Healthcare · Managed Health Care

UnitedHealth Group Incorporated

NYSEUNH ISINUS91324P1021 SEC CIK0000731766 Listed on NYSE · USD

$404.21 +1.26 (+0.31%) Pre-market $405.77 (+0.70%) ≈ ₹37,936 a share

Open chart

Price, last 12 months+24.28% in a year

Key numbers

Market value: $362.18B
P/E (TTM): 23.1
Forward P/E: 18.8
EPS (TTM): $17.52
Dividend yield: 2.30%
Beta: 0.52
Day range: $399.99 – $405.72
52-week range: $255.97 – $461.62
Volume: 782,397
10-day avg volume: $5.39M
Revenue (TTM): $449.66B
EBITDA (TTM): $28.18B
Gross margin: —
Net margin: 3.7%
Return on equity: 16.4%
Debt / equity: 75.8%
Price / sales: 0.81
Shares out: 896.02M

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Quarterly results

Results for each quarter

Last 12 quarters from 10-Q and 10-K filings with the US SEC. Q4 = full year minus the first three quarters. Hover a bar to see the number.

Revenue and net income

$94.43B$7.69B$5.46B

Dec 23

$99.80B$7.93B$-1.41B

Mar 24

$98.86B$7.88B$4.22B

Jun 24

$100.82B$8.71B$6.06B

Sep 24

$100.81B$7.77B$5.54B

Dec 24

$109.58B$9.12B$6.29B

Mar 25

$111.62B$5.15B$3.41B

Jun 25

$113.16B$4.32B$2.35B

Sep 25

$113.22B$380.00M$10.00M

Dec 25

$111.72B$8.99B$6.28B

Mar 26

$112.03B$7.99B$5.48B

Jun 26

$112.69B$6.56B$4.11B

Sep 26

Revenue · QoQ (vs last quarter)

—+5.7%-0.9%+2.0%0.0%+8.7%+1.9%+1.4%+0.0%-1.3%+0.3%+0.6%

Revenue · YoY (vs a year ago)

————+6.8%+9.8%+13%+12%+12%+2.0%+0.4%-0.4%

Net income · QoQ (vs last quarter)

—-126%+399%+44%-8.5%+14%-46%-31%-100%+62,700%-13%-25%

Net income · YoY (vs a year ago)

————+1.6%+547%-19%-61%-100%-0.2%+61%+75%

RevenueOperating incomeNet incomeLine = trend

US$	Dec 23	Mar 24	Jun 24	Sep 24	Dec 24	Mar 25	Jun 25	Sep 25	Dec 25	Mar 26	Jun 26	Sep 26
Revenue	$94.43B	$99.80B	$98.86B	$100.82B	$100.81B	$109.58B	$111.62B	$113.16B	$113.22B	$111.72B	$112.03B	$112.69B
Cost of revenue	$10.19B	$11.06B	$11.34B	$11.83B	$12.46B	$12.39B	$13.02B	$12.57B	$12.68B	$12.82B	$13.38B	$13.71B
Gross profit	$84.23B	$88.74B	$87.52B	$88.99B	$88.34B	$97.19B	$98.60B	$100.60B	$100.54B	$98.90B	$98.66B	$98.99B
Gross margin	89.2%	88.9%	88.5%	88.3%	87.6%	88.7%	88.3%	88.9%	88.8%	88.5%	88.1%	87.8%
Selling, general & admin	$13.34B	$14.08B	$13.16B	$13.28B	$12.49B	$13.59B	$13.78B	$15.22B	$17.00B	$15.39B	$14.27B	$14.37B
Operating income	$7.69B	$7.93B	$7.88B	$8.71B	$7.77B	$9.12B	$5.15B	$4.32B	$380.00M	$8.99B	$7.99B	$6.56B
Operating margin	8.1%	7.9%	8.0%	8.6%	7.7%	8.3%	4.6%	3.8%	0.3%	8.0%	7.1%	5.8%
Interest expense	$830.00M	$844.00M	$985.00M	$1.07B	$1.00B	$998.00M	$1.03B	$1.00B	$974.00M	$955.00M	$962.00M	$963.00M
Pre-tax income	$6.86B	$1.00M	$5.67B	$7.61B	$6.79B	$8.11B	$4.08B	$3.23B	$-720.00M	$7.96B	$6.97B	$5.52B
Income tax	$1.18B	$1.22B	$1.24B	$1.36B	$1.01B	$1.63B	$510.00M	$686.00M	$-938.00M	$1.48B	$1.30B	$1.22B
Net income	$5.46B	$-1.41B	$4.22B	$6.06B	$5.54B	$6.29B	$3.41B	$2.35B	$10.00M	$6.28B	$5.48B	$4.11B
Net margin	5.8%	-1.4%	4.3%	6.0%	5.5%	5.7%	3.1%	2.1%	0.0%	5.6%	4.9%	3.6%
EPS (diluted)	—	$-1.53	$4.54	$6.51	—	$6.85	$3.74	$2.59	—	$6.90	$6.04	$4.56

Income statement

Results for each year

8 fiscal years from the company's 10-K filings with the US SEC.

