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 May 2026 as the baseline (latest available CPI).

The current value of UnitedHealth Group stock is 407.65 (as of the close of Jun 16, 2026), 32.43% lower than the all-time high of 603.34 (Nov 11, 2024).

Since April 8, 1985, the inflation-adjusted total return for the stock has been 88,579%, which is equivalent to an annual growth rate of 17.91%.

In nominal values, the total return since this date has been 277,900%, or an annualized rate of 21.23%.

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
Jun 2026 407.65 407.65
May 2026 380.31 380.31
Apr 2026 372.82 370.48
Mar 2026 274.61 270.59
Feb 2026 298.45 291.02
Jan 2026 293.37 284.73
Dec 2025 338.77 327.58
Nov 2025 336.11 325.07
Oct 2025 336.7 336.7
Sep 2025 351.2 340.38
Aug 2025 314 303.55
Jul 2025 253.61 244.47
Jun 2025 317.51 305.61
May 2025 306.16 293.69
Apr 2025 418.11 400.23
Mar 2025 533.9 509.48
Feb 2025 483.19 460.07
Jan 2025 554.35 525.48
Dec 2024 520.3 490
Nov 2024 625.45 588.81
Oct 2024 578.3 544.72
Sep 2024 599.66 564.19
Aug 2024 604.16 567.51
Jul 2024 590.26 554.01
Jun 2024 522.33 489.68
May 2024 506.12 474.32
Apr 2024 495.02 463.15
Mar 2024 508.25 473.68
Feb 2024 508.4 470.78
Jan 2024 530.34 488.08
Dec 2023 548.58 502.13
Nov 2023 573.67 525.62
Oct 2023 554.49 509.07
Sep 2023 521.81 479.25
Aug 2023 492.55 451.26
Jul 2023 525.63 479.46
Jun 2023 499.87 455.1
May 2023 506.3 459.47
Apr 2023 512.63 464.04
Mar 2023 494.8 445.66
Feb 2023 498.19 447.23
Jan 2023 525.45 469.08
Dec 2022 562.53 498.2
Nov 2022 577.62 513.14
Oct 2022 584.82 520.06
Sep 2022 534.19 473.12
Aug 2022 548.77 484.99
Jul 2022 572.88 506.48
Jun 2022 542.49 479.67
May 2022 530.02 462.29
Apr 2022 548.56 473.24
Mar 2022 553.16 474.56
Feb 2022 521.53 441.53
Jan 2022 522.64 438.46
Dec 2021 560.02 465.9
Nov 2021 495.33 410.82
Oct 2021 515.98 425.85
Sep 2021 441.48 361.36
Aug 2021 469.96 383.63
Jul 2021 466.35 379.9
Jun 2021 455.2 369.04
May 2021 470.88 378.24
Apr 2021 459.54 366.2
Mar 2021 432.26 341.65
Feb 2021 387.33 303.98
Jan 2021 391.04 305.23
Dec 2020 412.83 320.88
Nov 2020 394.91 306.65
Oct 2020 358.06 278.21
Sep 2020 365.99 284.25
Aug 2020 365.91 283.8
Jul 2020 355.59 274.93
Jun 2020 348.15 267.82
May 2020 360.26 275.63
Apr 2020 345.64 264.43
Mar 2020 292.74 225.47
Feb 2020 297.36 229.53
Jan 2020 318.63 245.27
Dec 2019 345.14 264.66
Nov 2019 327.02 250.99
Oct 2019 295.12 226.63
Sep 2019 254.38 194.9
Aug 2019 272.84 208.88
Jul 2019 290.33 222.27
Jun 2019 284.97 217.81
May 2019 281.21 214.89
Apr 2019 271.63 207.13
Mar 2019 289.69 219.74
