UnitedHealth Group Incorporated (UNH)

UnitedHealth Group Income Statement

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

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Premiums & Annuity Revenue	339,901	308,810	290,827	257,157	226,233	201,478
Total Interest & Dividend Income	4,114	4,492	3,813	1,819	1,484	1,502
Gain (Loss) on Sale of Investments	710	710	276	211	840	-
Non-Insurance Activities Revenue	53,371	50,226	42,583	37,424	34,437	34,145
Other Revenue	37,063	36,040	34,123	27,551	24,603	20,016
Total Revenue	435,159	400,278	371,622	324,162	287,597	257,141
Revenue Growth (YoY)	10.47%	7.71%	14.64%	12.71%	11.84%	6.19%
Policy Benefits	298,989	264,185	241,894	210,842	186,911	159,396
Depreciation & Amortization	4,285	4,099	3,972	3,400	3,103	2,891
Selling, General & Administrative	55,089	53,013	54,628	47,782	42,579	41,704
Non-Insurance Activities Expense	50,439	46,694	38,770	33,703	31,034	30,745
Total Operating Expenses	408,802	367,991	339,264	295,727	263,627	234,736
Operating Income	26,357	32,287	32,358	28,435	23,970	22,405
Interest Expense	-4,031	-3,906	-3,246	-2,092	-1,660	-1,663
EBT Excluding Unusual Items	22,326	28,381	29,112	26,343	22,310	20,742
Gain (Loss) on Sale of Assets	-118	-8,310	-	-	-	-
Pretax Income	22,208	20,071	29,112	26,343	22,310	20,742
Income Tax Expense	3,835	4,829	5,968	5,704	4,578	4,973
Earnings From Continuing Ops.	18,373	15,242	23,144	20,639	17,732	15,769
Minority Interest in Earnings	-784	-837	-763	-519	-447	-366
Net Income	17,589	14,405	22,381	20,120	17,285	15,403
Net Income to Common	17,589	14,405	22,381	20,120	17,285	15,403
Net Income Growth	22.85%	-35.64%	11.24%	16.40%	12.22%	11.30%
Shares Outstanding (Basic)	908	921	928	937	943	949
Shares Outstanding (Diluted)	916	929	938	950	956	961
Shares Change (YoY)	-1.61%	-0.96%	-1.26%	-0.63%	-0.52%	-0.52%
EPS (Basic)	19.38	15.64	24.12	21.47	18.33	16.23
EPS (Diluted)	19.22	15.51	23.86	21.18	18.08	16.03
EPS Growth	24.92%	-35.00%	12.65%	17.15%	12.79%	11.86%
Free Cash Flow	17,372	20,705	25,682	23,404	19,889	20,123
Free Cash Flow Per Share	18.98	22.29	27.38	24.64	20.80	20.94
Dividend Per Share	8.620	8.180	7.290	6.400	5.600	4.830
Dividend Growth	8.29%	12.21%	13.91%	14.29%	15.94%	16.67%
Operating Margin	6.06%	8.07%	8.71%	8.77%	8.33%	8.71%
Profit Margin	4.04%	3.60%	6.02%	6.21%	6.01%	5.99%
Free Cash Flow Margin	3.99%	5.17%	6.91%	7.22%	6.92%	7.83%
EBITDA	29,242	34,986	35,130	30,835	26,173	24,496
EBITDA Margin	6.72%	8.74%	9.45%	9.51%	9.10%	9.53%
D&A For EBITDA	2,885	2,699	2,772	2,400	2,203	2,091
EBIT	26,357	32,287	32,358	28,435	23,970	22,405
EBIT Margin	6.06%	8.07%	8.71%	8.77%	8.33%	8.71%
Effective Tax Rate	17.27%	24.06%	20.50%	21.65%	20.52%	23.98%
Revenue as Reported	435,159	400,278	371,622	324,162	287,597	257,141

Updated Oct 28, 2025. Source: S&P Global Market Intelligence. Insurance template. Financial Sources.

SEC Filings: 10-K · 10-Q