UnitedHealth Group Inc. (UNH) financial statements: income statement, balance sheet and cash flow
UnitedHealth Group Inc.'s income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), UnitedHealth Group Inc. reported revenue of $447.6B (+11.8% year on year) and net income of $12.8B (-16.0% year on year).
Income statement
UnitedHealth Group Inc. income statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Premiums
$352.2B
$308.8B
$290.8B
$257.2B
Investment and other income
$3.9B
$5.2B
$4.1B
$2.0B
Total revenues
$447.6B
$400.3B
$371.6B
$324.2B
Revenue from Products and Services
$91.4B
$86.3B
$76.7B
$65.0B
Medical costs
$314.0B
$264.2B
$241.9B
$210.8B
Operating costs
$59.6B
$53.0B
$54.6B
$47.8B
Cost of products sold
$50.7B
$46.7B
$38.8B
$33.7B
Depreciation and amortization
$4.4B
$4.1B
$4.0B
$3.4B
Total operating costs
$428.6B
$368.0B
$339.3B
$295.7B
Earnings from operations
$19.0B
$32.3B
$32.4B
$28.4B
Interest expense
($4.0B)
($3.9B)
($3.2B)
($2.1B)
Loss on sale of subsidiary and subsidiaries held for sale
($265.0M)
($8.3B)
—
—
Total income before income taxes
$14.7B
$20.1B
$29.1B
$26.3B
Provision for income taxes
($1.9B)
($4.8B)
($6.0B)
($5.7B)
Net earnings
$12.8B
$15.2B
$23.1B
$20.6B
Earnings attributable to noncontrolling interests
($751.0M)
($837.0M)
($763.0M)
($519.0M)
Net earnings attributable to UnitedHealth Group common shareholders
$12.1B
$14.4B
$22.4B
$20.1B
Basic
$13.28
$15.64
$24.12
$21.47
Diluted
$13.23
$15.51
$23.86
$21.18
Basic weighted-average number of common shares outstanding
908.0M
921.0M
928.0M
937.0M
Dilutive effect of common share equivalents
3.0M
8.0M
10.0M
13.0M
Diluted weighted-average number of common shares outstanding
911.0M
929.0M
938.0M
950.0M
Anti-dilutive shares excluded from the calculation of dilutive effect of common share equivalents
$12000000.00
$6000000.00
$6000000.00
$3000000.00
UnitedHealth Group Inc. income statement, quarters
Line item
Jun 30, 2026 · Q2
Mar 31, 2026 · Q1
Sep 30, 2025 · Q3
Jun 30, 2025 · Q2
Premiums
$87.0B
$87.6B
$89.0B
$87.9B
Investment and other income
$1.2B
$1.1B
$1.1B
$1.1B
Total revenues
$112.0B
$111.7B
$113.2B
$111.6B
Revenue from Products and Services
$23.9B
$23.0B
$23.1B
$22.6B
Medical Costs
$75.4B
$73.5B
$80.0B
$78.6B
Operating costs
$14.3B
$15.4B
$15.2B
$13.8B
Cost of products sold
$13.4B
$12.8B
$12.6B
$13.0B
Depreciation and amortization
$1.0B
$1.0B
$1.1B
$1.1B
Total operating costs
$104.0B
$102.7B
$108.8B
$106.5B
Earnings from operations
$8.0B
$9.0B
$4.3B
$5.2B
Interest expense
($962.0M)
($955.0M)
($1.0B)
($1.0B)
Loss on sale of subsidiary and subsidiaries held for sale
($61.0M)
($72.0M)
($83.0M)
($41.0M)
Earnings before income taxes
$7.0B
$8.0B
$3.2B
$4.1B
Provision for income taxes
($1.3B)
($1.5B)
($686.0M)
($510.0M)
Net earnings
$5.7B
$6.5B
$2.5B
$3.6B
Earnings attributable to noncontrolling interests
($186.0M)
($201.0M)
($195.0M)
($166.0M)
Net earnings attributable to UnitedHealth Group common shareholders
$5.5B
$6.3B
$2.3B
$3.4B
Basic
$6.06
$6.92
$2.59
$3.76
Diluted
$6.04
$6.90
$2.59
$3.74
Basic weighted-average number of common shares outstanding
902.0M
908.0M
906.0M
907.0M
Dilutive effect of common share equivalents
4.0M
2.0M
2.0M
3.0M
Diluted weighted-average number of common shares outstanding
906.0M
910.0M
908.0M
910.0M
