Stock Analysis on Net

UnitedHealth Group Inc. (NYSE:UNH)

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Common-Size Balance Sheet: Assets
Quarterly Data

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UnitedHealth Group Inc., common-size consolidated balance sheet: assets (quarterly data)

Microsoft Excel
Mar 31, 2025 Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020
Cash and cash equivalents
Short-term investments
Accounts receivable, net
Other current receivables, net
Assets under management
Prepaid expenses and other current assets
Current assets
Long-term investments
Property, equipment and capitalized software, net
Goodwill
Other intangible assets, net
Other assets
Noncurrent assets
Total assets

Based on: 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).


Cash and cash equivalents
This metric fluctuated over the observed periods, starting at 11.41% of total assets in March 2020, experiencing a dip to as low as 8.49% in December 2024, with notable peaks around September 2022 (15.98%) and mid-2023 (14.92%). The overall trend indicates variability without a clear upward or downward trajectory, suggesting shifts in liquidity management throughout the periods.
Short-term investments
Short-term investments represented a relatively stable proportion of total assets, oscillating narrowly around the 1.3% to 1.8% range. There was a slight decline toward the end of the timeline, decreasing to approximately 1.15% by March 2025, indicating a modest reduction in short-term investment holdings relative to total assets.
Accounts receivable, net
The percentage of accounts receivable exhibited moderate fluctuations, with values ranging between approximately 6.37% and 9.57%. The figure rose notably during March 2024 (9.57%), after a period of relative stability. This pattern may reflect changing credit sales or collection efficiency during these quarters.
Other current receivables, net
This category showed minor variability, generally maintaining between about 5.18% and 9.36%. A notable increase occurred mid-2024 with the highest recorded value of 9.36%, possibly indicating an accumulation of miscellaneous receivables in that period.
Assets under management
Assets under management as a percentage of total assets initially increased through 2020, reaching a peak near 2.1%. Subsequently, there was a gradual decline and some missing data in later periods, with the last recorded point showing a decrease to around 1.19%. This suggests a contraction in managed assets relative to overall assets during the later periods.
Prepaid expenses and other current assets
This item remained relatively stable, fluctuating slightly within a narrow range, mostly between 2.0% and 3.0%. The trend indicates consistent management of prepaid and miscellaneous current assets without significant shifts.
Current assets
Current assets maintained a broad range from about 27% to 34%, exhibiting some cyclical variation. Notably, there was an increase during times such as September 2022 (34.12%) and March 2023 (33.1%), followed by declines in other quarters. Overall, the current assets proportion remained a significant part of total assets, showing periodic rebalancing.
Long-term investments
Long-term investments generally declined slightly over the observed period, descending from approximately 20.9% in December 2020 to lower figures around 16% toward the end of 2024 and early 2025. Occasional minor recoveries were seen, but the overall trend suggests a gradual reduction in this asset class.
Property, equipment, and capitalized software, net
This component showed marginal decreases over time, shifting from about 4.37% in late 2020 to roughly 3.4% by late 2024. The downward movement may indicate depreciation outpacing capital expenditure or a strategic shift away from fixed asset investments.
Goodwill
Goodwill consistently represented a major portion of total assets, ranging approximately between 34.5% and 38%. Minor volatility was noted, but the percentage remained relatively stable throughout, signaling sustained levels of acquired intangible value.
Other intangible assets, net
This ratio initially ranged near 5.3% but increased notably toward late 2024, peaking above 7.8%. This rise indicates increased valuation or addition of intangible assets over time, contributing to the company's intangible asset base.
Other assets
Other assets as a share of total assets showed a slight upward trend over the quarters, increasing from about 5.3% to near 6.6%. This gradual increase suggests a modest accumulation or reclassification of other asset categories.
Noncurrent assets
Noncurrent assets comprised the majority of total assets throughout the periods, fluctuating between roughly 65.9% and 72.8%. While some quarters showed declines, others reflected increases, without a definitive long-term trend, indicating ongoing adjustments in the company's long-term asset structure.
Total assets
The total assets are consistently represented as 100% across all periods, serving as the baseline for relative metric calculations.