Common-Size Balance Sheet: Assets
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UnitedHealth Group Inc. pages available for free this week:
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Profitability Ratios
- Analysis of Long-term (Investment) Activity Ratios
- Analysis of Reportable Segments
- Common Stock Valuation Ratios
- Dividend Discount Model (DDM)
- Net Profit Margin since 2005
- Operating Profit Margin since 2005
- Price to Earnings (P/E) since 2005
- Analysis of Debt
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UnitedHealth Group Inc., common-size consolidated balance sheet: 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.