What is UnitedHealth Group Incorporated's earnings per share (EPS)?

UnitedHealth Group Incorporated (UNH) reported diluted earnings per share of $13.23 for fiscal year 2025. This represents a -14.7% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

UnitedHealth Group Incorporated (UNH) Financials

UNH

Trailing 12 months to June 30, 2026

Revenue $450.1B +6.5% YoY

Net Income $14.1B -33.7% YoY

EPS (Diluted) $15.55 -32.6% YoY

Free Cash Flow $23.6B -6.5% YoY

Market Cap $356.5B as of Sep 5, 2026

Price / Sales 0.8x on $450.1B revenue, trailing 12 months to June 30, 2026

Price / Earnings 25.2x on $14.1B net income, trailing 12 months to June 30, 2026

Price / Book 3.4x on $104.5B equity, Q2 FY2026

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Sep 5, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Aug 10, 2026 Currency USD FYE December

Newest figures come from the 10-Q for Q2 FY2026, filed Aug 10, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the UNH SEC filings page.

UnitedHealth Group Incorporated (UNH) reported $450.1B in revenue over the twelve months to Jun 30, 2026, up 6.5% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI UNH FY2025 2026-08-29

Scale without operating leverage defines FY2025: revenue expanded, but margin compression reduced earnings generated per dollar of sales and lowered free cash flow.

Across FY2023-FY2025, revenue expanded while operating margin nearly halved, from 8.7% to 4.2%, indicating added scale did not reach earnings. Net income and operating cash flow both weakened in FY2025, but operating cash flow remained above accounting profit at $19.7B versus $12.1B; the gap shows that reported earnings and cash economics diverged materially.

Debt-to-equity rose from 0.6x to 0.7x between FY2023 and FY2025, while current liabilities exceeded current assets; that combination points to greater reliance on long-term financing alongside limited short-term liquidity. Goodwill was more than one-third of total assets, making the asset base structurally acquisition-heavy.

Operating cash flow exceeded free cash flow by $3.6B, exactly matching capital expenditures, so the conversion gap reflects reinvestment rather than a profit-to-cash breakdown. Yet shareholder distributions remained $13.5B in FY2025, close to free cash flow of $16.1B; capital allocation absorbed most internally generated cash.

Financial Health Signals

Financial Health Score 48/100

Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of UnitedHealth Group Incorporated's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability

UnitedHealth Group Incorporated has an operating margin of 4.2%, meaning the company retains $4 of operating profit per $100 of revenue. This results in a moderate score of 60/100, indicating healthy but not exceptional operating efficiency. This is down from 8.1% the prior year.

Growth

UnitedHealth Group Incorporated's revenue grew 11.8% year-over-year to $447.6B, a solid pace of expansion. This earns a growth score of 64/100.

Leverage

UnitedHealth Group Incorporated has a moderate D/E ratio of 0.72. This balance of debt and equity financing earns a leverage score of 31/100.

Liquidity

UnitedHealth Group Incorporated's current ratio of 0.79 is below the typical benchmark, resulting in a score of 11/100. This tight liquidity could limit financial flexibility if cash inflows slow.

Cash Flow

UnitedHealth Group Incorporated has a free cash flow margin of 3.6%, earning a moderate score of 44/100. The company generates positive cash flow after capital investments, but with room for improvement.

Returns

UnitedHealth Group Incorporated earns a strong 12.0% return on equity (ROE), meaning it generates $12 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 78/100. This is down from 14.7% the prior year.

Altman Z-Score Safe

3.01

UnitedHealth Group Incorporated scores 3.01, well above the 2.99 safe threshold. This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.

Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.

Piotroski F-Score Partial

6/8

UnitedHealth Group Incorporated passes 6 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 3 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Cash-Backed

1.63x

For every $1 of reported earnings, UnitedHealth Group Incorporated generates $1.63 in operating cash flow ($19.7B OCF vs $12.1B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Interest Coverage Adequate

4.74x

UnitedHealth Group Incorporated earns $4.74 in operating income for every $1 of interest expense ($19.0B vs $4.0B). This adequate coverage means the company can meet its interest obligations, but has limited cushion if earnings fall.

Key Financial Metrics

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Earnings & Revenue

Revenue

$112.0B

YoY+0.4%

QoQ+0.3%

5Y CAGR+9.5%

10Y CAGR+9.2%

UnitedHealth Group Incorporated generated $112.0B in revenue in Q2 2026. This represents an increase of 0.4% from the same quarter a year earlier. Against the prior quarter it is up 0.3%.

EBITDA

$9.0B

YoY+44.9%

QoQ-9.9%

5Y CAGR+6.0%

10Y CAGR+9.3%

UnitedHealth Group Incorporated's EBITDA was $9.0B in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 44.9% from the same quarter a year earlier. Against the prior quarter it is down 9.9%.

Net Income

$5.5B

YoY+61.0%

QoQ-12.7%

5Y CAGR+5.2%

10Y CAGR+12.1%

UnitedHealth Group Incorporated reported $5.5B in net income in Q2 2026. This represents an increase of 61.0% from the same quarter a year earlier. Against the prior quarter it is down 12.7%.

