Is UnitedHealth Group Incorporated (UNH) Fairly Valued?
UnitedHealth Group Incorporated valuation review using P/E, fair value, revenue growth, EPS growth, net margin, and TGMCharts chart exhibits as of June 24, 2026.
By TGMCharts Research / 5 min read / Data as of / Updated
Valuation read
UnitedHealth Group Incorporated does not get a one-metric verdict. The stock trades at 30.65x trailing earnings and the TGMCharts fair-value model is $274, so the valuation read depends on whether growth and margins support that price.
The core evidence is the relationship between price, earnings, fair value, and business support. Five-year revenue CAGR is 11.33%, five-year EPS CAGR is -4.06%, and net margin is 2.68%. Those facts decide whether the multiple is defensible or stretched.
What to watch
- A material move away from the fair-value anchor of $274.
- A break in five-year EPS support, currently -4.06%.
- Margin quality drifting away from the latest net margin of 2.68%.
From the latest filing
10-Q · filed 2026-05-05 · period 2026-03-31 · SEC EDGAR source
- “These items increased operating costs by $415 million, partially offset by an increase to investment and other income of $74 million and decreased medical costs of $137 million on the Condensed Consolidated Statements of Operations.”
- “Consolidated revenues grew 2%, UnitedHealthcare revenues grew 2% and Optum revenues were consistent.”
- “Consolidated earnings from operations of $9.0 billion compared to $9.1 billion last year.”
- “Diluted earnings per common share were $6.90.”
Key takeaways
- -UnitedHealth Group Incorporated closed at $406 on June 24, 2026.
- -Trailing P/E is 30.65x and price-to-sales is 0.82x.
- -Model fair value is $274 with margin of safety at -32.43%.
- -Five-year revenue CAGR is 11.33% and five-year EPS CAGR is -4.06%.
- -Earnings yield is 3.26% and net margin is 2.68%.
Valuation snapshot
The market price, model anchor, growth support, and profitability facts behind the valuation read.
Executive Summary
UnitedHealth Group Incorporated should be read as a valuation question with a specific burden of proof: does the market price have enough earnings, growth, and margin support to justify the multiple? The stock closed at $406 on June 24, 2026, trades at 30.65x trailing earnings, and carries a TGMCharts model margin of safety of -32.43%.
The answer cannot come from one ratio. This note treats P/E, fair value, price-to-sales, earnings yield, revenue growth, EPS growth, and margin quality as a linked evidence set. If those lines reinforce each other, the valuation can be defended with more confidence; if they split, the final read has to stay cautious.
Price And Multiple Context
The price and multiple section asks what the market is paying before judging whether that price is justified. Price-to-sales is 0.82x and earnings yield is 3.26%, so the first chart group keeps the market price, P/E history, and sales multiple in the same frame rather than treating the headline P/E as the whole story.
Supporting exhibit 2
Exhibit: UNH price history
The price chart shows whether the valuation question is being driven by recent share-price movement.
Latest close: $406 as of June 24, 2026.
UNH Price Chart
The close at $406 is the market anchor for this note. The fair-value model sits at $274, so the price chart helps separate a business-quality question from a market-entry-price question.
Primary exhibit
Exhibit: UNH P/E ratio history
The trailing earnings multiple is the main valuation exhibit because it connects the market price to reported earnings.
Latest P/E ratio: 30.65x as of June 24, 2026.
UNH UNH P/E ratio Chart
The trailing earnings multiple is the main valuation exhibit because it connects the market price to reported earnings.
A P/E ratio of 30.65x has to be judged against the company's five-year EPS CAGR of -4.06%. If the multiple is high while EPS support is ordinary, the valuation thesis becomes more dependent on investor confidence than on fresh earnings power.
Supporting exhibit 3
Exhibit: UNH price-to-sales history
Price-to-sales gives a second valuation lens when margins and earnings can move around the cycle.
Latest price-to-sales ratio: 0.82x.
UNH UNH price-to-sales Chart
Price-to-sales gives a second valuation lens when margins and earnings can move around the cycle.
Price-to-sales at 0.82x is most useful beside net margin of 2.68%. A richer sales multiple is easier to defend when margin quality is durable rather than temporarily elevated.
Fair Value And Margin Of Safety
The fair-value section is the explicit counterweight to the market multiple. The stored model fair value is $274 and the margin of safety is -32.43%. That does not settle the case, but it tells the reader whether the valuation debate starts from a discount, a premium, or a narrow gap that needs business quality to carry more of the argument.
Valuation evidence table
A compact cross-check of price, model value, growth, and profitability support.
Counterpoint exhibit 4
Exhibit: UNH earnings yield history
Earnings yield reframes valuation from an owner's-yield perspective rather than a multiple perspective.
