Stock Analysis on Net

UnitedHealth Group Inc. (NYSE:UNH)

$24.99

Common-Size Balance Sheet: Assets

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UnitedHealth Group Inc., common-size consolidated balance sheet: assets

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Cash and cash equivalents
Short-term investments
Accounts receivable, net of allowances
Other current receivables, net of allowances
Assets under management
Prepaid expenses and other current assets
Current assets
Long-term investments
Property, equipment and capitalized software, net of accumulated depreciation and amortization
Goodwill
Other intangible assets, net of accumulated amortization
Other assets
Noncurrent assets
Total assets

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).


The analysis of the financial data reveals several notable trends and shifts over the five-year period.

Liquidity Position
Cash and cash equivalents as a percentage of total assets showed a slight decrease after peaking in 2021 at 10.07%, declining to 8.49% by 2024. Short-term investments followed a fluctuating trend, initially declining from 1.45% in 2020 to 1.19% in 2021, then increasing to 1.85% in 2022 before again declining to 1.27% in 2024. Overall, current assets maintained a stable ratio close to 28–29% throughout the period, suggesting a steady liquidity profile.
Receivables
Accounts receivable increased progressively from 6.52% in 2020 to a peak of 7.77% in 2023, then slightly decreased to 7.5% in 2024. Other current receivables showed more variability, dipping in 2022 to 5.2% before rising sharply to 8.75% in 2024, indicating potential changes in collection practices or shifts in credit terms.
Assets under Management
This category declined steadily, dropping from 2.07% in 2020 to 1.37% in 2023, and no data was provided for 2024. This downward trend may indicate a reduction in externally managed asset volumes or reclassification within the balance sheet.
Prepaid Expenses and Other Current Assets
This item showed slight fluctuations, rising from 2.26% in 2020 to 2.75% in 2024, with a minor dip in 2023. This points to relatively stable prepaid expenses relative to total assets.
Noncurrent Assets
Noncurrent assets remained approximately 70–72% of total assets, reflecting consistency in the long-term asset base. Within this category, long-term investments decreased from 20.9% in 2020 to around 17.5% in 2024, suggesting asset reallocation or divestiture.
Fixed Assets and Intangible Assets
Property, equipment, and capitalized software saw a gradual decline, dropping to 3.54% in 2024 from 4.37% in 2020, indicating possible asset disposals or capital expenditure reductions. Goodwill fluctuated moderately, peaking at 37.99% in 2022 and ending at 35.78% in 2024, suggesting some impairment or acquisitions activity. Other intangible assets showed variability with a notable increase to 7.8% by 2024, potentially reflecting new intangible asset recognition or market valuation adjustments.
Other Assets
Other assets exhibited a gradual upward trend from 5.83% in 2020 to 6.57% in 2024, indicating a slight increase in miscellaneous or less-defined asset categories.

Overall, the company maintained a relatively stable asset structure with a dominant portion in noncurrent assets. Minor decreases in cash holdings and fixed assets were offset by increases in certain receivable categories and other intangible assets. The data suggests a focus on maintaining liquidity while managing long-term assets and intangibles with some rebalancing over the analyzed period.