MDGL
Madrigal Pharmaceuticals, Inc.
MDGL offers stronger fundamentals, but that advantage does not outweigh its weaker overall profile.
UNH
UnitedHealth Group Incorporated
UNH has the edge over MDGL overall, supported by stronger modeled upside and stronger valuation.
MDGL Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Under pressure | |
| Weak | |
| Unavailable |
MDGL's revenue is currently healthy, but its profitability and cash flow are under pressure. 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.
MDGL PE Valuation
MDGL has no meaningful PE right now: it lost money over the past year. If it returns to profit as analysts expect, today's price would be 87x next year's earnings.
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.
MDGL Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Returning to profit | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Low |
MDGL 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.
MDGL Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $4.89 | — |
| Q3 2026 | -$5.96 | +$6.84 |
| Q2 2026 | -$12.87 | -$0.23 |
| Q1 2026 | -$12.78 | +$5.06 |
| Q4 2025 | -$12.85 | +$9.05 |
| Q3 2025 | -$12.80 | +$12.28 |
| Q2 2025 | -$12.64 | +$12.86 |
| Q1 2025 | -$17.84 | +$5.25 |
| Q4 2024 | -$21.90 | -$1.96 |
MDGL is still losing money, but far less than before: $5.96 per share over the past year, against $25.50 at its worst in mid-2024.
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 has the edge over MDGL on earnings quality, reporting a profit while its opponent remains loss making.
MDGL Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $431.3M | +50% |
| Q2 2026 | $364.3M | +71% |
| Q1 2026 | $311.3M | +127% |
| Q4 2025 | $321.1M | +211% |
| Q3 2025 | $287.3M | +362% |
| Q2 2025 | $212.8M | +1354% |
MDGL has the edge over UNH on sales, with more consistent year-over-year improvement.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 13% | +53 points |
| Q2 2026 | -15% | +6.7 points |
| Q1 2026 | -30% | +28 points |
| Q4 2025 | -19% | +46 points |
| Q3 2025 | -40% | +147 points |
| Q2 2025 | -22% | +1088 points |
| Q1 2025 | -58% | N/A |
| Q4 2024 | -65% | N/A |
MDGL 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.
MDGL Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $116.6M | +48% |
| Q2 2026 | $19.1M | +$66.1M |
| Q1 2026 | -$171.3M | -$82.4M |
| Q4 2025 | -$133.1M | -$28.4M |
| Q3 2025 | $79M | +$146.8M |
| Q2 2025 | -$47.1M | +$88M |
| Q1 2025 | -$88.9M | +$60.6M |
| Q4 2024 | -$104.7M | -$23.7M |
MDGL has burned cash in almost every quarter: −$169M over the past year, against −$162M 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 MDGL on cash generation, producing positive trailing cash flow while its opponent burns cash.
MDGL Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +4% | +1.2M shares |
| 1 year | +35% | +7.8M shares |
| 3 years | +64% | +11.8M shares |
| 5 years | +82% | +13.7M shares |
| Available history | +96% | +14.9M shares |
MDGL has 30M diluted shares, up 35% 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 MDGL 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.
MDGL Net Leverage
MDGL's operating earnings (EBITDA) were negative over the past year, so its debt can't be measured against them.
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.
MDGL Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 37.5 | Neutral |
| Stochastic | 21.0 | Neutral |
MDGL's weekly RSI is 38 (neutral) and its Stochastic is 21 (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).
MDGL PE vs Healthcare Sector
MDGL 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.
MDGL Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $453.4 | 6.2% below |
| 20 week MA | $496.6 | 14% below |
| 50 week MA | $503.0 | 15% below |
| 100 week MA | $431.1 | 1.4% below |
| 200 week MA | $334.7 | 27% above |
MDGL has fallen below most of its moving averages, though it's still 27% above 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 MDGL on trend strength, trading above more of its moving averages.
MDGL Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $93.2 | $120.1 | +29% |
| 2021 | $120.1 | $87.3 | -27% |
| 2022 | $87.3 | $273.6 | +213% |
| 2023 | $273.6 | $231.4 | -15% |
| 2024 | $231.4 | $313.1 | +35% |
| 2025 | $313.1 | $598.9 | +91% |
| 2026 YTD | $598.9 | $425.2 | -29% |
MDGL has finished higher in four of the last six years, two of them by more than 50%. It's down 29% 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 MDGL on returns for 2026, with the stronger performance.