UnitedHealth Group revenue and financials
$377.36Change from previous close: +0.28%Absolute change: +$1.04
In the fiscal year ended December 2025, UnitedHealth Group reported revenue of $447.57B (+11.81% year over year). Net income was $12.06B, a net margin of 2.7%.
Fiscal year ending in December. Sources and method on the page Methodology and sources.
At a glance
- Revenue growth
- +11.81%
- 2025 vs 2024
- Net income growth
- −16.31%
- 2025 vs 2024
- Net margin
- 2.7%
- 2024: 3.6%
Financial data
Amounts in millions of USD; per-share values in USD; shares in millions.
| Item | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | 19,697 | 24,204 | 29,068 | 26,206 | 22,343 | 22,174 | 18,463 | 15,713 | 13,596 | 9,795 |
| Depreciation and amortization | 4,361 | 4,099 | 3,972 | 3,400 | 3,103 | 2,891 | 2,720 | 2,428 | 2,245 | 2,055 |
| Capital expenditure | -3,622 | -3,499 | -3,386 | -2,802 | -2,454 | -2,051 | -2,071 | -2,063 | -2,023 | -1,705 |
| Investing cash flow | -8,685 | -20,527 | -15,574 | -28,476 | -10,372 | -12,532 | -12,699 | -12,385 | -8,599 | -9,355 |
| Financing cash flow | -11,644 | -3,512 | -11,529 | 4,226 | -7,455 | -3,590 | -5,625 | -4,365 | -3,441 | -1,011 |
| Dividends paid | -7,916 | -7,533 | -6,761 | -5,991 | -5,280 | -4,584 | -3,932 | -3,320 | -2,773 | -2,261 |
| Share repurchases | -5,545 | -9,000 | -8,000 | -7,000 | -5,000 | -4,250 | -5,500 | -4,500 | -1,500 | -1,280 |
| Debt issued | 3,776 | 17,811 | 6,405 | 15,551 | 6,933 | 5,736 | 5,744 | 6,935 | 5,291 | 3,968 |
| Debt repaid | -3,050 | -3,151 | -2,125 | -3,015 | -4,452 | -3,150 | -1,750 | -2,801 | -7,906 | -2,978 |
| Effect of exchange rates | 40.0 | -61.0 | 97.0 | 34.0 | -62.0 | -116 | -20.0 | -78.0 | -5.0 | 78.0 |
| Net change in cash | -947 | -115 | 2,062 | 1,990 | 4,454 | 5,936 | 119 | -1,115 | 1,551 | -493 |
| Free cash flow | 16,075 | 20,705 | 25,682 | 23,404 | 19,889 | — | — | — | — | — |
| Levered free cash flow | 15,376 | 12,588 | 20,855 | 23,759 | 19,251 | 20,024 | 15,481 | 11,806 | 13,472 | 11,418 |