EPS (Diluted)

$6.04

YoY+61.5%

QoQ-12.5%

5Y CAGR+6.3%

10Y CAGR+12.8%

UnitedHealth Group Incorporated earned $6.04 per diluted share (EPS) in Q2 2026. This represents an increase of 61.5% from the same quarter a year earlier. Against the prior quarter it is down 12.5%.

Cash & Balance Sheet

Free Cash Flow

$10.3B

YoY+62.7%

QoQ+25.8%

5Y CAGR+15.5%

10Y CAGR+23.0%

UnitedHealth Group Incorporated generated $10.3B in free cash flow in Q2 2026, representing cash available after capex. This represents an increase of 62.7% from the same quarter a year earlier. Against the prior quarter it is up 25.8%.

Cash & Debt

$28.6B

YoY0.0%

QoQ+2.1%

5Y CAGR+7.6%

10Y CAGR+13.3%

UnitedHealth Group Incorporated held $28.6B in cash against $69.5B in long-term debt as of Q2 2026.

Dividends Per Share

$2.32

YoY+5.0%

QoQ+5.0%

5Y CAGR+9.9%

10Y CAGR+14.0%

UnitedHealth Group Incorporated paid $2.32 per share in dividends in Q2 2026. This represents an increase of 5.0% from the same quarter a year earlier. Against the prior quarter it is up 5.0%.

Shares Outstanding

898M

YoY-0.9%

QoQ-1.2%

5Y CAGR-1.0%

10Y CAGR-0.6%

UnitedHealth Group Incorporated had 898M shares outstanding in Q2 2026. This represents a decrease of 0.9% from the same quarter a year earlier. Against the prior quarter it is down 1.2%.

Margins & Returns

Operating Margin

7.1%

YoY+2.5pp

QoQ-0.9pp

5Y CAGR-1.2pp

10Y CAGR+0.2pp

UnitedHealth Group Incorporated's operating margin was 7.1% in Q2 2026, reflecting core business profitability. This is up 2.5 percentage points from the same quarter a year earlier. Against the prior quarter it is down 0.9 percentage points.

Net Margin

4.9%

YoY+1.9pp

QoQ-0.7pp

5Y CAGR-1.1pp

10Y CAGR+1.1pp

UnitedHealth Group Incorporated's net profit margin was 4.9% in Q2 2026, showing the share of revenue converted to profit. This is up 1.9 percentage points from the same quarter a year earlier. Against the prior quarter it is down 0.7 percentage points.

Return on Equity

5.3%

YoY+1.9pp

QoQ-0.8pp

5Y CAGR-0.7pp

10Y CAGR+0.4pp

UnitedHealth Group Incorporated's ROE was 5.3% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is up 1.9 percentage points from the same quarter a year earlier. Against the prior quarter it is down 0.8 percentage points.

Gross Margin

Not reported for Q2 2026.

Capital Allocation

Share Buybacks

$1.6B

YoY-35.3%

5Y CAGR+5.7%

10Y CAGR+13.1%

UnitedHealth Group Incorporated spent $1.6B on share buybacks in Q2 2026, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 35.3% from the same quarter a year earlier.

Capital Expenditures

$799.0M

YoY-9.8%

QoQ+4.7%

5Y CAGR+7.3%

10Y CAGR+7.5%

UnitedHealth Group Incorporated invested $799.0M in capex in Q2 2026, funding long-term assets and infrastructure. This represents a decrease of 9.8% from the same quarter a year earlier. Against the prior quarter it is up 4.7%.

R&D Spending

Not reported for Q2 2026.

