Company Valuation: UnitedHealth Group Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025 2026 2027
Capitalization 1 332,732 472,941 495,373 486,945 465,535 291,300 - -
Change - 42.14% 4.74% -1.7% -4.4% -37.43% - -
Enterprise Value (EV) 1 359,278 495,037 514,300 519,854 513,326 345,904 343,912 344,406
Change - 37.79% 3.89% 1.08% -1.26% -32.62% -0.58% 0.14%
P/E ratio 21.9x 27.8x 25x 22.1x 32.6x 21.5x 19.7x 16.7x
PBR 5.1x 6.28x 6.18x 5.48x 5x 2.92x 2.79x 2.66x
PEG - 2.2x 1.5x 1.7x -0.9x -5.95x 2.13x 0.9x
Capitalization / Revenue 1.29x 1.64x 1.53x 1.31x 1.16x 0.65x 0.64x 0.61x
EV / Revenue 1.4x 1.72x 1.59x 1.4x 1.28x 0.77x 0.75x 0.72x
EV / EBITDA 14.2x 18.3x 16.2x 14.3x 14.1x 13.2x 12.2x 10.9x
EV / EBIT 16x 20.7x 18.1x 16.1x 15.9x 15.8x 14.3x 12.8x
EV / FCF 17.9x 24.9x 22x 20.2x 24.8x 17x 19.3x 16.2x
FCF Yield 5.6% 4.02% 4.55% 4.94% 4.03% 5.89% 5.19% 6.17%
Dividend per Share 2 4.83 5.6 6.4 7.29 8.18 8.606 9.005 9.229
Rate of return 1.38% 1.12% 1.21% 1.38% 1.62% 2.68% 2.8% 2.87%
EPS 2 16.03 18.08 21.18 23.86 15.51 14.95 16.33 19.23
Distribution rate 30.1% 31% 30.2% 30.6% 52.7% 57.6% 55.1% 48%
Net sales 1 257,141 287,597 324,162 371,622 400,278 447,587 457,923 479,408
EBITDA 1 25,296 27,073 31,835 36,330 36,386 26,170 28,226 31,644
EBIT 1 22,405 23,970 28,435 32,358 32,287 21,881 24,064 26,820
Net income 1 15,403 17,285 20,120 22,381 14,405 13,633 14,832 17,418
Net Debt 1 26,546 22,096 18,927 32,909 47,791 54,605 52,612 53,106
Reference price 2 350.68 502.14 530.18 526.47 505.86 321.58 321.58 321.58
Nbr of stocks (in thousands) 948,821 941,851 934,349 924,925 920,284 905,839 - -
Announcement Date 1/20/21 1/19/22 1/13/23 1/12/24 1/16/25 - - -
1USD in Million2USD
Estimates

P/E ratio, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
21.51x0.77x13.22x2.68% 291B
11x0.35x7.12x2.27% 68.96B
12.01x0.46x8.21x2.2% 67.51B
18.94x0.28x8.84x1.54% 28.68B
-4.35x0.1x20.08x-.--% 16.83B
11.13x0.15x5.31x-.--% 7.24B
-151.36x0.77x31.68x-.--% 3.28B
35.61x1.49x8.68x-.--% 2.04B
-15.03x0.62x59.82x-.--% 1.34B
41.56x3.66x18.18x0.44% 409M
Average -1.90x 0.87x 18.12x 0.91% 48.76B
Weighted average by Cap. 16.32x 0.61x 11.76x 2.32%
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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.