UNITEDHEALTH GROUP INC

Listed Company

UNHCIK 0000731766NYSELarge AcceleratedHospital & Medical Service PlansDelawareFY ends Dec 31

Period

FY 2025

Revenue

$447.57B

Net Income

$12.06B

Total Assets

$309.58B

Equity

$100.09B

Shares Out

907.68M

Op. Cash Flow

$19.70B

Business

UNITEDHEALTH GROUP INC is a health care and well-being company that provides integrated health benefits and information- and technology-enabled health services aimed at improving access, affordability, outcomes and experiences. It offers health benefits, care delivery, data and analytics, pharmacy care services, care management, clinical programs, technology platforms, consulting and financial services. Its operations are organized into Optum (Optum Health, Optum Insight, Optum Rx) and UnitedHealthcare (Employer & Individual, Medicare & Retirement, Community & State) reportable segments. The company serves patients, providers, payers, employers, governments and life sciences customers through direct sales, brokers, digital channels and strategic partnerships.

Summary from filing dated 2025-02-27

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Premiums	352,229	308,810	290,827	257,157	226,233
Investment and other income	3,920	5,202	4,089	2,030	2,324
Total revenues	447,567	400,278	371,622	324,162	287,597
Medical costs	313,995	264,185	241,894	210,842	—
Operating costs	59,592	53,013	54,628	47,782	42,579
Cost of products sold	50,655	46,694	38,770	33,703	31,034
Depreciation and amortization	4,361	4,099	3,972	3,400	3,103
Total operating costs	428,603	367,991	339,264	295,727	263,627
Earnings from operations	18,964	32,287	32,358	28,435	23,970
Interest expense	−4,002	−3,906	−3,246	−2,092	−1,660
Loss on sale of subsidiary and subsidiaries held for sale	−265	−8,310	0	0	—
Total income before income taxes	14,697	20,071	29,112	26,343	22,310
Provision for income taxes	−1,890	−4,829	−5,968	−5,704	−4,578
Net earnings	12,807	15,242	23,144	20,639	17,732
Earnings attributable to noncontrolling interests	−751	−837	−763	−519	−447
Net earnings attributable to UnitedHealth Group common shareholders	12,056	14,405	22,381	20,120	17,285
Basic	13.28	15.64	24.12	21.47	18.33
Diluted	13.23	15.51	23.86	21.18	18.08
Basic weighted-average number of common shares outstanding	908	921	928	937	943
Dilutive effect of common share equivalents	3	8	10	13	13
Diluted weighted-average number of common shares outstanding	911	929	938	950	956
Anti-dilutive shares excluded from the calculation of dilutive effect of common share equivalents	12	6	6	3	1

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	24,365	25,312	25,427	23,365	21,375
Short-term investments	3,756	3,801	4,201	4,546	2,532
Accounts receivable, net of allowances of $1,208 and $985	23,018	22,365	21,276	17,681	14,216
Other current receivables, net of allowances of $3,763 and $2,864	29,697	26,089	17,694	12,769	13,866
Prepaid expenses and other current assets	9,746	8,212	6,084	6,621	5,320
Total current assets	90,582	85,779	78,437	69,069	61,758
Long-term investments	54,251	52,354	47,609	43,728	43,114
Property, equipment and capitalized software, net of accumulated depreciation and amortization of $7,546 and $6,971	10,762	10,553	11,450	10,128	8,969
Goodwill	110,499	106,734	103,732	93,352	75,795
Other intangible assets, net of accumulated amortization of $7,472 and $8,350	20,474	23,268	15,194	14,401	10,044
Other assets	23,013	19,590	17,298	15,027	12,526
Total assets	309,581	298,278	273,720	245,705	212,206
Medical costs payable	39,337	34,224	32,395	29,056	24,483
Accounts payable and accrued liabilities	38,032	34,337	31,958	27,715	24,643
Short-term borrowings and current maturities of long-term debt	6,069	4,545	4,274	3,110	3,620
Unearned revenues	3,413	3,317	3,355	3,075	2,571
Other current liabilities	28,046	27,346	27,072	26,281	22,975
Total current liabilities	114,897	103,769	99,054	89,237	78,292
Long-term debt, less current maturities	72,320	72,359	58,263	54,513	42,383
Deferred income taxes	2,421	3,620	3,021	2,769	3,265
Other liabilities	18,245	15,939	14,463	12,839	11,787
Total liabilities	207,883	195,687	174,801	159,358	135,727
Commitments and contingencies (Note 12)	—	—	—	—	—
Redeemable noncontrolling interests	1,608	4,323	4,498	4,897	1,434
Preferred stock, $0.001 par value - 10 shares authorized; no shares issued or outstanding	0	0	0	0	0
Common stock, $0.01 par value - 3,000 shares authorized; 906 and 915 issued and outstanding	9	9	9	9	10
Additional paid-in capital	559	0	—	—	0
Retained earnings	95,603	96,036	95,774	86,156	77,134
Accumulated other comprehensive loss	−2,061	−3,387	−7,027	−8,393	−5,384
Nonredeemable noncontrolling interests	5,980	5,610	5,665	3,678	3,285
Total equity	100,090	98,268	94,421	81,450	75,045
Total liabilities and shareholders equity	309,581	298,278	273,720	245,705	212,206

