Microsoft Excel LibreOffice Calc

UnitedHealth Group Inc. (NYSE:UNH)


Analysis of Short-term (Operating) Activity Ratios
Quarterly Data

Beginner level


Short-term Activity Ratios (Summary)

UnitedHealth Group Inc., short-term (operating) activity ratios (quarterly data)

Microsoft Excel LibreOffice Calc
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 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015
Turnover Ratios
Receivables turnover 16.73 20.32 21.70 24.04 17.92 19.75 19.88 19.54 17.94 20.92 22.65 18.19 19.61 22.57 24.52 18.76 21.23 23.98
Payables turnover 8.21 8.51 8.76 8.64 8.36 8.67 8.44 8.42 8.09 8.63 8.38 8.32 8.21 8.63 8.48 8.20 8.06 8.38
Working capital turnover
Average No. Days
Average receivable collection period 22 18 17 15 20 18 18 19 20 17 16 20 19 16 15 19 17 15
Average payables payment period 44 43 42 42 44 42 43 43 45 42 44 44 44 42 43 44 45 44

Based on: 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), 10-K (filing date: 2016-02-09), 10-Q (filing date: 2015-11-05), 10-Q (filing date: 2015-07-29), 10-Q (filing date: 2015-05-06).

Short-term activity ratio Description The company
Receivables turnover An activity ratio equal to revenue divided by receivables. UnitedHealth Group Inc.’s receivables turnover ratio deteriorated from Q3 2019 to Q4 2019 and from Q4 2019 to Q1 2020.
Payables turnover An activity ratio calculated as cost of goods sold divided by payables. UnitedHealth Group Inc.’s payables turnover ratio decreased from Q3 2019 to Q4 2019 and from Q4 2019 to Q1 2020.
Working capital turnover An activity ratio calculated as revenue divided by working capital.

Short-term activity ratio Description The company
Average receivable collection period An activity ratio equal to the number of days in the period divided by receivables turnover. UnitedHealth Group Inc.’s number of days of receivables outstanding deteriorated from Q3 2019 to Q4 2019 and from Q4 2019 to Q1 2020.
Average payables payment period An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period. UnitedHealth Group Inc.’s number of days of payables outstanding increased from Q3 2019 to Q4 2019 and from Q4 2019 to Q1 2020.

Receivables Turnover

UnitedHealth Group Inc., receivables turnover calculation (quarterly data)

Microsoft Excel LibreOffice Calc
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 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015
Selected Financial Data (US$ in millions)
Revenues 64,056  60,468  59,885  60,013  59,903  58,076  56,174  55,731  54,890  51,763  50,075  49,797  48,501  47,274  46,102  46,292  44,344  43,419  41,319  36,049  35,610 
Accounts receivable, net 14,613  11,822  10,964  9,741  12,826  11,388  10,992  10,874  11,512  9,568  8,638  10,538  9,595  8,152  7,347  9,346  7,777  6,523  6,752  6,034  5,040 
Short-term Activity Ratio
Receivables turnover1 16.73 20.32 21.70 24.04 17.92 19.75 19.88 19.54 17.94 20.92 22.65 18.19 19.61 22.57 24.52 18.76 21.23 23.98
Benchmarks
Receivables Turnover, Competitors2
Becton, Dickinson & Co. 8.37 7.37 7.71 7.48 7.70 6.89 6.57 5.89 6.13 6.93 6.95 7.85 8.18 7.72 7.61 7.77 7.41 6.35 5.73 5.38 8.23
Boston Scientific Corp. 6.84 5.87 5.79 5.89 6.13 6.11 6.12 5.99 5.87 5.84 6.01 6.03 6.01 5.70 5.90 5.74 5.94 5.86
Danaher Corp. 5.25 5.61 5.70 5.63 5.70 5.70 5.90 5.85 5.75 5.20 5.48 5.42 5.66 5.30 5.90 4.77 5.11 5.19
Intuitive Surgical Inc. 8.73 6.94 6.65 6.38 7.03 5.46 6.15 6.49 6.95 6.11 6.40 5.97 6.74 6.29 6.07 6.27 7.51 6.05
Medtronic PLC 5.20 4.91 5.22 5.29 5.28 5.00 5.15 5.15 5.18 5.31 5.38 5.12 5.36 5.18 5.87 5.15 4.84 3.96 4.91 4.63 4.66
Stryker Corp. 5.65 5.14 5.97 5.90 6.08 5.83 6.39 6.24 6.04 5.66 6.17 6.28 6.29 5.76 6.04 5.96 6.32 5.98
Thermo Fisher Scientific Inc. 5.69 5.87 5.75 6.02 5.93 5.89 6.20 5.90 5.52 5.39 5.42 5.89 6.05 5.99 6.21 6.50 6.50 6.67