Feb 2019 284.31 214.45
Jan 2019 318.49 239.22
Dec 2018 294.2 220.56
Nov 2018 331.22 249.1
Oct 2018 305.66 230.65
Sep 2018 311.69 234.79
Aug 2018 313.84 236.13
Jul 2018 296.19 222.73
Jun 2018 286.99 215.8
May 2018 281.96 211.68
Apr 2018 277.15 207.2
Mar 2018 251.88 187.57
Feb 2018 265.92 197.57
Jan 2018 279.67 206.85
Dec 2017 261.81 192.59
Nov 2017 270.81 199.33
Oct 2017 248.67 183.03
Sep 2017 231.53 170.52
Aug 2017 235.49 172.52
Jul 2017 227.77 166.37
Jun 2017 220.03 160.83
May 2017 207.22 151.33
Apr 2017 207.04 151.07
Mar 2017 194.75 141.68
Feb 2017 195.81 142.33
Jan 2017 192.53 139.51
Dec 2016 191.19 137.74
Nov 2016 189.2 136.26
Oct 2016 167.96 121.15
Sep 2016 166.59 120.01
Aug 2016 161.54 116.09
Jul 2016 170.18 122.2
Jun 2016 167.53 120.49
May 2016 158.4 113.55
Apr 2016 156.68 111.86
Mar 2016 154.1 109.5
Feb 2016 142.41 100.76
Jan 2016 137.81 97.42
Dec 2015 141.01 99.52
Nov 2015 134.06 94.94
Oct 2015 139.8 99.21
Sep 2015 137.63 97.72
Aug 2015 136.47 97.04
Jul 2015 142.99 101.83
Jun 2015 143.7 102.33
May 2015 141.49 100.4
Apr 2015 131.79 93.05
Mar 2015 140.23 98.8
Feb 2015 135.05 94.59
Jan 2015 126.83 88.45
Dec 2014 120.1 84.15
Nov 2014 116.08 81.8
Oct 2014 111.22 78.8
Sep 2014 100.71 71.53
Aug 2014 100.86 71.58
Jul 2014 94.15 66.94
Jun 2014 94.93 67.51
May 2014 92.21 65.46
Apr 2014 87.19 61.68
Mar 2014 95.58 67.4
Feb 2014 90.34 63.29
Jan 2014 84.82 59.2
Dec 2013 88.69 61.67
Nov 2013 87.38 60.77
Oct 2013 79.92 55.7
Sep 2013 83.63 58.43
Aug 2013 83.56 58.32
Jul 2013 84.96 59.22
Jun 2013 76.39 53.23
May 2013 72.61 50.47
Apr 2013 69.6 48.29
Mar 2013 66.37 46.1
Feb 2013 61.93 42.91
Jan 2013 64.5 44.32
Dec 2012 63.55 43.54
Nov 2012 63.3 43.49
Oct 2012 64.87 44.77
Sep 2012 64.16 44.3
Aug 2012 62.9 43.24
Jul 2012 59.51 40.69
Jun 2012 68.03 46.59
May 2012 64.53 44.25
Apr 2012 64.89 44.55
Mar 2012 68.32 46.76
Feb 2012 64.92 44.11
Jan 2012 60.58 40.97
Dec 2011 59.54 40.09
Nov 2011 56.96 38.45
Oct 2011 56 37.84
Sep 2011 53.71 36.36
Aug 2011 55.24 37.34
Jul 2011 57.85 39
Jun 2011 60.17 40.53
May 2011 56.86 38.34
Apr 2011 57.45 38.56
Mar 2011 53.09 35.4
Feb 2011 50.35 33.25
Jan 2011 48.78 32.06
Dec 2010 43.12 28.2
Nov 2010 43.54 28.43
Oct 2010 43 28.06
Sep 2010 41.93 27.33
Aug 2010 37.76 24.6
Jul 2010 36.3 23.62
Jun 2010 33.86 22.03
May 2010 34.48 22.45
Apr 2010 35.98 23.41
Mar 2010 38.82 25.21
Feb 2010 40.4 26.13
Jan 2010 39.38 25.46
Dec 2009 36.5 23.52
Nov 2009 34.27 22.12
Oct 2009 31.04 20.02
Sep 2009 29.98 19.32
Aug 2009 33.55 21.6
Jul 2009 33.69 21.65
Jun 2009 29.95 19.27
May 2009 32.16 20.52
Apr 2009 28.52 18.15
Mar 2009 25.44 16.15
