UnitedHealth Group revenue and financials
$376.32Change from previous close: −0.60%Absolute change: −$2.26
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 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | 11,052 | 8,912 | 1,108 | 5,945 | 7,188 | 5,456 | 2,369 | 13,945 | 6,746 | 1,144 | -5,193 | 6,902 |
| Depreciation and amortization | 1,040 | 1,029 | -583 | 1,099 | 1,084 | 1,061 | -359 | 1,041 | 1,020 | 997 | -226 | 1,007 |
| Capital expenditure | -799 | -763 | -948 | -890 | -886 | -898 | -912 | -991 | -853 | -743 | — | — |
| Investing cash flow | -1,798 | -2,447 | -2,611 | -4,558 | -1,442 | -74.0 | -1,119 | -5,651 | -7,417 | -6,340 | -1,187 | -2,639 |
| Financing cash flow | -8,623 | -2,992 | -1,031 | -2,765 | -7,947 | 99.0 | -8,342 | -2,205 | -1,196 | 8,231 | -7,156 | -7,104 |
| Dividends paid | -2,087 | -2,005 | -2,002 | -2,002 | -2,000 | -1,912 | -1,932 | -1,937 | -1,935 | -1,729 | -1,738 | -1,739 |
| Share repurchases | -1,646 | 0.0 | 0.0 | 0.0 | -2,545 | -3,000 | -4,972 | -956 | 0.0 | -3,072 | — | — |
| Debt issued | -1,100 | 1,100 | -662 | 1,469 | -942 | 3,911 | 0.0 | 3,271 | 2,426 | 12,114 | -1,568 | -1,847 |
| Debt repaid | -3,313 | -1,500 | -1,050 | -597 | -1,403 | — | -460 | -941 | -1,000 | -750 | — | — |
| Effect of exchange rates | 4.0 | -7.0 | 15.0 | -4.0 | 14.0 | 15.0 | -31.0 | 14.0 | 4.0 | -48.0 | 48.0 | -57.0 |
| Net change in cash | 584 | 3,636 | -2,845 | -1,386 | -2,121 | 5,405 | -7,088 | 6,114 | -2,128 | 2,987 | -13,488 | -2,898 |
| Free cash flow | 10,253 | 8,149 | 160 | 5,055 | 6,302 | 4,558 | 1,457 | 12,954 | 5,893 | 401 | -6,152 | 6,064 |
| Levered free cash flow | 9,831 | 8,598 | 3,113 | 2,231 | 4,838 | 4,774 | 5,506 | 11,658 | -2,301 | -2,735 | -9,480 | 2,265 |