UnitedHealth Group Incorporated income statement & cash flow
In the fiscal year ended Dec 31, 2025, UnitedHealth Group Incorporated reported net income of $12.06B on revenue of $447.57B. Operating cash flow was $19.70B and capital expenditures were $3.62B, leaving $16.07B of free cash flow (operating cash flow minus capital expenditures).
Income statement and cash flow summary
| Fiscal year ended | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $184.84B | $201.16B | $226.25B | $242.16B | $257.14B | $287.60B | $324.16B | $371.62B | $400.28B | $447.57B |
| Operating income | $12.93B | $15.21B | $17.34B | $19.68B | $22.41B | $23.97B | $28.43B | $32.36B | $32.29B | $18.96B |
| Net income | $7.02B | $10.56B | $11.99B | $13.84B | $15.40B | $17.29B | $20.12B | $22.38B | $14.40B | $12.06B |
| Diluted EPS | $7.25 | $10.72 | $12.19 | $14.33 | $16.03 | $18.08 | $21.18 | $23.86 | $15.51 | $13.23 |
| Operating cash flow | $9.79B | $13.60B | $15.71B | $18.46B | $22.17B | $22.34B | $26.21B | $29.07B | $24.20B | $19.70B |
| Capital expenditures | $1.71B | $2.02B | $2.06B | $2.07B | $2.05B | $2.45B | $2.80B | $3.39B | $3.50B | $3.62B |
| Reported in | 10-K 2019 | 10-K 2020 | 10-K 2021 | 10-K 2022 | 10-K 2023 | 10-K 2024 | 10-K 2025 | 10-K 2026 | 10-K 2026 | 10-K 2026 |
Margins
Each figure divided by revenue for the same fiscal year.
| Fiscal year ended | Gross margin | Operating margin | Net margin |
|---|---|---|---|
| Dec 2025 | — | 4.2% | 2.7% |
| Dec 2024 | — | 8.1% | 3.6% |
| Dec 2023 | — | 8.7% | 6.0% |
| Dec 2022 | — | 8.8% | 6.2% |
| Dec 2021 | — | 8.3% | 6.0% |
Source: SEC EDGAR XBRL company facts for CIK 731766 (raw data). Most recent filing in this dataset: 10-Q filed Nov 3, 2026. SEC data file dated Nov 3, 2026; page built Nov 5, 2026. Figures are as most recently reported, including restatements. How we select figures.