UnitedHealth Group Inc. (UNH)

Name: UnitedHealth Group Inc. (UNH): results, filings decoded, planned insider sales, 13F holders, insiders, Congress and short interest
Creator: GreekSoup
License: https://creativecommons.org/licenses/by/4.0/

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UnitedHealth Group Inc. (UNH) reported revenue of $112.0 billion for Q2 FY2026, the quarter ended 30 June 2026, up 0.4% on the same quarter a year earlier. Net income was $5.5 billion, up 61.0% on the year, and diluted earnings per share $6.04. The figures are the company's own, from the 10-Q it filed with the SEC on 10 August 2026.

Revenue$112.0 billionup 0.4%

Net income$5.5 billionup 61.0%

Diluted EPS$6.04

QuarterQ2 FY2026ended 30 June 2026

Ratios

From the filings

ROE13.5%

ROCE12.5%

Operating margin4.8%

Net margin3.1%

FCF margin5.2%

Interest cover5.57

Debt to equity0.67

Cash conversion1.91

Share count, 1 year0.0%

Sales CAGR, 3 years11.4%

Profit CAGR, 3 years-15.7%

EPS, TTMn/a

At the close of 21 September 2026

Price$377.56

Market cap$341.7 billion

Stock P/E24.29

Price to book3.27

EV / EBITDA14.74

Dividend yield2.3%

Market cap / sales0.76

52-week high$436.35

52-week low$259.02

Price, 1 year12.1%

Price CAGR, 3 years-9.3%

Price CAGR, 5 years-1.6%

Every figure is arithmetic on the filed lines (hover a name for the formula); the priced ones use the latest daily close, CBOE delayed quotes, daily history, by CBOE, for splits. Debt to equity here stands on long-term debt as UnitedHealth Group Inc. files it, with lease liabilities counted separately and never inside it. Nothing here is a valuation or a view.

Price, 17 September 2021 to 21 September 2026

Show

50-day average 200-day average Volume

Daily closes from CBOE delayed quotes, daily history, by CBOE, for splits; the last is 21 September 2026. P/E is the close over the trailing four quarters' EPS as filed at each filing date, on the current share count; the dashed line is the median over the range shown. Sales and margin are quarterly revenue and the operating margin from the tables above. EV/EBITDA, price to book and market cap to sales use the latest filed balance sheet and share count at each date. Drawn in your browser; the range and overlay you pick are remembered here only.

The public record on UNH

Filings	24 in twelve months: 14 current reports (8-K), about 5 regulation fd disclosure; 4 results of operations; 3 officer or director change; 1 shareholder vote; 1 charter or bylaw amendment, or fiscal year change
Planned insider sales	3 Form 144 notices in twelve months, $944,910; latest 21 August 2026
Options tape	put/call 1.3 by open interest on 23 September 2026; the straddle prices a 2.3% move to 25 September 2026
Holders	14 of the followed funds hold it; largest FMR LLC; 3 Schedule 13D or 13G filings in twelve months
Insider trading	3 sales and 0 purchases on Form 4 in twelve months
Congress	8 House trades disclosed in six months
Short interest	15.3 million shares short, 3.63 days to cover at 31 August 2026
Documents	the 10-K, the 10-Qs, the proxy and 4 earnings press releases, each linked

Quarterly results, the last 12 quarters

	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026
Revenue	92,361	94,427	99,796	98,855	100,820	100,807	109,575	111,616	113,161	113,215	111,721	112,032
Cost of revenue	9,423	10,194	11,056	11,340	11,834	12,464	12,390	13,019	12,566	12,680	12,823	13,375
Gross profit	82,938	84,233	88,740	87,515	88,986	88,343	97,185	98,597	100,595	100,535	98,898	98,657
Gross margin	90%	89%	89%	89%	88%	88%	89%	88%	89%	89%	89%	88%
SG&A	13,855	13,339	14,077	13,162	13,280	12,494	13,594	13,778	15,223	16,997	15,390	14,268
Operating income	8,526	7,689	7,931	7,875	8,708	7,773	9,119	5,150	4,315	380	8,990	7,991
Operating margin	9%	8%	8%	8%	9%	8%	8%	5%	4%	0%	8%	7%
Interest expense	834	830	844	985	1,074	1,003	998	1,027	1,003	974	955	962
Pre-tax income	7,692	6,859	1.0	5,665	7,614	6,791	8,106	4,082	3,229	-720	7,963	6,968
Tax rate	22%	17%	122200%	22%	18%	15%	20%	12%	21%	n/a	19%	19%
Net income	5,841	5,455	-1,409	4,216	6,055	5,543	6,292	3,406	2,348	10.0	6,280	5,484
Net margin	6%	6%	-1%	4%	6%	5%	6%	3%	2%	0%	6%	5%
Diluted EPS	$6.24	$5.85	-$1.53	$4.54	$6.51	$5.99	$6.85	$3.74	$2.59	n/a	$6.90	$6.04
Operating cash flow	6,902	-5,193	1,144	6,746	13,945	2,369	5,456	7,188	5,945	1,108	8,912	11,052
Capital expenditure	838	959	743	853	991	912	898	886	890	948	763	799
Free cash flow	6,064	-6,152	401	5,893	12,954	1,457	4,558	6,302	5,055	160	8,149	10,253
Buybacks	1,500	1,500	3,072	0.0	956	4,972	3,000	2,545	0.0	0.0	0.0	1,646
Dividends paid	1,739	1,738	1,729	1,935	1,937	1,932	1,912	2,000	2,002	2,002	2,005	2,087
Shares outstanding	925m	924m	920m	921m	923m	915m	910m	905m	906m	906m	908m	905m
Filing	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Profit and loss, 12 fiscal years and the trailing twelve months