Feb 2009 23.91 15.14
Jan 2009 34.64 21.83
Dec 2008 32.67 20.49
Nov 2008 25.54 16.19
Oct 2008 28.29 18.28
Sep 2008 29.96 19.56
Aug 2008 35.89 23.46
Jul 2008 32.96 21.63
Jun 2008 30.98 20.22
May 2008 40.77 26.36
Apr 2008 39.22 25.14
Mar 2008 41.55 26.47
Feb 2008 56.64 35.78
Jan 2008 62.14 39.14
Dec 2007 71.48 44.8
Nov 2007 67.51 42.34
Oct 2007 60.69 37.84
Sep 2007 59.93 37.28
Aug 2007 62.05 38.5
Jul 2007 59.98 37.28
Jun 2007 63.32 39.37
May 2007 67.95 42.16
Apr 2007 66.23 40.85
Mar 2007 66.54 40.78
Feb 2007 66.11 40.15
Jan 2007 66.57 40.21
Dec 2006 68.65 41.34
Nov 2006 62.8 37.76
Oct 2006 62.33 37.53
Sep 2006 62.52 37.85
Aug 2006 65.69 39.97
Jul 2006 60.6 36.8
Jun 2006 56.9 34.45
May 2006 55.97 33.82
Apr 2006 63.65 38.27
Mar 2006 72.09 42.98
Feb 2006 75.56 44.8
Jan 2006 77.26 45.72
Dec 2005 81.41 47.81
Nov 2005 78.11 46.06
Oct 2005 74.93 44.54
Sep 2005 72.89 43.24
Aug 2005 67.61 39.62
Jul 2005 69.01 40.24
Jun 2005 69.12 40.12
May 2005 64.43 37.38
Apr 2005 62.61 36.36
Mar 2005 63.61 36.69
Feb 2005 61.25 35.06
Jan 2005 60.08 34.19
Dec 2004 59.62 33.85
Nov 2004 55.9 31.86
Oct 2004 48.88 27.84
Sep 2004 50.04 28.36
Aug 2004 44.97 25.43
Jul 2004 42.8 24.19
Jun 2004 42.29 23.94
May 2004 44.47 25.09
Apr 2004 42.15 23.64
Mar 2004 44.32 24.78
Feb 2004 42.89 23.83
Jan 2004 42.35 23.4
Dec 2003 40.66 22.36
Nov 2003 37.63 20.72
Oct 2003 35.43 19.56
Sep 2003 35 19.34
Aug 2003 34.49 19
Jul 2003 36.49 20.02
Jun 2003 35.24 19.32
May 2003 33.67 18.44
Apr 2003 32.28 17.71
Mar 2003 32.05 17.62
Feb 2003 29.15 15.93
Jan 2003 31.15 16.89
Dec 2002 29.72 16.04
Nov 2002 28.93 15.65
Oct 2002 32.3 17.47
Sep 2002 31.03 16.76
Aug 2002 31.48 16.97
Jul 2002 31.34 16.84
Jun 2002 32.77 17.59
May 2002 32.52 17.45
Apr 2002 31.44 16.87
Mar 2002 27.52 14.68
Feb 2002 26.24 13.92
Jan 2002 27.02 14.28
Dec 2001 25.78 13.59
Nov 2001 25.92 13.72
Oct 2001 23.81 12.63
Sep 2001 24 12.77
Aug 2001 24.68 13.07
Jul 2001 24.45 12.95
Jun 2001 22.33 11.86
May 2001 20.83 11.04
Apr 2001 23.82 12.58
Mar 2001 21.65 11.38
Feb 2001 21.67 11.37
Jan 2001 20.72 10.83
Dec 2000 22.69 11.78
Nov 2000 21.67 11.26
Oct 2000 20.22 10.5
Sep 2000 18.29 9.48
Aug 2000 17.59 9.07
Jul 2000 15.23 7.85
Jun 2000 16 8.23
May 2000 13.98 7.16
Apr 2000 12.52 6.4
Mar 2000 11.2 5.72
Feb 2000 9.68 4.9
Jan 2000 10.09 5.08
Dec 1999 10.15 5.1
Nov 1999 9.92 4.98
Oct 1999 9.88 4.96
Sep 1999 9.32 4.67
Aug 1999 11.7 5.83
Jul 1999 11.76 5.85
Jun 1999 12.11 6.01
May 1999 11.28 5.59
Apr 1999 10.86 5.38
Mar 1999 10.25 5.05
Feb 1999 9.63 4.73
Jan 1999 8.75 4.29
Dec 1998 8.44 4.13
Nov 1998 8.84 4.33
Oct 1998 8.42 4.12
