.

4 Q3 2024 Calculation
P/BV ratio = Share price ÷ BVPS
= 557.77 ÷ 102.72 = 5.43

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/BV ratio The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company required rate of return and its actual rate of return. UnitedHealth Group Inc. P/BV ratio increased from Q1 2024 to Q2 2024 but then slightly decreased from Q2 2024 to Q3 2024 not reaching Q1 2024 level.