UnitedHealth Group Inc.
Income Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $447.57B | $400.30B | $371.63B | $324.14B | $287.60B | $257.14B | $242.16B | $226.23B |
| UnitedHealthcare | $344.90B | $298.20B | $281.38B | $249.73B | $222.88B | $200.87B | $193.84B | $178.10B |
| Optum Health | $102.00B | $102.50B | $95.31B | $71.04B | $54.12B | $39.79B | $30.27B | $24.08B |
| Optum Insight | $19.40B | $19.80B | $18.88B | $14.58B | $12.19B | $10.78B | $10.03B | $8.98B |
| Optum Rx | $154.70B | $125.40B | $116.14B | $99.80B | $91.17B | $87.49B | $74.28B | $69.47B |
| Eliminations & Other | $-173.43B | $-145.60B | $-140.08B | $-111.01B | $-92.76B | $-81.79B | $-66.26B | $-54.40B |
| Cost of Revenue | $50.66B | $46.69B | $38.77B | $33.70B | $31.03B | $30.75B | $28.12B | $27.00B |
| Gross Profit | $396.92B | $353.61B | $332.86B | $290.44B | $256.57B | $226.40B | $214.04B | $199.23B |
| Gross Margin | 88.7% | 88.3% | 89.6% | 89.6% | 89.2% | 88.0% | 88.4% | 88.1% |
| Operating Expenses | ||||||||
| Research & Development | — | — | — | — | — | — | — | — |
| SG&A Expense | $59.59B | $53.01B | $54.63B | $47.78B | $42.58B | $41.70B | $35.19B | $34.07B |
| Operating Income | $18.96B | $32.29B | $32.36B | $28.44B | $23.97B | $22.41B | $19.69B | $17.34B |
| Operating Margin | 4.2% | 8.1% | 8.7% | 8.8% | 8.3% | 8.7% | 8.1% | 7.7% |
| Interest Expense | $4.00B | $3.91B | $3.25B | $2.09B | $1.66B | $1.66B | $1.70B | $1.40B |
| Pretax Income | $14.70B | $20.07B | $29.11B | $26.34B | $22.31B | $20.74B | $17.98B | $15.94B |
| Income Tax Expense | $1.89B | $4.83B | $5.97B | $5.70B | $4.58B | $4.97B | $3.74B | $3.56B |
| Net Income | $12.06B | $14.41B | $22.38B | $20.12B | $17.29B | $15.40B | $13.84B | $11.99B |
| Net Margin | 2.7% | 3.6% | 6.0% | 6.2% | 6.0% | 6.0% | 5.7% | 5.3% |
| EPS (Basic) | $13.28 | $15.64 | $24.12 | $21.47 | $18.33 | $16.23 | $14.55 | $12.45 |
| EPS (Diluted) | $13.23 | $15.51 | $23.86 | $21.18 | $18.08 | $16.03 | $14.33 | $12.19 |
| Shares Outstanding (Basic) | 908.0M | 921.0M | 928.0M | 937.0M | 943.0M | 949.0M | 951.0M | 963.0M |
| Shares Outstanding (Diluted) | 911.0M | 929.0M | 938.0M | 950.0M | 956.0M | 961.0M | 966.0M | 983.0M |
| Dividends Per Share | $8.73 | $8.18 | $7.29 | $6.40 | $5.60 | $4.83 | $4.14 | $3.45 |