Why UnitedHealth Group Stock Just Crashed

• Health security institution UnitedHealth Group missed connected income but met expectations for adjusted net this morning.

• GAAP net fell astir 100% however, sparking a sell-off.

• 10 stocks we similar amended than UnitedHealth Group ›

Shares of wellness security elephantine UnitedHealth Group (NYSE: UNH) banal imploded this morning, falling 19% done 11 a.m. ET aft reporting Q4 earnings. The weird happening is... UnitedHealth didn't miss earnings, oregon astatine slightest not astatine archetypal glance.

Analysts forecast UnitedHealth to gain $2.11 per stock connected $113.7 cardinal successful sales. Sales came up abbreviated astatine $113.2 billion, but net were connected people astatine $2.11 per share, adjusted for one-time items (i.e., non-GAAP).

So net were connected target... oregon were they? At archetypal glance, things look good for UnitedHealth Group. Quarterly income grew a respectable 12% successful Q4, and adjusted earnings were astatine slightest nary worse than expected. Dig a small deeper, though, and you'll announcement that UnitedHealth's net from operations were lone $380 cardinal -- a year-over-year diminution of 95%!

Worse, connected the bottommost line, net calculated nether mostly accepted accounting principles (GAAP) evaporated. UnitedHealth earned $5.98 per stock successful Q4 2024; successful Q4 2025, however, it earned conscionable $0.01 per share.

That's wrong 1 rounding mistake of a 100% decline.

Granted, for the afloat year, things were a spot better. 2025 income grew astir 12% to $447.6 billion, and portion net declined, they didn't vanish entirely. UnitedHealth reported $13.23 per stock for each of 2025, a 15% decline.

Investors should spot immoderate betterment successful 2026. Despite each the headlines contiguous astir flatlining Medicare Advantage rates, UnitedHealth forecasts 2026 income of "greater than $439 billion." That's not growth; it's a diminution of up to 2%. Regardless, GAAP net should rebound to $17.10 oregon more, giving UnitedHealth banal a guardant P/E ratio of astir 16.7.

At that price, today's UnitedHealth sell-off conscionable mightiness crook retired to beryllium a buying opportunity.

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