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UnitedHealth Group UNH Q2 2025 earnings

Reported July 29, 2025 · Before market open

Revenue$111.62BBeat by $92.7M
EPS$4.08Miss by $0.37
Revenue estimate$111.52B
EPS estimate$4.45

Next report

Oct 13, 2026 (In 1 week)
Revenue estimate$111.31B
EPS estimate$4.12

Financials

Q2 2025

Income statement

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Revenue$111.62B+12.9%
Gross profit$98.6B+12.7%
Operating income$5.2B-34.6%
Net income$3.4B-19.2%
EPS (diluted)$3.74-17.6%

Balance sheet

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Cash & equivalents$28.6B+8.8%
Total debt$79.2B+5.5%
Total equity$100.47B+6.1%
Total assets$308.57B+7.9%

Cash flow

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Operating cash flow$7.2B+6.6%
CapEx$886.0M+3.9%
Free cash flow$6.3B+6.9%

Valuation & ratios

Valuation

as of 06/30/25
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Market cap$277.24B-40.9%
Enterprise value$327.84B-36.7%
P/E13×-20.2×
P/S0.7×-0.6×

Profitability

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Gross margin88.2%-0.9pp
Operating margin7.3%-1.0pp
Net margin5%+1.4pp
FCF margin6%—

Returns & leverage

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Return on equity21.8%+6.3pp
Debt / equity0.8×0.0×
Current ratio0.8×0.0×

Segments

By segment

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UnitedHealthcare$86.1B+16.6%
Optum Rx$38.5B+18.6%
Optum Insight$5.2B+15.2%

By product

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Services$9.0B+3.3%

FAQ

When did UnitedHealth Group report Q2 2025 earnings?
UnitedHealth Group (UNH) reported Q2 2025 earnings on July 29, 2025 before market open.
What were UnitedHealth Group's Q2 2025 revenue and EPS?
UnitedHealth Group reported revenue of $111.62B and eps of $4.08 for Q2 2025.
Did UnitedHealth Group beat estimates in Q2 2025?
Revenue beat the consensus estimate of $111.52B by $92.7M. EPS missed the consensus estimate of $4.45 by $0.37.
How did UnitedHealth Group's Q2 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 14.1% from $97.9B a year earlier and eps declined 40.0% from $6.80.
Where can I find UnitedHealth Group's Q2 2025 SEC filings?
You can read the 8-K earnings release (0000731766-25-000228) and the 10-Q periodic report (0000731766-25-000236) directly on SEC EDGAR. The filing index links above go to sec.gov.