These Are the 2 Worst-Performing Stocks in the Dow Jones Industrial Average So Far in 2025

While the Dow Jones Industrial Average has gained nearly 5% year-to-date in 2025, two major components, Salesforce and UnitedHealth Group, have experienced significant declines. Salesforce is down almost 25% as it projects its first single-digit annual revenue growth, raising concerns about its market maturity. Concurrently, UnitedHealth Group's stock has plummeted approximately 40% amidst reduced earnings forecasts due to rising costs and claims, a Department of Justice overbilling investigation, and a recent CEO departure, despite its current low valuation.

Analysis

Despite the Dow Jones Industrial Average posting a nearly 5% gain year-to-date in 2025, two of its major components, Salesforce (CRM) and UnitedHealth Group (UNH), have significantly underperformed. Salesforce has seen its stock decline by nearly 25% following a sharp deceleration in its growth outlook; the company now anticipates 7% to 8% annual revenue growth, a stark departure from its historical 20% to 30% range, fueling analyst concerns that it is now a mature business in a mature market. The situation at UnitedHealth Group is more severe, with its stock plummeting approximately 40% amid a confluence of negative catalysts. These include dramatically reduced earnings forecasts driven by higher costs and claims, a U.S. Department of Justice investigation into overbilling practices, and the departure of its CEO in May. While UNH trades at an ostensibly low valuation of 12.2 times earnings, the combination of operational, legal, and governance headwinds presents a complex and high-risk scenario.

Key Decisions for Investors

• Investors in Salesforce (CRM) should re-evaluate their thesis based on its transition from a high-growth name to a mature tech company, as its valuation may not yet reflect the new reality of single-digit revenue growth.
• For UnitedHealth Group (UNH), the combination of a DOJ investigation, severe margin pressure, and management instability represents significant near-term risk, suggesting its low P/E ratio could be a value trap until there is more clarity on these issues.
• Given the substantial stock declines, contrarian investors might screen these names for a turnaround, but should await definitive positive catalysts, such as a stabilization in growth for CRM or a resolution of legal and cost issues for UNH, before considering entry.