Cash flow UnitedHealth Group Inc.

Equities

UNH

US91324P1021

Managed Healthcare

Market Closed - Nyse Other stock markets 04:00:01 2024-09-16 pm EDT			5-day change	1st Jan Change
589.14 ^USD	-0.52%		-1.30%	+11.90%

Sep. 10	Health Care Up on Defensive Bias -- Health Care Roundup	DJ
Sep. 10	UnitedHealth Group to Exclude AbbVie's Humira From Some US Drug Reimbursement Lists	MT

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Published financial data: UNITEDHEALTH GROUP INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Premiums and Annuity Revenues	190B	201B	226B	257B	291B
Total Interest And Dividend Income	1.89B	1.5B	2.32B	2.03B	3.81B
Gain (Loss) on Sale of Investments, Total (Rev)	-	-	-	-	276M
Non-Insurance Activities Revenues	31.6B	34.14B	34.44B	37.42B	42.58B
Other Revenues, Total	18.97B	20.02B	24.6B	27.55B	34.12B
Total Revenues	242B	257B	288B	324B	372B
Policy Benefits	156B	159B	187B	211B	242B
Depreciation & Amortization - (IS) - (Collected)	2.72B	2.89B	3.1B	3.4B	3.97B
Selling General & Admin Expenses, Total	35.19B	41.7B	42.58B	47.78B	54.63B
Non-Insurance Activities Expenses	28.12B	30.74B	31.03B	33.7B	38.77B
Total Operating Expenses	222B	235B	264B	296B	339B
Operating Income	19.68B	22.4B	23.97B	28.44B	32.36B
Interest Expense, Total	-1.7B	-1.66B	-1.66B	-2.09B	-3.25B
EBT, Excl. Unusual Items	17.98B	20.74B	22.31B	26.34B	29.11B
EBT, Incl. Unusual Items	17.98B	20.74B	22.31B	26.34B	29.11B
Income Tax Expense	3.74B	4.97B	4.58B	5.7B	5.97B
Earnings From Continuing Operations	14.24B	15.77B	17.73B	20.64B	23.14B
Net Income to Company	14.24B	15.77B	17.73B	20.64B	23.14B
Minority Interest	-400M	-366M	-447M	-519M	-763M
Net Income - (IS)	13.84B	15.4B	17.28B	20.12B	22.38B
Net Income to Common Incl Extra Items	13.84B	15.4B	17.28B	20.12B	22.38B
Net Income to Common Excl. Extra Items	13.84B	15.4B	17.28B	20.12B	22.38B
Per Share Items
Net EPS - Basic	14.55	16.23	18.33	21.47	24.12
Basic EPS - Continuing Operations	14.55	16.23	18.33	21.47	24.12
Basic Weighted Average Shares Outstanding	951M	949M	943M	937M	928M
Net EPS - Diluted	14.33	16.03	18.08	21.18	23.86
Diluted EPS - Continuing Operations	14.33	16.03	18.08	21.18	23.86
Diluted Weighted Average Shares Outstanding	966M	961M	956M	950M	938M
Normalized Basic EPS	11.4	13.27	14.31	17.02	18.78
Normalized Diluted EPS	11.22	13.11	14.12	16.78	18.58
Dividend Per Share	4.14	4.83	5.6	6.4	7.29
Payout Ratio	28.41	29.76	30.55	29.78	30.21
American Depositary Receipts Ratio (ADR)	0.01	0.01	0.01	0.01	0.01
Supplemental Items
EBITDA	21.68B	24.48B	26.15B	30.84B	35.13B
EBITA	20.68B	23.5B	25.17B	29.74B	33.96B
EBIT	19.68B	22.4B	23.97B	28.44B	32.36B
EBITDAR	22.68B	25.58B	27.35B	32.14B	36.53B
Total Revenues (As Reported)	242B	257B	288B	324B	372B
Effective Tax Rate - (Ratio)	20.81	23.98	20.52	21.65	20.5
Current Domestic Taxes	2.95B	4.49B	3.93B	5.7B	5.13B
Current Foreign Taxes	564M	491M	516M	680M	1.08B
Total Current Taxes	3.51B	4.98B	4.45B	6.38B	6.21B
Total Deferred Taxes	230M	-8M	130M	-673M	-245M
Normalized Net Income	10.84B	12.6B	13.5B	15.95B	17.43B
Supplemental Operating Expense Items
Net Rental Expense, Total	1B	1.1B	1.2B	1.3B	1.4B
Imputed Operating Lease Interest Expense	336M	330M	340M	401M	581M
Imputed Operating Lease Depreciation	664M	770M	860M	899M	819M
Stock-Based Comp., SG&A Exp. (Total)	-	-	-	925M	1.06B
Stock-Based Comp., Other (Total)	697M	679M	800M	-	-
Total Stock-Based Compensation	697M	679M	800M	925M	1.06B

