UNITEDHEALTH GROUP INC
For the period ended Dec 31, 2025. Filed Mar 2, 2026.
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FY2025 · Filed Mar 2, 2026
UNH$405.12+1.9%Stored close · as of Nov 10, 2026
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Consolidated Statements of Operations
| For the Years Ended December 31, | |||
|---|---|---|---|
| (in millions, except per share data) | 2025 | 2024 | 2023 |
| Revenues: | |||
| Premiums | $352,229 | $308,810 | $290,827 |
| Products | 53,380 | 50,226 | 42,583 |
| Services | 38,038 | 36,040 | 34,123 |
| Investment and other income | 3,920 | 5,202 | 4,089 |
| Total revenues | 447,567 | 400,278 | 371,622 |
| Operating costs: | |||
| Medical costs | 313,995 | 264,185 | 241,894 |
| Operating costs | 59,592 | 53,013 | 54,628 |
| Cost of products sold | 50,655 | 46,694 | 38,770 |
| Depreciation and amortization | 4,361 | 4,099 | 3,972 |
| Total operating costs | 428,603 | 367,991 | 339,264 |
| Earnings from operations | 18,964 | 32,287 | 32,358 |
| Interest expense | (4,002) | (3,906) | (3,246) |
| Loss on sale of subsidiary and subsidiaries held for sale | (265) | (8,310) | — |
| Earnings before income taxes | 14,697 | 20,071 | 29,112 |
| Provision for income taxes | (1,890) | (4,829) | (5,968) |
| Net earnings | 12,807 | 15,242 | 23,144 |
| Earnings attributable to noncontrolling interests | (751) | (837) | (763) |
| Net earnings attributable to UnitedHealth Group common shareholders | $12,056 | $14,405 | $22,381 |
| Earnings per share attributable to UnitedHealth Group common shareholders: | |||
| Basic | $13.28 | $15.64 | $24.12 |
| Diluted | $13.23 | $15.51 | $23.86 |
| Basic weighted-average number of common shares outstanding | 908 | 921 | 928 |
| Dilutive effect of common share equivalents | 3 | 8 | 10 |
| Diluted weighted-average number of common shares outstanding | 911 | 929 | 938 |
| Anti-dilutive shares excluded from the calculation of dilutive effect of common share equivalents | 12 | 6 | 6 |
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