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Compare Stocks › BX vs UNH

Blackstone Inc. (BX) vs UnitedHealth Group Incorporated (UNH): Which Is the Better Buy in 2026?

As of 2026-06-19, BX is fairly valued at $124, with a DCF intrinsic value of $148 and a margin of safety of 16%. UNH is fairly valued at $401, with an intrinsic value of $376 and a margin of safety of -7%. Of the two, BX has the wider margin of safety.

BX
Blackstone Inc.
$123.79
VS
UNH
UnitedHealth Group Incorporated
$400.96

Rewards

BX
  • ★Gross margin of 100.0% indicates strong pricing power — typical of businesses with significant intellectual property or brand strength.
  • ★Return on equity has consistently exceeded 20% over 4 years, indicating efficient use of shareholder capital.
  • ★Trailing P/E of 31.7x is 33% below the historical average of 47.5x — potentially undervalued relative to its own history.
UNH
  • ★UnitedHealth Group Incorporated scores 73/100 on the Economic Moat Score (Wide Moat), with revenue predictability as the strongest competitive dimension.

Risks

BX
  • ⚠Despite buyback spending, shares outstanding increased in 3 out of 4 years — share issuance is offsetting repurchases.
  • ⚠PEG ratio of 2.15 indicates the stock is expensive relative to its expected growth — the market may be pricing in more growth than analysts project.
  • ⚠Free cash flow has declined at a 9.3% CAGR over the past 4 years — a concerning trend.
UNH
  • ⚠ROIC has declined by 6.9 percentage points over the past 4 years, which may signal competitive erosion.
  • ⚠Gross margin of 18.8% is low, suggesting a competitive or commodity-like market with limited pricing power.
  • ⚠Free cash flow has declined at a 11.8% CAGR over the past 4 years — a concerning trend.

Key Valuation Metrics

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BX
UNH
Valuation
N/A
Free Cash Flow
$17.69B
N/A
FCF Yield
4.86%
31.74
Trailing P/E
30.17
16.43
Forward P/E
19.18
Quality & Moat
11.74%
ROIC
15.60%
29.53%
ROE
12.18%
100.00%
Gross Margin
18.80%
2.15
PEG Ratio
1.41
Balance Sheet Safety
0.60
Net Debt / Equity
0.44
N/A
Interest Coverage
N/A
N/A
Net Debt / EBITDA
2.18
3.89%
Dividend Yield
2.21%
BX: 4Ties: 1UNH: 4
BXUNH

Historical Fundamentals

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BX

Price ÷ Earnings Per Share — how many years of current earnings you're paying for at today's price. Lower P/E may indicate undervaluation. The dashed forward point is the forward P/E — today's price ÷ analyst consensus EPS.

UNH

Price ÷ Earnings Per Share — how many years of current earnings you're paying for at today's price. Lower P/E may indicate undervaluation. The dashed forward point is the forward P/E — today's price ÷ analyst consensus EPS.

Price ÷ Earnings Per Share — how many years of current earnings you're paying for at today's price. Lower P/E may indicate undervaluation. The dashed forward point is the forward P/E — today's price ÷ analyst consensus EPS.

$1 Retained Earnings Test

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BX
N/A
Net losses over 3 years — test not applicable
Company had negative cumulative retained earnings
Σ Retained
$-7.52B
Δ Market Cap
+$65.62B
Buffett's "$1 Test": For every $1 of earnings retained, has management created at least $1 of market value?
> $1 created per $1 retained = Value Creator · < $1 created = Value Destroyer
UNH
$-7.37
created per $1 retained over 3 years
Market Cap Declined
Σ Retained
$26.63B
Δ Market Cap
$-196.16B
Buffett's "$1 Test": For every $1 of earnings retained, has management created at least $1 of market value?
> $1 created per $1 retained = Value Creator · < $1 created = Value Destroyer

Buffett's "$1 Test": For every $1 of earnings retained, has management created at least $1 of market value?
> $1 created per $1 retained = Value Creator · < $1 created = Value Destroyer

Discounted Cash Flow (DCF) Analysis

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BX
16.4% Margin of Safety
Price is 16.4% below estimated fair value
Current Price: $123.79
Fair Value: $148.10
Strongly undervalued
Undervalued
Fairly valued
Overvalued
Strongly overvalued
UNH
6.6% Overvalued
Price is 6.6% above estimated fair value
Current Price: $400.96
Fair Value: $376.14
Strongly undervalued
Undervalued
Fairly valued
Overvalued
Strongly overvalued

Reverse DCF — Market-Implied Growth

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BX

Requires positive FCF to compute implied growth rate.

UNH

What growth rate is the market pricing in at $401?

