UnitedHealth Group Incorporated (UNH)
NYSE: UNH · Real-Time Price · USD
287.57
+2.08 (0.73%)
At close: Mar 17, 2026, 4:00 PM EDT
286.95
-0.62 (-0.22%)
After-hours: Mar 17, 2026, 7:00 PM EDT
UnitedHealth Group Cash Flow Statement
Financials in millions USD. Fiscal year is January - December.
Millions USD. Fiscal year is Jan - Dec.
Fiscal Quarter | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 | Q4 2021 | Q3 2021 | Q2 2021 | Q1 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Period Ending | Dec '25 Dec 31, 2025 | Sep '25 Sep 30, 2025 | Jun '25 Jun 30, 2025 | Mar '25 Mar 31, 2025 | Dec '24 Dec 31, 2024 | Sep '24 Sep 30, 2024 | Jun '24 Jun 30, 2024 | Mar '24 Mar 31, 2024 | Dec '23 Dec 31, 2023 | Sep '23 Sep 30, 2023 | Jun '23 Jun 30, 2023 | Mar '23 Mar 31, 2023 | Dec '22 Dec 31, 2022 | Sep '22 Sep 30, 2022 | Jun '22 Jun 30, 2022 | Mar '22 Mar 31, 2022 | Dec '21 Dec 31, 2021 | Sep '21 Sep 30, 2021 | Jun '21 Jun 30, 2021 | Mar '21 Mar 31, 2021 |
Net Income | 218 | 2,543 | 3,572 | 6,474 | 5,784 | 6,258 | 4,421 | -1,221 | 5,675 | 6,038 | 5,657 | 5,774 | 4,908 | 5,384 | 5,199 | 5,148 | 4,191 | 4,191 | 4,372 | 4,978 |
Depreciation & Amortization | 1,117 | 1,099 | 1,084 | 1,061 | 1,041 | 1,041 | 1,020 | 997 | 974 | 1,007 | 1,021 | 970 | 982 | 828 | 802 | 788 | 771 | 796 | 778 | 758 |
Stock-Based Compensation | 176 | 223 | 197 | 375 | 187 | 237 | 222 | 372 | 208 | 247 | 242 | 362 | 250 | 171 | 205 | 299 | 209 | 165 | 170 | 256 |
Other Adjustments | 1,002 | -912 | -80 | 176 | 499 | -925 | 1,174 | 7,238 | -197 | 20 | -310 | -263 | -414 | -790 | 22 | 178 | -992 | 65 | -173 | 286 |
Changes in Receivables | -829 | 1,746 | 2,781 | -4,462 | -2,122 | 3,156 | 3,691 | -6,162 | -540 | -2,771 | 4,503 | -4,306 | 40 | 1,641 | 317 | -4,521 | -153 | 371 | 1,677 | -2,895 |
Changes in Accounts Payable | 2,082 | 63 | 127 | -607 | 1,213 | 1,214 | 267 | -231 | 1,146 | 823 | -249 | 1,796 | 548 | 609 | 218 | 589 | -9 | 873 | -572 | 870 |
Changes in Unearned Premiums | 107 | 338 | -272 | -10 | -16 | 373 | -563 | 9 | -12,018 | 466 | 353 | 11,402 | -10,075 | 10,641 | -518 | 78 | 21 | 192 | -262 | -261 |
Changes in Claims Reserves | -354 | 1,807 | 1,378 | 2,993 | 268 | 1,458 | -1,292 | 2,069 | -355 | 1,429 | -59 | 2,467 | -139 | 163 | 180 | 3,849 | -1,224 | 839 | 118 | 2,968 |
Changes in Other Operating Activities | -1,501 | -962 | -1,599 | -544 | -1,152 | 1,133 | -2,194 | -1,927 | -86 | -357 | -126 | -1,875 | -633 | -98 | 446 | -1,089 | 404 | 88 | -568 | -955 |
