UnitedHealth Group (UNH) Stock Inflation-Adjusted

UnitedHealth Group Incorporated (UNH) is a diversified healthcare company that provides a wide range of health insurance products and services through its UnitedHealthcare and Optum platforms.

Understanding a stock’s true value requires looking beyond its market price to see how it performs against inflation. This page adjusts UnitedHealth's historical stock prices using the US Consumer Price Index to reveal its real, inflation-adjusted growth. Explore the charts and data to see the difference between its nominal performance and its actual value over time.

Nominal prices are adjusted for stock splits and assume reinvestment of any dividends to reflect total return. Inflation-adjusted prices use July 2026 as the baseline (latest available CPI).

The current value of UnitedHealth Group stock is 401.73 (as of the close of Aug 14, 2026), 33.04% lower than the all-time high of 599.93 (Nov 11, 2024).

Since April 8, 1985, the inflation-adjusted total return for the stock has been 88,104%, which is equivalent to an annual growth rate of 17.82%.

In nominal values, the total return since this date has been 275,419%, or an annualized rate of 21.11%.

Inflation-Adjusted Values by Month

This data presents UnitedHealth's end-of-month closing levels over time. The inflation-adjusted column shows what each past level would represent in roughly today's dollars based on the latest CPI reading, following the same present-value method that underlies the US Inflation Calculator. The newest row will show matching nominal and adjusted values until another CPI update becomes available.

