RLAY
Relay Therapeutics, Inc.
There isn't enough reported data to score RLAY yet.
UNH
UnitedHealth Group Incorporated
UNH's fundamentals are mixed: free cash flow grew 31%, but earnings per share fell 8.5%. At 23x earnings, it's trading right at its usual valuation. Analysts expect strong earnings growth, though they disagree widely on how much.
RLAY Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Under pressure | |
| Unavailable | |
| Unavailable |
RLAY's revenue is currently strong, but its profitability is under pressure. There isn't enough data to rate its cash flow and 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.
RLAY PE Valuation
RLAY 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.
RLAY Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses steady | |
| Strong decline | |
| -- | |
| Limited | |
| Moderate |
Analysts expect RLAY's revenue to decline, with its earnings and profitability holding steady.
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.
RLAY Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | -$1.50 | +$0.22 |
| Q2 2026 | -$1.56 | +$0.36 |
| Q1 2026 | -$1.56 | +$0.64 |
| Q4 2025 | -$1.61 | +$0.75 |
| Q3 2025 | -$1.72 | +$0.90 |
| Q2 2025 | -$1.92 | +$0.61 |
| Q1 2025 | -$2.20 | +$0.45 |
| Q4 2024 | -$2.36 | +$0.45 |
RLAY is still losing money, but far less than before: $1.50 per share over the past year, against $3.92 at its worst in early 2022.
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 RLAY on earnings quality, reporting a profit while its opponent remains loss making.
RLAY Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $350K | -48% |
| Q1 2026 | $3M | -61% |
| Q1 2025 | $7.7M | -23% |
| Q1 2024 | $10M | +4328% |
| Q3 2023 | $25.2M | +7226% |
| Q2 2023 | $119K | -67% |
| Q1 2023 | $226K | -46% |
| Q4 2022 | $253K | -99% |
RLAY's revenue is growing: $0 last quarter.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | -25950% | -14599 points |
| Q1 2026 | -2620% | -1515 points |
| Q4 2025 | -866% | N/A |
| Q2 2025 | -11351% | N/A |
| Q1 2025 | -1105% | -202 points |
| Q1 2024 | -903% | +43866 points |
| Q3 2023 | -292% | +24677 points |
| Q2 2023 | -89118% | -67800 points |
RLAY's operating margin was −25950% last quarter, down 24845 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 RLAY 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 RLAY on profitability, with a higher operating margin.
RLAY Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$63.9M | -$1.8M |
| Q4 2025 | -$44.9M | +$13M |
| Q3 2025 | -$62.1M | +$13.2M |
| Q2 2025 | -$55.3M | +$10.6M |
| Q1 2025 | -$73.6M | -$21.5M |
| Q4 2024 | -$57.9M | +$31.4M |
| Q3 2024 | -$75.3M | +$677K |
| Q2 2024 | -$65.8M | +$4.3M |
UNH has the stronger cash trend. Its trailing FCF is up 5.2% versus its history, compared with RLAY at down 7.9%.
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.
RLAY Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +8% | +16.3M shares |
| 1 year | +27% | +46.8M shares |
| 3 years | +79% | +96.9M shares |
| 5 years | +136% | +126M shares |
RLAY has 219M diluted shares, up 27% from a year ago.
| Quarter | Spent |
|---|---|
| Q4 2023 | — |
| Q1 2020 | — |
| Q4 2019 | — |
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 RLAY 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.
RLAY Net Leverage
RLAY'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.
RLAY Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 54.9 | Neutral |
| Stochastic | 43.1 | Neutral |
RLAY's weekly RSI is 55 (neutral) and its Stochastic is 43 (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).
RLAY PE vs Healthcare Sector
RLAY 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.
RLAY Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $18.0 | 0.6% above |
| 20 week MA | $18.7 | 3.4% below |
| 50 week MA | $14.2 | 27% above |
| 100 week MA | $9.17 | 97% above |
| 200 week MA | $9.50 | 90% above |
RLAY's trend is mixed: it's above four of its five weekly moving averages, and 90% above 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 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.
RLAY Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $44.0 | $46.9 | +6.6% |
| 2021 | $46.9 | $33.4 | -29% |
| 2022 | $33.4 | $14.6 | -56% |
| 2023 | $14.6 | $11.0 | -25% |
| 2024 | $11.0 | $4.36 | -60% |
| 2025 | $4.36 | $8.56 | +96% |
| 2026 YTD | $8.56 | $18.1 | +111% |
RLAY has the edge over UNH on returns for 2026, with the stronger performance.
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 finished three years in a row lower, and it's up 22% so far in 2026.