GRFS
Grifols, S.A.
GRFS offers stronger fundamentals, but that advantage does not outweigh its weaker overall profile.
UNH
UnitedHealth Group Incorporated
UNH has the edge over GRFS overall, supported by stronger modeled upside and stronger valuation.
GRFS Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Strong | |
| Stable | |
| Weak |
GRFS's profitability is currently strong, and its revenue and cash flow are stable, but its balance sheet 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.
GRFS PE Valuation
GRFS has no meaningful PE right now: it lost money over the past year.
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.
GRFS Forward outlook
There aren't enough analyst estimates for GRFS to show an outlook.
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.
GRFS Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q2 2026 | $0.74 | +54% |
| Q1 2026 | $0.68 | +113% |
| Q4 2025 | $0.65 | +160% |
| Q3 2025 | $0.61 | +165% |
| Q2 2025 | $0.48 | +100% |
| Q1 2025 | $0.32 | +10% |
| Q4 2024 | $0.25 | +8.7% |
| Q3 2024 | $0.23 | +28% |
GRFS 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.
GRFS Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $2.1B | -0.9% |
| Q1 2026 | $1.9B | -3.2% |
| Q4 2025 | $2.2B | -0.6% |
| Q3 2025 | $2.1B | +4% |
| Q2 2025 | $2.1B | +4% |
| Q1 2025 | $2B | +9.8% |
| Q4 2024 | $2.2B | +12% |
| Q3 2024 | $2B | +12% |
GRFS's revenue grew through 2024 and has held roughly level since: $2.1B last quarter, about level with the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | 18% | -0.9 points |
| Q1 2026 | 15% | -0.4 points |
| Q4 2025 | 14% | -5 points |
| Q3 2025 | 21% | +2.9 points |
| Q2 2025 | 18% | +2 points |
| Q1 2025 | 15% | +2.5 points |
| Q4 2024 | 19% | +4.4 points |
| Q3 2024 | 18% | +2 points |
GRFS 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 has the edge over GRFS on sales, with more consistent year-over-year improvement.
| 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.
GRFS Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | $120M | +14% |
| Q1 2026 | $65.5M | -32% |
| Q4 2025 | $329.6M | -28% |
| Q3 2025 | $283.7M | +19% |
| Q2 2025 | $105.6M | -57% |
| Q1 2025 | $95.9M | +$321.4M |
| Q4 2024 | $460.5M | +444% |
| Q3 2024 | $239.2M | +203% |
GRFS generated $799M in free cash flow over the past year, down 11% from 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.
GRFS Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | 0% | -- |
| 1 year | -1.2% | -8M shares |
| 3 years | +0.3% | +2M shares |
| 5 years | +6.8% | +43.2M shares |
| Available history | -0.5% | -3.6M shares |
GRFS has the edge over UNH on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q2 2026 | — |
| Q1 2026 | — |
| Q4 2025 | — |
| Q3 2025 | — |
| Q2 2025 | — |
| Q1 2025 | — |
| Q4 2024 | — |
| Q3 2024 | — |
GRFS hasn't bought back shares in the past year.
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.
GRFS Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2026 | 4.6x | High |
| Q1 2026 | 5.4x | High |
| Q4 2025 | 4.7x | High |
| Q3 2025 | 5.6x | High |
| Q2 2025 | 5.0x | High |
| Q1 2025 | 6.2x | High |
| Q4 2024 | 6.3x | High |
| Q3 2024 | 6.5x | High |
GRFS's net debt is about 4.6 years of its operating earnings (EBITDA), down from 5.0 years a year ago.
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 has the edge over GRFS on leverage, with a lower net debt burden relative to earnings.
GRFS Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 65.4 | Neutral |
| Stochastic | 84.5 | Overbought |
GRFS's weekly RSI is 65 (neutral) and its Stochastic is 85 (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).
GRFS PE vs Healthcare Sector
| Metric | GRFS | Sector median | Relative |
|---|---|---|---|
| PE | N/A | 26x | — |
GRFS has no meaningful PE right now: it lost money over the past year.
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.
GRFS Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $7.83 | 12% above |
| 20 week MA | $7.69 | 14% above |
| 50 week MA | $8.15 | 8% above |
| 100 week MA | $8.36 | 5.3% above |
| 200 week MA | $8.39 | 4.9% above |
GRFS 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.
GRFS Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $23.5 | $18.7 | -21% |
| 2021 | $18.7 | $11.2 | -40% |
| 2022 | $11.2 | $8.12 | -27% |
| 2023 | $8.12 | $11.6 | +42% |
| 2024 | $11.6 | $7.65 | -34% |
| 2025 | $7.65 | $9.10 | +19% |
| 2026 YTD | $9.10 | $8.80 | -3.3% |
GRFS has finished lower in four of the last six years. It's down 3.3% 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 GRFS on returns for 2026, with the stronger performance.