UnitedHealth Group Incorporated Financial Ratios — UNH GF

Profitability (USD)

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Return on Common Equity (%)	19.26	18.89	17.65	16.8	16.38	17.97	23.54	22.92	23.65	23.61	23.61	24.64	24.6	15.02	12.58
Return on Assets (%)	7.85	7.43	6.91	6.68	5.88	6	8.06	8.23	8.49	8.3	8.44	8.79	8.62	5.04	3.97
Return on Capital (%)	13.92	13.33	11.98	11.53	10.07	10.37	13.97	13.96	14.54	14.54	14.78	15.16	15.08	9.41	8.12
Return on Invested Capital (%)	13.83	13.24	12.27	11.84	10.71	11.03	15.08	15.38	16.04	15.82	16.25	16.84	16.95	14.47	9.25
Gross Margin (%)	24.69	25.19	24.44	25.3	23.57	23.47	23.37	23.8	23.79	26.06	24.22	24.56	24.48	22.33	18.53
EBITDA Margin (%)	9.41	9.55	8.98	9.01	8.09	8.11	8.68	8.74	9.25	9.84	9.41	9.82	9.78	9.09	5.21
Operating Margin (%)	8.31	8.37	7.86	7.87	7.01	7	7.56	7.67	8.13	8.71	8.33	8.77	8.71	8.07	4.24
Incremental Operating Margin (%)	7.79	9.02	3.11	8.15	2.8	6.88	13.97	8.51	14.72	18.15	5.14	12.21	8.27	-0.25	-28.17
Pretax Margin (%)	7.81	7.79	7.28	7.4	6.51	6.42	6.97	7.05	7.43	8.07	7.76	8.13	7.83	5.01	3.28
Profit Margin (%)	5.05	5	4.59	4.31	3.7	3.8	5.25	5.3	5.71	5.99	6.01	6.21	6.02	3.6	2.69
Net Income to Common Margin (%)	5.05	5	4.59	4.31	3.7	3.8	5.25	5.3	5.71	5.99	6.01	6.21	6.02	3.6	2.69
Effective Tax Rate (%)	35.39	35.91	36.37	41.81	42.64	40.38	22.82	22.34	20.81	23.98	20.52	21.65	20.5	24.06	12.86
Dvd Payout Ratio (%)	12.66	14.84	18.46	24.24	30.15	31.72	25.01	25.98	26.86	28.41	29.04	28.32	28.28	46.85	58.39
Sustainable Growth Rate (%)	16.82	16.09	14.39	12.73	11.44	12.27	17.65	16.96	17.3	16.9	16.75	17.66	17.64	7.98	5.24

Credit (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Total Debt	11,638	16,754	16,860	17,406	31,965	32,970	31,692	36,554	40,678	43,467	46,003	57,623	62,537	76,904	78,389
ST Debt	982	2,713	1,969	1,399	6,634	7,193	2,857	1,973	3,870	4,819	3,620	3,110	4,274	4,545	6,069
LT Debt	10,656	14,041	14,891	16,007	25,331	25,777	28,835	34,581	36,808	38,648	42,383	54,513	58,263	72,359	72,320
Total Debt/EBITDA	1.21	1.59	1.53	1.48	2.51	2.2	1.82	1.85	1.82	1.72	1.7	1.81	1.72	2.11	3.36
Net Debt/EBITDA	0.23	0.79	0.87	0.84	1.66	1.5	1.13	1.3	1.33	1.05	0.91	1.08	1.02	1.42	2.32
Total Debt/EBIT	1.38	1.81	1.75	1.69	2.9	2.55	2.08	2.11	2.07	1.94	1.92	2.03	1.93	2.38	4.13
Net Debt/EBIT	0.26	0.9	1	0.96	1.91	1.74	1.3	1.48	1.51	1.18	1.03	1.2	1.15	1.6	2.85
EBITDA to Interest Expense	18.99	16.71	15.53	19.02	16.09	14.04	14.72	14.12	13.15	15.21	16.31	15.22	11.19	9.32	5.83
EBITDA-CapEx/Interest Expense	16.87	15.02	13.69	16.55	14.12	12.45	13.01	12.65	11.93	13.98	14.83	13.88	10.15	8.42	4.92
