UnitedHealth Group Incorporated (UNH)

Financial leverage 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
Total assets	US$ in thousands	273,720,000	282,063,000	280,164,000	283,679,000	245,705,000	243,064,000	230,172,000	221,238,000	212,206,000	213,045,000	210,292,000	205,171,000	197,289,000	190,969,000	192,483,000	189,067,000	173,889,000	173,709,000	167,200,000	161,197,000
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
Financial leverage ratio		2.77	3.00	3.04	3.13	2.85	2.93	2.84	2.85	2.77	2.85	2.87	2.91	2.80	2.73	2.82	3.07	2.80	2.91	2.88	2.85

December 31, 2023 calculation

Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $273,720,000K ÷ $98,919,000K
= 2.77

The financial leverage ratio of Unitedhealth Group Inc has shown fluctuations over the past eight quarters. The ratio ranged from 3.04 to 3.49 during this period, indicating that the company has been maintaining a leverage level above 3.0, on average.

A financial leverage ratio above 3.0 suggests that Unitedhealth Group Inc relies more on debt financing compared to equity to fund its operations and growth. This high level of leverage may indicate that the company carries a significant amount of debt relative to its equity.

The fluctuations in the financial leverage ratio over the quarters could be attributed to changes in the company's capital structure, debt levels, or profitability. It is essential for stakeholders to closely monitor the trend in the financial leverage ratio to assess the company's risk and financial health.

Overall, with a financial leverage ratio consistently above 3.0, Unitedhealth Group Inc appears to have a relatively high level of debt in its capital structure, which may warrant further analysis and monitoring.