UNH Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

UNH quarterly income statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Revenue	$450.1B	$447.6B+11.8%	$400.3B+7.7%	$371.6B+14.6%	$324.2B+12.7%	$287.6B+11.8%	$257.1B+6.2%	$242.2B+7.0%	$226.2B+12.5%	$201.2B+8.8%	$184.8B+17.7%	$157.1B+20.4%	$130.5B+6.5%	$122.5B+10.7%	$110.6B+8.6%	$101.9B
Cost of Revenue	$51.4B	$50.7B+8.5%	$46.7B+20.4%	$38.8B+15.0%	$33.7B+8.6%	$31.0B+0.9%	$30.7B+9.3%	$28.1B+4.1%	$27.0B+12.0%	$24.1B-1.2%	$24.4B+50.7%	$16.2B+323.6%	$3.8B+32.3%	$2.9B+14.6%	$2.5B+5.8%	$2.4B
SG&A Expenses	$61.9B	$59.6B+12.4%	$53.0B-3.0%	$54.6B+14.3%	$47.8B+12.2%	$42.6B+2.1%	$41.7B+18.5%	$35.2B+3.3%	$34.1B+15.3%	$29.6B+4.1%	$28.4B+16.8%	$24.3B+14.3%	$21.3B+12.3%	$18.9B+9.4%	$17.3B+11.2%	$15.6B
Operating Income	$21.7B	$19.0B-41.3%	$32.3B-0.2%	$32.4B+13.8%	$28.4B+18.6%	$24.0B+7.0%	$22.4B+13.8%	$19.7B+13.5%	$17.3B+14.0%	$15.2B+17.6%	$12.9B+17.3%	$11.0B+7.3%	$10.3B+6.8%	$9.6B+4.0%	$9.3B+9.3%	$8.5B
EBITDA	N/A	$23.3B-35.9%	$36.4B+0.2%	$36.3B+14.1%	$31.8B+17.6%	$27.1B+7.0%	$25.3B+12.9%	$22.4B+13.3%	$19.8B+13.3%	$17.5B+16.5%	$15.0B+17.9%	$12.7B+8.2%	$11.8B+6.9%	$11.0B+4.1%	$10.6B+10.2%	$9.6B
Interest Expense	$3.9B	$4.0B+2.5%	$3.9B+20.3%	$3.2B+55.2%	$2.1B+26.0%	$1.7B-0.2%	$1.7B-2.4%	$1.7B+21.7%	$1.4B+18.0%	$1.2B+11.2%	$1.1B+35.1%	$790.0M+27.8%	$618.0M-12.7%	$708.0M+12.0%	$632.0M+25.1%	$505.0M
Income Tax	$2.5B	$1.9B-60.9%	$4.8B-19.1%	$6.0B+4.6%	$5.7B+24.6%	$4.6B-7.9%	$5.0B+32.9%	$3.7B+5.1%	$3.6B+11.3%	$3.2B-33.2%	$4.8B+9.8%	$4.4B+8.1%	$4.0B+24.5%	$3.2B+4.7%	$3.1B+9.9%	$2.8B
Net Income	$14.1B	$12.1B-16.3%	$14.4B-35.6%	$22.4B+11.2%	$20.1B+16.4%	$17.3B+12.2%	$15.4B+11.3%	$13.8B+15.5%	$12.0B+13.5%	$10.6B+50.5%	$7.0B+20.7%	$5.8B+3.5%	$5.6B-0.1%	$5.6B+1.8%	$5.5B+7.5%	$5.1B
EPS (Basic)	N/A	$13.28-15.1%	$15.64-35.2%	$24.12+12.3%	$21.47+17.1%	$18.33+12.9%	$16.23+11.5%	$14.55+16.9%	$12.45+13.7%	$10.95+48.6%	$7.37+20.8%	$6.10+5.5%	$5.78+3.4%	$5.59+3.9%	$5.38+11.9%	$4.81
EPS (Diluted)	$15.55	$13.23-14.7%	$15.51-35.0%	$23.86+12.7%	$21.18+17.1%	$18.08+12.8%	$16.03+11.9%	$14.33+17.6%	$12.19+13.7%	$10.72+47.9%	$7.25+20.6%	$6.01+5.4%	$5.70+3.6%	$5.50+4.2%	$5.28+11.6%	$4.73
Diluted Shares (Avg)	N/A	911M-1.9%	929M-1.0%	938M-1.3%	950M-0.6%	956M-0.5%	961M-0.5%	966M-1.7%	983M-0.2%	985M+1.8%	968M+0.1%	967M-1.9%	986M-3.6%	1.02B-2.2%	1.05B-3.8%	1.09B

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Revenue	$112.0B+0.4%	$111.7B+2.0%	$113.2B+12.3%	$113.2B+12.2%	$111.6B+12.9%	$109.6B+9.8%	$100.8B+6.8%	$100.8B+9.2%
Cost of Revenue	$13.4B+2.7%	$12.8B+3.5%	$12.7B+1.7%	$12.6B+6.2%	$13.0B+14.8%	$12.4B+12.1%	$12.5B+22.3%	$11.8B+25.6%
SG&A Expenses	$14.3B+3.6%	$15.4B+13.2%	$17.0B+36.0%	$15.2B+14.6%	$13.8B+4.7%	$13.6B-3.4%	$12.5B-6.3%	$13.3B-4.2%
Operating Income	$8.0B+55.2%	$9.0B-1.4%	$380.0M-95.1%	$4.3B-50.4%	$5.2B-34.6%	$9.1B+15.0%	$7.8B+1.1%	$8.7B+2.1%
EBITDA	$9.0B+44.9%	$10.0B-1.6%	$1.5B-83.0%	$5.4B-44.5%	$6.2B-29.9%	$10.2B+14.0%	$8.8B+1.7%	$9.7B+2.3%
Interest Expense	$962.0M-6.3%	$955.0M-4.3%	$974.0M-2.9%	$1.0B-6.6%	$1.0B+4.3%	$998.0M+18.2%	$1.0B+20.8%	$1.1B+28.8%
Income Tax	$1.3B+154.5%	$1.5B-9.2%	-$938.0M-193.1%	$686.0M-49.4%	$510.0M-59.0%	$1.6B+33.6%	$1.0B-14.9%	$1.4B-18.0%
Net Income	$5.5B+61.0%	$6.3B-0.2%	$10.0M-99.8%	$2.3B-61.2%	$3.4B-19.2%	$6.3B+546.6%	$5.5B+1.6%	$6.1B+3.7%
EPS (Basic)	$6.06+61.2%	$6.92+0.3%	$0.01-99.8%	$2.59-60.5%	$3.76-17.9%	$6.90+551.0%	$6.03+1.9%	$6.56+4.0%
EPS (Diluted)	$6.04+61.5%	$6.90+0.7%	$0.02	$2.59-60.2%	$3.74-17.6%	$6.85+547.7%	$5.98+2.2%	$6.51+4.3%
Diluted Shares (Avg)	906M-0.4%	910M-0.9%	N/A	908M-2.4%	910M-1.9%	918M-0.4%	N/A	930M-0.6%

Not reported in any period shown, so not listed: Gross Profit, R&D Expenses.

