UNH · Unitedhealth Group Inc - Financials

Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.

Price · UNH

1Y 3Y 5Y Max

Annual Quarterly

Income Statement

Line item	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Revenue	$447.57B	$400.28B	$371.62B	$324.16B	$287.60B	$257.14B
Cost of Revenue	$50.66B	$46.69B	$38.77B	$33.70B	$31.03B	$30.75B
Gross Profit	$396.91B	$353.58B	$332.85B	$290.46B	$256.56B	$226.40B
R&D	-	-	-	-	-	-
SG&A	$59.59B	$53.01B	$54.63B	$47.78B	$42.58B	$41.70B
Total Operating Expenses	$428.60B	$367.99B	$339.26B	$295.73B	$263.63B	$234.74B
D&A	$4.36B	$4.10B	$3.97B	$3.40B	$3.10B	$2.89B
Operating Income	$18.96B	$32.29B	$32.36B	$28.43B	$23.97B	$22.41B
Interest Expense	$4.00B	$3.91B	$3.25B	$2.09B	$1.66B	$1.66B
Income Tax	$1.89B	$4.83B	$5.97B	$5.70B	$4.58B	$4.97B
Net Income	$12.06B	$14.40B	$22.38B	$20.12B	$17.29B	$15.40B
EPS - Basic	$13.28	$15.64	$24.12	$21.47	$18.33	$16.23
EPS - Diluted	$13.23	$15.51	$23.86	$21.18	$18.08	$16.03

Balance Sheet

Line item	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Cash & Equivalents	$24.36B	$25.31B	$25.43B	$23.36B	$21.38B	$16.92B
Accounts Receivable	$23.02B	$22.36B	$21.28B	$17.68B	$14.22B	$12.87B
Inventory	$3.30B	$3.80B	$2.80B	$2.90B	-	-
Accounts Payable	-	-	-	-	-	-
Current Assets	$90.58B	$85.78B	$78.44B	$69.07B	$61.76B	$53.72B
Total Assets	$309.58B	$298.28B	$273.72B	$245.71B	$212.21B	$197.29B
Current Liabilities	$114.90B	$103.77B	$99.05B	$89.24B	$78.29B	$72.42B
Long-term Debt	$72.32B	$72.36B	$58.26B	$54.51B	$42.38B	$38.65B
Total Liabilities	$207.88B	$195.69B	$174.80B	$159.36B	$135.73B	$126.75B
Stockholders' Equity	$100.09B	$98.27B	$94.42B	$81.45B	$75.05B	$68.33B
Retained Earnings	$95.60B	$96.04B	$95.77B	$86.16B	$77.13B	$69.30B

Cash Flow

Line item	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Operating Cash Flow	$19.70B	$24.20B	$29.07B	$26.21B	$22.34B	$22.17B
Investing Cash Flow	($8.69B)	($20.53B)	($15.57B)	($28.48B)	($10.37B)	($12.53B)
Financing Cash Flow	($11.64B)	($3.51B)	($11.53B)	$4.23B	($7.46B)	($3.59B)
CapEx	$3.62B	$3.50B	$3.39B	$2.80B	$2.45B	$2.05B
Free Cash Flow	$16.07B	$20.70B	$25.68B	$23.40B	$19.89B	$20.12B

