LIVE
UNH
UnitedHealth Group Incorporated · Healthcare
$400.96
+3.01% this month
VERSUS
⟷
COMPARE
ELV
Elevance Health, Inc. · Healthcare
$388.50
-3.42% this month
Scoreboard verdict
Across AI score, momentum, valuation, upside, operating margin
UNH
3
ELV
2
Comparison scoreboard
UNH LEADS 3/5AI Score
UNH ✓48.4
ELV 47.5
1Y Return
UNH ✓+29.82%
ELV +3.55%
Fwd P/E
UNH 19.54
ELV ✓13.82
Target Up.
UNH -0.28%
ELV ✓+2.91%
Op. Margin
UNH ✓8.05%
ELV 5.30%
Metrics last refreshed: 6/20/2026
Quick take
UNH vs ELV Stock Comparison: AI Score, Valuation, Performance and Upside
UnitedHealth Group and Elevance Health are the two largest managed care organizations in the US, competing for commercial, Medicare Advantage, and Medicaid enrollment. UNH's Optum vertical integration creates superior earnings power and higher growth beyond pure insurance underwriting. Elevance is strong in Medicaid and commercial Blue Cross markets but has smaller services integration at Carelon. Both face similar medical cost inflation headwinds.
UNH vs ELV is the largest US health insurer with Optum healthcare services vertical integration creating superior earnings power beyond insurance underwriting (UnitedHealth) versus the second-largest insurer with Medicaid strength and Blue Cross commercial position building its own services platform (Elevance) — scale and vertical integration vs Medicaid expertise and commercial brand.
Live analysis · updated 6/20/2026
UNH holds the edge across 3 of 5 key metrics in this comparison. UNH has delivered stronger 1-year price return (+29.82% vs +3.55%), though ELV trades at the lower forward P/E (13.82x vs 19.54x). On fundamentals, ELV is growing revenue faster (2.60%), while UNH maintains the higher operating margin (8.05%) — a classic growth-versus-profitability split. Analyst consensus implies meaningfully more upside for ELV (+2.91%) than for UNH (-0.28%).
Normalized 1Y performance
UNH
ELV
Recent returns
UNH
ELV
Analyst price targets & sentiment
UNH · 24 analysts
STRONG BUYHOLDSTRONG SELL
Buy (1.8/5.0)
Price target range
analyst low$270.00
analyst high$626.00
analyst mean$407.38
current price$400.96
-0.3% upside to analyst mean
ELV
Price target range
analyst mean$415.81
current price$388.50
+2.9% upside to analyst mean
Who should consider this stock?
UNH may suit investors who:
- →prefer the largest managed care organization with Optum's independent healthcare services platform creating earnings above and beyond insurance cycle volatility
- →value UNH's vertical integration of insurance, pharmacy benefits, clinics, and analytics creating data-driven care advantages unavailable to competitors
- →want the most complete managed care compounding with Medicare Advantage demographic tailwind as Baby Boomers age into Medicare coverage
- →are comfortable with medical loss ratio pressure during cost inflation periods, CEO leadership transition uncertainty, and Medicare Advantage rate risk
ELV may suit investors who:
- →prefer the second-largest managed care company with strong Medicaid and commercial Blue Cross positions at somewhat lower valuation than UNH
- →value Elevance's Medicaid expertise in a market where states increasingly outsource Medicaid programs to managed care organizations
- →want managed care sector exposure with Carelon services building a vertical integration story similar to but smaller scale than UNH's Optum
- →are comfortable with Medicaid redetermination enrollment losses, higher MLR exposure from Medicaid mix, and narrower services integration vs UNH's Optum
Performance & AI score
| Metric | UNH | ELV |
|---|---|---|
| AI score | 48.4 | 47.5 |
| AI rank | #559 | #610 |
| Latest close | $400.96 | $388.50 |
| 1M return | +3.01% | -3.42% |
| 6M return | +20.91% | +12.30% |
| 1Y return | +29.82% | +3.55% |
$10,000 invested — hypothetical growth (dividends reinvested)
How much would $10,000 be worth today if invested at the start of each period, with all dividends reinvested?
| Period | UNH | ELV |
|---|---|---|
| 1Y ago | $13.05K (+30.5%) started 2025-06-18 | $10.33K (+3.3%) started 2025-06-18 |
| 5Y ago | $11.24K (+12.4%) started 2021-06-21 | $11.34K (+13.4%) started 2021-06-21 |
| 10Y ago | $37.97K (+279.7%) started 2016-06-20 | $36.96K (+269.6%) started 2016-06-20 |
Hypothetical — past performance does not guarantee future results.
Valuation & upside potential
| Metric | UNH | ELV |
|---|---|---|
| Market cap | $371B | $87.75B |
| Trailing P/E | 30.76 | 17.12 |
| Forward P/E | 19.54 | 13.82 |
| Price/Sales | 0.67 | N/A |
| EV/Revenue | 0.94 | 0.41 |
| Analyst target | $407.38 | $415.81 |
| Target upside | -0.28% | +2.91% |
Growth, profitability & risk
| Metric | UNH | ELV |
|---|---|---|
| Revenue growth | 2.00% | 2.60% |
| Earnings growth | 0.70% | -16.80% |
| EPS growth | +0.70% | -16.80% |
| FCF margin | +3.93% | +2.14% |
| Operating margin | 8.05% | 5.30% |
| Profit margin | 2.68% | 2.62% |
| ROIC proxy | 12.18% | 12.09% |
| Return on equity | 12.18% | 12.09% |
| Dividend yield | 2.27% | 1.70% |
| Beta | 0.65 | 0.68 |
| Debt/equity | 73.98 | 72.30 |
| Current ratio | 0.80 | 1.48 |
| Quick ratio | 0.72 | 1.33 |
Drawdown & downside risk
Lower drawdown and smaller single-period drops generally indicate a smoother ride, though they do not guarantee lower future risk.
