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UnitedHealth UNH

US equityMarket cap rank #41
$372.23
+$0.94 (+0.25%)
Market open · Sep 24, 1:10 pm ET
After hours $371.00 -0.08%
Open$371.51
Prev close$371.29
Day range$368.50 – $374.74
Volume2.22M
Market cap$333.97B
P/E (TTM)23.9
Dividend yield2.41%

Fundamentals

Latest reported quarter: Q2, ended Jun 2026

Revenue$112.03B+0.4% YoY
Operating profit$7.99B+55.2% YoY
Net profit$5.67B+58.7% YoY
Diluted EPS$6.04+61.5% YoY
Free cash flow$10.25B+62.7% YoY
Operating cash flow$11.05B

Revenue, last 8 quarters

$100.8BSep '24$100.8BDec '24$109.6BMar '25$111.6BJun '25$113.2BSep '25$113.2BDec '25$111.7BMar '26$112.0BJun '26

Net profit, last 8 quarters

$6.3BSep '24$5.8BDec '24$6.5BMar '25$3.6BJun '25$2.5BSep '25$218.0MDec '25$6.5BMar '26$5.7BJun '26

Diluted EPS by quarter

6.51Sep '245.98Dec '246.85Mar '253.74Jun '252.59Sep '250.01Dec '256.90Mar '266.04Jun '26

Free cash flow by quarter

$13.0BSep '24$1.5BDec '24$4.6BMar '25$6.3BJun '25$5.1BSep '25$160.0MDec '25$8.1BMar '26$10.3BJun '26

Annual revenue

$257.1BFY20$287.6BFY21$324.2BFY22$371.6BFY23$400.3BFY24$447.6BFY25

Profitability & balance sheet

Gross margin19.5%
Operating margin4.8%
Net margin3.1%
Return on equity14.6%
Return on assets4.6%
Return on invested capital10.1%
Current ratio0.78
Liabilities / assets65.8%
Cash & investments$31.47B
Total debt$73.33B
Net cash (debt)-$41.86B
Free cash flow / sales5.2%

Where the revenue comes from

Quarter 2026/Q2

By business line

  • UnitedHealthcare$86.02B 56.2%
  • Optum Rx$38.29B 25.0%
  • Optum Health$23.47B 15.3%
  • Optum Insight$5.40B 3.5%

Income statement

Line item 2026 Q2 2026 Q1 2025 ANNUAL 2025 Q4 2025 Q3
Total Revenue as Reported $112.03B $111.72B $447.57B $113.22B $113.16B
Total Operating Revenue $112.03B $111.72B $447.57B $113.22B $113.16B
Cost of Revenue $88.73B $86.31B $364.65B $94.72B $92.52B
Gross Profit $23.30B $25.41B $82.92B $18.49B $20.64B
Operating Expense $15.31B $16.42B $63.95B $18.11B $16.32B
Depreciation & Amortization & Depletion $1.04B $1.03B $4.36B $1.12B $1.10B
-Depreciation & Amortization $1.04B $1.03B $4.36B $1.12B $1.10B
Other Operating Expenses $14.27B $15.39B $59.59B $17.00B $15.22B
Operating Profit $7.99B $8.99B $18.96B $380.00M $4.32B
Net Non-Operating Interest Income (Expense) -$962.00M -$955.00M -$4.00B -$974.00M -$1.00B
Non-Operating Interest Expense $962.00M $955.00M $4.00B $974.00M $1.00B
Other Income (Expense) -$61.00M -$72.00M -$265.00M -$126.00M -$83.00M
Special Income (Charges) -$61.00M -$72.00M -$265.00M -$126.00M -$83.00M
-Gain on Sale Of Business -$61.00M -$72.00M -$265.00M -$126.00M -$83.00M
Pretax Profit $6.97B $7.96B $14.70B -$720.00M $3.23B
Tax $1.30B $1.48B $1.89B -$938.00M $686.00M
Net Profit $5.67B $6.48B $12.81B $218.00M $2.54B
Profit from Continuing Operations $5.67B $6.48B $12.81B $218.00M $2.54B
Minority Interests $186.00M $201.00M $751.00M $208.00M $195.00M
Net Income to Parent Company $5.48B $6.28B $12.06B $10.00M $2.35B
Net Income to Common Stockholders $5.48B $6.28B $12.06B $10.00M $2.35B
Basic EPS $6.06 $6.92 $13.28 $0.01 $2.59
Diluted EPS $6.04 $6.90 $13.23 $0.01 $2.59
Dividend Per Share $2.32 $2.21 $8.73 $2.21 $2.21

