PACB
Pacific Biosciences of California, Inc.
PACB offers stronger fundamentals, but that advantage does not outweigh its weaker overall profile.
UNH
UnitedHealth Group Incorporated
UNH has the edge over PACB overall, supported by lower modeled downside and stronger valuation.
PACB Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Weak | |
| Weak | |
| Unavailable |
PACB'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.
PACB PE Valuation
PACB 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.
PACB Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses shrinking | |
| Growth | |
| -- | |
| Limited | |
| High |
Analysts expect PACB's losses to shrink, 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.
PACB Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2024 | -$1.46 | -$0.19 |
| Q2 2024 | -$1.50 | -$0.15 |
| Q1 2024 | -$1.14 | +$0.25 |
| Q4 2023 | -$1.21 | +$0.19 |
| Q3 2023 | -$1.27 | +$0.07 |
| Q2 2023 | -$1.35 | -$0.43 |
| Q1 2023 | -$1.39 | -$0.58 |
| Q4 2022 | -$1.40 | -$0.51 |
UNH has the stronger earnings trend. Trailing diluted EPS is down 127% for PACB versus UNH down 8.5%.
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's earnings per share have fallen from their peak: $17.55 over the past year, against $23.89 in early 2025.
PACB Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $40.6M | +5.5% |
| Q2 2026 | $39M | -1.9% |
| Q1 2026 | $37.2M | +0.1% |
| Q4 2025 | $44.6M | +14% |
| Q3 2025 | $38.4M | -3.8% |
| Q2 2025 | $39.8M | +10% |
| Q1 2025 | $37.2M | -4.3% |
| Q4 2024 | $39.2M | -33% |
PACB's revenue is recovering but still below its 2023 peak: $41M last quarter, up 5.5% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -91% | +9.9 points |
| Q2 2026 | -114% | -1.6 points |
| Q1 2026 | -22% | +1132 points |
| Q4 2025 | -92% | +298 points |
| Q3 2025 | -101% | +59 points |
| Q2 2025 | -113% | +376 points |
| Q1 2025 | -1155% | -945 points |
| Q4 2024 | -390% | -240 points |
PACB's operating margin was −91% last quarter, up 9.9 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 PACB 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 PACB on profitability, with a higher operating margin.
PACB Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$38.6M | -$20M |
| Q2 2026 | -$37.1M | -$7.2M |
| Q1 2026 | -$47.7M | -$2.3M |
| Q4 2025 | -$19.9M | +$12.3M |
| Q3 2025 | -$18.6M | +$26.1M |
| Q2 2025 | -$29.9M | +$25.8M |
| Q1 2025 | -$45.4M | +$34.1M |
| Q4 2024 | -$32.3M | +$27.3M |
PACB has burned cash in almost every quarter: −$143M over the past year, against −$126M 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 PACB on cash generation, producing positive trailing cash flow while its opponent burns cash.
PACB Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.2% | +592K shares |
| 1 year | +3.5% | +10.4M shares |
| 3 years | +22% | +56.2M shares |
| 5 years | +45% | +96.1M shares |
| Available history | +100% | +155M shares |
PACB has 311M diluted shares, up 3.5% 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 PACB 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.
PACB Net Leverage
PACB'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.
PACB Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 53.2 | Neutral |
| Stochastic | 50.9 | Neutral |
PACB's weekly RSI is 53 (neutral) and its Stochastic is 51 (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).
PACB PE vs Healthcare Sector
| Metric | PACB | Sector median | Relative |
|---|---|---|---|
| PE | N/A | 26x | — |
PACB 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.
PACB Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $2.15 | 8.4% below |
| 20 week MA | $1.69 | 17% above |
| 50 week MA | $1.67 | 18% above |
| 100 week MA | $1.57 | 25% above |
| 200 week MA | $4.13 | 52% below |
PACB's trend is mixed: it's above three of its five weekly moving averages, and 52% 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 PACB on trend strength, trading above more of its moving averages.
PACB Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $5.24 | $27.1 | +418% |
| 2021 | $27.1 | $21.4 | -21% |
| 2022 | $21.4 | $8.49 | -60% |
| 2023 | $8.49 | $9.81 | +16% |
| 2024 | $9.81 | $1.86 | -81% |
| 2025 | $1.86 | $1.77 | -4.8% |
| 2026 YTD | $1.77 | $1.97 | +11% |
PACB's yearly returns have swung widely, from +418% in 2020 to −81% in 2024. It's up 11% 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 PACB on returns for 2026, with the stronger performance.