Graham Number is a figure that measures a stock's fundamental value by taking into account the company's earnings per share and book value per share. The Graham number is the upper bound of the price range that a defensive investor should pay for the stock. According to the theory, any stock price below the Graham number is considered undervalued, and thus worth investing in.
As of today (2026-07-06), the stock price of UnitedHealth Group is CHF342.65. UnitedHealth Group's graham number for the quarter that ended in Mar. 2026 was CHFN/A. Therefore, UnitedHealth Group's Price to Graham Number ratio for today is N/A.
The historical rank and industry rank for UnitedHealth Group's Graham Number or its related term are showing as below:
XSWX:UNH's Price-to-Graham-Number is not ranked *
in the Healthcare Plans industry.
Industry Median: 3.23 * Ranked among companies with meaningful Price-to-Graham-Number only.
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
UnitedHealth Group (XSWX:UNH) Graham Number Explanation
Ben Graham actually did not publish a formula like this. But he wrote in The Intelligent Investor (1948 version) regarding to the criteria for purchases:
Current price should not be more than 15 times average earnings of the past three years.
Current price should not be more than 1.5 times the book value last reported. However, a multiplier of earnings below 15 could justify a correspondingly higher multiplier of assets. As a rule of thumb we suggest that the product of the multiplier times the ratio of price to book value should not exceed 22.5. (This figure corresponds to 15 times earnings and 1.5 times book value. It would admit an issue selling at only 9 times earnings and 2.5 times asset value, etc.)
Unlike valuation methods such as DCF or Discounted Earnings, the Graham number does not take growth into the valuation. Unlike the valuation methods based on book value alone, it takes into account the earnings power. Therefore, the Graham Number is a combination of asset valuation and earnings power valuation.
In general, the Graham number is a very conservative way of valuing a stock. It cannot be applied to companies with negative book values.
UnitedHealth Group's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Mar. 2026 )
=
342.65
/
N/A
=
N/A
* 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.
Be Aware
Please keep these in mind:
1. Graham Number does not take growth into account. Therefore it underestimates the values of the companies that have good earnings growth. We feel that if the earnings per share grows more than 10% a year, Graham Number underestimates the value.
2. Graham Number punishes the companies that have temporarily low earnings. Therefore, an average of earnings makes more sense in the calculation of Graham Number.
3. Graham Numbers underestimates companies that are light with book.
UnitedHealth Group Graham Number Related Terms
UnitedHealth Group Graham Number Historical Data
* Premium members only.
The historical data trend for UnitedHealth Group's Graham Number 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.
XSWX:UNH vs CVS, ELV, CI: Graham Number Comparison
For the Healthcare Plans subindustry, UnitedHealth Group's Price-to-Graham-Number, along with its competitors' market caps and Price-to-Graham-Number 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 Price-to-Graham-Number vs Healthcare Plans Industry
For the Healthcare Plans industry and Healthcare sector, UnitedHealth Group's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where UnitedHealth Group's Price-to-Graham-Number falls into.
* 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 (XSWX:UNH) has a Graham Number of CHFN/A as of Mar. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on UnitedHealth Group and its competitors. According to the industry distribution chart, UnitedHealth Group ranks #999999 out of 12 companies in the Healthcare Plans industry.
Is UnitedHealth Group's Graham Number too high?
UnitedHealth Group's current Graham Number is CHFN/A. Based on the distribution chart, UnitedHealth Group ranks #999999 out of 12 companies in the Healthcare Plans industry, which is in the bottom quartile relative to peers. Overall, UnitedHealth Group has a GF Score™ of 79/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does UnitedHealth Group's Graham Number compare to CVS and ELV?
According to the Healthcare Plans industry distribution chart, UnitedHealth Group ranks #999999 out of 12 companies for Graham Number. This places UnitedHealth Group in the lower half of its industry. The industry median Graham Number is 3.23. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Graham Number for a Healthcare Plans company?
The median Graham Number among Healthcare Plans companies is 3.23, based on 12 companies in the industry. Companies in the top quartile (top 25%) have a Graham Number significantly above this median, while those in the bottom quartile fall well below. However, Graham Number should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Graham Number mean?
A high Graham Number can signal that a stock is expensive relative to its fundamentals. The Graham Number values a company based on its per-share earnings and book value. View historical data on UnitedHealth Group and its competitors. For the Healthcare Plans industry, the median Graham Number is 3.23 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. UnitedHealth Group's current Graham Number is CHFN/A. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is UnitedHealth Group stock overvalued right now?
Based on GuruFocus' analysis, UnitedHealth Group (XSWX:UNH) is currently considered Modestly Undervalued. The stock's GF Value™ is CHF474.88, compared to a current price of CHF342.65 — trading 27.8% below its estimated fair value. The current Graham Number is CHFN/A. UnitedHealth Group's overall GF Score™ is 79/100 with 10 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Graham Number calculated?
Graham Number is calculated from a company's financial statements. For UnitedHealth Group (XSWX:UNH), the current Graham Number is CHFN/A as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is UnitedHealth Group (XSWX:UNH) Overvalued in 2026?
Based on GuruFocus' analysis, UnitedHealth Group stock appears to be undervalued.
The current stock price of CHF342.65 is trading 27.8% below its estimated GF Value™ of CHF474.88.
GuruFocus considers UnitedHealth Group to be Modestly Undervalued.
Key valuation signals for XSWX:UNH:
Graham Number: CHFN/A
GF Value™: CHF474.88 vs. price of CHF342.65 (27.8% below fair value)
No single metric tells the full story. See the XSWX:UNH stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
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.
79GF Score
Get the complete analysis for XSWX:UNH
Graham Number is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
XSWX:UNH has been successfully added to your 