Based on: 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), 10-K (filing date: 2016-02-09), 10-Q (filing date: 2015-11-05), 10-Q (filing date: 2015-07-29), 10-Q (filing date: 2015-05-06).

1 Q1 2020 Calculation
Receivables turnover = (RevenuesQ1 2020 + RevenuesQ4 2019 + RevenuesQ3 2019 + RevenuesQ2 2019) ÷ Accounts receivable, net
= (64,056 + 60,468 + 59,885 + 60,013) ÷ 14,613 = 16.73

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Receivables turnover An activity ratio equal to revenue divided by receivables. UnitedHealth Group Inc.’s receivables turnover ratio deteriorated from Q3 2019 to Q4 2019 and from Q4 2019 to Q1 2020.

Payables Turnover

UnitedHealth Group Inc., payables turnover calculation (quarterly data)

Microsoft Excel LibreOffice Calc
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 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015
Selected Financial Data (US$ in millions)
Cost of revenues 48,687  45,787  45,668  46,782  46,320  44,580  42,876  42,898  42,047  39,686  38,269  38,438  37,755  36,004  35,165  35,978  34,307  34,437  31,718  27,137  26,789 
Medical costs payable 22,772  21,690  20,939  20,907  21,139  19,891  19,850  19,339  19,589  17,871  17,963  17,710  17,650  16,391  16,500  16,632  15,823  14,330  13,906  13,867  13,537 
Short-term Activity Ratio
Payables turnover1 8.21 8.51 8.76 8.64 8.36 8.67 8.44 8.42 8.09 8.63 8.38 8.32 8.21 8.63 8.48 8.20 8.06 8.38
Benchmarks
Payables Turnover, Competitors2
Boston Scientific Corp. 5.27 5.75 5.85 5.51 5.76 8.06 6.09 6.75 6.47 4.89 6.84 6.63 6.65 5.42 7.99 8.19 9.59 10.40
Danaher Corp. 4.55 5.23 5.46 5.24 5.13 5.13 5.49 5.33 5.27 5.39 5.31 5.49 5.46 5.08 6.15 4.45 4.86 4.78
Intuitive Surgical Inc. 10.69 11.08 9.80 9.52 8.96 11.12 11.08 10.07 10.18 11.33 11.26 11.62 11.26 11.89 13.24 12.35 13.83 15.33
Medtronic PLC 4.89 4.69 5.31 5.16 4.98 5.56 5.03 5.34 5.33 5.37 5.92 5.48 5.54 5.35 6.76 6.01 5.80 3.92 7.16 6.18 6.45
Stryker Corp. 7.08 7.69 7.74 8.00 7.74 7.22 8.09 8.01 8.28 8.77 8.97 9.48 8.82 8.76 8.70 8.21 8.42 8.16
Thermo Fisher Scientific Inc. 8.93 7.40 8.44 9.92 9.33 8.36 9.89 9.42 8.99 8.03 9.58 10.58 9.84 10.69 10.38 11.31 11.08 11.20

Based on: 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), 10-K (filing date: 2016-02-09), 10-Q (filing date: 2015-11-05), 10-Q (filing date: 2015-07-29), 10-Q (filing date: 2015-05-06).

