UnitedHealth Group Incorporated is an American multinational managed healthcare and insurance company. It operates through two primary segments: UnitedHealthcare, which provides health insurance and benefits, and Optum, which offers technology-enabled health services, care delivery, and pharmacy benefit management. As the largest healthcare company in the world by revenue, it holds a dominant position in the U.S. health insurance market.
Financial Statements
In thousands, USD
FY 2025
FY 2024
FY 2023
FY 2022
Net Premiums Earned
352,229,000
308,810,000
290,827,000
257,157,000
Investment Income
3,920,000
5,202,000
4,089,000
2,030,000
Total Other Revenues
91,418,000
86,266,000
76,706,000
64,975,000
Total Revenues
447,567,000
400,278,000
371,622,000
324,162,000
Insurance Benefits & Claims
313,995,000
264,185,000
241,894,000
210,842,000
Other Operating Expenses
114,608,000
103,806,000
97,370,000
84,885,000
Operating Profit
18,964,000
32,287,000
32,358,000
28,435,000
Interest Expense
(4,002,000)
(3,906,000)
(3,246,000)
(2,092,000)
Non-Operating Income
(265,000)
(8,310,000)
—
—
Total Non-Operating Income
(4,267,000)
(12,216,000)
(3,246,000)
(2,092,000)
Income Before Provision for Income Taxes
14,697,000
20,071,000
29,112,000
26,343,000
Provision for Income Taxes
1,890,000
4,829,000
5,968,000
5,704,000
Consolidated Net Income
12,807,000
15,242,000
23,144,000
20,639,000
Net Income Attributable to Minority Interests and Other
751,000
837,000
763,000
—
Net Income Attributable to Common Shareholders
12,056,000
14,405,000
22,381,000
20,639,000
Basic EPS
13.28
15.64
24.12
21.47
Diluted EPS
13.23
15.51
23.86
21.18
Basic Weighted Average Shares Outstanding
908,000
921,000
928,000
937,000
Diluted Weighted Average Shares Outstanding
911,000
929,000
938,000
950,000
Shares Outstanding
906,000
915,000
924,000
934,000
FY 2025
FY 2024
FY 2023
FY 2022
Other Investments
58,007,000
56,155,000
51,810,000
48,274,000
Total Investments
58,007,000
56,155,000
51,810,000
48,274,000
Cash and Cash Equivalents
24,365,000
25,312,000
25,427,000
23,365,000
Other Receivables
52,715,000
48,454,000
38,970,000
30,450,000
Net Property, Plant & Equipment
10,762,000
10,553,000
11,450,000
10,128,000
Net Intangible Assets
20,474,000
23,268,000
15,194,000
14,401,000
Goodwill
110,499,000
106,734,000
103,732,000
93,352,000
Other Assets
32,759,000
27,802,000
27,137,000
25,735,000
Total Assets
309,581,000
298,278,000
273,720,000
245,705,000
Unearned Premiums
3,413,000
3,317,000
3,355,000
3,075,000
Claims Reserves
39,337,000
34,224,000
32,395,000
29,056,000
Accounts Payable
38,032,000
34,337,000
31,958,000
27,715,000
Total Debt
78,389,000
76,904,000
62,537,000
57,623,000
Other Liabilities
48,712,000
46,905,000
44,556,000
41,889,000
Total Liabilities
207,883,000
195,687,000
174,801,000
159,358,000
Common Stock
9,000
9,000
9,000
9,000
Additional Paid-in Capital
559,000
—
—
—
Accumulated Other Comprehensive Income
(2,061,000)
(3,387,000)
(7,027,000)
(8,393,000)
Retained Earnings
95,603,000
96,036,000
95,774,000
86,156,000
Total Common Shareholders' Equity
94,110,000
92,658,000
88,756,000
77,772,000
Minority Interests and Other
7,588,000
9,933,000
10,163,000
8,575,000
Total Shareholders' Equity
101,698,000
102,591,000
98,919,000
86,347,000
Total Liabilities and Shareholders' Equity
309,581,000
298,278,000
273,720,000
245,705,000
FY 2025
FY 2024
FY 2023
FY 2022
Net Income
12,807,000
15,242,000
23,144,000
20,639,000
Depreciation & Amortization
4,361,000
4,099,000
3,972,000
3,400,000
Share-Based Compensation Expense
971,000
1,018,000
1,059,000
925,000
Other Adjustments
(724,000)
4,653,000
(750,000)
(1,004,000)
Changes in Receivables
(764,000)
(1,437,000)
(3,114,000)
(2,523,000)
Changes in Accounts Payable
1,665,000
2,463,000
3,516,000
1,964,000
Changes in Unearned Premiums
163,000
(197,000)
203,000
126,000
Changes in Claims Reserves
5,824,000
2,503,000
3,482,000
4,053,000
Changes in Other Operating Activities
(4,606,000)
(4,140,000)
(2,444,000)
(1,374,000)
Cash from Operating Activities
19,697,000
24,204,000
29,068,000
26,206,000
Capital Expenditure
(3,622,000)
(3,499,000)
(3,386,000)
(2,802,000)
Purchases of Investments
(17,373,000)
(27,308,000)
(18,314,000)
(18,825,000)
Proceeds from Sale of Investments
17,734,000
27,833,000
16,537,000
11,988,000
Payments for Business Acquisitions
(4,509,000)
(13,408,000)
(10,136,000)
(21,458,000)
Proceeds from Business Divestments
561,000
2,041,000
685,000
3,414,000
Other Investing Activities
(1,476,000)
(6,186,000)
(960,000)
(793,000)
Cash from Investing Activities
(8,685,000)
(20,527,000)
(15,574,000)
(28,476,000)
Issuance of Short-Term Debt
807,000
(151,000)
11,000
732,000
Net Issuance / (Repayments) of Short-Term Debt
807,000
(151,000)
11,000
732,000
Issuance of Long-Term Debt
2,969,000
17,811,000
6,394,000
14,819,000
Repayments of Long-Term Debt
(3,050,000)
(3,000,000)
(2,125,000)
(3,015,000)
Net Issuance / (Repayments) of Long-Term Debt
(81,000)
14,811,000
4,269,000
11,804,000
Issuance of Common Shares
827,000
1,846,000
1,353,000
1,253,000
Repurchases of Common Shares
(5,545,000)
(9,000,000)
(8,000,000)
(7,000,000)
Net Issuance / (Repurchases) of Common Shares
(4,718,000)
(7,154,000)
(6,647,000)
(5,747,000)
Common Share Dividends Paid
(7,916,000)
(7,533,000)
(6,761,000)
(5,991,000)
Other Financing Activities
264,000
(3,485,000)
(2,401,000)
3,428,000
Cash from Financing Activities
(11,644,000)
(3,512,000)
(11,529,000)
4,226,000
Effect of Exchange Rate Changes on Cash and Cash Equivalents
40,000
(61,000)
97,000
34,000
Increase / (Decrease) in Cash, Cash Equivalents and Restricted Cash