Sep 1998 6.87 3.36
Aug 1998 7.1 3.46
Jul 1998 11.12 5.42
Jun 1998 12.55 6.11
May 1998 12.63 6.14
Apr 1998 13.89 6.73
Mar 1998 12.83 6.21
Feb 1998 12.04 5.82
Jan 1998 10.18 4.91
Dec 1997 9.89 4.76
Nov 1997 10.35 4.99
Oct 1997 9.2 4.44
Sep 1997 9.96 4.79
Aug 1997 9.71 4.66
Jul 1997 11.4 5.46
Jun 1997 10.42 4.98
May 1997 11.33 5.41
Apr 1997 9.75 4.66
Mar 1997 9.55 4.56
Feb 1997 10.05 4.79
Jan 1997 9.83 4.67
Dec 1996 9.11 4.31
Nov 1996 8.73 4.13
Oct 1996 7.65 3.62
Sep 1996 8.47 3.99
Aug 1996 7.88 3.7
Jul 1996 6.9 3.23
Jun 1996 10.34 4.84
May 1996 11.25 5.25
Apr 1996 12.01 5.6
Mar 1996 12.68 5.89
Feb 1996 13.49 6.24
Jan 1996 13.04 6.01
Dec 1995 13.67 6.26
Nov 1995 13.14 6.02
Oct 1995 11.09 5.09
Sep 1995 10.24 4.68
Aug 1995 8.87 4.05
Jul 1995 9.47 4.31
Jun 1995 8.71 3.96
May 1995 7.85 3.57
Apr 1995 7.69 3.48
Mar 1995 9.91 4.48
Feb 1995 9.14 4.12
Jan 1995 10.36 4.64
Dec 1994 9.67 4.32
Nov 1994 10.21 4.56
Oct 1994 11.32 5.05
Sep 1994 11.38 5.08
Aug 1994 11.25 5
Jul 1994 9.84 4.36
Jun 1994 9.78 4.32
May 1994 10.47 4.61
Apr 1994 9.04 3.97
Mar 1994 9.32 4.09
Feb 1994 9.04 3.96
Jan 1994 9.38 4.09
Dec 1993 8.35 3.63
Nov 1993 7.97 3.47
Oct 1993 7.7 3.35
Sep 1993 7.59 3.29
Aug 1993 6.57 2.84
Jul 1993 7.01 3.02
Jun 1993 7.14 3.08
May 1993 6.65 2.86
Apr 1993 6.02 2.59
Mar 1993 5.75 2.47
Feb 1993 4.96 2.12
Jan 1993 7.26 3.09
Dec 1992 6.43 2.72
Nov 1992 6.16 2.61
Oct 1992 5.9 2.5
Sep 1992 5.71 2.41
Aug 1992 4.85 2.04
Jul 1992 5.25 2.2
Jun 1992 4.75 1.99
May 1992 5.1 2.12
Apr 1992 4.4 1.83
Mar 1992 4.56 1.9
Feb 1992 4.63 1.92
Jan 1992 4.84 1.99
Dec 1991 4.33 1.78
Nov 1991 3.5 1.44
Oct 1991 3.74 1.53
Sep 1991 3.16 1.29
Aug 1991 3.02 1.23
Jul 1991 2.96 1.2
Jun 1991 2.65 1.07
May 1991 2.9 1.17
Apr 1991 2.34 0.94
Mar 1991 2.33 0.94
Feb 1991 1.79 0.72
Jan 1991 1.64 0.66
Dec 1990 1.39 0.56
Nov 1990 1.21 0.48
Oct 1990 1.06 0.42
Sep 1990 0.97 0.39
Aug 1990 1.04 0.41
Jul 1990 1.17 0.45
Jun 1990 1.07 0.41
May 1990 0.94 0.36
Apr 1990 0.67 0.26
Mar 1990 0.61 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 May 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 24.22% 29.5%
Last 3 years -9.1% -6.11%
Last 5 years -4.18% 0.11%
Last 10 years 9.15% 12.85%
Last 20 years 10.05% 12.86%
Last 30 years 12.45% 15.34%

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
Jun 16, 2026
407.65
Highest
Nov 11, 2024
603.34
Highest, Inflation-Adjusted
Nov 11, 2024
640.88
Annualized return
Since Apr 8, 1985
21.23%
Annualized return, Inflation-Adjusted
Since Apr 8, 1985
17.91%

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Other Inflation-Adjusted Data