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.
UPB
Upstream Bio, Inc.
There isn't enough reported data to score UPB yet.
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.
UPB Fundamentals
| Metric | Status |
|---|---|
| Under pressure | |
| Weak | |
| Unavailable | |
| Unavailable |
UPB's revenue and profitability are currently under pressure. There isn't enough data to rate its cash flow and balance sheet.
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.
UPB PE Valuation
UPB has no meaningful PE right now: it lost money over the past year.
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.
UPB Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses steady | |
| Strong decline | |
| -- | |
| Limited | |
| Low |
Analysts expect UPB's revenue to decline, with its earnings and profitability holding steady. However, they disagree widely on these estimates.
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 UPB in the latest year-over-year earnings comparison.
UPB Earnings Per Share
UPB lost $3.01 per share over the past year, a bigger loss than the year before.
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's revenue has held roughly level: $113B last quarter, about level with the same quarter a year ago.
| 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 UPB on profitability, with a higher operating margin.
UPB Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $395K | -42% |
| Q2 2026 | $773K | -18% |
| Q1 2026 | $1M | +83% |
| Q4 2025 | $668K | +9% |
| Q3 2025 | $683K | +13% |
| Q2 2025 | $937K | +84% |
| Q1 2025 | $566K | -12% |
| Q4 2024 | $613K | +36% |
UPB's revenue has held roughly level: $395,000 last quarter, down 42% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -10982% | -5443 points |
| Q2 2026 | -5481% | -748 points |
| Q1 2026 | -4218% | +1438 points |
| Q4 2025 | -6911% | -2618 points |
| Q3 2025 | -5539% | -2427 points |
| Q2 2025 | -4733% | -1294 points |
| Q1 2025 | -5656% | -3310 points |
| Q4 2024 | -4293% | -1109 points |
UPB's operating margin was −10982% last quarter, down 5443 points from the same quarter a year ago, near the bottom of its range since 2023.
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.
UPB Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$54.2M | -$31.9M |
| Q1 2026 | -$47.9M | -$6.7M |
| Q4 2025 | -$30.7M | -$10.9M |
| Q1 2025 | -$41.2M | -$23.6M |
| Q4 2024 | -$19.8M | -$3.7M |
UPB has burned cash in almost every quarter: −$155M over the past year, against −$87M 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 the edge over UPB 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.
UPB Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.4% | +215K shares |
| 1 year | +1.6% | +852K shares |
UPB has 55M diluted shares, up 1.6% from a year ago.
| Quarter | Spent |
|---|---|
| Q2 2024 | — |
| Q1 2024 | — |
| Q4 2023 | — |
| Q3 2023 | — |
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.
UPB Net Leverage
UPB's operating earnings (EBITDA) were negative over the past year, so its debt can't be measured against them.
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).
UPB Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 27.1 | Oversold |
| Stochastic | 9.7 | Oversold |
UPB's weekly RSI is 27 (oversold) and its Stochastic is 10 (oversold).
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.
UPB PE vs Healthcare Sector
UPB has no meaningful PE right now: it lost money over the past year.
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 stronger trend alignment. UNH is above 4 of 5 weekly averages versus UPB above 0 of 4.
UPB Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $3.76 | 24% below |
| 20 week MA | $5.50 | 48% below |
| 50 week MA | $11.4 | 75% below |
| 100 week MA | $12.6 | 77% below |
UPB is in a downtrend: it's below all four of its weekly moving averages, and 77% below its 100-week average.
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 UPB on returns for 2026, with the stronger performance.
UPB Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2024 | $22.0 | $19.2 | -13% |
| 2025 | $19.2 | $29.5 | +54% |
| 2026 YTD | $29.5 | $2.86 | -90% |
UPB has finished lower in one of the last two years. It's down 90% so far in 2026.