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UnitedHealth is the largest US health insurer and, through Optum, a major provider of pharmacy benefits, health services, and data analytics.
For the fiscal year ended December 31, 2025, UnitedHealth Group Incorporated reported revenue of $447.6B and net income of $12.1B, with operating cash flow of $19.7B. Source: Form 10-K filed March 2, 2026
Reported SEC XBRL figures. Each metric’s period and original filing are listed below.
Delayed Cboe One market data via TradingView. It may differ from primary-exchange or consolidated quotes.
Its combined insurance-and-services model gives it wide reach across the healthcare system.
Reported figures from UnitedHealth Group Incorporated's filings, pulled directly from SEC XBRL data rather than a third-party terminal. Each row links to the filing it came from.
| Metric | Value | Period | Source |
|---|---|---|---|
| Revenue | $447.6B | 2025-01-01 – 2025-12-31 | SEC filing |
| Net income | $12.1B | 2025-01-01 – 2025-12-31 | SEC filing |
| Operating cash flow | $19.7B | 2025-01-01 – 2025-12-31 | SEC filing |
| Diluted EPS | $13.23 | 2025-01-01 – 2025-12-31 | SEC filing |
| Net margin | 2.7% | 2025-01-01 – 2025-12-31 | SEC filing |
| Shares outstanding | 906M | As of 2025-10-24 | SEC filing |
Values are as tagged by the issuer in XBRL. Revenue for banks and insurers is net of interest expense where that is the reported line. Fiscal years that do not follow the calendar are shown by their period-end date. No price, market cap, or valuation multiple is shown because Yield Theory does not republish unlicensed market data.
Diluted EPS is the earnings figure behind the price-to-earnings ratio; the P/E multiple compression calculator shows how a change in that multiple moves a share price. Shares outstanding multiplied by the share price gives market capitalization.
For UnitedHealth Group Incorporated, the most important recurring operating and market variables are:
Each question starts with what the filings show, then why it matters. None of these is a rating or a forecast.
The medical care ratio rose to 89.1% in 2025 from 85.5% in 2024, operating margin fell to 4.2% from 8.1%, and diluted EPS dropped 15% to $13.23 on revenue of $447.6 billion. Item 1A says small differences between predicted and actual medical costs produce large earnings swings because risk-based premiums are nearly 80% of revenue.
UnitedHealthcare served 8.4 million Medicare Advantage members and 10.4 million Part D members at year-end 2025, and CMS premiums represented 44% of consolidated revenue. Item 1 explains that plans need four-star ratings to earn quality bonus payments; track CMS rate notices and Star results as direct revenue inputs.
Optum Health serves 95 million consumers with fully accountable value-based arrangements, Optum Rx managed $188 billion of pharmaceutical spending including nearly $87 billion in specialty, and Optum Insight backlog was $31.1 billion, down from $32.8 billion. Read the segment results for whether Optum margins offset insurance pressure.
Item 1A lists routine governmental legal actions and investigations, proposed PBM rebate and formulary rules, and the prior Change Healthcare cyberattack as ongoing risks, and a 2026 realignment moves Optum Financial into Optum Insight. Audited 2025 net income was $12.1 billion; check legal proceedings notes for reserves.
Operating cash flow was $19.7B, 1.63 times net income of $12.1B, for the fiscal year ended December 31, 2025.
Cash from operations exceeded reported earnings. Non-cash charges such as depreciation, amortization and stock-based compensation usually explain the gap; the cash-flow statement shows which.
Net income was 2.7% of revenue for the fiscal year ended December 31, 2025, based on revenue and net income reported for the same period.
Net margin reflects the business model as much as execution, so compare it with companies in the same SEC industry and read the income statement for one-time items before treating it as a run rate.
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| Politician | Trade date | Type | Owner | Amount | Source |
|---|---|---|---|---|---|
| Kevin Hern | 2026-09-10 | Sale | Joint | $15,001 - $50,000 | Filing #20035491 |
| Rich McCormick | 2026-07-30 | Sale | Self | $1,001 - $15,000 | Filing #20035204 |
| Dan Newhouse | 2026-07-10 | Sale | Spouse | $1,001 - $15,000 | Filing #20034998 |
| Rich McCormick | 2026-06-12 | Sale | Self | $1,001 - $15,000 | Filing #20034954 |
| Rich McCormick | 2026-06-12 | Sale | Self | $1,001 - $15,000 | Filing #20034954 |
| John Boozman | 2026-06-04 | Purchase | Joint | $1,001 - $15,000 | Filing #9c0b720d-7e27-4b02-8cf5-a85ba88c9543 |
| Maria Salazar | 2026-06-04 | Sale | Self | $1,001 - $15,000 | Filing #20034928 |
| Maria Salazar | 2026-04-22 | Purchase | Self | $1,001 - $15,000 | Filing #20034479 |
| Maria Salazar | 2026-04-22 | Purchase | Self | $1,001 - $15,000 | Filing #20034479 |
| Gilbert Cisneros | 2026-04-14 | Purchase | Self | $1,001 - $15,000 | Filing #20034500 |
All verified UNH congressional disclosures
Congressional disclosures are delayed, range-based records—not real-time signals or proof of motive. See the source-linked tracker for scope and limitations.
UnitedHealth is the largest US health insurer and, through Optum, a major provider of pharmacy benefits, health services, and data analytics.
For the fiscal year ended December 31, 2025, UnitedHealth Group Incorporated reported revenue of $447.6B and net income of $12.1B, with operating cash flow of $19.7B. The figures come from UnitedHealth Group Incorporated's SEC XBRL filings.
The SEC lists UnitedHealth Group Incorporated's fiscal year end as December 31.
The current verified House and Senate snapshot contains 89 transaction rows for UNH, each linked to the original filing.
UnitedHealth Group Incorporated is headquartered in Minnetonka, Minnesota and was founded in 1977.
This page does not rate UNH as a buy or sell. It sets out what UnitedHealth Group Incorporated reports, what investors should watch and the questions a thesis has to answer, with links to the SEC filings. It is research, not investment advice.
This page is independent research and educational information, not investment advice or a recommendation to buy or sell any security. Company facts are compiled from public sources. Do your own research.
Financials describe the business. The next question is which assumptions an investment thesis depends on. Explore the member reports below for analysis of catalysts, risks, and what would change the view. $39/month or $249/year.
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