UnitedHealth Group Incorporated (UNH)
NYSE: UNH · Real-Time Price · USD
422.86
-2.12 (-0.50%)
Oct 23, 2026, 12:57 PM EDT - Market open
UnitedHealth Group Cash Flow Statement
Financials in millions USD. Fiscal year is January - December.
Millions USD. Fiscal year is Jan - Dec.
Operating Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | 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 Income | 15,884 | 12,056 | 14,405 | 22,381 | 20,120 | 17,285 |
Depreciation & Amortization | 2,559 | 2,661 | 2,699 | 2,772 | 2,400 | 2,203 |
Other Amortization | 1,700 | 1,700 | 1,400 | 1,200 | 1,000 | 900 |
Gain (Loss) on Sale of Assets | -575 | -645 | 4,977 | -489 | -588 | - |
Stock-Based Compensation | 1,019 | 971 | 1,018 | 1,059 | 925 | 800 |
Change in Accounts Receivable | -764 | -764 | -1,437 | -3,114 | -2,523 | -1,000 |
Change in Accounts Payable | 1,665 | 1,665 | 2,463 | 3,516 | 1,964 | 1,162 |
Change in Unearned Revenue | 163 | 163 | -197 | 203 | 126 | -310 |
Change in Insurance Reserves / Liabilities | 5,824 | 5,824 | 2,503 | 3,482 | 4,053 | 2,701 |
Change in Other Net Operating Assets | -3,056 | -4,606 | -4,140 | -2,444 | -1,374 | -1,031 |
Other Operating Activities | 1,776 | 672 | 513 | 502 | 103 | -367 |
Operating Cash Flow | 26,195 | 19,697 | 24,204 | 29,068 | 26,206 | 22,343 |
Operating Cash Flow Growth | 24.99% | -18.62% | -16.73% | 10.92% | 17.29% | 0.76% |
Investing Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | 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 |
Capital Expenditures | -3,369 | -3,622 | -3,499 | -3,386 | -2,802 | -2,454 |
Sale of Property, Plant & Equipment | 561 | 561 | 2,041 | 685 | 3,414 | 15 |
Cash Acquisitions | -1,611 | -4,509 | -13,408 | -10,136 | -21,458 | -4,821 |
Investment in Securities | -5,782 | 361 | 525 | -1,777 | -6,837 | -1,843 |
Other Investing Activities | 1,168 | -341 | -98 | 91 | -793 | -1,269 |
Investing Cash Flow | -11,429 | -8,685 | -20,527 | -15,574 | -28,476 | -10,372 |
Financing Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | 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 |
Short-Term Debt Issued | - | 807 | - | 11 | 732 | - |
Long-Term Debt Issued | - | 2,969 | 17,811 | 6,394 | 14,819 | 6,933 |
Total Debt Issued | 1,338 | 3,776 | 17,811 | 6,405 | 15,551 | 6,933 |
Total Debt Repaid | -6,125 | -3,050 | -3,151 | -2,125 | -3,015 | -4,452 |
Net Debt Issued (Repaid) | -4,787 | 726 | 14,660 | 4,280 | 12,536 | 2,481 |
Issuance of Common Stock | 827 | 827 | 1,846 | 1,353 | 1,253 | 1,355 |
Repurchases of Common Stock | -5,031 | -5,545 | -9,000 | -8,000 | -7,000 | -5,000 |
Common Dividends Paid | -8,172 | -7,916 | -7,533 | -6,761 | -5,991 | -5,280 |
Other Financing Activities | 1,099 | 264 | -3,485 | -2,401 | 3,428 | -1,011 |
Financing Cash Flow | -16,064 | -11,644 | -3,512 | -11,529 | 4,226 | -7,455 |
Net Cash Flow
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | 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 |
Foreign Exchange Rate Adjustments | 4 | 40 | -61 | 97 | 34 | -62 |
Miscellaneous Cash Flow Adjustments | -71 | -355 | -219 | - | - | - |
Net Cash Flow | -1,365 | -947 | -115 | 2,062 | 1,990 | 4,454 |
Free Cash Flow
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | 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 |
Free Cash Flow | 22,826 | 16,075 | 20,705 | 25,682 | 23,404 | 19,889 |
Free Cash Flow Growth | 31.39% | -22.36% | -19.38% | 9.73% | 17.67% | -1.16% |
Free Cash Flow Margin | 5.07% | 3.59% | 5.17% | 6.91% | 7.22% | 6.92% |
Free Cash Flow Per Share | 25.18 | 17.64 | 22.29 | 27.38 | 24.64 | 20.80 |
Levered Free Cash Flow | 26,501 | 15,376 | 12,588 | 20,855 | 23,759 | 19,251 |
Unlevered Free Cash Flow | 28,910 | 17,877 | 15,029 | 22,884 | 25,067 | 20,288 |
Additional Metrics
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | 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 |
Cash Interest Paid | 4,030 | 4,030 | 3,594 | 3,035 | 1,945 | 1,653 |
Cash Income Tax Paid | 3,714 | 3,714 | 4,620 | 6,078 | 5,222 | 3,966 |
Change in Working Capital | 3,832 | 2,282 | -808 | 1,643 | 2,246 | 1,522 |