+14.1%
Market-Implied Owner Earnings Growth
Standard FCF implies +9.8%

The market implies +14.1% Owner Earnings growth, above historical trends.

Standard FCF implies a demanding +9.8%, reflecting heavy growth investment.

Economic Moat Score

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BX
63/100
Narrow Moat
70+ Wide · 40-69 Narrow · <40 None

Narrow moat with reinvestment efficiency as the key competitive advantage. Improving margin stability would strengthen the moat.

Composite score measuring competitive advantage durability across four dimensions: returns above cost of capital, pricing power stability, revenue predictability, and capital efficiency. Based on 4 years of fundamental data.
UNH
73/100
Wide Moat
70+ Wide · 40-69 Narrow · <40 None

Wide moat driven primarily by revenue predictability. Margin Stability is the area most vulnerable to competitive pressure.

Composite score measuring competitive advantage durability across four dimensions: returns above cost of capital, pricing power stability, revenue predictability, and capital efficiency. Based on 4 years of fundamental data.

Forensic Accounting

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BX
-2.52
Unlikely Manipulator
Above -1.78 = likely manipulator · -2.22 to -1.78 = grey zone

M-Score Trend

Beneish's 8-variable model estimates the probability of earnings manipulation. An M-Score above -1.78 signals elevated risk — companies in this range have historically been 3-5× more likely to be manipulating earnings. Scores between -2.22 and -1.78 fall in a grey zone warranting further investigation.
UNH
-2.45
Unlikely Manipulator
Above -1.78 = likely manipulator · -2.22 to -1.78 = grey zone

M-Score Trend

Beneish's 8-variable model estimates the probability of earnings manipulation. An M-Score above -1.78 signals elevated risk — companies in this range have historically been 3-5× more likely to be manipulating earnings. Scores between -2.22 and -1.78 fall in a grey zone warranting further investigation.

Beneish's 8-variable model estimates the probability of earnings manipulation. An M-Score above -1.78 signals elevated risk — companies in this range have historically been 3-5× more likely to be manipulating earnings. Scores between -2.22 and -1.78 fall in a grey zone warranting further investigation.

Ownership Breakdown

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BX
Insiders 1.1%Institutions 73.7%Retail & Other 25.2%
No. of Institutional Holders2,680
High insider ownership aligns management incentives with shareholders — a key signal in Buffett-style analysis. Institutional concentration can indicate smart-money conviction but also crowding risk.
UNH
Insiders 0.2%Institutions 85.9%Retail & Other 13.8%
No. of Institutional Holders4,020
High insider ownership aligns management incentives with shareholders — a key signal in Buffett-style analysis. Institutional concentration can indicate smart-money conviction but also crowding risk.

High insider ownership aligns management incentives with shareholders. Institutional concentration can indicate smart-money conviction but also crowding risk.

Insider Buying Activity

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BX
1
Buys (3M)
6
Buys (12M)
Total value (12M): $4.22M
PORAT RUTH M
Director
$53,974
@ $123.23 · 2026-05-11
PORAT RUTH M
Director
$68,553
@ $130.83 · 2026-02-17
PORAT RUTH M
Director
$58,835
@ $146.36 · 2025-11-10
BREYER JAMES W
Director
$2.00M
@ $143.86 · 2025-11-04
BREYER JAMES W
Director
$1.99M
@ $151.23 · 2025-10-29
PORAT RUTH M
Director
$46,699
@ $170.43 · 2025-08-11
PORAT RUTH M
Director
$40,342
@ $136.75 · 2025-05-05
PORAT RUTH M
Director
$61,926
@ $165.14 · 2025-02-18
PORAT RUTH M
Director
$36,799
@ $169.58 · 2024-11-04
PORAT RUTH M
Director
$34,868
@ $130.10 · 2024-08-05
Open market purchases · includes direct & indirect ownership · excludes option exercises
UNH
0
Buys (3M)
0
Buys (12M)
HEMSLEY STEPHEN J
Chief Executive Officer
$25.02M
@ $288.57 · 2025-05-16
REX JOHN F
President
$5.00M
@ $291.12 · 2025-05-16
GIL KRISTEN
Director
$1.00M
@ $271.17 · 2025-05-15
FLYNN TIMOTHY PATRICK
Director
$491,786
@ $320.80 · 2025-05-14
NOSEWORTHY JOHN H
Director
$93,647
@ $312.16 · 2025-05-14
FLYNN TIMOTHY PATRICK
Director
$511,575
@ $511.57 · 2025-01-17
Open market purchases · includes direct & indirect ownership · excludes option exercises

Open market purchases · includes direct & indirect ownership · excludes option exercises.

