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UnitedHealth Group Inc. Income Statement 2025-2011 | UNH
Brief overview of financial results at UnitedHealth Group Inc.
The comparison covers a five-year financial horizon. The revenue attributed to UnitedHealth Group Inc. moved from 257 billion dollars to 448 billion dollars between the two endpoints. The cumulative result was +74.1%, corresponding to roughly 11.7% per year. The trajectory reflects meaningful expansion of the business.
Gross profit was $226 billion at the start and $397 billion at the end of the period (+75.3%). Cost of revenue developed more favorably than sales, supporting gross profitability. The gross margin was 88% at the start and 88.7% at the end. The relationship between gross profit and revenue changed only slightly.
EBITDA changed from 25.3 billion dollars to 23.3 billion dollars (−7.8%). EBITDA lagged revenue, showing weaker operating momentum. EBITDA margin was 9.8% at the start and 5.2% at the end. The business retained less EBITDA from each unit of revenue.
Net income changed from $15.4 billion to $12.1 billion (−21.7%). The decline reduces the quality of the financial trajectory.
The market value of the business moved from 327 billion dollars to 267 billion dollars, or −18.3%. The decline in value indicates softer investor confidence.
What the figures show
The five-year picture requires weighing both strengths and weaknesses. The financial profile benefits from steady gross profitability and revenue expansion. The main areas of concern are pressure on operating profitability and lower net income. Future reports should be judged by revenue momentum, margins, and the conversion of sales into net income.
Annual Income Statement UnitedHealth Group Inc.
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Market Cap |
267 B | 433 B | 462 B | 456 B | 472 B | 327 B | 266 B | 260 B | 229 B | 154 B | 110 B | 101 B | 71.9 B | 57.1 B | 53.1 B |
Shares |
908 M | 921 M | 928 M | 937 M | 943 M | 949 M | 948 M | 960 M | 969 M | 952 M | 953 M | 954 M | 988 M | 1.02 B | 1.04 B |
Historical Prices |
294 | 470 | 498 | 487 | 501 | 345 | 284 | 237 | 207 | 148 | 107 | 90.3 | 66.2 | 46.7 | 43 |
Net Income |
12.1 B | 14.4 B | 22.4 B | 20.1 B | 17.3 B | 15.4 B | 13.8 B | 12 B | 10.6 B | 7.02 B | 5.81 B | 5.62 B | 5.62 B | 5.53 B | 5.14 B |
Revenue |
448 B | 400 B | 372 B | 324 B | 288 B | 257 B | 240 B | 225 B | 200 B | 184 B | 156 B | 130 B | 122 B | 110 B | 101 B |
Cost of Revenue |
50.7 B | 46.7 B | 38.8 B | 33.7 B | 31 B | 30.7 B | 28.1 B | 27 B | 24.1 B | 24.4 B | - | - | - | - | - |
Gross Profit |
- | - | - | - | - | - | 55.7 B | 52.5 B | 46 B | 42.6 B | 36.3 B | 32.7 B | 29.6 B | 27.2 B | 24.5 B |
Operating Income |
19 B | 32.3 B | 32.4 B | 28.4 B | 24 B | 22.4 B | 19.7 B | 17.3 B | 15.2 B | 12.9 B | 11 B | 10.3 B | 9.62 B | 9.25 B | 8.46 B |
Interest Expense |
4 B | 3.91 B | 3.25 B | 2.09 B | 1.66 B | 1.66 B | 1.7 B | 1.4 B | 1.19 B | 1.07 B | 790 M | 618 M | 708 M | 632 M | 505 M |
EBITDA |
23.3 B | 36.4 B | 36.3 B | 31.8 B | 27.1 B | 25.3 B | 20.5 B | 18.4 B | 16.4 B | 14.2 B | 12 B | 11 B | 10.3 B | 9.88 B | 8.93 B |
Operating Expenses |
- | - | - | - | - | - | 37.9 B | 36.5 B | 31.8 B | 30.5 B | 26 B | 23.2 B | 20.7 B | 18.6 B | 16.7 B |
General and Administrative Expenses |
59.6 B | 53 B | 54.6 B | 47.8 B | 42.6 B | 41.7 B | - | - | - | - | - | - | - | - | 15.6 B |
All numbers in USD currency
Quarterly Income Statement UnitedHealth Group Inc.
