AFLAC INC vs UnitedHealth Group Incorporated, two Managed Care stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
Aflac sells policies that pay cash when illness strikes; UnitedHealth runs the medical system itself, insurer, clinics, pharmacy benefits, at $389B of scale. The small supplement writer has the enviable income statement, a 25.6% net margin against 2.7%, because it pays claims in dollars while UnitedHealth pays them in care. The market prices UnitedHealth's scale and rebound at 32.2 times earnings against Aflac's 13.7, a striking premium for a franchise mid-repair against one that needs none. Both pay 2% dividends. Returns on equity, 15.5% against 11.6%, side with the smaller company. The premium multiple is buying the recovery and the moat; the discount multiple is selling nothing but its own steadiness.
Comparison updated 2026-07-10.
| Metric | AFL | UNH |
|---|---|---|
| Price | $120.07 | $427.44 |
| Market cap | $61.8B | $389.0B |
| Sector | Managed Care | Managed Care |
| Stage | Mature | Mature |
| P/E | 13.7 | 32.2 |
| P/B | 2.06 | 3.74 |
| P/S | 3.41 | 0.86 |
| EV/EBITDA | — | 18.9 |
| Revenue growth | +14.9% | +9.8% |
| Operating margin | — | 8.1% |
| Net margin | 25.6% | 2.7% |
| Return on equity | 15.5% | 11.6% |
| Return on assets | 4.0% | 3.9% |
| Return on invested capital | — | 8.4% |
| FCF yield | 4.8% | 5.1% |
| Dividend yield | 2.0% | 2.0% |
| Debt / equity | 0.26 | 0.75 |
| Current ratio | — | 0.80 |
| Altman Z (solvency) | 1.26 | 3.02 |
| Piotroski F (quality) | 7 / 9 | 6 / 9 |
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The stronger value is highlighted per metric where one is strictly better on that single number; it is not an overall verdict on either company. For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.