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Deferred income taxes	−1,752	−296	−245	−673	130
Share-based compensation	971	1,018	1,059	925	800
Net gains on dispositions and other strategic transactions	−910	−3,333	−489	−588	—
Other, net	1,673	−28	−16	257	−944
Accounts receivable	−764	−1,437	−3,114	−2,523	−1,000
Other assets	−4,606	−4,140	−2,444	−1,374	−1,031
Medical costs payable	5,824	2,503	3,482	4,053	2,701
Accounts payable and other liabilities	1,665	2,463	3,516	1,964	1,162
Unearned revenues	163	−197	203	126	−310
Cash flows from operating activities	19,697	24,204	29,068	26,206	22,343
Purchases of investments	−17,373	−27,308	−18,314	−18,825	−17,139
Sales of investments	9,288	18,514	7,307	5,907	7,045
Maturities of investments	8,446	9,319	9,230	6,081	8,251
Cash paid for acquisitions and other transactions, net of cash assumed	−4,509	−13,408	−10,136	−21,458	−4,821
Purchases of property, equipment and capitalized software	−3,622	−3,499	−3,386	−2,802	−2,454
Loans to care providers - cyberattack	0	−9,033	0	0	—
Repayments of care provider loans - cyberattack	1,680	4,514	0	0	—
Cash received from dispositions, net	561	2,041	685	3,414	15
Originations and purchases of loans	−4,795	−2,477	−1,664	—	—
Repayments and maturities of loans	1,980	908	613	—	—
Other, net	−341	−98	91	−793	−1,269
Cash flows used for investing activities	−8,685	−20,527	−15,574	−28,476	−10,372
Common share repurchases	−5,545	−9,000	−8,000	−7,000	−5,000
Cash dividends paid	−7,916	−7,533	−6,761	−5,991	−5,280
Proceeds from common stock issuances	827	1,846	1,353	1,253	1,355
Repayments of long-term debt	−3,050	−3,000	−2,125	−3,015	−3,150
Proceeds from (repayments of) short-term borrowings, net	807	−151	11	732	−1,302
Proceeds from issuance of long-term debt	2,969	17,811	6,394	14,819	6,933
Customer funds administered	366	−1,560	−521	5,548	622
Purchases of redeemable noncontrolling interests	−165	−280	−730	−176	−1,338
Other, net	63	−1,645	−1,150	−1,944	−295
Cash flows used for financing activities	−11,644	−3,512	−11,529	4,226	−7,455
Effect of exchange rate changes on cash and cash equivalents	40	−61	97	34	−62
(Decrease) increase in cash and cash equivalents, including cash within businesses held for sale	−592	104	2,062	1,990	—
Less: net increase in cash within businesses held for sale	−355	−219	0	0	—
Net (decrease) increase in cash and cash equivalents	−947	−115	2,062	1,990	4,454
Cash paid for interest	4,030	3,594	3,035	1,945	1,653
Cash paid for income taxes	3,714	4,620	6,078	5,222	3,966

Filings

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