UNH
UnitedHealth Group Incorporated
UNH has lower modeled downside risk, despite its lower overall score.
XERS
Xeris Biopharma Holdings, Inc.
XERS has the edge over UNH overall, supported by stronger fundamentals.
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.
XERS Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Stable | |
| Strong | |
| Strong |
XERS's revenue, cash flow and balance sheet are currently healthy, and its profitability is stable.
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.
XERS PE Valuation
XERS 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.
XERS Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Low |
XERS has the edge over UNH on the outlook, with more favorable revenue expectations.
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 XERS on earnings quality, reporting a profit while its opponent remains loss making.
XERS Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $0.34 | — |
| Q3 2026 | -$0.04 | +$0.05 |
| Q2 2026 | -$0.10 | +$0.10 |
| Q1 2026 | $0.07 | +$0.36 |
| Q4 2025 | $0.00 | +$0.37 |
| Q3 2025 | -$0.09 | +$0.36 |
| Q2 2025 | -$0.20 | +$0.23 |
| Q1 2025 | -$0.29 | +$0.18 |
| Q4 2024 | -$0.37 | +$0.08 |
XERS is still losing money, but far less than before: $0.04 per share over the past year, against $4.80 at its worst in late 2019.
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's operating margin was 5.8% last quarter, up 2 points from the same quarter a year ago.
XERS Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $107.2M | +44% |
| Q2 2026 | $92.1M | +29% |
| Q1 2026 | $83.1M | +38% |
| Q4 2025 | $85.8M | +43% |
| Q3 2025 | $74.4M | +37% |
| Q2 2025 | $71.5M | +49% |
| Q1 2025 | $60.1M | +48% |
| Q4 2024 | $60.1M | +35% |
XERS has the edge over UNH on sales, with more consistent year-over-year improvement.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 16% | +6.7 points |
| Q2 2026 | 5.6% | -0.6 points |
| Q1 2026 | 9.5% | +15 points |
| Q4 2025 | 20% | +17 points |
| Q3 2025 | 9.1% | +33 points |
| Q2 2025 | 6.3% | +23 points |
| Q1 2025 | -5.1% | +30 points |
| Q4 2024 | 2.8% | +25 points |
XERS has the edge over UNH on profitability, with a higher operating margin.
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.
XERS Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $35.5M | +92% |
| Q2 2026 | $8.3M | +4440% |
| Q1 2026 | $9.9M | +$19.9M |
| Q4 2025 | $20M | +915% |
| Q3 2025 | $18.4M | +$26.7M |
| Q2 2025 | $182K | +$10.5M |
| Q1 2025 | -$10M | +$10.3M |
| Q4 2024 | $2M | -74% |
XERS has the edge over UNH on cash flow, with more consistent year-over-year improvement.
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 XERS 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.
XERS Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +9.9% | +17.1M shares |
| 1 year | +6.9% | +12.3M shares |
| 3 years | +38% | +51.9M shares |
| 5 years | +186% | +124M shares |
| Available history | +603% | +163M shares |
XERS has 190M diluted shares, up 6.9% from a year ago.
| Quarter | Spent |
|---|---|
| Q2 2021 | — |
| Q1 2021 | $365,000 |
| Q4 2020 | — |
| Q3 2020 | — |
| Q2 2020 | — |
| Q1 2020 | $63,000 |
| Q4 2019 | — |
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.
XERS Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 1.2x | Healthy |
| Q2 2026 | 3.5x | Elevated |
| Q1 2026 | 2.9x | Moderate |
| Q4 2025 | 4.2x | High |
| Q3 2025 | 11.5x | High |
XERS has the edge over UNH on leverage, with a lower net debt burden relative to earnings.
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).
XERS Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 85.9 | Overbought |
| Stochastic | 93.8 | Overbought |
XERS's weekly RSI is 86 (overbought) and its Stochastic is 94 (overbought).
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.
XERS PE vs Healthcare Sector
| Metric | XERS | Sector median | Relative |
|---|---|---|---|
| PE | N/A | 26x | — |
XERS 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 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.
XERS Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $11.5 | 45% above |
| 20 week MA | $9.57 | 74% above |
| 50 week MA | $7.79 | 114% above |
| 100 week MA | $6.68 | 149% above |
| 200 week MA | $4.49 | 271% above |
XERS has the edge over UNH on trend strength, trading above more of its moving averages.
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.
XERS Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $7.45 | $5.45 | -27% |
| 2021 | $5.45 | $2.59 | -52% |
| 2022 | $2.59 | $1.26 | -51% |
| 2023 | $1.26 | $2.35 | +87% |
| 2024 | $2.35 | $3.43 | +46% |
| 2025 | $3.43 | $7.37 | +115% |
| 2026 YTD | $7.37 | $16.7 | +126% |
XERS has the edge over UNH on returns for 2026, with the stronger performance.