Revenue, gross profit and net income

$226.25B$199.25B$11.99B

FY18

$242.16B$214.04B$13.84B

FY19

$257.14B$226.40B$15.40B

FY20

$287.60B$256.56B$17.29B

FY21

$324.16B$290.46B$20.12B

FY22

$371.62B$332.85B$22.38B

FY23

$400.28B$353.58B$14.41B

FY24

$447.57B$396.91B$12.06B

FY25

Revenue · YoY (vs a year ago)

—+7.0%+6.2%+12%+13%+15%+7.7%+12%

Net income · YoY (vs a year ago)

—+15%+11%+12%+16%+11%-36%-16%

RevenueGross profitNet incomeLine = trend

$12.19

FY18

$14.33

FY19

$16.03

FY20

$18.08

FY21

$21.18

FY22

$23.86

FY23

$15.51

FY24

$13.23

FY25

EPS (diluted) · YoY (vs a year ago)

—+18%+12%+13%+17%+13%-35%-15%

EPS (diluted)Line = trend

US$	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$226.25B	$242.16B	$257.14B	$287.60B	$324.16B	$371.62B	$400.28B	$447.57B
Revenue growth	—	7.0%	6.2%	11.8%	12.7%	14.6%	7.7%	11.8%
Cost of revenue	$27.00B	$28.12B	$30.75B	$31.03B	$33.70B	$38.77B	$46.69B	$50.66B
Gross profit	$199.25B	$214.04B	$226.40B	$256.56B	$290.46B	$332.85B	$353.58B	$396.91B
Gross margin	88.1%	88.4%	88.0%	89.2%	89.6%	89.6%	88.3%	88.7%
Selling, general & admin	$34.07B	$35.19B	$41.70B	$42.58B	$47.78B	$54.63B	$53.01B	$59.59B
Operating income	$17.34B	$19.69B	$22.41B	$23.97B	$28.44B	$32.36B	$32.29B	$18.96B
Operating margin	7.7%	8.1%	8.7%	8.3%	8.8%	8.7%	8.1%	4.2%
Depreciation & amortisation	$2.43B	$2.72B	$2.89B	$3.10B	$3.40B	$3.97B	$4.10B	$4.36B
Interest expense	$1.40B	$1.70B	$1.66B	$1.66B	$2.09B	$3.25B	$3.91B	$4.00B
Pre-tax income	$15.94B	$17.98B	$20.74B	$22.31B	$26.34B	$29.11B	$20.07B	$14.70B
Income tax	$3.56B	$3.74B	$4.97B	$4.58B	$5.70B	$5.97B	$4.83B	$1.89B
Tax rate	22.3%	20.8%	24.0%	20.5%	21.7%	20.5%	24.1%	12.9%
Net income	$11.99B	$13.84B	$15.40B	$17.29B	$20.12B	$22.38B	$14.41B	$12.06B
Net margin	5.3%	5.7%	6.0%	6.0%	6.2%	6.0%	3.6%	2.7%
EPS (diluted)	$12.19	$14.33	$16.03	$18.08	$21.18	$23.86	$15.51	$13.23

Balance sheet

Assets and debt

At each fiscal year end.

Equity, debt and cash

$54.32B$36.55B$14.32B

FY18

$60.44B$40.68B$14.25B

FY19

$68.33B$43.47B$19.78B

FY20

$75.05B$46.00B$23.91B

FY21

$81.45B$57.62B$27.91B

FY22

$94.42B$62.54B$29.63B

FY23

$98.27B$76.90B$29.11B

FY24

$100.09B$78.39B$28.12B

FY25

Shareholders' equity · YoY (vs a year ago)

