Analysis of Liquidity Ratios
Quarterly Data
Liquidity ratios measure the company ability to meet its short-term obligations.
Liquidity Ratios (Summary)
UnitedHealth Group Inc., liquidity ratios (quarterly data)
Based on: 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), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
| Liquidity ratio | Description | The company |
|---|---|---|
| Current ratio | A liquidity ratio calculated as current assets divided by current liabilities. | UnitedHealth Group Inc. current ratio improved from Q2 2023 to Q3 2023 but then deteriorated significantly from Q3 2023 to Q4 2023. |
| Quick ratio | A liquidity ratio calculated as (cash plus short-term marketable investments plus receivables) divided by current liabilities. | UnitedHealth Group Inc. quick ratio improved from Q2 2023 to Q3 2023 but then deteriorated significantly from Q3 2023 to Q4 2023. |
| Cash ratio | A liquidity ratio calculated as (cash plus short-term marketable investments) divided by current liabilities. | UnitedHealth Group Inc. cash ratio deteriorated from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023. |
Current Ratio
UnitedHealth Group Inc., current ratio calculation (quarterly data)
| 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 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||
| Current assets | 78,437) | 91,905) | 89,869) | 93,895) | 69,069) | 82,937) | 68,356) | 69,029) | 61,758) | 61,610) | 58,916) | 59,508) | 53,718) | 54,821) | 58,918) | 58,807) | 42,634) | 43,541) | 42,038) | 42,815) | ||||||
| Current liabilities | 99,054) | 114,179) | 112,981) | 116,482) | 89,237) | 100,935) | 88,698) | 88,170) | 78,292) | 79,575) | 76,557) | 80,641) | 72,420) | 66,597) | 69,883) | 78,606) | 61,782) | 62,641) | 62,328) | 58,933) | ||||||
| Liquidity Ratio | ||||||||||||||||||||||||||
| Current ratio1 | 0.79 | 0.80 | 0.80 | 0.81 | 0.77 | 0.82 | 0.77 | 0.78 | 0.79 | 0.77 | 0.77 | 0.74 | 0.74 | 0.82 | 0.84 | 0.75 | 0.69 | 0.70 | 0.67 | 0.73 | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| Current Ratio, Competitors2 | ||||||||||||||||||||||||||
| Abbott Laboratories | 1.64 | 1.74 | 1.64 | 1.68 | 1.63 | 1.86 | 2.01 | 1.85 | 1.85 | 1.83 | 1.79 | 1.75 | 1.72 | 1.70 | 1.57 | 1.43 | 1.44 | 1.54 | 1.68 | 1.58 | ||||||
| Cigna Group | 0.77 | 0.73 | 0.73 | 0.72 | 0.73 | 0.73 | 0.83 | 0.81 | 0.83 | 0.70 | 0.72 | 0.76 | 0.77 | 0.79 | 0.83 | 0.76 | 0.74 | 0.61 | 0.65 | 0.64 | ||||||
| CVS Health Corp. | 0.86 | 0.86 | 0.86 | 0.92 | 0.94 | 0.94 | 0.91 | 0.88 | 0.88 | 0.94 | 0.95 | 0.93 | 0.91 | 0.95 | 0.98 | 0.99 | 0.94 | 0.92 | 0.95 | 0.95 | ||||||
| Elevance Health Inc. | 1.44 | 1.41 | 1.44 | 1.43 | 1.40 | 1.35 | 1.36 | 1.36 | 1.47 | 1.48 | 1.49 | 1.57 | 1.55 | 1.59 | 1.64 | 1.53 | 1.65 | 1.70 | 1.64 | 1.61 | ||||||
| Humana Inc. | 1.59 | 1.37 | 1.37 | 1.39 | 1.52 | 1.35 | 1.53 | 1.53 | 1.62 | 1.72 | 1.71 | 1.67 | 1.77 | 1.81 | 1.69 | 1.66 | 1.82 | 1.83 | 1.75 | 1.65 | ||||||
| Intuitive Surgical Inc. | 4.76 | 5.31 | 5.22 | 5.26 | 4.40 | 5.10 | 5.36 | 5.22 | 5.08 | 5.58 | 5.99 | 6.71 | 6.86 | 7.04 | 6.38 | 4.96 | 4.53 | 4.64 | 5.04 | 5.44 | ||||||
| Medtronic PLC | 2.39 | 1.76 | 1.76 | 1.58 | 1.86 | 2.61 | 2.91 | 2.89 | 2.65 | 2.10 | 2.16 | 1.87 | 2.13 | 2.75 | 2.77 | 2.67 | 2.59 | 2.36 | 2.56 | 2.46 | ||||||
| Shockwave Medical Inc. | 11.76 | 14.43 | 5.69 | 4.16 | 7.25 | 7.29 | 5.32 | 6.07 | 5.54 | 6.36 | 6.66 | 6.96 | 9.63 | 12.21 | 14.90 | 10.53 | 9.03 | 6.76 | 9.13 | 10.37 | ||||||
Based on: 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), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