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Total Other Investments	39.07B	42.5B	43.85B	46.67B	49.91B
Total investments	39.07B	42.5B	43.85B	46.67B	49.91B
Cash And Equivalents	10.98B	16.92B	21.38B	23.36B	25.43B
Reinsurance Recoverable - (IS)	-	-	-	-	-
Other Receivables - (Insurance Template)	21.46B	25.4B	28.08B	30.45B	38.97B
Separate Account Assets	3.08B	4.08B	4.45B	4.09B	3.76B
Gross Property Plant And Equipment	9.06B	8.85B	9.25B	10.42B	10.67B
Accumulated Depreciation	-3.33B	-3.36B	-3.86B	-4.5B	-4.21B
Net Property Plant And Equipment	5.73B	5.48B	5.39B	5.92B	6.46B
Goodwill	65.66B	71.34B	75.8B	93.35B	104B
Other Intangibles, Total	13.32B	14B	13.62B	18.61B	20.19B
Deferred Tax Assets Current	-	-	-	-	-
Other Current Assets, Total	3.85B	4.46B	5.32B	6.62B	6.08B
Other Long-Term Assets, Total	10.73B	13.11B	14.33B	16.63B	19.2B
Total Assets	174B	197B	212B	246B	274B
Liabilities
Accounts Payable, Total	19B	22.5B	24.64B	27.72B	31.96B
Accrued Expenses, Total	-	-	-	-	-
Insurance And Annuity Liabilities	-	-	-	-	-
Unpaid Claims	21.69B	21.87B	24.48B	29.06B	32.4B
Unearned Premiums	2.62B	2.84B	2.57B	3.08B	3.36B
Current Portion of Long-Term Debt	3.47B	3.52B	3.62B	2.31B	3.19B
Current Portion of Leases	804M	865M	870M	997M	1.04B
Short-Term Borrowings	400M	1.3B	-	800M	1.09B
Long-Term Debt	36.81B	38.65B	42.38B	54.51B	58.26B
Long-Term Leases	3.16B	3.58B	3.4B	3.83B	3.86B
Other Current Liabilities - (Brok / FS / Ins. / REIT Template)	13.79B	19.53B	22.1B	25.28B	26.03B
Deferred Tax Liability Non-Current	2.99B	3.37B	3.26B	2.77B	3.02B
Other Non Current Liabilities	6.99B	8.73B	8.38B	9.01B	10.6B
Total Liabilities	112B	127B	136B	159B	175B
Common Stock, Total	9M	10M	10M	9M	9M
Additional Paid In Capital	7M	-	-	-	-
Retained Earnings	61.18B	69.3B	77.13B	86.16B	95.77B
Comprehensive Income and Other	-3.58B	-3.81B	-5.38B	-8.39B	-7.03B
Total Common Equity	57.62B	65.49B	71.76B	77.77B	88.76B
Minority Interest	4.55B	5.05B	4.72B	8.58B	10.16B
Total Equity	62.16B	70.54B	76.48B	86.35B	98.92B
Total Liabilities And Equity	174B	197B	212B	246B	274B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	949M	945M	941M	933M	922M
ECS Total Common Shares Outstanding	948M	946M	941M	934M	924M
Book Value / Share	60.78	69.23	76.26	83.27	96.06
Tangible Book Value	-21.36B	-19.85B	-17.66B	-34.19B	-35.16B
Tangible Book Value Per Share	-22.53	-20.98	-18.76	-36.6	-38.06
Total Debt	44.64B	47.91B	50.28B	62.45B	67.44B
Net Debt	33.65B	30.99B	28.9B	39.09B	42.01B
Debt Equivalent Oper. Leases	8B	8.8B	9.6B	10.4B	11.2B
Minority Interest, Total (Incl. Fin. Div)	4.55B	5.05B	4.72B	8.58B	10.16B
Account Code - Inventory Valuation	3	3	3	3	3
Land - (BS)	589M	533M	502M	697M	712M
Buildings, Total	4.7B	4.76B	4.88B	5.52B	5.57B
Machinery, Total	3.77B	3.55B	3.86B	4.21B	4.38B
Full Time Employees	325K	330K	350K	400K	440K

