Projected Income Statement: UnitedHealth Group Inc.

Forecast Balance Sheet: UnitedHealth Group Inc.

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 29,693 26,546 22,096 18,927 32,909 47,791 39,652 31,044
Change - -10.6% -16.76% -14.34% 73.87% 45.22% -1.67% -21.71%
Announcement Date 1/15/20 1/20/21 1/19/22 1/13/23 1/12/24 1/16/25 - -
1USD in Million
Estimates

Cash Flow Forecast: UnitedHealth Group Inc.

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
CAPEX 1 2,071 2,051 2,454 2,802 3,386 3,499 4,090 4,325
Change - -0.97% 19.65% 14.18% 20.84% 3.34% 12.17% 5.74%
Free Cash Flow (FCF) 1 16,392 20,123 19,889 23,404 25,682 20,705 32,640 33,188
Change - 22.76% -1.16% 17.67% 9.73% -19.38% 12.16% 1.68%
Announcement Date 1/15/20 1/20/21 1/19/22 1/13/23 1/12/24 1/16/25 - -
1USD in Million
Estimates

Forecast Financial Ratios: UnitedHealth Group Inc.

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026

Profitability

        
EBITDA Margin (%) 9.25% 9.84% 9.41% 9.82% 9.78% 9.09% 9.36% 9.63%
EBIT Margin (%) 8.13% 8.71% 8.33% 8.77% 8.71% 8.07% 8.45% 8.75%
EBT Margin (%) 7.43% 8.07% 7.76% 8.13% 7.83% 5.01% 7.5% 7.86%
Net margin (%) 5.71% 5.99% 6.01% 6.21% 6.02% 3.6% 5.75% 6%
FCF margin (%) 6.77% 7.83% 6.92% 7.22% 6.91% 5.17% 7.22% 6.83%
FCF / Net Income (%) 118.45% 130.64% 115.07% 116.32% 114.75% 143.73% 125.55% 113.94%

Profitability

        
ROA 8.48% 8.3% 8.44% 8.79% 8.62% 8.99% 8.22% 8.43%
ROE 25.7% 24.9% 24.11% 25.71% 26.8% 25.15% 26.32% 26.46%

Financial Health

        
Leverage (Debt/EBITDA) 1.33x 1.05x 0.82x 0.59x 0.91x 1.31x 0.94x 0.66x
Debt / Free cash flow 1.81x 1.32x 1.11x 0.81x 1.28x 2.31x 1.21x 0.94x

Capital Intensity

        
CAPEX / Current Assets (%) 0.86% 0.8% 0.85% 0.86% 0.91% 0.87% 0.9% 0.89%
CAPEX / EBITDA (%) 9.24% 8.11% 9.06% 8.8% 9.32% 9.62% 9.66% 9.25%
CAPEX / FCF (%) 12.63% 10.19% 12.34% 11.97% 13.18% 16.9% 12.53% 13.03%

Items per share

        
Cash flow per share 1 19.11 23.07 23.37 27.59 30.99 26.05 33.64 39.62
Change - 20.74% 1.29% 18.03% 12.34% -15.93% -11.52% 17.77%
Dividend per Share 1 4.14 4.83 5.6 6.4 7.29 7.924 8.811 9.878
Change - 16.67% 15.94% 14.29% 13.91% 8.69% 11.19% 12.12%
Book Value Per Share 1 60.77 68.8 80 85.74 96.06 107.2 117.8 133.1
Change - 13.21% 16.28% 7.17% 12.04% 11.63% 9.84% 12.99%
EPS 1 14.33 16.03 18.08 21.18 23.86 15.51 28.32 32.07
Change - 11.86% 12.79% 17.15% 12.65% -35% 71.94% 13.23%
Nbr of stocks (in thousands) 947,415 948,821 941,851 934,349 924,925 920,284 920,284 920,284
Announcement Date 1/15/20 1/20/21 1/19/22 1/13/23 1/12/24 1/16/25 - -
1USD
Estimates
2024 2025 *
P/E ratio 32.6x 18.5x
PBR 4.88x 4.45x
EV / Sales 1.28x 1.15x
Yield 1.51% 1.68%
More valuation ratios * Estimated data

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Trading Rating
Investor Rating
ESG MSCI
A
More Ratings
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
27
Last Close Price
523.51USD
Average target price
637.24USD
Spread / Average Target
+21.72%
Consensus

Quarterly revenue - Rate of surprise

  1. Stock Market
  2. Equities
  3. UNH Stock
  4. Financials UnitedHealth Group Inc.