Company Valuation: UnitedHealth Group Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Capitalization 1 4,72,941 4,95,373 4,86,945 4,65,535 2,99,026 2,76,233 - -
Change - 4.74% -1.7% -4.4% -35.77% -7.62% - -
Enterprise Value (EV) 1 4,95,037 5,14,300 5,19,854 5,13,326 3,49,294 3,22,002 3,19,574 3,16,920
Change - 3.89% 1.08% -1.26% -31.95% -7.81% -0.75% -0.83%
P/E ratio 27.8x 25x 22.1x 32.6x 25x 18.1x 16.2x 13.6x
PBR 6.28x 6.18x 5.48x 5x - 2.59x 2.43x 2.25x
PEG - 1.5x 1.7x -0.9x -1.7x 0.7x 1.4x 0.7x
Capitalization / Revenue 1.64x 1.53x 1.31x 1.16x 0.67x 0.63x 0.6x 0.57x
EV / Revenue 1.72x 1.59x 1.4x 1.28x 0.78x 0.73x 0.7x 0.65x
EV / EBITDA 18.3x 16.2x 14.3x 14.1x 15x 11.6x 10.6x 9.05x
EV / EBIT 20.7x 18.1x 16.1x 15.9x 18.4x 13.6x 12.4x 10.5x
EV / FCF 24.9x 22x 20.2x 24.8x 21.7x 19x 19.6x 16.6x
FCF Yield 4.02% 4.55% 4.94% 4.03% 4.6% 5.27% 5.09% 6.02%
Dividend per Share 2 5.6 6.4 7.29 8.18 - 8.802 9.276 9.895
Rate of return 1.12% 1.21% 1.38% 1.62% - 2.89% 3.05% 3.25%
EPS 2 18.08 21.18 23.86 15.51 13.23 16.79 18.73 22.32
Distribution rate 31% 30.2% 30.6% 52.7% - 52.4% 49.5% 44.3%
Net sales 1 2,87,597 3,24,162 3,71,622 4,00,278 4,47,567 4,41,685 4,57,120 4,84,221
EBITDA 1 27,073 31,835 36,330 36,386 23,325 27,750 30,173 35,000
EBIT 1 23,970 28,435 32,358 32,287 18,964 23,692 25,698 30,133
Net income 1 17,285 20,120 22,381 14,405 12,056 15,199 17,208 20,187
Net Debt 1 22,096 18,927 32,909 47,791 50,268 45,769 43,341 40,687
Reference price 2 502.14 530.18 526.47 505.86 330.11 304.33 304.33 304.33
Nbr of stocks (in thousands) 9,41,851 9,34,349 9,24,925 9,20,284 9,05,839 9,07,676 - -
Announcement Date 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 (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
18.12x0.73x11.6x2.89% 28TCr
11.18x0.32x7.03x2.29% 7.15TCr
13x0.46x9.03x2.27% 6.84TCr
21.73x0.21x12.33x2.03% 2.31TCr
19.31x0.09x9.09x-.--% 1.83TCr
44.71x0.16x10.21x-.--% 759.9Cr
156.36x0.74x25.37x-.--% 418.81Cr
13.95x0.81x4.77x-.--% 127.68Cr
-269.55x0.3x15.41x-.--% 101.26Cr
48.18x2.71x14.27x0.58% 29Cr
Average 7.70x 0.65x 11.91x 1.01% 4.72TCr
Weighted average by Cap. 17.59x 0.57x 10.57x 2.47%

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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