Date Inflation-Adjusted Nominal value
Aug 2026 401.73 401.73
Jul 2026 414.4 414.4
Jun 2026 415.59 415.63
May 2026 376.8 378.16
Apr 2026 369.38 368.39
Mar 2026 272.08 269.06
Feb 2026 295.7 289.38
Jan 2026 290.67 283.13
Dec 2025 335.65 325.73
Nov 2025 333.01 323.24
Oct 2025 334.8 334.8
Sep 2025 347.96 338.46
Aug 2025 311.1 301.84
Jul 2025 251.27 243.09
Jun 2025 314.59 303.89
May 2025 303.34 292.03
Apr 2025 414.25 397.97
Mar 2025 528.97 506.61
Feb 2025 478.74 457.47
Jan 2025 549.23 522.51
Dec 2024 515.5 487.23
Nov 2024 619.68 585.49
Oct 2024 572.96 541.64
Sep 2024 594.13 561
Aug 2024 598.58 564.31
Jul 2024 584.82 550.88
Jun 2024 517.52 486.92
May 2024 501.45 471.64
Apr 2024 490.45 460.53
Mar 2024 503.56 471.01
Feb 2024 503.71 468.12
Jan 2024 525.45 485.32
Dec 2023 543.52 499.29
Nov 2023 568.38 522.65
Oct 2023 549.38 506.19
Sep 2023 517 476.54
Aug 2023 488.01 448.71
Jul 2023 520.78 476.76
Jun 2023 495.26 452.53
May 2023 501.63 456.88
Apr 2023 507.9 461.42
Mar 2023 490.24 443.14
Feb 2023 493.6 444.7
Jan 2023 520.6 466.43
Dec 2022 557.34 495.38
Nov 2022 572.29 510.24
Oct 2022 579.43 517.12
Sep 2022 529.27 470.45
Aug 2022 543.71 482.25
Jul 2022 567.6 503.62
Jun 2022 537.49 476.96
May 2022 525.13 459.68
Apr 2022 543.5 470.57
Mar 2022 548.06 471.88
Feb 2022 516.72 439.03
Jan 2022 517.82 435.99
Dec 2021 554.85 463.27
Nov 2021 490.76 408.5
Oct 2021 511.22 423.45
Sep 2021 437.41 359.32
Aug 2021 465.62 381.47
Jul 2021 462.04 377.76
Jun 2021 451 366.96
May 2021 466.54 376.11
Apr 2021 455.3 364.13
Mar 2021 428.27 339.72
Feb 2021 383.75 302.27
Jan 2021 387.43 303.5
Dec 2020 409.03 319.06
Nov 2020 391.27 304.92
Oct 2020 354.76 276.64
Sep 2020 362.61 282.65
Aug 2020 362.54 282.2
Jul 2020 352.31 273.38
Jun 2020 344.94 266.31
May 2020 356.94 274.07
Apr 2020 342.45 262.94
Mar 2020 290.04 224.2
Feb 2020 294.62 228.23
Jan 2020 315.69 243.89
Dec 2019 341.96 263.16
Nov 2019 324.01 249.58
Oct 2019 292.4 225.35
Sep 2019 252.03 193.8
Aug 2019 270.32 207.7
Jul 2019 287.65 221.02
Jun 2019 282.34 216.58
May 2019 278.61 213.68
Apr 2019 269.13 205.96
Mar 2019 287.02 218.5
Feb 2019 281.69 213.24
Jan 2019 315.55 237.87
Dec 2018 291.49 219.31
Nov 2018 328.16 247.69
Oct 2018 302.84 229.35
Sep 2018 308.82 233.46
Aug 2018 310.94 234.8
Jul 2018 293.45 221.47
Jun 2018 284.34 214.58
May 2018 279.36 210.48
Apr 2018 274.59 206.03
Mar 2018 249.56 186.51
Feb 2018 263.47 196.46
Jan 2018 277.09 205.68
Dec 2017 259.4 191.51
Nov 2017 268.31 198.2
Oct 2017 246.38 182
Sep 2017 229.39 169.56
Aug 2017 233.32 171.55
Jul 2017 225.67 165.44
Jun 2017 218.01 159.92
May 2017 205.31 150.47
Apr 2017 205.13 150.22
Mar 2017 192.95 140.88
Feb 2017 194 141.53
Jan 2017 190.75 138.72
Dec 2016 189.43 136.96
Nov 2016 187.45 135.49
Oct 2016 166.41 120.47
Sep 2016 165.05 119.34
Aug 2016 160.05 115.44
Jul 2016 168.61 121.51
Jun 2016 165.99 119.81
May 2016 156.94 112.91
Apr 2016 155.23 111.23
Mar 2016 152.67 108.88
Feb 2016 141.09 100.19
Jan 2016 136.54 96.87
Dec 2015 139.71 98.96
Nov 2015 132.83 94.41
Oct 2015 138.51 98.65
Sep 2015 136.37 97.17
Aug 2015 135.21 96.5
