UnitedHealth Group

UnitedHealth’s financial position is strong. It generated $24.2 billion of operating cash flow in 2024 (1.6× its net income), reflecting robust free cash generation. The company can comfortably digest short-term losses and fund growth initiatives.

Debt levels are significant ($200 billion range), but assets and equity are also large (D/E around 2×), and interest coverage is very high given its cash flow. Fuelled by consistent profits and cash flow, UNH has maintained high credit ratings. It possesses ample liquidity (tens of billions in cash) to handle downturns.

For instance, its $24B cash flow could cover ~$75B debt many times over. This resilience was evident through the early-2020s pandemic: UnitedHealth was unpopular on Covid (with lower claims), yet it never threatened solvency.

Overall we score financial strength highly: no imminent debt risks, healthy cash reserves, and the balance sheet can easily absorb the kind of cyclical loss seen in 2025.