📊 Interactive Cash Flow Visualizations
Sankey Diagram: Source & Application
Waterfall Chart: Net Movement
📈 Key Financial Parameters
| Parameter | Value |
|---|---|
| Capital expenditures | 17373 |
| Cash and cash equivalents, end of year | 24365 |
| Depreciation and amortization | 4361 |
| Income tax provision | 1890 |
| Interest-net | 4002 |
| Long-term debt, excluding current maturities | 72320 |
| Net Earnings | 12807 |
| Net Sales | 447567 |
| Operating income | 18964 |
| Profit before tax | 14697 |
| Total Assets | 309581 |
| Total Equity | 100090 |
| Total current assets | 90582 |
| Total current liabilities | 114897 |
| Total liabilities and Equity | 309581 |
🧮 Calculated Metrics
| Metric | Value |
|---|---|
| Cost of Debt | 0.0553 |
| Cost of Equity | 0.0975 |
| Total Debt and Equity | 172,410 |
| tax rate | 0.1286 |
| Net working capital | -24,315 |
| EBITDA | 23,060 |
| EBIT | 18,699 |
| FCF0 | 27,597.3521 |
| FCF1 | 27,735.3389 |
| FCF2 | 27,874.0156 |
| WACC | 0.0768 |
| Terminal Value | 389,999.8179 |
| Enterprise Value | 386,128.8759 |
| Equity value | 338,173.8759 |
| Intrinsic Share price | 372.5695 |
📝 Detailed Cashflow Breakdown
| Line Item | Value |
|---|---|
| Closing Cash and cash equivalents, end of year | 24365 |
| Net (decrease)/increase in cash and cash equivalents | -947 |
| Net cash provided by operating activities | 19697 |
| Net cash provided by/(used in) financing activities | -11644 |
| Net cash used in investing activities | -8685 |
| Opening Cash and cash equivalents, beginning of year | 25312 |
🔍 Management Commentary & Qualitative Insights
Q: Analyze the auditor's assessment of Internal Control over Financial Reporting (ICFR). Were any material weaknesses or significant deficiencies identified?
The auditor concluded that internal control over financial reporting was effective and did not identify any material weaknesses or significant deficiencies.
Q: Are there any issues like pending lawsuits (contingent liabilities) and what are their details?
The company is subject to government investigations, audits and reviews that could result in claims, including allegations of false claims, failure to disclose business practices, and potential liabilities from pharmacy care regulatory actions; no specific pending lawsuit is identified but contingent liabilities may arise from these investigations.
Q: Does the auditor's report mention any material uncertainty related to going concern? Identify any language suggesting the company might not survive the next 12 months.
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Q: Extract the Auditor's Report section. Does the auditor provide an unqualified opinion? If the opinion is modified (qualified, adverse, or a disclaimer), explain the specific reasons provided by the auditor for this modification.
The auditor’s report states an unqualified opinion on the financial statements and an unqualified opinion on internal control; no modified opinion is issued, so no reasons for modification are provided.
Q: Is the revenue growth sustainable?
Revenue grew 12% but faces ongoing regulatory, funding and medical cost pressures that create uncertainty about the sustainability of that growth.
Q: List the Key Audit Matters (KAMs) identified by the auditor. For each, summarize why the auditor considered it a significant risk and what specific procedures they performed to address it.
Key Audit Matter: Medical Costs Payable (IBNR). The auditor deemed it a significant risk due to the need for complex actuarial assumptions. Procedures included involving actuarial specialists and evaluating the reasonableness of methods, assumptions, and judgments used in estimating medical costs payable.
Q: What are the biggest risks ahead?
Biggest risks include regulatory changes affecting Medicare/Medicaid and Medicaid funding, compliance with complex health‑care laws, litigation and contingent liabilities, competitive pressure, reimbursement rate reductions, cybersecurity threats, and macro‑economic impacts on enrollment and pricing.
Q: What are the competitive advantages that protect the business from rivals?
Competitive advantages stem from its integrated Optum and UnitedHealthcare platform, extensive data and analytics, large scale, strong local‑market relationships, diversified product suite, and ability to offer value‑based, end‑to‑end solutions that rivals cannot easily replicate.
Q: What are the details on Executive Compensation and "Promoter Pledging"?
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Q: What are the key insights from the Management Discussion and Analysis report?
The MD&A highlights earnings attributable to shareholders, medical cost ratio trends, operating cost and margin changes, tax rate fluctuations, net earnings margin, return on equity, revenue growth driven by Medicare Advantage, Medicaid, Optum Rx, and pricing trends, and discusses segment performance and drivers of revenue and earnings.
Q: What are the key insights on the expansion of the product portfolio?
Key insights on product portfolio expansion include adding Medicare Advantage, Medicare Part D, Medicare Supplement, Community & State offerings, digital and in‑home care resources, and expanding Optum Financial and pharmacy services.
Q: What is the company's stated future outlook and growth strategy?
The company states its future outlook is to build a modern, high‑performing health system by expanding Optum and UnitedHealthcare, realigning segments, improving access, affordability and outcomes, and leveraging data and analytics to drive growth.
Q: What is the core revenue model, key products, and major customers?
Core revenue model relies on premiums from government programs (e.g., CMS Medicare Advantage), employer and individual health plans, and pharmacy services; key products are UnitedHealthcare health benefit plans (Medicare Advantage, Part D, Supplement, Community & State) and Optum Health, Insight, Rx services; major customers include CMS, employers, payers, Medicare and Medicaid beneficiaries, and state programs.
Q: Who is the CEO and Chairman of the Company?
Stephen Hemsley
Q: what is the "Operating Cash Flow" and is it growing?
Operating Cash Flow is $19.7 billion; reduced from $24.2 billion from 2024
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