Unitedhealth Group
UNH on NYSE. UnitedHealth Group sells health insurance and health services to people, employers, and governments. Market value $340.3bn.
Ranked 673 of 1,305 on tonight’s list. On the list every night since 20 August 2026.
For every $100 of what the whole company costs, it produced $4.72 of spare cash last year. A savings account pays about 4.
You pay 20.5 years of operating profit for the business. The average large US company costs around 18.
Not meaningful for banks and insurers, whose profit is not measured this way.
Five years of cash, in billions
| Revenue | $287.6bn | $324.2bn | $371.6bn | $400.3bn | $447.6bn |
| Operating margin | 8.3% | 8.8% | 8.7% | 8.1% | 4.2% |
| Debt to equity | n/a | n/a | n/a | n/a | n/a |
| Shares outstanding | 0.95bn | 0.94bn | 0.93bn | 0.92bn | 0.91bn |
Health checks
- Free cash flow positive5 of 5 years
- Accounting looks honest (Beneish)Clean
- Financial strength (Piotroski)8 of 9
- Profit backed by cash (accruals)Yes
- Debt2.23× equity
- Revenue growth, five yearsStrong, 11.7% a year
- Buying back its own sharesYes, 3% fewer since 2021
Dates
Funds that own it
| Manager | Value | Change |
|---|---|---|
| Dodge & Cox | $3.8bn | Cut 4% |
| Eagle Capital Management | $2.4bn | Held |
| GMO Asset Management | $1.2bn | Cut 11% |
| Davis Selected Advisers | $530m | Added 2% |
| Ruane Cunniff & Goldfarb | $293m | Cut 3% |
| TIGER GLOBAL MANAGEMENT LLC | $139m | Cut 4% |
| Smead Capital | $136m | Cut 5% |
| Gotham Asset Management | $36m | Held |
| Vulcan Value Partners | $28m | Cut 93% |
| First Eagle Investment | $18m | Added 4% |
| Bridgewater Associates | $3m | New position |
| Tweedy Browne | $2m | Added 12% |
| GAMCO Investors | $991,278 | Added 9% |
| Jensen Investment Management | $357,026 | Cut 42% |
| Brave Warrior Advisors | $207,399 | New position |
| Appaloosa LP | $0 | Exited |
| Markel Group | $0 | Exited |
| Scion Asset Management | $0 | Exited |
From 13F filings for the quarter ending 30 June 2026. These are reported 45 days late and only show long positions.
Insiders
We do not track insider filings for this company yet.
What could go wrong
Cheap for a reason is the question the numbers cannot answer. Whether the price already reflects the risks is what the deep dive is for.
The deep dive
Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.
- What the business is worth, as a range, and the margin of safety at today’s price
- Prices to start buying, buy, and buy hard
- The three things that would make this a mistake
- Every number footnoted to the filing it came from
Your first deep dive is free.
Not advice. Numbers on this page come from SEC filings and are updated each night; the five-year figures are rounded.