Wednesday 14 October 2026
Export UNH’s income statement to Excel — free account
UnitedHealth Group Incorporated
UNH Healthcare Healthcare Plans
UnitedHealth Group Incorporated’s revenue for fiscal 2025 (year ended December 2025) was $447.6 billion, up 11.8% from fiscal 2024. In the quarter to June 2026, revenue was flat, EPS grew 61.5%, free cash flow grew 62.7% and total debt fell 5.43%, each against the same quarter a year earlier. Member of the S&P 500 and Dow Jones; dividend growth for twenty-five consecutive years, revenue growth for ten.
377.76
0.76
−0.20%
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| Dec '25 | Dec '24 | Dec '23 | Dec '22 | Dec '21 | Dec '20 | Dec '19 | Dec '18 | Dec '17 | Dec '16 | |
|---|---|---|---|---|---|---|---|---|---|---|
P/E ratio |
25.03 | 32.64 | 22.62 | 24.48 | 27.77 | 21.88 | 20.52 | 20.44 | 20.65 | 21.61 |
Piotroski F-Score |
6 | 5 | 7 | 7 | 8 | 7 | 6 | 7 | 6 | 6 |
Altman Z-Score |
2.84 | 3.48 | 3.78 | 3.91 | 4.21 | 3.60 | 3.61 | 3.73 | 3.61 | 3.25 |
P/S ratio |
0.67 | 1.16 | 1.35 | 1.50 | 1.65 | 1.29 | 1.15 | 1.06 | 1.06 | 0.83 |
P/FCF ratio |
18.65 | 22.50 | 19.49 | 20.76 | 23.81 | 16.54 | 17.06 | 17.58 | 18.42 | 19.00 |
Altman Z″-Score (non-manufacturers) |
1.40 | 1.90 | 1.99 | 1.90 | 2.01 | 1.84 | 1.74 | 1.92 | 1.83 | 1.45 |
Beneish M-Score |
(2.41) | (2.37) | (1.60) | (2.89) | (2.46) | (2.53) | (2.43) | (2.45) | (2.52) | (2.42) |
P/Operating CF |
270.52 | 196.66 | (96.38) | (107.21) | 147.15 | 54.55 | 45.06 | 100.13 | (82.73) | (109.08) |
Dividend Safety Score |
76 | — | — | — | — | — | — | — | — | — |
P/B ratio |
2.99 | 4.74 | 5.30 | 5.97 | 6.31 | 4.87 | 4.63 | 4.42 | 4.28 | 4.03 |
Price to Tangible BV |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
EV/Sales |
0.77 | 1.27 | 1.42 | 1.58 | 1.71 | 1.37 | 1.25 | 1.15 | 1.13 | 0.90 |
EV/EBITDA |
14.75 | 13.99 | 14.56 | 16.10 | 18.17 | 13.90 | 13.49 | 13.16 | 12.98 | 11.09 |
EV/Operating CF |
17.46 | 21.04 | 18.20 | 19.56 | 22.02 | 15.86 | 16.36 | 16.56 | 16.66 | 16.97 |
EV/FCF |
21.40 | 24.59 | 20.60 | 21.90 | 24.74 | 17.48 | 18.43 | 19.06 | 19.58 | 20.54 |
Quick Ratio |
0.70 | 0.75 | 0.69 | 0.51 | 0.66 | 0.62 | 0.58 | 0.61 | 0.62 | 0.59 |
Current Ratio |
0.79 | 0.83 | 0.79 | 0.77 | 0.79 | 0.74 | 0.69 | 0.73 | 0.73 | 0.69 |
Net Debt/EBITDA |
1.89 | 1.19 | 0.79 | 0.84 | 0.68 | 0.75 | 1.01 | 1.02 | 0.76 | 0.83 |
Debt/Assets |
23.36% | 24.26% | 21.29% | 22.19% | 19.97% | 19.59% | 21.17% | 22.72% | 20.74% | 20.99% |
Debt/Equity |
0.72 | 0.74 | 0.62 | 0.67 | 0.56 | 0.57 | 0.61 | 0.64 | 0.58 | 0.68 |
Asset Turnover |
1.47 | 1.40 | 1.43 | 1.42 | 1.40 | 1.39 | 1.49 | 1.55 | 1.54 | 1.58 |
Operating CF/Net income |
1.63 | 1.68 | 1.30 | 1.30 | 1.29 | 1.44 | 1.33 | 1.31 | 1.29 | 1.40 |
Capex/Depreciation |
(0.83) | (0.85) | (0.85) | (0.82) | (0.79) | (0.71) | (0.76) | (0.85) | (0.90) | (0.83) |
Interest Coverage |
4.74 | 8.27 | 9.97 | 13.59 | 14.44 | 13.47 | 11.55 | 12.39 | 12.82 | 12.12 |
| 12.16% | 14.95% | 25.45% | 25.71% | 24.11% | 23.92% | 24.12% | 23.02% | 23.99% | 19.52% | |
| 3.97% | 5.04% | 8.62% | 8.79% | 8.44% | 8.30% | 8.49% | 8.23% | 8.06% | 6.00% | |
ROIC |
8.21% | 14.26% | 16.43% | 16.45% | 16.02% | 16.06% | 14.82% | 14.54% | 15.05% | 15.95% |
Return on Tangible Assets |
(88.95%) | (193.69%) | (244.15%) | (200.40%) | (228.49%) | (152.87%) | (132.51%) | (197.82%) | (165.85%) | (74.08%) |
Average Days of Receivables |
42.99 | 44.18 | 38.28 | 19.91 | 35.64 | 36.06 | 32.35 | 29.44 | 28.72 | 30.91 |
Research and Development Expense of Revenue |
0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Selling, General and Administrative Expense of Revenue |
