20-quarter listed-company comparison

Healthcare Plans Stocks

Healthcare Plans: UnitedHealth Group Incorporated owns the largest revenue base; Clover Health Investments, Corp. has the fastest current growth.

01 · the industry itself · before any single company

How has Healthcare Plans moved against S&P 500?

The line below covers up to 5.2 years and opens on the 5Y view; the buttons cut it shorter. Over the most recent two of them this industry is 7% behind S&P 500. Earnings across its companies fell 17% on average over the last four reported quarters. It has been ahead of S&P 500 on a rolling three-month view for 15 weeks running.

LEADER · ahead 15w⚠Moving with the index6 of 11 companies ahead of S&P 500 by 5% or more over three months1 is 20% or more behind over a year while earnings grew 20% or more

RS ↑15w · 9/11 >200d (−2) · 6/11 lead (−3) · EPS 3/11↑

Healthcare Plans, equal-weighted, based at 200 S&P 500, same base, same start trailing 12-month earnings per share rising falling

Both lines start at 200 in the same week, so the distance between them is the whole story: the industry line is an equal-weighted index of its 11 companies. The bars underneath are trailing 12-month earnings per share, one bar per reported quarter, each member rebased to 100 at the start and the industry taking the median — so a price line pulling away from flat bars is a re-rating, not earnings. A bar turns red when that figure is lower than the quarter before. Rules are fixed and applied identically everywhere on this site: ahead by 5% or more over three months, or behind by 20% or more over a year while earnings grew 20% or more. Hover any point to read both values and the gap. This is a description of what the numbers did, not advice.

02 · sector relative strength, before individual stocks

Is Healthcare Plans outperforming S&P 500?

Healthcare Plans has outperformed S&P 500 by 32.3% over the last 52 weeks. Over 13 weeks the gap is a lead of 9.3%. 7 of 11 covered companies currently beat the S&P 500 on Mansfield relative strength, so leadership inside the sector is selective. Oscar Health, Inc. is the strongest against the sector itself at +29.2%.

+9.3%Sector vs S&P 500 · 13 weeks

+32.3%Sector vs S&P 500 · 52 weeks

7/11Stocks leading S&P 500

5/11Stocks leading sector

Sector metric: — as of latest available · unclassified · direction unavailable.

The central tension: the companies with the most scale are not necessarily the companies creating the most change.

Start with scale. Then earnings trajectory. Then business quality. Only after those three agree should price leadership carry much weight.

Bottom line

Healthcare Plans has outperformed S&P 500 by 32.3% over 52 weeks and 9.3% over 13 weeks. 7 of 11 covered companies beat the S&P 500 on Mansfield relative strength, while 5 of 11 beat the sector itself. UnitedHealth Group Incorporated leads with revenue of $450,129 million, based on 5 of 11 comparable companies through Jun 2026.

Companies

complete canonical membership

Combined market value

$759.5B

UnitedHealth Group Incorporated

Revenue growing

5/5

positive TTM year-on-year growth

Beating S&P 500

7/11

positive Mansfield relative strength

Comparing 5 of 11

03 · research priority, made explicit

4-Factor Sector Score

An additive sector-relative research score. The four displayed point contributions always equal the total: Growth & earnings (35), Capital efficiency (25), Valuation (20), and Relative strength (20). Missing or stale evidence is absorbed inside the affected factor, never applied as a hidden adjustment.

Growth & earnings · 35%Capital efficiency · 25%Valuation · 20%Relative strength · 20%

Progyny, Inc. has the strongest current balance of earnings trajectory, business quality, valuation and price confirmation, with 81.1% evidence confidence.

UnitedHealth Group Incorporated looks inexpensive relative to peers or its own history, but its earnings trajectory has not yet earned the valuation signal.

Humana Inc. has stronger price confirmation than earnings confirmation; that is a research prompt, not permission to chase.

How this score is built, and what the marks mean

Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led S&P 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step curve the sector itself is placed on — basing, turning, breaking out, leader, fading, asleep — read from how many weeks running it has led S&P 500 and whether that lead is widening or shrinking. It describes where the PRICE stands, not the earnings trajectory and not a recommendation, and it is left blank for a company whose weekly history is too short or too stale to read.

Company	Score	Price stage	Growth & earnings/35	Capital efficiency/25	Valuation/20	Relative strength/20
1Progyny, Inc.PGNY	70.9/100Favorable setup81% evidence	LEADER	24.9/35 Revenue 6.6% · PAT 28.9% · OPM change 3.3 pp 83% evidence	14.6/25 ROCE 7.4% · OPM 10.8% 76% evidence	15.5/20 P/E 22.1× · PEG 0.63 65% evidence	15.9/20 RS sector 6.6% · RS bench 21.3% · 1Y 37.8%12 of 12 weeks ahead 100% evidence
Exact sum: 24.9 + 14.6 + 15.5 + 15.9 = 70.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
2Oscar Health, Inc.OSCR	68.6/100Favorable setup71% evidence	LEADER	21.5/35 Revenue 32% · PAT -130.4% · OPM change 5.4 pp 83% evidence	18.3/25 ROCE 36.6% · OPM 15.2% 76% evidence	8.8/20 P/E 46.8× · PEG — 15% evidence	20.0/20 RS sector 29.2% · RS bench 44.7% · 1Y 96.5%12 of 12 weeks ahead 100% evidence
Exact sum: 21.5 + 18.3 + 8.8 + 20 = 68.6 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
3Clover Health Investments, Corp.CLOV	63.1/100Mixed-positive evidence61% evidence	LEADER	25.0/35 Revenue 48.9% · PAT — · OPM change 3.9 pp 62% evidence	9.7/25 ROCE 7.5% · OPM 3.6% 76% evidence	10.0/20 P/E — · PEG — 0% evidence	18.4/20 RS sector 16.3% · RS bench 30% · 1Y 95.9%12 of 12 weeks ahead 100% evidence
Exact sum: 25 + 9.7 + 10 + 18.4 = 63.1 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
4Centene CorporationCNC	53.9/100Thin evidence · provisional58% evidence	LEADER	19.2/35 Revenue — · PAT — · OPM change 0.4 pp 45% evidence	8.1/25 ROCE 2.6% · OPM 3.7% 76% evidence	11.2/20 P/E 13.4× · PEG — 15% evidence	15.4/20 RS sector 15.6% · RS bench 30.3% · 1Y 150.4%12 of 12 weeks ahead 100% evidence
Exact sum: 19.2 + 8.1 + 11.2 + 15.4 = 53.9 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
5Humana Inc.HUM	46.6/100Thin evidence · provisional58% evidence	LEADER	13.8/35 Revenue — · PAT — · OPM change -1.9 pp 45% evidence	7.5/25 ROCE 2.5% · OPM 4.4% 76% evidence	9.5/20 P/E 37.6× · PEG — 15% evidence	15.8/20 RS sector 7.1% · RS bench 20.6% · 1Y 35.8%12 of 12 weeks ahead 100% evidence
Exact sum: 13.8 + 7.5 + 9.5 + 15.8 = 46.6 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
6UnitedHealth Group IncorporatedUNH	46.3/100Mixed-negative evidence85% evidence	FADING	13.6/35 Revenue 6.5% · PAT -32.5% · OPM change 2.5 pp 95% evidence	10.9/25 ROCE 2.6% · OPM 7.1% 76% evidence	15.2/20 P/E 26.7× · PEG 0.73 65% evidence	6.6/20 RS sector -6.4% · RS bench 6.7% · 1Y 62.4%11 of 12 weeks ahead 100% evidence
Exact sum: 13.6 + 10.9 + 15.2 + 6.6 = 46.3 · Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity.
7CVS Health CorporationCVS	44.8/100Mixed-negative evidence71% evidence	LEADER	13.6/35 Revenue 7.6% · PAT -44.6% · OPM change 1.1 pp 83% evidence	11.4/25 ROCE 2.8% · OPM 4.7% 76% evidence	9.8/20 P/E 31.6× · PEG — 15% evidence	10.0/20 RS sector -1.1% · RS bench 12.9% · 1Y 59.3%11 of 12 weeks ahead 100% evidence
Exact sum: 13.6 + 11.4 + 9.8 + 10 = 44.8 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
8The Cigna GroupCI	39.4/100Thin evidence · provisional58% evidence	ASLEEP	16.2/35 Revenue — · PAT — · OPM change 0.4 pp 45% evidence	10.0/25 ROCE 2.7% · OPM 3.4% 76% evidence	11.5/20 P/E 11.4× · PEG — 15% evidence	1.7/20 RS sector -24.7% · RS bench -13% · 1Y -0.3%0 of 12 weeks ahead 100% evidence
Exact sum: 16.2 + 10 + 11.5 + 1.7 = 39.4 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
9Alignment Healthcare, Inc.ALHC	37.2/100Thin evidence · provisional58% evidence	ASLEEP	18.5/35 Revenue — · PAT — · OPM change 1.9 pp 45% evidence	10.2/25 ROCE 7.9% · OPM 1.3% 76% evidence	8.5/20 P/E 125.3× · PEG — 15% evidence	0.0/20 RS sector -43.3% · RS bench -34.6% · 1Y -6.8%3 of 12 weeks ahead 100% evidence
Exact sum: 18.5 + 10.2 + 8.5 + 0 = 37.2 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
10Elevance Health, Inc.ELV	35.8/100Thin evidence · provisional58% evidence	FADING	13.6/35 Revenue — · PAT — · OPM change -2.2 pp 45% evidence	8.7/25 ROCE 2.1% · OPM 4% 76% evidence	10.8/20 P/E 17.2× · PEG — 15% evidence	2.7/20 RS sector -14.5% · RS bench -2.1% · 1Y 28.6%10 of 12 weeks ahead 100% evidence
Exact sum: 13.6 + 8.7 + 10.8 + 2.7 = 35.8 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
11Molina Healthcare, Inc.MOH	34.1/100Thin evidence · provisional58% evidence	FADING	11.4/35 Revenue — · PAT — · OPM change -3.1 pp 45% evidence	5.8/25 ROCE 1.7% · OPM 0.8% 76% evidence	9.2/20 P/E 39.4× · PEG — 15% evidence	7.7/20 RS sector -13.3% · RS bench -1.2% · 1Y 22%9 of 12 weeks ahead 100% evidence
Exact sum: 11.4 + 5.8 + 9.2 + 7.7 = 34.1 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

Showing 10 of 11 companies

04 · what price has already done

Market action

Centene Corporation has the strongest one-year price move in Healthcare Plans at +150.4%. Oscar Health, Inc. leads on Mansfield relative strength against the S&P 500 at +44.7%. 7 of 11 covered companies are above zero on that measure. Every line covers 314 weekly closes through 2026-08-04.

