CDNA
CareDx, Inc
CDNA has the edge over UNH overall, supported by stronger fundamentals.
UNH
UnitedHealth Group Incorporated
UNH has lower modeled downside risk, despite its lower overall score.
CDNA Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Strong | |
| Healthy | |
| Strong |
CDNA's revenue, profitability, cash flow and balance sheet are all currently healthy.
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.
CDNA PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 15x | $35.14 | -56% |
| Fair | 18x | $42.70 | -46% |
| Expensive | 24x | $57.27 | -28% |
| Current | 33x | $79.81 | — |
| Forward | 54x | $79.81 | — |
Historical ranges are pointers, not guarantees.
CDNA's PE is in its expensive range at 33x. On analysts' estimates for next year's earnings, today's price would be 54x.
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 has the edge over CDNA in the historical PE scenario, which offers more potential upside but is not a forecast.
CDNA Forward outlook
| Metric | Outlook |
|---|---|
| Strongly deteriorating | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| High |
Analysts expect strong earnings and revenue growth for CDNA, with profitability improving.
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.
CDNA Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $1.48 | -38% |
| Q3 2026 | $2.39 | +117% |
| Q2 2026 | $2.07 | +123% |
| Q1 2026 | -$0.16 | -115% |
| Q4 2025 | -$0.40 | -143% |
| Q3 2025 | $1.10 | +$3.80 |
| Q2 2025 | $0.93 | +$3.92 |
| Q1 2025 | $1.06 | +$4.48 |
| Q4 2024 | $0.93 | +$4.47 |
CDNA 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.
CDNA Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $139.4M | +39% |
| Q2 2026 | $131.9M | +52% |
| Q1 2026 | $117.7M | +39% |
| Q4 2025 | $108.4M | +25% |
| Q3 2025 | $100.1M | +21% |
| Q2 2025 | $86.7M | -6.1% |
| Q1 2025 | $84.7M | +18% |
| Q4 2024 | $86.6M | +32% |
CDNA has the edge over UNH on sales, with stronger typical year-over-year growth.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 5.8% | +6.1 points |
| Q2 2026 | 86% | +99 points |
| Q1 2026 | 1% | +17 points |
| Q4 2025 | -5.6% | -92 points |
| Q3 2025 | -0.3% | +12 points |
| Q2 2025 | -13% | -8.4 points |
| Q1 2025 | -16% | +11 points |
| Q4 2024 | 86% | +273 points |
CDNA's operating margin was 5.8% last quarter, up 6.1 points from the same quarter a year ago.
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's operating margin was 5.8% last quarter, up 2 points from the same quarter a year ago.
CDNA Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $11.1M | -70% |
| Q2 2026 | $28.7M | +191% |
| Q1 2026 | $514K | +$27.1M |
| Q2 2023 | -$499K | +$3.4M |
| Q1 2023 | $671K | +$22.1M |
| Q4 2022 | $7.2M | +72% |
| Q3 2022 | -$7.1M | -$3.8M |
| Q2 2022 | -$3.9M | -156% |
CDNA generated $62M in free cash flow over the past year, about three times what it generated 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 still generates free cash flow, though less than at its 2022 peak: $22.8B over the past year.
CDNA Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +2.9% | +1.6M shares |
| 1 year | +2.3% | +1.2M shares |
| 3 years | +1.5% | +806K shares |
| 5 years | +4.4% | +2.3M shares |
| Available history | +30% | +12.5M shares |
CDNA has 55M diluted shares, up 2.3% from a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q4 2025 | $12.2M |
| Q3 2025 | $25.6M |
| Q2 2025 | $50M |
| Q1 2025 | — |
| Q4 2024 | — |
| Q3 2024 | — |
| Q2 2024 | — |
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 CDNA 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.
CDNA Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -1.9x | Net Cash |
| Q2 2026 | -3.1x | Net Cash |
| Q3 2025 | -1.4x | Net Cash |
| Q2 2025 | -1.3x | Net Cash |
| Q1 2025 | -1.5x | Net Cash |
| Q4 2024 | -2.1x | Net Cash |
CDNA has the edge over UNH on leverage, with a lower net debt burden relative to earnings.
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.
CDNA Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 76.2 | Overbought |
| Stochastic | 81.1 | Overbought |
CDNA's weekly RSI is 76 (overbought) and its Stochastic is 81 (overbought).
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).
CDNA PE vs Healthcare Sector
| Metric | CDNA | Sector median | Relative |
|---|---|---|---|
| PE | 33x | 26x | 29% above |
| PE % | 97 | 29 | 68 pts above |
CDNA is trading at 33x earnings, a 29% premium to the Healthcare sector's median of 26x.
UNH PE vs Healthcare Sector
| Metric | UNH | Sector median | Relative |
|---|---|---|---|
| PE | 23x | 26x | 11% below |
| PE % | 47 | 29 | 18 pts above |
UNH has the edge over CDNA on valuation relative to its sector.
CDNA Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $71.7 | 11% above |
| 20 week MA | $54.9 | 45% above |
| 50 week MA | $34.1 | 134% above |
| 100 week MA | $25.8 | 209% above |
| 200 week MA | $19.7 | 305% above |
CDNA has the edge over UNH on trend strength, trading above more of its moving averages.
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 bounced recently, but its long-term trend is still down: it's above its 8-, 20-, 50- and 100-week averages, but 9.3% below its 200-week average.
CDNA Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $21.5 | $76.2 | +255% |
| 2021 | $76.2 | $44.9 | -41% |
| 2022 | $44.9 | $11.3 | -75% |
| 2023 | $11.3 | $12.0 | +6.6% |
| 2024 | $12.0 | $21.1 | +76% |
| 2025 | $21.1 | $19.5 | -7.6% |
| 2026 YTD | $19.5 | $79.8 | +310% |
CDNA has the edge over UNH on returns for 2026, with the stronger performance.
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 finished three years in a row lower, and it's up 22% so far in 2026.