EBIT to Interest Expense	16.76	14.64	13.59	16.62	13.95	12.12	12.82	12.39	11.55	13.47	14.44	13.59	9.97	8.27	4.74
Interest Expense	505	632	708	618	790	1,067	1,186	1,400	1,704	1,663	1,660	2,092	3,246	3,906	4,002
Common Equity/Total Assets	40.99	37.92	40.37	39.18	33.38	33.35	35.05	36.69	35.19	35.13	36.35	35.07	34.99	32.2	30.88
Long-Term Debt/Equity (%)	37.66	42.17	44.69	47.3	71.43	64.14	55.43	61.5	59.21	54.79	55.42	63.13	58.9	70.53	71.11
Long-Term Debt/Capital (%)	27	28.34	29.15	30.41	35.81	33.99	34.05	35.67	34.59	32.8	33.15	35.78	34.58	39.57	39.83
Long-Term Debt/Total Assets (%)	15.7	17.36	18.19	18.53	22.77	20.99	20.74	22.72	21.17	19.59	19.97	22.19	21.29	24.26	23.36
Total Debt/Equity (%)	41.14	50.31	50.59	51.43	90.14	82.04	60.92	65.01	65.44	61.62	60.15	66.73	63.22	74.96	77.08
Total Debt/Capital (%)	29.49	33.81	33	33.07	45.19	43.47	37.43	37.71	38.23	36.89	35.98	37.82	37.12	42.05	43.17
Total Debt/Total Assets (%)	17.14	20.71	20.59	20.15	28.73	26.85	22.79	24.01	23.39	22.03	21.68	23.45	22.85	25.78	25.32
Net Debt to Equity	7.81	25.07	28.76	29.29	59.34	56.08	37.89	45.69	47.77	37.63	32.2	39.67	37.52	50.29	53.12
Net Debt/Capital (%)	7.35	20.29	21.87	21.95	35.18	34.46	27.11	29.84	31.12	26.31	23.13	26.56	25.94	32.74	34.36
EBITDA	9,588	10,563	10,998	11,752	12,714	14,985	17,454	19,772	22,405	25,296	27,073	31,835	36,330	36,386	23,325
EBITDA-CapEx	8,521	9,493	9,691	10,227	11,158	13,280	15,431	17,709	20,334	23,245	24,619	29,033	32,944	32,887	19,703
Operating Income (Loss)	8,464	9,254	9,623	10,274	11,021	12,930	15,209	17,344	19,685	22,405	23,970	28,435	32,358	32,287	18,964

Liquidity (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Cash Ratio	0.5	0.42	0.33	0.3	0.3	0.27	0.31	0.27	0.23	0.27	0.31	0.31	0.3	0.28	0.24
Current Ratio	0.85	0.78	0.73	0.77	0.74	0.69	0.73	0.73	0.69	0.74	0.79	0.77	0.79	0.83	0.79
Quick Ratio	0.69	0.63	0.58	0.62	0.61	0.59	0.62	0.48	0.42	0.62	0.66	0.65	0.69	0.75	0.7
CFO/Avg Current Liab	0.29	0.28	0.25	0.28	0.26	0.21	0.27	0.3	0.32	0.33	0.3	0.31	0.31	0.24	0.18
Common Equity/Total Assets	40.99	37.92	40.37	39.18	33.38	33.35	35.05	36.69	35.19	35.13	36.35	35.07	34.99	32.2	30.88
Long-Term Debt/Equity (%)	37.66	42.17	44.69	47.3	71.43	64.14	55.43	61.5	59.21	54.79	55.42	63.13	58.9	70.53	71.11
Long-Term Debt/Capital (%)	27	28.34	29.15	30.41	35.81	33.99	34.05	35.67	34.59	32.8	33.15	35.78	34.58	39.57	39.83
Long-Term Debt/Total Assets (%)	15.7	17.36	18.19	18.53	22.77	20.99	20.74	22.72	21.17	19.59	19.97	22.19	21.29	24.26	23.36
Total Debt/Equity (%)	41.14	50.31	50.59	51.43	90.14	82.04	60.92	65.01	65.44	61.62	60.15	66.73	63.22	74.96	77.08