1 Q4 2023 Calculation
Current ratio = Current assets ÷ Current liabilities
= 78,437 ÷ 99,054 = 0.79
2 Click competitor name to see calculations.
| Liquidity ratio | Description | The company |
|---|---|---|
| Current ratio | A liquidity ratio calculated as current assets divided by current liabilities. | UnitedHealth Group Inc. current ratio improved from Q2 2023 to Q3 2023 but then deteriorated significantly from Q3 2023 to Q4 2023. |
Quick Ratio
UnitedHealth Group Inc., quick ratio calculation (quarterly data)
| 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 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||
| Cash and cash equivalents | 25,427) | 38,915) | 41,813) | 41,913) | 23,365) | 38,845) | 24,612) | 25,482) | 21,375) | 21,085) | 19,832) | 19,955) | 16,921) | 17,550) | 22,327) | 21,569) | 10,985) | 12,363) | 13,745) | 12,407) | ||||||
| Short-term investments | 4,201) | 5,182) | 4,466) | 4,584) | 4,546) | 3,682) | 3,352) | 2,914) | 2,532) | 2,786) | 2,729) | 2,962) | 2,860) | 3,259) | 3,266) | 2,876) | 3,260) | 3,455) | 3,524) | 3,303) | ||||||
| Accounts receivable, net | 21,276) | 20,673) | 17,952) | 22,414) | 17,681) | 17,047) | 18,718) | 18,871) | 14,216) | 14,152) | 14,587) | 15,980) | 12,870) | 12,171) | 12,546) | 14,613) | 11,822) | 10,964) | 9,741) | 12,826) | ||||||
| Other current receivables, net | 17,694) | 17,752) | 16,131) | 14,696) | 12,769) | 13,684) | 12,439) | 11,994) | 13,866) | 14,080) | 12,630) | 11,546) | 12,534) | 13,231) | 11,430) | 10,275) | 9,640) | 10,152) | 8,434) | 7,631) | ||||||
| Assets under management | 3,755) | 3,616) | 3,623) | 3,837) | 4,087) | 4,022) | 4,017) | 4,155) | 4,449) | 4,304) | 4,198) | 4,094) | 4,076) | 3,788) | 3,417) | 2,866) | 3,076) | 3,051) | 2,943) | 2,951) | ||||||
| Total quick assets | 72,353) | 86,138) | 83,985) | 87,444) | 62,448) | 77,280) | 63,138) | 63,416) | 56,438) | 56,407) | 53,976) | 54,537) | 49,261) | 49,999) | 52,986) | 52,199) | 38,783) | 39,985) | 38,387) | 39,118) | ||||||
| Current liabilities | 99,054) | 114,179) | 112,981) | 116,482) | 89,237) | 100,935) | 88,698) | 88,170) | 78,292) | 79,575) | 76,557) | 80,641) | 72,420) | 66,597) | 69,883) | 78,606) | 61,782) | 62,641) | 62,328) | 58,933) | ||||||
| Liquidity Ratio | ||||||||||||||||||||||||||
| Quick ratio1 | 0.73 | 0.75 | 0.74 | 0.75 | 0.70 | 0.77 | 0.71 | 0.72 | 0.72 | 0.71 | 0.71 | 0.68 | 0.68 | 0.75 | 0.76 | 0.66 | 0.63 | 0.64 | 0.62 | 0.66 | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| Quick Ratio, Competitors2 | ||||||||||||||||||||||||||
| Abbott Laboratories | 1.00 | 1.04 | 1.00 | 1.07 | 1.06 | 1.22 | 1.33 | 1.21 | 1.28 | 1.25 | 1.19 | 1.16 | 1.14 | 1.01 | 0.93 | 0.83 | 0.88 | 0.93 | 0.98 | 0.94 | ||||||