| 2026-Q1 | 2025-Q4 | 2025-Q2 | 2025-Q1 | 2024-Q4 | 2024-Q3 | 2024-Q2 | 2023-Q4 | 2023-Q3 | 2023-Q2 | 2023-Q1 | 2022-Q4 | 2022-Q3 | 2022-Q2 | 2022-Q1 | 2021-Q4 | 2021-Q3 | 2021-Q2 | 2021-Q1 | 2020-Q4 | 2020-Q3 | 2020-Q2 | 2020-Q1 | 2019-Q4 | 2019-Q3 | 2019-Q2 | 2019-Q1 | 2018-Q4 | 2018-Q3 | 2018-Q2 | 2018-Q1 | 2017-Q4 | 2017-Q3 | 2017-Q2 | 2017-Q1 | 2016-Q4 | 2016-Q3 | 2016-Q2 | 2016-Q1 | 2015-Q4 | 2015-Q3 | 2015-Q2 | 2015-Q1 | 2014-Q4 | 2014-Q3 | 2014-Q2 | 2014-Q1 | 2013-Q4 | 2013-Q3 | 2013-Q2 | 2013-Q1 | 2012-Q4 | 2012-Q3 | 2012-Q2 | 2012-Q1 | 2011-Q4 | 2011-Q3 | 2011-Q2 | 2011-Q1 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Shares |
908 M | 906 M | 907 M | 912 M | 915 M | 923 M | 921 M | 924 M | 926 M | 930 M | 933 M | 934 M | 935 M | 937 M | 941 M | 941 M | 943 M | 944 M | 945 M | 946 M | 950 M | 949 M | 949 M | 948 M | 949 M | 950 M | 958 M | 960 M | 962 M | 961 M | 966 M | 969 M | 968 M | 964 M | 954 M | 952 M | 952 M | 951 M | 953 M | 953 M | 953 M | 952 M | 954 M | 954 M | 969 M | 979 M | 983 M | 988 M | 1 B | 1.01 B | 1.02 B | 1.02 B | 1.02 B | 1.03 B | 1.04 B | 1.04 B | 1.06 B | 1.08 B | 1.09 B |
Net Income |
6.28 B | - | 3.41 B | 6.29 B | - | 6.06 B | 4.22 B | - | 5.84 B | 5.47 B | 5.61 B | - | 5.26 B | 5.07 B | 5.03 B | - | 4.09 B | 4.27 B | 4.86 B | - | 3.17 B | 6.64 B | 3.38 B | - | 3.54 B | 3.29 B | 3.47 B | - | 3.19 B | 2.92 B | 2.84 B | - | 2.48 B | 2.28 B | 2.17 B | - | 1.97 B | 1.75 B | 1.61 B | - | 1.6 B | 1.58 B | 1.41 B | - | 1.6 B | 1.41 B | 1.1 B | 1.43 B | 1.57 B | 1.44 B | 1.19 B | 1.24 B | 1.56 B | 1.34 B | 1.39 B | 1.26 B | 1.27 B | 1.27 B | 1.35 B |
Revenue |
112 B | - | 112 B | 110 B | - | 101 B | 98.9 B | - | 92.4 B | 92.9 B | 91.9 B | - | 80.9 B | 80.3 B | 80.1 B | - | 72.3 B | 71.3 B | 70.2 B | - | 65.1 B | 62.1 B | 64.4 B | - | 60.4 B | 60.6 B | 60.3 B | - | 56.6 B | 56.1 B | 55.2 B | - | 50.3 B | 50.1 B | 48.7 B | - | 46.3 B | 46.5 B | 44.5 B | - | 41.5 B | 36.3 B | 35.8 B | - | 32.8 B | 32.6 B | 31.7 B | 31.1 B | 30.6 B | 30.4 B | 30.3 B | 28.8 B | 27.3 B | 27.3 B | 27.3 B | 25.9 B | 25.3 B | 25.2 B | 25.4 B |
Cost of Revenue |
12.8 B | - | 13 B | 12.4 B | - | 11.8 B | 11.3 B | - | 9.42 B | 9.75 B | 9.4 B | - | 8.31 B | 8.6 B | 8.49 B | - | 7.8 B | 7.66 B | 7.57 B | - | 7.94 B | 7.5 B | 7.69 B | - | 6.63 B | 7.6 B | 7.38 B | - | 6.72 B | 6.47 B | 6.18 B | - | 6.07 B | 5.89 B | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Operating Income |
8.99 B | - | 5.15 B | 9.12 B | - | 8.71 B | 7.88 B | - | 8.53 B | 8.06 B | 8.09 B | - | 7.46 B | 7.13 B | 6.95 B | - | 5.71 B | 5.98 B | 6.74 B | - | 4.65 B | 9.24 B | 5 B | - | 5.01 B | 4.74 B | 4.83 B | - | 4.59 B | 4.2 B | 4.05 B | - | 4.09 B | 3.73 B | 3.41 B | - | 3.58 B | 3.2 B | 2.96 B | - | 3.02 B | 2.9 B | 2.64 B | - | 2.9 B | 2.55 B | 2.05 B | 2.45 B | 2.63 B | 2.4 B | 2.14 B | 2.1 B | 2.61 B | 2.23 B | 2.32 B | 2.07 B | 2.07 B | 2.1 B | 2.22 B |
Interest Expense |
955 M | - | 1.03 B | 998 M | - | 1.07 B | 985 M | - | 834 M | 828 M | 754 M | - | 516 M | 467 M | 433 M | - | 422 M | 410 M | 397 M | - | 395 M | 430 M | 437 M | - | 449 M | 418 M | 400 M | - | 353 M | 344 M | 329 M | - | 294 M | 301 M | 283 M | - | 269 M | 271 M | 259 M | - | 229 M | 151 M | 150 M | - | 152 M | 155 M | 160 M | - | 178 M | 176 M | 178 M | - | 158 M | 153 M | 148 M | - | 129 M | 119 M | 118 M |