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	13.84B	15.4B	17.28B	20.12B	22.38B
Depreciation, Depletion & Amortization	999M	977M	980M	1.1B	1.17B
Amortization of Goodwill and Intangible Assets - (CF)	1B	1.1B	1.2B	1.3B	1.6B
Total Depreciation, Depletion & Amortization	2B	2.08B	2.18B	2.4B	2.77B
Amortization of Deferred Charges, Total	721M	814M	923M	1B	1.2B
Stock-Based Compensation (CF)	697M	679M	800M	925M	1.06B
Change in Accounts Receivable	162M	-688M	-1B	-2.52B	-3.11B
Change in Accounts Payable	733M	5.35B	1.16B	1.96B	3.52B
Change in Unearned Revenues	130M	278M	-310M	126M	203M
Change in insurance Reserves / Liabilities	1.22B	152M	2.7B	4.05B	3.48B
Change in Other Net Operating Assets (Collected)	-1.56B	-2.2B	-1.03B	-1.37B	-2.44B
Other Operating Activities	524M	306M	-367M	-485M	13M
Cash from Operations	18.46B	22.17B	22.34B	26.21B	29.07B
Capital Expenditure	-2.07B	-2.05B	-2.45B	-2.8B	-3.39B
Sale of Property, Plant, and Equipment	-	-	-	3.41B	685M
Cash Acquisitions	-8.34B	-7.14B	-4.82B	-21.46B	-10.14B
Investment in Marketable and Equity Securities, Total	-2.5B	-2.84B	-1.84B	-6.84B	-1.78B
Other Investing Activities, Total	219M	-506M	-1.25B	-793M	-960M
Cash from Investing	-12.7B	-12.53B	-10.37B	-28.48B	-15.57B
Short Term Debt Issued, Total	300M	872M	-	732M	11M
Long-Term Debt Issued, Total	5.44B	4.86B	6.93B	14.82B	6.39B
Total Debt Issued	5.74B	5.74B	6.93B	15.55B	6.4B
Short Term Debt Repaid, Total	-	-	-1.3B	-	-
Long-Term Debt Repaid, Total	-1.75B	-3.15B	-3.15B	-3.02B	-2.12B
Total Debt Repaid	-1.75B	-3.15B	-4.45B	-3.02B	-2.12B
Issuance of Common Stock	1.04B	1.44B	1.36B	1.25B	1.35B
Repurchase of Common Stock	-5.5B	-4.25B	-5B	-7B	-8B
Common Dividends Paid	-3.93B	-4.58B	-5.28B	-5.99B	-6.76B
Common & Preferred Stock Dividends Paid	-3.93B	-4.58B	-5.28B	-5.99B	-6.76B
Other Financing Activities, Total	-1.22B	1.22B	-1.01B	3.43B	-2.4B
Cash from Financing	-5.62B	-3.59B	-7.46B	4.23B	-11.53B
Foreign Exchange Rate Adjustments	-20M	-116M	-62M	34M	97M
Net Change in Cash	119M	5.94B	4.45B	1.99B	2.06B
Supplemental Items
Cash Interest Paid	1.63B	1.7B	1.65B	1.94B	3.04B
Cash Income Tax Paid (Refund)	3.54B	4.94B	3.97B	5.22B	6.08B
Net Debt Issued / Repaid	3.99B	2.59B	2.48B	12.54B	4.28B
Levered Free Cash Flow	14.68B	19.16B	18.38B	22.76B	19.82B
Unlevered Free Cash Flow	15.74B	20.2B	19.42B	24.07B	21.85B
Change In Net Working Capital	-2.09B	-4.68B	-2.99B	-4.78B	23M

