ASMB
Assembly Biosciences, Inc.
ASMB offers stronger fundamentals, but that advantage does not outweigh its weaker overall profile.
UNH
UnitedHealth Group Incorporated
UNH has the edge over ASMB overall, supported by lower modeled downside and stronger modeled upside.
ASMB Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Stable | |
| Under pressure | |
| Unavailable |
ASMB's revenue is currently healthy, and its profitability is stable, but its cash flow is under pressure. There isn't enough data to rate its balance sheet.
UNH Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Stable | |
| Healthy | |
| Healthy |
UNH's cash flow and balance sheet are currently healthy, and its revenue and profitability are stable.
ASMB PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 19x | $19.00 | -5.8% |
| Current | 20x | $20.18 | — |
| Fair | 124x | $124 | +513% |
| Expensive | 344x | $344 | +1604% |
Historical ranges are pointers, not guarantees.
ASMB has the edge over UNH in the historical PE scenario, which offers more potential upside but is not a forecast.
UNH PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 18x | $405 | — |
| Cheap | 19x | $325 | -20% |
| Fair | 23x | $410 | +1.2% |
| Current | 23x | $405 | — |
| Expensive | 30x | $526 | +30% |
Historical ranges are pointers, not guarantees.
UNH's PE is in its fair range at 23x. If earnings grow as analysts expect, today's price would be 18x next year's earnings, in its cheap range.
ASMB Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses shrinking | |
| Strong growth | |
| -- | |
| Limited | |
| High |
Analysts expect ASMB's losses to shrink, with revenue growing.
UNH Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Stable | |
| Improving | |
| Moderate | |
| Low |
Analysts expect UNH's earnings to grow and its profitability to improve, with its revenue holding steady. However, they disagree widely on these estimates.
ASMB Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | $1.00 | +$5.76 |
| Q2 2026 | $1.21 | +$6.76 |
| Q1 2026 | $0.08 | +$6.28 |
| Q4 2025 | -$0.55 | +$6.14 |
| Q3 2025 | -$4.76 | +$2.25 |
| Q2 2025 | -$5.55 | +$3.19 |
| Q1 2025 | -$6.20 | +$4.40 |
| Q4 2024 | -$6.69 | +$6.69 |
ASMB has the edge over UNH on earnings, with more consistent year-over-year improvement.
UNH Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $22.65 | +29% |
| Q3 2026 | $17.55 | -8.5% |
| Q2 2026 | $15.58 | -33% |
| Q1 2026 | $13.28 | -44% |
| Q4 2025 | $13.23 | -15% |
| Q3 2025 | $19.17 | +25% |
| Q2 2025 | $23.09 | +53% |
| Q1 2025 | $23.89 | +46% |
| Q4 2024 | $15.51 | -35% |
UNH's earnings per share have fallen from their peak: $17.55 over the past year, against $23.89 in early 2025.
ASMB Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $3M | -73% |
| Q2 2026 | $13.4M | +39% |
| Q1 2026 | $8.2M | -13% |
| Q4 2025 | $42.5M | +477% |
| Q3 2025 | $10.8M | +58% |
| Q2 2025 | $9.6M | +13% |
| Q1 2025 | $9.4M | +63% |
| Q3 2021 | $6.3M | -82% |
ASMB's revenue is growing: $3M last quarter, down 73% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -792% | -691 points |
| Q2 2026 | -47% | +68 points |
| Q1 2026 | -138% | -33 points |
| Q4 2025 | 47% | +203 points |
| Q3 2025 | -101% | +59 points |
| Q2 2025 | -115% | +28 points |
| Q1 2025 | -106% | +80 points |
| Q4 2024 | -157% | N/A |
ASMB's operating margin was −792% last quarter, down 691 points from the same quarter a year ago, near the bottom of its range since 2019.
UNH Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $112.7B | -0.4% |
| Q2 2026 | $112B | +0.4% |
| Q1 2026 | $111.7B | +2% |
| Q4 2025 | $113.2B | +12% |
| Q3 2025 | $113.2B | +12% |
| Q2 2025 | $111.6B | +13% |
| Q1 2025 | $109.6B | +9.8% |
| Q4 2024 | $100.8B | +6.8% |
UNH's revenue has held roughly level: $113B last quarter, about level with the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 5.8% | +2 points |
| Q2 2026 | 7.1% | +2.5 points |
| Q1 2026 | 8.1% | -0.3 points |
| Q4 2025 | 0.3% | -7.4 points |
| Q3 2025 | 3.8% | -4.8 points |
| Q2 2025 | 4.6% | -3.4 points |
| Q1 2025 | 8.3% | +0.4 points |
| Q4 2024 | 7.7% | -0.4 points |
UNH has the edge over ASMB on profitability, with a higher operating margin.