1 Q1 2020 Calculation
Payables turnover = (Cost of revenuesQ1 2020 + Cost of revenuesQ4 2019 + Cost of revenuesQ3 2019 + Cost of revenuesQ2 2019) ÷ Medical costs payable
= (48,687 + 45,787 + 45,668 + 46,782) ÷ 22,772 = 8.21

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Payables turnover An activity ratio calculated as cost of goods sold divided by payables. UnitedHealth Group Inc.’s payables turnover ratio decreased from Q3 2019 to Q4 2019 and from Q4 2019 to Q1 2020.

Working Capital Turnover

UnitedHealth Group Inc., working capital turnover calculation (quarterly data)

Microsoft Excel LibreOffice Calc
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 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015
Selected Financial Data (US$ in millions)
Current assets 58,807  42,634  43,541  42,038  42,815  38,692  38,754  46,634  48,353  37,084  40,921  41,239  40,989  33,879  35,768  33,298  33,745  31,639  29,935  27,566  26,774 
Less: Current liabilities 78,606  61,782  62,641  62,328  58,933  53,209  56,377  62,052  67,667  50,463  58,088  57,121  57,543  49,252  51,096  47,376  46,285  42,898  39,953  35,741  34,978 
Working capital (19,799) (19,148) (19,100) (20,290) (16,118) (14,517) (17,623) (15,418) (19,314) (13,379) (17,167) (15,882) (16,554) (15,373) (15,328) (14,078) (12,540) (11,259) (10,018) (8,175) (8,204)
 
Revenues 64,056  60,468  59,885  60,013  59,903  58,076  56,174  55,731  54,890  51,763  50,075  49,797  48,501  47,274  46,102  46,292  44,344  43,419  41,319  36,049  35,610 
Short-term Activity Ratio
Working capital turnover1
Benchmarks
Working Capital Turnover, Competitors2
Becton, Dickinson & Co. 17.14 31.45 81.96 10.39 4.38 4.63 0.79 0.81 14.11 20.13 6.35 5.32 5.48 10.09 6.20 5.28 3.39 0.85
Boston Scientific Corp. 12.73 17.52 6.79 5.66 49.53 53.76 13.80 7.18
Danaher Corp. 6.74 0.87 1.37 2.97 3.56 8.83 8.29 8.36 7.15 8.91 9.52 8.49 54.35 10.51 5.95 8.16 12.34
Intuitive Surgical Inc. 1.23 1.23 1.25 1.24 1.17 1.06 1.01 1.04 1.18 1.49 1.29 1.41 1.73 1.02 1.10 1.08 1.25 1.40
Medtronic PLC 2.16 2.26 2.54 2.30 2.24 2.32 1.90 2.02 3.11 2.79 3.01 2.24 1.84 1.75 1.47 1.26 1.08 0.93 0.54 1.19 1.12
Stryker Corp. 2.28 2.14 3.13 3.35 3.32 2.76 3.53 3.87 4.17 2.76 2.72 2.43 2.21 2.40 2.51 2.48 1.24 2.24
Thermo Fisher Scientific Inc. 3.54 4.48 5.40 6.70 6.10 5.44 5.47 6.61 8.75 8.82 10.94 8.08 9.64 8.48 6.10 21.93 80.21 10.64

Based on: 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), 10-K (filing date: 2016-02-09), 10-Q (filing date: 2015-11-05), 10-Q (filing date: 2015-07-29), 10-Q (filing date: 2015-05-06).

1 Q1 2020 Calculation
Working capital turnover = (RevenuesQ1 2020 + RevenuesQ4 2019 + RevenuesQ3 2019 + RevenuesQ2 2019) ÷ Working capital
= (64,056 + 60,468 + 59,885 + 60,013) ÷ -19,799 =

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Working capital turnover An activity ratio calculated as revenue divided by working capital.