Latest earnings yield: 3.26%.
UNH UNH earnings yield Chart
Earnings yield reframes valuation from an owner's-yield perspective rather than a multiple perspective.
The earnings yield of 3.26% is the counterweight to the P/E ratio. If the yield is thin relative to the quality and growth profile, the valuation case needs more help from future compounding.
Growth Support
Growth support has to show up in both the top line and the per-share outcome. Five-year revenue CAGR is 11.33% and five-year EPS CAGR is -4.06%. The revenue and EPS exhibits sit here because this is where the valuation note decides whether the multiple is being supported by actual business expansion or mainly by investor willingness to pay more.
Supporting exhibit 5
Exhibit: UNH revenue history
Revenue history tests whether the valuation is being supported by real business expansion.
Five-year revenue CAGR: 11.33%.
UNH revenue
Revenue history tests whether the valuation is being supported by real business expansion.
Revenue growth is the business-expansion evidence behind the valuation read. A five-year revenue CAGR of 11.33% helps show how much of the valuation story is coming from company growth instead of only multiple expansion.
Supporting exhibit 6
Exhibit: UNH EPS history
EPS history checks whether reported earnings are keeping pace with the market multiple.
Five-year EPS CAGR: -4.06%.
UNH EPS
EPS history checks whether reported earnings are keeping pace with the market multiple.
A five-year EPS CAGR of -4.06% is the clearest support figure for a P/E-based conclusion. If EPS growth slows while the multiple remains elevated, the article should become more cautious after refresh.
Margin Quality
Margin quality is the bridge between sales growth and earnings value. Net margin is 2.68% and price-to-sales is 0.82x, so this section reads profitability beside the sales multiple. A richer sales multiple is easier to defend when profitability is durable. If margins are already elevated, the valuation read should leave room for pressure even when the recent earnings record looks strong.
Supporting exhibit 7
Exhibit: UNH net margin history
Net margin shows whether the company has enough profitability quality to support its valuation.
Latest net margin: 2.68%.
UNH net margin
Net margin shows whether the company has enough profitability quality to support its valuation.
Net margin of 2.68% is a quality signal, not a valuation verdict by itself. It matters because a premium multiple is more defensible when margins are structurally strong and less defensible when margins are peaking.
Bull/Bear Valuation Case
The bull case is that revenue growth, EPS growth, and margin quality continue to support the current multiple. The bear case is that the P/E ratio and fair-value gap ask too much of the business if growth slows or margins normalize. Keeping both cases visible prevents the valuation note from becoming either a price chart recap or a model-output recap.
Bull and bear case
Valuation support
- Five-year revenue CAGR of 11.33% and five-year EPS CAGR of -4.06% support the business case.
- Net margin of 2.68% is the quality check behind the multiple.
Valuation pressure
- A P/E ratio of 30.65x can become demanding if EPS growth slows.
- The model margin of safety at -32.43% should change the valuation read if it deteriorates after refresh.
What Would Change The View
The valuation read should change if the fair-value model moves, if the latest close moves materially away from $274, or if revenue and EPS growth break from the stored trend. The daily precompute is the source of truth for that refresh, and the published article should be held back or marked stale before the claim ledger drifts away from current fundamentals.
Final Research Read
The final read is that UnitedHealth Group Incorporated needs valuation support from more than one place: the market multiple, the fair-value model, growth, and margin quality all have to keep pointing in the same direction. This research insight is generated from precomputed TGMCharts fundamentals, internal chart routes, and resolved stat tokens. It is general research context only, not personalized investment advice or a buy or sell call.
Research trail
Continue through the source pages behind this research note.
FAQ
Is UNH fairly valued?
UnitedHealth Group Incorporated trades at 30.65x trailing earnings with a model margin of safety of -32.43%. The cleanest read comes from comparing that valuation to five-year revenue CAGR of 11.33% and five-year EPS CAGR of -4.06%.
What valuation metric matters most for UNH?
This article anchors on P/E, fair value, margin of safety, price-to-sales, earnings yield, revenue growth, and EPS growth. No single metric is treated as a recommendation.
How often should this UNH valuation view refresh?
The article should refresh after the daily TGMCharts precompute job because the stored close, fair value, and claim ledger are dated to June 24, 2026.
Claim ledger
Every numeric or dated claim in this note was resolved from precomputed TGMCharts data before publishing.
Research snapshot
Extractable thesis
UnitedHealth Group Incorporated does not get a one-metric verdict. The stock trades at 30.65x trailing earnings and the TGMCharts fair-value model is $274, so the valuation read depends on whether growth and margins support that price.
Data snapshot: 2026-06-24 / byline: TGMCharts Research / article status: published