UNH Balance Sheet

UNH quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Total Assets	$309.6B+3.8%	$298.3B+9.0%	$273.7B+11.4%	$245.7B+15.8%	$212.2B+7.6%	$197.3B+13.5%	$173.9B+14.2%	$152.2B+9.5%	$139.1B+13.2%	$122.8B+10.4%	$111.3B+28.9%	$86.3B+5.4%	$81.9B+1.2%	$80.9B+19.1%	$67.9B
Current Assets	$90.6B+5.6%	$85.8B+9.4%	$78.4B+13.6%	$69.1B+11.8%	$61.8B+15.0%	$53.7B+26.0%	$42.6B+10.2%	$38.7B+4.3%	$37.1B+9.5%	$33.9B+7.1%	$31.6B+34.3%	$23.6B+15.6%	$20.4B-3.2%	$21.1B+3.4%	$20.4B
Cash & Equivalents	$24.4B-3.7%	$25.3B-0.5%	$25.4B+8.8%	$23.4B+9.3%	$21.4B+26.3%	$16.9B+54.0%	$11.0B+1.1%	$10.9B-9.3%	$12.0B+14.9%	$10.4B-4.5%	$10.9B+45.7%	$7.5B+3.0%	$7.3B-13.4%	$8.4B-10.8%	$9.4B
Short-Term Investments	$3.8B-1.2%	$3.8B-9.5%	$4.2B-7.6%	$4.5B+79.5%	$2.5B-11.5%	$2.9B-12.3%	$3.3B-5.7%	$3.5B-1.5%	$3.5B+23.3%	$2.8B+43.1%	$2.0B+14.2%	$1.7B-10.1%	$1.9B-36.1%	$3.0B+17.6%	$2.6B
Inventory	$3.3B-13.2%	$3.8B+35.7%	$2.8B-20.0%	$3.5B+20.7%	$2.9B	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$23.0B+2.9%	$22.4B+5.1%	$21.3B+20.3%	$17.7B+24.4%	$14.2B+10.5%	$12.9B+8.9%	$11.8B+3.8%	$11.4B+19.0%	$9.6B+17.4%	$8.2B+25.0%	$6.5B+53.4%	$4.3B+39.3%	$3.1B+12.7%	$2.7B+18.1%	$2.3B
Long-Term Investments	$54.3B+3.6%	$52.4B+10.0%	$47.6B+8.9%	$43.7B+1.4%	$43.1B+4.5%	$41.2B+10.8%	$37.2B+14.5%	$32.5B+14.7%	$28.3B+18.7%	$23.9B+27.0%	$18.8B-0.2%	$18.8B-4.0%	$19.6B+10.7%	$17.7B+9.6%	$16.2B
Goodwill	$110.5B+3.5%	$106.7B+2.9%	$103.7B+11.1%	$93.4B+23.2%	$75.8B+6.2%	$71.3B+8.6%	$65.7B+11.5%	$58.9B+8.0%	$54.6B+14.7%	$47.6B+7.0%	$44.5B+35.0%	$32.9B+4.2%	$31.6B+1.0%	$31.3B+30.5%	$24.0B
Total Liabilities	$207.9B+6.2%	$195.7B+11.9%	$174.8B+9.7%	$159.4B+17.4%	$135.7B+7.1%	$126.8B+13.4%	$111.7B+16.4%	$96.0B+10.3%	$87.0B+5.3%	$82.6B+9.0%	$75.8B+44.3%	$52.5B+8.2%	$48.6B+2.0%	$47.6B+20.2%	$39.6B
Current Liabilities	$114.9B+10.7%	$103.8B+4.8%	$99.1B+11.0%	$89.2B+14.0%	$78.3B+8.1%	$72.4B+17.2%	$61.8B+16.1%	$53.2B+5.4%	$50.5B+2.5%	$49.3B+14.8%	$42.9B+40.1%	$30.6B+9.8%	$27.9B+2.8%	$27.1B+13.4%	$23.9B
Non-Current Liabilities	$93.0B+1.2%	$91.9B+21.3%	$75.7B+8.0%	$70.1B+22.1%	$57.4B+5.7%	$54.3B+8.8%	$49.9B+16.7%	$42.8B+17.0%	$36.6B+9.6%	$33.4B+1.4%	$32.9B+50.1%	$21.9B+6.0%	$20.7B+1.0%	$20.5B+30.6%	$15.7B
Long-Term Debt	$72.3B-0.1%	$72.4B+24.2%	$58.3B+6.9%	$54.5B+28.6%	$42.4B+9.7%	$38.6B+5.0%	$36.8B+6.4%	$34.6B+19.9%	$28.8B+11.9%	$25.8B+1.8%	$25.3B+58.2%	$16.0B+7.5%	$14.9B+6.1%	$14.0B+31.8%	$10.7B
Total Equity	$100.1B+1.9%	$98.3B+4.1%	$94.4B+15.9%	$81.5B+8.5%	$75.0B+9.8%	$68.3B+13.1%	$60.4B+11.3%	$54.3B+9.0%	$49.8B+30.5%	$38.2B+13.2%	$33.7B+3.9%	$32.5B+0.9%	$32.1B+3.1%	$31.2B+10.2%	$28.3B
Retained Earnings	$95.6B-0.5%	$96.0B+0.3%	$95.8B+11.2%	$86.2B+11.7%	$77.1B+11.3%	$69.3B+13.3%	$61.2B+9.5%	$55.8B+14.6%	$48.7B+19.0%	$40.9B+10.3%	$37.1B+9.7%	$33.8B+2.4%	$33.0B+7.8%	$30.7B+10.2%	$27.8B