Average Receivable Collection Period

UnitedHealth Group Inc., average receivable collection period calculation (quarterly data)

Microsoft Excel LibreOffice Calc
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 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015
Selected Financial Data
Receivables turnover 16.73 20.32 21.70 24.04 17.92 19.75 19.88 19.54 17.94 20.92 22.65 18.19 19.61 22.57 24.52 18.76 21.23 23.98
Short-term Activity Ratio (no. days)
Average receivable collection period1 22 18 17 15 20 18 18 19 20 17 16 20 19 16 15 19 17 15
Benchmarks (no. days)
Average Receivable Collection Period, Competitors2
Becton, Dickinson & Co. 44 50 47 49 47 53 56 62 60 53 53 46 45 47 48 47 49 57 64 68 44
Boston Scientific Corp. 53 62 63 62 60 60 60 61 62 62 61 60 61 64 62 64 61 62
Danaher Corp. 69 65 64 65 64 64 62 62 63 70 67 67 65 69 62 76 71 70
Intuitive Surgical Inc. 42 53 55 57 52 67 59 56 52 60 57 61 54 58 60 58 49 60
Medtronic PLC 70 74 70 69 69 73 71 71 71 69 68 71 68 70 62 71 75 92 74 79 78
Stryker Corp. 65 71 61 62 60 63 57 58 60 64 59 58 58 63 60 61 58 61
Thermo Fisher Scientific Inc. 64 62 63 61 62 62 59 62 66 68 67 62 60 61 59 56 56 55

Based on: 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), 10-K (filing date: 2016-02-09), 10-Q (filing date: 2015-11-05), 10-Q (filing date: 2015-07-29), 10-Q (filing date: 2015-05-06).

1 Q1 2020 Calculation
Average receivable collection period = 365 ÷ Receivables turnover
= 365 ÷ 16.73 = 22

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Average receivable collection period An activity ratio equal to the number of days in the period divided by receivables turnover. UnitedHealth Group Inc.’s number of days of receivables outstanding deteriorated from Q3 2019 to Q4 2019 and from Q4 2019 to Q1 2020.

Average Payables Payment Period

UnitedHealth Group Inc., average payables payment period calculation (quarterly data)

Microsoft Excel LibreOffice Calc
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 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015
Selected Financial Data
Payables turnover 8.21 8.51 8.76 8.64 8.36 8.67 8.44 8.42 8.09 8.63 8.38 8.32 8.21 8.63 8.48 8.20 8.06 8.38
Short-term Activity Ratio (no. days)
Average payables payment period1 44 43 42 42 44 42 43 43 45 42 44 44 44 42 43 44 45 44
Benchmarks (no. days)
Average Payables Payment Period, Competitors2
Boston Scientific Corp. 69 64 62 66 63 45 60 54 56 75 53 55 55 67 46 45 38 35
Danaher Corp. 80 70 67 70 71 71 66 69 69 68 69 67 67 72 59 82 75 76
Intuitive Surgical Inc. 34 33 37 38 41 33 33 36 36 32 32 31 32 31 28 30 26 24
Medtronic PLC 75 78 69 71 73 66 73 68 68 68 62 67 66 68 54 61 63 93 51 59 57
Stryker Corp. 52 47 47 46 47 51 45 46 44 42 41 39 41 42 42 44 43 45
Thermo Fisher Scientific Inc. 41 49 43 37 39 44 37 39 41 45 38 35 37 34 35 32 33 33

Based on: 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), 10-K (filing date: 2016-02-09), 10-Q (filing date: 2015-11-05), 10-Q (filing date: 2015-07-29), 10-Q (filing date: 2015-05-06).

1 Q1 2020 Calculation
Average payables payment period = 365 ÷ Payables turnover
= 365 ÷ 8.21 = 44

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Average payables payment period An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period. UnitedHealth Group Inc.’s number of days of payables outstanding increased from Q3 2019 to Q4 2019 and from Q4 2019 to Q1 2020.