Operating Cash Flow | 1,108 | 5,945 | 7,188 | 5,456 | 2,369 | 13,945 | 6,746 | 1,144 | -5,193 | 6,902 | 11,032 | 16,327 | -4,533 | 18,549 | 6,871 | 5,319 | 3,218 | 7,580 | 5,540 | 6,005 |
Operating Cash Flow Growth | -53.23% | -57.37% | 6.55% | 376.92% | - | 102.04% | -38.85% | -92.99% | - | -62.79% | 60.56% | 206.96% | - | 144.71% | 24.02% | -11.42% | -47.26% | 142.41% | -44.62% | 104.04% |
Capital Expenditures | -948 | -890 | -886 | -898 | -912 | -991 | -853 | -743 | -959 | -838 | -829 | -760 | -866 | -724 | -657 | -555 | -695 | -629 | -562 | -568 |
Purchases of Investments | -4,568 | -4,625 | -4,045 | -4,135 | -7,357 | -9,821 | -5,332 | -4,798 | -5,316 | -3,773 | -4,331 | -4,894 | -4,642 | -5,280 | -3,921 | -4,982 | -4,312 | -3,980 | -4,235 | -4,612 |
Proceeds from Sale of Investments | 3,272 | 4,955 | 4,155 | 5,352 | 6,030 | 11,894 | 4,619 | 5,290 | 6,389 | 2,497 | 5,076 | 2,575 | 1,872 | 4,579 | 2,187 | 3,350 | 6,171 | 3,067 | 3,160 | 2,898 |
Payments for Business Acquisitions | -73 | -3,702 | -32 | -702 | -1,734 | -8,643 | -25 | -3,006 | -1,747 | -228 | -335 | -7,826 | -14,304 | -4 | -5,919 | -1,231 | -94 | -85 | -3,449 | -1,193 |
Other Investing Activities | 1,960 | -296 | -634 | 309 | 813 | 1,306 | -5,826 | -3,083 | -239 | -297 | -309 | -115 | -843 | 582 | -277 | -255 | -369 | -252 | -416 | -232 |
Investing Cash Flow | -2,611 | -4,558 | -1,442 | -74 | -1,119 | -5,651 | -7,417 | -6,340 | -1,187 | -2,639 | -728 | -11,020 | -15,369 | -847 | -8,587 | -3,673 | 716 | -1,879 | -5,502 | -3,707 |
Short-Term Debt Issued | -662 | 2,872 | -5,314 | 3,911 | 40 | -8,806 | 2,426 | 6,189 | -1,568 | -1,847 | -3,923 | 7,349 | 748 | -1,356 | -1,808 | 3,148 | -563 | -563 | -4,233 | 4,057 |
Net Short-Term Debt Issued (Repaid) | -662 | 2,872 | -5,314 | 3,911 | 40 | -8,806 | 2,426 | 6,189 | -1,568 | -1,847 | -3,923 | 7,349 | 748 | -1,356 | -1,808 | 3,148 | -563 | -563 | -4,233 | 4,057 |
Long-Term Debt Issued | - | - | 2,969 | - | 5,943 | 11,886 | 2,963 | 5,925 | - | - | -7 | 6,401 | 8,897 | 4,449 | 5,922 | - | -1 | -0.5 | 3,467 | - |
Long-Term Debt Repaid | -1,050 | -2,000 | - | - | -500 | -750 | -1,000 | -750 | - | - | -750 | -1,375 | -915 | -1,000 | -550 | -1,100 | -1,250 | -625 | -750 | -1,150 |
Net Long-Term Debt Issued (Repaid) | -1,050 | -2,000 | 2,969 | - | 5,443 | 11,136 | 1,963 | 5,175 | - | - | -757 | 5,026 | 7,982 | 3,449 | 5,372 | -1,100 | -1,251 | -625.5 | 2,717 | -1,150 |
Issuance of Common Stock | 24 | 222 | 221 | 360 | 235 | 867 | 258 | 486 | 314 | 411 | 284 | 344 | 169 | 328 | 205 | 551 | 278 | 313 | 328 | 436 |
