Adjusted Financial Ratios
Adjusted Financial Ratios (Summary)
UnitedHealth Group Inc., adjusted financial ratios
Based on: 10-K (filing date: 2021-03-01), 10-K (filing date: 2020-02-14), 10-K (filing date: 2019-02-12), 10-K (filing date: 2018-02-13), 10-K (filing date: 2017-02-08).
Financial ratio | Description | The company |
---|---|---|
Adjusted total asset turnover | An activity ratio calculated as total revenue divided by adjusted total assets. | UnitedHealth Group Inc.’s adjusted total asset turnover ratio deteriorated from 2018 to 2019 and from 2019 to 2020. |
Adjusted current ratio | A liquidity ratio calculated as adjusted current assets divided by adjusted current liabilities. | UnitedHealth Group Inc.’s adjusted current ratio deteriorated from 2018 to 2019 but then improved from 2019 to 2020 exceeding 2018 level. |
Adjusted debt-to-equity ratio | A solvency ratio calculated as adjusted total debt divided by adjusted total equity. | UnitedHealth Group Inc.’s adjusted debt-to-equity ratio deteriorated from 2018 to 2019 but then improved from 2019 to 2020 exceeding 2018 level. |
Adjusted debt-to-capital ratio | A solvency ratio calculated as adjusted total debt divided by adjusted total debt plus adjusted total equity. | UnitedHealth Group Inc.’s adjusted debt-to-capital ratio deteriorated from 2018 to 2019 but then improved from 2019 to 2020 exceeding 2018 level. |
Adjusted financial leverage | A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity. Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income. |
UnitedHealth Group Inc.’s adjusted financial leverage ratio increased from 2018 to 2019 but then slightly decreased from 2019 to 2020. |
Adjusted net profit margin | An indicator of profitability, calculated as adjusted net income divided by total revenue. | UnitedHealth Group Inc.’s adjusted net profit margin ratio improved from 2018 to 2019 but then slightly deteriorated from 2019 to 2020. |
Adjusted ROE | A profitability ratio calculated as adjusted net income divided by adjusted total equity. | UnitedHealth Group Inc.’s adjusted ROE improved from 2018 to 2019 but then slightly deteriorated from 2019 to 2020. |
Adjusted ROA | A profitability ratio calculated as adjusted net income divided by adjusted total assets. | UnitedHealth Group Inc.’s adjusted ROA improved from 2018 to 2019 but then slightly deteriorated from 2019 to 2020. |
UnitedHealth Group Inc., Financial Ratios: Reported vs. Adjusted
Adjusted Total Asset Turnover
Based on: 10-K (filing date: 2021-03-01), 10-K (filing date: 2020-02-14), 10-K (filing date: 2019-02-12), 10-K (filing date: 2018-02-13), 10-K (filing date: 2017-02-08).
1 2020 Calculation
Total asset turnover = Revenues ÷ Total assets
= 255,639 ÷ 197,289 = 1.30
2 Adjusted revenues. See details »
3 Adjusted total assets. See details »
4 2020 Calculation
Adjusted total asset turnover = Adjusted revenues ÷ Adjusted total assets
= 255,859 ÷ 199,326 = 1.28
Activity ratio | Description | The company |
---|---|---|
Adjusted total asset turnover | An activity ratio calculated as total revenue divided by adjusted total assets. | UnitedHealth Group Inc.’s adjusted total asset turnover ratio deteriorated from 2018 to 2019 and from 2019 to 2020. |
Adjusted Current Ratio
Based on: 10-K (filing date: 2021-03-01), 10-K (filing date: 2020-02-14), 10-K (filing date: 2019-02-12), 10-K (filing date: 2018-02-13), 10-K (filing date: 2017-02-08).
1 2020 Calculation
Current ratio = Current assets ÷ Current liabilities
= 53,718 ÷ 72,420 = 0.74
2 Adjusted current assets. See details »
3 Adjusted current liabilities. See details »
4 2020 Calculation
Adjusted current ratio = Adjusted current assets ÷ Adjusted current liabilities
= 55,755 ÷ 69,578 = 0.80
Liquidity ratio | Description | The company |
---|---|---|
Adjusted current ratio | A liquidity ratio calculated as adjusted current assets divided by adjusted current liabilities. | UnitedHealth Group Inc.’s adjusted current ratio deteriorated from 2018 to 2019 but then improved from 2019 to 2020 exceeding 2018 level. |
Adjusted Debt to Equity
Based on: 10-K (filing date: 2021-03-01), 10-K (filing date: 2020-02-14), 10-K (filing date: 2019-02-12), 10-K (filing date: 2018-02-13), 10-K (filing date: 2017-02-08).
1 2020 Calculation
Debt to equity = Total debt ÷ Shareholders’ equity attributable to UnitedHealth Group
= 43,467 ÷ 65,491 = 0.66
2 Adjusted total debt. See details »
3 Adjusted total equity. See details »
4 2020 Calculation
Adjusted debt to equity = Adjusted total debt ÷ Adjusted total equity
= 47,914 ÷ 78,785 = 0.61
Solvency ratio | Description | The company |
---|---|---|
Adjusted debt-to-equity ratio | A solvency ratio calculated as adjusted total debt divided by adjusted total equity. | UnitedHealth Group Inc.’s adjusted debt-to-equity ratio deteriorated from 2018 to 2019 but then improved from 2019 to 2020 exceeding 2018 level. |
Adjusted Debt to Capital
Based on: 10-K (filing date: 2021-03-01), 10-K (filing date: 2020-02-14), 10-K (filing date: 2019-02-12), 10-K (filing date: 2018-02-13), 10-K (filing date: 2017-02-08).
