--- title: UnitedHealth (UNH) — intrinsic value and fair price canonical: https://sweetvaluelab.com/stocks/unh ticker: UNH as_of: 2026-10-18 sector: Healthcare industry: Medical - Healthcare Plans --- # UnitedHealth (UNH) UnitedHealth (UNH) closed at $401.43 on Oct 16, 2026, overvalued by 19% vs its model value of $336.30 (from a five-year discounted cash flow). ## Key figures | Figure | Value | | --- | ---: | | Last close | $401.43 (Oct 16, 2026) | | Model value (from a five-year discounted cash flow) | $336.30 | | Price vs model | overvalued by 19% vs model | | Range of that model | $198.39 – $885.51 | | Market value | $360.3B | | P/E (fiscal 2025) | 30.3 | | Net margin (fiscal 2025) | 2.7% | | Free cash flow (fiscal 2025) | $16.1B | | Dividend yield (trailing twelve months) | 2.26% | | Beta | 0.61 | | Cost of capital (WACC) | 7.50% | | Business classification | Dividend Payer (Low/slowing growth (~10% recent), Thin margins (2.7% net margin), Pays dividends, Highly cyclical earnings) | ## On the stock lists | List | Place | Figure | Page | | --- | ---: | ---: | --- | | Largest companies | #30 | $360.3B | https://sweetvaluelab.com/lists/largest-companies | ## Dividends | Figure | Value | | --- | ---: | | Trailing dividend yield | 2.26% | | Dividends per share, last 12 months | $9.06 | | Dividends / free cash flow (fiscal 2025) | 49.2% | | Raised | 16 years in a row | | Growth over 5 years | 10.9% a year | | Latest payment | $2.32, ex-date Sep 14, 2026, paid Sep 22, 2026 | | Year of payments | Dividends per share | | --- | ---: | | To Sep 10, 2021 | $5.40 | | To Sep 9, 2022 | $6.20 | | To Sep 8, 2023 | $7.06 | | To Sep 16, 2024 | $7.96 | | To Sep 15, 2025 | $8.62 | | Trailing twelve months (to Sep 14, 2026) | $9.06 | ## Valuation models Each model's value per share and the role the engine gave it for this business. The headline above is one model's value; every other model is listed with its own, and each has a page of its own under the valuation. Computed Oct 18, 2026. | Model | Role | Value per share | Low | High | | --- | --- | ---: | ---: | ---: | | DCF · Perpetuity growth · 5y | primary | $336.30 | $198.39 | $885.51 | | DCF · Perpetuity growth · 10y | cross check | $375.77 | $229.85 | $948.06 | | DCF · EBITDA exit · 5y | cross check | $419.54 | $296.59 | $564.18 | | DCF · EBITDA exit · 10y | cross check | $448.38 | $308.42 | $634.31 | | P/E · peers | cross check | $333.52 | $229.34 | $897.51 | | P/E · own history | cross check | $413.31 | $368.99 | $478.02 | | PEG | sanity check | $477.47 | $477.47 | $477.47 | | EV/EBITDA · peers | cross check | $334.44 | $289.06 | $411.93 | | EV/Revenue · peers | cross check | $138.59 | $122.37 | $189.56 | | Earnings power value | cross check | $311.69 | $249.85 | $404.47 | | Dividend discount | cross check | $267.38 | $179.77 | $420.30 | ## Insider activity (SEC Form 4) Past 90 days: 0 open-market buys ($0) and 2 open-market sales ($660,910); 10b5-1 plan sales included. | Date | Insider | Relationship | Transaction | Shares | Value | | --- | --- | --- | --- | ---: | ---: | | Oct 1, 2026 | Noseworthy John H | Director | Grant / award | 240 | $0 | | Oct 1, 2026 | MONTGOMERY RICE VALERIE MD | Director | Grant / award | 257 | $0 | | Oct 1, 2026 | MCNABB FREDERICK WILLIAM III | Director | Grant / award | 291 | $0 | | Oct 1, 2026 | Gottlieb Scott | Director | Grant / award | 257 | $0 | | Oct 1, 2026 | Gil Kristen | Director | Grant / award | 240 | $0 | ## Recent SEC filings | Filed | Form | What | Filing | | --- | --- | --- | --- | | Oct 13, 2026 | 8-K | 2.02 Results of Operations (Earnings); 9.01 Financial Statements and Exhibits | https://www.sec.gov/Archives/edgar/data/731766/000073176626000255/unh-20261013.htm | | Sep 8, 2026 | 8-K | 7.01 Regulation FD Disclosure | https://www.sec.gov/Archives/edgar/data/731766/000073176626000205/unh-20260908.htm | | Aug 10, 2026 | 10-Q | Quarterly report | https://www.sec.gov/Archives/edgar/data/731766/000073176626000197/unh-20260630.htm | | Jul 16, 2026 | 8-K | 2.02 Results of Operations (Earnings); 9.01 Financial Statements and Exhibits | https://www.sec.gov/Archives/edgar/data/731766/000073176626000191/unh-20260716.htm | | Jun 5, 2026 | 8-K | 5.07 Submission of Matters to a Shareholder Vote | https://www.sec.gov/Archives/edgar/data/731766/000073176626000138/unh-20260601.htm | ## Superinvestors holding it (latest 13F) | Manager | Quarter | Shares | Value | | --- | --- | ---: | ---: | | Dodge & Cox | 2026-06-30 | 9,072,258 | $3.8B | | Christopher Davis | 2026-06-30 | 1,274,650 | $529.8M | | Ruane Cunniff | 2026-06-30 | 705,554 | $293.2M | | Mairs & Power | 2026-06-30 | 559,951 | $232.7M | 20 tracked managers in all. ## About UnitedHealth Group Incorporated (UNH) operates as a comprehensive healthcare enterprise across the United States, structuring its diverse services into four key divisions: UnitedHealthcare, Optum Health, Optum Insight, and Optum Rx. The UnitedHealthcare segment provides a wide array of health benefit plans and consumer-focused services. These offerings cater to a broad spectrum of clients, including large national corporations, public sector employers, mid-sized and small businesses, and individual consumers. It also delivers specialized health coverage and wellness programs tailored for individuals aged 50 and older, addressing their needs for preventive and acute care, chronic disease management, and other age-specific health issues. This division further encompasses Medicaid plans, children's health insurance, dental benefits, and various hospital and clinical services. Optum Health f… --- Source: https://sweetvaluelab.com/stocks/unh (SweetValueLab, free, no account). Prices and statements from Financial Modeling Prep; filings from SEC EDGAR. Research and educational data, not investment advice; nothing here is a recommendation to buy, sell or hold any security.