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UnitedHealth Group logo

UnitedHealth Group Income Statement

Revenue, expenses, and profitability over time

UnitedHealth Group generated $449.71B in trailing twelve-month revenue, up 0.1% year-over-year. Net income was $12.0B with a 2.68% net margin. Gross margin stands at 88.64% and operating margin at 4.19%. Diluted EPS is $13.25, which declined 0.4% year-over-year. Based on the Q1 2026 filing.

Total Revenue (TTM)$449.71BGross Profit (TTM)$398.63BOperating Income (TTM)$18.8BNet Income (TTM)$12.0BEps Diluted (TTM)$13.25
Latest FilingQ1 2026
Report Date2026-05-05
Market Cap$368.30B
P/E Ratio30.58
ROE11.77%

Earnings Per Share

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Weighted Average Diluted Shares Adjustment—$6M$3M$2M—$2M
Basic earnings per share$6.03$6.90$3.76$2.59$0.01$6.92
Diluted earnings per share$5.98$6.85$3.74$2.59$0.02$6.90
Weighted Average Diluted Shares Adjustment—$6M$3M$2M—$2M
Antidilutive Securities Excluded from EPS6M6M13M16M12M18M
Weighted average number diluted shares outstanding adjustment—$6M$3M$2M—$2M
Weighted-average shares, basic921M912M907M906M908M908M
Weighted-average shares, diluted929M918M910M908M911M910M

Other Income & Expense

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Investment Income, Interest and Dividend$1.6B$1B$1.1B$1.1B$647M$1.1B
Interest expense$1B$998M$1B$1B$974M$955M

Operating Expenses

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Depreciation and amortization$1B$1.1B$1.1B$1.1B$1.1B$1B
Loss on sale of subsidiaries$0-$15M-$41M-$83M-$126M-$72M
Selling, general and administrative$12.5B$13.6B$13.8B$15.2B$17B$15.4B
Total operating expenses$93B$100.5B$106.5B$108.8B$112.8B$102.7B

Operating Income

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Gross profit$88.3B$97.2B$98.6B$100.6B$100.5B$98.9B
Operating income$7.8B$9.1B$5.2B$4.3B$380M$9B

Income Before Tax

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Income before income taxes$6.8B$8.1B$4.1B$3.2B$0$8B

Tax

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Income tax expense$1B$1.6B$510M$686M—$1.5B

Net Income

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Net income$5.5B$6.3B$3.4B$2.3B$10M$6.3B

Revenue

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Net premiums earned$76.5B$86.5B$87.9B$89B$88.8B$87.6B
Investment and other income$1.6B$1B$1.1B$1.1B$647M$1.1B
Total revenue$100.8B$109.6B$111.6B$113.2B$113.2B$111.7B
Investment and other income$1.6B$1B$1.1B$1.1B$647M$1.1B

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Stock options excluded as their inclusion would be anti-dilutive (in shares)—$6M$13M$16M—$18M
Loss on sale of subsidiary and subsidiaries held for sale$0-$15M-$41M-$83M-$126M-$72M
Add: dilutive effect of potential common shares (in shares)—$6M$3M$2M—$2M

Cost of Revenue

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Total cost of revenue$12.5B$12.4B$13B$12.6B$12.7B$12.8B
Medical costs$67B$73.4B$78.6B$80B$82B$73.5B