| Cigna Group | 0.54 | 0.61 | 0.61 | 0.59 | 0.58 | 0.61 | 0.52 | 0.48 | 0.48 | 0.58 | 0.59 | 0.64 | 0.66 | 0.46 | 0.50 | 0.42 | 0.41 | 0.51 | 0.53 | 0.53 | ||||||
| CVS Health Corp. | 0.59 | 0.60 | 0.59 | 0.61 | 0.62 | 0.64 | 0.62 | 0.54 | 0.55 | 0.59 | 0.58 | 0.54 | 0.53 | 0.58 | 0.63 | 0.60 | 0.52 | 0.52 | 0.54 | 0.55 | ||||||
| Elevance Health Inc. | 1.30 | 1.29 | 1.32 | 1.31 | 1.27 | 1.21 | 1.22 | 1.23 | 1.33 | 1.33 | 1.35 | 1.43 | 1.42 | 1.45 | 1.49 | 1.37 | 1.52 | 1.58 | 1.51 | 1.49 | ||||||
| Humana Inc. | 1.24 | 1.15 | 1.16 | 1.18 | 1.20 | 1.13 | 1.21 | 1.21 | 1.20 | 1.32 | 1.28 | 1.26 | 1.37 | 1.47 | 1.35 | 1.29 | 1.47 | 1.51 | 1.36 | 1.32 | ||||||
| Intuitive Surgical Inc. | 3.83 | 4.44 | 4.36 | 4.30 | 3.56 | 4.19 | 4.49 | 4.40 | 4.34 | 4.66 | 5.12 | 5.76 | 5.96 | 5.93 | 5.40 | 4.00 | 3.75 | 3.80 | 4.15 | 4.53 | ||||||
| Medtronic PLC | 1.54 | 1.18 | 1.18 | 1.01 | 1.30 | 1.87 | 2.07 | 2.06 | 1.91 | 1.58 | 1.63 | 1.37 | 1.50 | 2.05 | 2.02 | 1.95 | 1.90 | 1.69 | 1.88 | 1.83 | ||||||
| Shockwave Medical Inc. | 10.61 | 12.99 | 4.43 | 3.53 | 5.93 | 5.81 | 4.30 | 4.88 | 4.62 | 5.29 | 5.55 | 5.88 | 8.37 | 10.70 | 13.40 | 9.50 | 8.44 | 6.17 | 8.47 | 9.72 | ||||||
Based on: 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), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
1 Q4 2023 Calculation
Quick ratio = Total quick assets ÷ Current liabilities
= 72,353 ÷ 99,054 = 0.73
2 Click competitor name to see calculations.
| Liquidity ratio | Description | The company |
|---|---|---|
| Quick ratio | A liquidity ratio calculated as (cash plus short-term marketable investments plus receivables) divided by current liabilities. | UnitedHealth Group Inc. quick ratio improved from Q2 2023 to Q3 2023 but then deteriorated significantly from Q3 2023 to Q4 2023. |
Cash Ratio
UnitedHealth Group Inc., cash ratio calculation (quarterly data)
| 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 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||
| Cash and cash equivalents | 25,427) | 38,915) | 41,813) | 41,913) | 23,365) | 38,845) | 24,612) | 25,482) | 21,375) | 21,085) | 19,832) | 19,955) | 16,921) | 17,550) | 22,327) | 21,569) | 10,985) | 12,363) | 13,745) | 12,407) | ||||||
| Short-term investments | 4,201) | 5,182) | 4,466) | 4,584) | 4,546) | 3,682) | 3,352) | 2,914) | 2,532) | 2,786) | 2,729) | 2,962) | 2,860) | 3,259) | 3,266) | 2,876) | 3,260) | 3,455) | 3,524) | 3,303) | ||||||
| Assets under management | 3,755) | 3,616) | 3,623) | 3,837) | 4,087) | 4,022) | 4,017) | 4,155) | 4,449) | 4,304) | 4,198) | 4,094) | 4,076) | 3,788) | 3,417) | 2,866) | 3,076) | 3,051) | 2,943) | 2,951) | ||||||
