UnitedHealth Group Incorporated (UNH) Financial Statements & Analysis

UnitedHealth Group Incorporated (UNH) Income Statement

UnitedHealth Group Incorporated reported revenue of $447.57B in fiscal 2025 (fiscal year ended Dec 31, 2025), up 11.8% from $400.28B a year earlier. Net income was $12.06B, down 16.3% year over year, a net margin of 2.7%. Gross margin was 18.5% and operating margin 4.2%. In the most recent quarter, Q2 fiscal 2026 (ended Jun 30, 2026), revenue was $112.03B, up 0.4% from the same quarter a year earlier.

UnitedHealth Group Incorporated Income Statement Analysis

Values in billions USD

Income Statement Balance Sheet Cash Flow Ratios

Scale:

Scroll to see more

UnitedHealth Group Incorporated income statement - Annual data in billions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Revenue & Gross Profit
Revenue	447.57	400.28	371.62	324.16	287.60	257.14	242.16	226.25	201.16
Cost of Revenue	364.65	310.88	280.66	244.55	217.95	190.14	184.56	172.40	154.15
Gross Profit	82.92	89.40	90.96	79.62	69.65	67.00	57.60	53.85	47.01
Operating Expenses
Research & Development	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Selling, General & Administrative	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Expenses	63.95	57.11	58.60	51.18	45.68	44.60	37.91	36.50	31.80
Operating Income	18.96	32.29	32.36	28.44	23.97	22.41	19.69	17.34	15.21
Other Income/Expense
Interest Income	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Interest Expense	4.00	3.91	-3.25	-2.09	1.66	1.66	1.70	1.40	1.19
Other Income/Expense	-0.27	-8.31	-3.25	-2.09	-1.66	-1.66	-1.70	-1.40	-1.19
Income
Income Before Tax	14.70	20.07	29.11	26.34	22.31	20.74	17.98	15.94	14.02
Income Tax Expense	1.89	4.83	5.97	5.70	4.58	4.97	3.74	3.56	3.20
Net Income	12.06	14.41	22.38	20.64	17.29	15.40	13.84	11.99	10.56
Net Income - Continuous Operations	12.81	15.24	23.14	20.64	17.29	15.40	13.84	11.99	10.56
Net Income - Discontinued Operations	-	-	-	-	-	-	-	-	-
EBITDA	23.06	28.08	35.13	30.84	27.07	25.30	22.41	19.77	17.45
EBIT	18.70	23.98	32.36	28.44	23.97	-	-	-	-
Depreciation & Amortization	4.36	4.10	2.77	2.40	3.10	2.89	2.72	2.43	2.25
Earnings Per Share
Basic EPS	13.00	16.00	24.00	21.00	18.00	16.00	15.00	12.00	11.00
Diluted EPS	13.00	16.00	24.00	21.00	18.00	16.00	14.00	12.00	11.00
Basic Shares Outstanding	0.91	0.92	0.93	0.94	0.94	0.95	0.95	0.96	0.96
Diluted Shares Outstanding	0.91	0.93	0.94	0.95	0.96	0.96	0.97	0.98	0.99

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About UnitedHealth Group Incorporated Financial Statements

What was UnitedHealth Group Incorporated's revenue in fiscal 2025?

UnitedHealth Group Incorporated reported revenue of $447.57B in fiscal 2025 (fiscal year ended Dec 31, 2025). That was up 11.8% from $400.28B a year earlier.

Is UnitedHealth Group Incorporated profitable?

Yes. UnitedHealth Group Incorporated earned net income of $12.06B in fiscal 2025, a net margin of 2.7%. In fiscal 2024 it earned $14.40B.

What is UnitedHealth Group Incorporated's operating margin?

UnitedHealth Group Incorporated's operating income was $18.96B on revenue of $447.57B in fiscal 2025, an operating margin of 4.2%, compared with 8.1% a year earlier.

What is net profit margin?

Net profit margin is net income divided by revenue. It shows how much of each dollar of sales a company keeps as profit after all costs, interest and taxes. Full definition