UNH P/B: current value, 10-year range and year-by-year history
Cash & Leverage
P/B History
Historically priceyAbove avgAround avgBelow avgHistorically cheap
UNH P/B by year
Yearly range of UNH’s p/b from 2016 to 2026. Over the full period it ranged from 2.1 to 6.7, averaging 4.6.
| Year | Low | Average | High | Year-end |
|---|---|---|---|---|
| 2026 | 2.3 | 3.1 | 3.7 | 3.2 |
| 2025 | 2.1 | 3.4 | 5.2 | 3.0 |
| 2024 | 4.2 | 5.0 | 5.7 | 4.6 |
| 2023 | 4.6 | 5.2 | 5.7 | 5.2 |
| 2022 | 5.6 | 6.1 | 6.7 | 6.1 |
| 2021 | 4.4 | 5.3 | 6.5 | 6.3 |
| 2020 | 3.0 | 4.4 | 4.9 | 4.8 |
| 2019 | 3.5 | 4.2 | 4.8 | 4.5 |
| 2018 | 4.0 | 4.6 | 5.2 | 4.4 |
| 2017 | 3.5 | 4.0 | 4.6 | 4.4 |
| 2016 | 3.4 | 3.8 | 4.0 | 3.9 |
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How much the market pays relative to the company's accounting net worth (assets minus liabilities). P/B < 1 means the market values the company below what the books say it owns.
Formula
Price / Book Value Per ShareHow to read this chart
Most useful for asset-heavy businesses: banks, insurers, REITs. A P/B near its historical low suggests the market is paying unusually little for the net assets.
Key caveats
- Goodwill and intangibles from acquisitions can inflate book value significantly — some analysts prefer tangible book value.
- Low P/B in technology or software companies is usually irrelevant: their value is in IP and people, not balance sheet assets.
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