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	7.55	7.55	7.32	7.76	7.79
Return on Total Capital	12.33	12.66	12.44	13.1	13.03
Return On Equity %	24.05	23.77	24.12	25.35	24.98
Return on Common Equity	25.32	25.02	25.19	26.91	26.88
Margin Analysis
Gross Profit Margin %	23.79	26.06	24.22	24.56	24.48
SG&A Margin	14.53	16.22	14.8	14.74	14.7
EBITDA Margin %	8.95	9.52	9.09	9.51	9.45
EBITA Margin %	8.54	9.14	8.75	9.17	9.14
EBIT Margin %	8.13	8.71	8.33	8.77	8.71
Income From Continuing Operations Margin %	5.88	6.13	6.17	6.37	6.23
Net Income Margin %	5.71	5.99	6.01	6.21	6.02
Net Avail. For Common Margin %	5.71	5.99	6.01	6.21	6.02
Normalized Net Income Margin	4.48	4.9	4.69	4.92	4.69
Levered Free Cash Flow Margin	6.06	7.45	6.39	7.02	5.33
Unlevered Free Cash Flow Margin	6.5	7.85	6.75	7.43	5.88
Asset Turnover
Asset Turnover	1.49	1.39	1.4	1.42	1.43
Fixed Assets Turnover	42.15	45.86	52.9	57.3	60.04
Receivables Turnover (Average Receivables)	19.23	19.21	19.42	18.6	17.31
Inventory Turnover (Average Inventory)	-	-	-	-	89.1
Short Term Liquidity
Current Ratio	0.64	0.69	0.73	0.73	0.75
Quick Ratio	0.58	0.62	0.66	0.65	0.69
Operating Cash Flow to Current Liabilities	0.3	0.31	0.29	0.29	0.29
Days Sales Outstanding (Average Receivables)	18.98	19.06	18.8	19.63	21.08
Days Outstanding Inventory (Average Inventory)	-	-	-	-	4.1
Average Days Payable Outstanding	76.43	81.87	78.29	79.03	78.96
Cash Conversion Cycle (Average Days)	-	-	-	-	-53.78
Long Term Solvency
Total Debt/Equity	71.81	67.93	65.74	72.33	68.17
Total Debt / Total Capital	41.8	40.45	39.66	41.97	40.54
LT Debt/Equity	64.29	59.87	59.87	67.57	62.8
Long-Term Debt / Total Capital	37.42	35.65	36.12	39.21	37.34
Total Liabilities / Total Assets	64.25	64.25	63.96	64.86	63.86
EBIT / Interest Expense	11.55	13.47	14.44	13.59	9.97
EBITDA / Interest Expense	13.31	15.38	16.48	15.36	11.25
(EBITDA - Capex) / Interest Expense	12.1	14.15	15	14.02	10.21
Total Debt / EBITDA	1.97	1.87	1.84	1.94	1.85
Net Debt / EBITDA	1.48	1.21	1.06	1.22	1.15
Total Debt / (EBITDA - Capex)	2.17	2.04	2.02	2.13	2.03
Net Debt / (EBITDA - Capex)	1.63	1.32	1.16	1.33	1.27
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	7.03	6.19