Stock Analysis on Net
Stock Analysis on Net

UnitedHealth Group Inc. (NYSE:UNH)

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Analysis of Solvency Ratios
Quarterly Data

Microsoft Excel LibreOffice Calc

Solvency Ratios (Summary)

UnitedHealth Group Inc., solvency ratios (quarterly data)

Microsoft Excel LibreOffice Calc
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 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016
Debt Ratios
Debt to equity
Debt to capital
Debt to assets
Financial leverage
Coverage Ratios
Interest coverage

Based on: 10-Q (filing date: 2021-11-03), 10-Q (filing date: 2021-08-03), 10-Q (filing date: 2021-05-05), 10-K (filing date: 2021-03-01), 10-Q (filing date: 2020-11-02), 10-Q (filing date: 2020-08-03), 10-Q (filing date: 2020-05-06), 10-K (filing date: 2020-02-14), 10-Q (filing date: 2019-11-06), 10-Q (filing date: 2019-08-07), 10-Q (filing date: 2019-05-07), 10-K (filing date: 2019-02-12), 10-Q (filing date: 2018-11-08), 10-Q (filing date: 2018-08-07), 10-Q (filing date: 2018-05-07), 10-K (filing date: 2018-02-13), 10-Q (filing date: 2017-11-07), 10-Q (filing date: 2017-08-04), 10-Q (filing date: 2017-05-08), 10-K (filing date: 2017-02-08), 10-Q (filing date: 2016-11-08), 10-Q (filing date: 2016-08-02), 10-Q (filing date: 2016-05-04).

Solvency ratio Description The company
Debt to equity ratio A solvency ratio calculated as total debt divided by total shareholders’ equity. UnitedHealth Group Inc.’s debt to equity ratio deteriorated from Q1 2021 to Q2 2021 but then improved from Q2 2021 to Q3 2021 exceeding Q1 2021 level.
Debt to capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. UnitedHealth Group Inc.’s debt to capital ratio deteriorated from Q1 2021 to Q2 2021 but then improved from Q2 2021 to Q3 2021 exceeding Q1 2021 level.
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. UnitedHealth Group Inc.’s debt to assets ratio deteriorated from Q1 2021 to Q2 2021 but then improved from Q2 2021 to Q3 2021 exceeding Q1 2021 level.
Financial leverage ratio A solvency ratio calculated as total assets divided by total shareholders’ equity. UnitedHealth Group Inc.’s financial leverage ratio decreased from Q1 2021 to Q2 2021 and from Q2 2021 to Q3 2021.

Solvency ratio Description The company
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments. UnitedHealth Group Inc.’s interest coverage ratio deteriorated from Q1 2021 to Q2 2021 but then slightly improved from Q2 2021 to Q3 2021.

Debt to Equity

UnitedHealth Group Inc., debt to equity calculation (quarterly data)

Microsoft Excel LibreOffice Calc
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 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016
Selected Financial Data (US$ in millions)
Short-term borrowings and current maturities of long-term debt
Long-term debt, less current maturities
Total debt
 
Shareholders’ equity attributable to UnitedHealth Group
Solvency Ratio
Debt to equity1
Benchmarks
Debt to Equity, Competitors2
Abbott Laboratories
Anthem Inc.
Becton, Dickinson & Co.
Bristol-Myers Squibb Co.
CVS Health Corp.
Danaher Corp.
Edwards Lifesciences Corp.
HCA Healthcare Inc.
Intuitive Surgical Inc.
Medtronic PLC
Stryker Corp.

Based on: 10-Q (filing date: 2021-11-03), 10-Q (filing date: 2021-08-03), 10-Q (filing date: 2021-05-05), 10-K (filing date: 2021-03-01), 10-Q (filing date: 2020-11-02), 10-Q (filing date: 2020-08-03), 10-Q (filing date: 2020-05-06), 10-K (filing date: 2020-02-14), 10-Q (filing date: 2019-11-06), 10-Q (filing date: 2019-08-07), 10-Q (filing date: 2019-05-07), 10-K (filing date: 2019-02-12), 10-Q (filing date: 2018-11-08), 10-Q (filing date: 2018-08-07), 10-Q (filing date: 2018-05-07), 10-K (filing date: 2018-02-13), 10-Q (filing date: 2017-11-07), 10-Q (filing date: 2017-08-04), 10-Q (filing date: 2017-05-08), 10-K (filing date: 2017-02-08), 10-Q (filing date: 2016-11-08), 10-Q (filing date: 2016-08-02), 10-Q (filing date: 2016-05-04).

