OGN

Organon & Co.

44
Fundamentals46/ 100
Valuation25/ 100
Upside potential56/ 100
Risk potential32/ 100

OGN trails on the overall score without a compensating advantage in the available component scores.

UNH

UnitedHealth Group Incorporated

62
Fundamentals51/ 100
Valuation56/ 100
Upside potential71/ 100
Risk potential15/ 100

UNH has the edge over OGN overall, supported by stronger valuation and lower modeled downside.

OGN Fundamentals

MetricStatus
Stable
Stable
Stable
Weak

OGN's revenue, profitability and cash flow are currently stable, but its balance sheet is weak.

UNH Fundamentals

MetricStatus
Stable
Stable
Healthy
Healthy

UNH's cash flow and balance sheet are currently healthy, and its revenue and profitability are stable.

OGN PE Valuation

CHEAPFAIREXPENSIVE4.7x9.4x14x19x
CHEAPFAIREXPENSIVE4.7x9.4x14x19x
LevelPEPriceVs current
Cheap3.7x$2.88-79%
Forward4x$13.90—
Fair5.6x$4.34-69%
Expensive7.6x$5.86-58%
Current18x$13.90—

Historical ranges are pointers, not guarantees.

OGN's PE is in its expensive range at 18x, but its recent earnings include one-off gains. On analysts' estimates for next year's earnings, today's price would be 4.0x, in its cheap range.

UNH PE Valuation

CHEAPFAIREXPENSIVE10x21x31x42x
CHEAPFAIREXPENSIVE10x21x31x42x
LevelPEPriceVs current
Forward18x$405—
Cheap19x$325-20%
Fair23x$410+1.2%
Current23x$405—
Expensive30x$526+30%

Historical ranges are pointers, not guarantees.

UNH has the edge over OGN in the historical PE scenario, which offers more potential upside but is not a forecast.

OGN Forward outlook

MetricOutlook
Strongly improving
Stable
Stable
Improving
Limited
High

Analysts expect OGN's profitability to improve, with its earnings and revenue holding steady.

UNH Forward outlook

MetricOutlook
Strongly improving
Strong growth
Stable
Improving
Moderate
Low

UNH has the edge over OGN on the outlook, with more favorable earnings expectations.

OGN Risk to reward

ScenarioChangePrice
Upside+41%$19.60
Downside-32%$9.46

Calculated from the latest close: $13.90 on Nov 12.

OGN trails UNH on modeled risk to reward, with less potential upside relative to its potential downside.

UNH Risk to reward

ScenarioChangePrice
Upside+36%$550.65
Downside-15%$346.07

Calculated from the latest close: $405.13 on Nov 12.

UNH has a better modeled risk to reward balance than OGN, with more potential upside relative to its potential downside.

OGN Earnings Per Share

Q4 2023: $3.99Q1 2024: $4.08Q2 2024: $3.88Q3 2024: $5.03Q4 2024: $3.33Q1 2025: $2.88Q2 2025: $2.69Q3 2025: $1.92Q4 2025: $0.72Q1 2026: $0.94Q2 2026: $0.78Q3 2026: $0.77Forward: $3.49
Q4 2023: $3.99Q1 2024: $4.08Q2 2024: $3.88Q3 2024: $5.03Q4 2024: $3.33Q1 2025: $2.88Q2 2025: $2.69Q3 2025: $1.92Q4 2025: $0.72Q1 2026: $0.94Q2 2026: $0.78Q3 2026: $0.77Forward: $3.49
QuarterTTM EPSYoY
Forward$3.49+353%
Q3 2026$0.77-60%
Q2 2026$0.78-71%
Q1 2026$0.94-67%
Q4 2025$0.72-78%
Q3 2025$1.92-62%
Q2 2025$2.69-31%
Q1 2025$2.88-29%
Q4 2024$3.33-17%

OGN's earnings per share have fallen from their peak: $0.77 over the past year, against $8.53 in late 2020. Its recent earnings include one-off gains.

UNH Earnings Per Share

Q4 2023: $23.86Q1 2024: $16.38Q2 2024: $15.10Q3 2024: $15.37Q4 2024: $15.51Q1 2025: $23.89Q2 2025: $23.09Q3 2025: $19.17Q4 2025: $13.23Q1 2026: $13.28Q2 2026: $15.58Q3 2026: $17.55Forward: $22.65
Q4 2023: $23.86Q1 2024: $16.38Q2 2024: $15.10Q3 2024: $15.37Q4 2024: $15.51Q1 2025: $23.89Q2 2025: $23.09Q3 2025: $19.17Q4 2025: $13.23Q1 2026: $13.28Q2 2026: $15.58Q3 2026: $17.55Forward: $22.65
QuarterTTM EPSYoY
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 OGN on earnings, with more consistent year-over-year improvement.

