NEOG
Neogen Corporation
NEOG offers stronger fundamentals, but that advantage does not outweigh its weaker overall profile.
UNH
UnitedHealth Group Incorporated
UNH has a slight edge over NEOG overall, supported by lower modeled downside and stronger modeled upside.
NEOG Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Stable | |
| Healthy | |
| Weak |
NEOG's cash flow is currently healthy, and its revenue and profitability 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.
NEOG PE Valuation
NEOG 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.
NEOG Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Strong growth | |
| Growth | |
| Strongly improving | |
| Limited | |
| Low |
NEOG 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.
NEOG Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $0.34 | — |
| Q3 2026 | -$0.26 | +$4.54 |
| Q2 2026 | -$0.04 | +$4.99 |
| Q1 2026 | -$2.80 | -$0.57 |
| Q4 2025 | -$2.77 | -$0.58 |
| Q3 2025 | -$4.80 | -$4.69 |
| Q2 2025 | -$5.03 | -$4.99 |
| Q1 2025 | -$2.23 | -22400% |
| Q4 2024 | -$2.19 | -3750% |
NEOG is still losing money, but far less than before: $0.26 per share over the past year, against $5.03 at its worst in mid-2025.
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 NEOG on earnings quality, reporting a profit while its opponent remains loss making.
NEOG Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $222.8M | +6.5% |
| Q2 2026 | $225.3M | -0.1% |
| Q1 2026 | $211.2M | -4.4% |
| Q4 2025 | $224.7M | -2.8% |
| Q3 2025 | $209.2M | -3.6% |
| Q2 2025 | $225.5M | -4.8% |
| Q1 2025 | $221M | -3.4% |
| Q4 2024 | $231.3M | +0.7% |
NEOG's revenue grew through 2023 and has held roughly level since: $223M last quarter, up 6.5% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -0.8% | +6.9 points |
| Q2 2026 | 1.4% | +273 points |
| Q1 2026 | -1.6% | -4 points |
| Q4 2025 | -2.4% | +195 points |
| Q3 2025 | -7.7% | -8.7 points |
| Q2 2025 | -271% | -277 points |
| Q1 2025 | 2.5% | -2.8 points |
| Q4 2024 | -198% | -204 points |
NEOG's operating margin was −0.8% last quarter, up 6.9 points from the same quarter a year ago.
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 NEOG 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 has the edge over NEOG on profitability, with a higher operating margin.
NEOG Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $4.7M | +$17.8M |
| Q2 2026 | $26.2M | +6353% |
| Q1 2026 | $11.1M | +$24.6M |
| Q4 2025 | $7.8M | -66% |
| Q3 2025 | -$13.1M | +$43.2M |
| Q2 2025 | $406K | -84% |
| Q1 2025 | -$13.5M | +$48.8M |
| Q4 2024 | $23.1M | +$31.8M |
NEOG 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.
NEOG Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.3% | +600K shares |
| 1 year | +0.4% | +765K shares |
| 3 years | +0.6% | +1.3M shares |
| 5 years | +102% | +110M shares |
| Available history | +106% | +112M shares |
NEOG has 218M diluted shares, about the same as 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 NEOG 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.
NEOG Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 12.7x | High |
| Q2 2026 | 6.4x | High |
| Q3 2024 | 4.8x | High |
| Q2 2024 | 4.1x | High |
| Q1 2024 | 3.9x | Elevated |
| Q4 2023 | 3.7x | Elevated |
| Q3 2023 | 4.4x | High |
| Q2 2023 | 5.7x | High |
NEOG's net debt is about 13 years of its operating earnings (EBITDA), up from 3.9 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 NEOG on leverage, with a lower net debt burden relative to earnings.
NEOG Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 50.8 | Neutral |
| Stochastic | 25.0 | Neutral |
NEOG's weekly RSI is 51 (neutral) and its Stochastic is 25 (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).
NEOG PE vs Healthcare Sector
| Metric | NEOG | Sector median | Relative |
|---|---|---|---|
| PE | N/A | 26x | — |
NEOG 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.
NEOG Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $12.1 | 7.3% below |
| 20 week MA | $11.5 | 2.9% below |
| 50 week MA | $10.1 | 11% above |
| 100 week MA | $8.62 | 30% above |
| 200 week MA | $12.9 | 13% below |
NEOG's trend is mixed: it's above two of its five weekly moving averages, and 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 NEOG on trend strength, trading above more of its moving averages.
NEOG Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $32.5 | $40.5 | +24% |
| 2021 | $40.5 | $44.4 | +9.7% |
| 2022 | $44.4 | $14.9 | -67% |
| 2023 | $14.9 | $20.1 | +35% |
| 2024 | $20.1 | $12.4 | -38% |
| 2025 | $12.4 | $7.13 | -43% |
| 2026 YTD | $7.13 | $11.2 | +57% |
NEOG 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.