Common Stock Valuation Ratios (Price Multiples)
Quarterly Data
Valuation ratios measure the quantity of an asset or flaw (e.g., earnings) associated with ownership of a specified claim (e.g., a share of ownership of the enterprise).
Historical Valuation Ratios (Summary)
UnitedHealth Group Inc., historical price multiples (quarterly data)
Based on: 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), 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).
Valuation ratio | Description | The company |
---|---|---|
P/E ratio | The P/E ratio tells analyst how much an investor in common stock pays per dollar of current earnings. | UnitedHealth Group Inc.’s P/E ratio decreased from Q1 2020 to Q2 2020 but then slightly increased from Q2 2020 to Q3 2020. |
P/OP ratio | Because P/E ratio is calculated using net income, the ratio can be sensitive to nonrecurring earnings and capital structure, analysts may use price to operating profit. | UnitedHealth Group Inc.’s P/OP ratio decreased from Q1 2020 to Q2 2020 but then slightly increased from Q2 2020 to Q3 2020. |
P/S ratio | An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative. | UnitedHealth Group Inc.’s P/S ratio increased from Q1 2020 to Q2 2020 and from Q2 2020 to Q3 2020. |
P/BV ratio | The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company’s required rate of return and its actual rate of return. | UnitedHealth Group Inc.’s P/BV ratio decreased from Q1 2020 to Q2 2020 but then slightly increased from Q2 2020 to Q3 2020. |
Price to Earnings (P/E)
UnitedHealth Group Inc., historical P/E calculation (quarterly data)
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 | Dec 31, 2015 | Sep 30, 2015 | Jun 30, 2015 | Mar 31, 2015 | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
No. shares of common stock outstanding1 | 948,820,710 | 950,335,762 | 948,379,502 | 948,573,372 | 947,414,929 | 947,680,609 | 950,343,113 | 959,538,515 | 962,034,200 | 962,473,363 | 960,981,242 | 967,662,919 | 969,067,449 | 966,859,926 | 963,661,565 | 951,165,192 | 951,816,220 | 952,391,411 | 950,804,129 | 950,673,998 | 953,108,435 | 953,562,580 | 951,904,261 | |||||||
Selected Financial Data (US$) | ||||||||||||||||||||||||||||||
Net earnings attributable to UnitedHealth Group common shareholders (in millions) | 3,172 | 6,637 | 3,382 | 3,541 | 3,538 | 3,293 | 3,467 | 3,040 | 3,188 | 2,922 | 2,836 | 3,617 | 2,485 | 2,284 | 2,172 | 1,684 | 1,968 | 1,754 | 1,611 | 1,218 | 1,597 | 1,585 | 1,413 | |||||||
Earnings per share (EPS)2 | 17.63 | 17.99 | 14.50 | 14.59 | 14.08 | 13.71 | 13.28 | 12.49 | 13.06 | 12.32 | 11.68 | 10.91 | 8.90 | 8.39 | 7.86 | 7.38 | 6.88 | 6.49 | 6.32 | 6.11 | 0.00 | 0.00 | 0.00 | |||||||
