NVCR
NovoCure Limited
NVCR offers stronger fundamentals, but that advantage does not outweigh its weaker overall profile.
UNH
UnitedHealth Group Incorporated
UNH has the edge over NVCR overall, supported by lower modeled downside and stronger modeled upside.
NVCR Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Under pressure | |
| Under pressure | |
| Strong |
NVCR's revenue and balance sheet are currently healthy, but its profitability and cash flow are under pressure.
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.
NVCR PE Valuation
NVCR 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.
NVCR Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses shrinking | |
| Growth | |
| Strongly improving | |
| Limited | |
| Low |
NVCR 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.
NVCR Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | -$1.06 | +$0.55 |
| Q2 2026 | -$1.30 | +$0.26 |
| Q1 2026 | -$1.53 | -$0.02 |
| Q4 2025 | -$1.22 | +$0.34 |
| Q3 2025 | -$1.61 | -$0.21 |
| Q2 2025 | -$1.56 | +$0.02 |
| Q1 2025 | -$1.51 | +$0.30 |
| Q4 2024 | -$1.56 | +$0.39 |
NVCR is still losing money, but less than at its worst: $1.06 per share over the past year, against $1.95 at its worst in late 2023.
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 NVCR on earnings quality, reporting a profit while its opponent remains loss making.
NVCR Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $193.4M | +16% |
| Q2 2026 | $183.6M | +16% |
| Q1 2026 | $174.1M | +12% |
| Q4 2025 | $174.4M | +8.1% |
| Q3 2025 | $167.2M | +7.8% |
| Q2 2025 | $158.8M | +5.6% |
| Q1 2025 | $155M | +12% |
| Q4 2024 | $161.3M | +21% |
NVCR has the edge over UNH on sales, with more consistent year-over-year improvement.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -3.2% | +18 points |
| Q2 2026 | -5.8% | +19 points |
| Q1 2026 | -39% | -14 points |
| Q4 2025 | -23% | +16 points |
| Q3 2025 | -22% | -0.8 points |
| Q2 2025 | -25% | -2.6 points |
| Q1 2025 | -24% | +5.6 points |
| Q4 2024 | -39% | -0.6 points |
NVCR's operating margin was −3.2% last quarter, up 18 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'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 NVCR on profitability, with a higher operating margin.
NVCR Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $15.7M | +5.5% |
| Q2 2026 | $1.2M | +$22.6M |
| Q1 2026 | -$18.7M | +$27.6M |
| Q4 2025 | -$22.9M | -$10.5M |
| Q3 2025 | $14.9M | +$15.2M |
| Q2 2025 | -$21.4M | -$8.3M |
| Q1 2025 | -$46.3M | -$2.9M |
| Q4 2024 | -$12.4M | +$9M |
NVCR's free cash flow was −$25M over the past year, against −$65M 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 NVCR on cash generation, producing positive trailing cash flow while its opponent burns cash.
NVCR Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.7% | +773K shares |
| 1 year | +4.4% | +4.9M shares |
| 3 years | +9.4% | +10M shares |
| 5 years | +13% | +13.1M shares |
| Available history | +8.2% | +8.9M shares |
NVCR has 117M diluted shares, up 4.4% 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 NVCR 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.
NVCR Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2021 | -105.8x | Net Cash |
| Q2 2021 | 8.7x | High |
| Q1 2021 | 5.7x | High |
| Q4 2020 | 4.9x | High |
| Q3 2020 | -8.5x | Net Cash |
| Q2 2020 | -2.9x | Net Cash |
| Q1 2020 | -3.2x | Net Cash |
| Q4 2019 | -3.7x | Net Cash |
NVCR has more cash than debt.
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.
NVCR Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 37.6 | Neutral |
| Stochastic | 14.2 | Oversold |
NVCR's weekly RSI is 38 (neutral) and its Stochastic is 14 (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).
NVCR PE vs Healthcare Sector
| Metric | NVCR | Sector median | Relative |
|---|---|---|---|
| PE | N/A | 26x | — |
NVCR 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.
NVCR Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $14.0 | 16% below |
| 20 week MA | $15.6 | 25% below |
| 50 week MA | $14.5 | 19% below |
| 100 week MA | $16.0 | 27% below |
| 200 week MA | $23.3 | 50% below |
NVCR is in a downtrend: it's below all five of its weekly moving averages, and 50% 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 NVCR on trend strength, trading above more of its moving averages.
NVCR Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $87.6 | $172.0 | +96% |
| 2021 | $172.0 | $84.0 | -51% |
| 2022 | $84.0 | $73.0 | -13% |
| 2023 | $73.0 | $14.9 | -80% |
| 2024 | $14.9 | $30.7 | +106% |
| 2025 | $30.7 | $13.5 | -56% |
| 2026 YTD | $13.5 | $11.7 | -13% |
NVCR's yearly returns have swung widely, from +106% in 2024 to −80% in 2023. It's down 13% 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 NVCR on returns for 2026, with the stronger performance.