UnitedHealth Group Incorporated (UNH) Balance Sheet: Assets & Liabilities

UnitedHealth Group Incorporated (UNH) Balance Sheet

As of Dec 31, 2025 (end of fiscal 2025), UnitedHealth Group Incorporated reported total assets of $309.58B and total liabilities of $207.88B. Shareholders' equity was $94.11B, up 1.6% from $92.66B a year earlier. Total debt stood at $78.39B against $28.12B in cash and short-term investments, a net debt position of $50.27B. That puts debt-to-equity at 0.83, compared with 0.83 a year earlier.

UnitedHealth Group Incorporated Balance Sheet Analysis

Values in billions USD

Income Statement Balance Sheet Cash Flow Ratios

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Balance sheet showing assets, liabilities, and shareholders' equity for UnitedHealth Group Incorporated (UNH) - 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
Current Assets
Cash and Cash Equivalents	24.37	25.31	25.43	23.37	21.38	16.92	10.99	10.87	11.98
Short-Term Investments	3.76	3.80	4.20	4.55	2.53	2.86	3.26	3.46	3.51
Cash & Short-Term Investments	28.12	29.11	29.63	27.91	23.91	19.78	14.25	14.32	15.49
Accounts Receivable	23.02	22.37	38.97	17.68	14.22	12.87	11.82	11.39	9.57
Inventory	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Other Current Assets	9.75	8.21	9.84	10.71	9.77	21.07	16.57	12.98	12.03
Total Current Assets	90.58	85.78	78.44	69.07	61.76	53.72	42.63	38.69	37.08
Non-Current Assets
Property, Plant & Equipment (Net)	10.76	10.55	11.45	10.13	8.97	8.63	8.70	8.46	7.01
Long-Term Investments	54.25	52.35	47.61	43.73	43.11	41.24	37.21	32.51	28.34
Goodwill	110.50	106.73	103.73	93.35	75.80	71.34	65.66	58.91	54.56
Intangible Assets	20.47	23.27	15.19	14.40	10.04	10.86	10.35	9.33	8.49
Other Non-Current Assets	23.01	19.59	17.30	15.03	12.53	102.33	94.05	81.02	1.39
Total Non-Current Assets	219.00	212.50	195.28	176.64	150.45	143.57	131.26	113.53	101.97
Total Assets	309.58	298.28	273.72	245.71	212.21	197.29	173.89	152.22	139.06
Current Liabilities
Accounts Payable	77.37	68.56	31.96	27.72	24.64	44.37	40.70	36.60	33.05
Short-Term Debt	6.07	4.55	3.19	2.31	3.62	4.82	3.87	1.97	2.86
Current Portion of Long-Term Debt	-	3.25	3.19	2.31	3.62	-	-	-	-
Deferred Revenue	3.41	3.32	3.36	3.08	2.57	2.84	2.62	2.40	2.27
Other Current Liabilities	28.05	27.35	58.43	26.28	22.98	20.39	14.60	12.24	12.29
Total Current Liabilities	114.90	103.77	99.05	89.24	78.29	72.42	61.78	53.21	50.46
Non-Current Liabilities
Long-Term Debt	72.32	72.36	58.26	54.51	42.38	38.65	36.81	34.58	28.84
Deferred Tax Liabilities	2.42	3.62	3.02	2.77	3.27	3.37	2.99	2.47	2.18
Other Non-Current Liabilities	18.25	15.94	11.94	12.84	11.79	15.68	13.14	8.20	7.74
Total Non-Current Liabilities	92.99	91.92	80.44	70.12	57.44	54.33	49.95	42.79	36.57
Total Liabilities	207.88	195.69	174.80	159.36	135.73	126.75	111.73	95.99	87.04
Stockholders' Equity
Common Stock	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01
Retained Earnings	95.60	96.04	95.77	86.16	77.13	69.30	61.18	55.85	48.73
Accumulated Other Comprehensive Income	-2.06	-3.39	-7.03	-8.39	-5.38	-3.81	-3.58	-4.16	-2.67
Additional Paid-in Capital	0.56	0.00	0.00	0.00	0.00	0.00	0.01	0.00	1.70
Minority Interest	7.59	9.93	10.16	8.58	4.72	5.05	4.55	4.53	2.19
Shares Outstanding	0.91	0.92	0.92	0.93	0.94	-	-	-	-
Total Stockholders' Equity	94.11	92.66	98.92	86.35	76.48	65.49	57.62	51.70	49.83
Total Liabilities & Equity	309.58	298.28	273.72	245.71	212.21	197.29	173.89	152.22	139.06

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

Frequently Asked Questions About UnitedHealth Group Incorporated Balance Sheet

How much debt does UnitedHealth Group Incorporated have?

UnitedHealth Group Incorporated had total debt of $78.39B as of Dec 31, 2025, against $28.12B in cash and short-term investments. Its debt-to-equity ratio was 0.83. Total debt was $76.90B a year earlier.

What are UnitedHealth Group Incorporated's total assets?

UnitedHealth Group Incorporated reported total assets of $309.58B as of Dec 31, 2025, up 3.8% from $298.28B a year earlier. Total liabilities were $207.88B.

What is UnitedHealth Group Incorporated's shareholders' equity?

UnitedHealth Group Incorporated's shareholders' equity was $94.11B as of Dec 31, 2025, or about $103.89 of book value per share.

What is the debt-to-equity ratio?

The debt-to-equity ratio divides a company's total debt by its shareholders' equity. It shows how much of the business is financed with borrowed money; normal levels vary widely by industry. Full definition