Share price1, 3 | 312.10 | 303.61 | 288.77 | 298.78 | 250.52 | 246.45 | 238.05 | 263.50 | 276.65 | 257.65 | 233.78 | 226.64 | 212.70 | 194.88 | 174.44 | 160.31 | 142.90 | 143.17 | 132.03 | 111.16 | 116.23 | 121.52 | 113.49 | |||||||
Valuation Ratio | ||||||||||||||||||||||||||||||
P/E ratio4 | 17.70 | 16.88 | 19.91 | 20.48 | 17.79 | 17.98 | 17.93 | 21.09 | 21.18 | 20.91 | 20.02 | 20.77 | 23.90 | 23.24 | 22.18 | 21.73 | 20.76 | 22.06 | 20.88 | 18.18 | — | — | — | |||||||
Benchmarks | ||||||||||||||||||||||||||||||
P/E Ratio, Competitors5 | ||||||||||||||||||||||||||||||
Becton, Dickinson & Co. | 95.62 | 75.45 | 90.00 | 65.09 | 83.38 | 66.87 | 72.88 | 408.36 | 105.60 | — | 206.04 | 49.63 | 59.56 | 30.05 | 28.94 | 36.65 | 32.09 | 43.18 | 41.64 | 45.52 | — | — | — | |||||||
Boston Scientific Corp. | 13.68 | 13.56 | 11.72 | 11.86 | 51.90 | 42.77 | 28.42 | 33.06 | 73.07 | 89.21 | 363.19 | 354.70 | 44.70 | 46.56 | 83.30 | 96.19 | 362.11 | — | — | — | — | — | — | |||||||
Danaher Corp. | 46.61 | 41.91 | 35.88 | 38.34 | 40.31 | 41.93 | 37.63 | 29.77 | 25.70 | 27.06 | 27.78 | 27.25 | 26.31 | 26.25 | 25.00 | 23.02 | 22.23 | 16.01 | 18.64 | 17.85 | — | — | — | |||||||
Edwards Lifesciences Corp. | 61.28 | 65.79 | 39.74 | 46.05 | 61.52 | 61.07 | 47.99 | 51.14 | 41.12 | 45.24 | 48.67 | 48.16 | 28.95 | 34.05 | 35.04 | 33.48 | — | — | — | — | — | — | — | |||||||
Intuitive Surgical Inc. | 82.17 | 70.73 | 44.28 | 48.72 | 49.80 | 51.02 | 53.16 | 53.03 | 73.32 | 73.33 | 69.50 | 70.95 | 45.87 | 42.21 | 38.18 | 37.16 | — | — | — | — | — | — | — | |||||||
Medtronic PLC | 25.38 | 31.86 | 32.75 | 28.78 | 25.11 | 57.38 | 41.16 | 37.80 | 37.82 | 21.55 | 26.35 | 29.96 | 28.24 | 23.20 | 32.64 | 33.17 | 43.49 | 47.09 | 37.49 | 40.56 | — | — | — | |||||||
Stryker Corp. | 43.23 | 45.35 | 31.33 | 39.24 | 23.72 | 22.60 | 19.64 | 18.96 | 48.55 | 58.86 | 62.59 | 54.36 | 33.60 | 32.52 | 29.96 | 27.92 | — | — | — | — | — | — | — | |||||||
Thermo Fisher Scientific Inc. | 38.43 | 44.19 | 35.50 | 33.36 | 33.89 | 31.08 | 35.11 | 35.19 | 36.71 | 39.27 | 37.52 | 37.66 | 33.39 | 30.36 | 30.83 | 30.45 | 29.02 | 31.09 | 29.03 | 26.19 | — | — | — |
Based on: 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), 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 Data adjusted for splits and stock dividends.
2 Q3 2020 Calculation
EPS
= (Net earnings attributable to UnitedHealth Group common shareholdersQ3 2020
+ Net earnings attributable to UnitedHealth Group common shareholdersQ2 2020
+ Net earnings attributable to UnitedHealth Group common shareholdersQ1 2020
+ Net earnings attributable to UnitedHealth Group common shareholdersQ4 2019)
÷ No. shares of common stock outstanding
= (3,172,000,000 + 6,637,000,000 + 3,382,000,000 + 3,541,000,000)
