Will UnitedHealth Stock Recover?
Shares of embattled health insurance giant UnitedHealth (NYSE:UNH) plummeted by…
| Period Ending | 2020-12-31 | 2021-12-31 | 2022-12-31 | 2023-12-31 | 2024-12-31 | |
|---|---|---|---|---|---|---|
| Revenue | -- | -- | $580K | $175K | $250K | |
| Revenue Growth (YoY) | -- | -- | -- | -69.83% | 42.86% | |
| Cost of Revenues | -- | -- | $13.7M | $50.8M | $81.7M | |
| Gross Profit | -- | -- | -$13.1M | -$50.7M | -$81.4M | |
| Gross Profit Margin | -- | -- | -2255.52% | -28954.86% | -32561.6% | |
| R&D Expenses | -- | -- | $19M | $41.1M | $65.8M | |
| Selling, General & Admin | -- | $697.1K | $18M | $56.9M | $34.1M | |
| Other Inc / (Exp) | -- | -- | $38K | -- | -$25.3M | |
| Operating Expenses | -- | $697.1K | $36.9M | $97.9M | $99.9M | |
| Operating Income | -- | -$697.1K | -$50M | -$148.6M | -$181.3M | |
| Net Interest Expenses | -- | -- | $4.8M | -- | -- | |
| EBT. Incl. Unusual Items | -- | -$10.2M | -$54.8M | -$181.7M | -$175.2M | |
| Earnings of Discontinued Ops. | -- | -- | -- | -- | -- | |
| Income Tax Expense | -- | -- | -- | -$5.7M | -$10.6M | |
| Net Income to Company | -- | -$10.2M | -$54.8M | -$176M | -$280.1M | |
| Minority Interest in Earnings | -- | -$391.9K | -- | -$98.8M | -$115.5M | |
| Net Income to Common Excl Extra Items | -- | -$10.2M | -$54.8M | -$176M | -$164.6M | |
| Basic EPS (Cont. Ops) | -- | -$0.23 | -$0.77 | -$1.08 | -$0.67 | |
| Diluted EPS (Cont. Ops) | -- | -$0.23 | -$0.77 | -$1.08 | -$0.67 | |
| Weighted Average Basic Share | -- | $43.1M | $71.3M | $71.3M | $73.4M | |
| Weighted Average Diluted Share | -- | $43.1M | $71.3M | $71.3M | $73.4M | |
| EBITDA | -- | -$697.1K | -$36.6M | -$97.8M | -$99.7M | |
| EBIT | -- | -$697.1K | -$50M | -$148.6M | -$181.3M | |
| Revenue (Reported) | -- | -- | $580K | $175K | $250K | |
| Operating Income (Reported) | -- | -$697.1K | -$50M | -$148.6M | -$181.3M | |
| Operating Income (Adjusted) | -- | -$697.1K | -$50M | -$148.6M | -$181.3M | |
| Period Ending | 2021-09-30 | 2022-09-30 | 2023-09-30 | 2024-09-30 | 2025-09-30 | |
|---|---|---|---|---|---|---|
| Revenue | -- | $141K | -- | $12K | -- | |
| Revenue Growth (YoY) | -- | -- | -100% | -- | -100% | |
| Cost of Revenues | -- | $3.4M | $20.1M | $20.2M | $15.6M | |
| Gross Profit | -- | -$3.2M | -$20.1M | -$20.2M | -$15.6M | |
| Gross Profit Margin | -- | -2292.91% | -- | -168325% | -- | |
| R&D Expenses | -- | $4.8M | $9.6M | $17.6M | $34.6M | |
| Selling, General & Admin | -- | -- | -- | $9.5M | $10.5M | |
| Other Inc / (Exp) | -$5.3M | $34K | -$140M | $27.7M | -- | |
| Operating Expenses | $261.9K | $9M | $18.6M | $27M | $45.1M | |
| Operating Income | -$261.9K | -$12.3M | -$38.7M | -$47.2M | -$60.7M | |
| Net Interest Expenses | -- | -- | -- | -- | -- | |
| EBT. Incl. Unusual Items | -$5.6M | -$12.2M | -$92M | -$11.6M | -$1.2B | |
| Earnings of Discontinued Ops. | -- | -- | -- | -- | -- | |
