UnitedHealth GroupUNH +2.66%80 PB Ratio is 3.86 as of Jun. 25, 2026, which is 22% below its 10-year median of 4.92. GuruFocus rates UNH with a GF Score™ of 80/100 and a GF Value™ of $604.21 (Significantly Undervalued). The stock has 10 warning signs investors should review. Among 18 Healthcare Plans companies, UnitedHealth Group ranks worse than 66.67% on this metric.
UnitedHealth Group Inc stock PB Ratio (=3.76) is close to 1-year high of 3.79.
The historical rank and industry rank for UnitedHealth Group's PB Ratio or its related term are showing as below:
UNH'
s PB Ratio Range Over the Past 10 Years
Min: 2.27 Med: 4.92 Max: 7.05
Current: 3.86
During the past 13 years, UnitedHealth Group's highest PB Ratio was 7.05. The lowest was 2.27. And the median was 4.92.
UNH's PB Ratio is ranked worse than 66.67% of 18
companies
in the Healthcare Plans industry
Industry Median: 2.455
vs UNH: 3.86
During the past 12 months, UnitedHealth Group's average Book Value Per Share Growth Rate was 3.30% per year.
During the past 3 years, the average Book Value Per Share Growth Rate was 7.70% per year.
During the past 5 years, the average Book Value Per Share Growth Rate was 9.00% per year.
During the past 10 years, the average Book Value Per Share Growth Rate was 11.70% per year.
During the past 13 years, the highest 3-Year average Book Value Per Share Growth Rate of UnitedHealth Group was 119.40% per year. The lowest was -4.70% per year. And the median was 13.20% per year.
Back to Basics: PB Ratio
UnitedHealth Group (NYSE:UNH) PB Ratio Explanation
The PB Ratio works the best for the businesses that earn most of their profit from their assets, e.g. banks and insurance companies.
Be Aware
Some businesses have very light assets, such as software companies or insurance agencies. The PB Ratio does not work well for these companies. Some companies even have negative equity, so the PB Ratio cannot be applied to them.
UnitedHealth Group PB Ratio Related Terms
UnitedHealth Group PB Ratio Historical Data
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The historical data trend for UnitedHealth Group's 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.
For the Healthcare Plans subindustry, UnitedHealth Group's PB Ratio, along with its competitors' market caps and 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 PB Ratio vs Healthcare Plans Industry
For the Healthcare Plans industry and Healthcare sector, UnitedHealth Group's PB Ratio distribution charts can be found below:
* The bar in red indicates where UnitedHealth Group's PB Ratio falls into.
The PB Ratio, or Price-to-Book ratio, or Price/Book, is a financial ratio used to compare a company's market price to its Book Value per Share. It is a ratio widely used to value stocks.
* 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.
It can also be calculated from the numbers for the whole company:
A closely related ratio is called Price-to-Tangible-Book. The difference between Price-to-Tangible-Book and PB Ratio is that book value other than intangibles are used in the calculation.
UnitedHealth Group (UNH) has a PB Ratio of 3.86 as of Jun. 25, 2026. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on UnitedHealth Group and its competitors. This is 22% below median its historical median of 4.92. Over the past decade, UnitedHealth Group's PB Ratio has ranged from 2.27 to 7.05. According to the industry distribution chart, UnitedHealth Group ranks #12 out of 18 companies in the Healthcare Plans industry, placing it in the top 66.7%.
Is UnitedHealth Group's PB Ratio too high?
UnitedHealth Group's current PB Ratio of 3.86 is 22% below median its 10-year median of 4.92. Over the past 10 years, this metric has ranged from a low of 2.27 to a high of 7.05. The Healthcare Plans industry median PB Ratio is 2.46. UnitedHealth Group's value of 3.86 is 57.2% above this industry median. Based on the distribution chart, UnitedHealth Group ranks #12 out of 18 companies in the Healthcare Plans industry, which is below the industry midpoint. Overall, UnitedHealth Group has a GF Score™ of 80/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does UnitedHealth Group's PB Ratio compare to CVS and ELV?
According to the Healthcare Plans industry distribution chart, UnitedHealth Group ranks #12 out of 18 companies for PB Ratio. This places UnitedHealth Group in the lower half of its industry. The industry median PB Ratio is 2.46. UnitedHealth Group's value of 3.86 is 57.2% above this benchmark. Historically, UnitedHealth Group's own PB Ratio has ranged from 2.27 to 7.05 over the past decade. While the company's 10-year median is 4.92 vs. the industry median of 2.46, UnitedHealth Group has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good PB Ratio for a Healthcare Plans company?
The median PB Ratio among Healthcare Plans companies is 2.46, based on 18 companies in the industry. Companies in the top quartile (top 25%) have a PB Ratio significantly above this median, while those in the bottom quartile fall well below. However, PB Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. UnitedHealth Group's current PB Ratio of 3.86 is 57.2% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high PB Ratio mean?
A high PB Ratio can signal that a stock is expensive relative to its fundamentals. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on UnitedHealth Group and its competitors. For the Healthcare Plans industry, the median PB Ratio is 2.46 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. UnitedHealth Group's current PB Ratio is 3.86, which is 22% below median its own 10-year median of 4.92. 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 (UNH) is currently considered Significantly Undervalued. The stock's GF Value™ is $604.21, compared to a current price of $416.58 — trading 31.1% below its estimated fair value. The current PB Ratio is 3.86, which is 22% below median its 10-year median of 4.92 and 57.2% above the Healthcare Plans industry median of 2.46. UnitedHealth Group's overall GF Score™ is 80/100 with 10 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is PB Ratio calculated?
PB Ratio is calculated from a company's financial statements. For UnitedHealth Group (UNH), the current PB Ratio is 3.86 as of Jun. 25, 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 (UNH) Overvalued in 2026?
Based on GuruFocus' analysis, UnitedHealth Group stock appears to be undervalued.
The current stock price of $416.58 is trading 31.1% below its estimated GF Value™ of $604.21.
GuruFocus considers UnitedHealth Group to be Significantly Undervalued.
Key valuation signals for UNH:
PB Ratio: 3.86 (22% below median its 10-year median of 4.92)
GF Value™: $604.21 vs. price of $416.58 (31.1% below fair value)
Industry Position: 57.2% above the Healthcare Plans median (#12 of 18)
No single metric tells the full story. See the 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.
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