Jul 2015 141.67 101.25
Jun 2015 142.38 101.75
May 2015 140.19 99.84
Apr 2015 130.58 92.52
Mar 2015 138.93 98.24
Feb 2015 133.81 94.06
Jan 2015 125.66 87.95
Dec 2014 119 83.68
Nov 2014 115.01 81.34
Oct 2014 110.19 78.35
Sep 2014 99.78 71.13
Aug 2014 99.93 71.18
Jul 2014 93.28 66.56
Jun 2014 94.05 67.13
May 2014 91.36 65.09
Apr 2014 86.39 61.33
Mar 2014 94.7 67.02
Feb 2014 89.5 62.93
Jan 2014 84.03 58.87
Dec 2013 87.87 61.33
Nov 2013 86.58 60.43
Oct 2013 79.18 55.38
Sep 2013 82.86 58.1
Aug 2013 82.79 57.99
Jul 2013 84.18 58.89
Jun 2013 75.69 52.93
May 2013 71.94 50.18
Apr 2013 68.96 48.02
Mar 2013 65.76 45.84
Feb 2013 61.36 42.66
Jan 2013 63.9 44.07
Dec 2012 62.96 43.29
Nov 2012 62.72 43.24
Oct 2012 64.27 44.52
Sep 2012 63.57 44.05
Aug 2012 62.32 43
Jul 2012 58.96 40.46
Jun 2012 67.41 46.32
May 2012 63.93 44
Apr 2012 64.29 44.3
Mar 2012 67.69 46.5
Feb 2012 64.32 43.86
Jan 2012 60.02 40.74
Dec 2011 58.99 39.87
Nov 2011 56.44 38.24
Oct 2011 55.49 37.62
Sep 2011 53.22 36.16
Aug 2011 54.73 37.13
Jul 2011 57.31 38.78
Jun 2011 59.62 40.3
May 2011 56.33 38.12
Apr 2011 56.92 38.34
Mar 2011 52.6 35.2
Feb 2011 49.89 33.06
Jan 2011 48.33 31.88
Dec 2010 42.72 28.04
Nov 2010 43.14 28.27
Oct 2010 42.6 27.9
Sep 2010 41.54 27.17
Aug 2010 37.41 24.46
Jul 2010 35.97 23.48
Jun 2010 33.55 21.9
May 2010 34.17 22.32
Apr 2010 35.65 23.28
Mar 2010 38.46 25.07
Feb 2010 40.02 25.98
Jan 2010 39.02 25.32
Dec 2009 36.16 23.39
Nov 2009 33.95 22
Oct 2009 30.75 19.91
Sep 2009 29.7 19.21
Aug 2009 33.24 21.48
Jul 2009 33.38 21.53
Jun 2009 29.67 19.17
May 2009 31.87 20.41
Apr 2009 28.26 18.05
Mar 2009 25.21 16.06
Feb 2009 23.69 15.05
Jan 2009 34.32 21.7
Dec 2008 32.37 20.38
Nov 2008 25.3 16.1
Oct 2008 28.03 18.18
Sep 2008 29.69 19.45
Aug 2008 35.56 23.33
Jul 2008 32.66 21.51
Jun 2008 30.69 20.11
May 2008 40.4 26.21
Apr 2008 38.86 25
Mar 2008 41.17 26.32
Feb 2008 56.12 35.58
Jan 2008 61.56 38.92
Dec 2007 70.83 44.55
Nov 2007 66.89 42.1
Oct 2007 60.13 37.62
Sep 2007 59.37 37.07
Aug 2007 61.48 38.28
Jul 2007 59.43 37.07
Jun 2007 62.74 39.15
May 2007 67.32 41.92
Apr 2007 65.62 40.62
Mar 2007 65.93 40.55
Feb 2007 65.5 39.92
Jan 2007 65.95 39.98
Dec 2006 68.02 41.11
Nov 2006 62.22 37.55
Oct 2006 61.75 37.32
Sep 2006 61.94 37.64
Aug 2006 65.09 39.74
Jul 2006 60.04 36.59
Jun 2006 56.38 34.26
May 2006 55.46 33.63
Apr 2006 63.06 38.05
Mar 2006 71.42 42.73
Feb 2006 74.86 44.55
Jan 2006 76.55 45.46
Dec 2005 80.66 47.54
Nov 2005 77.39 45.8
Oct 2005 74.24 44.29
Sep 2005 72.22 43
Aug 2005 66.99 39.4
Jul 2005 68.38 40.01
Jun 2005 68.48 39.89
May 2005 63.84 37.17
Apr 2005 62.03 36.15
Mar 2005 63.03 36.48
Feb 2005 60.69 34.86
Jan 2005 59.53 33.99
Dec 2004 59.07 33.66
Nov 2004 55.39 31.68
Oct 2004 48.43 27.69
Sep 2004 49.58 28.2
Aug 2004 44.56 25.29
Jul 2004 42.41 24.05
Jun 2004 41.9 23.8
May 2004 44.06 24.95
Apr 2004 41.76 23.51
Mar 2004 43.91 24.64
Feb 2004 42.5 23.7
Jan 2004 41.95 23.27
Dec 2003 40.29 22.24
Nov 2003 37.29 20.6
Oct 2003 35.1 19.45
Sep 2003 34.68 19.23
Aug 2003 34.17 18.89
Jul 2003 36.15 19.91
Jun 2003 34.91 19.21
May 2003 33.36 18.33
Apr 2003 31.99 17.61