Price and relative strength

Every company, the sector's own index and S&P 500 all start level on the left edge of the window, so only the distance between the lines counts — the highest line has risen the most since then, and the chart at the top of this page is drawn the same way. It opens on one year; the buttons beside it stretch that to three or five.

05 · compare level, then change

Revenue Scale & Growth Durability

UnitedHealth Group Incorporated has the highest Revenue among the 11 Healthcare Plans companies compared here, at $450,129 million. CVS Health Corporation is next at $407,905 million. Clover Health Investments, Corp. has the highest Revenue growth at 48.9%, so level and change sit with different companies. 5 of 11 companies report a comparable reading, the latest through Jun 2026.

What the numbers say: UnitedHealth Group Incorporated is the scale leader at $450,129 million, 10.4% ahead of CVS Health Corporation. Clover Health Investments, Corp.'s growth is 48.9% from a $2,212 million base, with 19 reported observations in the 20-quarter window. Treat the growth leader as an acceleration candidate, not as equally proven scale.

LeaderUnitedHealth Group Incorporated · $450,129 million

Gap10.4% versus #2 · CVS Health Corporation

Persistence8/8 recent comparable periods

Coverage5/11 companies · 210 observations

Investor read: UnitedHealth Group Incorporated is the scale benchmark; Clover Health Investments, Corp. is the acceleration watch. Promote the challenger only if growth persists and converts into margin and returns.

This conclusion weakens if: UnitedHealth Group Incorporated's growth falls below Clover Health Investments, Corp.'s for two consecutive comparable reports while operating margin also compresses.

Revenue is compared on a common reported-currency basis. Growth is year-on-year, so seasonality does not masquerade as progress.

Revenuelargest

1UnitedHealth Group Incorporated UNH$450.1B

2CVS Health Corporation CVS$407.9B

3Oscar Health, Inc. OSCR$13.3B

4Clover Health Investments, Corp. CLOV$2.2B

5Progyny, Inc. PGNY$1.3B

Revenue growthfastest growers

1Clover Health Investments, Corp. CLOV49%

2Oscar Health, Inc. OSCR32%

3CVS Health Corporation CVS7.6%

4Progyny, Inc. PGNY6.6%

5UnitedHealth Group Incorporated UNH6.5%

Revenue · company comparison

5/11 level · 5/11 change

On every company-comparison chart on this page: solid lines show level, dotted lines show change when “Both” is selected, and a missing report breaks the line rather than being invented.

All-company data · latest reported quarter

In every all-company table on this page, each figure is the company’s latest single reported quarter. The rankings above them use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

Company	Revenue	Revenue growth	Reported
UnitedHealth Group Incorporated UNH	$112.0B	0.4%	Jun 2026
CVS Health Corporation CVS	$100.4B	6.2%	Mar 2026
The Cigna Group CI	$68.5B	4.6%	Jun 2026
Centene Corporation CNC	$49.9B	7.1%	Jun 2026
Elevance Health, Inc. ELV	$49.5B	1.5%	Jun 2026
Humana Inc. HUM	$39.6B	23%	Jun 2026
Molina Healthcare, Inc. MOH	$10.8B	-3.2%	Jun 2026
Oscar Health, Inc. OSCR	$4.6B	53%	Mar 2026
Alignment Healthcare, Inc. ALHC	$1.2B	33%	Jun 2026
Clover Health Investments, Corp. CLOV	$749M	62%	Mar 2026
Progyny, Inc. PGNY	$329M	1.5%	Mar 2026