Ratios

Metric	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Profitability
Gross margin	88.7%	88.3%	89.6%	89.6%	89.2%	88.0%
Operating margin	4.2%	8.1%	8.7%	8.8%	8.3%	8.7%
EBITDA margin	5.2%	9.1%	9.8%	9.8%	9.4%	9.8%
Net margin	2.7%	3.6%	6.0%	6.2%	6.0%	6.0%
Free cash flow margin	3.6%	5.2%	6.9%	7.2%	6.9%	7.8%
FCF / Net income	1.33	1.44	1.15	1.16	1.15	1.31
R&D / Revenue	-	-	-	-	-	-
SG&A / Revenue	13.3%	13.2%	14.7%	14.7%	14.8%	16.2%
Effective tax rate	13.6%	25.1%	21.1%	22.1%	20.9%	24.4%
Return on assets	3.9%	4.8%	8.2%	8.2%	8.1%	7.8%
Return on equity	12.0%	14.7%	23.7%	24.7%	23.0%	22.5%
Return on invested capital	9.5%	14.2%	16.7%	16.3%	16.1%	15.8%
Liquidity
Current ratio	0.79	0.83	0.79	0.77	0.79	0.74
Quick ratio	0.76	0.79	0.76	0.74	0.79	0.74
Cash ratio	0.21	0.24	0.26	0.26	0.27	0.23
Leverage
Debt / Equity	0.72	0.74	0.62	0.67	0.56	0.57
Debt / Assets	0.23	0.24	0.21	0.22	0.20	0.20
Debt / EBITDA	3.10	1.99	1.60	1.71	1.57	1.53
Interest coverage	4.7x	8.3x	10.0x	13.6x	14.4x	13.5x
Equity multiplier	3.09	3.04	2.90	3.02	2.83	2.89
Liabilities / Assets	0.67	0.66	0.64	0.65	0.64	0.64
Efficiency
Asset turnover	1.45	1.34	1.36	1.32	1.36	1.30
Inventory turnover	15.35	12.29	13.85	11.62	-	-
Days sales outstanding	19d	20d	21d	20d	18d	18d
Days inventory outstanding	24d	30d	26d	31d	-	-
Days payable outstanding	-	-	-	-	-	-
Cash conversion cycle	-	-	-	-	-	-
Valuation
P / E	25.0x	32.6x	22.1x	25.0x	27.8x	21.9x
P / B	3.0x	4.8x	5.2x	6.2x	6.4x	4.9x
P / S	0.7x	1.2x	1.3x	1.6x	1.7x	1.3x
EV / EBITDA	14.9x	14.2x	14.5x	16.8x	18.5x	14.2x
Growth
Revenue growth (YoY)	11.8%	7.7%	14.6%	12.7%	11.8%	6.2%
Revenue CAGR (3y)	11.4%	11.7%	13.1%	10.2%	8.3%	8.5%
Revenue CAGR (5y)	11.7%	10.6%	10.4%	10.0%	9.2%	10.4%
Gross profit growth (YoY)	12.3%	6.2%	14.6%	13.2%	13.3%	5.8%
Operating income growth (YoY)	-41.3%	-0.2%	13.8%	18.6%	7.0%	13.8%
Net income growth (YoY)	-16.3%	-35.6%	11.2%	16.4%	12.2%	11.3%
EPS growth (YoY)	-14.7%	-35.0%	12.7%	17.1%	12.8%	11.9%
EPS CAGR (3y)	-14.5%	-5.0%	14.2%	13.9%	14.0%	14.4%
EPS CAGR (5y)	-3.8%	1.6%	14.4%	14.6%	20.1%	21.7%
FCF growth (YoY)	-22.4%	-19.4%	9.7%	17.7%	-1.2%	22.8%
FCF CAGR (5y)	-4.4%	4.8%	13.5%	15.1%	19.7%	19.7%
Book value growth (YoY)	1.9%	4.1%	15.9%	8.5%	9.8%	13.1%

Sales by segment

From XBRL dimensional facts in the 10-K period ending 2025-12-31.

Business segments

$544.56B total

Unitedhealthcare$342.73B · 62.9%

Total Optum$100.92B · 18.5%

Optumrx$57.68B · 10.6%

Optumhealth$36.87B · 6.8%

Optuminsight$6.37B · 1.2%

Product / service

$91.42B total

Product$53.38B · 58.4%

Service$38.04B · 41.6%

Stability scores

Altman Z′

FY 2025 · bankruptcy risk

2.04

Grey zone

Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.

Piotroski F-score

FY 2025 · 9-point quality

7/9

Strong

✓Net income positive
✓Operating cash flow positive
✗ROA improved YoY
✓Cash flow > net income
✓Long-term debt decreased
✗Current ratio improved
✓No share dilution
✓Gross margin improved
✓Asset turnover improved

Peer comparison

Same SIC group: Hospital & Medical Service Plans

Company	Revenue (last FY)	Net margin	ROE
TRUP	$1.44B	1.4%	5.1%
CNC	$194.78B	-3.4%	-33.4%
ALHC	$3.95B	-0.0%	-0.4%
CI	$274.90B	1.2%	8.2%
CLOV	$1.92B	-4.4%	-27.7%

Comparing UNITEDHEALTH GROUP INC against the 5 most active filers in the same SIC group.

Dividends

$8.84/share trailing 12 months · +5.2% YoY

Ex-date	Per share
Mar 9, 2026	$2.2100
Dec 8, 2025	$2.2100
Sep 15, 2025	$2.2100
Jun 16, 2025	$2.2100
Mar 10, 2025	$2.1000
Dec 9, 2024	$2.1000
Sep 16, 2024	$2.1000
Jun 17, 2024	$2.1000
Mar 8, 2024	$1.8800
Dec 1, 2023	$1.8800
Sep 8, 2023	$1.8800
Jun 15, 2023	$1.8800
Mar 10, 2023	$1.6500
Dec 2, 2022	$1.6500
Sep 9, 2022	$1.6500
Jun 16, 2022	$1.6500
Mar 11, 2022	$1.4500
Dec 3, 2021	$1.4500
Sep 10, 2021	$1.4500
Jun 18, 2021	$1.4500
Mar 12, 2021	$1.2500
Dec 4, 2020	$1.2500
Sep 11, 2020	$1.2500
Jun 19, 2020	$1.2500