÷ 948,820,710 = 17.63
3 Closing price as at the filing date of UnitedHealth Group Inc.’s Quarterly or Annual Report.
4 Q3 2020 Calculation
P/E ratio = Share price ÷ EPS
= 312.10 ÷ 17.63 = 17.70
5 Click competitor name to see calculations.
Valuation ratio | Description | The company |
---|---|---|
P/E ratio | The P/E ratio tells analyst how much an investor in common stock pays per dollar of current earnings. | UnitedHealth Group Inc.’s P/E ratio decreased from Q1 2020 to Q2 2020 but then slightly increased from Q2 2020 to Q3 2020. |
Price to Operating Profit (P/OP)
UnitedHealth Group Inc., historical P/OP calculation (quarterly data)
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 | Dec 31, 2015 | Sep 30, 2015 | Jun 30, 2015 | Mar 31, 2015 | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
No. shares of common stock outstanding1 | 948,820,710 | 950,335,762 | 948,379,502 | 948,573,372 | 947,414,929 | 947,680,609 | 950,343,113 | 959,538,515 | 962,034,200 | 962,473,363 | 960,981,242 | 967,662,919 | 969,067,449 | 966,859,926 | 963,661,565 | 951,165,192 | 951,816,220 | 952,391,411 | 950,804,129 | 950,673,998 | 953,108,435 | 953,562,580 | 951,904,261 | |||||||
Selected Financial Data (US$) | ||||||||||||||||||||||||||||||
Earnings from operations (in millions) | 4,651 | 9,241 | 4,996 | 5,095 | 5,014 | 4,744 | 4,832 | 4,497 | 4,590 | 4,204 | 4,053 | 3,977 | 4,088 | 3,731 | 3,413 | 3,187 | 3,580 | 3,203 | 2,960 | 2,468 | 3,018 | 2,895 | 2,640 | |||||||
Operating profit per share2 | 25.28 | 25.62 | 20.93 | 20.75 | 20.15 | 19.69 | 19.07 | 18.08 | 17.49 | 16.96 | 16.49 | 15.72 | 14.88 | 14.39 | 13.89 | 13.59 | 12.83 | 12.23 | 11.93 | 11.59 | 0.00 | 0.00 | 0.00 | |||||||
Share price1, 3 | 312.10 | 303.61 | 288.77 | 298.78 | 250.52 | 246.45 | 238.05 | 263.50 | 276.65 | 257.65 | 233.78 | 226.64 | 212.70 | 194.88 | 174.44 | 160.31 | 142.90 | 143.17 | 132.03 | 111.16 | 116.23 | 121.52 | 113.49 | |||||||
Valuation Ratio | ||||||||||||||||||||||||||||||
P/OP ratio4 | 12.35 | 11.85 | 13.80 | 14.40 | 12.43 | 12.51 | 12.48 | 14.58 | 15.82 | 15.19 | 14.17 | 14.42 | 14.30 | 13.54 | 12.56 | 11.79 | 11.14 | 11.71 | 11.07 | 9.59 | — | — | — | |||||||
Benchmarks | ||||||||||||||||||||||||||||||
P/OP Ratio, Competitors5 | ||||||||||||||||||||||||||||||
Becton, Dickinson & Co. | 56.20 | 43.34 | 49.82 | 40.02 | 29.43 | 29.40 | 30.27 | 43.37 | 47.87 | 95.72 | 67.53 | 34.59 | 40.06 | 21.15 | 20.05 | 25.02 | 22.42 | 27.98 | 26.60 | 29.46 | — | — | — | |||||||
Boston Scientific Corp. | 630.22 | 80.81 | 44.72 | 36.71 | 34.77 | 36.58 | 31.15 | 36.68 | 32.51 | 31.09 | 30.63 | 28.71 | 34.07 | 34.07 | 69.95 | 74.67 | 814.74 | — | — | — | — | — | — | |||||||
Danaher Corp. | 46.28 | 43.09 | 35.22 | 34.47 | 29.97 | 30.85 | 26.85 | 23.18 | 20.95 | 21.72 | 22.58 | 22.48 | 22.35 | 21.13 | 20.83 | 21.37 | 18.48 | 18.09 | 19.87 | 17.27 | — | — | — | |||||||
Edwards Lifesciences Corp. | 56.78 | 61.66 | 35.77 | 42.04 | 57.30 | 56.37 | 47.70 | 49.37 | 26.74 | 28.00 | 25.96 | 25.66 | 22.59 | 26.24 | 26.76 | 25.38 | — | — | — | — | — | — | — | |||||||
Intuitive Surgical Inc. | 83.88 | 71.30 | 43.68 | 48.89 | 50.00 | 49.12 | 51.89 | 49.87 | 48.90 | 50.69 | 46.82 | 44.40 | 41.74 | 35.53 | 31.07 | 28.93 | — | — | — | — | — | — | — | |||||||
Medtronic PLC | 21.01 | 23.52 | 22.21 | 21.26 | 19.74 | 21.13 | 20.04 | 17.64 | 16.73 | 17.82 | 19.53 | 22.64 | 21.53 | 18.18 | 22.35 | 22.18 | 25.45 | 26.74 | 25.83 | 28.81 | — | — | — | |||||||
Stryker Corp. | 31.40 | 33.20 | 24.04 | 30.13 | 32.94 | 33.22 | 27.96 | 26.55 | 23.52 | 25.45 | 27.41 | 24.21 | 26.70 | 25.11 | 22.99 | 21.23 | — | — | — | — | — | — | — | |||||||
Thermo Fisher Scientific Inc. | 31.49 | 36.59 | 28.44 | 26.84 | 26.99 | 24.59 | 28.45 | 27.33 | 26.24 | 28.33 | 26.99 | 28.24 | 28.12 | 25.79 | 26.21 | 25.13 | 24.26 | 25.78 | 24.44 | 22.15 | — | — | — |
Based on: 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), 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 Data adjusted for splits and stock dividends.
