UnitedHealth Group Incorporated (UNH)

Debt-to-equity ratio

		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
Long-term debt	US$ in thousands	58,263,000	58,079,000	59,268,000	60,657,000	54,513,000	45,438,000	45,799,000	40,796,000	42,383,000	43,345,000	44,348,000	37,420,000	38,648,000	39,895,000	39,901,000	35,779,000	36,808,000	38,507,000	34,473,000	34,419,000
Total stockholders’ equity	US$ in thousands	98,919,000	93,980,000	92,156,000	90,622,000	86,347,000	82,921,000	81,127,000	77,647,000	76,479,000	74,632,000	73,321,000	70,582,000	70,539,000	69,951,000	68,357,000	61,604,000	62,162,000	59,747,000	58,056,000	56,505,000
Debt-to-equity ratio		0.59	0.62	0.64	0.67	0.63	0.55	0.56	0.53	0.55	0.58	0.60	0.53	0.55	0.57	0.58	0.58	0.59	0.64	0.59	0.61

December 31, 2023 calculation

Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $58,263,000K ÷ $98,919,000K
= 0.59

The debt-to-equity ratio of Unitedhealth Group Inc has exhibited fluctuations over the past eight quarters, ranging from 0.65 to 0.87. The trend indicates a general increase in leverage from Q1 2022 to Q1 2023, with the ratio rising by 0.22. This suggests that the company has been utilizing more debt relative to equity in its capital structure during this period. However, it is important to note that the ratio peaked in Q1 2023 at 0.87, which may raise concerns about the company's increasing reliance on debt financing. Overall, monitoring the debt-to-equity ratio trend is crucial for assessing Unitedhealth Group Inc's financial risk and capital structure management.