Anti-dilutive shares excluded from the calculation of dilutive effect of common share equivalents
$12000000.00
$18000000.00
$16000000.00
$13000000.00
Balance sheet
UnitedHealth Group Inc. balance sheet, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Cash and cash equivalents
$24.4B
$25.3B
$25.4B
$23.4B
Short-term investments
$3.8B
$3.8B
$4.2B
$4.5B
Accounts receivable, net of allowances of $1,208 and $985
$23.0B
$22.4B
$21.3B
$17.7B
Other current receivables, net of allowances of $3,763 and $2,864
$29.7B
$26.1B
$17.7B
$12.8B
Prepaid expenses and other current assets
$9.7B
$8.2B
$6.1B
$6.6B
Total current assets
$90.6B
$85.8B
$78.4B
$69.1B
Long-term investments
$54.3B
$52.4B
$47.6B
$43.7B
Property, equipment and capitalized software, net of accumulated depreciation and amortization of $7,546 and $6,971
$10.8B
$10.6B
$11.4B
$10.1B
Goodwill
$110.5B
$106.7B
$103.7B
$93.4B
Other intangible assets, net of accumulated amortization of $7,472 and $8,350
$20.5B
$23.3B
$15.2B
$14.4B
Other assets
$23.0B
$19.6B
$17.3B
$15.0B
Total assets
$309.6B
$298.3B
$273.7B
$245.7B
Medical costs payable
$39.3B
$34.2B
$32.4B
$29.1B
Accounts payable and accrued liabilities
$38.0B
$34.3B
$32.0B
$27.7B
Short-term borrowings and current maturities of long-term debt
$6.1B
$4.5B
$4.3B
$3.1B
Unearned revenues
$3.4B
$3.3B
$3.4B
$3.1B
Other current liabilities
$28.0B
$27.3B
$27.1B
$26.3B
Total current liabilities
$114.9B
$103.8B
$99.1B
$89.2B
Long-term debt, less current maturities
$72.3B
$72.4B
$58.3B
$54.5B
Deferred income taxes
$2.4B
$3.6B
$3.0B
$2.8B
Other liabilities
$18.2B
$15.9B
$14.5B
$12.8B
Total liabilities
$207.9B
$195.7B
$174.8B
$159.4B
Redeemable noncontrolling interests
$1.6B
$4.3B
$4.5B
$4.9B
Preferred stock, $0.001 par value - 10 shares authorized; no shares issued or outstanding
0
0
0
0
Common stock, $0.01 par value - 3,000 shares authorized; 906 and 915 issued and outstanding
9.0M
9.0M
9.0M
9.0M
Additional paid-in capital
$559.0M
—
—
—
Retained earnings
$95.6B
$96.0B
$95.8B
$86.2B
Accumulated other comprehensive loss
($2.1B)
($3.4B)
($7.0B)
($8.4B)
Nonredeemable noncontrolling interests
$6.0B
$5.6B
$5.7B
$3.7B
Total equity
$100.1B
$98.3B
$94.4B
$81.5B
Total liabilities and shareholders’ equity
$309.6B
$298.3B
$273.7B
$245.7B
UnitedHealth Group Inc. balance sheet, quarters
Line item
Jun 30, 2026
Mar 31, 2026
Sep 30, 2025
Jun 30, 2025
Cash and cash equivalents
$28.6B
$28.0B
$27.2B
$28.6B
Short-term investments
$2.9B
$3.2B
$3.4B
$3.4B
Accounts receivable, net
$21.6B
$26.6B
$22.7B
$24.1B
Other current receivables, net
$24.7B
$24.6B
$32.8B
$28.6B
Prepaid expenses and other current assets
$9.1B
$8.7B
$9.0B
$9.0B
Total current assets
$86.9B
$91.1B
$95.1B
$93.7B
Long-term investments
$57.7B
$56.8B
$53.0B
$52.5B
Property, equipment and capitalized software, net
$10.8B
$10.7B
$11.1B
$10.9B
Goodwill
$110.6B
$110.5B
$110.3B
$107.7B
Other intangible assets, net
$19.7B
$20.1B
$22.8B
$22.5B
Other assets
$24.0B
$23.5B
$23.0B
$21.3B
Total assets
$309.7B
$312.6B
$315.3B
$308.6B
Medical costs payable
$38.9B
$39.7B
$40.2B
$38.4B
Accounts payable and accrued liabilities
$39.7B
$38.6B
$36.0B
$34.3B
Short-term borrowings and current maturities of long-term debt
$3.8B
$6.5B
$7.7B
$5.7B
Unearned revenues
$3.0B
$3.4B
$3.4B
$3.0B
Other current liabilities
$26.3B
$25.9B
