FHTX
Foghorn Therapeutics Inc.
FHTX offers stronger fundamentals, but that advantage does not outweigh its weaker overall profile.
UNH
UnitedHealth Group Incorporated
UNH has the edge over FHTX overall, supported by lower modeled downside and stronger valuation.
FHTX Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Healthy | |
| Weak | |
| Strong |
FHTX's revenue, profitability and balance sheet are currently healthy, but its cash flow is weak.
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.
FHTX PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Current | 34x | $2.05 | — |
| 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.
FHTX 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.
FHTX Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses steady | |
| Strong decline | |
| -- | |
| Limited | |
| Low |
Analysts expect FHTX's revenue to decline, with its earnings and profitability holding steady. However, they disagree widely on these estimates.
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.
FHTX Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | $0.06 | +$1.12 |
| Q2 2026 | -$0.99 | +$0.13 |
| Q1 2026 | -$1.17 | +$0.12 |
| Q4 2025 | -$1.18 | +$0.40 |
| Q3 2025 | -$1.06 | +$0.86 |
| Q2 2025 | -$1.12 | +$0.83 |
| Q1 2025 | -$1.29 | +$0.91 |
| Q4 2024 | -$1.58 | +$0.76 |
FHTX 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.
FHTX Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $83.5M | +925% |
| Q2 2026 | $16.1M | +113% |
| Q1 2026 | $3.3M | -45% |
| Q4 2025 | $9.2M | +224% |
| Q3 2025 | $8.2M | +4.4% |
| Q2 2025 | $7.6M | +9.7% |
| Q1 2025 | $6M | +18% |
| Q4 2024 | $2.9M | -50% |
FHTX's revenue is growing: $84M last quarter, up 925% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 68% | +295 points |
| Q2 2026 | -55% | +224 points |
| Q1 2026 | -660% | -275 points |
| Q4 2025 | -258% | +582 points |
| Q3 2025 | -227% | +79 points |
| Q2 2025 | -279% | +108 points |
| Q1 2025 | -385% | +173 points |
| Q4 2024 | -841% | -399 points |
FHTX 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.
FHTX Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$18.3M | +$610K |
| Q2 2026 | -$17.9M | +$3.1M |
| Q1 2026 | -$25.3M | -$1.3M |
| Q4 2025 | -$22.3M | +$2.7M |
| Q3 2025 | -$18.9M | +$2.5M |
| Q2 2025 | -$21M | +$4.5M |
| Q1 2025 | -$24M | +$5.5M |
| Q4 2024 | -$25M | +$2.6M |
FHTX has burned cash in almost every quarter: −$84M over the past year, against −$89M 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 FHTX on cash generation, producing positive trailing cash flow while its opponent burns cash.
FHTX Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +2.8% | +2M shares |
| 1 year | +15% | +9.6M shares |
| 3 years | +73% | +30.6M shares |
| 5 years | +96% | +35.6M shares |
| Available history | +228% | +50.5M shares |
FHTX has 73M diluted shares, up 15% from a year ago.
| Quarter | Spent |
|---|---|
| Q2 2020 | — |
| Q1 2020 | — |
| Q4 2019 | — |
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 FHTX 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.
FHTX Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -21.0x | Net Cash |
FHTX 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.
FHTX Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 35.3 | Neutral |
| Stochastic | 3.6 | Oversold |
FHTX's weekly RSI is 35 (neutral) and its Stochastic is 4 (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).
FHTX 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.
FHTX Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $2.17 | 5.5% below |
| 20 week MA | $4.10 | 50% below |
| 50 week MA | $4.60 | 55% below |
| 100 week MA | $4.62 | 56% below |
| 200 week MA | $5.55 | 63% below |
FHTX is in a downtrend: it's below all five of its weekly moving averages, and 63% 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 FHTX on trend strength, trading above more of its moving averages.
FHTX Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $18.1 | $24.6 | +36% |
| 2021 | $24.6 | $21.2 | -14% |
| 2022 | $21.2 | $5.70 | -73% |
| 2023 | $5.70 | $6.45 | +13% |
| 2024 | $6.45 | $4.82 | -25% |
| 2025 | $4.82 | $5.40 | +12% |
| 2026 YTD | $5.40 | $2.05 | -62% |
FHTX has finished lower in three of the last six years. It's down 62% 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 FHTX on returns for 2026, with the stronger performance.