1Y risk snapshot
UNH max drawdown29.98%
ELV max drawdown30.60%
UNH max wkly drop19.46%
ELV max wkly drop18.71%
5Y risk snapshot
UNH max drawdown61.66%
ELV max drawdown50.60%
UNH max wkly drop29.05%
ELV max wkly drop18.71%
10Y risk snapshot
UNH max drawdown61.66%
ELV max drawdown50.60%
UNH max wkly drop29.05%
ELV max wkly drop29.13%
Performance metrics by period
| Period | Metric | UNH | ELV |
|---|---|---|---|
| 1Y | Growth | +30.52% | +3.35% |
| CAGR | +30.57% | +3.35% | |
| Sharpe ratio | 0.76 | 0.17 | |
| Max drawdown | 29.98% | 30.60% | |
| Max daily drop | 19.61% | 14.33% | |
| Max wkly drop | 19.46% | 18.71% | |
| 5Y | Growth | +6.34% | +8.14% |
| CAGR | +1.24% | +1.58% | |
| Sharpe ratio | 0.06 | 0.05 | |
| Max drawdown | 61.66% | 50.60% | |
| Max daily drop | 22.38% | 14.33% | |
| Max wkly drop | 29.05% | 18.71% | |
| 10Y | Growth | +230.14% | +227.89% |
| CAGR | +12.69% | +12.62% | |
| Sharpe ratio | 0.40 | 0.40 | |
| Max drawdown | 61.66% | 50.60% | |
| Max daily drop | 22.38% | 17.13% | |
| Max wkly drop | 29.05% | 29.13% |
Business comparison
| Category | UNH | ELV |
|---|---|---|
| Company | UnitedHealth Group Incorporated | Elevance Health, Inc. |
| Sector | Healthcare | Healthcare |
| Industry | Healthcare Plans | N/A |
| Core business | UnitedHealth Group is the largest health insurer in the US, operating two major segments: UnitedHealthcare (insurance providing coverage to 50M+ members across commercial, Medicare Advantage, Medicaid, and international markets) and Optum (healthcare services including pharmacy benefit management through OptumRx, health clinics through OptumHealth, and healthcare analytics through OptumInsight). UNH's Optum division is the faster-growing, higher-margin segment — healthcare services growing independently from the insurance underwriting cycle. | Elevance Health (formerly Anthem) is the second-largest US health insurer by revenue, covering 45M+ members across commercial, Medicaid, Medicare Advantage, and Federal Employee Benefit programs. Elevance's Carelon Health Services segment provides pharmacy benefit management (IngenioRx), behavioral health, and care management — the equivalent of UNH's Optum but at smaller scale. Elevance is particularly strong in Medicaid managed care — serving large state Medicaid contracts across the US. |
| Investor focus | Investors track medical loss ratio (MLR — medical costs as % of premium, where lower is better), Optum revenue growth, Medicare Advantage membership, and earnings per share growth trajectory. | Investors track enrollment growth by segment (commercial, Medicaid, Medicare Advantage), medical loss ratio (the key profitability metric), Carelon services revenue, and earnings per share vs UNH. |
UNH strengths
- →Vertically integrated health system: UnitedHealthcare insurance + OptumRx pharmacy benefits + OptumHealth clinics creates unique data-driven care coordination capabilities
- →Optum's scale ($100B+ revenue) enables it to operate independently as a healthcare services giant — growing pharmacy benefits management, clinics, and analytics regardless of insurance cycle
- →Largest Medicare Advantage insurer — as Baby Boomers age into Medicare, MA membership represents a secular demographic tailwind for UNH
ELV strengths
- →Leading Medicaid managed care position — Elevance is among the largest Medicaid managed care organizations in the US, benefiting from state outsourcing of Medicaid programs
- →Commercial large employer market strength — Blue Cross Blue Shield licenses in major states provide Elevance with brand trust in commercial insurance markets
- →Carelon services growth at smaller scale than Optum but building a similar vertical integration strategy — pharmacy benefits and behavioral health growing
Risks to watch — UNH
- →Medical cost inflation and higher-than-expected utilization (post-COVID pent-up demand catching up) has pressured UNH's medical loss ratio significantly
- →UNH CEO was tragically killed in 2024 — leadership transition creates short-term uncertainty at the top of the organization
- →Medicare Advantage rate environment (annual CMS payment rate setting) directly impacts UNH's Medicare profitability
Risks to watch — ELV
- →Medicaid redetermination (states resuming eligibility checks post-COVID) created enrollment losses as members who were continuously enrolled during COVID were found ineligible
- →Medical cost pressure from utilization normalization — same headwinds as UNH but Elevance's Medicaid mix creates additional vulnerability during redetermination periods
- →Elevance at smaller scale has less negotiating leverage with providers and drug companies than UNH's Optum platform
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