2 Q3 2020 Calculation
Operating profit per share
= (Earnings from operationsQ3 2020
+ Earnings from operationsQ2 2020
+ Earnings from operationsQ1 2020
+ Earnings from operationsQ4 2019)
÷ No. shares of common stock outstanding
= (4,651,000,000 + 9,241,000,000 + 4,996,000,000 + 5,095,000,000)
÷ 948,820,710 = 25.28
3 Closing price as at the filing date of UnitedHealth Group Inc.’s Quarterly or Annual Report.
4 Q3 2020 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= 312.10 ÷ 25.28 = 12.35
5 Click competitor name to see calculations.
Valuation ratio | Description | The company |
---|---|---|
P/OP ratio | Because P/E ratio is calculated using net income, the ratio can be sensitive to nonrecurring earnings and capital structure, analysts may use price to operating profit. | UnitedHealth Group Inc.’s P/OP ratio decreased from Q1 2020 to Q2 2020 but then slightly increased from Q2 2020 to Q3 2020. |
Price to Sales (P/S)
UnitedHealth Group Inc., historical P/S calculation (quarterly data)
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 | Dec 31, 2015 | Sep 30, 2015 | Jun 30, 2015 | Mar 31, 2015 | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
No. shares of common stock outstanding1 | 948,820,710 | 950,335,762 | 948,379,502 | 948,573,372 | 947,414,929 | 947,680,609 | 950,343,113 | 959,538,515 | 962,034,200 | 962,473,363 | 960,981,242 | 967,662,919 | 969,067,449 | 966,859,926 | 963,661,565 | 951,165,192 | 951,816,220 | 952,391,411 | 950,804,129 | 950,673,998 | 953,108,435 | 953,562,580 | 951,904,261 | |||||||
Selected Financial Data (US$) | ||||||||||||||||||||||||||||||
Revenues (in millions) | 64,764 | 61,797 | 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 | |||||||
Sales per share2 | 264.63 | 259.07 | 257.73 | 253.30 | 251.08 | 247.09 | 241.90 | 234.35 | 227.18 | 220.74 | 214.91 | 206.82 | 201.89 | 198.24 | 195.26 | 193.46 | 189.28 | 184.14 | 173.68 | 164.51 | 0.00 | 0.00 | 0.00 | |||||||
Share price1, 3 | 312.10 | 303.61 | 288.77 | 298.78 | 250.52 | 246.45 | 238.05 | 263.50 | 276.65 | 257.65 | 233.78 | 226.64 | 212.70 | 194.88 | 174.44 | 160.31 | 142.90 | 143.17 | 132.03 | 111.16 | 116.23 | 121.52 | 113.49 | |||||||
Valuation Ratio | ||||||||||||||||||||||||||||||
P/S ratio4 | 1.18 | 1.17 | 1.12 | 1.18 | 1.00 | 1.00 | 0.98 | 1.12 | 1.22 | 1.17 | 1.09 | 1.10 | 1.05 | 0.98 | 0.89 | 0.83 | 0.75 | 0.78 | 0.76 | 0.68 | — | — | — | |||||||
Benchmarks | ||||||||||||||||||||||||||||||
P/S Ratio, Competitors5 | ||||||||||||||||||||||||||||||
Becton, Dickinson & Co. | 4.45 | 4.00 | 3.94 | 4.07 | 3.82 | 3.64 | 3.82 | 4.06 | 4.45 | 4.49 | 4.94 | 4.23 | 3.72 | 3.21 | 3.05 | 2.87 | 2.97 | 2.86 | 2.55 | 3.08 | — | — | — | |||||||
Boston Scientific Corp. | 4.99 | 5.31 | 4.66 | 5.19 | 5.44 | 5.92 | 5.14 | 5.62 | 5.06 | 4.89 | 4.39 | 4.08 | 4.27 | 4.21 | 4.22 | 3.98 | 3.59 | 4.08 | 3.86 | 3.13 | — | — | — | |||||||
Danaher Corp. | 8.15 | 7.48 | 6.34 | 6.29 | 5.32 | 5.43 | 4.67 | 3.97 | 3.62 | 3.74 | 3.77 | 3.70 | 3.52 | 3.32 | 3.35 | 3.48 | 3.05 | 2.94 | 3.34 | 2.91 | — | — | — | |||||||
