Financials · UNH

UnitedHealth Group Incorporated (UNH) financials

For the twelve months ended Sep 30, 2026, UnitedHealth Group Incorporated reported $449.66B of revenue and $15.88B of net income.

Revenue, TTM
$449.66B
Revenue growth, YoY
+3.3%
Net income, TTM
$15.88B
Net income growth, YoY
-9.7%
Net margin
3.5%
Free cash flow, TTM
$22.83B
EPS, diluted, TTM
$17.55
Cash
$25.84B
Total debt
$74.33B
P/E
22.23
P/S
0.79
Market cap
$353.17B
Annual revenue$447.57B
FY2016FY2025
Annual net income$12.06B
FY2016FY2025
Annual free cash flow$16.07B
FY2016FY2025

UNH revenue and earnings growth

UNH revenueQ3 2026$112.69B

Quarter YoY
-0.4%
QoQ
+0.6%
FY YoY
+11.8%
5Y CAGR
+11.7%
10Y CAGR
+11.0%

UNH revenue was $112.69B in fiscal Q3 2026 (ended Sep 30, 2026), down 0.4% from a year earlier and up 0.6% from the prior quarter. For the full fiscal 2025 it was $447.57B, up 11.8% from fiscal 2024. Compound annual growth was +11.7% over 5 years and +11.0% over 10 years. It rose in each of the last 10 fiscal years. Fiscal 2025 is the highest of the 15 fiscal years on file.

UNH net incomeQ3 2026$4.11B

Quarter YoY
+75.0%
QoQ
-25.1%
FY YoY
-16.3%
5Y CAGR
-4.8%
10Y CAGR
+7.6%

UNH net income was $4.11B in fiscal Q3 2026 (ended Sep 30, 2026), up 75.0% from a year earlier and down 25.1% from the prior quarter. For the full fiscal 2025 it was $12.06B, down 16.3% from fiscal 2024. Compound annual growth was -4.8% over 5 years and +7.6% over 10 years. It rose in 8 of the last 10 fiscal years.

UNH EPSQ3 2026$4.56

Quarter YoY
+76.1%
QoQ
-24.5%
FY YoY
-14.7%
5Y CAGR
-3.8%
10Y CAGR
+8.2%

UNH diluted EPS was $4.56 in fiscal Q3 2026 (ended Sep 30, 2026), up 76.1% from a year earlier and down 24.5% from the prior quarter. For the full fiscal 2025 it was $13.23, down 14.7% from fiscal 2024. Compound annual growth was -3.8% over 5 years and +8.2% over 10 years.

UNH free cash flowQ3 2026$4.26B

Quarter YoY
-15.6%
QoQ
-58.4%
FY YoY
-22.4%
5Y CAGR
-4.4%
10Y CAGR
+7.0%

UNH free cash flow was $4.26B in fiscal Q3 2026 (ended Sep 30, 2026), down 15.6% from a year earlier and down 58.4% from the prior quarter. For the full fiscal 2025 it was $16.07B, down 22.4% from fiscal 2024. Compound annual growth was -4.4% over 5 years and +7.0% over 10 years. It rose in 6 of the last 10 fiscal years.

Export CSV

Income statement

Income statement
Line item
Dec 31, 2025
Dec 31, 2024
Dec 31, 2023
Dec 31, 2022
Dec 31, 2021
Dec 31, 2020
Dec 31, 2019
Dec 31, 2018
Dec 31, 2017
Dec 31, 2016
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
Selling, general and admin$59.59B$53.01B$54.63B$47.78B$42.58B$41.70B$35.19B$34.07B$29.56B$28.40B
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$12.06B$14.40B$22.38B$20.12B$17.29B$15.40B$13.84B$11.99B$10.56B$7.02B
EPS, basic$13.28$15.64$24.12$21.47$18.33$16.23$14.55$12.45$10.95$7.37
EPS, diluted$13.23$15.51$23.86$21.18$18.08$16.03$14.33$12.19$10.72$7.25
Diluted shares911.0M929.0M938.0M950.0M956.0M961.0M966.0M983.0M985.0M968.0M

Balance sheet

Balance sheet
Line item
Dec 31, 2025
Dec 31, 2024
Dec 31, 2023
Dec 31, 2022
Dec 31, 2021
Dec 31, 2020
Dec 31, 2019
Dec 31, 2018
Dec 31, 2017
Dec 31, 2016
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-----
Current assets$90.58B$85.78B$78.44B$69.07B$61.76B$53.72B$42.63B$38.69B$37.08B$33.88B
Goodwill$110.50B$106.73B$103.73B$93.35B$75.80B$71.34B$65.66B$58.91B$54.56B$47.58B
Total assets$309.58B$298.28B$273.72B$245.71B$212.21B$197.29B$173.89B$152.22B$139.06B$122.81B
Current liabilities$114.90B$103.77B$99.05B$89.24B$78.29B$72.42B$61.78B$53.21B$50.46B$49.25B
Short-term debt$6.07B$4.54B$4.27B$3.11B$3.62B$4.82B$3.87B$1.97B$2.86B$7.19B
Long-term debt$72.32B$72.36B$58.26B$54.51B$42.38B$38.65B$36.81B$34.58B$28.84B$25.78B
Total debt$78.39B$76.90B$62.54B$57.62B$46.00B$43.47B$40.68B$36.55B$31.69B$32.97B
Total liabilities$207.88B$195.69B$174.80B$159.36B$135.73B$126.75B$111.73B$95.99B$87.04B$82.62B
Shareholders' equity$100.09B$98.27B$94.42B$81.45B$75.05B$68.33B$60.44B$54.32B$49.83B$38.18B

