UnitedHealth Group Incorporated (UNH)

Activity ratios

Short-term

Turnover ratios

	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Inventory turnover	34.78	—	—	—	24.25	—	—	—	26.45	—	—	—	—	—	—	—	—	—	—	—
Receivables turnover	9.54	9.37	10.23	9.05	10.65	10.25	9.84	9.64	10.24	9.89	10.00	9.55	10.12	9.94	10.34	9.90	11.28	11.35	12.98	11.31
Payables turnover	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Working capital turnover	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—

Based on the provided data, it appears that Unitedhealth Group Inc does not have available information for inventory turnover and payables turnover for the periods specified.

The receivables turnover ratio for Unitedhealth Group Inc has shown some fluctuations over the past eight quarters, ranging from a low of 9.05 in Q1 2023 to a high of 10.65 in Q4 2022. This ratio indicates how efficiently the company is collecting on its credit sales, with a higher ratio suggesting a more efficient collection process. Overall, the company seems to have a relatively stable performance in terms of receivables turnover.

Unfortunately, there is no available data for the working capital turnover ratio for Unitedhealth Group Inc for the periods specified, so we are unable to provide an analysis on this metric. It is worth noting that the working capital turnover ratio reflects the efficiency of the company in generating revenue from its working capital.

In conclusion, while Unitedhealth Group Inc demonstrates consistent performance in terms of receivables turnover over the specified quarters, there is a lack of available data for inventory turnover, payables turnover, and working capital turnover, which limits a more comprehensive analysis of the company's activity ratios.

Average number of days

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Days of inventory on hand (DOH)	days	10.50	—	—	—	15.05	—	—	—	13.80	—	—	—	—	—	—	—	—	—	—	—
Days of sales outstanding (DSO)	days	38.28	38.96	35.70	40.32	34.29	35.60	37.10	37.86	35.64	36.89	36.51	38.21	36.06	36.71	35.31	36.89	32.35	32.16	28.12	32.27
Number of days of payables	days	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—

Days of inventory on hand (DOH) data is not available for the periods presented, so we cannot evaluate the efficiency of Unitedhealth Group Inc in managing its inventory levels over time.

Days of sales outstanding (DSO) decreased slightly from 38.96 days in Q3 2023 to 38.28 days in Q4 2023, indicating a favorable trend in collecting accounts receivable more promptly. Compared to the previous year, DSO in Q4 2023 was higher than in Q4 2022 (34.29 days), which suggests a potential deterioration in the collections process.

The number of days of payables data is not provided for the periods shown, preventing an analysis of how long Unitedhealth Group Inc takes to pay its suppliers.

Overall, the trend in DSO indicates an improvement in accounts receivable management efficiency in the current quarter compared to the previous quarter, but there may be room for further enhancement compared to the same period last year. The lack of DOH and payables data limits a more comprehensive analysis of Unitedhealth Group Inc's activity ratios.

Long-term

	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Fixed asset turnover	32.46	32.52	31.90	31.58	32.01	33.28	32.54	32.40	32.07	32.00	31.15	30.95	29.81	30.99	30.50	30.13	27.82	28.19	27.17	28.11
Total asset turnover	1.36	1.28	1.24	1.18	1.32	1.30	1.33	1.34	1.36	1.31	1.29	1.28	1.30	1.32	1.29	1.30	1.39	1.38	1.41	1.44

Unitedhealth Group Inc's fixed asset turnover ratio has been consistently high and stable over the past eight quarters, ranging between 31.58 and 32.52. This indicates that the company is efficiently utilizing its fixed assets to generate revenue. A high fixed asset turnover ratio suggests that Unitedhealth Group is effectively managing and using its property, plant, and equipment to drive sales.

On the other hand, the total asset turnover ratio has shown some variability, ranging from 1.18 to 1.36 over the same period. This ratio measures how efficiently the company is generating revenue from its total assets. A higher total asset turnover ratio indicates that Unitedhealth Group is effectively utilizing all its assets to generate sales.

Overall, both the fixed asset turnover and total asset turnover ratios of Unitedhealth Group Inc suggest that the company is effectively managing its assets to generate revenue. The stability of the fixed asset turnover ratio, combined with a fluctuating but generally healthy total asset turnover ratio, indicate efficient asset management practices within the company.