UNH (UnitedHealth Group Incorporated) Stock Financials & Earnings

UNHUnitedHealth Group Incorporated

Mkt Cap$255B

UNHUnitedHealth Group Incorporated

$255B

Company Info & Key Metrics

UnitedHealth Group Incorporated operates as a diversified health care company in the United States. It operates through four segments: UnitedHealthcare, Optum Health, Optum Insight, and Optum Rx. The ...

CEOStephen J. Hemsley

Country🇺🇸 United States

ExchangeNYSE

IPOOct 17, 1984

www.unitedhealthgroup.com

Revenue$113.2B

YoY Growth+12.3%

QoQ Growth+0.0%

Net Income$10M

EPS$0.01

Free Cash Flow$160M

Gross Margin16.3%

Op. Margin0.3%

Net Margin0.0%

FCF Margin0.1%

Rev Multiple (TTM)0.6x

P/E Ratio (TTM)21.2x

Revenue & Profitability

Quarter	Revenue	Gross Profit	Op. Income
Q1 23	$91.9B	$22.7B	$8.1B
Q2 23	$92.9B	$22.9B	$8.1B
Q3 23	$92.4B	$23.4B	$8.5B
Q4 23	$94.4B	$22.0B	$7.7B
Q1 24	$99.8B	$23.0B	$7.9B
Q2 24	$98.9B	$22.1B	$7.9B
Q3 24	$100.8B	$23.0B	$8.7B
Q4 24	$100.8B	$21.3B	$7.8B
Q1 25	$109.6B	$23.8B	$9.1B
Q2 25	$111.6B	$20.0B	$5.2B
Q3 25	$113.2B	$20.6B	$4.3B
Q4 25	$113.2B	$18.5B	$380M

Valuation

Quarter	P/S	P/E
Q1 23	0.8x	12.3x
Q2 23	0.7x	12.1x
Q3 23	0.7x	11.8x
Q4 23	0.7x	11.4x
Q1 24	0.7x	16.6x
Q2 24	0.7x	18.1x
Q3 24	0.6x	17.8x
Q4 24	0.6x	17.7x
Q1 25	0.6x	11.5x
Q2 25	0.6x	12.0x
Q3 25	0.6x	14.5x
Q4 25	0.6x	21.2x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 23	$16.3B	$15.6B
Q2 23	$11.0B	$10.2B
Q3 23	$6.9B	$6.1B
Q4 23	-$5.2B	-$6.2B
Q1 24	$1.1B	$401M
Q2 24	$6.7B	$5.9B
Q3 24	$13.9B	$13.0B
Q4 24	$2.4B	$1.5B
Q1 25	$5.5B	$4.6B
Q2 25	$7.2B	$6.3B
Q3 25	$5.9B	$5.1B
Q4 25	$1.1B	$160M

Capital Expenditures

CapEx

Quarter	CapEx
Q1 23	$760M
Q2 23	$829M
Q3 23	$838M
Q4 23	$959M
Q1 24	$743M
Q2 24	$853M
Q3 24	$991M
Q4 24	$912M
Q1 25	$898M
Q2 25	$886M
Q3 25	$890M
Q4 25	$948M

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 23	+14.7%	+14.5%
Q2 23	+15.6%	+15.9%
Q3 23	+14.2%	+14.2%
Q4 23	+14.1%	+14.3%
Q1 24	+8.6%	+9.6%
Q2 24	+6.4%	+7.2%
Q3 24	+9.2%	+9.9%
Q4 24	+6.8%	+7.3%
Q1 25	+9.8%	+9.4%
Q2 25	+12.9%	+17.0%
Q3 25	+12.2%	+18.2%
Q4 25	+12.3%	+21.3%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 23	$362M	0.4%
Q2 23	$242M	0.3%
Q3 23	$247M	0.3%
Q4 23	$208M	0.2%
Q1 24	$372M	0.4%
Q2 24	$222M	0.2%
Q3 24	$237M	0.2%
Q4 24	$187M	0.2%
Q1 25	$375M	0.3%
Q2 25	$197M	0.2%
Q3 25	$223M	0.2%
Q4 25	$176M	0.2%

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 23	$41.9B	$4.6B	$46.5B
Q2 23	$41.8B	$4.5B	$46.3B
Q3 23	$38.9B	$5.2B	$44.1B
Q4 23	$25.4B	$4.2B	$29.6B
Q1 24	$28.4B	$4.3B	$32.7B
Q2 24	$26.3B	$5.0B	$31.3B
Q3 24	$32.4B	$4.7B	$37.1B
Q4 24	$25.3B	$3.8B	$29.1B
Q1 25	$30.7B	$3.6B	$34.3B
Q2 25	$28.6B	$3.4B	$32.0B
Q3 25	$27.2B	$3.4B	$30.6B
Q4 25	$28.1B	$0	$28.1B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change
Q1 23	943M	-0.4%
Q2 23	940M	-0.3%
Q3 23	936M	-0.4%
Q4 23	935M	-0.1%
Q1 24	922M	-1.4%
Q2 24	928M	+0.7%
Q3 24	930M	+0.2%
Q4 24	927M	-0.3%
Q1 25	918M	-1.0%
Q2 25	910M	-0.9%
Q3 25	912M	+0.2%
Q4 25	910M	-0.2%

Revenue Per Employee

Revenue / Employee

Year	Revenue/Employee	Employees
FY 14	$767K	170K
FY 15	$786K	200K
FY 16	$804K	230K
FY 17	$774K	260K
FY 18	$754K	300K
FY 19	$745K	325K
FY 20	$779K	330K
FY 21	$822K	350K
FY 22	$810K	400K
FY 23	$929K	400K
FY 24	$1M	400K
FY 25	$1M	400K