FENC
Fennec Pharmaceuticals Inc.
FENC 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.
FENC Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Healthy | |
| Healthy | |
| Unavailable |
FENC's revenue, profitability and cash flow are currently healthy. 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.
FENC PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 16x | $10.90 | — |
| Current | 1,090x | $10.90 | — |
| Cheap | N/A | N/A | N/A |
| Fair | N/A | N/A | N/A |
| Expensive | N/A | N/A | N/A |
Historical ranges are pointers, not guarantees.
FENC 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.
FENC Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Low |
FENC has the edge over UNH on the outlook, with more favorable revenue expectations.
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.
FENC Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $0.68 | +6660% |
| Q3 2026 | $0.01 | +$0.25 |
| Q2 2026 | -$0.13 | +$0.30 |
| Q1 2026 | -$0.29 | +$0.23 |
| Q4 2025 | -$0.34 | -$0.27 |
| Q3 2025 | -$0.24 | +$0.83 |
| Q2 2025 | -$0.43 | +$0.50 |
| Q1 2025 | -$0.52 | +$0.42 |
| Q4 2024 | -$0.07 | +$1.51 |
FENC 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.
FENC Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $19.6M | +57% |
| Q2 2026 | $17.9M | +85% |
| Q1 2026 | $15.1M | +73% |
| Q4 2025 | $13.8M | +74% |
| Q3 2025 | $12.5M | +79% |
| Q2 2025 | $9.7M | +33% |
| Q1 2025 | $8.8M | -66% |
| Q4 2024 | $7.9M | -20% |
FENC's revenue is recovering but still below its 2024 peak: $20M last quarter, up 57% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 24% | +25 points |
| Q2 2026 | 9.7% | +38 points |
| Q1 2026 | -0.8% | +8.4 points |
| Q4 2025 | -19% | -6.8 points |
| Q3 2025 | -1.5% | +73 points |
| Q2 2025 | -28% | +41 points |
| Q1 2025 | -9.2% | -63 points |
| Q4 2024 | -12% | +6.5 points |
FENC 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.
FENC Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $6.7M | +348% |
| Q2 2026 | $50K | +$3.7M |
| Q1 2026 | $2.4M | +$6.7M |
| Q4 2025 | -$6M | -$4.5M |
| Q3 2025 | $1.5M | +$3.7M |
| Q2 2025 | -$3.7M | +$4.7M |
| Q1 2025 | -$4.3M | -111% |
| Q4 2024 | -$1.5M | +$3.4M |
FENC has the edge over UNH on cash flow, with more consistent year-over-year improvement.
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.
FENC Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +4.5% | +1.6M shares |
| 1 year | +37% | +10.2M shares |
| 3 years | +43% | +11.5M shares |
| 5 years | +46% | +12.1M shares |
| Available history | +91% | +18.2M shares |
FENC has 38M diluted shares, up 37% 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 FENC 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.
FENC 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.
FENC Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 55.6 | Neutral |
| Stochastic | 26.3 | Neutral |
FENC's weekly RSI is 56 (neutral) and its Stochastic is 26 (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).
FENC PE vs Healthcare 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.
FENC Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $10.3 | 5.6% above |
| 20 week MA | $10.7 | 1.6% above |
| 50 week MA | $9.05 | 20% above |
| 100 week MA | $8.25 | 32% above |
| 200 week MA | $8.06 | 35% above |
FENC 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.
FENC Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $6.23 | $7.16 | +15% |
| 2021 | $7.16 | $4.49 | -37% |
| 2022 | $4.49 | $9.78 | +118% |
| 2023 | $9.78 | $11.2 | +15% |
| 2024 | $11.2 | $6.22 | -45% |
| 2025 | $6.22 | $8.09 | +30% |
| 2026 YTD | $8.09 | $10.9 | +35% |
FENC 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.