—+11%+13%+9.8%+8.5%+16%+4.1%+1.9%

Shareholders' equityTotal debtCash + short-term investmentsLine = trend

US$	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & equivalents	$10.87B	$10.99B	$16.92B	$21.38B	$23.37B	$25.43B	$25.31B	$24.37B
Short-term investments	$3.46B	$3.26B	$2.86B	$2.53B	$4.55B	$4.20B	$3.80B	$3.76B
Current assets	$38.69B	$42.63B	$53.72B	$61.76B	$69.07B	$78.44B	$85.78B	$90.58B
Total assets	$152.22B	$173.89B	$197.29B	$212.21B	$245.71B	$273.72B	$298.28B	$309.58B
Current liabilities	$53.21B	$61.78B	$72.42B	$78.29B	$89.24B	$99.05B	$103.77B	$114.90B
Long-term debt	$34.58B	$36.81B	$38.65B	$42.38B	$54.51B	$58.26B	$72.36B	$72.32B
Short-term debt	$1.97B	$3.87B	$4.82B	$3.62B	$3.11B	$4.27B	$4.55B	$6.07B
Total debt	$36.55B	$40.68B	$43.47B	$46.00B	$57.62B	$62.54B	$76.90B	$78.39B
Total liabilities	$95.99B	$111.73B	$126.75B	$135.73B	$159.36B	$174.80B	$195.69B	$207.88B
Shareholders' equity	$54.32B	$60.44B	$68.33B	$75.05B	$81.45B	$94.42B	$98.27B	$100.09B
Current ratio	0.73	0.69	0.74	0.79	0.77	0.79	0.83	0.79
Debt / equity	0.67	0.67	0.64	0.61	0.71	0.66	0.78	0.78
Return on equity	22.1%	22.9%	22.5%	23.0%	24.7%	23.7%	14.7%	12.0%

Cash flow

Cash coming in and going out

Free cash flow = cash from operations minus capital spending. Shareholder returns = dividends + buybacks.

Free cash flow and shareholder returns

$15.71B$13.65B$7.82B

FY18

$18.46B$16.39B$9.43B

FY19

$22.17B$20.12B$8.83B

FY20

$22.34B$19.89B$10.28B

FY21

$26.21B$23.40B$12.99B

FY22

$29.07B$25.68B$14.76B

FY23

$24.20B$20.71B$16.53B

FY24

$19.70B$16.08B$13.46B

FY25

Operating cash flow · YoY (vs a year ago)

—+18%+20%+0.8%+17%+11%-17%-19%

Free cash flow · YoY (vs a year ago)

—+20%+23%-1.2%+18%+9.7%-19%-22%

Operating cash flowFree cash flowDividends + buybacksLine = trend

US$	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash from operations	$15.71B	$18.46B	$22.17B	$22.34B	$26.21B	$29.07B	$24.20B	$19.70B
Capital spending	$-2.06B	$-2.07B	$-2.05B	$-2.45B	$-2.80B	$-3.39B	$-3.50B	$-3.62B
Free cash flow	$13.65B	$16.39B	$20.12B	$19.89B	$23.40B	$25.68B	$20.71B	$16.08B
FCF margin	6.0%	6.8%	7.8%	6.9%	7.2%	6.9%	5.2%	3.6%
Stock-based pay	$638.00M	$697.00M	$679.00M	$800.00M	$925.00M	$1.06B	$1.02B	$971.00M
Cash from investing	$-12.39B	$-12.70B	$-12.53B	$-10.37B	$-28.48B	$-15.57B	$-20.53B	$-8.69B
Cash from financing	$-4.37B	$-5.63B	$-3.59B	$-7.46B	$4.23B	$-11.53B	$-3.51B	$-11.64B
Dividends paid	$-3.32B	$-3.93B	$-4.58B	$-5.28B	$-5.99B	$-6.76B	$-7.53B	$-7.92B
Share buybacks	$-4.50B	$-5.50B	$-4.25B	$-5.00B	$-7.00B	$-8.00B	$-9.00B	$-5.55B

About

About UnitedHealth Group Incorporated

UnitedHealth Group Incorporated is an American multinational company based in Eden Prairie, Minnesota, specializing in health insurance and health care services. Selling insurance products under UnitedHealthcare, and health care services under the Optum brand, it is the world's ninth-largest company by revenue and the largest health care company by revenue. The company is ranked fourth on the 2026 Fortune Global 500.

From Wikipedia (CC BY-SA 4.0).

Company details

Company name: UnitedHealth Group Incorporated
Ticker: UNH
Exchange: NYSE
ISIN: US91324P1021
SEC CIK: 0000731766
Sector: Healthcare
Industry: Managed Health Care
SEC industry (SIC): Hospital & Medical Service Plans (6324)
Incorporated in: Delaware
Financial year ends: 31 December
Filer type: Large accelerated filer
Latest annual report (10-K): 2 Mar 2026
CEO: Stephen J. Hemsley
Chair: Stephen J. Hemsley
Headquarters: Minnetonka
Address: 1 Health Drive, Eden Prairie, Mn 55344
Founded: 1977
Employees: 390,000
Formerly known as: United Healthcare Corp
Trades in: US dollars (USD)
Website: unitedhealthgroup.com

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UnitedHealth Group Incorporated

Key numbers

Quarterly results

Revenue and net income

Income statement

Revenue, gross profit and net income

Balance sheet

Equity, debt and cash

Cash flow

Free cash flow and shareholder returns

About

Company details

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