Repurchase of Common Stock | - | - | -2,545 | -3,000 | -4,972 | -956 | -1,536 | -3,072 | -1,500 | -1,500 | -3,000 | -2,000 | -1,000 | -1,000 | -2,500 | -2,500 | -1,050 | -1,050 | -1,250 | -1,650 |
Net Common Stock Issued (Repurchased) | 24 | 222 | -2,324 | -2,640 | -4,737 | -89 | -1,278 | -2,586 | -1,186 | -1,089 | -2,716 | -1,656 | -831 | -672 | -2,295 | -1,949 | -772 | -737 | -922 | -1,214 |
Common Dividends Paid | -2,002 | -2,002 | -2,000 | -1,912 | -1,932 | -1,937 | -1,935 | -1,729 | -1,738 | -1,739 | -1,747 | -1,537 | -1,541 | -1,542 | -1,545 | -1,363 | -1,365 | -1,367 | -1,367 | -1,181 |
Other Financing Activities | 2,824 | -1,857 | -1,278 | 740 | -933 | -2,509 | -945 | 1,182 | -1,934 | -2,429 | -1,316 | 4,008 | -1,966 | 1,154 | 769 | 3,568 | -238 | -1,168 | 789 | 275 |
Financing Cash Flow | -1,031 | -2,765 | -7,947 | 99 | -8,342 | -2,205 | -1,196 | 8,231 | -7,156 | -7,104 | -10,459 | 13,190 | 4,392 | -3,416 | 946 | 2,304 | -3,627 | -4,397 | -218 | 787 |
Effect of Exchange Rate Changes on Cash and Cash Equivalents | 15 | -4 | 14 | 15 | -31 | 14 | 4 | -48 | 48 | -57 | 55 | 51 | 30 | -53 | -100 | 157 | -17 | -51 | 57 | -51 |
Net Cash Flow | -2,519 | -1,382 | -2,187 | 5,496 | -7,123 | 6,103 | -1,863 | 2,987 | -13,488 | -2,898 | -100 | 18,548 | -15,480 | 14,233 | -870 | 4,107 | 290 | 1,253 | -123 | 3,034 |
Free Cash Flow | 160 | 5,055 | 6,302 | 4,558 | 1,457 | 12,954 | 5,893 | 401 | -6,152 | 6,064 | 10,203 | 15,567 | -5,399 | 17,825 | 6,214 | 4,764 | 2,523 | 6,951 | 4,978 | 5,437 |
Free Cash Flow Growth | -89.02% | -60.98% | 6.94% | 1036.66% | - | 113.62% | -42.24% | -97.42% | - | -65.98% | 64.19% | 226.76% | - | 156.44% | 24.83% | -12.38% | -54.35% | 170.47% | -47.88% | 119.77% |
FCF Margin | 0.14% | 4.47% | 5.65% | 4.16% | 1.45% | 12.85% | 5.96% | 0.40% | -6.52% | 6.57% | 10.98% | 16.93% | -6.52% | 22.04% | 7.74% | 5.94% | 3.42% | 9.61% | 6.98% | 7.75% |
Free Cash Flow Per Share | 0.18 | 5.57 | 6.93 | 4.97 | 1.57 | 13.93 | 6.35 | 0.43 | -6.58 | 6.48 | 10.85 | 16.51 | -5.70 | 18.80 | 6.54 | 4.99 | 2.64 | 7.28 | 5.21 | 5.68 |
Levered Free Cash Flow | -845 | 3,063 | -319 | 9,387 | 11,200 | 11,358 | 6,487 | 8,248 | -6,836 | 5,292 | 1,147 | 29,682 | 3,594 | 18,733 | 9,054 | 7,007 | 2,869 | 4,323 | 1,670 | 7,729 |
Unlevered Free Cash Flow | 741.94 | 3,046 | 2,961 | 6,285 | 6,794 | 9,927 | 3,823 | -9,685,646 | -4,581 | 7,794 | 6,475 | 17,901 | -4,602 | 17,040 | 5,854 | 5,301 | 5,036 | 5,845 | 3,508 | 5,134 |
Updated Dec 31, 2025. Data Source: Fiscal.ai. Insurance template. Financial Sources.