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Total Assets	$309.7B+0.4%	$312.6B+0.9%	$309.6B+3.8%	$315.3B+5.3%	$308.6B+7.9%	$309.8B+9.0%	$298.3B+9.0%	$299.3B+6.1%
Current Assets	$86.9B-7.3%	$91.1B-5.4%	$90.6B+5.6%	$95.1B+3.0%	$93.7B+1.8%	$96.3B+8.3%	$85.8B+9.4%	$92.3B+0.4%
Cash & Equivalents	$28.6B0.0%	$28.0B-8.8%	$24.4B-3.7%	$27.2B-16.0%	$28.6B+8.8%	$30.7B+8.1%	$25.3B-0.5%	$32.4B-16.7%
Short-Term Investments	$2.9B-15.8%	$3.2B-9.7%	$3.8B-1.2%	$3.4B-28.1%	$3.4B-32.0%	$3.6B-16.8%	$3.8B-9.5%	$4.7B-8.6%
Inventory	N/A	N/A	$3.3B-13.2%	N/A	N/A	N/A	$3.8B+35.7%	N/A
Accounts Receivable	$21.6B-10.6%	$26.6B-1.3%	$23.0B+2.9%	$22.7B+13.2%	$24.1B+4.4%	$26.9B-1.0%	$22.4B+5.1%	$20.0B-3.1%
Long-Term Investments	$57.7B+10.0%	$56.8B+9.5%	$54.3B+3.6%	$53.0B+8.8%	$52.5B+13.8%	$51.9B+12.9%	$52.4B+10.0%	$48.7B+7.1%
Goodwill	$110.6B+2.8%	$110.5B+2.7%	$110.5B+3.5%	$110.3B+4.1%	$107.7B+2.1%	$107.6B+1.8%	$106.7B+2.9%	$106.0B+4.2%
Total Liabilities	$203.8B0.0%	$207.3B+1.3%	$207.9B+6.2%	$209.5B+7.5%	$203.8B+9.1%	$204.6B+9.3%	$195.7B+11.9%	$194.9B+3.6%
Current Liabilities	$111.8B+0.9%	$114.1B+0.6%	$114.9B+10.7%	$115.5B+13.7%	$110.8B+5.8%	$113.5B+8.7%	$103.8B+4.8%	$101.6B-11.0%
Non-Current Liabilities	$92.0B-1.1%	$93.2B+2.3%	$93.0B+1.2%	$93.9B+0.7%	$93.0B+13.2%	$91.2B+10.0%	$91.9B+21.3%	$93.3B+26.2%
Long-Term Debt	$69.5B-5.4%	$71.4B+0.2%	$72.3B-0.1%	$72.4B-2.3%	$73.5B+15.3%	$71.3B+11.6%	$72.4B+24.2%	$74.1B+27.6%
Total Equity	$104.5B+4.0%	$103.9B+3.1%	$100.1B+1.9%	$101.6B+1.7%	$100.5B+6.1%	$100.8B+9.1%	$98.3B+4.1%	$99.9B+11.5%
Retained Earnings	$101.0B+3.8%	$99.9B+2.0%	$95.6B-0.5%	$97.6B+1.1%	$97.3B+5.2%	$97.9B+8.7%	$96.0B+0.3%	$96.5B+3.6%

