UnitedHealth UNH
$394.15 −$1.57 (-0.40%)
Market closed · Nov 6, 8:10 pm ET · Last extended-hours $393.94 -0.05%
Open$388.39
Prev close$395.72
Day range$388.00 – $396.96
Volume5.90M
Market cap$353.17B
P/E (TTM)22.5
Dividend yield2.30%
Fundamentals
Latest reported quarter: Q3, ended Sep 2026
Revenue$112.69B-0.4% YoY
Operating profit$6.56B+52.1% YoY
Net profit$4.30B+69.1% YoY
Diluted EPS$4.56+76.1% YoY
Free cash flow$4.26B-15.6% YoY
Operating cash flow$5.12B
Revenue, last 8 quarters
Net profit, last 8 quarters
Diluted EPS by quarter
Free cash flow by quarter
Annual revenue
Profitability & balance sheet
Gross margin19.8%
Operating margin5.3%
Net margin3.5%
Return on equity15.9%
Return on assets5.1%
Return on invested capital10.8%
Current ratio0.74
Liabilities / assets66.3%
Cash & investments$28.55B
Total debt$74.33B
Net cash (debt)-$45.78B
Free cash flow / sales5.1%
Where the revenue comes from
Quarter 2026/Q2
By business line
Income statement
| Line item | 2026 Q3 | 2026 Q2 | 2026 Q1 | 2025 ANNUAL | 2025 Q4 |
|---|---|---|---|---|---|
| Total Revenue as Reported | $112.69B | $112.03B | $111.72B | $447.57B | $113.22B |
| Total Operating Revenue | $112.69B | $112.03B | $111.72B | $447.57B | $113.22B |
| Cost of Revenue | $90.69B | $88.73B | $86.31B | $364.65B | $94.72B |
| Gross Profit | $22.01B | $23.30B | $25.41B | $82.92B | $18.49B |
| Operating Expense | $15.44B | $15.31B | $16.42B | $63.95B | $18.11B |
| Depreciation & Amortization & Depletion | $1.07B | $1.04B | $1.03B | $4.36B | $1.12B |
| -Depreciation & Amortization | $1.07B | $1.04B | $1.03B | $4.36B | $1.12B |
| Other Operating Expenses | $14.37B | $14.27B | $15.39B | $59.59B | $17.00B |
| Operating Profit | $6.56B | $7.99B | $8.99B | $18.96B | $380.00M |
| Net Non-Operating Interest Income (Expense) | -$963.00M | -$962.00M | -$955.00M | -$4.00B | -$974.00M |
| Non-Operating Interest Expense | $963.00M | $962.00M | $955.00M | $4.00B | $974.00M |
| Other Income (Expense) | -$76.00M | -$61.00M | -$72.00M | -$265.00M | -$126.00M |
| Special Income (Charges) | -$76.00M | -$61.00M | -$72.00M | -$265.00M | -$126.00M |
| -Gain on Sale Of Business | -$76.00M | -$61.00M | -$72.00M | -$265.00M | -$126.00M |
| Pretax Profit | $5.52B | $6.97B | $7.96B | $14.70B | -$720.00M |
| Tax | $1.22B | $1.30B | $1.48B | $1.89B | -$938.00M |
| Net Profit | $4.30B | $5.67B | $6.48B | $12.81B | $218.00M |
| Profit from Continuing Operations | $4.30B | $5.67B | $6.48B | $12.81B | $218.00M |
| Minority Interests | $190.00M | $186.00M | $201.00M | $751.00M | $208.00M |
| Net Income to Parent Company | $4.11B | $5.48B | $6.28B | $12.06B | $10.00M |
| Net Income to Common Stockholders | $4.11B | $5.48B | $6.28B | $12.06B | $10.00M |
| Basic EPS | $4.58 | $6.06 | $6.92 | $13.28 | $0.01 |
| Diluted EPS | $4.56 | $6.04 | $6.90 | $13.23 | $0.01 |