0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Intangible Assets out of Total Assets |
0.42 | 0.44 | 0.43 | 0.44 | 0.40 | 0.42 | 0.44 | 0.45 | 0.45 | 0.46 |
Share Based Compensation of Revenue |
0.22% | 0.25% | 0.28% | 0.29% | 0.28% | 0.26% | 0.29% | 0.28% | 0.30% | 0.26% |
Graham Net Nets |
(0.40) | (0.25) | (0.20) | (0.20) | (0.16) | (0.23) | (0.25) | (0.25) | (0.24) | (0.33) |
Graham Number |
180.87 | 192.90 | 233.62 | 203.58 | 179.93 | 161.15 | 143.14 | 124.38 | 111.61 | 82.10 |
Earnings Yield |
4.00% | 3.06% | 4.42% | 4.09% | 3.60% | 4.57% | 4.87% | 4.89% | 4.84% | 4.63% |
Free Cash Flow Yield |
5.36% | 4.44% | 5.13% | 4.82% | 4.20% | 6.05% | 5.86% | 5.69% | 5.43% | 5.26% |
Revenue per Share |
492.92 | 434.61 | 400.45 | 345.96 | 304.98 | 270.96 | 254.63 | 234.94 | 208.67 | 194.16 |
Operating CF per Share |
21.69 | 26.28 | 31.32 | 27.97 | 23.69 | 23.37 | 19.41 | 16.32 | 14.10 | 10.29 |
Capex per Share |
(3.99) | (3.80) | (3.65) | (2.99) | (2.60) | (2.16) | (2.18) | (2.14) | (2.10) | (1.79) |
Free Cash Flow per Share |
17.70 | 22.48 | 27.67 | 24.98 | 21.09 | 21.20 | 17.24 | 14.17 | 12.01 | 8.50 |
Cash per Share |
30.97 | 31.61 | 31.93 | 29.79 | 25.35 | 20.84 | 14.98 | 14.87 | 16.07 | 13.94 |
Shareholders Equity per Share |
110.23 | 106.70 | 101.75 | 86.93 | 79.58 | 72.00 | 63.55 | 56.41 | 51.69 | 40.10 |
Interest Debt per Share |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Book value per Share |
110.23 | 106.70 | 101.75 | 86.93 | 79.58 | 72.00 | 63.55 | 56.41 | 51.69 | 40.10 |
Free Cash Flow |
16,075.00 | 20,705.00 | 25,682.00 | 23,404.00 | 19,889.00 | 20,123.00 | 16,392.00 | 13,650.00 | 11,573.00 | 8,090.00 |
Working Capital |
(24,315.00) | (17,990.00) | (20,617.00) | (20,168.00) | (16,534.00) | (18,702.00) | (19,148.00) | (14,517.00) | (13,379.00) | (15,373.00) |
Capital Expenditures |
(3,622.00) | (3,499.00) | (3,386.00) | (2,802.00) | (2,454.00) | (2,051.00) | (2,071.00) | (2,063.00) | (2,023.00) | (1,705.00) |
Net Current Asset Value |
(118,909.00) | (114,231.00) | (100,862.00) | (95,186.00) | (75,403.00) | (75,243.00) | (70,819.00) | (59,210.00) | (52,141.00) | (50,754.00) |
EV/EBIT |
18.14 | 15.77 | 16.35 | 18.03 | 20.53 | 15.70 | 15.35 | 15.00 | 14.90 | 12.85 |
Capex to Sales |
0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 |
Price to Operating Income |
15.81 | 14.43 | 15.47 | 17.09 | 19.75 | 14.85 | 14.20 | 13.83 | 14.02 | 11.89 |
| Other line items | ||||||||||
Depreciation/Fixed assets |
0.41 | 0.39 | 0.35 | 0.34 | 0.35 | 0.34 | 0.31 | 0.29 | 0.32 | 0.35 |
Cash ROIC |
8.02% | 10.37% | 14.09% | 14.28% | 14.07% | 15.88% | 14.70% | 13.22% | 12.29% | 10.48% |
Accounts Receivable Turnover |
8.85 | 9.16 | 13.12 | 14.17 | 10.75 | 10.97 | 12.20 | 13.28 | 12.78 | 12.76 |
Accounts Payable Turnover |
10.08 | 9.38 | 9.41 | 9.34 | 9.25 | 9.16 | 10.34 | 10.81 | 10.80 | 11.16 |
Inventory Turnover |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Average Days of Payables |
38.07 | 40.31 | 41.56 | 41.37 | 41.27 | 43.18 | 37.59 | 35.37 | 35.94 | 34.48 |
Days of Inventory on Hand |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Average Receivables |
50,584.50 | 43,712.00 | 28,325.50 | 22,881.50 | 26,743.00 | 23,433.00 | 19,856.00 | 17,040.00 | 15,740.50 | 14,487.50 |
Average Payables |
36,184.50 | 33,147.50 | 29,836.50 | 26,179.00 | 23,569.00 | 20,750.00 | 17,855.00 | 15,942.50 | 14,270.50 | 12,677.50 |
Average Assets |
303,929.50 | 285,999.00 | 259,712.50 | 228,955.50 | 204,747.50 | 185,589.00 | 163,055.00 | 145,639.50 | 130,934.00 | 117,032.00 |
Average Common Equity |
99,179.00 | 96,344.50 | 87,935.50 | 78,247.50 | 71,686.50 | 64,382.00 | 57,377.50 | 52,076.00 | 44,005.00 | 35,951.00 |
Columns are period end dates