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UnitedHealth Group Piotroski F-Score

: 6 (As of Today)
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The zones of discrimination were as such:

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

UnitedHealth Group has an F-score of 6 indicating the company's financial situation is typical for a stable company.

The historical rank and industry rank for UnitedHealth Group's Piotroski F-Score or its related term are showing as below:

NYSE:UNH' s Piotroski F-Score Range Over the Past 10 Years
Min: 2   Med: 6   Max: 9
Current: 6

2
9

During the past 13 years, the highest Piotroski F-Score of UnitedHealth Group was 9. The lowest was 2. And the median was 6.


UnitedHealth Group Piotroski F-Score Historical Data

The historical data trend for UnitedHealth Group's Piotroski F-Score 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.

* Premium members only.

UnitedHealth Group Annual Data
Trend Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20
Piotroski F-Score
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 4.00 6.00 6.00 6.00 7.00

UnitedHealth Group Quarterly Data
Dec16 Mar17 Jun17 Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21
Piotroski F-Score 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 Premium Member Only Premium Member Only Premium Member Only 8.00 7.00 7.00 4.00 6.00

Competitive Comparison

For the Healthcare Plans subindustry, UnitedHealth Group's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score 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 Piotroski F-Score Distribution

For the Healthcare Plans industry and Healthcare sector, UnitedHealth Group's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where UnitedHealth Group's Piotroski F-Score falls into.


How is the Piotroski F-Score calculated?

* 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.

This Year (Sep21) TTM:Last Year (Sep20) TTM:
Net Income was 2212 + 4862 + 4266 + 4086 = $15,426 Mil.
Cash Flow from Operations was 6101 + 6005 + 5540 + 7580 = $25,226 Mil.
Revenue was 65022 + 69744 + 70765 + 71834 = $277,365 Mil.
Gross Profit was 15318 + 17268 + 16559 + 16730 = $65,875 Mil.
Average Total Assets from the begining of this year (Sep20)
to the end of this year (Sep21) was
(190969 + 197289 + 205171 + 210292 + 213045) / 5 = $203353.2 Mil.
Total Assets at the begining of this year (Sep20) was $190,969 Mil.
Long-Term Debt & Capital Lease Obligation was $43,345 Mil.
Total Current Assets was $61,610 Mil.
Total Current Liabilities was $79,575 Mil.
Net Income was 3541 + 3382 + 6637 + 3172 = $16,732 Mil.

Revenue was 60468 + 64056 + 61797 + 64764 = $251,085 Mil.
Gross Profit was 14681 + 15369 + 19618 + 15193 = $64,861 Mil.
Average Total Assets from the begining of last year (Sep19)
to the end of last year (Sep20) was
(173709 + 173889 + 189067 + 192483 + 190969) / 5 = $184023.4 Mil.
Total Assets at the begining of last year (Sep19) was $173,709 Mil.
Long-Term Debt & Capital Lease Obligation was $39,895 Mil.
Total Current Assets was $54,821 Mil.
Total Current Liabilities was $66,597 Mil.

*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.

Profitability

Question 1. Return on Assets (ROA)

Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

UnitedHealth Group's current Net Income (TTM) was 15,426. ==> Positive ==> Score 1.

Question 2. Cash Flow Return on Assets (CFROA)

Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

UnitedHealth Group's current Cash Flow from Operations (TTM) was 25,226. ==> Positive ==> Score 1.

Question 3. Change in Return on Assets

Compare this year's return on assets (1) to last year's return on assets.

Score 1 if it's higher, 0 if it's lower.

ROA (This Year)=Net Income/Total Assets (Sep20)
=15426/190969
=0.08077751

ROA (Last Year)=Net Income/Total Assets (Sep19)
=16732/173709
=0.09632201

UnitedHealth Group's return on assets of this year was 0.08077751. UnitedHealth Group's return on assets of last year was 0.09632201. ==> Last year is higher ==> Score 0.

Question 4. Quality of Earnings (Accrual)

Compare Cash flow return on assets (2) to return on assets (1)

Score 1 if CFROA > ROA, 0 if CFROA <= ROA.

UnitedHealth Group's current Net Income (TTM) was 15,426. UnitedHealth Group's current Cash Flow from Operations (TTM) was 25,226. ==> 25,226 > 15,426 ==> CFROA > ROA ==> Score 1.

Funding

Question 5. Change in Gearing or Leverage

Compare this year's gearing (long-term debt divided by average total assets) to last year's gearing.

Score 0 if this year's gearing is higher, 1 otherwise.

Gearing (This Year: Sep21)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Sep20 to Sep21
=43345/203353.2
=0.21315131

Gearing (Last Year: Sep20)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Sep19 to Sep20
=39895/184023.4
=0.21679308

UnitedHealth Group's gearing of this year was 0.21315131. UnitedHealth Group's gearing of last year was 0.21679308. ==> This year is lower or equal to last year. ==> Score 1.

Question 6. Change in Working Capital (Liquidity)

Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.

Score 1 if this year's current ratio is higher, 0 if it's lower

Current Ratio (This Year: Sep21)=Total Current Assets/Total Current Liabilities
=61610/79575
=0.77423814

Current Ratio (Last Year: Sep20)=Total Current Assets/Total Current Liabilities
=54821/66597
=0.82317522

UnitedHealth Group's current ratio of this year was 0.77423814. UnitedHealth Group's current ratio of last year was 0.82317522. ==> Last year's current ratio is higher ==> Score 0.

