NPCE
NeuroPace, Inc.
NPCE offers stronger fundamentals, but that advantage does not outweigh its weaker overall profile.
UNH
UnitedHealth Group Incorporated
UNH has the edge over NPCE overall, supported by stronger modeled upside and lower modeled downside.
NPCE Fundamentals
| Metric | Status |
|---|---|
| Under pressure | |
| Under pressure | |
| Under pressure | |
| Unavailable |
NPCE's revenue, profitability and cash flow are currently 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.
NPCE PE Valuation
NPCE 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.
NPCE Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses shrinking | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| High |
NPCE 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.
NPCE Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | -$0.56 | +$0.18 |
| Q2 2026 | -$0.57 | +$0.25 |
| Q1 2026 | -$0.65 | +$0.17 |
| Q4 2025 | -$0.66 | +$0.27 |
| Q3 2025 | -$0.74 | +$0.25 |
| Q2 2025 | -$0.82 | +$0.26 |
| Q1 2025 | -$0.82 | +$0.36 |
| Q4 2024 | -$0.93 | +$0.34 |
NPCE is still losing money, but far less than before: $0.56 per share over the past year, against $1.91 at its worst in late 2022.
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 NPCE on earnings quality, reporting a profit while its opponent remains loss making.
NPCE Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $23.1M | -16% |
| Q2 2026 | $22.8M | -3% |
| Q1 2026 | $22.1M | -2% |
| Q4 2025 | $26.6M | +24% |
| Q3 2025 | $27.4M | +30% |
| Q2 2025 | $23.5M | +22% |
| Q1 2025 | $22.5M | +24% |
| Q4 2024 | $21.5M | +19% |
NPCE's revenue fell from its 2025 peak and has held roughly level since: $23M last quarter, down 16% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -9% | +0.5 points |
| Q2 2026 | -23% | +6.5 points |
| Q1 2026 | -25% | -2.4 points |
| Q4 2025 | -6.7% | +10 points |
| Q3 2025 | -9.5% | +11 points |
| Q2 2025 | -29% | +3.3 points |
| Q1 2025 | -23% | +19 points |
| Q4 2024 | -17% | +11 points |
NPCE's operating margin was −9% last quarter, up 0.5 points from the same quarter a year ago, near the top of its range since 2020.
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 has the edge over NPCE on profitability, with a higher operating margin.
NPCE Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$2.8M | -$805K |
| Q2 2026 | -$4M | -$1.8M |
| Q1 2026 | -$6M | +$1.5M |
| Q4 2025 | $409K | +$5.2M |
| Q3 2025 | -$2M | -$150K |
| Q2 2025 | -$2.3M | +$1.7M |
| Q1 2025 | -$7.5M | +$113K |
| Q4 2024 | -$4.8M | -$1.5M |
NPCE has burned cash in almost every quarter: −$12M over the past year, against −$17M 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 NPCE on cash generation, producing positive trailing cash flow while its opponent burns cash.
NPCE Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.7% | +242K shares |
| 1 year | +3.7% | +1.2M shares |
| 3 years | +32% | +8.3M shares |
| 5 years | +96% | +16.8M shares |
NPCE has 34M diluted shares, up 3.7% from a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q2 2026 | — |
| Q1 2026 | — |
| Q4 2025 | — |
| Q3 2025 | — |
| Q2 2025 | — |
| Q1 2025 | $49.5M |
| Q4 2020 | — |
NPCE 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 the edge over NPCE 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.
NPCE Net Leverage
NPCE'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.
NPCE Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 39.0 | Neutral |
| Stochastic | 7.3 | Oversold |
NPCE's weekly RSI is 39 (neutral) and its Stochastic is 7 (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).
NPCE PE vs Healthcare Sector
NPCE 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.
NPCE Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $12.7 | 5.2% below |
| 20 week MA | $14.0 | 14% below |
| 50 week MA | $15.0 | 20% below |
| 100 week MA | $13.3 | 9.4% below |
| 200 week MA | $10.6 | 14% above |
NPCE has fallen below most of its moving averages, though it's still 14% 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 NPCE on trend strength, trading above more of its moving averages.
NPCE Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2021 | $25.4 | $9.73 | -62% |
| 2022 | $9.73 | $1.36 | -86% |
| 2023 | $1.36 | $10.3 | +658% |
| 2024 | $10.3 | $10.7 | +3.5% |
| 2025 | $10.7 | $16.0 | +50% |
| 2026 YTD | $16.0 | $12.0 | -25% |
NPCE's yearly returns have swung widely, from +658% in 2023 to −86% in 2022. It's down 25% 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 NPCE on returns for 2026, with the stronger performance.