UnitedHealth Group Incorporated (UNH)

UnitedHealth Group Income Statement

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

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Premiums & Annuity Revenue	352,229	308,810	290,827	257,157	226,233
Total Interest & Dividend Income	3,920	4,492	3,813	1,819	1,484
Gain (Loss) on Sale of Investments	-	710	276	211	840
Non-Insurance Activities Revenue	53,380	50,226	42,583	37,424	34,437
Other Revenue	38,038	36,040	34,123	27,551	24,603
Total Revenue	447,567	400,278	371,622	324,162	287,597
Revenue Growth (YoY)	11.81%	7.71%	14.64%	12.71%	11.84%
Policy Benefits	313,995	264,185	241,894	210,842	186,911
Depreciation & Amortization	4,361	4,099	3,972	3,400	3,103
Selling, General & Administrative	59,592	53,013	54,628	47,782	42,579
Non-Insurance Activities Expense	50,655	46,694	38,770	33,703	31,034
Total Operating Expenses	428,603	367,991	339,264	295,727	263,627
Operating Income	18,964	32,287	32,358	28,435	23,970
Interest Expense	-4,002	-3,906	-3,246	-2,092	-1,660
EBT Excluding Unusual Items	14,962	28,381	29,112	26,343	22,310
Gain (Loss) on Sale of Assets	-265	-8,310	-	-	-
Pretax Income	14,697	20,071	29,112	26,343	22,310
Income Tax Expense	1,890	4,829	5,968	5,704	4,578
Earnings From Continuing Ops.	12,807	15,242	23,144	20,639	17,732
Minority Interest in Earnings	-751	-837	-763	-519	-447
Net Income	12,056	14,405	22,381	20,120	17,285
Net Income to Common	12,056	14,405	22,381	20,120	17,285
Net Income Growth	-16.31%	-35.64%	11.24%	16.40%	12.22%
Shares Outstanding (Basic)	911	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)	13.23	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 Per Share	17.64	22.29	27.38	24.64	20.80
Dividend Per Share	-	8.180	7.290	6.400	5.600
Dividend Growth	-	12.21%	13.91%	14.29%	15.94%
Operating Margin	4.24%	8.07%	8.71%	8.77%	8.33%
Profit Margin	2.69%	3.60%	6.02%	6.21%	6.01%
Free Cash Flow Margin	3.59%	5.17%	6.91%	7.22%	6.92%
EBITDA	23,325	34,986	35,130	30,835	26,173
EBITDA Margin	5.21%	8.74%	9.45%	9.51%	9.10%
D&A For EBITDA	4,361	2,699	2,772	2,400	2,203
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%
Revenue as Reported	447,567	400,278	371,622	324,162	287,597

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Insurance template. Financial Sources.

SEC Filings: 10-K · 10-Q