Mar 2003 31.76 17.52
Feb 2003 28.88 15.84
Jan 2003 30.86 16.79
Dec 2002 29.45 15.95
Nov 2002 28.66 15.56
Oct 2002 32 17.38
Sep 2002 30.74 16.66
Aug 2002 31.19 16.88
Jul 2002 31.05 16.75
Jun 2002 32.46 17.49
May 2002 32.22 17.35
Apr 2002 31.15 16.78
Mar 2002 27.27 14.6
Feb 2002 26 13.84
Jan 2002 26.77 14.2
Dec 2001 25.54 13.51
Nov 2001 25.68 13.64
Oct 2001 23.59 12.56
Sep 2001 23.78 12.7
Aug 2001 24.45 13
Jul 2001 24.22 12.87
Jun 2001 22.12 11.79
May 2001 20.63 10.98
Apr 2001 23.6 12.5
Mar 2001 21.45 11.32
Feb 2001 21.47 11.3
Jan 2001 20.53 10.77
Dec 2000 22.48 11.71
Nov 2000 21.47 11.2
Oct 2000 20.03 10.44
Sep 2000 18.12 9.42
Aug 2000 17.43 9.02
Jul 2000 15.09 7.81
Jun 2000 15.85 8.18
May 2000 13.85 7.12
Apr 2000 12.41 6.36
Mar 2000 11.1 5.69
Feb 2000 9.59 4.88
Jan 2000 10 5.06
Dec 1999 10.05 5.07
Nov 1999 9.83 4.95
Oct 1999 9.79 4.93
Sep 1999 9.24 4.64
Aug 1999 11.59 5.8
Jul 1999 11.65 5.82
Jun 1999 12 5.97
May 1999 11.17 5.56
Apr 1999 10.76 5.35
Mar 1999 10.16 5.02
Feb 1999 9.54 4.7
Jan 1999 8.67 4.27
Dec 1998 8.36 4.1
Nov 1998 8.76 4.3
Oct 1998 8.35 4.1
Sep 1998 6.81 3.34
Aug 1998 7.04 3.44
Jul 1998 11.02 5.39
Jun 1998 12.44 6.07
May 1998 12.51 6.1
Apr 1998 13.76 6.7
Mar 1998 12.71 6.17
Feb 1998 11.93 5.78
Jan 1998 10.09 4.88
Dec 1997 9.8 4.73
Nov 1997 10.26 4.96
Oct 1997 9.12 4.41
Sep 1997 9.87 4.76
Aug 1997 9.62 4.63
Jul 1997 11.3 5.43
Jun 1997 10.32 4.95
May 1997 11.23 5.38
Apr 1997 9.66 4.63
Mar 1997 9.46 4.53
Feb 1997 9.96 4.76
Jan 1997 9.74 4.64
Dec 1996 9.02 4.28
Nov 1996 8.65 4.11
Oct 1996 7.58 3.59
Sep 1996 8.39 3.96
Aug 1996 7.81 3.68
Jul 1996 6.84 3.21
Jun 1996 10.25 4.81
May 1996 11.14 5.23
Apr 1996 11.9 5.57
Mar 1996 12.56 5.86
Feb 1996 13.37 6.2
Jan 1996 12.92 5.98
Dec 1995 13.54 6.23
Nov 1995 13.02 5.99
Oct 1995 10.99 5.06
Sep 1995 10.14 4.65
Aug 1995 8.79 4.02
Jul 1995 9.38 4.28
Jun 1995 8.63 3.94
May 1995 7.78 3.55
Apr 1995 7.61 3.46
Mar 1995 9.82 4.45
Feb 1995 9.06 4.09
Jan 1995 10.26 4.62
Dec 1994 9.58 4.3
Nov 1994 10.12 4.53
Oct 1994 11.22 5.02
Sep 1994 11.28 5.05
Aug 1994 11.15 4.98
Jul 1994 9.75 4.33
Jun 1994 9.69 4.3
May 1994 10.37 4.58
Apr 1994 8.95 3.95
Mar 1994 9.23 4.07
Feb 1994 8.95 3.93
Jan 1994 9.3 4.07
Dec 1993 8.27 3.61
Nov 1993 7.89 3.45
Oct 1993 7.62 3.33
Sep 1993 7.52 3.27
Aug 1993 6.51 2.82
Jul 1993 6.95 3.01
Jun 1993 7.07 3.06
May 1993 6.59 2.84
Apr 1993 5.96 2.57
Mar 1993 5.7 2.45
Feb 1993 4.92 2.11
Jan 1993 7.19 3.07
Dec 1992 6.37 2.71
Nov 1992 6.1 2.59
Oct 1992 5.84 2.48
Sep 1992 5.65 2.39
Aug 1992 4.81 2.03
Jul 1992 5.21 2.19
Jun 1992 4.71 1.98
May 1992 5.05 2.11
Apr 1992 4.36 1.82
Mar 1992 4.52 1.89
Feb 1992 4.59 1.9
Jan 1992 4.79 1.98
Dec 1991 4.29 1.77
Nov 1991 3.47 1.43
Oct 1991 3.7 1.52
Sep 1991 3.13 1.29
Aug 1991 3 1.23
Jul 1991 2.93 1.2
Jun 1991 2.62 1.07
May 1991 2.87 1.17
Apr 1991 2.32 0.94
Mar 1991 2.31 0.93
Feb 1991 1.78 0.72
Jan 1991 1.62 0.65
Dec 1990 1.38 0.55
Nov 1990 1.2 0.48
Oct 1990 1.05 0.42
Sep 1990 0.97 0.38
Aug 1990 1.03 0.41
Jul 1990 1.16 0.45
Jun 1990 1.06 0.41
May 1990 0.93 0.36
Apr 1990 0.66 0.26
Mar 1990 0.6 0.23
Apr 1985 0.46 0.15