UNH Cash Flow Statement

UNH quarterly cash flow statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Operating Cash Flow	$27.0B	$19.7B-18.6%	$24.2B-16.7%	$29.1B+10.9%	$26.2B+17.3%	$22.3B+0.8%	$22.2B+20.1%	$18.5B+17.5%	$15.7B+15.6%	$13.6B+38.8%	$9.8B+0.6%	$9.7B+21.0%	$8.1B+15.2%	$7.0B-2.3%	$7.2B+2.7%	$7.0B
Depreciation & Amortization	N/A	$4.4B+6.4%	$4.1B+3.2%	$4.0B+16.8%	$3.4B+9.6%	$3.1B+7.3%	$2.9B+6.3%	$2.7B+12.0%	$2.4B+8.2%	$2.2B+9.2%	$2.1B+21.4%	$1.7B+14.5%	$1.5B+7.5%	$1.4B+5.0%	$1.3B+16.5%	$1.1B
Stock-Based Compensation	N/A	$971.0M-4.6%	$1.0B-3.9%	$1.1B+14.5%	$925.0M+15.6%	$800.0M+17.8%	$679.0M-2.6%	$697.0M+9.2%	$638.0M+6.9%	$597.0M+23.1%	$485.0M+19.5%	$406.0M+11.5%	$364.0M+10.0%	$331.0M-21.4%	$421.0M+5.0%	$401.0M
Capital Expenditures	$3.4B	$3.6B+3.5%	$3.5B+3.3%	$3.4B+20.8%	$2.8B+14.2%	$2.5B+19.6%	$2.1B-1.0%	$2.1B+0.4%	$2.1B+2.0%	$2.0B+18.7%	$1.7B+9.6%	$1.6B+2.0%	$1.5B+16.7%	$1.3B+22.1%	$1.1B+0.3%	$1.1B
Free Cash Flow	$23.6B	$16.1B-22.4%	$20.7B-19.4%	$25.7B+9.7%	$23.4B+17.7%	$19.9B-1.2%	$20.1B+22.8%	$16.4B+20.1%	$13.7B+17.9%	$11.6B+43.1%	$8.1B-1.1%	$8.2B+25.4%	$6.5B+14.8%	$5.7B-6.6%	$6.1B+3.1%	$5.9B
Investing Cash Flow	-$11.4B	-$8.7B+57.7%	-$20.5B-31.8%	-$15.6B+45.3%	-$28.5B-174.5%	-$10.4B+17.2%	-$12.5B+1.3%	-$12.7B-2.5%	-$12.4B-44.0%	-$8.6B+8.1%	-$9.4B+49.1%	-$18.4B-625.9%	-$2.5B+18.0%	-$3.1B+64.3%	-$8.6B-107.3%	-$4.2B
Financing Cash Flow	-$15.4B	-$11.6B-231.5%	-$3.5B+69.5%	-$11.5B-372.8%	$4.2B+156.7%	-$7.5B-107.7%	-$3.6B+36.2%	-$5.6B-28.9%	-$4.4B-26.9%	-$3.4B-240.4%	-$1.0B-108.3%	$12.2B+331.2%	-$5.3B-7.0%	-$4.9B-1150.1%	$471.0M+118.9%	-$2.5B
Dividends Paid	$8.1B	$7.9B+5.1%	$7.5B+11.4%	$6.8B+12.9%	$6.0B+13.5%	$5.3B+15.2%	$4.6B+16.6%	$3.9B+18.4%	$3.3B+19.7%	$2.8B+22.6%	$2.3B+26.6%	$1.8B+31.1%	$1.4B+29.0%	$1.1B+28.8%	$820.0M+26.0%	$651.0M
Share Buybacks	$1.6B	$5.5B-38.4%	$9.0B+12.5%	$8.0B+14.3%	$7.0B+40.0%	$5.0B+17.6%	$4.3B-22.7%	$5.5B+22.2%	$4.5B+200.0%	$1.5B+17.2%	$1.3B+6.7%	$1.2B-70.1%	$4.0B+26.4%	$3.2B+2.8%	$3.1B+3.0%	$3.0B

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Operating Cash Flow	$11.1B+53.8%	$8.9B+63.3%	$1.1B-53.2%	$5.9B-57.4%	$7.2B+6.6%	$5.5B+376.9%	$2.4B+145.6%	$13.9B+102.0%
Depreciation & Amortization	$1.0B-4.1%	$1.0B-3.0%	$1.1B+7.3%	$1.1B+5.6%	$1.1B+6.3%	$1.1B+6.4%	$1.0B+6.9%	$1.0B+3.4%
Stock-Based Compensation	N/A	$348.0M-7.2%	N/A	N/A	N/A	$375.0M+0.8%	N/A	N/A
Capital Expenditures	$799.0M-9.8%	$763.0M-15.0%	$948.0M+3.9%	$890.0M-10.2%	$886.0M+3.9%	$898.0M+20.9%	$912.0M-4.9%	$991.0M+18.3%
Free Cash Flow	$10.3B+62.7%	$8.1B+78.8%	$160.0M-89.0%	$5.1B-61.0%	$6.3B+6.9%	$4.6B+1036.7%	$1.5B+123.7%	$13.0B+113.6%
Investing Cash Flow	-$1.8B-24.7%	-$2.4B-3206.8%	-$2.6B-133.3%	-$4.6B+19.3%	-$1.4B+80.6%	-$74.0M+98.8%	-$1.1B+5.7%	-$5.7B-114.1%
Financing Cash Flow	-$8.6B-8.5%	-$3.0B-3122.2%	-$1.0B+87.6%	-$2.8B-25.4%	-$7.9B-564.5%	$99.0M-98.8%	-$8.3B-16.6%	-$2.2B+69.0%
Dividends Paid	$2.1B+4.3%	$2.0B+4.9%	$2.0B+3.6%	$2.0B+3.4%	$2.0B+3.4%	$1.9B+10.6%	$1.9B+11.2%	$1.9B+11.4%
Share Buybacks	$1.6B-35.3%	$0-100.0%	$0-100.0%	$0-100.0%	$2.5B	$3.0B-2.3%	$5.0B+231.5%	$956.0M-36.3%

