UnitedHealth Group Incorporated UNH

UnitedHealth Group looks like a classic compounder hiding in plain sight: gigantic yet still growing, with a moat built from regulatory licences, data scale and cost advantages few can match. Free cash gushes in, debt is moderate and management historically reinvests capital at mid-teens returns. Headline risks—from Medicare fraud probes to PBM reform—keep the valuation in check, giving patient investors a shot at buying a durable market leader below its long-run fair value.