| Income Tax Expense | -- | -- | -$10K | -$4.7M | -$1.2M | |
| Net Income to Company | -$5.6M | -$12.2M | -$92M | -$6.8M | -$1.2B | |
| Minority Interest in Earnings | -$214.1K | -- | -$61.4M | -$7.6M | -$748.3M | |
| Net Income to Common Excl Extra Items | -$5.6M | -$12.2M | -$92M | -$6.8M | -$1.2B | |
| Basic EPS (Cont. Ops) | -$0.12 | -$10.69 | -$0.44 | $0.01 | -$5.28 | |
| Diluted EPS (Cont. Ops) | -$0.12 | -$10.69 | -$0.44 | $0.01 | -$5.28 | |
| Weighted Average Basic Share | $43.1M | $1.1M | $69M | $73.5M | $77.9M | |
| Weighted Average Diluted Share | $43.1M | $1.1M | $69M | $73.5M | $77.9M | |
| EBITDA | -$261.9K | -$8.9M | -$18.6M | -$27M | -$45.1M | |
| EBIT | -$261.9K | -$12.3M | -$38.7M | -$47.2M | -$60.7M | |
| Revenue (Reported) | -- | $141K | -- | $12K | -- | |
| Operating Income (Reported) | -$261.9K | -$12.3M | -$38.7M | -$47.2M | -$60.7M | |
| Operating Income (Adjusted) | -$261.9K | -$12.3M | -$38.7M | -$47.2M | -$60.7M | |
| Period Ending | 2021-09-30 | 2022-09-30 | 2023-09-30 | 2024-09-30 | 2025-09-30 | |
|---|---|---|---|---|---|---|
| Revenue | -- | $349K | $181K | $250K | -- | |
| Revenue Growth (YoY) | -- | -- | -- | -- | -- | |
| Cost of Revenues | -- | $6.9M | $34.2M | $80.4M | $80.3M | |
| Gross Profit | -- | -$6.5M | -$34M | -$80.1M | -$80.3M | |
| Gross Profit Margin | -- | -- | -- | -- | -- | |
| R&D Expenses | -- | -- | $36.4M | $55.5M | $135.8M | |
| Selling, General & Admin | -- | -- | -- | $9.5M | $66.5M | |
| Other Inc / (Exp) | -$11.6M | $12.6M | -$140M | $116.9M | -- | |
| Operating Expenses | -- | $20.1M | $88.3M | $91.2M | $180M | |
| Operating Income | -- | -$26.6M | -$122.3M | -$171.3M | -$260.3M | |
| Net Interest Expenses | -- | $32K | $3.4M | -- | -- | |
| EBT. Incl. Unusual Items | -$12M | -$6.6M | -$254.9M | -$21.1M | -$1.7B | |
| Earnings of Discontinued Ops. | -- | -- | -- | -- | -- | |
| Income Tax Expense | -- | -- | -$682K | -$16.2M | -$1.8M | |
| Net Income to Company | -- | -$35.5M | -$254.2M | -$4.9M | -$1.8B | |
| Minority Interest in Earnings | -$462.4K | $746.3K | -$137M | -$12.6M | -$1.1B | |
| Net Income to Common Excl Extra Items | -- | -$6.6M | -$254.2M | -$4.9M | -$1.7B | |
| Basic EPS (Cont. Ops) | -- | -$13.96 | -$1.70 | $0.11 | -$7.64 | |
| Diluted EPS (Cont. Ops) | -$0.12 | -$13.96 | -$1.70 | $0.11 | -$7.64 | |
| Weighted Average Basic Share | ||||||
| Weighted Average Diluted Share | ||||||
| EBITDA | -- | -$19.9M | -$88.1M | -$91M | -$180M | |
| EBIT | -- | -$26.6M | -$122.3M | -$171.3M | -$260.3M | |
| Revenue (Reported) | -- | $349K | $181K | $250K | -- | |
| Operating Income (Reported) | -- | -$26.6M | -$122.3M | -$171.3M | -$260.3M | |
| Operating Income (Adjusted) | -- | -$26.6M | -$122.3M | -$171.3M | -$260.3M | |
| Period Ending | 2022-09-30 | 2023-09-30 | 2024-09-30 | 2025-09-30 | 2026-09-30 | |
|---|---|---|---|---|---|---|
| Revenue | $349K | $175K | $250K | -- | -- | |