Insider Selling Activity

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BX
1
Sells (3M)
6
Sells (12M)
Total value (12M): $54.48M
SAWHNEY VIKRANT
Officer
$3.78M
@ $125.79 · 2026-05-01
BARATTA JOSEPH P
Director
$19.85M
@ $175.69 · 2025-09-25
FINLEY JOHN G
Officer
$3.69M
@ $171.46 · 2025-09-08
SAWHNEY VIKRANT
Officer
$8.83M
@ $173.64 · 2025-08-14
PAYNE DAVID
Officer
$1.60M
@ $169.97 · 2025-08-07
BARATTA JOSEPH P
Director
$16.74M
@ $167.36 · 2025-08-05
FINLEY JOHN G
Officer
$3.46M
@ $138.47 · 2025-05-08
FINLEY JOHN G
Officer
$7.43M
@ $175.94 · 2024-11-07
BARATTA JOSEPH P
Director
$17.56M
@ $150.81 · 2024-10-01
FINLEY JOHN G
Officer
$4.61M
@ $131.74 · 2024-08-07
PAYNE DAVID
Officer
$1.28M
@ $141.93 · 2024-07-31
BARATTA JOSEPH P
Director
$702,668
@ $140.90 · 2024-07-30
BARATTA JOSEPH P
Director
$14.32M
@ $123.00 · 2024-07-03
Direct ownership only · excludes indirect, option exercises, planned (10b5-1) sales & derivatives
UNH
1
Sells (3M)
1
Sells (12M)
Total value (12M): $284,000
CONWAY PATRICK HUGH M.D.
Officer
$284,000
@ $355.00 · 2026-04-23
CONWAY PATRICK HUGH M.D.
Chief Executive Officer
$179,645
@ $305.00 · 2025-06-10
Direct ownership only · excludes indirect, option exercises, planned (10b5-1) sales & derivatives

Direct ownership only · excludes indirect, option exercises, planned (10b5-1) sales & derivatives.

🎭 Mr. Market's Mood

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BX
FearGreed
😨Fear(40/100)

"Market is pessimistic — investigate whether fears are temporary or structural"

Composite sentiment score based on 6 market signals. Inspired by Buffett's "Mr. Market" allegory — fear = potential opportunity, greed = potential risk. Must be used alongside fundamental analysis, not in isolation.
UNH
FearGreed
😏Greed(68/100)

"Market is optimistic — be cautious and ensure you have a margin of safety"

Composite sentiment score based on 6 market signals. Inspired by Buffett's "Mr. Market" allegory — fear = potential opportunity, greed = potential risk. Must be used alongside fundamental analysis, not in isolation.

Composite sentiment score based on market signals. Inspired by Buffett’s "Mr. Market" allegory — fear = potential opportunity, greed = potential risk. Must be used alongside fundamental analysis, not in isolation.

⚖️ Buffett Signal

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BX
⚪Awaiting DCF Data

The Buffett Signal cross-references market sentiment with DCF valuation. Configure the DCF Analysis above to generate a signal.

DCF Margin of Safety: N/AMr. Market's Mood: Fear (40)
UNH
⚪Awaiting DCF Data

The Buffett Signal cross-references market sentiment with DCF valuation. Configure the DCF Analysis above to generate a signal.

DCF Margin of Safety: N/AMr. Market's Mood: Greed (68)
View BX Full AnalysisView UNH Full Analysis

Frequently Asked Questions: BX vs UNH

Is Blackstone Inc. or UnitedHealth Group Incorporated more undervalued in 2026?▼

Based on our discounted cash flow model, BX trades at a 16.4% margin of safety (intrinsic value $148 vs. price $124), compared to UNH's -6.6% margin of safety (intrinsic $376 vs. $401).

Which stock has a wider economic moat, Blackstone Inc. or UnitedHealth Group Incorporated?▼

UNH scores 73/100 (Wide moat), while BX scores 63/100 (Narrow moat). The moat score measures competitive advantage durability across ROIC consistency, margin stability, revenue predictability, and reinvestment efficiency.

Is UnitedHealth Group Incorporated in financial distress?▼

UNH's Altman Z-Score of 2.9 places it in the Grey zone, signaling elevated bankruptcy risk. BX scores 3.1 (Safe zone). The Altman Z-Score is a five-factor model that predicts insolvency within two years; scores below 1.81 indicate significant distress.

Which stock has higher return on invested capital, Blackstone Inc. or UnitedHealth Group Incorporated?▼

UNH earns 15.6% ROIC versus BX's 11.7%. A higher ROIC means the company generates more profit per dollar of capital employed, a hallmark of durable competitive advantage in Buffett-style analysis.

Which dividend is safer, Blackstone Inc.'s or UnitedHealth Group Incorporated's?▼

UNH's dividend earns a safety score of 84/100 (Very Safe), compared to BX's 21/100 (Unsafe). UNH has raised its dividend for 3 consecutive years.