UnitedHealth Group Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Premiums Earned	352,229	308,810	290,827	257,157	226,233
Investment Income	3,920	5,202	4,089	2,030	2,324
Total Other Revenues	91,418	86,266	76,706	64,975	59,040
Revenue	447,567	400,278	371,622	324,162	287,597
Revenue Growth (YoY)	11.81%	7.71%	14.64%	12.71%	11.84%
Insurance Benefits & Claims	313,995	264,185	241,894	210,842	186,911
Other Operating Expenses	114,608	103,806	97,370	84,885	76,716
Operating Income	18,964	32,287	32,358	28,435	23,970
Interest Expense	-4,002	-3,906	-3,246	-2,092	-1,660
Other Non-Operating Income (Expense)	-265	-8,310	-	-	-
Total Non-Operating Income (Expense)	-4,267	-12,216	-3,246	-2,092	-1,660
Pretax Income	14,697	20,071	29,112	26,343	22,310
Provision for Income Taxes	1,890	4,829	5,968	5,704	4,578
Net Income	12,056	14,405	22,381	20,639	17,732
Minority Interest in Earnings	751	837	763	-	-
Net Income to Common	12,056	14,405	22,381	20,639	17,732
Net Income Growth	-16.31%	-35.64%	8.44%	16.39%	12.45%
Shares Outstanding (Basic)	908	921	928	937	943
Shares Outstanding (Diluted)	911	929	938	950	956
Shares Change (YoY)	-1.94%	-0.96%	-1.26%	-0.63%	-0.52%
EPS (Basic)	13.28	15.64	24.12	21.47	18.33
EPS (Diluted)	13.23	15.51	23.86	21.18	18.08
EPS Growth	-14.70%	-35.00%	12.65%	17.15%	12.79%
Free Cash Flow	16,075	20,705	25,682	23,404	19,889
Free Cash Flow Growth	-22.36%	-19.38%	9.73%	17.67%	-1.16%
Free Cash Flow Per Share	17.65	22.29	27.38	24.64	20.80
Dividends Per Share	8.730	8.180	7.290	6.400	5.600
Dividend Growth	6.72%	12.21%	13.91%	14.29%	15.94%
Operating Margin	4.24%	8.07%	8.71%	8.77%	8.33%
Profit Margin	2.86%	3.81%	6.23%	6.37%	6.17%
FCF Margin	3.59%	5.17%	6.91%	7.22%	6.92%
EBITDA	23,325	36,386	36,330	31,835	27,073
EBITDA Margin	5.21%	9.09%	9.78%	9.82%	9.41%
EBIT	18,964	32,287	32,358	28,435	23,970
EBIT Margin	4.24%	8.07%	8.71%	8.77%	8.33%
Effective Tax Rate	12.86%	24.06%	20.50%	21.65%	20.52%

Updated Dec 31, 2025. Data Source: Fiscal.ai. Insurance template. Financial Sources.