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Saturday 17 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 September 2026, revenue was flat, EPS grew 61.5%, free cash flow fell 15.7% and total debt fell 5.09%, 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.

401.43 5.24 −1.29%
Market cap
$365.0B
P/E
25.8×
Fwd P/E
23.3×
Dividend yield
2.26%
F-score
6/9
Altman Z
2.84
Beneish M
−2.41
Dividend safety
76/100
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios Filings 10-Q 10-K

UnitedHealth Group Incorporated (UNH) Gross margin

Alert me on Gross margin

UnitedHealth Group Incorporated's gross margin over the twelve months to 30 September 2026 was 40.0%, up 21.5 percentage points from fiscal 2025 (18.5%). Over the past ten years it has ranged from 18.5% (fiscal 2025) to 26.1% (fiscal 2020) — the current reading is the lowest in ten years. That is above the Healthcare Plans industry median of 19.4% and below the Healthcare sector median of 53.5%.

Gross margin, annual

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Annual newest first

Period Gross margin Change (points)
FY2025 18.5% (3.80)
FY2024 22.3% (2.15)
FY2023 24.5% (0.08)
FY2022 24.6% 0.34
FY2021 24.2% (1.84)
FY2020 26.1% 2.27
FY2019 23.8% (0.01)
FY2018 23.8% 0.43
FY2017 23.4% (0.10)
FY2016 23.5% (0.10)

Quarterly newest first

Period Gross margin Change (points)
Sep 2026 100.0% 79.20
Jun 2026 20.8% (1.94)
Mar 2026 22.7% 6.40
Dec 2025 16.3% (1.90)
43 more quarters

Against its own ten years

Low 18.5% High 26.1%
Ten-year median 23.8%
Current reading's percentile 100

Gross margin against peers

Company Gross margin
CI Cigna Group compare 88.5%
CVS CVS Health Corporation compare 44.5%
UNH UnitedHealth Group Incorporated 40.0%
OSCR Oscar Health, Inc. compare 20.2%
CLOV Clover Health Investments, Corp. compare 18.6%
ELV Elevance Health, Inc. compare 15.1%
HUM Humana Inc. compare 13.7%
MOH Molina Healthcare, Inc compare 12.7%
CNC Centene Corporation compare 7.82%
Healthcare Plans industry median 19.4%
Healthcare sector median 53.5%
Market median 46.2%

What Gross margin is

Gross Margin tells an investor how much of each sale a company keeps after paying the direct costs of making or buying what it sells.

Gross Profit ÷ Revenue

The full definition of Gross margin →

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