| Revenue Growth (YoY) | -- | -- | -- | -- | -- | |
| Cost of Revenues | $6.9M | $30.8M | $60.3M | $58.9M | -- | |
| Gross Profit | -$6.5M | -$30.6M | -$60.1M | -$58.9M | -- | |
| Gross Profit Margin | -- | -- | -- | -- | -- | |
| R&D Expenses | $9.6M | $30.2M | $45.5M | $115.5M | -- | |
| Selling, General & Admin | -- | -- | $9.5M | $57.7M | -- | |
| Other Inc / (Exp) | $17.9M | -$140M | $29.4M | -$320.4M | -- | |
| Operating Expenses | $19.8M | $77.5M | $70.8M | $150.9M | -- | |
| Operating Income | -$26.3M | -$108.2M | -$130.9M | -$209.9M | -- | |
| Net Interest Expenses | $32K | $30K | -- | -- | -- | |
| EBT. Incl. Unusual Items | -$8.4M | -$237.4M | -$76.8M | -$1.6B | -- | |
| Earnings of Discontinued Ops. | -- | -- | -- | -- | -- | |
| Income Tax Expense | -- | -$682K | -$11.1M | -$2.4M | -- | |
| Net Income to Company | -$37.3M | -$236.7M | -$65.7M | -$1.6B | -- | |
| Minority Interest in Earnings | $675.9K | -$137M | -$50.8M | -$1.1B | -- | |
| Net Income to Common Excl Extra Items | -$8.4M | -$236.7M | -$65.7M | -$1.6B | -- | |
| Basic EPS (Cont. Ops) | -$14.00 | -$1.45 | -$0.21 | -$7.20 | -- | |
| Diluted EPS (Cont. Ops) | -$14.00 | -$1.45 | -$0.21 | -$7.20 | -- | |
| Weighted Average Basic Share | $48M | $208.3M | $217.6M | $232.6M | -- | |
| Weighted Average Diluted Share | $48M | $208.3M | $217.6M | $232.6M | -- | |
| EBITDA | -$19.7M | -$77.4M | -$70.6M | -$150.9M | -- | |
| EBIT | -$26.3M | -$108.2M | -$130.9M | -$209.9M | -- | |
| Revenue (Reported) | $349K | $175K | $250K | -- | -- | |
| Operating Income (Reported) | -$26.3M | -$108.2M | -$130.9M | -$209.9M | -- | |
| Operating Income (Adjusted) | -$26.3M | -$108.2M | -$130.9M | -$209.9M | -- | |
| Period Ending | 2020-12-31 | 2021-12-31 | 2022-12-31 | 2023-12-31 | 2024-12-31 | |
|---|---|---|---|---|---|---|
| Cash and Equivalents | -- | $2.6M | $5.2M | $636.9M | $507.6M | |
| Short Term Investments | -- | -- | -- | $100M | $178.3M | |
| Accounts Receivable, Net | -- | -- | $352K | $58K | -- | |
| Inventory | -- | -- | -- | -- | -- | |
| Prepaid Expenses | -- | $746.7K | $184K | $1.8M | -- | |
| Other Current Assets | -- | -- | $1.8M | $1.9M | $1.8M | |
| Total Current Assets | -- | $3.3M | $7.5M | $640.8M | $513M | |
| Property Plant And Equipment | -- | -- | $70.4M | $99.1M | $154.2M | |
| Long-Term Investments | -- | $345M | -- | -- | $25.1M | |
| Goodwill | -- | -- | -- | $423.9M | $359.8M | |
| Other Intangibles | -- | -- | $263K | $1.3B | $1.2B | |
| Other Long-Term Assets | -- | $345M | -- | -- | $3.1M | |
| Total Assets | -- | $348.4M | $78.1M | $2.5B | $2.3B | |
| Accounts Payable | -- | -- | $577K | $617K | $3.1M | |
| Accrued Expenses | -- | $375.9K | $941K | $8.9M | $10.7M | |
| Current Portion Of Long-Term Debt | -- | -- | -- | -- | -- | |
| Current Portion Of Capital Lease Obligations | -- | -- | $130K | $347K | $870K | |
| Other Current Liabilities | -- | -- | $5.2M | -- | -- | |
