UnitedHealth Group Incorporated（UNH）の適正株価とPER分析

Medical - Healthcare Plans · NYSE

UnitedHealth Group Incorporated の適正株価はいくらですか？

2026-08-21 時点で、UnitedHealth Group Incorporated（UNH）の1株あたり利益 $15.59 に 25.0x の利益マルチプルを適用すると、1株あたりの適正株価の試算は約 $365.21 となります。現在株価は $390.11 です。

利益マルチプルによる適正株価は、選ぶマルチプル次第で大きく変わります。感応度グリッド全体では、試算は $301.55 から $438.13 の範囲に広がります。これは利益に紐づく相対的な試算であり、確定的な事実ではありません。キャッシュフローに基づく視点については、DCFページの本質的価値の試算をご覧ください。

PERモデルの仕組み · PERモードで再計算 · UNH の本質的価値（DCFの視点）

UnitedHealth Group Incorporated（UNH）は割高ですか？

$390.11 の水準で、UNH はPERベースの適正株価の試算を 6.8% ほど上回っており、適用した利益マルチプルに対して小幅なプレミアムです。利益成長がこの株価を正当化するかどうかを確認してください。

評価：Charlie Wang（元監査人）

会社概要

UnitedHealth Group Incorporated (UNH) operates as a comprehensive healthcare enterprise across the United States, structuring its diverse services into four key divisions: UnitedHealthcare, Optum Health, Optum Insight, and Optum Rx. The UnitedHealthcare segment provides a wide array of health benefit plans and consumer-focused services. These offerings cater to a broad spectrum of clients, including large national corporations, public sector employers, mid-sized and small businesses, and individual consumers. It also delivers specialized health coverage and wellness programs tailored for individuals aged 50 and older, addressing their needs for preventive and acute care, chronic disease management, and other age-specific health issues. This division further encompasses Medicaid plans, children's health insurance, dental benefits, and various hospital and clinical services. Optum Health focuses on delivering direct healthcare solutions and management services. It facilitates access to networks of specialist care providers, offers health management programs, direct care delivery, consumer engagement initiatives, and financial services. Its diverse clientele includes individuals (served directly through care systems), employers, insurance payers, and government organizations. Optum Insight specializes in providing technology, information, and consulting services to the healthcare industry. Its offerings include software and data products, advisory consulting arrangements, and outsourced managed services. Clients span hospital systems, physicians, health plans, governmental bodies, life sciences companies, and other relevant organizations. Finally, Optum Rx handles the company's pharmaceutical care services. This segment manages retail pharmacy networks, provides home prescription delivery, and offers specialty and compounding pharmacy capabilities. Leveraging its purchasing power and clinical expertise, Optum Rx also develops advanced programs related to step therapy, formulary management, medication adherence, and integrated disease and drug therapy management. UnitedHealth Group Incorporated, founded in 1977, has its corporate headquarters located in Minnetonka, Minnesota.

財務指標 — UNH PERバリュエーションデータ

よくある質問

関連リンク

• UNH のDCFバリュエーションを見る → — 割引キャッシュフロー分析による本質的価値
• PER法の解説 — PERバリュエーションのステップ別ガイド
• DCF法の解説 — 割引キャッシュフロー分析のガイド
• PER（株価収益率） — 株価収益率の理解
• 本質的価値 — 株式の適正株価を評価する方法