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The Campbell's Company (CPB) vs UnitedHealth Group Incorporated (UNH): Which Is the Better Buy in 2026?

As of 2026-08-03, CPB is undervalued at $22, with a DCF intrinsic value of $2404498067 and a margin of safety of 100%. UNH is overvalued at $414, with an intrinsic value of $371 and a margin of safety of -12%. Of the two, CPB has the wider margin of safety.

CPB
The Campbell's Company
$21.98
VS
UNH
UnitedHealth Group Incorporated
$414.40

Rewards

CPB
  • ★The Campbell's Company scores 78/100 on the Economic Moat Score (Wide Moat), with revenue predictability as the strongest competitive dimension.
  • ★Trailing P/E of 10.8x is 41% below the historical average of 18.4x — potentially undervalued relative to its own history.
  • ★PEG ratio of 0.73 suggests the stock is undervalued relative to its growth rate — paying less than 1x for each unit of earnings growth.
UNH
  • ★UnitedHealth Group Incorporated scores 73/100 on the Economic Moat Score (Wide Moat), with revenue predictability as the strongest competitive dimension.

Risks

CPB
  • ⚠High leverage (1.72x net debt/equity) combined with thin interest coverage (-1.0x) poses financial risk.
  • ⚠Net debt/EBITDA of 4.1x indicates heavy leverage — it would take over 4 years of EBITDA to pay off net debt.
  • ⚠Altman Z-Score of 1.37 places the company in the distress zone — financial patterns resemble those of companies that experienced bankruptcy.
UNH
  • ⚠ROIC has declined by 6.9 percentage points over the past 4 years, which may signal competitive erosion.
  • ⚠Gross margin of 19.5% is low, suggesting a competitive or commodity-like market with limited pricing power.
  • ⚠FCF yield of 6.0% suggests reasonable valuation assuming continued moderate growth.

Key Valuation Metrics

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CPB
UNH
Valuation
$603.25M
Free Cash Flow
$22.76B
N/A
FCF Yield
6.05%
10.77
Trailing P/E
31.25
11.29
Forward P/E
18.47
Quality & Moat
9.04%
ROIC
14.15%
15.39%
ROE
14.15%
29.20%
Gross Margin
19.51%
0.73
PEG Ratio
1.28
Balance Sheet Safety
1.72
Net Debt / Equity
0.40
N/A
Interest Coverage
N/A
4.07
Net Debt / EBITDA
1.73
7.10%
Dividend Yield
2.24%
CPB: 6Ties: 1UNH: 4
CPBUNH

Historical Fundamentals

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CPB

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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CPB
$-0.00
created per $1 retained over 3 years
Market Cap Declined
Σ Retained
$676.0M
Δ Market Cap
$-28.88
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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CPB
100.0% Margin of Safety
Price is 100.0% below estimated fair value
Current Price: $21.98
Fair Value: $2404498066.62
Strongly undervalued
Undervalued
Fairly valued
Overvalued
Strongly overvalued
UNH
11.7% Overvalued
Price is 11.7% above estimated fair value
Current Price: $414.40
Fair Value: $370.88
Strongly undervalued
Undervalued
Fairly valued
Overvalued
Strongly overvalued

Reverse DCF — Market-Implied Growth

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CPB

What growth rate is the market pricing in at $22?

-0.1%
Market-Implied Owner Earnings Growth
Standard FCF implies +0.1%

The market implies -0.1% Owner Earnings growth, above historical trends.

Standard FCF implies a demanding +0.1%, reflecting heavy growth investment.

UNH

What growth rate is the market pricing in at $414?

+14.4%
Market-Implied Owner Earnings Growth
Standard FCF implies +6.6%

The market implies +14.4% Owner Earnings growth, above historical trends.

Standard FCF implies a demanding +6.6%, reflecting heavy growth investment.

Economic Moat Score

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CPB
78/100
Wide Moat
70+ Wide · 40-69 Narrow · <40 None

Wide moat driven primarily by revenue predictability. ROIC Consistency 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.
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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CPB
-2.70
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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CPB
Insiders 37.5%Institutions 64.5%
No. of Institutional Holders824
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 86.1%Retail & Other 13.6%
No. of Institutional Holders4,164
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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CPB
1
Buys (3M)
1
Buys (12M)
Total value (12M): $6,435
DORRANCE BENNETT JR.
Director
$6,435
@ $21.45 · 2026-06-09
Open market purchases · includes direct & indirect ownership · excludes option exercises
UNH
0
Buys (3M)
0
Buys (12M)
REX JOHN F
President
$5.00M
@ $291.12 · 2025-05-16
HEMSLEY STEPHEN J
Chief Executive Officer
$25.02M
@ $288.57 · 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
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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CPB
0
Sells (3M)
2
Sells (12M)
Total value (12M): $396,653
SANZIO ANTHONY
Officer
$71,578
@ $26.51 · 2026-01-09
BRAWLEY CHARLES A. III
General Counsel
$325,075
@ $28.15 · 2025-12-30
BRAWLEY CHARLES A. III
General Counsel
$100,000
@ $40.03 · 2025-03-31
SANZIO ANTHONY
Officer
$83,805
@ $41.90 · 2025-01-03
SANZIO ANTHONY
Officer
$187,528
@ $46.88 · 2024-10-03
POLOMSKI STANLEY
Officer
$649,690
@ $48.34 · 2024-10-01
Direct ownership only · excludes indirect, option exercises, planned (10b5-1) sales & derivatives
UNH
0
Sells (3M)
1
Sells (12M)
Total value (12M): $284,000
CONWAY PATRICK HUGH
Officer
$284,000
@ $355.00 · 2026-04-23
CONWAY PATRICK HUGH
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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CPB
FearGreed
😨Fear(29/100)

"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
😐Neutral(57/100)

"Market is pricing this stock without strong emotion in either direction"

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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CPB
⚪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 (29)
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: Neutral (57)
View CPB Full AnalysisView UNH Full Analysis

Frequently Asked Questions: CPB vs UNH

Is The Campbell's Company or UnitedHealth Group Incorporated more undervalued in 2026?▼

Based on our discounted cash flow model, CPB trades at a 100.0% margin of safety (intrinsic value $2404498067 vs. price $22), compared to UNH's -11.7% margin of safety (intrinsic $371 vs. $414).

Which stock has a wider economic moat, The Campbell's Company or UnitedHealth Group Incorporated?▼

CPB scores 78/100 (Wide moat), while UNH scores 73/100 (Wide moat). The moat score measures competitive advantage durability across ROIC consistency, margin stability, revenue predictability, and reinvestment efficiency.

Is The Campbell's Company in financial distress?▼

CPB's Altman Z-Score of 1.4 places it in the Distress zone, signaling elevated bankruptcy risk. UNH scores 2.9 (Grey 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, The Campbell's Company or UnitedHealth Group Incorporated?▼

UNH earns 14.1% ROIC versus CPB's 9.0%. 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, The Campbell's Company's or UnitedHealth Group Incorporated's?▼

UNH's dividend earns a safety score of 84/100 (Very Safe), compared to CPB's 43/100 (Borderline). UNH has raised its dividend for 3 consecutive years.

CPB vs UNH: Which Is the Better Buy in 2026? | SafetyMargin.io