Balance sheet

Line item 2026 Q2 2026 Q1 2025 ANNUAL 2025 Q4 2025 Q3
Total Assets $309.73B $312.64B $309.58B $309.58B $315.27B
Total Current Assets $86.86B $91.13B $90.58B $90.58B $95.07B
Cash and Cash Equivalents & Short-Term Investments $31.47B $31.23B $28.12B $28.12B $30.61B
-Cash and Cash Equivalents $28.59B $28.00B $24.37B $24.37B $27.21B
-Short Term Investments $2.88B $3.23B $3.76B $3.76B $3.40B
Receivables $46.30B $51.18B $52.72B $52.72B $55.43B
-Accounts Receivable $21.57B $26.59B $23.02B $23.02B $22.67B
-Other Receivables $24.72B $24.59B $29.70B $29.70B $32.76B
Other Current Assets $9.10B $8.72B $9.75B $9.75B $9.02B
Total Non-Current Assets $222.87B $221.52B $219.00B $219.00B $220.20B
Net PPE $10.76B $10.67B $10.76B $10.76B $11.10B
Investments and Advances $57.72B $56.79B $54.25B $54.25B $53.00B
Goodwill and Other Intangible Assets $130.39B $130.61B $130.97B $130.97B $133.13B
-Goodwill $110.65B $110.51B $110.50B $110.50B $110.34B
-Other Intangible Assets $19.75B $20.09B $20.47B $20.47B $22.79B
Other Non-Current Assets $24.00B $23.46B $23.01B $23.01B $22.98B
Total Liabilities $203.78B $207.33B $207.88B $207.88B $209.46B
Total Current Liabilities $111.82B $114.12B $114.90B $114.90B $115.53B
Payables $78.67B $78.29B $77.37B $77.37B $76.21B
-Accounts Payable $78.67B $78.29B $77.37B $77.37B $76.21B
Short-Term Debt and Capital Lease Obligation $3.83B $6.48B $6.07B $6.07B $7.74B
-Current Debt $3.83B $6.48B $6.07B $6.07B $7.74B
Current Deferred Liabilities $2.99B $3.42B $3.41B $3.41B $3.37B
Other Current Liabilities $26.34B $25.94B $28.05B $28.05B $28.21B
Total Non-Current Liabilities $91.96B $93.20B $92.99B $92.99B $93.93B
Long Term Debt and Capital Lease Obligation $69.50B $71.44B $72.32B $72.32B $72.40B
-Long Term Debt $69.50B $71.44B $72.32B $72.32B $72.40B
Non-Current Deferred Liabilities $2.72B $2.86B $2.42B $2.42B $3.16B
Other Non-Current Liabilities $19.74B $18.90B $18.25B $18.25B $18.37B
Total Equity $105.95B $105.32B $101.70B $101.70B $105.81B
Stockholders' Equity $98.45B $97.88B $94.11B $94.11B $95.79B
Capital Stock $9.00M $9.00M $9.00M $9.00M $9.00M
-Common Stock $9.00M $9.00M $9.00M $9.00M $9.00M
-Preferred Stock $0.00 $0.00 $0.00 $0.00 $0.00
Additional Paid-In Capital $0.00 $556.00M $559.00M $559.00M $394.00M
Retained Earnings $100.96B $99.88B $95.60B $95.60B $97.60B
Gains/Losses Not Affecting Retained Earnings -$2.52B -$2.56B -$2.06B -$2.06B -$2.21B
Minority Interests $7.50B $7.44B $7.59B $7.59B $10.03B
-Gross PPE $18.31B $18.31B
-Accumulated Depreciation -$7.55B -$7.55B

Cash flow

Line item 2026 Q2 2026 Q1 2025 ANNUAL 2025 Q4 2025 Q3
Operating Cash Flow $11.05B $8.91B $19.70B $1.11B $5.95B
Net cash flow from continuing operations $11.05B $8.91B $19.70B $1.11B $5.95B
Net Income from Continuing Operations $5.67B $6.48B $12.81B $218.00M $2.54B
Gain/Loss from Continuing Operations $61.00M $72.00M $265.00M $126.00M $83.00M
Depreciation & Depletion & Amortization $1.04B $1.03B $4.36B $1.12B $1.10B
Deferred Tax -$129.00M $540.00M -$1.75B -$733.00M -$932.00M
Other Non-Cash Items $69.00M -$304.00M $763.00M $699.00M -$63.00M
Change in Working Capital $4.07B $746.00M $2.28B -$495.00M $2.99B
-Change in Receivables $5.03B -$3.54B -$764.00M -$829.00M $1.75B
-Change in Payables and Accrued Expense -$619.00M $1.35B $7.49B $1.73B $1.87B
-Change in Other Current Assets $101.00M $2.92B -$4.61B -$1.50B -$962.00M
-Change In Other Working Capital -$442.00M $20.00M $163.00M $107.00M $338.00M
Net cash flow from investing -$1.80B -$2.45B -$8.69B -$2.61B -$4.56B
Net Cash Flow from Continuing Investing Activities -$1.80B -$2.45B -$8.69B -$2.61B -$4.56B
Net PPE Purchase and Sale -$799.00M -$763.00M -$3.62B -$948.00M -$890.00M
Net Business Purchase and Sale -$98.00M $0.00 -$4.51B -$73.00M -$3.70B
Net Investment Purchase and Sale -$399.00M -$2.35B $361.00M -$1.30B $330.00M
Net Other Investing Changes -$502.00M $668.00M -$915.00M -$294.00M -$296.00M
Financing Cash Flow -$8.62B -$2.99B -$11.64B -$1.03B -$2.77B
Net Cash Flow from Continuing Financing Activities -$8.62B -$2.99B -$11.64B -$1.03B -$2.77B
Net Issuance Payments Of Debt -$4.41B -$400.00M $726.00M -$1.71B $872.00M
Net Common Stock Issuance -$1.52B $231.00M -$4.72B $24.00M $222.00M
Cash Dividends Paid -$2.09B -$2.01B -$7.92B -$2.00B -$2.00B
Net Other Financing Charges -$605.00M -$818.00M $264.00M $2.66B -$1.86B
Ending Cash Balance $28.59B $28.00B $24.37B $24.37B $27.21B
Net Change in Cash $631.00M $3.47B -$632.00M -$2.53B -$1.38B
Beginning Cash Balance $28.00B $24.37B $25.31B $27.21B $28.60B
Effect of Exchange Rate Changes $4.00M -$7.00M $40.00M $15.00M -$4.00M
Free Cash Flow $10.25B $8.15B $16.08B $160.00M $5.06B
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