| Total Current Liabilities | -- | $519.3K | $8.5M | $12M | $17.9M | |
| Long-Term Debt | -- | -- | $656K | $1.8M | $2.2M | |
| Capital Leases | -- | -- | -- | -- | -- | |
| Total Liabilities | -- | $42.3M | $13.7M | $142.3M | $138.2M | |
| Common Stock | -- | $345M | $262.6M | $21K | $22K | |
| Other Common Equity Adj | -- | -- | -- | -- | $32K | |
| Common Equity | -- | $306.4M | $64.4M | $785M | $655.6M | |
| Total Preferred Equity | -- | -- | -- | -- | -- | |
| Minority Interest, Total | -- | -$390.9K | -- | $1.5B | $1.5B | |
| Total Equity | -- | $306.1M | $64.4M | $2.3B | $2.2B | |
| Total Liabilities and Equity | -- | $348.4M | $78.1M | $2.5B | $2.3B | |
| Cash and Short Terms | -- | $2.6M | $5.2M | $636.9M | $507.6M | |
| Total Debt | -- | -- | $656K | $1.8M | $2.4M | |
| Period Ending | 2021-09-30 | 2022-09-30 | 2023-09-30 | 2024-09-30 | 2025-09-30 | |
|---|---|---|---|---|---|---|
| Cash and Equivalents | $2.8M | $2M | $645.2M | $559.1M | $365.4M | |
| Short Term Investments | -- | -- | $100M | $172.9M | -- | |
| Accounts Receivable, Net | -- | -- | -- | -- | -- | |
| Inventory | -- | -- | -- | -- | -- | |
| Prepaid Expenses | $882K | $395.6K | $2.7M | $2.4M | -- | |
| Other Current Assets | -- | -- | $40K | $184K | -- | |
| Total Current Assets | $3.7M | $2.4M | $650.9M | $564.1M | $369.6M | |
| Property Plant And Equipment | -- | -- | $91.9M | $133.6M | $16.9M | |
| Long-Term Investments | $345M | $347M | -- | $20.8M | $58.6M | |
| Goodwill | -- | -- | $424M | $359.8M | -- | |
| Other Intangibles | -- | -- | $1.3B | $1.3B | -- | |
| Other Long-Term Assets | $345M | $347M | -- | $3M | -- | |
| Total Assets | $348.7M | $349.4M | $2.5B | $2.3B | $629.9M | |
| Accounts Payable | -- | -- | $1.7M | $3.6M | $1.3M | |
| Accrued Expenses | $464K | $1.5M | $6.4M | $15.4M | -- | |
| Current Portion Of Long-Term Debt | -- | -- | -- | -- | -- | |
| Current Portion Of Capital Lease Obligations | -- | -- | $3K | $678K | -- | |
| Other Current Liabilities | -- | -- | -- | -- | -- | |
| Total Current Liabilities | $631.9K | $1.5M | $9.4M | $26.9M | $22.3M | |
| Long-Term Debt | -- | -- | -- | $2.5M | $2.8M | |
| Capital Leases | -- | -- | -- | -- | -- | |
| Total Liabilities | $44.5M | $20.4M | $229.5M | $90.8M | $47.4M | |
| Common Stock | $345M | $346.9M | $21K | $21K | $22K | |
| Other Common Equity Adj | -- | -- | -- | $112K | -- | |
| Common Equity | -- | -- | -- | -- | -- | |
| Total Preferred Equity | -- | -- | -- | -- | -- | |
| Minority Interest, Total | -$461.4K | $492.6K | $2.2B | $1.5B | $438.7M | |
| Total Equity | $304.2M | $329M | $2.3B | $2.2B | $582.5M | |
| Total Liabilities and Equity | $348.7M | $349.4M | $2.5B | $2.3B | $629.9M | |
| Cash and Short Terms | $2.8M | $2M | $645.2M | $559.1M | $365.4M | |
| Total Debt | $166.6K | -- | -- | $2.7M | $2.9M | |
| Period Ending | 2020-12-31 | 2021-12-31 | 2022-12-31 | 2023-12-31 | 2024-12-31 | |
