COMP <GO>
CARL vs UNH // FORWARD P/E MULTIPLE
Carlsmed Inc. (NASDAQ) VS. UnitedHealth Group Incorporated (NYSE) • 15-METRIC TALLY: CARL 2
— UNH 8
■ METRIC PARITY
LAST: $15.77 (+3.01%) • MKT CAP: $430.6M
forward-pe
—
LAST: $410.91 (+0.94%) • MKT CAP: $368.83B
forward-pe
17.7x
15-METRIC INSTITUTIONAL SIDE-BY-SIDE SCORECARD (CARL VS. UNH)
EMERALD CELL = QUANTITATIVE EDGE
| INSTITUTIONAL METRIC | CARL | UNH | SPREAD (A - B) | ADVANTAGE | DEDICATED URL |
|---|---|---|---|---|---|
| Gross Profit Margin | 75.30% | 88.57% | -13.27 | UNH | /gross-margins <GO> |
| Return on Invested Capital (ROIC) | -35.00% | 11.47% | -46.47 | UNH | /roic <GO> |
| EV/EBITDA & P/E Valuation | — | 16.4x | — | TIE | /valuation <GO> |
| Free Cash Flow Yield | -6.88% | 6.48% | -13.36 | UNH | /fcf-yield <GO> |
| Operating Margin | -60.00% | 4.82% | -64.82 | UNH | /operating-margins <GO> |
| Net Profit Margin | -58.70% | 3.14% | -61.84 | UNH | /net-margins <GO> |
| Revenue Growth (YoY) | — | 6.46% | — | TIE | /revenue-growth <GO> |
| Dividend Yield & FCF Payout Safety | 0.00% | 2.28% | -2.28 | UNH | /dividend-safety <GO> |
| Altman Z-Score & Debt/Equity | 7.83 | 3.12 | +4.71 | CARL | /balance-sheet <GO> |
| Piotroski F-Score Quality | 3/9 | 7/9 | -4.00 | UNH | /piotroski-score <GO> |
| Options Implied Move & Put/Call Skew | — | 6.74% | — | TIE | /options-implied-move <GO> |
| RSI-14 & 200D SMA Momentum | 59.5 | 59.2 | +0.30 | CARL | /rsi-technicals <GO> |
| 10Y Yield & FRED Macro Beta | — | 0.33 | — | TIE | /macro-sensitivity <GO> |
| Forward P/E Multiple ACTIVE | — | 17.7x | — | TIE | /forward-pe <GO> |
| Enterprise Scale & Market Cap | $430.6M | $368.83B | -$368.40B | UNH | /market-cap <GO> |
5-YEAR HISTORICAL XBRL REVENUE & MARGIN TRAJECTORY SEC FORM 10-K FY
| FISCAL YEAR | CARL REV | UNH REV | CARL GROSS % | UNH GROSS % | CARL FCF | UNH FCF |
|---|---|---|---|---|---|---|
| FY 2025 | $50.5M | $447.57B | 75.3% | 88.7% | -$29.6M | $16.07B |
| FY 2024 | $27.2M | $400.28B | 73.8% | 88.3% | -$25.6M | $20.70B |
| FY 2023 | — | $371.62B | — | 89.6% | — | $25.68B |
| FY 2022 | — | $324.16B | — | 89.6% | — | $23.40B |
| FY 2021 | — | $287.60B | — | 89.2% | — | $19.89B |
FRED MACRO REGIME CORRELATION COMPARISON PEARSON r
CARL // BETA —
UNH // BETA 0.33