UNH Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

UNH quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Operating Margin	4.2%-3.8pp	8.1%-0.6pp	8.7%-0.1pp	8.8%+0.4pp	8.3%-0.4pp	8.7%+0.6pp	8.1%+0.5pp	7.7%+0.1pp	7.6%+0.6pp	7.0%0.0pp	7.0%-0.9pp	7.9%0.0pp	7.9%-0.5pp	8.4%+0.1pp	8.3%
Net Margin	2.7%-0.9pp	3.6%-2.4pp	6.0%-0.2pp	6.2%+0.2pp	6.0%0.0pp	6.0%+0.3pp	5.7%+0.4pp	5.3%+0.1pp	5.3%+1.4pp	3.8%+0.1pp	3.7%-0.6pp	4.3%-0.3pp	4.6%-0.4pp	5.0%-0.1pp	5.1%
Return on Equity	12.0%-2.6pp	14.7%-9.0pp	23.7%-1.0pp	24.7%+1.7pp	23.0%+0.5pp	22.5%-0.4pp	22.9%+0.8pp	22.1%+0.9pp	21.2%+2.8pp	18.4%+1.1pp	17.2%-0.1pp	17.3%-0.2pp	17.5%-0.2pp	17.7%-0.5pp	18.2%
Return on Assets	3.9%-0.9pp	4.8%-3.3pp	8.2%0.0pp	8.2%0.0pp	8.2%+0.3pp	7.8%-0.2pp	8.0%+0.1pp	7.9%+0.3pp	7.6%+1.9pp	5.7%+0.5pp	5.2%-1.3pp	6.5%-0.4pp	6.9%0.0pp	6.8%-0.7pp	7.6%
Current Ratio	0.790.0x	0.830.0x	0.790.0x	0.770.0x	0.790.0x	0.74+0.1x	0.690.0x	0.730.0x	0.730.0x	0.690.0x	0.740.0x	0.770.0x	0.730.0x	0.78-0.1x	0.85
Debt-to-Equity	0.720.0x	0.74+0.1x	0.62-0.1x	0.67+0.1x	0.560.0x	0.570.0x	0.610.0x	0.64+0.1x	0.58-0.1x	0.68-0.1x	0.75+0.3x	0.490.0x	0.460.0x	0.45+0.1x	0.38
Asset Turnover	1.45+0.1x	1.340.0x	1.360.0x	1.320.0x	1.36+0.1x	1.30-0.1x	1.39-0.1x	1.490.0x	1.45-0.1x	1.51+0.1x	1.41-0.1x	1.510.0x	1.50+0.1x	1.37-0.1x	1.50
FCF Margin	3.6%-1.6pp	5.2%-1.7pp	6.9%-0.3pp	7.2%+0.3pp	6.9%-0.9pp	7.8%+1.1pp	6.8%+0.7pp	6.0%+0.3pp	5.8%+1.4pp	4.4%-0.8pp	5.2%+0.2pp	5.0%+0.4pp	4.6%-0.9pp	5.5%-0.3pp	5.8%

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Operating Margin	7.1%+2.5pp	8.1%-0.3pp	0.3%-7.4pp	3.8%-4.8pp	4.6%-3.4pp	8.3%+0.4pp	7.7%-0.4pp	8.6%-0.6pp
Net Margin	4.9%+1.9pp	5.6%-0.1pp	0.0%-5.5pp	2.1%-3.9pp	3.0%-1.2pp	5.7%+7.1pp	5.5%-0.3pp	6.0%-0.3pp
Return on Equity	5.3%+1.9pp	6.0%-0.2pp	0.0%-5.6pp	2.3%-3.8pp	3.4%-1.1pp	6.2%+7.8pp	5.6%-0.1pp	6.1%-0.5pp
Return on Assets	1.8%+0.7pp	2.0%0.0pp	0.0%-1.9pp	0.7%-1.3pp	1.1%-0.4pp	2.0%+2.5pp	1.9%-0.1pp	2.0%-0.1pp
Current Ratio	0.78-0.1x	0.80-0.1x	0.790.0x	0.82-0.1x	0.850.0x	0.850.0x	0.830.0x	0.91+0.1x
Debt-to-Equity	0.67-0.1x	0.690.0x	0.720.0x	0.710.0x	0.73+0.1x	0.710.0x	0.74+0.1x	0.74+0.1x
Asset Turnover	0.360.0x	0.360.0x	0.370.0x	0.360.0x	0.360.0x	0.350.0x	0.340.0x	0.340.0x
FCF Margin	9.2%+3.5pp	7.3%+3.1pp	0.1%-1.3pp	4.5%-8.4pp	5.7%-0.3pp	4.2%+3.8pp	1.5%+8.0pp	12.8%+6.3pp

Not reported in any period shown, so not listed: Gross Margin.