Total Debt/Capital (%)	29.49	33.81	33	33.07	45.19	43.47	37.43	37.71	38.23	36.89	35.98	37.82	37.12	42.05	43.17
Total Debt/Total Assets (%)	17.14	20.71	20.59	20.15	28.73	26.85	22.79	24.01	23.39	22.03	21.68	23.45	22.85	25.78	25.32
CFO/Total Liabilities	17.6	15.04	14.4	15.32	12.85	11.86	15.62	16.37	16.53	17.49	16.46	16.44	16.63	12.37	9.48
CFO/CapEx	6.53	6.69	5.35	5.28	6.26	5.74	6.72	7.62	8.92	10.81	9.1	9.35	8.58	6.92	5.44
Altman's Z-Score	4.8	4.63	5.04	5.19	4.86	5.1	5.47	5.59	5.27	5.09	5.69	5.59	5.47	5.1	4.31

Working Capital (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Accounts Receivable Turnover	46.78	44.22	42.52	35.73	29.16	25.19	22.7	21.59	20.87	20.83	21.24	20.33	19.08	18.34	19.72
Days Sales Outstanding	7.8	8.25	8.58	10.22	12.52	14.49	16.08	16.9	17.49	17.52	17.19	17.96	19.13	19.9	18.51
Inventory Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Days Inventory Outstanding	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover	5.93	4.78	5	4.83	5.04	5.05	4.91	4.95	4.78	4.47	4.66	4.62	4.63	4.68	5
Accounts Payable Turnover Days	61.55	76.4	73	75.5	72.36	72.35	74.35	73.73	76.43	81.64	78.29	79.03	78.76	78.03	73.04
Cash Conversion Cycle	-53.74	-68.14	-64.42	-65.29	-59.84	-57.86	-58.28	-56.82	-58.94	-64.12	-61.1	-61.07	-59.63	-58.13	-54.53
Inventory to Cash Days	7.8	8.25	8.58	10.22	12.52	14.49	16.08	16.9	17.49	17.52	17.19	17.96	19.13	19.9	18.51
Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Market Capitalization	52,657	55,271	74,396	96,440	112,111	152,358	213,626	239,155	278,693	331,743	473,518	495,188	486,458	462,862	299,026
- Cash & Cash Equivalents	9,429	8,406	7,276	7,495	10,923	10,430	11,981	10,866	10,985	16,921	21,375	23,365	25,427	25,312	24,365
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	2,121	1,175	1,388	1,631	1,915	4,246	4,531	4,546	5,048	4,719	8,575	10,163	9,933	7,588
+ Total Debt	11,638	16,754	16,860	17,406	31,965	32,970	31,692	36,554	40,678	43,467	46,003	57,623	62,537	76,904	78,389
Enterprise Value	52,289	62,709	83,218	105,998	132,796	173,968	234,074	265,916	309,672	360,477	500,333	533,475	529,530	520,586	356,882
Total Capital	39,469	49,549	51,092	52,640	70,731	75,840	84,678	96,941	106,411	117,820	127,866	152,363	168,483	182,882	181,589
Total Debt/Capital (%)	29.49	33.81	33	33.07	45.19	43.47	37.43	37.71	38.23	36.89	35.98	37.82	37.12	42.05	43.17
Total Debt / EV	0.22	0.27	0.2	0.16	0.24	0.19	0.14	0.14	0.13	0.12	0.09	0.11	0.12	0.15	0.22
EV/Sales	0.51	0.57	0.68	0.81	0.85	0.94	1.16	1.18	1.28	1.4	1.74	1.65	1.42	1.3	0.8
EV/EBITDA	5.45	5.94	7.57	9.02	10.44	11.61	13.41	13.45	13.82	14.25	18.48	16.76	14.58	14.31	15.3