| Dividend Per Share | $2.32 | $2.32 | $2.21 | $8.73 | $2.21 |
Balance sheet
| Line item | 2026 Q3 | 2026 Q2 | 2026 Q1 | 2025 ANNUAL | 2025 Q4 |
|---|---|---|---|---|---|
| Total Assets | $312.78B | $309.73B | $312.64B | $309.58B | $309.58B |
| Total Current Assets | $85.60B | $86.86B | $91.13B | $90.58B | $90.58B |
| Cash and Cash Equivalents & Short-Term Investments | $28.55B | $31.47B | $31.23B | $28.12B | $28.12B |
| Receivables | $20.54B | $46.30B | $51.18B | $52.72B | $52.72B |
| -Accounts Receivable | $20.54B | $21.57B | $26.59B | $23.02B | $23.02B |
| Other Current Assets | $36.50B | $9.10B | $8.72B | $9.75B | $9.75B |
| Total Non-Current Assets | $227.19B | $222.87B | $221.52B | $219.00B | $219.00B |
| Investments and Advances | $58.06B | $57.72B | $56.79B | $54.25B | $54.25B |
| Other Non-Current Assets | $169.12B | $24.00B | $23.46B | $23.01B | $23.01B |
| Total Liabilities | $207.24B | $203.78B | $207.33B | $207.88B | $207.88B |
| Total Current Liabilities | $115.84B | $111.82B | $114.12B | $114.90B | $114.90B |
| Payables | $39.35B | $78.67B | $78.29B | $77.37B | $77.37B |
| -Accounts Payable | $39.35B | $78.67B | $78.29B | $77.37B | $77.37B |
| Short-Term Debt and Capital Lease Obligation | $5.62B | $3.83B | $6.48B | $6.07B | $6.07B |
| -Current Debt | $5.62B | $3.83B | $6.48B | $6.07B | $6.07B |
| Other Current Liabilities | $70.87B | $26.34B | $25.94B | $28.05B | $28.05B |
| Total Non-Current Liabilities | $91.40B | $91.96B | $93.20B | $92.99B | $92.99B |
| Long Term Debt and Capital Lease Obligation | $68.71B | $69.50B | $71.44B | $72.32B | $72.32B |
| -Long Term Debt | $68.71B | $69.50B | $71.44B | $72.32B | $72.32B |
| Other Non-Current Liabilities | $22.69B | $19.74B | $18.90B | $18.25B | $18.25B |
| Total Equity | $105.55B | $105.95B | $105.32B | $101.70B | $101.70B |
| Stockholders' Equity | $104.13B | $98.45B | $97.88B | $94.11B | $94.11B |
| Minority Interests | $1.42B | $7.50B | $7.44B | $7.59B | $7.59B |
| -Cash and Cash Equivalents | – | $28.59B | $28.00B | $24.37B | $24.37B |
| -Short Term Investments | – | $2.88B | $3.23B | $3.76B | $3.76B |
| -Other Receivables | – | $24.72B | $24.59B | $29.70B | $29.70B |
| Net PPE | – | $10.76B | $10.67B | $10.76B | $10.76B |
| Goodwill and Other Intangible Assets | – | $130.39B | $130.61B | $130.97B | $130.97B |
| -Goodwill | – | $110.65B | $110.51B | $110.50B | $110.50B |
| -Other Intangible Assets | – | $19.75B | $20.09B | $20.47B | $20.47B |
| Current Deferred Liabilities | – | $2.99B | $3.42B | $3.41B | $3.41B |
| Non-Current Deferred Liabilities | – | $2.72B | $2.86B | $2.42B | $2.42B |
| Capital Stock | – | $9.00M | $9.00M | $9.00M | $9.00M |
| -Common Stock | – | $9.00M | $9.00M | $9.00M | $9.00M |
| -Preferred Stock | – | $0.00 | $0.00 | $0.00 | $0.00 |
| Additional Paid-In Capital | – | $0.00 | $556.00M | $559.00M | $559.00M |