1 Q3 2021 Calculation
Debt to equity = Total debt ÷ Shareholders’ equity attributable to UnitedHealth Group
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to equity ratio A solvency ratio calculated as total debt divided by total shareholders’ equity. UnitedHealth Group Inc.’s debt to equity ratio deteriorated from Q1 2021 to Q2 2021 but then improved from Q2 2021 to Q3 2021 exceeding Q1 2021 level.

Debt to Capital

UnitedHealth Group Inc., debt to capital calculation (quarterly data)

Microsoft Excel LibreOffice Calc
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 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016
Selected Financial Data (US$ in millions)
Short-term borrowings and current maturities of long-term debt
Long-term debt, less current maturities
Total debt
Shareholders’ equity attributable to UnitedHealth Group
Total capital
Solvency Ratio
Debt to capital1
Benchmarks
Debt to Capital, Competitors2
Abbott Laboratories
Anthem Inc.
Becton, Dickinson & Co.
Bristol-Myers Squibb Co.
CVS Health Corp.
Danaher Corp.
Edwards Lifesciences Corp.
HCA Healthcare Inc.
Intuitive Surgical Inc.
Medtronic PLC
Stryker Corp.

Based on: 10-Q (filing date: 2021-11-03), 10-Q (filing date: 2021-08-03), 10-Q (filing date: 2021-05-05), 10-K (filing date: 2021-03-01), 10-Q (filing date: 2020-11-02), 10-Q (filing date: 2020-08-03), 10-Q (filing date: 2020-05-06), 10-K (filing date: 2020-02-14), 10-Q (filing date: 2019-11-06), 10-Q (filing date: 2019-08-07), 10-Q (filing date: 2019-05-07), 10-K (filing date: 2019-02-12), 10-Q (filing date: 2018-11-08), 10-Q (filing date: 2018-08-07), 10-Q (filing date: 2018-05-07), 10-K (filing date: 2018-02-13), 10-Q (filing date: 2017-11-07), 10-Q (filing date: 2017-08-04), 10-Q (filing date: 2017-05-08), 10-K (filing date: 2017-02-08), 10-Q (filing date: 2016-11-08), 10-Q (filing date: 2016-08-02), 10-Q (filing date: 2016-05-04).

1 Q3 2021 Calculation
Debt to capital = Total debt ÷ Total capital
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. UnitedHealth Group Inc.’s debt to capital ratio deteriorated from Q1 2021 to Q2 2021 but then improved from Q2 2021 to Q3 2021 exceeding Q1 2021 level.

Debt to Assets

UnitedHealth Group Inc., debt to assets calculation (quarterly data)

Microsoft Excel LibreOffice Calc
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 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016
Selected Financial Data (US$ in millions)
Short-term borrowings and current maturities of long-term debt
Long-term debt, less current maturities
Total debt
 
Total assets
Solvency Ratio
Debt to assets1
Benchmarks
Debt to Assets, Competitors2
Abbott Laboratories
Anthem Inc.
Becton, Dickinson & Co.
Bristol-Myers Squibb Co.
CVS Health Corp.
Danaher Corp.
Edwards Lifesciences Corp.
HCA Healthcare Inc.
Intuitive Surgical Inc.
Medtronic PLC
Stryker Corp.

Based on: 10-Q (filing date: 2021-11-03), 10-Q (filing date: 2021-08-03), 10-Q (filing date: 2021-05-05), 10-K (filing date: 2021-03-01), 10-Q (filing date: 2020-11-02), 10-Q (filing date: 2020-08-03), 10-Q (filing date: 2020-05-06), 10-K (filing date: 2020-02-14), 10-Q (filing date: 2019-11-06), 10-Q (filing date: 2019-08-07), 10-Q (filing date: 2019-05-07), 10-K (filing date: 2019-02-12), 10-Q (filing date: 2018-11-08), 10-Q (filing date: 2018-08-07), 10-Q (filing date: 2018-05-07), 10-K (filing date: 2018-02-13), 10-Q (filing date: 2017-11-07), 10-Q (filing date: 2017-08-04), 10-Q (filing date: 2017-05-08), 10-K (filing date: 2017-02-08), 10-Q (filing date: 2016-11-08), 10-Q (filing date: 2016-08-02), 10-Q (filing date: 2016-05-04).