1 2020 Calculation
Debt to capital = Total debt ÷ Total capital
= 43,467 ÷ 108,958 = 0.40
2 Adjusted total debt. See details »
3 Adjusted total capital. See details »
4 2020 Calculation
Adjusted debt to capital = Adjusted total debt ÷ Adjusted total capital
= 47,914 ÷ 126,699 = 0.38
Solvency ratio | Description | The company |
---|---|---|
Adjusted debt-to-capital ratio | A solvency ratio calculated as adjusted total debt divided by adjusted total debt plus adjusted total equity. | UnitedHealth Group Inc.’s adjusted debt-to-capital ratio deteriorated from 2018 to 2019 but then improved from 2019 to 2020 exceeding 2018 level. |
Adjusted Financial Leverage
Based on: 10-K (filing date: 2021-03-01), 10-K (filing date: 2020-02-14), 10-K (filing date: 2019-02-12), 10-K (filing date: 2018-02-13), 10-K (filing date: 2017-02-08).
1 2020 Calculation
Financial leverage = Total assets ÷ Shareholders’ equity attributable to UnitedHealth Group
= 197,289 ÷ 65,491 = 3.01
2 Adjusted total assets. See details »
3 Adjusted total equity. See details »
4 2020 Calculation
Adjusted financial leverage = Adjusted total assets ÷ Adjusted total equity
= 199,326 ÷ 78,785 = 2.53
Solvency ratio | Description | The company |
---|---|---|
Adjusted financial leverage | A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity. Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income. |
UnitedHealth Group Inc.’s adjusted financial leverage ratio increased from 2018 to 2019 but then slightly decreased from 2019 to 2020. |
Adjusted Net Profit Margin
Based on: 10-K (filing date: 2021-03-01), 10-K (filing date: 2020-02-14), 10-K (filing date: 2019-02-12), 10-K (filing date: 2018-02-13), 10-K (filing date: 2017-02-08).
1 2020 Calculation
Net profit margin = 100 × Net earnings attributable to UnitedHealth Group common shareholders ÷ Revenues
= 100 × 15,403 ÷ 255,639 = 6.03%
2 Adjusted net earnings. See details »
3 Adjusted revenues. See details »
4 2020 Calculation
Adjusted net profit margin = 100 × Adjusted net earnings ÷ Adjusted revenues
= 100 × 16,404 ÷ 255,859 = 6.41%
Profitability ratio | Description | The company |
---|---|---|
Adjusted net profit margin | An indicator of profitability, calculated as adjusted net income divided by total revenue. | UnitedHealth Group Inc.’s adjusted net profit margin ratio improved from 2018 to 2019 but then slightly deteriorated from 2019 to 2020. |
Adjusted Return on Equity (ROE)
Based on: 10-K (filing date: 2021-03-01), 10-K (filing date: 2020-02-14), 10-K (filing date: 2019-02-12), 10-K (filing date: 2018-02-13), 10-K (filing date: 2017-02-08).
1 2020 Calculation
ROE = 100 × Net earnings attributable to UnitedHealth Group common shareholders ÷ Shareholders’ equity attributable to UnitedHealth Group
= 100 × 15,403 ÷ 65,491 = 23.52%
2 Adjusted net earnings. See details »
3 Adjusted total equity. See details »
4 2020 Calculation
Adjusted ROE = 100 × Adjusted net earnings ÷ Adjusted total equity
= 100 × 16,404 ÷ 78,785 = 20.82%
Profitability ratio | Description | The company |
---|---|---|
Adjusted ROE | A profitability ratio calculated as adjusted net income divided by adjusted total equity. | UnitedHealth Group Inc.’s adjusted ROE improved from 2018 to 2019 but then slightly deteriorated from 2019 to 2020. |
Adjusted Return on Assets (ROA)
Based on: 10-K (filing date: 2021-03-01), 10-K (filing date: 2020-02-14), 10-K (filing date: 2019-02-12), 10-K (filing date: 2018-02-13), 10-K (filing date: 2017-02-08).
1 2020 Calculation
ROA = 100 × Net earnings attributable to UnitedHealth Group common shareholders ÷ Total assets
= 100 × 15,403 ÷ 197,289 = 7.81%
2 Adjusted net earnings. See details »
3 Adjusted total assets. See details »
4 2020 Calculation
Adjusted ROA = 100 × Adjusted net earnings ÷ Adjusted total assets
= 100 × 16,404 ÷ 199,326 = 8.23%
Profitability ratio | Description | The company |
---|---|---|
Adjusted ROA | A profitability ratio calculated as adjusted net income divided by adjusted total assets. | UnitedHealth Group Inc.’s adjusted ROA improved from 2018 to 2019 but then slightly deteriorated from 2019 to 2020. |