Full 20-quarter history · every available company

Revenue · reported quarter history

Alignment Healthcare, Inc. · ALHC

Sep 2021$293M

Dec 2021$298M

Mar 2022$346M

Jun 2022$366M

Sep 2022$360M

Dec 2022$362M

Mar 2023$439M

Jun 2023$462M

Sep 2023$457M

Dec 2023$465M

Mar 2024$629M

Jun 2024$681M

Sep 2024$692M

Dec 2024$701M

Mar 2025$927M

Jun 2025$1.0B

Sep 2025$994M

Dec 2025$1.0B

Mar 2026$1.2B

Jun 2026—

Centene Corporation · CNC

Sep 2021$32.4B

Dec 2021$32.6B

Mar 2022$37.2B

Jun 2022$35.9B

Sep 2022$35.9B

Dec 2022$35.6B

Mar 2023$38.9B

Jun 2023$37.6B

Sep 2023$38.0B

Dec 2023$39.5B

Mar 2024$40.4B

Jun 2024$39.8B

Sep 2024$42.0B

Dec 2024$40.8B

Mar 2025$46.6B

Jun 2025$48.7B

Sep 2025$49.7B

Dec 2025$49.7B

Mar 2026$49.9B

Jun 2026—

Clover Health Investments, Corp. · CLOV

Sep 2021$427M

Dec 2021$432M

Mar 2022$874M

Jun 2022$847M

Sep 2022$857M

Dec 2022$276M

Mar 2023$322M

Jun 2023$320M

Sep 2023$306M

Dec 2023$312M

Mar 2024$347M

Jun 2024$356M

Sep 2024$331M

Dec 2024$337M

Mar 2025$462M

Jun 2025$478M

Sep 2025$497M

Dec 2025$488M

Mar 2026$749M

Jun 2026—

CVS Health Corporation · CVS

Sep 2021$73.8B

Dec 2021$76.6B

Mar 2022$76.8B

Jun 2022$80.6B

Sep 2022$81.2B

Dec 2022$83.8B

Mar 2023$85.3B

Jun 2023$88.9B

Sep 2023$89.8B

Dec 2023$93.8B

Mar 2024$88.4B

Jun 2024$91.2B

Sep 2024$95.4B

Dec 2024$97.7B

Mar 2025$94.6B

Jun 2025$98.9B

Sep 2025$102.9B

Dec 2025$105.7B

Mar 2026$100.4B

Jun 2026—

Elevance Health, Inc. · ELV

Sep 2021$35.5B

Dec 2021$36.0B

Mar 2022$37.9B

Jun 2022$38.5B

Sep 2022$39.6B

Dec 2022$39.7B

Mar 2023$41.9B

Jun 2023$43.4B

Sep 2023$42.5B

Dec 2023$42.5B

Mar 2024$42.3B

Jun 2024$43.2B

Sep 2024$44.7B

Dec 2024$45.0B

Mar 2025$48.8B

Jun 2025$49.4B

Sep 2025$50.1B

Dec 2025$49.3B

Mar 2026$49.5B

Jun 2026—

Humana Inc. · HUM

Sep 2021$20.7B

Dec 2021$21.1B

Mar 2022$24.0B

Jun 2022$23.7B

Sep 2022$22.8B

Dec 2022$22.4B

Mar 2023$26.7B

Jun 2023$26.7B

Sep 2023$26.4B

Dec 2023$26.5B

Mar 2024$29.6B

Jun 2024$29.5B

Sep 2024$29.4B

Dec 2024$29.2B

Mar 2025$32.1B

Jun 2025$32.4B

Sep 2025$32.6B

Dec 2025$32.5B

Mar 2026$39.6B

Jun 2026—

Molina Healthcare, Inc. · MOH

Sep 2021$7.0B

Dec 2021$7.4B

Mar 2022$7.8B

Jun 2022$8.1B

Sep 2022$7.9B

Dec 2022$8.2B

Mar 2023$8.1B

Jun 2023$8.3B

Sep 2023$8.5B

Dec 2023$9.0B

Mar 2024$9.9B

Jun 2024$9.9B

Sep 2024$10.3B

Dec 2024$10.5B

Mar 2025$11.1B

Jun 2025$11.4B

Sep 2025$11.5B

Dec 2025$11.4B

Mar 2026$10.8B

Jun 2026—

Oscar Health, Inc. · OSCR

Sep 2021$444M

Dec 2021$496M

Mar 2022$973M

Jun 2022$1.0B

Sep 2022$978M

Dec 2022$995M

Mar 2023$1.5B

Jun 2023$1.5B

Sep 2023$1.4B

Dec 2023$1.4B

Mar 2024$2.1B

Jun 2024$2.2B

Sep 2024$2.4B

Dec 2024$2.4B

Mar 2025$3.0B

Jun 2025$2.9B

Sep 2025$3.0B

Dec 2025$2.8B

Mar 2026$4.6B

Jun 2026—

Progyny, Inc. · PGNY

Sep 2021$122M

Dec 2021$128M

Mar 2022$172M

Jun 2022$195M

Sep 2022$205M

Dec 2022$214M

Mar 2023$258M

Jun 2023$279M

Sep 2023$281M

Dec 2023$270M

Mar 2024$278M

Jun 2024$304M

Sep 2024$287M

Dec 2024$298M

Mar 2025$324M

Jun 2025$333M

Sep 2025$313M

Dec 2025$318M

Mar 2026$329M

Jun 2026—

The Cigna Group · CI

Sep 2021$44.3B

Dec 2021$45.7B

Mar 2022$44.0B

Jun 2022$45.5B

Sep 2022$45.3B

Dec 2022$45.8B

Mar 2023$46.5B

Jun 2023$48.6B

Sep 2023$49.0B

Dec 2023$51.1B

Mar 2024$57.3B

Jun 2024$60.5B

Sep 2024$63.7B

Dec 2024$65.6B

Mar 2025$65.5B

Jun 2025$67.2B

Sep 2025$69.7B

Dec 2025$72.5B

Mar 2026$68.5B

Jun 2026—

UnitedHealth Group Incorporated · UNH

Sep 2021$72.3B

Dec 2021$73.7B

Mar 2022$80.1B

Jun 2022$80.3B

Sep 2022$80.9B

Dec 2022$82.8B

Mar 2023$91.9B

Jun 2023$92.9B

Sep 2023$92.4B

Dec 2023$94.4B

Mar 2024$99.8B

Jun 2024$98.9B

Sep 2024$100.8B

Dec 2024$100.8B

Mar 2025$109.6B

Jun 2025$111.6B

Sep 2025$113.2B

Dec 2025$113.2B

Mar 2026$111.7B

Jun 2026$112.0B

Revenue growth · reported quarter history

Alignment Healthcare, Inc. · ALHC

Sep 2021—

Dec 2021—

Mar 2022—

Jun 202218%

Sep 202223%

Dec 202221%

Mar 202327%

Jun 202326%

Sep 202327%

Dec 202328%

Mar 202443%

Jun 202447%

Sep 202451%

Dec 202451%

Mar 202547%

Jun 202549%

Sep 202544%

Dec 202545%

Mar 202633%

Jun 2026—

Centene Corporation · CNC

Sep 2021—

Dec 2021—

Mar 2022—

Jun 202216%

Sep 202211%

Dec 20229.2%

Mar 20234.6%

Jun 20234.7%

Sep 20236.1%

Dec 202311%

Mar 20243.9%

Jun 20245.9%

Sep 202410%

Dec 20243.4%

Mar 202515%

Jun 202522%

Sep 202518%

Dec 202522%

Mar 20267.1%

Jun 2026—

Clover Health Investments, Corp. · CLOV

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022106%

Sep 2022101%

Dec 2022-36%

Mar 2023-63%

Jun 2023-62%

Sep 2023-64%

Dec 202313%

Mar 20247.8%

Jun 202411%

Sep 20248.2%

Dec 20248.0%

Mar 202533%

Jun 202534%

Sep 202550%

Dec 202545%

Mar 202662%

Jun 2026—

CVS Health Corporation · CVS

Sep 2021—

Dec 2021—

Mar 2022—

Jun 202211%

Sep 202210.0%

Dec 20229.5%

Mar 202311%

Jun 202310%

Sep 202311%

Dec 202312%

Mar 20243.7%

Jun 20242.6%

Sep 20246.3%

Dec 20244.2%

Mar 20257.0%

Jun 20258.4%

Sep 20257.8%

Dec 20258.2%

Mar 20266.2%

Jun 2026—

Elevance Health, Inc. · ELV

Sep 2021—

Dec 2021—

Mar 2022—

Jun 202216%

Sep 202211%

Dec 202210%

Mar 202311%

Jun 202313%

Sep 20237.2%

Dec 20237.0%

Mar 20240.9%

Jun 2024-0.4%

Sep 20245.3%

Dec 20246.0%

Mar 202515%

Jun 202514%

Sep 202512%

Dec 20259.6%

Mar 20261.5%

Jun 2026—

Humana Inc. · HUM

Sep 2021—

Dec 2021—

Mar 2022—

Jun 202215%

Sep 202210%

Dec 20226.6%

Mar 202312%

Jun 202313%

Sep 202316%

Dec 202318%

Mar 202411%

Jun 202410%

Sep 202411%

Dec 202410%

Mar 20258.5%

Jun 20259.6%

Sep 202511%

Dec 202511%

Mar 202623%

Jun 2026—

Molina Healthcare, Inc. · MOH

Sep 2021—

Dec 2021—

Mar 2022—

Jun 202218%

Sep 202213%

Dec 202211%

Mar 20234.9%

Jun 20233.4%

Sep 20237.8%

Dec 202310%

Mar 202422%

Jun 202419%

Sep 202421%

Dec 202416%

Mar 202512%

Jun 202516%

Sep 202511%

Dec 20258.3%

Mar 2026-3.2%

Jun 2026—

Oscar Health, Inc. · OSCR

Sep 2021—

Dec 2021—

Mar 2022—

Jun 202292%

Sep 2022120%

Dec 2022101%

Mar 202351%

Jun 202350%

Sep 202347%

Dec 202344%

Mar 202446%

Jun 202446%

Sep 202468%

Dec 202467%

Mar 202542%

Jun 202529%

Sep 202523%

Dec 202517%

Mar 202653%

Jun 2026—

Progyny, Inc. · PGNY

Sep 2021—

Dec 2021—

Mar 2022—

Jun 202251%

Sep 202268%

Dec 202267%

Mar 202350%

Jun 202343%

Sep 202337%

Dec 202326%

Mar 20247.8%

Jun 20249.0%

Sep 20242.1%

Dec 202410%

Mar 202517%

Jun 20259.5%

Sep 20259.1%

Dec 20256.7%

Mar 20261.5%

Jun 2026—

The Cigna Group · CI

Sep 2021—

Dec 2021—

Mar 2022—

Jun 20225.4%

Sep 20222.2%

Dec 20220.2%

Mar 20235.7%

Jun 20236.8%

Sep 20238.3%

Dec 202312%

Mar 202423%

Jun 202425%

Sep 202430%

Dec 202428%

Mar 202514%

Jun 202511%

Sep 20259.5%

Dec 202510%

Mar 20264.6%

Jun 2026—

UnitedHealth Group Incorporated · UNH

Sep 2021—

Dec 2021—

Mar 2022—

Jun 202213%

Sep 202212%

Dec 202212%

Mar 202315%

Jun 202316%

Sep 202314%

Dec 202314%

Mar 20248.6%

Jun 20246.4%

Sep 20249.2%

Dec 20246.8%

Mar 20259.8%

Jun 202513%

Sep 202512%

Dec 202512%

Mar 20262.0%

Jun 20260.4%

06 · compare level, then change

Operating Economics & Margin Trend

Oscar Health, Inc. has the highest OPM among the 11 Healthcare Plans companies compared here, at 15.2%. Progyny, Inc. is next at 10.8%. The same company also holds the highest Margin change, at +5.4 percentage points. 11 of 11 companies report a comparable reading, the latest through Mar 2026. Its OPM series carries 19 reported observations across the 20-quarter window.

What the numbers say: Oscar Health, Inc. leads both opm at 15.2% and margin change at +5.4 percentage points.

LeaderOscar Health, Inc. · 15.2%

Gap40.7% versus #2 · Progyny, Inc.

Persistence5/8 recent comparable periods

Coverage11/11 companies · 210 observations

Investor read: Oscar Health, Inc. sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current margin change signal.

Operating margin compares operating profit with revenue. Improvement is measured in percentage points, not percentage growth.

OPMhighest

1Oscar Health, Inc. OSCR15%

2Progyny, Inc. PGNY11%

3UnitedHealth Group Incorporated UNH7.1%

4CVS Health Corporation CVS4.7%

5Humana Inc. HUM4.4%

Margin changefastest expanders

1Oscar Health, Inc. OSCR+5.4 pp

2Clover Health Investments, Corp. CLOV+3.9 pp

3Progyny, Inc. PGNY+3.3 pp

4UnitedHealth Group Incorporated UNH+2.5 pp

5Alignment Healthcare, Inc. ALHC+1.9 pp

Operating margin · company comparison

11/11 level · 11/11 change

All-company data · latest reported quarter

Company	OPM	Margin change	Reported
Oscar Health, Inc. OSCR	15%	+5.4 pp	Mar 2026
Progyny, Inc. PGNY	11%	+3.3 pp	Mar 2026
UnitedHealth Group Incorporated UNH	7.1%	+2.5 pp	Jun 2026
CVS Health Corporation CVS	4.7%	+1.1 pp	Mar 2026
Humana Inc. HUM	4.4%	−1.9 pp	Jun 2026
Elevance Health, Inc. ELV	4.0%	−2.2 pp	Jun 2026
Centene Corporation CNC	3.7%	+0.4 pp	Jun 2026
Clover Health Investments, Corp. CLOV	3.6%	+3.9 pp	Mar 2026
The Cigna Group CI	3.4%	+0.4 pp	Jun 2026
Alignment Healthcare, Inc. ALHC	1.3%	+1.9 pp	Jun 2026
Molina Healthcare, Inc. MOH	0.8%	−3.1 pp	Jun 2026

