Price to Earnings (P/E)
since 2005
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UnitedHealth Group Inc. pages available for free this week:
- Cash Flow Statement
- Common-Size Income Statement
- Analysis of Short-term (Operating) Activity Ratios
- Analysis of Long-term (Investment) Activity Ratios
- Capital Asset Pricing Model (CAPM)
- Operating Profit Margin since 2005
- Return on Assets (ROA) since 2005
- Total Asset Turnover since 2005
- Price to Book Value (P/BV) since 2005
- Price to Sales (P/S) since 2005
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Calculation
UnitedHealth Group Inc., P/E, long-term trends, calculation
| P/E | = | Share price1, 2, 3 | ÷ | Earnings per share1 (EPS) | EPS1 | = | Net earnings attributable to UnitedHealth Group common shareholders1 (in millions) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Feb 27, 2025 | = | ÷ | = | ÷ | |||||||
| Feb 28, 2024 | = | ÷ | = | ÷ | |||||||
| Feb 24, 2023 | = | ÷ | = | ÷ | |||||||
| Feb 15, 2022 | = | ÷ | = | ÷ | |||||||
| Mar 1, 2021 | = | ÷ | = | ÷ | |||||||
| Feb 14, 2020 | = | ÷ | = | ÷ | |||||||
| Feb 12, 2019 | = | ÷ | = | ÷ | |||||||
| Feb 13, 2018 | = | ÷ | = | ÷ | |||||||
| Feb 8, 2017 | = | ÷ | = | ÷ | |||||||
| Feb 9, 2016 | = | ÷ | = | ÷ | |||||||
| Feb 10, 2015 | = | ÷ | = | ÷ | |||||||
| Feb 12, 2014 | = | ÷ | = | ÷ | |||||||
| Feb 7, 2013 | = | ÷ | = | ÷ | |||||||
| Feb 9, 2012 | = | ÷ | = | ÷ | |||||||
| Feb 10, 2011 | = | ÷ | = | ÷ | |||||||
| Feb 10, 2010 | = | ÷ | = | ÷ | |||||||
| Feb 11, 2009 | = | ÷ | = | ÷ | |||||||
| Feb 21, 2008 | = | ÷ | = | ÷ | |||||||
| Mar 6, 2007 | = | ÷ | = | ÷ | |||||||
| Feb 24, 2006 | = | ÷ | = | ÷ |
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), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
1 US$
2 Data adjusted for splits and stock dividends.
3 Closing price as at the filing date of UnitedHealth Group Inc. Annual Report.
The share price exhibited a fluctuating trend over the period, with an initial decline from $58.89 in early 2006 to a low of $28.55 by early 2009. Subsequently, the share price demonstrated a strong upward trajectory, reaching a peak of $498.28 in early 2024 before experiencing a slight decrease to $468.56 in early 2025. This overall growth suggests significant market confidence and value appreciation over the long term despite short-term volatility.
Earnings per share (EPS) followed a somewhat parallel path, increasing steadily from $2.43 in 2006 to a peak of $24.28 in 2024. There was a notable dip in EPS from $3.72 in 2008 to $2.45 in 2009, which coincided with the global financial crisis period. Afterward, EPS generally grew year over year, reflecting improving profitability. However, a decline occurred in 2025, with EPS dropping to $15.75 from the previous year's $24.28, indicating potential challenges affecting earnings in the most recent year.
The price-to-earnings (P/E) ratio exhibited variability without a clear long-term trend. Initially, the ratio declined from 24.2 in 2006 to a low of 9.91 in 2010, suggesting that either earnings growth outpaced share price appreciation or market valuation became more conservative. From 2010 onwards, the P/E ratio generally increased, reaching a high of 29.75 in 2025, reflecting relatively higher market valuation compared to earnings. This rise implies that investors may have had elevated expectations for future growth or were willing to pay a premium despite the recent drop in EPS.
- Summary of Share Price Trends
- Declined sharply from 2006 to 2009, then steadily increased until 2024, followed by a modest decline in 2025.
- Summary of EPS Trends
- Overall strong growth with a dip during the 2009 period, continued steady improvement until 2024, with a significant decline in 2025.
- Summary of P/E Ratio Trends
- Decreased significantly in the early years, stabilized, then rose to a peak in 2025, indicating increasing market valuation relative to earnings.
- Insights
- Despite fluctuations in share price and earnings, the company demonstrated long-term upward momentum in market value and profitability. The recent EPS decline alongside an elevated P/E ratio suggests investors maintain optimistic growth expectations or that earnings challenges may be temporary.
Comparison to Competitors
UnitedHealth Group Inc., P/E, long-term trends, comparison to competitors
| UnitedHealth Group Inc. | Abbott Laboratories | CVS Health Corp. | Elevance Health Inc. | Intuitive Surgical Inc. | Medtronic PLC | |
|---|---|---|---|---|---|---|
| Feb 27, 2025 | ||||||
| Feb 28, 2024 | ||||||
| Feb 24, 2023 | ||||||
| Feb 15, 2022 | ||||||
| Mar 1, 2021 | ||||||
| Feb 14, 2020 | ||||||
| Feb 12, 2019 | ||||||
| Feb 13, 2018 | ||||||
| Feb 8, 2017 | ||||||
| Feb 9, 2016 | ||||||
| Feb 10, 2015 | ||||||
| Feb 12, 2014 | ||||||
| Feb 7, 2013 | ||||||
| Feb 9, 2012 | ||||||
| Feb 10, 2011 | ||||||
| Feb 10, 2010 | ||||||
| Feb 11, 2009 | ||||||
| Feb 21, 2008 | ||||||
| Mar 6, 2007 | ||||||
| Feb 24, 2006 |
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), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Sector (Health Care Equipment & Services)
UnitedHealth Group Inc., P/E, long-term trends, comparison to sector (health care equipment & services)
| UnitedHealth Group Inc. | Health Care Equipment & Services | |
|---|---|---|
| Feb 27, 2025 | ||
| Feb 28, 2024 | ||
| Feb 24, 2023 | ||
| Feb 15, 2022 | ||
| Mar 1, 2021 | ||
| Feb 14, 2020 | ||
| Feb 12, 2019 | ||
| Feb 13, 2018 | ||
| Feb 8, 2017 | ||
| Feb 9, 2016 | ||
| Feb 10, 2015 | ||
| Feb 12, 2014 | ||
| Feb 7, 2013 | ||
| Feb 9, 2012 | ||
| Feb 10, 2011 | ||
| Feb 10, 2010 | ||
| Feb 11, 2009 | ||
| Feb 21, 2008 | ||
| Mar 6, 2007 | ||
| Feb 24, 2006 |
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), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Industry (Health Care)
UnitedHealth Group Inc., P/E, long-term trends, comparison to industry (health care)
| UnitedHealth Group Inc. | Health Care | |
|---|---|---|
| Feb 27, 2025 | ||
| Feb 28, 2024 | ||
| Feb 24, 2023 | ||
| Feb 15, 2022 | ||
| Mar 1, 2021 | ||
| Feb 14, 2020 | ||
| Feb 12, 2019 | ||
| Feb 13, 2018 | ||
| Feb 8, 2017 | ||
| Feb 9, 2016 | ||
| Feb 10, 2015 | ||
| Feb 12, 2014 | ||
| Feb 7, 2013 | ||
| Feb 9, 2012 | ||
| Feb 10, 2011 | ||
| Feb 10, 2010 | ||
| Feb 11, 2009 | ||
| Feb 21, 2008 | ||
| Mar 6, 2007 | ||
| Feb 24, 2006 |
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), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).