EBITDA |
10 B | - | 6.23 B | 10.2 B | - | 9.75 B | 8.9 B | - | 9.53 B | 9.08 B | 9.06 B | - | 8.29 B | 7.93 B | 7.74 B | - | 6.51 B | 6.76 B | 7.5 B | - | 5.37 B | 9.96 B | 5.72 B | - | 5.72 B | 5.4 B | 5.47 B | - | 5.2 B | 4.8 B | 4.64 B | - | 4.67 B | 4.29 B | 3.95 B | - | 4.1 B | 3.71 B | 3.46 B | - | 3.47 B | 3.27 B | 3.02 B | - | 3.28 B | 2.92 B | 2.41 B | 2.45 B | 2.98 B | 2.74 B | 2.48 B | 2.1 B | 2.93 B | 2.55 B | 2.61 B | 2.07 B | 2.36 B | 2.37 B | 2.49 B |
General and Administrative Expenses |
15.4 B | - | 13.8 B | 13.6 B | - | 13.3 B | 13.2 B | - | 13.9 B | 13.8 B | 13.6 B | - | 11.7 B | 11.7 B | 11.4 B | - | 10.7 B | 10.4 B | 10.2 B | - | 10.2 B | 10 B | 10 B | - | 8.96 B | 8.42 B | 8.52 B | - | 8.48 B | 8.39 B | 8.51 B | - | 7.39 B | 7.33 B | 7.02 B | - | 7.03 B | 6.79 B | 6.76 B | - | 6.18 B | 5.74 B | 5.83 B | - | 5.44 B | 5.21 B | 5.19 B | - | 4.87 B | 4.82 B | 4.61 B | - | 4.28 B | 4.08 B | 4.1 B | - | 3.9 B | 3.73 B | 3.62 B |
All numbers in USD currency
The income statement is one of the three key financial reports of a company UnitedHealth Group Inc. (alongside the balance sheet and the cash flow statement). It shows how the company makes money and what its expenses are:
- How much revenue the company earned
- How much it spent on production, personnel, marketing, taxes, etc.
- What profit remained in the end
Analyzing the income statement helps an investor understand whether the business generates stable and growing profits, how effectively the company controls its expenses, and whether it is capable of generating income in the future. Additionally, this analysis shows how the company copes with crises and economic cycles, and allows assessing the potential for stock price growth and dividend payments.
Features- The income statement may include both recurring and one-time items (for example, profit from the sale of assets). It is necessary to separate core metrics from one-off events for accurate analysis.
- Companies often publish interim reports (e.g., quarterly), which allows for more timely tracking of trends.
- A combined analysis of the income statement with the balance sheet and cash flow statement provides a comprehensive view of the company’s financial health.
Reports on the profits and losses of other stocks in the Health care industry
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|---|---|---|---|---|---|
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Magellan Health, Inc.
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Anthem
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Molina Healthcare
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Centene Corporation
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CVS Health Corporation
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Humana
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Cigna Corporation
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