Full 20-quarter history · every available company

OPM · reported quarter history

Alignment Healthcare, Inc. · ALHC

Sep 2021-14%

Dec 2021-15%

Mar 2022-11%

Jun 2022-1.8%

Sep 2022-9.3%

Dec 2022-14%

Mar 2023-7.4%

Jun 2023-5.1%

Sep 2023-6.5%

Dec 2023-9.0%

Mar 2024-6.5%

Jun 2024-2.7%

Sep 2024-2.8%

Dec 2024-3.2%

Mar 2025-0.6%

Jun 20252.2%

Sep 20250.8%

Dec 2025-1.0%

Mar 20261.3%

Jun 2026—

Centene Corporation · CNC

Sep 20211.7%

Dec 20211.9%

Mar 20223.4%

Jun 2022-0.4%

Sep 20221.3%

Dec 2022-0.8%

Mar 20233.1%

Jun 20233.1%

Sep 20231.9%

Dec 2023-0.5%

Mar 20242.7%

Jun 20243.1%

Sep 20241.6%

Dec 20240.4%

Mar 20253.3%

Jun 2025-0.9%

Sep 2025-14%

Dec 2025-3.5%

Mar 20263.7%

Jun 2026—

Clover Health Investments, Corp. · CLOV

Sep 2021-35%

Dec 2021-43%

Mar 2022-10%

Jun 2022-12%

Sep 2022-8.6%

Dec 2022-263%

Mar 2023-25%

Jun 2023-9.0%

Sep 2023-11%

Dec 2023-20%

Mar 2024-6.5%

Jun 20242.0%

Sep 2024-2.7%

Dec 2024-6.4%

Mar 2025-0.3%

Jun 2025-2.2%

Sep 2025-4.9%

Dec 2025-10%

Mar 20263.6%

Jun 2026—

CVS Health Corporation · CVS

Sep 20214.1%

Dec 20213.1%

Mar 20224.6%

Jun 20225.8%

Sep 2022-4.8%

Dec 20224.4%

Mar 20234.0%

Jun 20233.6%

Sep 20234.1%

Dec 20233.6%

Mar 20242.6%

Jun 20243.3%

Sep 20240.9%

Dec 20242.4%

Mar 20253.6%

Jun 20252.4%

Sep 2025-3.1%

Dec 20252.0%

Mar 20264.7%

Jun 2026—

Elevance Health, Inc. · ELV

Sep 20215.4%

Dec 202115%

Mar 20226.1%

Jun 20225.7%

Sep 20225.1%

Dec 20222.6%

Mar 20236.2%

Jun 20235.5%

Sep 20233.6%

Dec 20232.5%

Mar 20246.9%

Jun 20246.0%

Sep 20242.9%

Dec 20241.1%

Mar 20256.2%

Jun 20254.6%

Sep 20252.3%

Dec 20250.3%

Mar 20264.0%

Jun 2026—

Humana Inc. · HUM

Sep 20213.0%

Dec 20210.3%

Mar 20225.4%

Jun 20225.1%

Sep 20225.1%

Dec 20220.6%

Mar 20236.4%

Jun 20235.4%

Sep 20234.6%

Dec 2023-1.3%

Mar 20244.2%

Jun 20243.9%

Sep 20242.5%

Dec 2024-1.9%

Mar 20256.3%

Jun 20253.4%

Sep 20251.2%

Dec 2025-2.5%

Mar 20264.4%

Jun 2026—

Molina Healthcare, Inc. · MOH

Sep 20213.1%

Dec 20212.6%

Mar 20224.8%

Jun 20224.5%

Sep 20224.2%

Dec 20221.3%

Mar 20235.6%

Jun 20235.3%

Sep 20234.2%

Dec 20233.5%

Mar 20244.3%

Jun 20244.4%

Sep 20244.5%

Dec 20243.6%

Mar 20253.9%

Jun 20253.3%

Sep 20251.2%

Dec 2025-1.4%

Mar 20260.8%

Jun 2026—

Oscar Health, Inc. · OSCR

Sep 2021-48%

Dec 2021-40%

Mar 2022-7.0%

Jun 2022-11%

Sep 2022-20%

Dec 2022-22%

Mar 2023-1.7%

Jun 2023-0.4%

Sep 2023-4.0%

Dec 2023-10%

Mar 20248.7%

Jun 20243.1%

Sep 2024-2.0%

Dec 2024-6.2%

Mar 20259.8%

Jun 2025-8.0%

Sep 2025-4.3%

Dec 2025-12%

Mar 202615%

Jun 2026—

Progyny, Inc. · PGNY

Sep 20217.4%

Dec 2021-0.1%

Mar 20220.0%

Jun 20224.5%

Sep 20225.5%

Dec 20221.5%

Mar 20235.8%

Jun 20235.4%

Sep 20236.5%

Dec 20235.1%

Mar 20246.7%

Jun 20246.8%

Sep 20244.3%

Dec 20245.3%

Mar 20257.5%

Jun 20257.3%

Sep 20256.9%

Dec 20254.8%

Mar 202611%

Jun 2026—

The Cigna Group · CI

Sep 20215.2%

Dec 20213.4%

Mar 20225.0%

Jun 20225.2%

Sep 20224.7%

Dec 20223.8%

Mar 20234.3%

Jun 20234.6%

Sep 20234.6%

Dec 20234.0%

Mar 20243.9%

Jun 20244.0%

Sep 20244.0%

Dec 20243.3%

Mar 20253.0%

Jun 20253.4%

Sep 20253.7%

Dec 20253.2%

Mar 20263.4%

Jun 2026—

UnitedHealth Group Incorporated · UNH

Sep 20217.9%

Dec 20217.5%

Mar 20228.7%

Jun 20228.9%

Sep 20229.2%

Dec 20228.3%

Mar 20238.8%

Jun 20238.7%

Sep 20239.2%

Dec 20238.1%

Mar 20247.9%

Jun 20248.0%

Sep 20248.6%

Dec 20247.7%

Mar 20258.3%

Jun 20254.6%

Sep 20253.8%

Dec 20250.3%

Mar 20268.0%

Jun 20267.1%

Margin change · reported quarter history

Alignment Healthcare, Inc. · ALHC

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022+11.3 pp

Sep 2022+4.8 pp

Dec 2022+0.2 pp

Mar 2023+3.2 pp

Jun 2023−3.3 pp

Sep 2023+2.8 pp

Dec 2023+5.4 pp

Mar 2024+0.9 pp

Jun 2024+2.4 pp

Sep 2024+3.7 pp

Dec 2024+5.8 pp

Mar 2025+5.9 pp

Jun 2025+4.9 pp

Sep 2025+3.6 pp

Dec 2025+2.2 pp

Mar 2026+1.9 pp

Jun 2026—

Centene Corporation · CNC

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022+0.9 pp

Sep 2022−0.4 pp

Dec 2022−2.7 pp

Mar 2023−0.3 pp

Jun 2023+3.5 pp

Sep 2023+0.6 pp

Dec 2023+0.3 pp

Mar 2024−0.4 pp

Jun 20240.0 pp

Sep 2024−0.3 pp

Dec 2024+0.9 pp

Mar 2025+0.6 pp

Jun 2025−4.0 pp

Sep 2025−15.6 pp

Dec 2025−3.9 pp

Mar 2026+0.4 pp

Jun 2026—

Clover Health Investments, Corp. · CLOV

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022+32.0 pp

Sep 2022+26.3 pp

Dec 2022−219.5 pp

Mar 2023−14.8 pp

Jun 2023+3.1 pp

Sep 2023−2.4 pp

Dec 2023+242.5 pp

Mar 2024+18.3 pp

Jun 2024+11.0 pp

Sep 2024+8.3 pp

Dec 2024+13.8 pp

Mar 2025+6.2 pp

Jun 2025−4.2 pp

Sep 2025−2.2 pp

Dec 2025−3.7 pp

Mar 2026+3.9 pp

Jun 2026—

CVS Health Corporation · CVS

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022−0.2 pp

Sep 2022−8.9 pp

Dec 2022+1.3 pp

Mar 2023−0.6 pp

Jun 2023−2.2 pp

Sep 2023+8.9 pp

Dec 2023−0.8 pp

Mar 2024−1.4 pp

Jun 2024−0.3 pp

Sep 2024−3.2 pp

Dec 2024−1.2 pp

Mar 2025+1.0 pp

Jun 2025−0.9 pp

Sep 2025−4.0 pp

Dec 2025−0.4 pp

Mar 2026+1.1 pp

Jun 2026—

Elevance Health, Inc. · ELV

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022−0.3 pp

Sep 2022−0.3 pp

Dec 2022−12.3 pp

Mar 2023+0.1 pp

Jun 2023−0.2 pp

Sep 2023−1.5 pp

Dec 2023−0.1 pp

Mar 2024+0.7 pp

Jun 2024+0.5 pp

Sep 2024−0.7 pp

Dec 2024−1.4 pp

Mar 2025−0.7 pp

Jun 2025−1.4 pp

Sep 2025−0.6 pp

Dec 2025−0.8 pp

Mar 2026−2.2 pp

Jun 2026—

Humana Inc. · HUM

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022−0.9 pp

Sep 2022+2.1 pp

Dec 2022+0.3 pp

Mar 2023+1.0 pp

Jun 2023+0.3 pp

Sep 2023−0.5 pp

Dec 2023−1.9 pp

Mar 2024−2.2 pp

Jun 2024−1.5 pp

Sep 2024−2.1 pp

Dec 2024−0.6 pp

Mar 2025+2.1 pp

Jun 2025−0.5 pp

Sep 2025−1.3 pp

Dec 2025−0.6 pp

Mar 2026−1.9 pp

Jun 2026—

Molina Healthcare, Inc. · MOH

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022+0.5 pp

Sep 2022+1.1 pp

Dec 2022−1.3 pp

Mar 2023+0.8 pp

Jun 2023+0.8 pp

Sep 20230.0 pp

Dec 2023+2.2 pp

Mar 2024−1.3 pp

Jun 2024−0.9 pp

Sep 2024+0.3 pp

Dec 2024+0.1 pp

Mar 2025−0.4 pp

Jun 2025−1.1 pp

Sep 2025−3.3 pp

Dec 2025−5.0 pp

Mar 2026−3.1 pp

Jun 2026—

Oscar Health, Inc. · OSCR

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022+3.2 pp

Sep 2022+28.0 pp

Dec 2022+17.2 pp

Mar 2023+5.3 pp

Jun 2023+10.1 pp

Sep 2023+15.7 pp

Dec 2023+12.2 pp

Mar 2024+10.4 pp

Jun 2024+3.5 pp

Sep 2024+2.0 pp

Dec 2024+4.0 pp

Mar 2025+1.1 pp

Jun 2025−11.1 pp

Sep 2025−2.3 pp

Dec 2025−5.7 pp

Mar 2026+5.4 pp

Jun 2026—

Progyny, Inc. · PGNY

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022−4.6 pp

Sep 2022−1.9 pp

Dec 2022+1.6 pp

Mar 2023+5.8 pp

Jun 2023+0.9 pp

Sep 2023+1.0 pp

Dec 2023+3.6 pp

Mar 2024+0.9 pp

Jun 2024+1.4 pp

Sep 2024−2.2 pp

Dec 2024+0.2 pp

Mar 2025+0.8 pp

Jun 2025+0.5 pp

Sep 2025+2.6 pp

Dec 2025−0.5 pp

Mar 2026+3.3 pp

Jun 2026—

The Cigna Group · CI

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022+0.2 pp

Sep 2022−0.5 pp

Dec 2022+0.4 pp

Mar 2023−0.7 pp

Jun 2023−0.6 pp

Sep 2023−0.1 pp

Dec 2023+0.2 pp

Mar 2024−0.4 pp

Jun 2024−0.6 pp

Sep 2024−0.6 pp

Dec 2024−0.7 pp

Mar 2025−0.9 pp

Jun 2025−0.6 pp

Sep 2025−0.3 pp

Dec 2025−0.1 pp

Mar 2026+0.4 pp

Jun 2026—

UnitedHealth Group Incorporated · UNH

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022+0.5 pp

Sep 2022+1.3 pp

Dec 2022+0.8 pp

Mar 2023+0.1 pp

Jun 2023−0.2 pp

Sep 20230.0 pp

Dec 2023−0.2 pp

Mar 2024−0.9 pp

Jun 2024−0.7 pp

Sep 2024−0.6 pp

Dec 2024−0.4 pp

Mar 2025+0.4 pp

Jun 2025−3.4 pp

Sep 2025−4.8 pp

Dec 2025−7.4 pp

Mar 2026−0.3 pp

Jun 2026+2.5 pp

07 · compare level, then change

Profit Scale & Acceleration

UnitedHealth Group Incorporated has the highest Net profit among the 11 Healthcare Plans companies compared here, at $14,912 million. CVS Health Corporation is next at $2,903 million. Progyny, Inc. has the highest Profit growth at 28.9%, so level and change sit with different companies. 5 of 11 companies report a comparable reading, the latest through Jun 2026.

What the numbers say: UnitedHealth Group Incorporated leads with $14,912 million of TTM profit, 413.7% above CVS Health Corporation. Progyny, Inc. shows 28.9% growth from a $67 million profit base. Compare the size of the base and persistence before ranking acceleration above profit scale.

LeaderUnitedHealth Group Incorporated · $14,912 million

Gap413.7% versus #2 · CVS Health Corporation

Persistence4/8 recent comparable periods

Coverage5/11 companies · 210 observations

Investor read: UnitedHealth Group Incorporated sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current profit growth signal.

Net profit is the residual after operating costs, interest and tax. Growth off a loss or near-zero base is excluded from the fastest-grower rank.