| Total cash assets | 33,383) | 47,713) | 49,902) | 50,334) | 31,998) | 46,549) | 31,981) | 32,551) | 28,356) | 28,175) | 26,759) | 27,011) | 23,857) | 24,597) | 29,010) | 27,311) | 17,321) | 18,869) | 20,212) | 18,661) | ||||||
| Current liabilities | 99,054) | 114,179) | 112,981) | 116,482) | 89,237) | 100,935) | 88,698) | 88,170) | 78,292) | 79,575) | 76,557) | 80,641) | 72,420) | 66,597) | 69,883) | 78,606) | 61,782) | 62,641) | 62,328) | 58,933) | ||||||
| Liquidity Ratio | ||||||||||||||||||||||||||
| Cash ratio1 | 0.34 | 0.42 | 0.44 | 0.43 | 0.36 | 0.46 | 0.36 | 0.37 | 0.36 | 0.35 | 0.35 | 0.33 | 0.33 | 0.37 | 0.42 | 0.35 | 0.28 | 0.30 | 0.32 | 0.32 | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| Cash Ratio, Competitors2 | ||||||||||||||||||||||||||
| Abbott Laboratories | 0.53 | 0.54 | 0.57 | 0.66 | 0.66 | 0.74 | 0.75 | 0.65 | 0.78 | 0.75 | 0.71 | 0.67 | 0.60 | 0.46 | 0.46 | 0.34 | 0.38 | 0.41 | 0.37 | 0.36 | ||||||
| Cigna Group | 0.18 | 0.20 | 0.22 | 0.20 | 0.17 | 0.19 | 0.11 | 0.12 | 0.14 | 0.13 | 0.15 | 0.24 | 0.32 | 0.15 | 0.20 | 0.13 | 0.14 | 0.17 | 0.17 | 0.20 | ||||||
| CVS Health Corp. | 0.14 | 0.20 | 0.21 | 0.24 | 0.23 | 0.28 | 0.22 | 0.16 | 0.18 | 0.20 | 0.17 | 0.15 | 0.18 | 0.19 | 0.27 | 0.21 | 0.15 | 0.14 | 0.17 | 0.16 | ||||||
| Elevance Health Inc. | 0.87 | 0.90 | 0.92 | 0.91 | 0.86 | 0.87 | 0.86 | 0.86 | 0.95 | 0.97 | 0.97 | 1.08 | 1.04 | 1.04 | 1.10 | 0.95 | 1.08 | 1.14 | 1.07 | 1.04 | ||||||
| Humana Inc. | 1.13 | 1.09 | 1.11 | 1.06 | 1.10 | 1.07 | 1.02 | 1.02 | 1.08 | 1.20 | 1.12 | 1.12 | 1.29 | 1.39 | 1.22 | 1.16 | 1.37 | 1.44 | 1.28 | 1.15 | ||||||
| Intuitive Surgical Inc. | 3.15 | 3.86 | 3.77 | 3.59 | 2.90 | 3.50 | 3.78 | 3.58 | 3.66 | 3.98 | 4.42 | 5.04 | 5.30 | 5.27 | 4.85 | 3.44 | 3.13 | 3.11 | 3.37 | 3.79 | ||||||
| Medtronic PLC | 0.88 | 0.77 | 0.79 | 0.63 | 0.85 | 1.26 | 1.37 | 1.36 | 1.27 | 1.17 | 1.18 | 0.99 | 1.06 | 1.33 | 1.27 | 1.25 | 1.16 | 1.03 | 1.20 | 1.21 | ||||||
| Shockwave Medical Inc. | 9.51 | 11.73 | 3.22 | 2.94 | 4.80 | 4.62 | 3.40 | 3.94 | 3.89 | 4.54 | 4.85 | 5.30 | 7.91 | 10.19 | 13.04 | 9.08 | 8.14 | 5.88 | 8.13 | 9.45 | ||||||
Based on: 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), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
1 Q4 2023 Calculation
Cash ratio = Total cash assets ÷ Current liabilities
= 33,383 ÷ 99,054 = 0.34
2 Click competitor name to see calculations.
| Liquidity ratio | Description | The company |
|---|---|---|
| Cash ratio | A liquidity ratio calculated as (cash plus short-term marketable investments) divided by current liabilities. | UnitedHealth Group Inc. cash ratio deteriorated from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023. |