ASMB Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$17.3M | -$2.1M |
| Q2 2026 | -$15.5M | +$1.3M |
| Q1 2026 | -$22.1M | +$1.3M |
| Q4 2025 | $14.2M | +$14.6M |
| Q3 2025 | -$15.2M | +$69K |
| Q2 2025 | -$16.8M | +$358K |
| Q1 2025 | -$23.4M | -$5.1M |
| Q4 2024 | -$407K | -101% |
ASMB has burned cash in almost every quarter: −$41M over the past year, against −$56M the year before.
UNH Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $4.3B | -16% |
| Q2 2026 | $10.3B | +63% |
| Q1 2026 | $8.1B | +79% |
| Q4 2025 | $160M | -89% |
| Q3 2025 | $5.1B | -61% |
| Q2 2025 | $6.3B | +6.9% |
| Q1 2025 | $4.6B | +1037% |
| Q4 2024 | $1.5B | +$7.6B |
UNH has the edge over ASMB on cash generation, producing positive trailing cash flow while its opponent burns cash.
ASMB Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +16% | +2.9M shares |
| 1 year | +184% | +14.1M shares |
| 3 years | +400% | +17.4M shares |
| 5 years | +510% | +18.2M shares |
| Available history | +895% | +19.6M shares |
ASMB has 22M diluted shares, up 184% from a year ago.
UNH Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.4% | -4M shares |
| 1 year | -0.7% | -6M shares |
| 3 years | -3.6% | -34M shares |
| 5 years | -5.5% | -53M shares |
| Available history | -6.6% | -64M shares |
UNH has the edge over ASMB on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $3.4B |
| Q2 2026 | $1.6B |
| Q1 2026 | — |
| Q4 2025 | — |
| Q3 2025 | — |
| Q2 2025 | $2.5B |
| Q1 2025 | $3B |
| Q4 2024 | $5B |
UNH spent $5B buying back its own shares over the past year, down 52% from the year before.
ASMB Net Leverage
UNH Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 1.7x | Healthy |
| Q2 2026 | 1.7x | Healthy |
| Q1 2026 | 2.2x | Moderate |
| Q4 2025 | 2.3x | Moderate |
| Q3 2025 | 1.7x | Healthy |
| Q2 2025 | 1.5x | Healthy |
| Q1 2025 | 1.3x | Healthy |
| Q4 2024 | 1.4x | Healthy |
UNH's net debt is about 1.7 years of its operating earnings (EBITDA), about the same as a year ago.
ASMB Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 37.5 | Neutral |
| Stochastic | 5.7 | Oversold |
ASMB's weekly RSI is 38 (neutral) and its Stochastic is 6 (oversold).
UNH Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 56.4 | Neutral |
| Stochastic | 60.0 | Neutral |
UNH's weekly RSI is 56 (neutral) and its Stochastic is 60 (neutral).
ASMB PE vs Healthcare Sector
| Metric | ASMB | Sector median | Relative |
|---|---|---|---|
| PE | 20x | 26x | 22% below |
| PE % | 26 | 29 | 3 pts below |
ASMB has the edge over UNH on valuation relative to its sector.
UNH PE vs Healthcare Sector
| Metric | UNH | Sector median | Relative |
|---|---|---|---|
| PE | 23x | 26x | 11% below |
| PE % | 47 | 29 | 18 pts above |
UNH is trading at 23x earnings, a 11% discount to the Healthcare sector's median of 26x.
ASMB Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $21.3 | 5.3% below |
| 20 week MA | $26.1 | 23% below |
| 50 week MA | $27.8 | 27% below |
| 100 week MA | $23.4 | 14% below |
| 200 week MA | $18.4 | 9.9% above |
ASMB has fallen below most of its moving averages, though it's still 9.9% above its 200-week average.
UNH Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $394.2 | 2.8% above |
| 20 week MA | $400.5 | 1.2% above |
| 50 week MA | $361.2 | 12% above |
| 100 week MA | $376.0 | 7.8% above |
| 200 week MA | $446.6 | 9.3% below |
UNH has the edge over ASMB on trend strength, trading above more of its moving averages.
ASMB Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $251.3 | $74.4 | -70% |
| 2021 | $74.4 | $27.2 | -63% |
| 2022 | $27.2 | $15.1 | -44% |
| 2023 | $15.1 | $9.84 | -35% |
| 2024 | $9.84 | $15.2 | +54% |
| 2025 | $15.2 | $33.6 | +122% |
| 2026 YTD | $33.6 | $20.2 | -40% |
ASMB's yearly returns have swung widely, from +122% in 2025 to −70% in 2020. It's down 40% so far in 2026.
UNH Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $296.0 | $340.8 | +15% |
| 2021 | $340.8 | $495.4 | +45% |
| 2022 | $495.4 | $531.3 | +7.3% |
| 2023 | $531.3 | $526.5 | -0.9% |
| 2024 | $526.5 | $510.0 | -3.1% |
| 2025 | $510.0 | $331.8 | -35% |
| 2026 YTD | $331.8 | $405.1 | +22% |
UNH has the edge over ASMB on returns for 2026, with the stronger performance.