1 Q3 2021 Calculation
Debt to assets = Total debt ÷ Total assets
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. UnitedHealth Group Inc.’s debt to assets ratio deteriorated from Q1 2021 to Q2 2021 but then improved from Q2 2021 to Q3 2021 exceeding Q1 2021 level.

Financial Leverage

UnitedHealth Group Inc., financial leverage calculation (quarterly data)

Microsoft Excel LibreOffice Calc
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 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016
Selected Financial Data (US$ in millions)
Total assets
Shareholders’ equity attributable to UnitedHealth Group
Solvency Ratio
Financial leverage1
Benchmarks
Financial Leverage, Competitors2
Abbott Laboratories
Anthem Inc.
Becton, Dickinson & Co.
Bristol-Myers Squibb Co.
CVS Health Corp.
Danaher Corp.
Edwards Lifesciences Corp.
HCA Healthcare Inc.
Intuitive Surgical Inc.
Medtronic PLC
Stryker Corp.

Based on: 10-Q (filing date: 2021-11-03), 10-Q (filing date: 2021-08-03), 10-Q (filing date: 2021-05-05), 10-K (filing date: 2021-03-01), 10-Q (filing date: 2020-11-02), 10-Q (filing date: 2020-08-03), 10-Q (filing date: 2020-05-06), 10-K (filing date: 2020-02-14), 10-Q (filing date: 2019-11-06), 10-Q (filing date: 2019-08-07), 10-Q (filing date: 2019-05-07), 10-K (filing date: 2019-02-12), 10-Q (filing date: 2018-11-08), 10-Q (filing date: 2018-08-07), 10-Q (filing date: 2018-05-07), 10-K (filing date: 2018-02-13), 10-Q (filing date: 2017-11-07), 10-Q (filing date: 2017-08-04), 10-Q (filing date: 2017-05-08), 10-K (filing date: 2017-02-08), 10-Q (filing date: 2016-11-08), 10-Q (filing date: 2016-08-02), 10-Q (filing date: 2016-05-04).

1 Q3 2021 Calculation
Financial leverage = Total assets ÷ Shareholders’ equity attributable to UnitedHealth Group
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Financial leverage ratio A solvency ratio calculated as total assets divided by total shareholders’ equity. UnitedHealth Group Inc.’s financial leverage ratio decreased from Q1 2021 to Q2 2021 and from Q2 2021 to Q3 2021.

Interest Coverage

UnitedHealth Group Inc., interest coverage calculation (quarterly data)

Microsoft Excel LibreOffice Calc
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 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016
Selected Financial Data (US$ in millions)
Net earnings attributable to UnitedHealth Group common shareholders
Add: Net income attributable to noncontrolling interest
Add: Income tax expense
Add: Interest expense
Earnings before interest and tax (EBIT)
Solvency Ratio
Interest coverage1
Benchmarks
Interest Coverage, Competitors2
Abbott Laboratories
Anthem Inc.
Becton, Dickinson & Co.
Danaher Corp.
HCA Healthcare Inc.
Medtronic PLC

Based on: 10-Q (filing date: 2021-11-03), 10-Q (filing date: 2021-08-03), 10-Q (filing date: 2021-05-05), 10-K (filing date: 2021-03-01), 10-Q (filing date: 2020-11-02), 10-Q (filing date: 2020-08-03), 10-Q (filing date: 2020-05-06), 10-K (filing date: 2020-02-14), 10-Q (filing date: 2019-11-06), 10-Q (filing date: 2019-08-07), 10-Q (filing date: 2019-05-07), 10-K (filing date: 2019-02-12), 10-Q (filing date: 2018-11-08), 10-Q (filing date: 2018-08-07), 10-Q (filing date: 2018-05-07), 10-K (filing date: 2018-02-13), 10-Q (filing date: 2017-11-07), 10-Q (filing date: 2017-08-04), 10-Q (filing date: 2017-05-08), 10-K (filing date: 2017-02-08), 10-Q (filing date: 2016-11-08), 10-Q (filing date: 2016-08-02), 10-Q (filing date: 2016-05-04).

1 Q3 2021 Calculation
Interest coverage = (EBITQ3 2021 + EBITQ2 2021 + EBITQ1 2021 + EBITQ4 2020) ÷ (Interest expenseQ3 2021 + Interest expenseQ2 2021 + Interest expenseQ1 2021 + Interest expenseQ4 2020)
= ( + + + ) ÷ ( + + + ) =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments. UnitedHealth Group Inc.’s interest coverage ratio deteriorated from Q1 2021 to Q2 2021 but then slightly improved from Q2 2021 to Q3 2021.