$28.2B
$29.3B
Total current liabilities
$111.8B
$114.1B
$115.5B
$110.8B
Long-term debt, less current maturities
$69.5B
$71.4B
$72.4B
$73.5B
Deferred income taxes
$2.7B
$2.9B
$3.2B
$3.8B
Other liabilities
$19.7B
$18.9B
$18.4B
$15.7B
Total liabilities
$203.8B
$207.3B
$209.5B
$203.8B
Redeemable noncontrolling interests
$1.4B
$1.4B
$4.2B
$4.3B
Preferred stock, $0.001 par value - 10 shares authorized; no shares issued or outstanding
0
0
0
0
Common stock, $0.01 par value - 3,000 shares authorized; 905 and 906 issued and outstanding
9.0M
9.0M
9.0M
9.0M
Additional paid-in capital
$0
$556.0M
$394.0M
—
Retained earnings
$101.0B
$99.9B
$97.6B
$97.3B
Accumulated other comprehensive loss
($2.5B)
($2.6B)
($2.2B)
($2.5B)
Nonredeemable noncontrolling interests
$6.1B
$6.0B
$5.8B
$5.7B
Total equity
$104.5B
$103.9B
$101.6B
$100.5B
Total liabilities, redeemable noncontrolling interests and equity
$309.7B
$312.6B
$315.3B
$308.6B
Preferred stock, par value
$0.00
$0.00
$0.00
$0.00
Preferred stock, shares authorized
10.0M
10.0M
10.0M
10.0M
Preferred stock, shares issued
0
0
0
0
Preferred stock, shares outstanding
0
0
0
0
Common stock, par value
$0.01
$0.01
$0.01
$0.01
Common stock, shares authorized
3.0B
3.0B
3.0B
3.0B
Common stock, shares issued
905.0M
908.0M
906.0M
905.0M
Common stock, shares outstanding
905.0M
908.0M
906.0M
905.0M
Cash flow statement
UnitedHealth Group Inc. cash flow statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Net earnings
$12.8B
$15.2B
$23.1B
$20.6B
Depreciation and amortization
$4.4B
$4.1B
$4.0B
$3.4B
Deferred income taxes
($1.8B)
($296.0M)
($245.0M)
($673.0M)
Share-based compensation
$971.0M
$1.0B
$1.1B
$925.0M
Loss on sale of subsidiary and subsidiaries held for sale
$265.0M
$8.3B
—
—
Net gains on dispositions and other strategic transactions
($910.0M)
($3.3B)
—
—
Other, net
$1.7B
($28.0M)
($505.0M)
($331.0M)
Accounts receivable
($764.0M)
($1.4B)
($3.1B)
($2.5B)
Other assets
($4.6B)
($4.1B)
($2.4B)
($1.4B)
Medical costs payable
$5.8B
$2.5B
$3.5B
$4.1B
Accounts payable and other liabilities
$1.7B
$2.5B
$3.5B
$2.0B
Unearned revenues
$163.0M
($197.0M)
$203.0M
$126.0M
Cash flows from operating activities
$19.7B
$24.2B
$29.1B
$26.2B
Purchases of investments
($17.4B)
($27.3B)
($18.3B)
($18.8B)
Sales of investments
$9.3B
$18.5B
$7.3B
$5.9B
Maturities of investments
$8.4B
$9.3B
$9.2B
$6.1B
Cash paid for acquisitions and other transactions, net of cash assumed
($4.5B)
($13.4B)
($10.1B)
($21.5B)
Purchases of property, equipment and capitalized software
($3.6B)
($3.5B)
($3.4B)
($2.8B)
Loans to care providers - cyberattack
$0
($9.0B)
—
—
Repayments of care provider loans - cyberattack
$1.7B
$4.5B
—
—
Cash received from dispositions, net
$561.0M
$2.0B
$685.0M
$3.4B
Originations and purchases of loans
($4.8B)
—
—
—
Repayments and maturities of loans
$2.0B
—
—
—
Other, net
($341.0M)
($1.7B)
($960.0M)
($793.0M)
Cash flows used for investing activities
($8.7B)
($20.5B)
($15.6B)
($28.5B)
Common share repurchases
($5.5B)
($9.0B)
($8.0B)
($7.0B)
Cash dividends paid
($7.9B)
($7.5B)
($6.8B)
($6.0B)
Proceeds from common stock issuances
$827.0M
$1.8B
$1.4B
$1.3B
Repayments of long-term debt
($3.0B)
($3.0B)
($2.1B)
($3.0B)
Proceeds from (repayments of) short-term borrowings, net
$807.0M
($151.0M)
$11.0M
$732.0M