OGN Quarterly Revenue

Q4 2023: $1.6BQ1 2024: $1.6BQ2 2024: $1.6BQ3 2024: $1.6BQ4 2024: $1.6BQ1 2025: $1.5BQ2 2025: $1.6BQ3 2025: $1.6BQ4 2025: $1.5BQ1 2026: $1.5BQ2 2026: $1.6BQ3 2026: $1.6B
Q4 2023: $1.6BQ1 2024: $1.6BQ2 2024: $1.6BQ3 2024: $1.6BQ4 2024: $1.6BQ1 2025: $1.5BQ2 2025: $1.6BQ3 2025: $1.6BQ4 2025: $1.5BQ1 2026: $1.5BQ2 2026: $1.6BQ3 2026: $1.6B
QuarterRevenueYoY
Q3 2026$1.6B-1.7%
Q2 2026$1.6B-2.3%
Q1 2026$1.5B-3.5%
Q4 2025$1.5B-5.3%
Q3 2025$1.6B+1.3%
Q2 2025$1.6B-0.8%
Q1 2025$1.5B-6.7%
Q4 2024$1.6B-0.4%

OGN's revenue has held roughly level: $1.6B last quarter, down 1.7% from the same quarter a year ago.

UNH Quarterly Revenue

Q4 2023: $94.4BQ1 2024: $99.8BQ2 2024: $98.9BQ3 2024: $101BQ4 2024: $101BQ1 2025: $110BQ2 2025: $112BQ3 2025: $113BQ4 2025: $113BQ1 2026: $112BQ2 2026: $112BQ3 2026: $113B
Q4 2023: $94.4BQ1 2024: $99.8BQ2 2024: $98.9BQ3 2024: $101BQ4 2024: $101BQ1 2025: $110BQ2 2025: $112BQ3 2025: $113BQ4 2025: $113BQ1 2026: $112BQ2 2026: $112BQ3 2026: $113B
QuarterRevenueYoY
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 OGN on sales, with more consistent year-over-year improvement.

OGN Free Cash Flow

Q4 2023: $318MQ1 2024: $30MQ2 2024: $300MQ3 2024: $99MQ4 2024: $335MQ1 2025: $43MQ2 2025: $181MQ3 2025: $218MQ4 2025: $96MQ1 2026: $188MQ2 2026: $65MQ3 2026: $326M
Q4 2023: $318MQ1 2024: $30MQ2 2024: $300MQ3 2024: $99MQ4 2024: $335MQ1 2025: $43MQ2 2025: $181MQ3 2025: $218MQ4 2025: $96MQ1 2026: $188MQ2 2026: $65MQ3 2026: $326M
QuarterFree cash flowYoY
Q3 2026$326M+50%
Q2 2026$65M-64%
Q1 2026$188M+337%
Q4 2025$96M-71%
Q3 2025$218M+120%
Q2 2025$181M-40%
Q1 2025$43M+43%
Q4 2024$335M+5.3%

OGN still generates free cash flow, though less than at its 2021 peak: $675M over the past year.

UNH Free Cash Flow

Q4 2023: −$6.2BQ1 2024: $401MQ2 2024: $5.9BQ3 2024: $13BQ4 2024: $1.5BQ1 2025: $4.6BQ2 2025: $6.3BQ3 2025: $5.1BQ4 2025: $160MQ1 2026: $8.1BQ2 2026: $10.3BQ3 2026: $4.3B
Q4 2023: −$6.2BQ1 2024: $401MQ2 2024: $5.9BQ3 2024: $13BQ4 2024: $1.5BQ1 2025: $4.6BQ2 2025: $6.3BQ3 2025: $5.1BQ4 2025: $160MQ1 2026: $8.1BQ2 2026: $10.3BQ3 2026: $4.3B
QuarterFree cash flowYoY
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.

OGN Total Shares

Q4 2023: 256MQ1 2024: 258MQ2 2024: 259MQ3 2024: 260MQ4 2024: 259MQ1 2025: 261MQ2 2025: 260MQ3 2025: 261MQ4 2025: 261MQ1 2026: 263MQ2 2026: 270MQ3 2026: 272M
Q4 2023: 256MQ1 2024: 258MQ2 2024: 259MQ3 2024: 260MQ4 2024: 259MQ1 2025: 261MQ2 2025: 260MQ3 2025: 261MQ4 2025: 261MQ1 2026: 263MQ2 2026: 270MQ3 2026: 272M
PeriodChange %Net change
Quarterly+0.7%+1.9M shares
1 year+4.5%+11.7M shares
3 years+6.3%+16M shares
5 years+7.2%+18.2M shares
Available history+7.6%+19.3M shares

OGN has 272M diluted shares, up 4.5% from a year ago.

