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.
WVE
Wave Life Sciences Ltd.
There isn't enough reported data to score WVE 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.
WVE Fundamentals
| Metric | Status |
|---|---|
| Unavailable | |
| Weak | |
| Unavailable | |
| Unavailable |
WVE's profitability is currently weak. There isn't enough data to rate its revenue, 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.
WVE PE Valuation
WVE 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.
WVE Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses growing | |
| Stable | |
| -- | |
| Limited | |
| Low |
Analysts expect WVE's losses to grow, with revenue 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 WVE on earnings quality, reporting a profit while its opponent remains loss making.
WVE Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | -$1.06 | -$0.40 |
| Q2 2026 | -$1.08 | -$0.27 |
| Q1 2026 | -$1.05 | -$0.30 |
| Q4 2025 | -$1.21 | -$0.51 |
| Q3 2025 | -$0.66 | +$0.44 |
| Q2 2025 | -$0.81 | -$0.25 |
| Q1 2025 | -$0.75 | -$0.24 |
| Q4 2024 | -$0.70 | -$0.16 |
WVE is still losing money, but far less than before: $1.06 per share over the past year, against $5.73 at its worst in early 2020.
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% |
WVE has the stronger quarterly revenue trend. Revenue is down 0.4% for UNH versus up 43% for WVE.
| 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 WVE on profitability, with a higher operating margin.
WVE Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $2.3M | -74% |
| Q1 2026 | $38.2M | +317% |
| Q2 2025 | $8.7M | -56% |
| Q1 2025 | $9.2M | -27% |
| Q2 2024 | $19.7M | -11% |
| Q1 2024 | $12.5M | -3% |
| Q4 2023 | $29.1M | +2245% |
| Q3 2023 | $49.2M | +17168% |
WVE's revenue is recovering but still below its 2023 peak: $13M last quarter, up 43% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -502% | N/A |
| Q2 2026 | -3248% | -2642 points |
| Q1 2026 | -82% | +461 points |
| Q2 2025 | -606% | -429 points |
| Q1 2025 | -543% | -268 points |
| Q2 2024 | -178% | -72 points |
| Q1 2024 | -275% | -41 points |
| Q4 2023 | -64% | +3452 points |
WVE's operating margin was −502% last quarter, up 41 points from the same quarter a year ago.
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 WVE on cash generation, producing positive trailing cash flow while its opponent burns cash.
WVE Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$60.2M | -$15.2M |
| Q2 2026 | -$54.5M | -$8.1M |
| Q1 2026 | -$60M | +$3.2M |
| Q4 2025 | -$33.8M | +$10M |
| Q3 2025 | -$44.9M | +$1.9M |
| Q2 2025 | -$46.3M | -$18.8M |
| Q1 2025 | -$63.2M | -$29.4M |
| Q4 2024 | -$43.7M | -$10.1M |
WVE has burned cash in almost every quarter: −$208M over the past year, against −$198M 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 WVE 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.
WVE Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.1% | +214K shares |
| 1 year | +22% | +36.5M shares |
| 3 years | +91% | +97.2M shares |
| 5 years | +303% | +154M shares |
| Available history | +503% | +170M shares |
WVE has 204M diluted shares, up 22% from 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's net debt is about 1.7 years of its operating earnings (EBITDA), about the same as a year ago.
WVE Net Leverage
WVE'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).
WVE Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 29.2 | Oversold |
| Stochastic | 9.8 | Oversold |
WVE's weekly RSI is 29 (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.
WVE PE vs Healthcare Sector
WVE 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 the edge over WVE on trend strength, trading above more of its moving averages.
WVE Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $3.43 | 8.2% below |
| 20 week MA | $4.64 | 32% below |
| 50 week MA | $8.10 | 61% below |
| 100 week MA | $8.32 | 62% below |
| 200 week MA | $7.13 | 56% below |
WVE is in a downtrend: it's below all five of its weekly moving averages, and 56% below its 200-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 WVE on returns for 2026, with the stronger performance.
WVE Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $15.8 | $8.91 | -44% |
| 2021 | $8.91 | $3.70 | -58% |
| 2022 | $3.70 | $6.51 | +76% |
| 2023 | $6.51 | $5.05 | -22% |
| 2024 | $5.05 | $12.9 | +155% |
| 2025 | $12.9 | $17.8 | +38% |
| 2026 YTD | $17.8 | $3.15 | -82% |
WVE's yearly returns have swung widely, from +155% in 2024 to −58% in 2021. It's down 82% so far in 2026.