Proceeds from issuance of long-term debt
$3.0B
$17.8B
$6.4B
$14.8B
Customer funds administered
$366.0M
($1.6B)
($521.0M)
$5.5B
Purchases of redeemable noncontrolling interests
($165.0M)
($280.0M)
($730.0M)
($176.0M)
Other, net
$63.0M
($1.6B)
($1.1B)
($1.9B)
Cash flows used for financing activities
($11.6B)
($3.5B)
($11.5B)
$4.2B
Effect of exchange rate changes on cash and cash equivalents
$40.0M
($61.0M)
$97.0M
$34.0M
(Decrease) increase in cash and cash equivalents, including cash within businesses held for sale
($592.0M)
$104.0M
—
—
Less: net increase in cash within businesses held for sale
($355.0M)
($219.0M)
—
—
Net (decrease) increase in cash and cash equivalents
($947.0M)
($115.0M)
$2.1B
$2.0B
Cash and cash equivalents, beginning of period
$25.3B
$25.4B
$23.4B
$21.4B
Cash and cash equivalents, end of period
$24.4B
$25.3B
$25.4B
$23.4B
Cash paid for interest
$4.0B
$3.6B
$3.0B
$1.9B
Cash paid for income taxes
$3.7B
$4.6B
$6.1B
$5.2B
UnitedHealth Group Inc. cash flow statement, quarters
Line item
Jun 30, 2026 · YTD
Mar 31, 2026 · Q1
Sep 30, 2025 · YTD
Jun 30, 2025 · YTD
Net earnings
$12.2B
$6.5B
$12.6B
$10.0B
Depreciation and amortization
$2.1B
$1.0B
$3.2B
$2.1B
Deferred income taxes
$411.0M
$540.0M
($1.0B)
($87.0M)
Share-based compensation
$624.0M
$348.0M
$795.0M
$572.0M
Loss on sale of subsidiary and subsidiaries held for sale
$133.0M
$72.0M
$139.0M
$56.0M
Other, net
($235.0M)
($304.0M)
$64.0M
$127.0M
Accounts receivable
$1.5B
($3.5B)
$65.0M
($1.7B)
Other assets
$3.0B
$2.9B
($3.1B)
($2.1B)
Medical costs payable
($420.0M)
$296.0M
$6.2B
$4.4B
Accounts payable and other liabilities
$1.2B
$1.1B
($417.0M)
($480.0M)
Unearned revenues
($422.0M)
$20.0M
$56.0M
($282.0M)
Cash flows from operating activities
$20.0B
$8.9B
$18.6B
$12.6B
Purchases of investments
($10.1B)
($6.5B)
($12.8B)
($8.2B)
Sales of investments
$2.7B
$1.9B
$7.9B
$5.2B
Maturities of investments
$4.7B
$2.3B
$6.5B
$4.3B
Cash paid for acquisitions and other transactions, net of cash assumed
($98.0M)
$0
($4.4B)
($734.0M)
Purchases of property, equipment and capitalized software
($1.6B)
($763.0M)
($2.7B)
($1.8B)
Repayments of care provider loans - cyberattack
$197.0M
$82.0M
$1.5B
$1.3B
Originations And Purchases Of Loans
($2.7B)
($1.2B)
—
—
Repayments and maturities of loans
$1.4B
$699.0M
—
—
Cash received from dispositions and other strategic transactions, net
$1.1B
$1.1B
—
—
Other, net
$199.0M
$21.0M
($2.2B)
($1.6B)
Cash flows used for investing activities
($4.2B)
($2.4B)
($6.1B)
($1.5B)
Common share repurchases
($1.6B)
$0
($5.5B)
($5.5B)
Cash dividends paid
($4.1B)
($2.0B)
($5.9B)
($3.9B)
Proceeds from common stock issuances
$359.0M
$231.0M
$803.0M
$581.0M
Repayments of long-term debt
($2.5B)
($1.5B)
($2.0B)
$0
Repayments of short-term borrowings, net
($2.3B)
$1.1B
$1.5B
($1.4B)
Proceeds from Issuance of Long-Term Debt
$0
—
$3.0B
$3.0B
Customer funds administered
$332.0M
$600.0M
($1.8B)
($25.0M)
Other, net
($1.8B)
($1.4B)
($603.0M)
($513.0M)
Cash flows used for financing activities
($11.6B)
($3.0B)
($10.6B)
($7.8B)
Effect of exchange rate changes on cash and cash equivalents
($3.0M)
($7.0M)
$25.0M
$29.0M
Increase in cash and cash equivalents, including cash within businesses held for sale
$4.1B
$3.5B
$1.9B
$3.3B
Less: net change in cash within businesses held for sale