Returns from Investing in UnitedHealth Group stock

How much did an investment in UnitedHealth really grow each year after accounting for inflation? The following chart contains the inflation-adjusted real annual percentage returns.

Detailed Annual Returns (Adjusted vs. Nominal)

The table below shows the returns for UnitedHealth Group stock by year, both inflation-adjusted and nominal. You can sort any column by clicking on the header.

Observe how inflation erodes nominal gains, sometimes resulting in a negative real return even when the stock price nominally increased, as in 2023.

Year Inflation-Adjusted Return Nominal Return
2024 -5.16% -2.42%
2023 -2.48% 0.79%
2022 0.45% 6.93%
2021 35.65% 45.2%
2020 19.61% 21.24%
2019 17.31% 19.99%
2018 12.37% 14.52%
2017 36.94% 39.83%
2016 35.59% 38.4%
2015 17.41% 18.26%
2014 35.42% 36.45%
2013 39.56% 41.65%
2012 6.73% 8.59%
2011 38.09% 42.18%
2010 18.14% 19.91%
2009 11.71% 14.75%
2008 -54.3% -54.26%
2007 4.13% 8.38%
2006 -15.68% -13.53%
2005 36.56% 41.22%
2004 46.61% 51.38%
2003 36.83% 39.4%
2002 15.29% 18.04%
2001 13.61% 15.37%
2000 123.61% 131.18%
1999 20.21% 23.44%
1998 -14.67% -13.29%
1997 8.64% 10.49%
1996 -33.38% -31.17%
1995 41.29% 44.88%
1994 15.85% 18.95%
1993 29.84% 33.41%
1992 48.38% 52.68%
1991 210.9% 220.43%
1990 257.75% 279.59%

Unitedhealth Group Stock: Average Annualized Returns

Annualized returns show the average rate of growth per year, making it easier to compare performance across different time periods. While nominal returns indicate the headline growth, adjusting for inflation reveals the actual change in purchasing power.

This table presents both nominal and inflation-adjusted average annual returns for UnitedHealth over various trailing periods ending July 31, 2026, offering a clearer view of long-term, real investment performance.

Period Avg. Annual Return (Inflation-Adjusted) Avg. Annual Return (Nominal)
Last 1 year 64.92% 70.47%
Last 3 years -7.33% -4.56%
Last 5 years -2.15% 1.87%
Last 10 years 9.41% 13.05%
Last 20 years 10.14% 12.9%
Last 30 years 14.66% 17.58%

Real Returns of Investing in the UnitedHealth

The chart and table below show the nominal and inflation-adjusted value of a hypothetical $100 investment over various long-term historical periods, ending in September 2025.

The inflation-adjusted line, in green, represents the real increase in purchasing power for the initial investment. Observe the gap between both lines, which illustrates the cumulative effect of inflation over time.

Even over just five years, inflation takes a noticeable bite out of investments. Investing $100 in the UnitedHealth five years ago yielded an 11.97% nominal gain, but the real return (the actual increase in buying power) was -9.33%.

As investment periods get longer, the difference between reported nominal returns and the inflation-adjusted gains usually becomes much greater due to the compounding effect of inflation over time.

Investment Period What $100 Grew To (Nominal) Total Nominal Return (%) Total Inflation-Adjusted Return (%)
Last 5 years Feb 2021 - Sep 2025 $111.97 11.97% -9.33%
Last 10 years Feb 2016 - Sep 2025 $337.82 237.82% 146.62%
Last 25 years Feb 2001 - Sep 2025 $2,993.94 2,894% 1,520%

Inflation in UnitedHealth's Operations

As a key player in the healthcare sector, UnitedHealth Group is moderately impacted by inflation, which affects both its costs and revenue streams.

  • Medical Cost Inflation: The primary challenge comes from rising healthcare prices, including hospital services, physician fees and prescription drugs, which directly increase the company's claim expenses.
  • Labor Costs: Wage inflation for clinical, technological and administrative staff can elevate operational overhead across both its insurance and health services segments.
  • Administrative Expenses: General operational costs, such as technology infrastructure and office leases, are also subject to inflationary pressures.

UnitedHealth mitigates these pressures by negotiating favorable rates with healthcare providers, adjusting insurance premiums annually and leveraging its Optum division's data analytics to improve cost efficiency and care management. The company's scale provides significant bargaining power, helping to control costs more effectively than smaller competitors.

About UnitedHealth

UnitedHealth Group Inc. is a global leader in healthcare, organized into two main business platforms: UnitedHealthcare, which focuses on health benefits, and Optum, which offers health services.

UnitedHealthcare provides health coverage to a wide range of clients and is one of the largest health insurers in the US. Optum delivers technology-driven health services, including data analytics, pharmacy care services (OptumRx) and population health management.

Headquartered in Minnetonka, Minnesota, UnitedHealth Group is a major component of the Dow Jones Industrial Average and the S&P 500, reflecting its significant role in the US healthcare system.

Last Close
Aug 14, 2026
401.73
Highest
Nov 11, 2024
599.93
Highest, Inflation-Adjusted
Nov 11, 2024
634.97
Annualized return
Since Apr 8, 1985
21.11%
Annualized return, Inflation-Adjusted
Since Apr 8, 1985
17.82%

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Other Inflation-Adjusted Data