Edwards Lifesciences Corp. | 11.14 | 11.32 | 9.82 | 11.09 | 11.46 | 11.17 | 9.61 | 9.92 | 8.06 | 8.37 | 7.91 | 8.18 | 6.51 | 7.55 | 7.31 | 6.43 | — | — | — | — | — | — | — | |||||||
Intuitive Surgical Inc. | 20.09 | 18.44 | 13.33 | 15.01 | 15.41 | 15.28 | 15.83 | 16.06 | 16.36 | 17.01 | 16.16 | 14.96 | 13.83 | 12.01 | 10.69 | 10.11 | — | — | — | — | — | — | — | |||||||
Medtronic PLC | 4.34 | 4.82 | 4.72 | 4.36 | 4.04 | 4.27 | 4.35 | 3.92 | 3.57 | 3.65 | 3.62 | 4.06 | 3.82 | 3.39 | 4.14 | 4.07 | 3.70 | 4.20 | 4.23 | 5.36 | — | — | — | |||||||
Stryker Corp. | 5.34 | 5.16 | 4.53 | 5.49 | 5.59 | 5.65 | 4.98 | 4.95 | 4.52 | 4.88 | 5.01 | 4.46 | 4.93 | 4.62 | 4.29 | 4.06 | — | — | — | — | — | — | — | |||||||
Thermo Fisher Scientific Inc. | 6.58 | 6.24 | 5.08 | 4.83 | 4.83 | 4.43 | 4.52 | 4.24 | 3.95 | 4.07 | 3.84 | 4.01 | 3.92 | 3.58 | 3.57 | 3.37 | 3.22 | 3.53 | 3.34 | 3.05 | — | — | — |
Based on: 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), 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 Data adjusted for splits and stock dividends.
2 Q3 2020 Calculation
Sales per share
= (RevenuesQ3 2020
+ RevenuesQ2 2020
+ RevenuesQ1 2020
+ RevenuesQ4 2019)
÷ No. shares of common stock outstanding
= (64,764,000,000 + 61,797,000,000 + 64,056,000,000 + 60,468,000,000)
÷ 948,820,710 = 264.63
3 Closing price as at the filing date of UnitedHealth Group Inc.’s Quarterly or Annual Report.
4 Q3 2020 Calculation
P/S ratio = Share price ÷ Sales per share
= 312.10 ÷ 264.63 = 1.18
5 Click competitor name to see calculations.
Valuation ratio | Description | The company |
---|---|---|
P/S ratio | An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative. | UnitedHealth Group Inc.’s P/S ratio increased from Q1 2020 to Q2 2020 and from Q2 2020 to Q3 2020. |
Price to Book Value (P/BV)
UnitedHealth Group Inc., historical P/BV calculation (quarterly data)
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 | Dec 31, 2015 | Sep 30, 2015 | Jun 30, 2015 | Mar 31, 2015 | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
No. shares of common stock outstanding1 | 948,820,710 | 950,335,762 | 948,379,502 | 948,573,372 | 947,414,929 | 947,680,609 | 950,343,113 | 959,538,515 | 962,034,200 | 962,473,363 | 960,981,242 | 967,662,919 | 969,067,449 | 966,859,926 | 963,661,565 | 951,165,192 | 951,816,220 | 952,391,411 | 950,804,129 | 950,673,998 | 953,108,435 | 953,562,580 | 951,904,261 | |||||||
Selected Financial Data (US$) | ||||||||||||||||||||||||||||||
Shareholders’ equity attributable to UnitedHealth Group (in millions) | 65,231 | 63,624 | 56,977 | 57,616 | 54,996 | 53,103 | 51,724 | 51,696 | 50,010 | 48,293 | 47,553 | 47,776 | 45,298 | 43,161 | 41,903 | 38,274 | 37,652 | 36,386 | 35,169 | 33,830 | 33,114 | 33,020 | 31,878 | |||||||
Book value per share (BVPS)2 | 68.75 | 66.95 | 60.08 | 60.74 | 58.05 | 56.03 | 54.43 | 53.88 | 51.98 | 50.18 | 49.48 | 49.37 | 46.74 | 44.64 | 43.48 | 40.24 | 39.56 | 38.20 | 36.99 | 35.59 | 34.74 | 34.63 | 33.49 | |||||||
