SOLV
Solventum Corporation
SOLV's outlook is improving despite an expensive valuation.
UNH
UnitedHealth Group Incorporated
UNH has the edge over SOLV overall, supported by lower modeled downside and stronger modeled upside.
SOLV Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Stable | |
| Under pressure | |
| Weak |
SOLV's revenue and profitability are currently stable, but its cash flow and balance sheet are under pressure.
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.
SOLV PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 9.1x | $8.21 | -91% |
| Fair | 11x | $10.05 | -89% |
| Forward | 12x | $88.81 | — |
| Expensive | 33x | $29.75 | -67% |
| Current | 99x | $88.81 | — |
Historical ranges are pointers, not guarantees.
SOLV's PE is in its expensive range at 99x. If earnings grow as analysts expect, today's price would be 12x next year's earnings, in its fair 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 SOLV in the historical PE scenario, which offers more potential upside but is not a forecast.
SOLV Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Growth | |
| Strongly improving | |
| Limited | |
| Moderate |
SOLV 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.
SOLV Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $7.42 | +725% |
| Q3 2026 | $0.90 | -90% |
| Q2 2026 | $8.19 | +277% |
| Q1 2026 | $8.17 | +276% |
| Q4 2025 | $8.88 | +222% |
| Q3 2025 | $8.69 | +109% |
| Q2 2025 | $2.17 | -65% |
| Q1 2025 | $2.17 | -71% |
| Q4 2024 | $2.76 | -65% |
SOLV 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.
SOLV Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $1.9B | -7% |
| Q2 2026 | $2.2B | +2.2% |
| Q1 2026 | $2B | -3% |
| Q4 2025 | $2B | -3.7% |
| Q3 2025 | $2.1B | +0.7% |
| Q2 2025 | $2.2B | +3.8% |
| Q1 2025 | $2.1B | +2.7% |
| Q4 2024 | $2.1B | +1.9% |
SOLV's revenue has held roughly level: $1.9B last quarter, down 7% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 3.5% | -77 points |
| Q2 2026 | 8.2% | -1.7 points |
| Q1 2026 | 4% | -3.3 points |
| Q4 2025 | 6.2% | -0.3 points |
| Q3 2025 | 81% | +67 points |
| Q2 2025 | 9.9% | -1.8 points |
| Q1 2025 | 7.3% | -12 points |
| Q4 2024 | 6.5% | -13 points |
SOLV's operating margin was 3.5% last quarter, down 77 points from the same quarter a year ago, near the bottom of its range since 2022.
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 SOLV 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 SOLV on profitability, with a higher operating margin.
SOLV Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $97M | +$118M |
| Q2 2026 | $144M | +144% |
| Q1 2026 | -$273M | -$193M |
| Q4 2025 | $32M | -65% |
| Q3 2025 | -$21M | -128% |
| Q2 2025 | $59M | -80% |
| Q1 2025 | -$80M | -124% |
| Q4 2024 | $92M | -80% |
SOLV's free cash flow was $0 over the past year, against $50M 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 SOLV on cash flow, with more consistent year-over-year improvement.
SOLV Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -1.4% | -2.5M shares |
| 1 year | -2.6% | -4.6M shares |
| 3 years | -1.1% | -1.9M shares |
SOLV has the edge over UNH on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $48M |
| Q2 2026 | $288M |
| Q1 2026 | $67M |
| Q4 2023 | — |
| Q3 2023 | — |
| Q2 2023 | — |
| Q1 2023 | — |
| Q4 2022 | — |
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.
SOLV Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 4.7x | High |
| Q2 2026 | 1.8x | Healthy |
| Q1 2026 | 1.7x | Healthy |
| Q4 2025 | 1.6x | Healthy |
| Q3 2025 | 1.3x | Healthy |
| Q2 2025 | 5.6x | High |
| Q1 2025 | 5.5x | High |
| Q4 2024 | 4.6x | High |
SOLV's net debt is about 4.7 years of its operating earnings (EBITDA), up from 1.3 years a year ago.
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 has the edge over SOLV on leverage, with a lower net debt burden relative to earnings.
SOLV Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 57.0 | Neutral |
| Stochastic | 49.5 | Neutral |
SOLV's weekly RSI is 57 (neutral) and its Stochastic is 50 (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).
SOLV PE vs Healthcare Sector
| Metric | SOLV | Sector median | Relative |
|---|---|---|---|
| PE | 99x | 26x | 282% above |
| PE % | 99 | 47 | 52 pts above |
SOLV is trading at 99x earnings, a 282% premium to the Healthcare sector's median of 26x.
UNH PE vs Healthcare Sector
| Metric | UNH | Sector median | Relative |
|---|---|---|---|
| PE | 23x | 26x | 11% below |
| PE % | 47 | 29 | 18 pts above |
UNH has the edge over SOLV on valuation relative to its sector.
SOLV Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $87.1 | 2% above |
| 20 week MA | $85.8 | 3.5% above |
| 50 week MA | $79.2 | 12% above |
| 100 week MA | $76.0 | 17% above |
SOLV has stronger trend alignment. SOLV is above 4 of 4 weekly averages versus UNH above 4 of 5.
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.
SOLV Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2024 | $69.6 | $66.7 | -4% |
| 2025 | $66.7 | $80.5 | +21% |
| 2026 YTD | $80.5 | $88.8 | +10% |
SOLV has finished lower in one of the last two years. It's up 10% 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 SOLV on returns for 2026, with the stronger performance.