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.
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UnitedHealth Group Incorporated (UNH) Operating margin
UnitedHealth Group Incorporated's operating margin over the twelve months to 30 September 2026 was 5.32%, up 1.1 percentage points from fiscal 2025 (4.24%). Over the past ten years it has ranged from 4.24% (fiscal 2025) to 8.77% (fiscal 2022) — the current reading is the lowest in ten years. That is above the Healthcare Plans industry median of 1.93% and above the Healthcare sector median of 0.00%.
Operating margin, annual
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Annual newest first
| Period | Operating margin | Change (points) |
|---|---|---|
| FY2025 | 4.24% | (3.83) |
| FY2024 | 8.07% | (0.64) |
| FY2023 | 8.71% | (0.06) |
| FY2022 | 8.77% | 0.44 |
| FY2021 | 8.33% | (0.38) |
| FY2020 | 8.71% | 0.58 |
| FY2019 | 8.13% | 0.46 |
| FY2018 | 7.67% | 0.11 |
| FY2017 | 7.56% | 0.56 |
| FY2016 | 7.00% | (0.01) |
Quarterly newest first
| Period | Operating margin | Change (points) |
|---|---|---|
| Sep 2026 | 5.82% | (1.31) |
| Jun 2026 | 7.13% | (0.92) |
| Mar 2026 | 8.05% | 7.71 |
| Dec 2025 | 0.34% | (3.47) |
| 43 more quarters | Free account |
Against its own ten years
Operating margin against peers
| Company | Operating margin |
|---|---|
| UNH UnitedHealth Group Incorporated | 5.32% |
| OSCR Oscar Health, Inc. compare | 4.11% |
| ELV Elevance Health, Inc. compare | 3.63% |
| CI Cigna Group compare | 3.53% |
| CVS CVS Health Corporation compare | 2.00% |
| HUM Humana Inc. compare | 1.86% |
| MOH Molina Healthcare, Inc compare | 0.46% |
| CLOV Clover Health Investments, Corp. compare | −0.74% |
| CNC Centene Corporation compare | −2.78% |
| Healthcare Plans industry median | 1.93% |
| Healthcare sector median | 0.00% |
| Market median | 0.00% |
What Operating margin is
EBIT Margin tells an investor how much operating profit, before interest and taxes, a company keeps from each unit of revenue.
EBIT ÷ Revenue
More on UNH
- Revenue
- Net income
- EPS (diluted)
- EBITDA
- Free cash flow
- Operating cash flow
- Gross margin
- Net margin
- Free cash flow margin
- P/E ratio
- P/S ratio
- P/B ratio
- Price to free cash flow
- EV/EBITDA
- EV/Sales
- EV/FCF
- Return on equity
- Return on assets
- Return on invested capital
- Debt to equity
- Current ratio
- Total debt
- Shares outstanding
- Book value per share
- Revenue growth
- Piotroski F-score
- Altman Z-score
- Beneish M-score
- The full statement