Share price1, 3 | 312.10 | 303.61 | 288.77 | 298.78 | 250.52 | 246.45 | 238.05 | 263.50 | 276.65 | 257.65 | 233.78 | 226.64 | 212.70 | 194.88 | 174.44 | 160.31 | 142.90 | 143.17 | 132.03 | 111.16 | 116.23 | 121.52 | 113.49 | |||||||
Valuation Ratio | ||||||||||||||||||||||||||||||
P/BV ratio4 | 4.54 | 4.53 | 4.81 | 4.92 | 4.32 | 4.40 | 4.37 | 4.89 | 5.32 | 5.13 | 4.72 | 4.59 | 4.55 | 4.37 | 4.01 | 3.98 | 3.61 | 3.75 | 3.57 | 3.12 | 3.35 | 3.51 | 3.39 | |||||||
Benchmarks | ||||||||||||||||||||||||||||||
P/BV Ratio, Competitors5 | ||||||||||||||||||||||||||||||
Becton, Dickinson & Co. | 3.13 | 3.32 | 3.23 | 3.34 | 3.04 | 2.91 | 3.05 | 3.09 | 3.07 | 2.87 | 2.85 | 3.95 | 3.60 | 4.96 | 4.99 | 4.69 | 4.55 | 4.56 | 3.97 | 4.42 | 4.35 | 4.15 | 5.46 | |||||||
Boston Scientific Corp. | 3.24 | 3.46 | 3.64 | 4.02 | 5.83 | 6.33 | 5.53 | 6.33 | 5.91 | 6.00 | 5.79 | 5.26 | 4.97 | 5.07 | 5.14 | 4.96 | 4.52 | 5.22 | 4.58 | 3.70 | 3.92 | 3.56 | 3.57 | |||||||
Danaher Corp. | 4.38 | 3.90 | 3.68 | 3.72 | 3.02 | 3.19 | 2.88 | 2.80 | 2.56 | 2.65 | 2.61 | 2.58 | 2.47 | 2.35 | 2.42 | 2.56 | 2.39 | 2.24 | 2.70 | 2.53 | 2.79 | 2.53 | 2.57 | |||||||
Edwards Lifesciences Corp. | 11.56 | 12.74 | 11.29 | 11.62 | 12.48 | 12.65 | 10.65 | 11.76 | 8.72 | 9.39 | 8.40 | 9.51 | 6.82 | 8.30 | 8.39 | 7.28 | 7.64 | 9.86 | 9.78 | — | — | — | — | |||||||
Intuitive Surgical Inc. | 9.35 | 9.19 | 7.22 | 8.13 | 8.43 | 8.49 | 8.68 | 8.96 | 9.30 | 10.03 | 9.71 | 9.91 | 8.35 | 7.62 | 7.21 | 4.73 | 4.77 | 5.22 | 5.00 | — | — | — | — | |||||||
Medtronic PLC | 2.60 | 2.94 | 2.87 | 2.66 | 2.48 | 2.62 | 2.59 | 2.31 | 2.11 | 2.10 | 2.14 | 2.40 | 2.27 | 1.96 | 2.34 | 2.25 | 2.08 | 2.09 | 1.86 | 2.04 | 3.79 | 3.72 | 3.25 | |||||||
Stryker Corp. | 5.85 | 5.69 | 5.17 | 6.38 | 6.60 | 6.72 | 5.92 | 5.74 | 6.09 | 6.72 | 6.92 | 5.56 | 5.73 | 5.51 | 5.21 | 4.82 | 4.59 | 4.81 | 4.65 | — | — | — | — | |||||||
Thermo Fisher Scientific Inc. | 5.89 | 5.48 | 4.56 | 4.16 | 4.15 | 3.83 | 4.02 | 3.75 | 3.51 | 3.55 | 3.24 | 3.30 | 3.14 | 3.07 | 3.07 | 2.86 | 2.67 | 2.92 | 2.76 | 2.42 | 2.50 | 2.69 | 2.55 |
Based on: 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), 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 Data adjusted for splits and stock dividends.
2 Q3 2020 Calculation
BVPS = Shareholders’ equity attributable to UnitedHealth Group ÷ No. shares of common stock outstanding
= 65,231,000,000 ÷ 948,820,710 = 68.75
3 Closing price as at the filing date of UnitedHealth Group Inc.’s Quarterly or Annual Report.
4 Q3 2020 Calculation
P/BV ratio = Share price ÷ BVPS
= 312.10 ÷ 68.75 = 4.54
5 Click competitor name to see calculations.
Valuation ratio | Description | The company |
---|---|---|
P/BV ratio | The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company’s required rate of return and its actual rate of return. | UnitedHealth Group Inc.’s P/BV ratio decreased from Q1 2020 to Q2 2020 but then slightly increased from Q2 2020 to Q3 2020. |