|---|---|---|---|---|---|---|
| Net Income to Stockholders | -- | -$10.2M | -$54.8M | -$176M | -$280.1M | |
| Depreciation & Amoritzation | -- | -- | $13.4M | $50.8M | $81.6M | |
| Stock-Based Compensation | -- | -- | $12.6M | $22.7M | $33.7M | |
| Change in Accounts Receivable | -- | -$8K | -$301K | -$2M | -$931K | |
| Change in Inventories | -- | -- | -- | -- | -- | |
| Cash From Operations | -- | -$1.3M | -$16.6M | -$49M | -$31.6M | |
| Capital Expenditures | -- | -- | $115K | $11.6M | $69.9M | |
| Cash Acquisitions | -- | -- | -- | -- | -- | |
| Cash From Investing | -- | -$345M | -$115K | -$103.7M | -$168.7M | |
| Dividends Paid (Ex Special Dividend) | -- | -- | -- | -- | -- | |
| Special Dividend Paid | ||||||
| Long-Term Debt Issued | -- | -- | $2M | -- | -- | |
| Long-Term Debt Repaid | -- | -- | -$10M | -- | -$67K | |
| Repurchase of Common Stock | -- | -- | -- | $219M | -- | |
| Other Financing Activities | -- | -- | -$533K | -- | -$4.9M | |
| Cash From Financing | -- | $348.9M | $21.5M | $335.4M | -$4.9M | |
| Beginning Cash (CF) | -- | $2.6M | $5.2M | $536.9M | $329.2M | |
| Foreign Exchange Rate Adjustment | -- | -- | -- | -- | -- | |
| Additions / Reductions | -- | $2.6M | $4.7M | $182.7M | -$205.3M | |
| Ending Cash (CF) | -- | $5.1M | $9.9M | $719.6M | $124M | |
| Levered Free Cash Flow | -- | -$1.3M | -$16.7M | -$60.7M | -$101.5M | |
| Period Ending | 2021-09-30 | 2022-09-30 | 2023-09-30 | 2024-09-30 | 2025-09-30 | |
|---|---|---|---|---|---|---|
| Net Income to Stockholders | -$5.6M | -$12.2M | -$92M | -$6.8M | -$1.2B | |
| Depreciation & Amoritzation | -- | $3.3M | $20M | $20.2M | $15.6M | |
| Stock-Based Compensation | -- | $3.4M | -- | $9M | $11.7M | |
| Change in Accounts Receivable | -- | -$62K | -$778K | -$1.3M | $440K | |
| Change in Inventories | -- | -- | -- | -- | -- | |
| Cash From Operations | -$1.2M | -$3M | $116K | -$7.8M | -$48M | |
| Capital Expenditures | -- | -- | $3.4M | $22.5M | $3.3M | |
| Cash Acquisitions | -- | -- | -$1K | -- | -- | |
| Cash From Investing | -- | -- | -$103.4M | -$10.9M | -$6.6M | |
| Dividends Paid (Ex Special Dividend) | -- | -- | -- | -- | -- | |
| Special Dividend Paid | -- | -- | -- | -- | -- | |
| Long-Term Debt Issued | -- | -- | -- | -- | -- | |
| Long-Term Debt Repaid | -- | -- | -- | -- | -- | |
| Repurchase of Common Stock | -- | -- | -- | -- | -- | |
| Other Financing Activities | -- | -- | -- | -$99K | -- | |
| Cash From Financing | $18.5M | -- | -$133K | -$152K | -$65K | |
| Beginning Cash (CF) | $2.8M | $2M | $545.2M | $386.3M | $229.3M | |
| Foreign Exchange Rate Adjustment | -- | -$5K | $2K | -- | -- | |
| Additions / Reductions | $17.2M | -$3M | -$103.4M | -$18.9M | -$54.7M | |
| Ending Cash (CF) | $20M | -$1M | $441.9M | $367.4M | $174.6M | |
| Levered Free Cash Flow | -$1.2M | -$3M | -$3.3M | -$30.3M | -$51.3M | |
| Period Ending | 2021-09-30 | 2022-09-30 | 2023-09-30 | 2024-09-30 | 2025-09-30 | |