Net profitlargest

1UnitedHealth Group Incorporated UNH$14.9B

2CVS Health Corporation CVS$2.9B

3Progyny, Inc. PGNY$67M

4Oscar Health, Inc. OSCR$-38M

5Clover Health Investments, Corp. CLOV$-57M

Profit growthfastest growers

1Progyny, Inc. PGNY29%

2UnitedHealth Group Incorporated UNH-33%

3CVS Health Corporation CVS-45%

4Oscar Health, Inc. OSCR-130%

Net profit · company comparison

5/11 level · 4/11 change

All-company data · latest reported quarter

Company	Net profit	Profit growth	Reported
UnitedHealth Group Incorporated UNH	$5.7B	59%	Jun 2026
CVS Health Corporation CVS	$3.0B	66%	Mar 2026
The Cigna Group CI	$1.9B	32%	Jun 2026
Elevance Health, Inc. ELV	$1.8B	-19%	Jun 2026
Centene Corporation CNC	$1.5B	17%	Jun 2026
Humana Inc. HUM	$1.2B	-4.7%	Jun 2026
Oscar Health, Inc. OSCR	$679M	146%	Mar 2026
Clover Health Investments, Corp. CLOV	$27M	-257%	Mar 2026
Progyny, Inc. PGNY	$24M	60%	Mar 2026
Molina Healthcare, Inc. MOH	$14M	-95%	Jun 2026
Alignment Healthcare, Inc. ALHC	$11M	—	Jun 2026

Full 20-quarter history · every available company

Net profit · reported quarter history

Alignment Healthcare, Inc. · ALHC

Sep 2021$-46M

Dec 2021$-48M

Mar 2022$-41M

Jun 2022$-12M

Sep 2022$-40M

Dec 2022$-57M

Mar 2023$-37M

Jun 2023$-28M

Sep 2023$-35M

Dec 2023$-47M

Mar 2024$-47M

Jun 2024$-24M

Sep 2024$-26M

Dec 2024$-31M

Mar 2025$-9M

Jun 2025$16M

Sep 2025$4M

Dec 2025$-11M

Mar 2026$11M

Jun 2026—

Centene Corporation · CNC

Sep 2021$581M

Dec 2021$593M

Mar 2022$852M

Jun 2022$-171M

Sep 2022$740M

Dec 2022$-219M

Mar 2023$1.1B

Jun 2023$1.1B

Sep 2023$475M

Dec 2023$39M

Mar 2024$1.2B

Jun 2024$1.1B

Sep 2024$710M

Dec 2024$280M

Mar 2025$1.3B

Jun 2025$-259M

Sep 2025$-6.6B

Dec 2025$-1.1B

Mar 2026$1.5B

Jun 2026—

Clover Health Investments, Corp. · CLOV

Sep 2021$-265M

Dec 2021$-187M

Mar 2022$-75M

Jun 2022$-104M

Sep 2022$-75M

Dec 2022$-727M

Mar 2023$-80M

Jun 2023$-29M

Sep 2023$-34M

Dec 2023$-68M

Mar 2024$-23M

Jun 2024$7M

Sep 2024$-9M

Dec 2024$-21M

Mar 2025$-1M

Jun 2025$-11M

Sep 2025$-24M

Dec 2025$-49M

Mar 2026$27M

Jun 2026—

CVS Health Corporation · CVS

Sep 2021$1.6B

Dec 2021$1.4B

Mar 2022$2.4B

Jun 2022$3.0B

Sep 2022$-3.4B

Dec 2022$2.3B

Mar 2023$2.1B

Jun 2023$1.9B

Sep 2023$2.3B

Dec 2023$2.0B

Mar 2024$1.1B

Jun 2024$1.8B

Sep 2024$71M

Dec 2024$1.6B

Mar 2025$1.8B

Jun 2025$1.0B

Sep 2025$-4.0B

Dec 2025$2.9B

Mar 2026$3.0B

Jun 2026—

Elevance Health, Inc. · ELV

Sep 2021$1.5B

Dec 2021$1.2B

Mar 2022$1.8B

Jun 2022$1.6B

Sep 2022$1.6B

Dec 2022$877M

Mar 2023$2.0B

Jun 2023$1.9B

Sep 2023$1.3B

Dec 2023$831M

Mar 2024$2.2B

Jun 2024$2.3B

Sep 2024$1.0B

Dec 2024$413M

Mar 2025$2.2B

Jun 2025$1.7B

Sep 2025$1.2B

Dec 2025$546M

Mar 2026$1.8B

Jun 2026—

Humana Inc. · HUM

Sep 2021$1.5B

Dec 2021$-13M

Mar 2022$930M

Jun 2022$697M

Sep 2022$1.2B

Dec 2022$-18M

Mar 2023$1.2B

Jun 2023$956M

Sep 2023$830M

Dec 2023$-540M

Mar 2024$739M

Jun 2024$678M

Sep 2024$480M

Dec 2024$-683M

Mar 2025$1.2B

Jun 2025$543M

Sep 2025$194M

Dec 2025$-776M

Mar 2026$1.2B

Jun 2026—

Molina Healthcare, Inc. · MOH

Sep 2021$143M

Dec 2021$103M

Mar 2022$258M

Jun 2022$248M

Sep 2022$230M

Dec 2022$56M

Mar 2023$321M

Jun 2023$309M

Sep 2023$245M

Dec 2023$216M

Mar 2024$301M

Jun 2024$301M

Sep 2024$326M

Dec 2024$251M

Mar 2025$298M

Jun 2025$255M

Sep 2025$79M

Dec 2025$-160M

Mar 2026$14M

Jun 2026—

Oscar Health, Inc. · OSCR

Sep 2021$-211M

Dec 2021$-198M

Mar 2022$-77M

Jun 2022$-112M

Sep 2022$-194M

Dec 2022$-227M

Mar 2023$-40M

Jun 2023$-15M

Sep 2023$-66M

Dec 2023$-150M

Mar 2024$177M

Jun 2024$56M

Sep 2024$-54M

Dec 2024$-153M

Mar 2025$276M

Jun 2025$-228M

Sep 2025$-137M

Dec 2025$-352M

Mar 2026$679M

Jun 2026—

Progyny, Inc. · PGNY

Sep 2021$17M

Dec 2021$15M

Mar 2022$5M

Jun 2022$9M

Sep 2022$13M

Dec 2022$3M

Mar 2023$18M

Jun 2023$15M

Sep 2023$16M

Dec 2023$13M

Mar 2024$17M

Jun 2024$16M

Sep 2024$10M

Dec 2024$11M

Mar 2025$15M

Jun 2025$17M

Sep 2025$14M

Dec 2025$12M

Mar 2026$24M

Jun 2026—

The Cigna Group · CI

Sep 2021$1.6B

Dec 2021$1.1B

Mar 2022$1.2B

Jun 2022$1.6B

Sep 2022$2.8B

Dec 2022$1.2B

Mar 2023$1.3B

Jun 2023$1.5B

Sep 2023$1.4B

Dec 2023$1.1B

Mar 2024$-212M

Jun 2024$1.6B

Sep 2024$825M

Dec 2024$1.5B

Mar 2025$1.4B

Jun 2025$1.6B

Sep 2025$2.0B

Dec 2025$1.3B

Mar 2026$1.9B

Jun 2026—

UnitedHealth Group Incorporated · UNH

Sep 2021$4.2B

Dec 2021$4.2B

Mar 2022$5.1B

Jun 2022$5.2B

Sep 2022$5.4B

Dec 2022$4.9B

Mar 2023$5.8B

Jun 2023$5.7B

Sep 2023$6.0B

Dec 2023$5.7B

Mar 2024$-1.2B

Jun 2024$4.4B

Sep 2024$6.3B

Dec 2024$5.8B

Mar 2025$6.5B

Jun 2025$3.6B

Sep 2025$2.5B

Dec 2025$218M

Mar 2026$6.5B

Jun 2026$5.7B

Profit growth · reported quarter history

Centene Corporation · CNC

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 202227%

Dec 2022-137%

Mar 202333%

Jun 2023—

Sep 2023-36%

Dec 2023—

Mar 20242.5%

Jun 20248.6%

Sep 202449%

Dec 2024618%

Mar 202513%

Jun 2025-123%

Sep 2025-1,034%

Dec 2025-493%

Mar 202617%

Jun 2026—

Clover Health Investments, Corp. · CLOV

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025-257%

Sep 2025—

Dec 2025—

Mar 2026—

Jun 2026—

CVS Health Corporation · CVS

Sep 2021—

Dec 2021—

Mar 2022—

Jun 20228.9%

Sep 2022-314%

Dec 202268%

Mar 2023-9.0%

Jun 2023-37%

Sep 2023—

Dec 2023-12%

Mar 2024-48%

Jun 2024-7.6%

Sep 2024-97%

Dec 2024-21%

Mar 202559%

Jun 2025-43%

Sep 2025-5,720%

Dec 202580%

Mar 202666%

Jun 2026—

Elevance Health, Inc. · ELV

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022-9.3%

Sep 20226.4%

Dec 2022-26%

Mar 202313%

Jun 202314%

Sep 2023-19%

Dec 2023-5.3%

Mar 202412%

Jun 202424%

Sep 2024-22%

Dec 2024-50%

Mar 2025-2.9%

Jun 2025-24%

Sep 202518%

Dec 202532%

Mar 2026-19%

Jun 2026—

Humana Inc. · HUM

Sep 2021—

Dec 2021—

Mar 2022—

Jun 202219%

Sep 2022-22%

Dec 2022—

Mar 202333%

Jun 202337%

Sep 2023-30%

Dec 2023—

Mar 2024-40%

Jun 2024-29%

Sep 2024-42%

Dec 2024—

Mar 202568%

Jun 2025-20%

Sep 2025-60%

Dec 2025—

Mar 2026-4.7%

Jun 2026—

Molina Healthcare, Inc. · MOH

Sep 2021—

Dec 2021—

Mar 2022—

Jun 202234%

Sep 202261%

Dec 2022-46%

Mar 202324%

Jun 202325%

Sep 20236.5%

Dec 2023286%

Mar 2024-6.2%

Jun 2024-2.6%

Sep 202433%

Dec 202416%

Mar 2025-1.0%

Jun 2025-15%

Sep 2025-76%

Dec 2025-164%

Mar 2026-95%

Jun 2026—

Oscar Health, Inc. · OSCR

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 202556%

Jun 2025-507%

Sep 2025—

Dec 2025—

Mar 2026146%

Jun 2026—

Progyny, Inc. · PGNY

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022-53%

Sep 2022-24%

Dec 2022-80%

Mar 2023260%

Jun 202367%

Sep 202323%

Dec 2023333%

Mar 2024-5.6%

Jun 20246.7%

Sep 2024-38%

Dec 2024-15%

Mar 2025-12%

Jun 20256.3%

Sep 202540%

Dec 20259.1%

Mar 202660%

Jun 2026—

The Cigna Group · CI

Sep 2021—

Dec 2021—

Mar 2022—

Jun 20226.4%

Sep 202270%

Dec 20227.4%

Mar 20237.8%

Jun 2023-3.8%

Sep 2023-48%

Dec 2023-9.4%

Mar 2024-116%

Jun 20247.9%

Sep 2024-43%

Dec 202439%

Mar 2025—

Jun 20250.2%

Sep 2025139%

Dec 2025-17%

Mar 202632%

Jun 2026—

UnitedHealth Group Incorporated · UNH

Sep 2021—

Dec 2021—

Mar 2022—

Jun 202219%

Sep 202228%

Dec 202217%

Mar 202312%

Jun 20238.8%

Sep 202312%

Dec 202316%

Mar 2024-121%

Jun 2024-22%

Sep 20243.6%

Dec 20241.9%

Mar 2025—

Jun 2025-19%

Sep 2025-59%

Dec 2025-96%

Mar 20260.1%

Jun 202659%

08 · compare level, then change

Return On Capital Employed

Oscar Health, Inc. has the highest ROCE among the 11 Healthcare Plans companies compared here, at 36.6%. Alignment Healthcare, Inc. is next at 7.9%. The same company also holds the highest ROCE change, at +17.4 percentage points. 11 of 11 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: Oscar Health, Inc. leads ROCE at 36.6%, 28.7 percentage points above Alignment Healthcare, Inc.. Oscar Health, Inc. has the strongest latest improvement at +17.4 percentage points. Read the leader beside the density of its reported history: a sparse high return is a candidate; a repeated high return is evidence of durability.