Cash flow

Cash flow
Line item
Dec 31, 2025
Dec 31, 2024
Dec 31, 2023
Dec 31, 2022
Dec 31, 2021
Dec 31, 2020
Dec 31, 2019
Dec 31, 2018
Dec 31, 2017
Dec 31, 2016
Operating cash flow$19.70B$24.20B$29.07B$26.21B$22.34B$22.17B$18.46B$15.71B$13.60B$9.79B
Capital expenditures$3.62B$3.50B$3.39B$2.80B$2.45B$2.05B$2.07B$2.06B$2.02B$1.71B
Free cash flow$16.07B$20.70B$25.68B$23.40B$19.89B$20.12B$16.39B$13.65B$11.57B$8.09B
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-$5.63B-$4.37B-$3.44B-$1.01B
Dividends paid$7.92B$7.53B$6.76B$5.99B$5.28B$4.58B$3.93B$3.32B$2.77B$2.26B
Share repurchases$5.54B$9.00B$8.00B$7.00B$5.00B$4.25B$5.50B$4.50B$1.50B$1.28B
Stock-based compensation$971.00M$1.02B$1.06B$925.00M$800.00M$679.00M$697.00M$638.00M$597.00M$485.00M
Depreciation and amortization$4.36B$4.10B$3.97B$3.40B$3.10B$2.89B$2.72B$2.43B$2.25B$2.06B

Key ratios

Key ratios
Line item
Dec 31, 2025
Dec 31, 2024
Dec 31, 2023
Dec 31, 2022
Dec 31, 2021
Dec 31, 2020
Dec 31, 2019
Dec 31, 2018
Dec 31, 2017
Dec 31, 2016
Revenue growth, YoY11.8%7.7%14.6%12.7%11.8%6.2%7.0%12.5%8.8%17.7%
Net income growth, YoY-16.3%-35.6%11.2%16.4%12.2%11.3%15.5%13.5%50.5%20.7%
EPS growth, YoY-14.7%-35.0%12.7%17.1%12.8%11.9%17.6%13.7%47.9%20.6%
Operating margin4.2%8.1%8.7%8.8%8.3%8.7%8.1%7.7%7.6%7.0%
Net margin2.7%3.6%6.0%6.2%6.0%6.0%5.7%5.3%5.2%3.8%
Free cash flow margin3.6%5.2%6.9%7.2%6.9%7.8%6.8%6.0%5.8%4.4%
Return on equity12.0%14.7%23.7%24.7%23.0%22.5%22.9%22.1%21.2%18.4%
Return on assets3.9%4.8%8.2%8.2%8.1%7.8%8.0%7.9%7.6%5.7%
Current ratio0.790.830.790.770.790.740.690.730.730.69
Debt to equity0.780.780.660.710.610.640.670.670.640.86

Source: XBRL data UnitedHealth Group Incorporated files with the SEC, latest filing dated Nov 3, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.

* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.

Per-share figures are as filed. The filings show no stock split in these periods.

EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.

UNH peers

CompanyRevenueGrowthNet incomeNet marginMarket cap
UNH$449.66B+3.3%$15.88B3.5%$353.17B
ELV$201.83B+3.6%$5.13B2.5%$91.96B
CI$286.32B+6.8%$5.99B2.1%$77.58B
HUM$154.19B+22.0%$1.25B0.8%$52.08B
NTRA$2.91B+37.4%-$164.71M-5.7%$44.78B
CNC$203.90B+9.7%$1.46B0.7%$34.53B
ILMN$4.54B+5.8%$895.00M19.7%$32.22B
LH$14.59B+6.0%$1.00B6.9%$29.77B
DGX$11.84B+9.1%$1.13B9.5%$28.12B

UNH FAQ

8 questions
  • What is UNH revenue?
    UnitedHealth Group Incorporated (UNH) reported $449.66B of revenue for the twelve months ended Sep 30, 2026. That is up 3.3% from the year before. Revenue for fiscal 2025 was $447.57B.
  • Is UNH profitable?
    Yes. UnitedHealth Group Incorporated earned $15.88B in net income for the twelve months ended Sep 30, 2026, a net margin of 3.5%.
  • How much cash and debt does UNH have?
    UnitedHealth Group Incorporated reported $25.84B in cash and cash equivalents and $74.33B of debt on its most recent balance sheet in SEC filings.
  • How fast is UNH revenue growing?
    UnitedHealth Group Incorporated's revenue changed +11.8% in fiscal 2025, to $447.57B. Its compound annual growth rate was +11.7% over 5 years and +11.0% over 10 years.
  • What is UNH free cash flow?
    UnitedHealth Group Incorporated generated $22.83B of free cash flow for the twelve months ended Sep 30, 2026, which is operating cash flow of $26.20B less capital expenditures.
  • What is UNH earnings per share?
    Diluted earnings per share were $17.55 for the twelve months ended Sep 30, 2026, from SEC filings, restated for any stock split those filings show.
  • When did UNH last report financial results?
    The latest statements here come from UnitedHealth Group Incorporated's 10-Q filed on Nov 3, 2026, covering the period ended Sep 30, 2026.
  • Where does this UNH financial data come from?
    Quantisnow builds these statements from the structured XBRL data UnitedHealth Group Incorporated files with the SEC. It is provided for information only and is not investment advice.