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.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $111.72B | - | $113.16B | $111.62B | $109.58B | - | $100.82B | $98.86B | $99.80B | - |
| Cost of Revenue | $12.82B | - | $12.57B | $13.02B | $12.39B | - | $11.83B | $11.34B | $11.06B | - |
| Gross Profit | $98.90B | - | $100.59B | $98.60B | $97.19B | - | $88.99B | $87.52B | $88.74B | - |
| R&D | - | - | - | - | - | - | - | - | - | - |
| SG&A | $15.39B | - | $15.22B | $13.78B | $13.59B | - | $13.28B | $13.16B | $14.08B | - |
| Total Operating Expenses | $102.73B | - | $108.85B | $106.47B | $100.46B | - | $92.11B | $90.98B | $91.86B | - |
| D&A | $1.03B | - | $1.10B | $1.08B | $1.06B | - | $1.04B | $1.02B | $997.00M | - |
| Operating Income | $8.99B | - | $4.32B | $5.15B | $9.12B | - | $8.71B | $7.88B | $7.93B | - |
| Interest Expense | $955.00M | - | $1.00B | $1.03B | $998.00M | - | $1.07B | $985.00M | $844.00M | - |
| Income Tax | $1.48B | - | $686.00M | $510.00M | $1.63B | - | $1.36B | $1.24B | $1.22B | - |
| Net Income | $6.28B | - | $2.35B | $3.41B | $6.29B | - | $6.05B | $4.22B | ($1.41B) | - |
| EPS - Basic | $6.92 | - | $2.59 | $3.76 | $6.90 | - | $6.56 | $4.58 | ($1.53) | - |
| EPS - Diluted | $6.90 | - | $2.59 | $3.74 | $6.85 | - | $6.51 | $4.54 | ($1.53) | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $28.00B | $24.36B | $27.21B | $28.60B | $30.72B | $25.31B | $32.40B | $26.29B | $28.41B | $25.43B |
| Accounts Receivable | $26.59B | $23.02B | $22.67B | $24.14B | $26.94B | $22.36B | $20.02B | $23.11B | $27.20B | $21.28B |
| Inventory | - | $3.30B | - | - | - | $3.80B | - | - | - | $2.80B |
| Accounts Payable | - | - | - | - | - | - | - | - | - | - |
| Current Assets | $91.13B | $90.58B | $95.07B | $93.70B | $96.28B | $85.78B | $92.26B | $92.04B | $88.94B | $78.44B |
| Total Assets | $312.64B | $309.58B | $315.27B | $308.57B | $309.79B | $298.28B | $299.31B | $286.06B | $284.21B | $273.72B |
| Current Liabilities | $114.12B | $114.90B | $115.53B | $110.78B | $113.47B | $103.77B | $101.56B | $104.67B | $104.43B | $99.05B |
| Long-term Debt | $71.44B | $72.32B | $72.40B | $73.50B | $71.28B | $72.36B | $74.10B | $63.73B | $63.85B | $58.26B |
| Total Liabilities | $207.32B | $207.88B | $209.46B | $203.79B | $204.62B | $195.69B | $194.85B | $186.82B | $187.29B | $174.80B |
| Stockholders' Equity | $103.89B | $100.09B | $101.57B | $100.47B | $100.81B | $98.27B | $99.88B | $94.68B | $92.37B | $94.42B |
| Retained Earnings | $99.88B | $95.60B | $97.59B | $97.25B | $97.93B | $96.04B | $96.52B | $92.40B | $90.12B | $95.77B |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $8.91B | - | - | - | $5.46B | - | - | - | $1.14B | - |
| Investing Cash Flow | ($2.45B) | - | - | - | ($74.00M) | - | - | - | ($6.34B) | - |
| Financing Cash Flow | ($2.99B) | - | - | - | $99.00M | - | - | - | $8.23B | - |
| CapEx | $763.00M | - | - | - | $898.00M | - | - | - | $743.00M | - |
| Free Cash Flow | $8.15B | - | - | - | $4.56B | - | - | - | $401.00M | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | 88.5% | - | 88.9% | 88.3% | 88.7% | - | 88.3% | 88.5% | 88.9% | - |
| Operating margin | 8.0% | - | 3.8% | 4.6% | 8.3% | - | 8.6% | 8.0% | 7.9% | - |
| EBITDA margin | 9.0% | - | 4.8% | 5.6% | 9.3% | - | 9.7% | 9.0% | 8.9% | - |
| Net margin | 5.6% | - | 2.1% | 3.1% | 5.7% | - | 6.0% | 4.3% | -1.4% | - |
| Free cash flow margin | 7.3% | - | - | - | 4.2% | - | - | - | 0.4% | - |