LeaderOscar Health, Inc. · 36.6%

Gap363.3% versus #2 · Alignment Healthcare, Inc.

Persistence5/8 recent comparable periods

Coverage11/11 companies · 216 observations

Investor read: Oscar Health, Inc. sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current roce change signal.

ROCE asks how much operating return the business earns on the capital employed. Direction matters, but a single exceptional year should not be mistaken for durability.

ROCEhighest

1Oscar Health, Inc. OSCR37%

2Alignment Healthcare, Inc. ALHC7.9%

3Clover Health Investments, Corp. CLOV7.5%

4Progyny, Inc. PGNY7.4%

5CVS Health Corporation CVS2.8%

ROCE changefastest improvers

1Oscar Health, Inc. OSCR+17.4 pp

2Clover Health Investments, Corp. CLOV+7.9 pp

3Centene Corporation CNC+3.5 pp

4Progyny, Inc. PGNY+2.9 pp

5Alignment Healthcare, Inc. ALHC+2.3 pp

Return on capital · company comparison

11/11 level · 11/11 change

All-company data · latest reported quarter

Company	ROCE	ROCE change	Reported
Oscar Health, Inc. OSCR	37%	+17.4 pp	Mar 2026
Alignment Healthcare, Inc. ALHC	7.9%	+2.3 pp	Jun 2026
Clover Health Investments, Corp. CLOV	7.5%	+7.9 pp	Mar 2026
Progyny, Inc. PGNY	7.4%	+2.9 pp	Mar 2026
CVS Health Corporation CVS	2.8%	+0.8 pp	Mar 2026
The Cigna Group CI	2.7%	+0.3 pp	Jun 2026
UnitedHealth Group Incorporated UNH	2.6%	+0.9 pp	Jun 2026
Centene Corporation CNC	2.6%	+3.5 pp	Jun 2026
Humana Inc. HUM	2.5%	+0.3 pp	Jun 2026
Elevance Health, Inc. ELV	2.1%	−1.0 pp	Jun 2026
Molina Healthcare, Inc. MOH	1.7%	−3.1 pp	Jun 2026

