UnitedHealth Group Incorporated (UNH) P/E Ratio History
Historical price-to-earnings valuation from 1990 to 2025
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Valuation Context
How does the current P/E compare to historical and market benchmarks?
P/E Ratio Analysis
As of February 28, 2026, UnitedHealth Group Incorporated (UNH) trades at a price-to-earnings ratio of 18.8x, with a stock price of $293.27 and trailing twelve-month earnings per share of $15.63.
The current P/E is 25% below its 5-year average of 25.0x. Over the past five years, UNH's P/E has ranged from a low of 13.5x to a high of 38.1x, placing the current valuation at the 10th percentile of its historical range.
Compared to the Healthcare sector median P/E of 23.7x, UNH trades at a 21% discount to its sector peers. The sector includes 224 companies with P/E ratios ranging from 0.0x to 184.4x.
Relative to the broader market, UNH trades at a notable discount to the S&P 500 median P/E of 26.2x. Investors should consider the company's growth prospects, competitive position, and earnings quality when evaluating whether the current valuation is justified.
For a comprehensive intrinsic value estimate using discounted cash flow analysis, see our UNH DCF Valuation Calculator →
Note: P/E ratio is just one valuation metric. It does not account for balance sheet strength, cash flow quality, or growth sustainability. Always conduct comprehensive due diligence before making investment decisions.
Peer Comparison
P/E metrics vs. Vertically Integrated Payer-PBM Platforms peers
| Company | Market Cap | P/E Ratio | PEG Ratio | EPS Growth (1Y) |
|---|---|---|---|---|
UNHUnitedHealth Group Incorporated | $266B | 18.8Lowest | -Best | +0%Best |
CVSCVS Health Corporation | $102B | 57.5 | -Best | -62% |
CICigna Corporation | $76B | 23.9 | -Best | -30% |
Peers sorted by market capitalization. P/E below peers may indicate undervaluation or lower growth expectations. Consider PEG ratio for growth-adjusted comparison.
Historical P/E Data
Quarterly P/E ratios calculated from closing price and TTM EPS
| Quarter | Date | Price | TTM EPS | P/E Ratio | vs Avg |
|---|---|---|---|---|---|
| FY2025 Q4 | Wed Dec 31 2025 00:00:00 GM | $330.11 | $15.58 | 21.2x | +4% |
| FY2025 Q3 | $345.30 | $19.16 | 18.0x | -12% | |
| FY2025 Q2 | Mon Jun 30 2025 00:00:00 GM | $311.97 | $23.08 | 13.5x | -34% |
| FY2025 Q1 | Mon Mar 31 2025 00:00:00 GM | $523.75 | $23.88 | 21.9x | +8% |
| FY2024 Q4 | $505.86 | $15.50 | 32.6x | +60% | |
| FY2024 Q3 | Mon Sep 30 2024 00:00:00 GM | $584.68 | $15.35 | 38.1x | +87% |
| FY2024 Q2 | Sun Jun 30 2024 00:00:00 GM | $509.26 | $15.08 | 33.8x | +66% |
| FY2024 Q1 | Sun Mar 31 2024 00:00:00 GM | $494.70 | $16.36 | 30.2x | +48% |
| FY2023 Q4 | Sun Dec 31 2023 00:00:00 GM | $526.47 | $23.84 | 22.1x | +8% |
| FY2023 Q3 | Sat Sep 30 2023 00:00:00 GM | $504.19 | $23.04 | 21.9x | +7% |
| FY2023 Q2 | Fri Jun 30 2023 00:00:00 GM | $480.64 | $22.35 | 21.5x | +5% |
| FY2023 Q1 | Fri Mar 31 2023 00:00:00 GM | $472.59 | $21.87 | 21.6x | +6% |
Average P/E for displayed period: 20.4x
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Start ComparisonFrequently Asked Questions
Is UNH stock overvalued or undervalued?
UNH trades at 18.8x P/E, below its 5-year average of 25.0x. At the 10th percentile of historical range, the stock is priced at a discount to its own history.
How does UNH's valuation compare to peers?
UnitedHealth Group Incorporated P/E of 18.8x compares to sector median of 23.7x. The discount suggests lower growth expectations or higher risk.
What is UNH's PEG ratio?
UNH PEG ratio is N/A. Above 2.0 indicates premium valuation relative to growth rate. Historical P/E data spans 1990-2025.