UnitedHealth Group (BUE:UNH) Cyclically Adjusted PB Ratio: (As of Aug. 12, 2026)

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What is UnitedHealth Group Cyclically Adjusted PB Ratio?

Note: If the price history is too short, we do not calculate current Cyclically Adjusted PB Ratio for this stock. All the historical data is shown as the company's primary share's data instead.

Shiller PE for Stocks: The True Measure of Stock Valuation

UnitedHealth Group  (BUE:UNH) Cyclically Adjusted PB Ratio Explanation

Compared with the regular PB Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PB Ratio smoothed out the fluctuations of book value during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Cyclically Adjusted PB Ratio should give similar results to regular PB Ratio.

UnitedHealth Group Cyclically Adjusted PB Ratio Related Terms

UnitedHealth Group Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for UnitedHealth Group's Cyclically Adjusted PB Ratio can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

UnitedHealth Group Cyclically Adjusted PB Ratio Chart

UnitedHealth Group Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Cyclically Adjusted PB Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 9.71 8.94 7.95 6.88 4.06

UnitedHealth Group Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
Cyclically Adjusted PB Ratio Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 3.99 4.31 4.06 3.21 4.80

BUE:UNH vs CVS, ELV, CI: Cyclically Adjusted PB Ratio Comparison

For the Healthcare Plans subindustry, UnitedHealth Group's Cyclically Adjusted PB Ratio, along with its competitors' market caps and Cyclically Adjusted PB Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

UnitedHealth Group Cyclically Adjusted PB Ratio vs Healthcare Plans Industry

For the Healthcare Plans industry and Healthcare sector, UnitedHealth Group's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where UnitedHealth Group's Cyclically Adjusted PB Ratio falls into.


UnitedHealth Group Cyclically Adjusted PB Ratio Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted PB Ratio takes the Book Value per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/B calculation. Because it considers this 10-year average, it's often referred to as the CAPB Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio.

UnitedHealth Group's Cyclically Adjusted Book per Share for the quarter that ended in Jun. 2026 is calculated as:

For example, UnitedHealth Group's adjusted Book Value per Share data for the three months ended in Jun. 2026 was:

Adj_Book=Book Value per Share/CPI of Jun. 2026 (Change)*Current CPI (Jun. 2026)
=160949.22/333.9520*333.9520
=160,949.220

Current CPI (Jun. 2026) = 333.9520.

UnitedHealth Group Quarterly Data

Book Value per Share CPI Adj_Book
201609 589.964 241.428 816.060
201612 637.330 241.432 881.563
201703 669.449 243.801 916.993
201706 737.449 244.955 1,005.379
201709 819.174 246.819 1,108.362
201712 941.468 246.524 1,275.353
201803 995.993 249.554 1,332.833
201806 1,252.004 251.989 1,659.236
201809 1,913.012 252.439 2,530.727
201812 2,030.414 251.233 2,698.932
201903 2,121.607 254.202 2,787.212
201906 2,502.731 256.143 3,262.990
201909 3,247.842 256.759 4,224.286
201912 3,632.822 256.974 4,721.054
202003 3,734.448 258.115 4,831.670
202006 4,584.946 257.797 5,939.370
202009 5,103.002 260.280 6,547.402
202012 5,633.887 260.474 7,223.169
202103 6,336.517 264.877 7,988.963
202106 6,932.870 271.696 8,521.457
202109 7,294.886 274.310 8,880.981
202112 7,701.426 278.802 9,224.850
202203 8,320.591 287.504 9,664.833
202206 9,371.584 296.311 10,562.076
202209 11,093.114 296.808 12,481.360
202212 13,959.824 296.797 15,707.407
202303 17,235.178 301.836 19,069.038
202306 21,321.165 305.109 23,336.728
202309 31,966.136 307.789 34,683.355
202312 34,676.316 306.746 37,751.837
202403 79,385.480 312.332 84,880.639
202406 86,884.890 314.175 92,354.206
202409 97,351.586 315.301 103,110.224
202412 102,278.231 315.605 108,223.950
202503 111,334.086 319.799 116,261.279
202506 124,264.617 322.561 128,652.929
202509 143,627.767 324.800 147,674.815
202512 150,799.015 324.054 155,405.064
202603 150,782.468 330.213 152,489.777
202606 160,949.220 333.952 160,949.220

Add all the adjusted book value per share together and divide the count will get our Cyclically Adjusted Book per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

UnitedHealth Group Business Description

Address 1 Health Drive, Eden Prairie, MN, USA, 55344
UnitedHealth Group is one of the largest private health insurers and provides medical benefits to about 51 million members globally, including 1 million outside the US as of December 2025. As a leader in employer-sponsored, self-directed, and government-backed insurance plans, UnitedHealth has obtained massive scale in medical insurance. Along with its insurance assets, UnitedHealth's Optum franchises help create a healthcare services colossus that spans everything from pharmaceutical benefits to providing outpatient care and analytics to affiliates and third parties.