Full 20-quarter history · every available company

ROCE · reported quarter history

Alignment Healthcare, Inc. · ALHC

Sep 2021-12%

Dec 2021-13%

Mar 2022-7.6%

Jun 2022-1.4%

Sep 2022-7.3%

Dec 2022-12%

Mar 2023-7.7%

Jun 2023-5.7%

Sep 2023-7.5%

Dec 2023-11%

Mar 2024-12%

Jun 2024-5.1%

Sep 2024-5.6%

Dec 2024-5.9%

Mar 2025-1.5%

Jun 20255.6%

Sep 20251.9%

Dec 2025-2.2%

Mar 20263.2%

Jun 20267.9%

Centene Corporation · CNC

Sep 20211.1%

Dec 20211.2%

Mar 20222.5%

Jun 2022-0.3%

Sep 20220.9%

Dec 2022-0.6%

Mar 20232.4%

Jun 20232.3%

Sep 20231.5%

Dec 2023-0.4%

Mar 20242.2%

Jun 20242.4%

Sep 20241.4%

Dec 20240.4%

Mar 20253.1%

Jun 2025-0.9%

Sep 2025-16%

Dec 2025-4.0%

Mar 20264.1%

Jun 20262.6%

Clover Health Investments, Corp. · CLOV

Sep 2021-19%

Dec 2021-55%

Mar 2022-14%

Jun 2022-14%

Sep 2022-13%

Dec 2022-152%

Mar 2023-18%

Jun 2023-7.1%

Sep 2023-8.7%

Dec 2023-18%

Mar 2024-6.9%

Jun 20242.1%

Sep 2024-2.5%

Dec 2024-6.3%

Mar 2025-0.4%

Jun 2025-2.9%

Sep 2025-6.6%

Dec 2025-14%

Mar 20267.5%

Jun 2026—

CVS Health Corporation · CVS

Sep 20211.8%

Dec 20211.4%

Mar 20222.1%

Jun 20222.8%

Sep 2022-2.4%

Dec 20222.3%

Mar 20232.1%

Jun 20231.9%

Sep 20232.2%

Dec 20232.0%

Mar 20241.4%

Jun 20241.8%

Sep 20240.5%

Dec 20241.4%

Mar 20252.0%

Jun 20251.4%

Sep 2025-1.9%

Dec 20251.3%

Mar 20262.8%

Jun 2026—

Elevance Health, Inc. · ELV

Sep 20213.2%

Dec 20218.9%

Mar 20223.8%

Jun 20223.5%

Sep 20223.3%

Dec 20221.6%

Mar 20234.1%

Jun 20233.7%

Sep 20232.4%

Dec 20231.6%

Mar 20244.3%

Jun 20243.8%

Sep 20241.8%

Dec 20240.7%

Mar 20254.2%

Jun 20253.1%

Sep 20251.4%

Dec 20250.2%

Mar 20262.5%

Jun 20262.1%

Humana Inc. · HUM

Sep 20211.5%

Dec 20210.2%

Mar 20223.1%

Jun 20222.9%

Sep 20222.4%

Dec 20220.3%

Mar 20233.4%

Jun 20232.8%

Sep 20232.3%

Dec 2023-0.8%

Mar 20242.4%

Jun 20242.1%

Sep 20241.4%

Dec 2024-1.2%

Mar 20254.0%

Jun 20252.2%

Sep 20250.8%

Dec 2025-1.7%

Mar 20263.3%

Jun 20262.5%

Molina Healthcare, Inc. · MOH

Sep 20214.8%

Dec 20213.9%

Mar 20227.5%

Jun 20227.1%

Sep 20226.4%

Dec 20222.0%

Mar 20238.2%

Jun 20237.7%

Sep 20236.0%

Dec 20235.2%

Mar 20246.7%

Jun 20246.4%

Sep 20246.8%

Dec 20245.3%

Mar 20255.7%

Jun 20254.8%

Sep 20251.8%

Dec 2025-2.0%

Mar 20261.0%

Jun 20261.7%

Oscar Health, Inc. · OSCR

Sep 2021-20%

Dec 2021-19%

Mar 2022-3.9%

Jun 2022-6.3%

Sep 2022-13%

Dec 2022-16%

Mar 2023-1.7%

Jun 2023-0.4%

Sep 2023-4.2%

Dec 2023-12%

Mar 202414%

Jun 20244.8%

Sep 2024-3.4%

Dec 2024-12%

Mar 202519%

Jun 2025-15%

Sep 2025-7.8%

Dec 2025-24%

Mar 202637%

Jun 2026—

Progyny, Inc. · PGNY

Sep 20215.0%

Dec 2021-0.1%

Mar 20220.0%

Jun 20223.3%

Sep 20223.8%

Dec 20221.0%

Mar 20234.1%

Jun 20233.8%

Sep 20234.1%

Dec 20232.9%

Mar 20243.6%

Jun 20244.3%

Sep 20242.5%

Dec 20243.1%

Mar 20254.5%

Jun 20254.8%

Sep 20254.2%

Dec 20253.1%

Mar 20267.4%

Jun 2026—

The Cigna Group · CI

Sep 20212.0%

Dec 20211.3%

Mar 20221.9%

Jun 20222.1%

Sep 20221.9%

Dec 20221.6%

Mar 20231.9%

Jun 20232.1%

Sep 20232.2%

Dec 20232.0%

Mar 20242.2%

Jun 20242.4%

Sep 20242.5%

Dec 20242.2%

Mar 20252.0%

Jun 20252.4%

Sep 20252.6%

Dec 20252.4%

Mar 20262.4%

Jun 20262.7%

UnitedHealth Group Incorporated · UNH

Sep 20212.8%

Dec 20212.7%

Mar 20223.3%

Jun 20223.2%

Sep 20223.3%

Dec 20223.0%

Mar 20233.2%

Jun 20233.2%

Sep 20233.2%

Dec 20233.0%

Mar 20242.8%

Jun 20242.8%

Sep 20243.0%

Dec 20242.7%

Mar 20253.1%

Jun 20251.7%

Sep 20251.4%

Dec 20250.1%

Mar 20262.9%

Jun 20262.6%

ROCE change · reported quarter history

Alignment Healthcare, Inc. · ALHC

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022+5.1 pp

Dec 2022+1.4 pp

Mar 2023−0.1 pp

Jun 2023−4.3 pp

Sep 2023−0.2 pp

Dec 2023+0.6 pp

Mar 2024−4.2 pp

Jun 2024+0.6 pp

Sep 2024+1.9 pp

Dec 2024+5.5 pp

Mar 2025+10.4 pp

Jun 2025+10.7 pp

Sep 2025+7.5 pp

Dec 2025+3.7 pp

Mar 2026+4.7 pp

Jun 2026+2.3 pp

Centene Corporation · CNC

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022−0.2 pp

Dec 2022−1.8 pp

Mar 2023−0.1 pp

Jun 2023+2.6 pp

Sep 2023+0.6 pp

Dec 2023+0.2 pp

Mar 2024−0.2 pp

Jun 2024+0.1 pp

Sep 2024−0.1 pp

Dec 2024+0.8 pp

Mar 2025+0.9 pp

Jun 2025−3.3 pp

Sep 2025−16.9 pp

Dec 2025−4.4 pp

Mar 2026+1.0 pp

Jun 2026+3.5 pp

Clover Health Investments, Corp. · CLOV

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022+6.4 pp

Dec 2022−97.1 pp

Mar 2023−4.0 pp

Jun 2023+6.7 pp

Sep 2023+4.2 pp

Dec 2023+133.5 pp

Mar 2024+11.4 pp

Jun 2024+9.2 pp

Sep 2024+6.2 pp

Dec 2024+12.1 pp

Mar 2025+6.5 pp

Jun 2025−5.0 pp

Sep 2025−4.1 pp

Dec 2025−7.8 pp

Mar 2026+7.9 pp

Jun 2026—

CVS Health Corporation · CVS

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022−4.2 pp

Dec 2022+0.9 pp

Mar 20230.0 pp

Jun 2023−0.9 pp

Sep 2023+4.6 pp

Dec 2023−0.3 pp

Mar 2024−0.7 pp

Jun 2024−0.1 pp

Sep 2024−1.7 pp

Dec 2024−0.6 pp

Mar 2025+0.6 pp

Jun 2025−0.4 pp

Sep 2025−2.4 pp

Dec 2025−0.1 pp

Mar 2026+0.8 pp

Jun 2026—

Elevance Health, Inc. · ELV

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022+0.1 pp

Dec 2022−7.3 pp

Mar 2023+0.3 pp

Jun 2023+0.2 pp

Sep 2023−0.9 pp

Dec 20230.0 pp

Mar 2024+0.2 pp

Jun 2024+0.1 pp

Sep 2024−0.6 pp

Dec 2024−0.9 pp

Mar 2025−0.1 pp

Jun 2025−0.7 pp

Sep 2025−0.4 pp

Dec 2025−0.5 pp

Mar 2026−1.7 pp

Jun 2026−1.0 pp

Humana Inc. · HUM

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022+0.9 pp

Dec 2022+0.1 pp

Mar 2023+0.3 pp

Jun 2023−0.1 pp

Sep 2023−0.1 pp

Dec 2023−1.1 pp

Mar 2024−1.0 pp

Jun 2024−0.7 pp

Sep 2024−0.9 pp

Dec 2024−0.4 pp

Mar 2025+1.6 pp

Jun 2025+0.1 pp

Sep 2025−0.6 pp

Dec 2025−0.5 pp

Mar 2026−0.7 pp

Jun 2026+0.3 pp

Molina Healthcare, Inc. · MOH

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022+1.6 pp

Dec 2022−1.9 pp

Mar 2023+0.7 pp

Jun 2023+0.6 pp

Sep 2023−0.4 pp

Dec 2023+3.2 pp

Mar 2024−1.5 pp

Jun 2024−1.3 pp

Sep 2024+0.8 pp

Dec 2024+0.1 pp

Mar 2025−1.0 pp

Jun 2025−1.6 pp

Sep 2025−5.0 pp

Dec 2025−7.3 pp

Mar 2026−4.7 pp

Jun 2026−3.1 pp

Oscar Health, Inc. · OSCR

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022+6.8 pp

Dec 2022+2.6 pp

Mar 2023+2.2 pp

Jun 2023+5.9 pp

Sep 2023+8.6 pp

Dec 2023+4.4 pp

Mar 2024+15.4 pp

Jun 2024+5.2 pp

Sep 2024+0.8 pp

Dec 2024+0.3 pp

Mar 2025+5.5 pp

Jun 2025−20.0 pp

Sep 2025−4.4 pp

Dec 2025−11.9 pp

Mar 2026+17.4 pp

Jun 2026—

Progyny, Inc. · PGNY

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022−1.2 pp

Dec 2022+1.1 pp

Mar 2023+4.1 pp

Jun 2023+0.5 pp

Sep 2023+0.3 pp

Dec 2023+1.9 pp

Mar 2024−0.5 pp

Jun 2024+0.5 pp

Sep 2024−1.6 pp

Dec 2024+0.2 pp

Mar 2025+0.9 pp

Jun 2025+0.5 pp

Sep 2025+1.7 pp

Dec 20250.0 pp

Mar 2026+2.9 pp

Jun 2026—

The Cigna Group · CI

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022−0.1 pp

Dec 2022+0.3 pp

Mar 20230.0 pp

Jun 20230.0 pp

Sep 2023+0.3 pp

Dec 2023+0.4 pp

Mar 2024+0.3 pp

Jun 2024+0.3 pp

Sep 2024+0.3 pp

Dec 2024+0.2 pp

Mar 2025−0.2 pp

Jun 20250.0 pp

Sep 2025+0.1 pp

Dec 2025+0.2 pp

Mar 2026+0.4 pp

Jun 2026+0.3 pp

UnitedHealth Group Incorporated · UNH

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022+0.5 pp

Dec 2022+0.3 pp

Mar 2023−0.1 pp

Jun 20230.0 pp

Sep 2023−0.1 pp

Dec 20230.0 pp

Mar 2024−0.4 pp

Jun 2024−0.4 pp

Sep 2024−0.2 pp

Dec 2024−0.3 pp

Mar 2025+0.3 pp

Jun 2025−1.1 pp

Sep 2025−1.6 pp

Dec 2025−2.6 pp

Mar 2026−0.2 pp

Jun 2026+0.9 pp

09 · compare level, then change

Valuation Against Growth & Quality

Progyny, Inc. has the lowest PEG among the 11 Healthcare Plans companies compared here, at 0.63×. UnitedHealth Group Incorporated is next at 0.73×. The Cigna Group has the lowest P/E at 11.4×, so level and change sit with different companies. 2 of 11 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: Progyny, Inc. has the lowest comparable PEG at 0.63×, 13.7% below UnitedHealth Group Incorporated. Only 2 of 11 companies have earnings and growth steady enough for the ratio to mean anything, so no broad “cheapest stock” conclusion is defensible unless the current multiple, own-history position and growth durability agree.

LeaderProgyny, Inc. · 0.63×

Gap13.7% versus #2 · UnitedHealth Group Incorporated

Persistence0/8 recent comparable periods

Coverage2/11 companies · 41 observations

Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.

This conclusion weakens if: The next two comparable reports reverse the current p/e signal.

PEG is shown only when earnings are positive and three-year EPS growth is between 5% and 60%. It is recomputed consistently as the trailing P/E divided by that growth rate — reported earnings, never an expected-earnings multiple. On Indian companies it is shown only where the two data feeds agreed. Where any of that fails the ratio is left out rather than printed: a P/E divided by a loss, or by growth measured off a tiny base, is a number that looks precise and means nothing.

PEGlowest PEG

1Progyny, Inc. PGNY0.6

2UnitedHealth Group Incorporated UNH0.7

P/Elowest P/E

1The Cigna Group CI11.4

2Centene Corporation CNC13.4

3Elevance Health, Inc. ELV17.2

4Progyny, Inc. PGNY22.1

5UnitedHealth Group Incorporated UNH26.7

Valuation · company comparison

2/11 level · 10/11 change

All-company data · latest reported quarter

Company	PEG	P/E	Reported
Humana Inc. HUM	2.2	37.6	Jun 2026
Elevance Health, Inc. ELV	2.1	17.2	Jun 2026
Molina Healthcare, Inc. MOH	1.3	39.4	Jun 2026
UnitedHealth Group Incorporated UNH	0.7	26.8	Jun 2026
Progyny, Inc. PGNY	0.6	22.1	Mar 2026
The Cigna Group CI	0.4	11.4	Jun 2026
Centene Corporation CNC	0.3	13.4	Jun 2026
CVS Health Corporation CVS	—	31.6	Mar 2026
Oscar Health, Inc. OSCR	—	46.8	Mar 2026
Alignment Healthcare, Inc. ALHC	—	125.3	Jun 2026