| Retained Earnings | – | $100.96B | $99.88B | $95.60B | $95.60B |
| Gains/Losses Not Affecting Retained Earnings | – | -$2.52B | -$2.56B | -$2.06B | -$2.06B |
| -Gross PPE | – | – | – | $18.31B | $18.31B |
| -Accumulated Depreciation | – | – | – | -$7.55B | -$7.55B |
Cash flow
| Line item | 2026 Q3 | 2026 Q2 | 2026 Q1 | 2025 ANNUAL | 2025 Q4 |
|---|---|---|---|---|---|
| Operating Cash Flow | $5.12B | $11.05B | $8.91B | $19.70B | $1.11B |
| Net cash flow from continuing operations | $5.12B | $11.05B | $8.91B | $19.70B | $1.11B |
| Net Income from Continuing Operations | $4.30B | $5.67B | $6.48B | $12.81B | $218.00M |
| Gain/Loss from Continuing Operations | $76.00M | $61.00M | $72.00M | $265.00M | $126.00M |
| Depreciation & Depletion & Amortization | $1.07B | $1.04B | $1.03B | $4.36B | $1.12B |
| Deferred Tax | -$296.00M | -$129.00M | $540.00M | -$1.75B | -$733.00M |
| Change in Working Capital | -$484.00M | $4.07B | $746.00M | $2.28B | -$495.00M |
| Net cash flow from investing | -$4.57B | -$1.80B | -$2.45B | -$8.69B | -$2.61B |
| Net Cash Flow from Continuing Investing Activities | -$4.57B | -$1.80B | -$2.45B | -$8.69B | -$2.61B |
| Net PPE Purchase and Sale | -$859.00M | -$799.00M | -$763.00M | -$3.62B | -$948.00M |
| Net Business Purchase and Sale | -$1.44B | -$98.00M | $0.00 | -$4.51B | -$73.00M |
| Net Investment Purchase and Sale | -$1.74B | -$399.00M | -$2.35B | $361.00M | -$1.30B |
| Net Other Investing Changes | -$539.00M | -$502.00M | $668.00M | -$915.00M | -$294.00M |
| Financing Cash Flow | -$3.42B | -$8.62B | -$2.99B | -$11.64B | -$1.03B |
| Net Cash Flow from Continuing Financing Activities | -$3.42B | -$8.62B | -$2.99B | -$11.64B | -$1.03B |
| Net Issuance Payments Of Debt | $1.74B | -$4.41B | -$400.00M | $726.00M | -$1.71B |
| Net Common Stock Issuance | -$3.74B | -$1.52B | $231.00M | -$4.72B | $24.00M |
| Cash Dividends Paid | -$2.08B | -$2.09B | -$2.01B | -$7.92B | -$2.00B |
| Net Other Financing Charges | $666.00M | -$605.00M | -$818.00M | $264.00M | $2.66B |
| Ending Cash Balance | $25.85B | $28.59B | $28.00B | $24.37B | $24.37B |
| Net Change in Cash | -$2.87B | $631.00M | $3.47B | -$632.00M | -$2.53B |
| Beginning Cash Balance | $28.59B | $28.00B | $24.37B | $25.31B | $27.21B |
| Effect of Exchange Rate Changes | -$8.00M | $4.00M | -$7.00M | $40.00M | $15.00M |
| Free Cash Flow | $4.26B | $10.25B | $8.15B | $16.08B | $160.00M |
| Other Non-Cash Items | – | $69.00M | -$304.00M | $763.00M | $699.00M |
| -Change in Receivables | – | $5.03B | -$3.54B | -$764.00M | -$829.00M |
| -Change in Payables and Accrued Expense | – | -$619.00M | $1.35B | $7.49B | $1.73B |
| -Change in Other Current Assets | – | $101.00M | $2.92B | -$4.61B | -$1.50B |
| -Change In Other Working Capital | – | -$442.00M | $20.00M | $163.00M | $107.00M |
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