Question 7. Change in Shares in Issue

Compare the number of shares in issue this year, to the number in issue last year.

Score 0 if there is larger number of shares in issue this year, 1 otherwise.

UnitedHealth Group's number of shares in issue this year was 955. UnitedHealth Group's number of shares in issue last year was 962. ==> There is smaller number of shares in issue this year, or the same. ==> Score 1.

Efficiency

Question 8. Change in Gross Margin

Compare this year's gross margin (Gross Profit divided by sales) to last year's.

Score 1 if this year's gross margin is higher, 0 if it's lower.

Gross Margin (This Year: TTM)=Gross Profit/Revenue
=65875/277365
=0.23750293

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=64861/251085
=0.25832288

UnitedHealth Group's gross margin of this year was 0.23750293. UnitedHealth Group's gross margin of last year was 0.25832288. ==> Last year's gross margin is higher ==> Score 0.

Question 9. Change in asset turnover

Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.

Score 1 if this year's asset turnover ratio is higher, 0 if it's lower

Asset Turnover (This Year)=Revenue/Total Assets at the Beginning of This Year (Sep20)
=277365/190969
=1.45240851

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Sep19)
=251085/173709
=1.44543461

UnitedHealth Group's asset turnover of this year was 1.45240851. UnitedHealth Group's asset turnover of last year was 1.44543461. ==> This year's asset turnover is higher. ==> Score 1.

Evaluation

Piotroski F-Score= Que. 1+ Que. 2+ Que. 3+Que. 4+Que. 5+Que. 6+Que. 7+Que. 8+Que. 9
=1+1+0+1+1+0+1+0+1
=6

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

UnitedHealth Group has an F-score of 6 indicating the company's financial situation is typical for a stable company.

UnitedHealth Group  (NYSE:UNH) Piotroski F-Score Explanation

The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.

He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.

In 2000, he wrote a research paper called "Value Investing: The Use of Historical Financial Statement Information to Separate Winners from Losers" (pdf).

He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.

What he found was something that exceeded his most optimistic expectations.

Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.

Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).

Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.


UnitedHealth Group Piotroski F-Score Related Terms

Thank you for viewing the detailed overview of UnitedHealth Group's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.


UnitedHealth Group Business Description

UnitedHealth Group logo
Industry
Healthcare » Healthcare Plans NAICS : 524114 SIC : 6324
Address
9900 Bren Road East, UnitedHealth Group Center, Minnetonka, MN, USA, 55343
UnitedHealth Group is the largest private health insurance provider in the United States, providing medical benefits to 48 million members across its U.S. and international businesses at the end of 2020. As a leader in employer-sponsored, self-directed, and government-backed insurance plans, UnitedHealth has obtained massive scale in managed care. Along with its insurance assets, UnitedHealth's continued investments in its Optum franchises have created a healthcare services colossus that spans everything from medical and pharmaceutical benefits to providing outpatient care and analytics to both affiliated and third-party customers.
Executives
Renwick Glenn M director 6300 WILSON MILLS ROAD MAYFIELD VILLAGE OH 44143
Flynn Timothy Patrick director JPMORGAN CHASE & CO. 270 PARK AVENUE NEW YORK NY 10017
Wilensky Gail R director C/O QUEST DIAGNOSTICS 500 PLAZA DRIVE SECAUCUS NJ 07094
Hooper Michele J director C/O PPG INDUSTRIES, INC. ONE PPG PLACE PITTSBURGH PA 15272
Montgomery Rice Valerie Md director C/O UNITEDHEALTH GROUP 9900 BREN ROAD EAST, MN008-T502 MINNETONKA MN 55343
Hemsley Stephen J director 200 WASHINGTON AVE N SUITE 200 MINNEAPOLIS MN 55401
Burke Richard T director 3962 TOMAHAWK TRAIL MEDINA MN 55340
Mcnabb Frederick William Iii director C/O UNITEDHEALTH GROUP 9900 BREN ROAD EAST, MN-008-T502 MINNETONKA MN 55343
Noseworthy John H director 2000 GALLOPING HILL ROAD KENILWORTH NJ 07033
Rex John F officer: EVP Chief Financial Officer C/O UNITEDHEALTH GROUP 9900 BREN ROAD EAST, MN008-T502 MINNETONKA MN 55343
Lewis Patricia L officer: EVP and Chief HR Officer C/O UNITEDHEALTH GROUP 9900 BREN ROAD EAST, MN008-T502 MINNETONKA MN 55343
Mcmahon Dirk C officer: Chief Executive Officer, UHC C/O UNITEDHEALTH GROUP 9900 BREN ROAD EAST, MN008-T502 MINNETONKA MN 55343
Roos Thomas E officer: Chief Accounting Officer C/O UNITEDHEALTH GROUP 9900 BREN ROAD EAST, MN008-T502 MINNETONKA MN 55343
Short Marianne D officer: EVP & Chief Legal Officer C/O UNITEDHEALTH GROUP 9900 BREN ROAD EAST MINNETONKA MN 55343
Wichmann David S director, officer: Chief Executive Officer UNITEDHEALTH GROUP INC 9900 BREN RD E MINNETONKA MN 55343

UnitedHealth Group Headlines

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