Full 20-quarter history · every available company

PEG · reported quarter history

Centene Corporation · CNC

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 20230.3

Sep 20230.5

Dec 2023—

Mar 2024—

Jun 20241.5

Sep 20240.4

Dec 20240.4

Mar 20250.3

Jun 2025—

Sep 2025—

Dec 2025—

Mar 2026—

Jun 2026—

Elevance Health, Inc. · ELV

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 20232.8

Sep 2023—

Dec 2023—

Mar 2024—

Jun 20242.3

Sep 20242.1

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025—

Mar 2026—

Jun 2026—

Humana Inc. · HUM

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 20231.8

Sep 20232.2

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025—

Mar 2026—

Jun 2026—

Molina Healthcare, Inc. · MOH

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 20230.7

Jun 20230.8

Sep 20231.7

Dec 20230.5

Mar 20240.9

Jun 20241.0

Sep 20240.8

Dec 20241.6

Mar 20251.3

Jun 20251.3

Sep 2025—

Dec 2025—

Mar 2026—

Jun 2026—

Progyny, Inc. · PGNY

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 202312.3

Sep 20232.8

Dec 2023—

Mar 20241.5

Jun 20241.6

Sep 20242.5

Dec 2024—

Mar 2025—

Jun 2025—

Sep 20254.0

Dec 20252.8

Mar 20260.6

Jun 2026—

The Cigna Group · CI

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 20230.3

Jun 20230.4

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 20250.4

Jun 20250.4

Sep 2025—

Dec 2025—

Mar 20260.4

Jun 2026—

UnitedHealth Group Incorporated · UNH

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 20231.1

Jun 20231.3

Sep 20231.7

Dec 20231.8

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 20250.5

Jun 20250.3

Sep 20250.7

Dec 2025—

Mar 2026—

Jun 2026—

P/E · reported quarter history

Alignment Healthcare, Inc. · ALHC

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025—

Mar 2026195.8

Jun 2026125.3

Centene Corporation · CNC

Sep 202150.3

Dec 202136.1

Mar 202233.4

Jun 202226.9

Sep 202222.7

Dec 202239.6

Mar 202323.9

Jun 202313.9

Sep 202315.5

Dec 202315.0

Mar 202415.6

Jun 202412.6

Sep 202413.1

Dec 20249.6

Mar 20259.0

Jun 202513.4

Sep 2025—

Dec 2025—

Mar 2026—

Jun 2026—

CVS Health Corporation · CVS

Sep 202114.8

Dec 202117.1

Mar 202216.7

Jun 202214.9

Sep 202238.9

Dec 202228.6

Mar 202323.8

Jun 202329.9

Sep 202310.5

Dec 202312.2

Mar 202414.0

Jun 202410.5

Sep 202416.0

Dec 202412.3

Mar 202516.2

Jun 202519.3

Sep 2025198.4

Dec 202557.1

Mar 202631.6

Jun 2026—

Elevance Health, Inc. · ELV

Sep 202116.7

Dec 202118.6

Mar 202219.4

Jun 202219.5

Sep 202218.0

Dec 202221.1

Mar 202318.2

Jun 202316.9

Sep 202317.3

Dec 202318.7

Mar 202419.6

Jun 202419.0

Sep 202419.0

Dec 202414.4

Mar 202517.0

Jun 202516.6

Sep 202513.2

Dec 202513.9

Mar 202612.5

Jun 202617.2

Humana Inc. · HUM

Sep 202118.8

Dec 202120.5

Mar 202218.5

Jun 202219.1

Sep 202222.0

Dec 202223.2

Mar 202319.7

Jun 202316.7

Sep 202320.2

Dec 202322.9

Mar 202421.6

Jun 202426.7

Sep 202428.1

Dec 202425.4

Mar 202518.7

Jun 202518.8

Sep 202524.4

Dec 202526.0

Mar 202618.5

Jun 202637.6

Molina Healthcare, Inc. · MOH

Sep 202126.9

Dec 202128.3

Mar 202228.4

Jun 202221.8

Sep 202223.0

Dec 202224.4

Mar 202318.2

Jun 202319.1

Sep 202320.4

Dec 202319.3

Mar 202422.3

Jun 202416.3

Sep 202417.5

Dec 202414.3

Mar 202515.9

Jun 202514.7

Sep 202511.9

Dec 202519.5

Mar 202639.4

Jun 2026—

Oscar Health, Inc. · OSCR

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024134.4

Mar 202546.8

Jun 2025—

Sep 2025—

Dec 2025—

Mar 2026—

Jun 2026—

Progyny, Inc. · PGNY

Sep 202162.2

Dec 202176.3

Mar 202291.8

Jun 202263.2

Sep 202288.2

Dec 2022103.8

Mar 202374.7

Jun 202380.3

Sep 202365.4

Dec 202360.0

Mar 202462.5

Jun 202445.4

Sep 202428.9

Dec 202430.3

Mar 202539.2

Jun 202537.3

Sep 202534.2

Dec 202539.5

Mar 202622.1

Jun 2026—

The Cigna Group · CI

Sep 20218.4

Dec 202114.6

Mar 202214.8

Jun 202215.7

Sep 202213.2

Dec 202215.5

Mar 202311.6

Jun 202312.7

Sep 202316.1

Dec 202317.2

Mar 202429.8

Jun 202426.0

Sep 202432.7

Dec 202422.8

Mar 202518.2

Jun 202518.0

Sep 202512.7

Dec 202512.4

Mar 202611.3

Jun 202611.4

UnitedHealth Group Incorporated · UNH

Sep 202124.2

Dec 202127.8

Mar 202227.9

Jun 202226.8

Sep 202224.7

Dec 202225.0

Mar 202321.6

Jun 202321.5

Sep 202321.9

Dec 202322.1

Mar 202430.2

Jun 202433.8

Sep 202438.1

Dec 202432.6

Mar 202521.9

Jun 202513.5

Sep 202518.0

Dec 202525.0

Mar 202620.4

Jun 202626.8

10 · before the conclusion, check the blind spots

What can make this comparison misleading?

This Healthcare Plans comparison names 5 specific ways its own evidence can mislead, all listed below. All 11 companies here report on comparable dates, so no rank carries a stale marker. 1 of the 5 ranked sections has fewer than three usable current readings. A high growth rate can still be a low-base artefact.

Keep these limits visible

A high growth rate can be a low-base artefact. The page keeps level and change separate for that reason.
A high ROCE can be temporary or flattered by a small capital base. Read it beside margin, cash conversion and reinvestment.
The 4-Factor Sector Score ranks research priority, not portfolio action. Management quality, catalysts and risks need equally fresh evidence before capital is deployed.
An “all companies” line chart preserves completeness, but rank changes should be checked against reporting dates before drawing a conclusion.
Thin comparisons: Valuation have fewer than three usable current readings.

11 · evidence and freshness

How was this comparison built?

This comparison is built from the reported filings of 11 Healthcare Plans companies, normalized to a common $ scale and a shared quarter axis of up to 20 quarters each. Fundamentals run through Jun 2026 and market data through 2026-08-04. A second data feed fills gaps only after identity and scale reconciliation, and missing observations are never interpolated.

FundamentalsThrough Jun 2026 · up to 20 quarters per company

Market dataThrough 2026-08-04 · weekly price and relative-strength history

Derived metricsGrowth, changes and PEG are calculated only when their inputs are comparable.

Score confidenceMissing and stale evidence reduces confidence and pulls the 0–100 research-priority score toward neutral.

12 · questions investors ask, short speakable answers

Healthcare Plans company comparison FAQs

These 22 answers restate the Healthcare Plans comparison above in question form. Every one is computed from the same 11 companies and the same reported filings as the rankings and charts, current through Jun 2026. Price and relative-strength answers run through 2026-08-04. Nothing here is estimated, and none of it is a recommendation.

Is the Healthcare Plans sector outperforming S&P 500?

Which Healthcare Plans company is largest by revenue?

UnitedHealth Group Incorporated leads with revenue of $450,129 million, based on 5 of 11 comparable companies through Jun 2026.

Which Healthcare Plans company is growing fastest?

Clover Health Investments, Corp. has the fastest current revenue growth at 48.9%, across 5 of 11 comparable companies.

Which Healthcare Plans company has the strongest 4-Factor Sector Score?

Progyny, Inc. ranks first at 70.9/100 with 81.1% evidence confidence. The score prioritizes research; it is not a buy recommendation.

Which Healthcare Plans company has the lowest comparable PEG?

Progyny, Inc. has the lowest comparable PEG at 0.63, among 2 of 11 companies whose earnings and growth are steady enough for the ratio to mean anything.

How much history does this Healthcare Plans comparison include?

The page compares up to 20 reported quarters per company for fundamentals, returns and valuation, ending Jun 2026. Missing observations remain blank rather than being estimated.

How is the 4-Factor Sector Score calculated?

The four visible contributions add directly: growth and earnings up to 35 points, capital efficiency up to 25, valuation up to 20, and relative strength up to 20. Missing or stale evidence moves only the affected contribution toward neutral.

Which Healthcare Plans company is the biggest?

UnitedHealth Group Incorporated is the largest, with trailing-twelve-month revenue of $450,129 million, ahead of CVS Health Corporation at $407,905 million. That covers 5 of 11 companies with comparable reporting through Jun 2026.

Which Healthcare Plans company has the best profit margins?

Oscar Health, Inc. has the highest operating margin at 15.2%, from 11 of 11 comparable companies. Oscar Health, Inc. shows the biggest recent improvement, at +5.4 percentage points. A high margin matters most when it is holding or rising, not when it is peaking.

Which Healthcare Plans company makes the most profit?

UnitedHealth Group Incorporated earns the most, at $14,912 million of trailing-twelve-month net profit, from 5 of 11 comparable companies. Progyny, Inc. has the fastest profit growth at 28.9%, though growth off a small or recovering profit base overstates how much has actually changed.

Which Healthcare Plans company earns the highest return on capital?

Oscar Health, Inc. leads on return on capital employed at 36.6%, across 11 of 11 companies. Read it beside the length of its reported history: a high return that repeats for years is evidence of a durable business, while a single high reading can be a small capital base or one good year.

Which Healthcare Plans stock is the cheapest?

On PEG — where a LOWER number is cheaper — Progyny, Inc. screens cheapest at 0.63×. Only 2 of 11 companies have earnings and growth steady enough for the ratio to mean anything, so this is not a sector-wide "cheapest stock" verdict. Cheap on a multiple is a reason to investigate, never a reason to buy on its own.

Is the Healthcare Plans sector beating the market?

Healthcare Plans has outperformed S&P 500 by 32.3% over the last 52 weeks and 9.3% over 13 weeks, measured on an equal-weight index of its current members. Inside the sector, 7 of 11 covered companies are beating the market on their own. Sector strength does not transfer evenly to every stock in it.

Which Healthcare Plans stock has the strongest price momentum?

Oscar Health, Inc. has the strongest relative strength against S&P 500. Relative strength answers last, after growth, quality and valuation: price can move well before the fundamentals confirm it, and sometimes without them confirming at all.

Which Healthcare Plans company scores highest for research priority?

Progyny, Inc. scores 70.9 out of 100 with 81.1% evidence confidence, from 24.9 points on growth and earnings, 14.6 on capital efficiency, 15.5 on valuation and 15.9 on relative strength. This ranks what deserves work next. It is not a buy recommendation, and management quality, catalysts and risk still need separate research.

How many Healthcare Plans companies does this comparison cover, and over what period?

It compares 11 listed companies over up to 20 reported quarters of fundamentals, ending Jun 2026, plus weekly price and relative-strength history. Membership is the full sector list — nothing is dropped for having thin data.

What is the total market cap of the Healthcare Plans sector?

The 11 Healthcare Plans companies on this page carry $759,514 million of combined market value. UnitedHealth Group Incorporated is the largest at $370,114 million, about 49% of the sector's total on its own. Market value moves with price, so this reading is dated 2026-08-04.

What is the Healthcare Plans sector's P/E ratio?

The median price-to-earnings ratio across the 11 Healthcare Plans companies on this page is 31.6×, measured on the 10 that report a comparable figure. A sector-level history for this multiple is not held here, so this is a cross-section of today, not a comparison with the sector’s own past. Figures are as of 2026-08-04.

How is the Healthcare Plans sector performing?

7 of the 11 covered Healthcare Plans companies are beating S&P 500 on Mansfield relative strength. The sector itself is 32.3% ahead of S&P 500 over 52 weeks on an equal-weight index of its current members. Readings are as of 2026-08-04.

How many Healthcare Plans stocks are listed in the US?

This comparison covers 11 listed Healthcare Plans companies in the US, each above the size floor the site applies. The full ranked list is on this page, with reported fundamentals through Jun 2026. Membership is the full industry list — nothing is dropped for having thin data.

Why are some values on this page blank?

A blank means that company did not report a comparable figure for that period, so nothing is shown. Missing observations are never interpolated, carried forward, or replaced with a similar-looking accounting line, and a company with missing evidence has its research score pulled toward neutral rather than being scored as bad.

Is this investment advice?

No. Every figure here is a deterministic calculation from reported company filings and market data, published for research. It contains no recommendation to buy or sell any security, does not account for your circumstances, and is not a substitute for advice from a licensed adviser.