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UnitedHealth Group UNH Q3 2025 earnings

Reported October 28, 2025 · Before market open

Revenue$113.16BBeat by $133.1M
EPS$2.92Beat by $0.12
Revenue estimate$113.03B
EPS estimate$2.80

Next report

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

Financials

Q3 2025

Income statement

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Revenue$113.16B+12.2%
Gross profit$100.60B+13.0%
Operating income$4.3B-50.4%
Net income$2.3B-61.2%
EPS (diluted)$2.59-60.2%

Balance sheet

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Cash & equivalents$27.2B-16.0%
Total debt$80.1B+2.7%
Total equity$101.57B+1.7%
Total assets$315.27B+5.3%

Cash flow

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Operating cash flow$5.9B-57.4%
CapEx$890.0M-10.2%
Free cash flow$5.1B-61.0%

Valuation & ratios

Valuation

as of 09/30/25
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Market cap$312.73B-41.9%
Enterprise value$365.66B-37.4%
P/E17.8×-19.8×
P/S0.7×-0.6×

Profitability

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Gross margin88.4%-0.3pp
Operating margin6.1%-2.1pp
Net margin4%+0.4pp
FCF margin4%—

Returns & leverage

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Return on equity17.5%+2.3pp
Debt / equity0.8×0.0×
Current ratio0.8×-0.1×

Segments

By segment

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UnitedHealthcare$87.1B+16.3%
Optum Rx$39.7B+16.0%
Optum Insight$4.9B-0.3%

By product

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Services$9.8B+7.1%

FAQ

When did UnitedHealth Group report Q3 2025 earnings?
UnitedHealth Group (UNH) reported Q3 2025 earnings on October 28, 2025 before market open.
What were UnitedHealth Group's Q3 2025 revenue and EPS?
UnitedHealth Group reported revenue of $113.16B and eps of $2.92 for Q3 2025.
Did UnitedHealth Group beat estimates in Q3 2025?
Revenue beat the consensus estimate of $113.03B by $133.1M. EPS beat the consensus estimate of $2.80 by $0.12.
How did UnitedHealth Group's Q3 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 14.1% from $99.2B a year earlier and eps declined 59.2% from $7.15.
Where can I find UnitedHealth Group's Q3 2025 SEC filings?
You can read the 8-K earnings release (0000731766-25-000301) and the 10-Q periodic report (0000731766-25-000305) directly on SEC EDGAR. The filing index links above go to sec.gov.