OCUL
Ocular Therapeutix, Inc.
OCUL trails on the overall score without a compensating advantage in the available component scores.
UNH
UnitedHealth Group Incorporated
UNH has the edge over OCUL overall, supported by stronger fundamentals and lower modeled downside.
OCUL Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Weak | |
| Weak | |
| Unavailable |
OCUL's revenue is currently stable, but its profitability and cash flow are weak. 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.
OCUL PE Valuation
OCUL 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.
OCUL Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses growing | |
| Strong growth | |
| -- | |
| Limited | |
| Moderate |
Analysts expect OCUL's losses to grow, with revenue growing.
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.
OCUL Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | -$1.44 | -$0.04 |
| Q2 2026 | -$1.40 | -$0.16 |
| Q1 2026 | -$1.44 | -$0.33 |
| Q4 2025 | -$1.42 | -$0.20 |
| Q3 2025 | -$1.40 | -$0.31 |
| Q2 2025 | -$1.24 | -$0.12 |
| Q1 2025 | -$1.11 | +$0.01 |
| Q4 2024 | -$1.22 | -$0.20 |
OCUL is still losing money, but less than at its worst: $1.44 per share over the past year, against $2.56 at its worst in late 2020.
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 OCUL on earnings quality, reporting a profit while its opponent remains loss making.
OCUL Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $12.9M | -11% |
| Q2 2026 | $13.5M | +0.1% |
| Q1 2026 | $10.8M | +0.8% |
| Q4 2025 | $13.3M | -22% |
| Q3 2025 | $14.5M | -5.7% |
| Q2 2025 | $13.5M | -18% |
| Q1 2025 | $10.7M | -28% |
| Q4 2024 | $17.1M | +15% |
OCUL's revenue has slid since its 2024 peak: $13M last quarter, down 11% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -760% | -288 points |
| Q2 2026 | -609% | -107 points |
| Q1 2026 | -865% | -268 points |
| Q4 2025 | -526% | -230 points |
| Q3 2025 | -472% | -174 points |
| Q2 2025 | -503% | -237 points |
| Q1 2025 | -597% | -384 points |
| Q4 2024 | -296% | -161 points |
OCUL's operating margin was −760% last quarter, down 288 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 OCUL 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 OCUL on profitability, with a higher operating margin.
OCUL Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$68.7M | -$11.9M |
| Q2 2026 | -$70.6M | -$14.2M |
| Q1 2026 | -$70.7M | -$24.1M |
| Q4 2025 | -$57.1M | -$17.5M |
| Q3 2025 | -$56.7M | -$20.1M |
| Q2 2025 | -$56.5M | -$30.9M |
| Q1 2025 | -$46.6M | -$12.5M |
| Q4 2024 | -$39.6M | -$16.7M |
OCUL has burned cash in almost every quarter: −$267M over the past year, against −$199M 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 OCUL on cash generation, producing positive trailing cash flow while its opponent burns cash.
OCUL Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.3% | +563K shares |
| 1 year | +23% | +41.6M shares |
| 3 years | +189% | +147M shares |
| 5 years | +175% | +143M shares |
| Available history | +398% | +180M shares |
OCUL has 226M diluted shares, up 23% 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 OCUL 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.
OCUL Net Leverage
OCUL'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.
OCUL Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 36.5 | Neutral |
| Stochastic | 10.7 | Oversold |
OCUL's weekly RSI is 36 (neutral) and its Stochastic is 11 (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).
OCUL PE vs Healthcare Sector
OCUL 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.
OCUL Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $7.17 | 12% below |
| 20 week MA | $8.73 | 28% below |
| 50 week MA | $9.37 | 33% below |
| 100 week MA | $9.49 | 34% below |
| 200 week MA | $7.82 | 20% below |
OCUL is in a downtrend: it's below all five of its weekly moving averages, and 20% 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 OCUL on trend strength, trading above more of its moving averages.
OCUL Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $4.19 | $22.1 | +427% |
| 2021 | $22.1 | $7.22 | -67% |
| 2022 | $7.22 | $2.67 | -63% |
| 2023 | $2.67 | $4.46 | +67% |
| 2024 | $4.46 | $8.44 | +89% |
| 2025 | $8.44 | $12.6 | +49% |
| 2026 YTD | $12.6 | $6.28 | -50% |
OCUL's yearly returns have swung widely, from +427% in 2020 to −67% in 2021. It's down 50% 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 OCUL on returns for 2026, with the stronger performance.