UNITEDHEALTH GROUP INC UNH

Financials SIC 6324 - Hospital & Medical Service Plans NAICS Finance and Insurance › Insurance Carriers and Related Activities › Insurance Carriers derived NYSE

UnitedHealth Group Incorporated is a health care and well-being company with a mission to help people live healthier lives and help make the health system work better for everyone. Our two distinct, yet complementary businesses — Optum and UnitedHealthcare — are working to help build a modern, high-performing health system through improved access, affordability, outcomes and experiences for the individuals and organizations we are privileged to serve.

The ability to analyze complex data and apply deep health care expertise and insights allows us to serve patients, consumers, care providers, businesses, communities and governments with more innovative products and complete, end-to-end offerings for many of the biggest challenges facing health care today.

Last close 418.09 2026-10-23
Market cap $375.28B 2026-06-30 share count
52-week range 255.97 - 461.62

Valuation FY2025 figures against the last close

P/S0.8x
P/E31.6x
P/FCF23.3x
EV/EBITDA21.3x
Dividend yield0.5%
Diluted EPS13.23

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $447.57B$400.28B$371.62B$324.16B$287.60B$257.14B$242.16B$226.25B$201.16B$184.84B
Cost of revenue $50.66B$46.69B$38.77B$33.70B$31.03B$30.75B$28.12B$27.00B$24.11B$24.42B
Gross profit $396.91B$353.58B$332.85B$290.46B$256.56B$226.40B$214.04B$199.25B$177.05B$160.42B
SG&A $59.59B$53.01B$54.63B$47.78B$42.58B$41.70B$35.19B$34.07B$29.56B$28.40B
Total operating expenses $428.60B$367.99B$339.26B$295.73B$263.63B$234.74B$222.47B$208.90B$185.95B$171.91B
Operating income $18.96B$32.29B$32.36B$28.43B$23.97B$22.41B$19.68B$17.34B$15.21B$12.93B
Interest expense $4.00B$3.91B$3.25B$2.09B$1.66B$1.66B$1.70B$1.40B$1.19B$1.07B
Pre-tax income $14.70B$20.07B$29.11B$26.34B$22.31B$20.74B$17.98B$15.94B$14.02B$11.86B
Income tax $1.89B$4.83B$5.97B$5.70B$4.58B$4.97B$3.74B$3.56B$3.20B$4.79B
Net income $12.81B$15.24B$23.14B$20.64B$17.73B$15.40B$13.84B$11.99B$10.56B$7.02B
EPS, basic 13.2815.6424.1221.4718.3316.2314.5512.4510.957.37
EPS, diluted 13.2315.5123.8621.1818.0816.0314.3312.1910.727.25
Shares, diluted (wtd. avg.) 911.0M929.0M938.0M950.0M956.0M961.0M966.0M983.0M985.0M968.0M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $24.36B$25.31B$25.43B$23.36B$21.38B$16.92B$10.98B$10.87B$11.98B$10.43B
Short-term investments $3.76B$3.80B$4.20B$4.55B$2.53B$2.86B$3.26B$3.46B$3.51B$2.85B
Receivables $23.02B$22.36B$21.28B$17.68B$14.22B$12.87B$11.82B$11.39B$9.57B$8.15B
Inventory $3.30B$3.80B$2.80B$3.50B$2.90B—————
Total current assets $90.58B$85.78B$78.44B$69.07B$61.76B$53.72B$42.63B$38.69B$37.08B$33.88B
Property, plant and equipment $10.76B$10.55B$11.45B$10.13B$8.97B$8.63B$8.70B$8.46B$7.01B$5.90B
Goodwill $110.50B$106.73B$103.73B$93.35B$75.80B$71.34B$65.66B$58.91B$54.56B$47.58B
Other intangibles $20.47B$23.27B$15.19B$14.40B$10.04B$10.86B$10.35B$9.32B$8.49B$8.54B
Total assets $309.58B$298.28B$273.72B$245.71B$212.21B$197.29B$173.89B$152.22B$139.06B$122.81B
Accounts payable $38.03B$34.34B$31.96B$27.71B$24.64B$22.50B$19.00B$16.70B$15.18B$13.36B
Short-term debt $6.07B$4.54B$4.27B$3.11B$3.62B$4.82B$3.87B$1.97B$2.86B$7.19B
Total current liabilities $114.90B$103.77B$99.05B$89.24B$78.29B$72.42B$61.78B$53.21B$50.46B$49.25B
Long-term debt $72.32B$72.36B$58.26B$54.51B$42.38B$38.65B$36.81B$34.58B$28.84B$25.78B
Total liabilities $207.88B$195.69B$174.80B$159.36B$135.73B$126.75B$111.73B$95.99B$87.04B$82.62B
Retained earnings $95.60B$96.04B$95.77B$86.16B$77.13B$69.30B$61.18B$55.85B$48.73B$40.95B
Total equity $100.09B$98.27B$94.42B$81.45B$75.05B$68.33B$60.44B$54.32B$49.83B$38.18B