Note: The current ratio is below 1.0 (0.79), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
UnitedHealth Group Incorporated UNH	FY2025	$447.6B	$12.1B	2.7%	$356.5B	48/100
Cigna Group CI	FY2025	$274.9B	$6.0B	2.2%	$75.6B	43/100
Elevance Health Inc ELV	FY2025	$199.1B	$5.7B	2.8%	$90.0B	49/100
CVS Health Corporation CVS	FY2025	$402.1B	$1.8B	0.4%	$124.3B	35/100
Humana HUM	FY2025	$129.7B	$1.2B	0.9%	$48.1B	50/100
Centene Corp Del CNC	FY2025	$194.8B	-$6.7B	-3.4%	$33.6B	36/100

Where UnitedHealth Group Incorporated Ranks

Frequently Asked Questions

What is UnitedHealth Group Incorporated's annual revenue?

UnitedHealth Group Incorporated (UNH) reported $447.6B in total revenue for fiscal year 2025. This represents a 11.8% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is UnitedHealth Group Incorporated's revenue growing?

UnitedHealth Group Incorporated (UNH) revenue grew by 11.8% year-over-year, from $400.3B to $447.6B in fiscal year 2025.

Is UnitedHealth Group Incorporated profitable?

Yes, UnitedHealth Group Incorporated (UNH) reported a net income of $12.1B in fiscal year 2025, with a net profit margin of 2.7%.

What is UnitedHealth Group Incorporated's EBITDA?

UnitedHealth Group Incorporated (UNH) had EBITDA of $23.3B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does UnitedHealth Group Incorporated have?

As of fiscal year 2025, UnitedHealth Group Incorporated (UNH) had $24.4B in cash and equivalents against $72.3B in long-term debt.

What is UnitedHealth Group Incorporated's operating margin?

UnitedHealth Group Incorporated (UNH) had an operating margin of 4.2% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is UnitedHealth Group Incorporated's net profit margin?

UnitedHealth Group Incorporated (UNH) had a net profit margin of 2.7% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Does UnitedHealth Group Incorporated pay dividends?

Yes, UnitedHealth Group Incorporated (UNH) paid $8.73 per share in dividends during fiscal year 2025.

What is UnitedHealth Group Incorporated's return on equity (ROE)?

UnitedHealth Group Incorporated (UNH) has a return on equity of 12.0% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is UnitedHealth Group Incorporated's free cash flow?

UnitedHealth Group Incorporated (UNH) generated $16.1B in free cash flow during fiscal year 2025. This represents a -22.4% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is UnitedHealth Group Incorporated's operating cash flow?

UnitedHealth Group Incorporated (UNH) generated $19.7B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are UnitedHealth Group Incorporated's total assets?

UnitedHealth Group Incorporated (UNH) had $309.6B in total assets as of fiscal year 2025, including both current and long-term assets.

What are UnitedHealth Group Incorporated's capital expenditures?

UnitedHealth Group Incorporated (UNH) invested $3.6B in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Does UnitedHealth Group Incorporated buy back shares?

Yes, UnitedHealth Group Incorporated (UNH) spent $5.5B on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does UnitedHealth Group Incorporated have outstanding?

UnitedHealth Group Incorporated (UNH) had 908M shares outstanding as of fiscal year 2025.

What is UnitedHealth Group Incorporated's current ratio?

UnitedHealth Group Incorporated (UNH) had a current ratio of 0.79 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.

What is UnitedHealth Group Incorporated's debt-to-equity ratio?

UnitedHealth Group Incorporated (UNH) had a debt-to-equity ratio of 0.72 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is UnitedHealth Group Incorporated's return on assets (ROA)?

UnitedHealth Group Incorporated (UNH) had a return on assets of 3.9% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is UnitedHealth Group Incorporated's P/E ratio?

UnitedHealth Group Incorporated (UNH) trades at 25.2x earnings, its market capitalization divided by net income of $14.1B net income, trailing 12 months to June 30, 2026. The market capitalization is $356.5B as of Sep 5, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is UnitedHealth Group Incorporated's price-to-sales ratio?

UnitedHealth Group Incorporated (UNH) trades at 0.8x sales, its market capitalization divided by revenue of $450.1B revenue, trailing 12 months to June 30, 2026. The market capitalization is $356.5B as of Sep 5, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is UnitedHealth Group Incorporated's Altman Z-Score?

UnitedHealth Group Incorporated (UNH) has an Altman Z-Score of 3.01, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

What is UnitedHealth Group Incorporated's Piotroski F-Score?

UnitedHealth Group Incorporated (UNH) has a Piotroski F-Score of 6 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are UnitedHealth Group Incorporated's earnings high quality?

UnitedHealth Group Incorporated (UNH) has an earnings quality ratio of 1.63x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can UnitedHealth Group Incorporated cover its interest payments?

UnitedHealth Group Incorporated (UNH) has an interest coverage ratio of 4.74x, meaning it can adequately cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is UnitedHealth Group Incorporated?

UnitedHealth Group Incorporated (UNH) scores 48 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.