DOCS
Doximity, Inc.
DOCS trails on the overall score without a compensating advantage in the available component scores.
UNH
UnitedHealth Group Incorporated
UNH has the edge over DOCS overall, supported by lower modeled downside and stronger modeled upside.
DOCS Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Healthy | |
| Unavailable | |
| Strong |
DOCS's profitability and balance sheet are currently healthy, and its revenue is stable. There isn't enough data to rate its cash flow.
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.
DOCS PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 23x | $33.20 | — |
| Cheap | 35x | $24.67 | -26% |
| Current | 47x | $33.20 | — |
| Fair | 49x | $35.12 | +5.8% |
| Expensive | 63x | $45.04 | +36% |
Historical ranges are pointers, not guarantees.
DOCS's PE is in its fair range at 47x. On analysts' estimates for next year's earnings, today's price would be 23x, in its cheap range.
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 DOCS in the historical PE scenario, which offers more potential upside but is not a forecast.
DOCS Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Stable | |
| Growth | |
| Weakening | |
| Moderate | |
| Moderate |
Analysts expect DOCS's revenue to grow, but its profitability to weaken.
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.
DOCS Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $1.44 | +103% |
| Q3 2026 | $0.71 | -44% |
| Q2 2026 | $0.84 | -28% |
| Q1 2026 | $0.98 | -12% |
| Q4 2025 | $1.20 | +20% |
| Q3 2025 | $1.26 | +45% |
| Q2 2025 | $1.17 | +46% |
| Q1 2025 | $1.11 | +54% |
| Q4 2024 | $1.00 | +49% |
DOCS 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.
DOCS Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $174.5M | +3.6% |
| Q2 2026 | $156.6M | +7.3% |
| Q1 2026 | $145.4M | +5.1% |
| Q4 2025 | $185.1M | +9.8% |
| Q3 2025 | $168.5M | +23% |
| Q2 2025 | $145.9M | +15% |
| Q1 2025 | $138.3M | +17% |
| Q4 2024 | $168.6M | +25% |
DOCS has the edge over UNH on sales, with more consistent year-over-year improvement.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 25% | -13 points |
| Q2 2026 | 21% | -16 points |
| Q1 2026 | 17% | -18 points |
| Q4 2025 | 39% | -8.5 points |
| Q3 2025 | 38% | -1.1 points |
| Q2 2025 | 37% | +1 points |
| Q1 2025 | 35% | -0.3 points |
| Q4 2024 | 47% | +4.1 points |
DOCS has the edge over UNH on profitability, with a higher operating margin.
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.
DOCS Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $93.3M | -0.7% |
| Q2 2026 | $41.9M | -32% |
| Q4 2025 | $60.9M | -6.6% |
| Q3 2025 | $93.9M | +37% |
| Q2 2025 | $62.1M | +51% |
| Q1 2025 | $98.5M | +54% |
| Q4 2024 | $65.2M | +30% |
| Q3 2024 | $68.3M | +432% |
DOCS has the stronger cash trend. Its trailing FCF is up 65% versus its history, compared with UNH at up 5.2%.
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.
DOCS Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -1.8% | -3.4M shares |
| 1 year | -6.4% | -12.9M shares |
| 3 years | -10% | -21.2M shares |
| 5 years | -13% | -28.9M shares |
| Available history | +3.4% | +6.1M shares |
DOCS has the edge over UNH on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $54.2M |
| Q2 2026 | $91.6M |
| Q1 2026 | $90.5M |
| Q4 2025 | $196.9M |
| Q3 2025 | $21.9M |
| Q2 2025 | $122.4M |
| Q1 2025 | $26.8M |
| Q4 2024 | $19.3M |
DOCS spent $433M buying back its own shares over the past year, up 128% from the year before.
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 902M diluted shares, down 0.7% from a year ago, with $5B in buybacks over the past year.
| 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.
DOCS Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -1.1x | Net Cash |
| Q2 2026 | -1.3x | Net Cash |
| Q1 2026 | -1.0x | Net Cash |
| Q4 2025 | -0.3x | Net Cash |
| Q3 2025 | -0.7x | Net Cash |
| Q2 2025 | -0.6x | Net Cash |
| Q1 2025 | -0.9x | Net Cash |
| Q4 2024 | -0.7x | Net Cash |
DOCS 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.
DOCS Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 64.2 | Neutral |
| Stochastic | 69.8 | Neutral |
DOCS's weekly RSI is 64 (neutral) and its Stochastic is 70 (neutral).
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).
DOCS PE vs Healthcare Sector
| Metric | DOCS | Sector median | Relative |
|---|---|---|---|
| PE | 47x | 26x | 81% above |
| PE % | 45 | 37 | 8 pts above |
DOCS is trading at 47x earnings, a 81% 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 DOCS on valuation relative to its sector.
DOCS Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $31.0 | 7.3% above |
| 20 week MA | $26.8 | 24% above |
| 50 week MA | $28.1 | 18% above |
| 100 week MA | $44.7 | 26% below |
| 200 week MA | $38.1 | 13% below |
DOCS has bounced recently, but its long-term trend is still down: it's above its 8-, 20- and 50-week averages, but 13% below 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 DOCS on trend strength, trading above more of its moving averages.
DOCS Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2021 | $56.0 | $51.5 | -7.9% |
| 2022 | $51.5 | $34.2 | -34% |
| 2023 | $34.2 | $28.0 | -18% |
| 2024 | $28.0 | $57.8 | +106% |
| 2025 | $57.8 | $43.7 | -24% |
| 2026 YTD | $43.7 | $33.2 | -24% |
DOCS has finished lower in four of the last five years. It's down 24% 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 DOCS on returns for 2026, with the stronger performance.