UNH Total Shares

Q4 2023: 938MQ1 2024: 922MQ2 2024: 928MQ3 2024: 930MQ4 2024: 929MQ1 2025: 918MQ2 2025: 910MQ3 2025: 908MQ4 2025: 911MQ1 2026: 910MQ2 2026: 906MQ3 2026: 902M
Q4 2023: 938MQ1 2024: 922MQ2 2024: 928MQ3 2024: 930MQ4 2024: 929MQ1 2025: 918MQ2 2025: 910MQ3 2025: 908MQ4 2025: 911MQ1 2026: 910MQ2 2026: 906MQ3 2026: 902M
PeriodChange %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 OGN on shareholder dilution, with a more favorable share count trend.

OGN Net Leverage

Q4 2023: 10.2xQ1 2024: 10.2xQ2 2024: 10.2xQ3 2024: 8.8xQ4 2024: 8.7xQ1 2025: 10.4xQ2 2025: 10.3xQ3 2025: 9.6xQ4 2025: 13.9xQ1 2026: 10.7xQ2 2026: 11.4xQ3 2026: 10.8x
Q4 2023: 10.2xQ1 2024: 10.2xQ2 2024: 10.2xQ3 2024: 8.8xQ4 2024: 8.7xQ1 2025: 10.4xQ2 2025: 10.3xQ3 2025: 9.6xQ4 2025: 13.9xQ1 2026: 10.7xQ2 2026: 11.4xQ3 2026: 10.8x
QuarterNet LeverageStatus
Q3 202610.8xHigh
Q2 202611.4xHigh
Q1 202610.7xHigh
Q4 202513.9xHigh
Q3 20259.6xHigh
Q2 202510.3xHigh
Q1 202510.4xHigh
Q4 20248.7xHigh

OGN's net debt is about 11 years of its operating earnings (EBITDA), up from 9.6 years a year ago.

UNH Net Leverage

Q4 2023: 1.0xQ1 2024: 1.3xQ2 2024: 1.4xQ3 2024: 1.3xQ4 2024: 1.4xQ1 2025: 1.3xQ2 2025: 1.5xQ3 2025: 1.7xQ4 2025: 2.3xQ1 2026: 2.2xQ2 2026: 1.7xQ3 2026: 1.7x
Q4 2023: 1.0xQ1 2024: 1.3xQ2 2024: 1.4xQ3 2024: 1.3xQ4 2024: 1.4xQ1 2025: 1.3xQ2 2025: 1.5xQ3 2025: 1.7xQ4 2025: 2.3xQ1 2026: 2.2xQ2 2026: 1.7xQ3 2026: 1.7x
QuarterNet LeverageStatus
Q3 20261.7xHealthy
Q2 20261.7xHealthy
Q1 20262.2xModerate
Q4 20252.3xModerate
Q3 20251.7xHealthy
Q2 20251.5xHealthy
Q1 20251.3xHealthy
Q4 20241.4xHealthy

UNH has the edge over OGN on leverage, with a lower net debt burden relative to earnings.

OGN Weekly Momentum

MetricValueStatus
RSI71.9Overbought
Stochastic99.0Overbought

OGN's weekly RSI is 72 (overbought) and its Stochastic is 99 (overbought).

UNH Weekly Momentum

MetricValueStatus
RSI56.4Neutral
Stochastic60.0Neutral

UNH's weekly RSI is 56 (neutral) and its Stochastic is 60 (neutral).

OGN PE vs Healthcare Sector

MetricOGNSector medianRelative
PE18x26x30% below
PE %1003763 pts above

OGN has the edge over UNH on valuation relative to its sector.

UNH PE vs Healthcare Sector

MetricUNHSector medianRelative
PE23x26x11% below
PE %472918 pts above

UNH is trading at 23x earnings, a 11% discount to the Healthcare sector's median of 26x.

OGN Weekly Moving Averages

Moving averageMA priceRelative
8 week MA$13.80.7% above
20 week MA$13.71.5% above
50 week MA$11.125% above
100 week MA$11.224% above
200 week MA$15.49.4% below

OGN has bounced recently, but its long-term trend is still down: it's above its 8-, 20-, 50- and 100-week averages, but 9.4% below its 200-week average.

UNH Weekly Moving Averages

Moving averageMA priceRelative
8 week MA$394.22.8% above
20 week MA$400.51.2% above
50 week MA$361.212% above
100 week MA$376.07.8% above
200 week MA$446.69.3% below

UNH has bounced recently, but its long-term trend is still down: it's above its 8-, 20-, 50- and 100-week averages, but 9.3% below its 200-week average.

OGN Yearly ROI

YearStart priceEnd priceROI
2021$33.3$30.2-9.1%
2022$30.2$27.9-7.6%
2023$27.9$14.4-48%
2024$14.4$15.1+4.4%
2025$15.1$7.18-52%
2026 YTD$7.18$13.9+94%

OGN has the edge over UNH on returns for 2026, with the stronger performance.

UNH Yearly ROI

YearStart priceEnd priceROI
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.

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