Company Valuation: UnitedHealth Group Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025 2026 2027
Capitalization 1 332,732 472,941 495,373 486,945 465,535 261,063 261,063 -
Change - 42.14% 4.74% -1.7% -4.4% -43.92% 0% -
Enterprise Value (EV) 1 359,278 495,037 514,300 519,854 513,326 349,294 306,832 306,615
Change - 37.79% 3.89% 1.08% -1.26% -31.95% -2.8% -0.07%
P/E ratio 21.9x 27.8x 25x 22.1x 32.6x 25x 17.1x 15.6x
PBR 5.1x 6.28x 6.18x 5.48x 5x 2.64x 2.44x 2.3x
PEG - 2.2x 1.5x 1.7x -0.9x -1.7x 1.3x 1.63x
Capitalization / Revenue 1.29x 1.64x 1.53x 1.31x 1.16x 0.67x 0.59x 0.57x
EV / Revenue 1.4x 1.72x 1.59x 1.4x 1.28x 0.78x 0.69x 0.67x
EV / EBITDA 14.2x 18.3x 16.2x 14.3x 14.1x 15x 10.9x 10.3x
EV / EBIT 16x 20.7x 18.1x 16.1x 15.9x 18.4x 13.1x 12x
EV / FCF 17.9x 24.9x 22x 20.2x 24.8x 21.7x 18.1x 18.9x
FCF Yield 5.6% 4.02% 4.55% 4.94% 4.03% 4.6% 5.54% 5.3%
Dividend per Share 2 4.83 5.6 6.4 7.29 8.18 8.611 8.835 9.241
Rate of return 1.38% 1.12% 1.21% 1.38% 1.62% 2.99% 3.07% 3.21%
EPS 2 16.03 18.08 21.18 23.86 15.51 13.23 16.87 18.49
Distribution rate 30.1% 31% 30.2% 30.6% 52.7% 57.7% 52.4% 50%
Net sales 1 257,141 287,597 324,162 371,622 400,278 447,567 443,952 459,300
EBITDA 1 25,296 27,073 31,835 36,330 36,386 23,325 28,054 29,726
EBIT 1 22,405 23,970 28,435 32,358 32,287 18,964 23,442 25,514
Net income 1 15,403 17,285 20,120 22,381 14,405 12,056 15,251 17,027
Net Debt 1 26,546 22,096 18,927 32,909 47,791 50,268 45,770 45,552
Reference price 2 350.68 502.14 530.18 526.47 505.86 288.20 288.20 288.20
Nbr of stocks (in thousands) 948,821 941,851 934,349 924,925 920,284 905,839 905,839 -
Announcement Date 20/01/21 19/01/22 13/01/23 12/01/24 16/01/25 27/01/26 - -
1USD in Million2USD
Estimates

P/E ratio, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
19.36x0.71x12.08x2.98% 262B
12.08x0.38x7.88x2.02% 77.66B
14.45x0.5x9.78x2.05% 76.09B
14.79x0.23x7.36x1.97% 22.31B
-4.08x0.12x23.51x-.--% 20.28B
32.13x0.14x9.24x-.--% 6.99B
-198.42x0.98x40.13x-.--% 4.12B
30.9x1.27x7.39x-.--% 1.75B
-11.8x0.47x45.2x-.--% 1.05B
55.75x3.16x16.64x0.5% 339M
Average -3.48x 0.80x 17.92x 0.95% 47.25B
Weighted average by Cap. 14.44x 0.57x 11.55x 2.41%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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  4. Valuation UnitedHealth Group Inc.