|---|---|---|---|---|---|---|
| Net Income to Stockholders | -- | -$35.5M | -$254.2M | -$4.9M | -$1.8B | |
| Depreciation & Amoritzation | -- | -- | $34.2M | $80.3M | $80.3M | |
| Stock-Based Compensation | -- | $8.6M | $12.1M | $23.8M | $45.6M | |
| Change in Accounts Receivable | -- | -- | -$2.9M | $1.1M | $2.2M | |
| Change in Inventories | -- | -- | -- | -- | -- | |
| Cash From Operations | -- | -$12.7M | -$50M | -$21.7M | -$105.9M | |
| Capital Expenditures | -- | -- | $6.4M | $45.5M | $45.9M | |
| Cash Acquisitions | -- | -- | -$7.9M | $7.9M | -- | |
| Cash From Investing | -- | -- | -$98.5M | -$134.8M | -$45.9M | |
| Dividends Paid (Ex Special Dividend) | -- | -- | -- | -- | -- | |
| Special Dividend Paid | ||||||
| Long-Term Debt Issued | -- | -- | -- | -- | -- | |
| Long-Term Debt Repaid | -- | -- | -- | -- | -- | |
| Repurchase of Common Stock | -- | -- | $219M | -- | -- | |
| Other Financing Activities | -- | -- | -- | -- | -- | |
| Cash From Financing | -- | $21.3M | $335.4M | -$64K | -$5M | |
| Beginning Cash (CF) | -- | -- | -- | -- | -- | |
| Foreign Exchange Rate Adjustment | -- | -- | -- | -- | -- | |
| Additions / Reductions | -- | $8.6M | $186.9M | -$156.6M | -$156.9M | |
| Ending Cash (CF) | -- | -- | -- | -- | -- | |
| Levered Free Cash Flow | -- | -$12.7M | -$56.4M | -$67.2M | -$151.8M | |
| Period Ending | 2022-09-30 | 2023-09-30 | 2024-09-30 | 2025-09-30 | 2026-09-30 | |
|---|---|---|---|---|---|---|
| Net Income to Stockholders | -$37.3M | -$236.7M | -$65.7M | -$1.6B | -- | |
| Depreciation & Amoritzation | $9.9M | $30.7M | $60.3M | $58.9M | -- | |
| Stock-Based Compensation | $8.6M | $9.3M | $23.8M | $35.8M | -- | |
| Change in Accounts Receivable | -$344K | -$2.9M | $171K | $3.3M | -- | |
| Change in Inventories | -- | -- | -- | -- | -- | |
| Cash From Operations | -$12.6M | -$46M | -$18.7M | -$93M | -- | |
| Capital Expenditures | -- | $6.3M | $40.2M | $16.2M | -- | |
| Cash Acquisitions | -- | -$7.9M | -- | -- | -- | |
| Cash From Investing | -- | -$98.4M | -$129.5M | -$6.7M | -- | |
| Dividends Paid (Ex Special Dividend) | -- | -- | -- | -- | -- | |
| Special Dividend Paid | -- | -- | -- | -- | -- | |
| Long-Term Debt Issued | $2M | -- | -- | -- | -- | |
| Long-Term Debt Repaid | -$10M | -- | -- | -$50K | -- | |
| Repurchase of Common Stock | -- | $219M | -- | -- | -- | |
| Other Financing Activities | -$534K | -- | -$99K | -- | -- | |
| Cash From Financing | $21.5M | $335.4M | -$91K | -$164K | -- | |
| Beginning Cash (CF) | $6.4M | $1.2B | $1.2B | $813.4M | -- | |
| Foreign Exchange Rate Adjustment | -$5K | $2K | -- | -- | -- | |
| Additions / Reductions | $8.8M | $191M | -$148.2M | -$99.9M | -- | |
| Ending Cash (CF) | $15.2M | $1.4B | $1.1B | $713.5M | -- | |
| Levered Free Cash Flow | -$12.6M | -$52.3M | -$58.8M | -$109.1M | -- | |
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