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $19.70B$24.20B$29.07B$26.21B$22.34B$22.17B$18.46B$15.71B$13.60B$9.79B
Depreciation and amortisation $1.00B$1.00B$1.10B$1.10B$1.00B$1.00B$995.0M$924.0M$799.0M$698.0M
Stock-based compensation $971.0M$1.02B$1.06B$925.0M$800.0M$679.0M$697.0M$638.0M$597.0M$485.0M
Capital expenditure $3.62B$3.50B$3.39B$2.80B$2.45B$2.05B$2.07B$2.06B$2.02B$1.71B
Investing cash flow -$8.69B-$20.53B-$15.57B-$28.48B-$10.37B-$12.53B-$12.70B-$12.38B-$8.60B-$9.36B
Financing cash flow -$11.64B-$3.51B-$11.53B$4.23B-$7.46B-$3.59B-$5.62B-$4.37B-$3.44B-$1.01B
Dividends paid $2.00B$7.53B$6.76B$5.99B$5.28B$4.58B$3.93B$3.32B$2.77B$2.26B
Buybacks $5.54B$9.00B$8.00B$7.00B$5.00B$4.25B$5.50B$4.50B$1.50B$1.28B

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001104659-26-046125.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. 0 200B 400B 600B Revenue, FY2016: 184.8B Gross profit, FY2016: 160.4B Net income, FY2016: 7B Revenue, FY2017: 201.2B Gross profit, FY2017: 177B Net income, FY2017: 10.6B Revenue, FY2018: 226.2B Gross profit, FY2018: 199.2B Net income, FY2018: 12B Revenue, FY2019: 242.2B Gross profit, FY2019: 214B Net income, FY2019: 13.8B Revenue, FY2020: 257.1B Gross profit, FY2020: 226.4B Net income, FY2020: 15.4B Revenue, FY2021: 287.6B Gross profit, FY2021: 256.6B Net income, FY2021: 17.7B Revenue, FY2022: 324.2B Gross profit, FY2022: 290.5B Net income, FY2022: 20.6B Revenue, FY2023: 371.6B Gross profit, FY2023: 332.9B Net income, FY2023: 23.1B Revenue, FY2024: 400.3B Gross profit, FY2024: 353.6B Net income, FY2024: 15.2B Revenue, FY2025: 447.6B Gross profit, FY2025: 396.9B Net income, FY2025: 12.8B FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $184.84B $201.16B $226.25B $242.16B $257.14B $287.60B $324.16B $371.62B $400.28B $447.57B
Gross profit $160.42B $177.05B $199.25B $214.04B $226.40B $256.56B $290.46B $332.85B $353.58B $396.91B
Net income $7.02B $10.56B $11.99B $13.84B $15.40B $17.73B $20.64B $23.14B $15.24B $12.81B

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Results announced Item 2.02
  • Regulation FD disclosure Item 7.01
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Officer or director change Item 5.02
  • Results announced Item 2.02
  • Regulation FD disclosure Item 7.01
  • Officer or director change Item 5.02
  • Charter or fiscal year changed A change to the company's governing documents, or to when its year ends. Item 5.03

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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