TECH
Bio-Techne Corporation
TECH has the edge over UNH overall, supported by stronger fundamentals.
UNH
UnitedHealth Group Incorporated
UNH has lower modeled downside risk, despite its lower overall score.
TECH Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Strong | |
| Strong | |
| Strong |
TECH's profitability, cash flow and balance sheet are currently strong, and its revenue is stable.
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.
TECH PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 34x | $72.84 | — |
| Cheap | 46x | $50.62 | -30% |
| Fair | 63x | $69.08 | -5.2% |
| Current | 66x | $72.84 | — |
| Expensive | 104x | $114 | +57% |
Historical ranges are pointers, not guarantees.
TECH has the edge over UNH in the historical PE scenario, which offers more potential upside but is not a forecast.
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.
TECH Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Growth | |
| Growth | |
| Improving | |
| Limited | |
| High |
TECH 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.
TECH Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $2.11 | +92% |
| Q3 2026 | $1.10 | +124% |
| Q2 2026 | $1.16 | +152% |
| Q1 2026 | $0.69 | -17% |
| Q4 2025 | $0.51 | -49% |
| Q3 2025 | $0.49 | -48% |
| Q2 2025 | $0.46 | -56% |
| Q1 2025 | $0.83 | -34% |
| Q4 2024 | $1.00 | -28% |
TECH's earnings per share have fallen from their peak: $1.10 over the past year, against $1.79 in late 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 TECH on earnings, with more consistent year-over-year improvement.
TECH Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $299.7M | +4.6% |
| Q2 2026 | $321.2M | +1.3% |
| Q1 2026 | $311.4M | -1.5% |
| Q4 2025 | $295.9M | -0.4% |
| Q3 2025 | $286.6M | -1% |
| Q2 2025 | $317M | +3.5% |
| Q1 2025 | $316.2M | +4.2% |
| Q4 2024 | $297M | +9% |
TECH's revenue grew through 2023 and has held roughly level since: $300M last quarter, up 4.6% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 12% | -4.4 points |
| Q2 2026 | 23% | +31 points |
| Q1 2026 | 24% | +12 points |
| Q4 2025 | 18% | +2.4 points |
| Q3 2025 | 17% | +2.8 points |
| Q2 2025 | -7.5% | -23 points |
| Q1 2025 | 12% | -9.8 points |
| Q4 2024 | 16% | +2 points |
TECH 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 TECH 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's operating margin was 5.8% last quarter, up 2 points from the same quarter a year ago.
TECH Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $67.2M | +202% |
| Q2 2026 | $86.9M | -6.8% |
| Q1 2026 | $77.6M | +150% |
| Q4 2025 | $76.5M | -1.3% |
| Q3 2025 | $22.2M | -59% |
| Q2 2025 | $93.3M | +62% |
| Q1 2025 | $31M | -52% |
| Q4 2024 | $77.5M | +14% |
TECH's free cash flow has been positive every quarter for six years: $308M over the past year, up 38% from 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 TECH on cash flow, with more consistent year-over-year improvement.
TECH Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.6% | +919K shares |
| 1 year | +1% | +1.6M shares |
| 3 years | -2.5% | -4M shares |
| 5 years | -4.1% | -6.7M shares |
| Available history | -0.2% | -272K shares |
TECH has 158M diluted shares, up 1% from a year ago.
| Quarter | Spent |
|---|---|
| Q2 2026 | $41.7M |
| Q1 2026 | — |
| Q4 2025 | — |
| Q3 2025 | $24,000 |
| Q2 2025 | $100.1M |
| Q1 2025 | $100M |
| Q2 2024 | — |
| Q1 2024 | — |
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 TECH 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.
TECH Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -0.4x | Net Cash |
| Q2 2026 | -0.2x | Net Cash |
| Q1 2026 | -0.0x | Net Cash |
| Q4 2025 | 0.4x | Very low |
| Q3 2025 | 0.7x | Very low |
| Q2 2025 | 0.9x | Very low |
| Q1 2025 | 0.7x | Very low |
| Q4 2024 | 0.4x | Very low |
TECH 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.
TECH Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 65.9 | Neutral |
| Stochastic | 94.2 | Overbought |
TECH's weekly RSI is 66 (neutral) and its Stochastic is 94 (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).
TECH PE vs Healthcare Sector
| Metric | TECH | Sector median | Relative |
|---|---|---|---|
| PE | 66x | 26x | 156% above |
| PE % | 55 | 29 | 26 pts above |
TECH is trading at 66x earnings, a 156% 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 TECH on valuation relative to its sector.
TECH Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $72.6 | 0.3% above |
| 20 week MA | $72.3 | 0.8% above |
| 50 week MA | $63.3 | 15% above |
| 100 week MA | $61.0 | 20% above |
| 200 week MA | $67.7 | 7.5% above |
TECH 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.
TECH Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $54.6 | $80.4 | +47% |
| 2021 | $80.4 | $123.7 | +54% |
| 2022 | $123.7 | $82.7 | -33% |
| 2023 | $82.7 | $77.2 | -6.7% |
| 2024 | $77.2 | $73.0 | -5.4% |
| 2025 | $73.0 | $59.2 | -19% |
| 2026 YTD | $59.2 | $72.8 | +23% |
TECH 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.