| FCF / Net income | 1.30 | - | - | - | 0.72 | - | - | - | -0.28 | - |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - |
| SG&A / Revenue | 13.8% | - | 13.5% | 12.3% | 12.4% | - | 13.2% | 13.3% | 14.1% | - |
| Effective tax rate | 19.1% | - | 22.6% | 13.0% | 20.6% | - | 18.3% | 22.8% | - | - |
| Return on assets | 2.0% | - | 0.7% | 1.1% | 2.0% | - | 2.0% | 1.5% | -0.5% | - |
| Return on equity | 6.0% | - | 2.3% | 3.4% | 6.2% | - | 6.1% | 4.5% | -1.5% | - |
| Return on invested capital | 4.1% | - | 1.9% | 2.6% | 4.2% | - | 4.1% | 3.8% | 4.0% | - |
| Liquidity | ||||||||||
| Current ratio | 0.80 | 0.79 | 0.82 | 0.85 | 0.85 | 0.83 | 0.91 | 0.88 | 0.85 | 0.79 |
| Quick ratio | 0.80 | 0.76 | 0.82 | 0.85 | 0.85 | 0.79 | 0.91 | 0.88 | 0.85 | 0.76 |
| Cash ratio | 0.25 | 0.21 | 0.24 | 0.26 | 0.27 | 0.24 | 0.32 | 0.25 | 0.27 | 0.26 |
| Leverage | ||||||||||
| Debt / Equity | 0.69 | 0.72 | 0.71 | 0.73 | 0.71 | 0.74 | 0.74 | 0.67 | 0.69 | 0.62 |
| Debt / Assets | 0.23 | 0.23 | 0.23 | 0.24 | 0.23 | 0.24 | 0.25 | 0.22 | 0.22 | 0.21 |
| Debt / EBITDA | 7.13 | - | 13.37 | 11.79 | 7.00 | - | 7.60 | 7.16 | 7.15 | - |
| Interest coverage | 9.4x | - | 4.3x | 5.0x | 9.1x | - | 8.1x | 8.0x | 9.4x | - |
| Equity multiplier | 3.01 | 3.09 | 3.10 | 3.07 | 3.07 | 3.04 | 3.00 | 3.02 | 3.08 | 2.90 |
| Liabilities / Assets | 0.66 | 0.67 | 0.66 | 0.66 | 0.66 | 0.66 | 0.65 | 0.65 | 0.66 | 0.64 |
| Efficiency | ||||||||||
| Asset turnover | 0.36 | - | 0.36 | 0.36 | 0.35 | - | 0.34 | 0.35 | 0.35 | - |
| Inventory turnover | - | - | - | - | - | - | - | - | - | - |
| Days sales outstanding | 87d | - | 73d | 79d | 90d | - | 72d | 85d | 99d | - |
| Days inventory outstanding | - | - | - | - | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - | - | - | - | - |
| Valuation | ||||||||||
| P / E | 39.2x | - | 133.3x | 83.4x | 76.5x | - | 89.8x | 112.2x | - | - |
| P / B | 2.4x | - | 3.1x | 2.8x | 4.8x | - | 5.4x | 5.0x | 4.9x | - |
| P / S | 2.2x | - | 2.8x | 2.5x | 4.4x | - | 5.4x | 4.8x | 4.6x | - |
| EV / EBITDA | 28.9x | - | 66.3x | 52.7x | 51.2x | - | 60.1x | 57.3x | 55.1x | - |
| Growth | ||||||||||
| Revenue growth (YoY) | 2.0% | - | 12.2% | 12.9% | 9.8% | - | 9.2% | 6.4% | 8.6% | - |
| Revenue CAGR (3y) | 6.7% | - | 11.8% | 11.6% | 11.0% | - | 11.7% | 11.5% | 12.4% | - |
| Revenue CAGR (5y) | 9.7% | - | 11.7% | 12.4% | 11.2% | - | 10.8% | 10.3% | 10.6% | - |
| Gross profit growth (YoY) | 1.8% | - | 13.0% | 12.7% | 9.5% | - | 7.3% | 5.2% | 7.5% | - |
| Operating income growth (YoY) | -1.4% | - | -50.4% | -34.6% | 15.0% | - | 2.1% | -2.3% | -1.9% | - |
| Net income growth (YoY) | -0.2% | - | -61.2% | -19.2% | - | - | 3.7% | -23.0% | - | - |
| EPS growth (YoY) | 0.7% | - | -60.2% | -17.6% | - | - | 4.3% | -22.0% | - | - |
| EPS CAGR (3y) | 5.1% | - | -22.4% | -11.2% | 9.1% | - | 15.0% | 0.6% | - | - |
| EPS CAGR (5y) | 6.3% | - | -4.7% | -11.6% | 14.2% | - | 12.1% | 5.8% | - | - |
| FCF growth (YoY) | 78.8% | - | - | - | 1036.7% | - | - | - | -97.4% | - |
| FCF CAGR (5y) | 8.4% | - | - | - | 13.0% | - | - | - | -31.6% | - |
| Book value growth (YoY) | 3.1% | 1.9% | 1.7% | 6.1% | 9.1% | 4.1% | 11.5% | 8.4% | 7.6% | 15.9% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$544.56B totalUnitedhealthcare$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 totalProduct$53.38B · 58.4%
Service$38.04B · 41.6%
Peer comparison
Same SIC group: Hospital & Medical Service Plans
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 |