FirmAtlas
Company handbook · UNH · Prepared by FirmAtlas · firmatlas.app · printed 2026-10-16
UNH · CIK 731766 · LATEST FILING: 10-Q JUN '26 · FILED AUG 10, 2026
UnitedHealth Group Incorporated
$401.43
−5.24 (−1.29%)
Close, Oct 16, 2026 · 52-week $256–462
Last fiscal year
UnitedHealth Group Incorporated reported revenue of $447.6B for the year ended Dec 31, 2025 (FY25), up 11.8% from FY24. Net income was $12.1B. Source: 10-K filed Mar 2, 2026.
Market cap
$363.7B
P/E
25.8
P/B
3.5
Div yield
2.26%
Op. ROE
12.2%
Revenue 1Y
11.8%/yr
EPS 1Y
−14.7%/yr
Shares 1Y
−1.0%
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Median
Daily closes, split-adjusted · ratios at each fiscal year end
Company
CEOStephen Hemsley
HQEden Prairie, MN
AuditorDeloitte & Touche LLP
Employees390,000
Year endsDecember
Compounded growth & averages
10Y
5Y
3Y
TTM
Share price
11.6%
−1.3%
−9.3%
12.5%
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Share price: yearly compound rate of the traded close; the last column is the past year.
Where the earnings went · FY24–FY25
$26.5B net income
Dividends
$23.4B
88.3%
Buybacks
$14.5B
55.0%
Retained
−$11.4B
-43.3%
Growth engines
How much of the profit growth came from new investment, and how much from running the business better.
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Financials
Last 2 years · Upgrade to see 10 years · USD millions · each year opens its 10-K · change vs previous year
Last 4 quarters · USD millions · quarter-end month shown · change vs same quarter a year earlier
TTM = the last four quarters, to Jun '26. Balance-sheet rows show that latest quarter. “—” where the quarters do not add up to the annual figures. No TTM for cash: our quarterly rows do not hold short-term investments yet, and annual cash includes them.
Income
Net premiums earned
308,810
352,229+14.1%
—
Total revenue
400,278
447,567+11.8%
450,129
YoY
+11.8%
Losses & loss adjustment expenses
264,185
313,995+18.9%
—
Pre-tax income
20,071
14,697−26.8%
—
Net income
14,405
12,056−16.3%
14,122
YoY
−16.3%
EPS (diluted, $)
15.51
13.23−14.7%
15.54
YoY
−14.7%
Balance sheet
Total assets
298,278
309,581+3.8%
309,727
Cash & short-term investments
29,113
28,121−3.4%
—
Other assets
269,165
281,460+4.6%
—
Total liabilities
200,010
209,491+4.7%
205,214
Loss & LAE reserves
34,224
39,337+14.9%
—
Other liabilities
165,786
170,154+2.6%
—
Shareholders’ equity
98,268
100,090+1.9%
104,513
Shares outstanding (M)
915
906−1.0%
—
Total liabilities = total assets − shareholders’ equity, so it includes minority interest where a company has one.
Cash flow statement · as filed
Cash from operations
24,204
19,697−18.6%
27,017
Net income
15,242
12,807−16.0%
—
Depreciation & amortization
4,099
4,361+6.4%
—
Stock-based compensation
1,018
971−4.6%
—
Working capital & other
3,845
1,558−59.5%
—
Cash from investing
(20,527)
(8,685)n/m
—
Capex
(3,499)
(3,622)n/m
—
Acquisitions
(13,408)
(4,509)n/m
—
Investments bought
(27,308)
(17,373)n/m
—
Investments sold / matured
9,319
8,446−9.4%
—
Other investing
14,369
8,373−41.7%
—
Cash from financing
(3,512)
(11,644)n/m
—
Debt raised
17,811
2,969−83.3%
—
Debt repaid
(3,000)
(3,050)n/m
—
Dividends
(9,445)
(13,920)n/m
—
Buybacks
(9,000)
(5,545)n/m
—
Shares issued
1,846
827−55.2%
—
Other financing
(1,724)
7,075n/m
—
Net change in cash
(115)
(947)n/m
—
Free cash flow (OCF − capex)
20,705
16,075−22.4%
23,617
Where the earnings went
Income
Sep '25
Dec '25
Mar '26
Jun '26
Revenue
113,161
113,215
111,721
112,032
vs year-ago quarter
Gross profit
100,595
100,535
98,898
98,657
Gross margin
88.9%
88.8%
88.5%
88.1%
Operating income
4,315
380
8,990
7,991
Net income
2,348
10
6,280
5,484
vs year-ago quarter
Net margin
2.1%
0.0%
5.6%
4.9%
EPS (diluted, $)
2.59
0.01
6.90
6.04
vs year-ago quarter
Balance sheet
Sep '25
Dec '25
Mar '26
Jun '26
Total assets
315,269
309,581
312,644
309,727
Cash & equivalents
27,210
28,121
28,001
28,585
Total debt
72,399
72,320
71,440
69,501
Shareholders’ equity
101,569
100,090
103,895
104,513
Cash flow
Sep '25
Dec '25
Mar '26
Jun '26
Operating cash flow
5,945
1,108
8,912
11,052
Capex
890
948
763
799
Free cash flow
5,055
160
8,149
10,253
vs year-ago quarter