EV/EBIT	6.18	6.78	8.65	10.32	12.05	13.45	15.39	15.33	15.73	16.09	20.87	18.76	16.36	16.12	18.82
EV/Cash Flow to Firm	7.17	8.29	11.18	12.6	13.03	16.68	16.13	15.83	15.63	15.38	21.14	19.16	16.73	19.16	15.39
EV/Free Cash Flow to Firm	6.25	7.27	9.51	10.67	11.3	14.33	14.16	14.1	14.15	14.14	19.16	17.41	15.11	16.97	13.31
Diluted Market Cap	55,089	56,735	77,032	99,675	113,758	154,919	217,153	244,885	283,985	337,003	480,046	503,671	493,829	469,944	300,730
Diluted Enterprise Value	57,298	67,204	87,791	110,974	136,431	179,374	241,110	275,104	318,224	368,597	509,393	546,504	541,102	531,469	362,342
EV per Share	50.33	61.54	84.23	111.11	139.35	182.74	241.56	277	326.66	381.05	530.58	571.17	573.08	568.95	393.98
TTM Sales	101,862	110,618	122,489	130,474	157,107	184,840	201,159	226,247	242,155	257,141	287,597	324,162	371,622	400,278	447,567
TTM EBITDA	9,588	10,563	10,998	11,752	12,714	14,985	17,454	19,772	22,405	25,296	27,073	31,835	36,330	36,386	23,325
TTM Operating Income	8,464	9,254	9,623	10,274	11,021	12,930	15,209	17,344	19,685	22,405	23,970	28,435	32,358	32,287	18,964
TTM Cash Flow to Firm	7,294	7,560	7,442	8,411	10,193	10,431	14,511	16,800	19,812	23,438	23,662	27,845	31,649	27,170	23,184
TTM Free Cash Flow to Firm	8,361	8,630	8,749	9,936	11,749	12,136	16,534	18,863	21,883	25,489	26,116	30,647	35,035	30,669	26,806

Multiples (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Price/Free Cash Flow	6.86	6.9	9.28	10.41	10.07	13.47	13.9	13.78	13.83	13.91	19.36	17.36	15.22	16.96	12.9
EV/EBIT	6.18	6.78	8.65	10.32	12.05	13.45	15.39	15.33	15.73	16.09	20.87	18.76	16.36	16.12	18.82
Enterprise Value	52,289	62,709	83,218	105,998	132,796	173,968	234,074	265,916	309,672	360,477	500,333	533,475	529,530	520,586	356,882
Low Price	36.37	49.82	51.36	69.57	95	107.51	156.09	208.48	208.07	187.72	320.35	445.74	445.68	436.38	234.6
EV/Sales	0.51	0.57	0.68	0.81	0.85	0.94	1.16	1.18	1.28	1.4	1.74	1.65	1.42	1.3	0.8
EV/EBITDA	5.45	5.94	7.57	9.02	10.44	11.61	13.41	13.45	13.82	14.25	18.48	16.76	14.58	14.31	15.3
Price/Earnings	10.24	10	13.23	17.16	19.29	21.71	20.23	19.95	20.14	21.54	27.39	24.61	21.74	32.13	24.8
Price/Earnings Average	9.39	10.16	11.47	14.16	19.11	18.37	17.08	19.89	17.1	18.5	22.03	23.68	20.62	33.89	28.68
Price/Earnings High	10.81	11.2	13.33	17.66	20.69	22.25	21.27	23.06	20.55	22.6	27.78	25.91	22.9	40.06	45.56
Price/Earnings Low	7.35	9.19	9.02	11.81	15.57	14.59	14.33	16.7	14.25	11.53	17.48	20.69	18.4	27.72	17.63
Price/Book Value	1.89	1.8	2.25	2.85	3.02	3.72	4.38	4.28	4.55	4.79	6.14	5.75	5.08	4.82	3.13
