REGN
Regeneron Pharmaceuticals, Inc.
REGN has the edge over UNH overall, supported by stronger fundamentals and lower modeled downside.
UNH
UnitedHealth Group Incorporated
UNH offers stronger valuation, but that advantage does not outweigh its weaker overall profile.
REGN Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Strong | |
| Healthy | |
| Strong |
REGN's revenue, profitability, cash flow and balance sheet are all currently healthy.
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.
REGN PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 12x | $951 | — |
| Cheap | 13x | $589 | -38% |
| Fair | 18x | $822 | -14% |
| Current | 21x | $951 | — |
| Expensive | 25x | $1,135 | +19% |
Historical ranges are pointers, not guarantees.
REGN's PE is in its expensive range at 21x. If earnings grow as analysts expect, today's price would be 12x next year's earnings, in its cheap range.
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 has the edge over REGN in the historical PE scenario, which offers more potential upside but is not a forecast.
REGN Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Low |
REGN 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.
REGN Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $79.95 | +77% |
| Q3 2026 | $45.21 | +8.1% |
| Q2 2026 | $40.38 | +1.6% |
| Q1 2026 | $40.96 | +4.1% |
| Q4 2025 | $41.48 | +8.2% |
| Q3 2025 | $41.82 | +3.4% |
| Q2 2025 | $39.74 | +5.2% |
| Q1 2025 | $39.34 | +16% |
| Q4 2024 | $38.34 | +10% |
REGN has the edge over UNH on earnings, with more consistent year-over-year improvement.
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.
REGN Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $5.1B | +36% |
| Q2 2026 | $4.3B | +17% |
| Q1 2026 | $3.6B | +19% |
| Q4 2025 | $3.9B | +2.5% |
| Q3 2025 | $3.8B | +0.9% |
| Q2 2025 | $3.7B | +3.6% |
| Q1 2025 | $3B | -3.7% |
| Q4 2024 | $3.8B | +10% |
REGN's revenue has grown year over year for six quarters in a row: $5.1B last quarter, up 36% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 40% | +13 points |
| Q2 2026 | 30% | +0.8 points |
| Q1 2026 | 18% | -1.7 points |
| Q4 2025 | 23% | -3.5 points |
| Q3 2025 | 27% | -4.3 points |
| Q2 2025 | 29% | -0.8 points |
| Q1 2025 | 20% | -4.4 points |
| Q4 2024 | 26% | -2.2 points |
REGN has the edge over UNH on profitability, with a higher operating margin.
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 REGN on sales, with stronger typical year-over-year growth.
| 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's operating margin was 5.8% last quarter, up 2 points from the same quarter a year ago.
REGN Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $1.5B | +4.6% |
| Q2 2026 | $572.8M | -38% |
| Q1 2026 | $848.3M | +4% |
| Q4 2025 | $922M | -13% |
| Q3 2025 | $1.4B | +35% |
| Q2 2025 | $925.4M | +433% |
| Q1 2025 | $815.8M | -41% |
| Q4 2024 | $1.1B | +27% |
REGN still generates free cash flow, though less than at its 2021 peak: $3.8B over the past year.
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 still generates free cash flow, though less than at its 2022 peak: $22.8B over the past year.
REGN Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.4% | -400K shares |
| 1 year | -1.5% | -1.6M shares |
| 3 years | -6.9% | -7.8M shares |
| 5 years | -7.3% | -8.3M shares |
| Available history | -7.9% | -9M shares |
REGN has the edge over UNH on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $399.7M |
| Q2 2026 | $1.2B |
| Q1 2026 | $794.3M |
| Q4 2025 | $671.7M |
| Q3 2025 | $664M |
| Q2 2025 | $1.1B |
| Q1 2025 | $1B |
| Q4 2024 | $973M |
REGN spent $3B buying back its own shares over the past year, down 19% from the year before.
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 902M diluted shares, down 0.7% from a year ago, with $5B in buybacks over the past year.
| 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.
REGN Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -0.3x | Net Cash |
| Q2 2026 | -0.1x | Net Cash |
| Q1 2026 | -0.2x | Net Cash |
| Q4 2025 | -0.3x | Net Cash |
| Q3 2025 | -0.1x | Net Cash |
| Q2 2025 | -0.0x | Very low |
| Q1 2025 | -0.3x | Net Cash |
| Q4 2024 | -0.1x | Net Cash |
REGN has the edge over UNH on leverage, with a lower net debt burden relative to earnings.
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.
REGN Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 69.3 | Neutral |
| Stochastic | 83.3 | Overbought |
REGN's weekly RSI is 69 (neutral) and its Stochastic is 83 (overbought).
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).
REGN PE vs Healthcare Sector
| Metric | REGN | Sector median | Relative |
|---|---|---|---|
| PE | 21x | 26x | 19% below |
| PE % | 70 | 29 | 41 pts above |
REGN has the edge over UNH on valuation relative to its sector.
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.
REGN Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $831.1 | 14% above |
| 20 week MA | $783.7 | 21% above |
| 50 week MA | $749.7 | 27% above |
| 100 week MA | $681.9 | 39% above |
| 200 week MA | $782.7 | 22% above |
REGN has the edge over UNH on trend strength, trading above more of its moving averages.
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 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.
REGN Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $373.3 | $488.9 | +31% |
| 2021 | $488.9 | $625.4 | +28% |
| 2022 | $625.4 | $726.7 | +16% |
| 2023 | $726.7 | $878.3 | +21% |
| 2024 | $878.3 | $712.4 | -19% |
| 2025 | $712.4 | $785.0 | +10% |
| 2026 YTD | $785.0 | $951.2 | +21% |
REGN has finished higher in five of the last six years. It's up 21% 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 REGN on returns for 2026, with the stronger performance.