Price/Book Value Average	1.73	1.83	1.95	2.35	2.99	3.15	3.7	4.27	3.87	4.11	4.93	5.53	4.82	5.08	3.62
Price/Book Value High	2	2.02	2.27	2.93	3.24	3.81	4.61	4.95	4.65	5.02	6.22	6.05	5.35	6.01	5.74
Price/Book Value Low	1.36	1.66	1.54	1.96	2.44	2.5	3.1	3.58	3.22	2.56	3.92	4.83	4.3	4.16	2.22
Price/Tangible Book Value	34.6	-20.71	-35.03	-34.85	-6.45	-9.56	-19.38	-19.92	-20.13	-28.47	-50.59	-23.13	-24.31	-16.89	-10.21
Price/Tangible Book Value Average	31.72	-21.03	-30.37	-28.76	-6.39	-8.09	-16.36	-19.85	-17.09	-24.46	-40.67	-22.26	-23.06	-17.81	-11.81
Price/Tangible Book Value High	36.52	-23.19	-35.3	-35.86	-6.92	-9.8	-20.37	-23.02	-20.54	-29.87	-51.3	-24.35	-25.62	-21.05	-18.76
Price/Tangible Book Value Low	24.83	-19.02	-23.89	-23.99	-5.21	-6.42	-13.72	-16.67	-14.25	-15.24	-32.27	-19.45	-20.58	-14.57	-7.26
Price/Sales	0.52	0.5	0.61	0.74	0.71	0.82	1.06	1.06	1.15	1.29	1.65	1.53	1.31	1.16	0.67
Price/Sales Average	0.47	0.51	0.53	0.61	0.71	0.7	0.9	1.05	0.98	1.11	1.32	1.47	1.24	1.22	0.77
Price/Sales High	0.55	0.56	0.61	0.76	0.77	0.84	1.12	1.22	1.17	1.35	1.67	1.61	1.38	1.44	1.23
Price/Sales Low	0.37	0.46	0.41	0.51	0.58	0.55	0.75	0.88	0.81	0.69	1.05	1.28	1.11	1	0.47
Price/Cash Flow	7.56	7.72	10.64	11.98	11.51	15.55	15.71	15.22	15.09	14.96	21.19	18.9	16.74	19.12	15.18
Price/Cash Flow Average	6.93	7.84	9.23	9.88	11.4	13.16	13.27	15.17	12.82	12.85	17.04	18.18	15.87	20.17	17.55
Price/Cash Flow High	7.98	8.65	10.72	12.32	12.35	15.94	16.52	17.59	15.4	15.7	21.49	19.89	17.63	23.84	27.89
Price/Cash Flow Low	5.42	7.1	7.26	8.24	9.3	10.45	11.12	12.74	10.68	8.01	13.52	15.89	14.17	16.5	10.79
Price/Free Cash Flow Average	6.29	7	8.05	8.59	9.98	11.4	11.74	13.73	11.74	11.95	15.56	16.71	14.43	17.89	14.91
Price/Free Cash Flow High	7.24	7.73	9.35	10.71	10.8	13.8	14.62	15.92	14.11	14.6	19.63	18.28	16.03	21.15	23.69
Price/Free Cash Flow Low	4.92	6.34	6.33	7.16	8.13	9.05	9.84	11.53	9.79	7.45	12.35	14.6	12.88	14.63	9.17
EV/Sales Average	0.5	0.6	0.61	0.7	0.85	0.83	1.02	1.19	1.12	1.23	1.43	1.6	1.37	1.37	0.91
EV/Sales High	0.57	0.65	0.7	0.85	0.91	0.98	1.24	1.36	1.32	1.48	1.77	1.74	1.51	1.6	1.36
EV/Sales Low	0.39	0.55	0.5	0.6	0.72	0.69	0.87	1.02	0.96	0.81	1.15	1.42	1.24	1.15	0.61
EV/EBITDA Average	5.27	6.3	6.84	7.73	10.52	10.23	11.71	13.59	12.09	12.52	15.15	16.31	14	15.11	17.46
EV/EBITDA High	6.03	6.85	7.79	9.4	11.24	12.05	14.24	15.51	14.22	15.01	18.82	17.72	15.41	17.55	26.19
EV/EBITDA Low	4.17	5.8	5.59	6.61	8.9	8.46	10.04	11.65	10.33	8.27	12.24	14.42	12.64	12.66	11.75
EV/EBIT Average	5.97	7.2	7.82	8.85	12.13	11.86	13.44	15.49	13.76	14.13	17.11	18.27	15.72	17.03	21.48
EV/EBIT High	6.83	7.82	8.91	10.76	12.97	13.97	16.34	17.68	16.19	16.95	21.26	19.84	17.3	19.78	32.21
EV/EBIT Low	4.73	6.62	6.39	7.56	10.27	9.81	11.52	13.28	11.76	9.34	13.83	16.15	14.19	14.27	14.45
Last Price	50.68	54.24	75.3	101.09	117.64	160.04	220.46	249.12	293.98	350.68	502.14	530.18	526.47	505.86	330.11
High Price	53.5	60.75	75.88	104	126.21	164	231.77	287.94	300	367.95	509.23	558.1	554.7	630.73	606.36
Enterprise Value Average	50,490	66,586	75,267	90,882	133,731	153,368	204,337	268,608	270,847	316,609	410,049	519,373	508,687	549,714	407,327
Enterprise Value High	57,796	72,373	85,728	110,515	142,951	180,583	248,542	306,641	318,639	379,675	509,551	564,098	559,816	638,643	610,876
Enterprise Value Low	39,997	61,236	61,503	77,669	113,208	126,805	175,208	230,360	231,489	209,177	331,437	459,154	459,081	460,813	274,122

Shares Outstanding	1,039	1,019	988	954	953	952	969	960	948	946	941	934	924	915	906
Diluted Weighted Avg Shares	1,087	1,046	1,023	986	967	968	985	983	966	961	956	950	938	929	911
Basic Weighted Avg Shares	1,039	1,019	988	954	953	952	969	960	948	946	943	934	924	915	906
Revenue per Share	98.04	108.56	123.98	136.77	164.86	194.16	207.59	235.67	255.44	271.82	304.98	347.07	402.19	437.46	494.09
EBITDA per Share	9.23	10.37	11.13	12.32	13.34	15.74	18.01	20.6	23.63	26.74	28.71	34.08	39.32	39.77	25.75
Operating Income per Share	8.15	9.08	9.74	10.77	11.56	13.58	15.7	18.07	20.76	23.68	25.42	30.44	35.02	35.29	20.94
Basic EPS, GAAP	4.95	5.42	5.69	5.89	6.1	7.37	10.9	12.49	14.6	16.28	18.33	21.54	24.22	15.74	13.31
Basic EPS from Cont Ops	4.95	5.42	5.74	5.89	6.16	7.43	11.17	12.9	15.02	16.67	18.8	22.1	25.05	16.66	14.14
Diluted EPS, GAAP	4.73	5.28	5.5	5.7	6.01	7.25	10.72	12.19	14.33	16.03	18.08	21.18	23.86	15.51	13.23
Diluted EPS from Cont Ops	4.73	5.28	5.55	5.7	6.07	7.31	10.99	12.6	14.74	16.41	18.55	21.73	24.67	16.41	14.06
Dividend per Share	0.63	0.8	1.07	1.43	1.87	2.38	2.86	3.46	4.15	4.85	5.6	6.41	7.32	8.23	8.74
Cash Flow per Share	6.71	7.02	7.08	8.44	10.22	10.29	14.03	16.37	19.48	23.44	23.69	28.06	31.46	26.45	21.74
Free Cash Flow per Basic Share	5.68	5.97	5.75	6.84	8.59	8.5	11.94	14.22	17.29	21.27	21.09	25.06	27.79	22.63	17.75
Cash & Equivalents per Share	11.56	11.22	9.32	9.68	13.55	13.94	15.99	14.92	15.03	20.91	25.35	29.88	32.06	31.82	31.04
Book Value per Share	26.79	30.1	33.46	35.48	38.97	43.02	50.3	58.18	64.54	73.26	81.81	92.25	103.66	104.97	105.55
Tangible Book Value per Share	1.46	-2.62	-2.15	-2.9	-18.24	-16.74	-11.38	-12.51	-14.61	-12.32	-9.93	-22.92	-21.65	-29.96	-32.32

UnitedHealth Group Incorporated

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)