	FY2014 †	FY2015 †	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	TTM
Revenue	130,474	157,107	184,840	201,159	226,247	242,155	257,141	287,597	324,162	371,622	400,278	447,567	450,129
Cost of revenue	3,826	16,206	24,416	24,112	26,998	28,117	30,745	31,034	33,703	38,770	46,694	50,655	51,444
Gross profit	126,690	140,901	160,424	177,047	199,249	214,038	226,396	256,563	290,459	332,852	353,584	396,912	398,685
Gross margin	97.1%	89.7%	86.8%	88.0%	88.1%	88.4%	88.0%	89.2%	89.6%	89.6%	88.3%	88.7%	88.6%
Selling, general and administrative	21,263	24,312	28,401	29,557	34,074	35,193	41,704	42,579	47,782	54,628	53,013	59,592	61,878
Operating income	10,274	11,021	12,930	15,209	17,344	19,685	22,405	23,970	28,435	32,358	32,287	18,964	21,676
Operating margin	7.9%	7.0%	7.0%	7.6%	7.7%	8.1%	8.7%	8.3%	8.8%	8.7%	8.1%	4.2%	4.8%
Interest expense	618	790	1,067	1,186	1,400	1,704	1,663	1,660	2,092	3,246	3,906	4,002	3,894
Pre-tax income	9,656	10,231	11,863	14,023	15,944	17,981	20,742	22,310	26,343	29,112	20,071	14,697	17,440
Income tax	4,037	4,363	4,790	3,200	3,562	3,742	4,973	4,578	5,704	5,968	4,829	1,890	2,528
Effective tax rate	41.8%	42.6%	40.4%	22.8%	22.3%	20.8%	24.0%	20.5%	21.7%	20.5%	24.1%	12.9%	14.5%
Net income	5,619	5,813	7,017	10,558	11,986	13,839	15,403	17,285	20,120	22,381	14,405	12,056	14,122
Net margin	4.3%	3.7%	3.8%	5.2%	5.3%	5.7%	6.0%	6.0%	6.2%	6.0%	3.6%	2.7%	3.1%
Diluted EPS	$5.70	$6.01	$7.25	$10.72	$12.19	$14.33	$16.03	$18.08	$21.18	$23.86	$15.51	$13.23	n/a
Filing	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K

Income statement lines from each year's 10-K, the year linked to its filing; TTM is the sum of the last four quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. † The year as the company last restated it in a later filing; rest on a figure for the one first filed. EPS is as filed.

Cash flow and capital returned

	FY2014 †	FY2015 †	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	TTM
Operating cash flow	8,051	9,740	9,795	13,596	15,713	18,463	22,174	22,343	26,206	29,068	24,204	19,697	27,017
Capital expenditure	1,525	1,556	1,705	2,023	2,063	2,071	2,051	2,454	2,802	3,386	3,499	3,622	3,400
Free cash flow	6,526	8,184	8,090	11,573	13,650	16,392	20,123	19,889	23,404	25,682	20,705	16,075	23,617
Free cash flow margin	5.0%	5.2%	4.4%	5.8%	6.0%	6.8%	7.8%	6.9%	7.2%	6.9%	5.2%	3.6%	5.2%
Depreciation and amortisation	1,478	1,693	2,055	2,245	2,428	2,720	2,891	3,103	3,400	3,972	4,099	4,361	4,285
Share-based compensation	364	406	485	597	638	697	679	800	925	1,059	1,018	971	1,023
Buybacks	4,008	1,200	1,280	1,500	4,500	5,500	4,250	5,000	7,000	8,000	9,000	5,545	1,646
Dividends paid	1,362	1,786	2,261	2,773	3,320	3,932	4,584	5,280	5,991	6,761	7,533	7,916	8,096
Dividend per share	$1.41	$1.88	$2.38	$2.88	$3.45	$4.14	$4.83	$5.60	$6.40	$7.29	$8.18	$8.73	n/a
Diluted shares, weighted	986m	967m	968m	985m	983m	966m	961m	956m	950m	938m	929m	911m	906m
Shares outstanding at period end	954m	953m	952m	969m	960m	948m	946m	941m	934m	924m	915m	906m	905m
Filing	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K

Buybacks and dividends are the cash paid in the year, from the cash flow statement; the dividend per share is as declared. Diluted shares are the weighted average for the year; a falling count is the buybacks net of issuance. TTM sums the last four quarters; the share counts are the latest quarter's.

Balance sheet at year end

	FY2014 †	FY2015 †	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	TTM
Total assets	86,382	111,383	122,810	139,058	152,221	173,889	197,289	212,206	245,705	273,720	298,278	309,581	309,727
Cash and equivalents	7,495	10,923	10,430	11,981	10,866	10,985	16,921	21,375	23,365	25,427	25,312	24,365	28,585
Receivables	4,252	6,523	8,152	9,568	11,388	11,822	12,870	14,216	17,681	21,276	22,365	23,018	21,573
Inventory	n/a	n/a	n/a	n/a	n/a	n/a	n/a	2,900	3,500	2,800	3,800	3,300	n/a
Goodwill	32,940	44,453	47,584	54,556	58,910	65,659	71,337	75,795	93,352	103,732	106,734	110,499	110,645
Total debt, as filed	17,256	31,801	32,770	31,067	35,234	39,474	42,280	44,632	56,756	61,473	76,180	77,681	n/a
Long-term debt	16,007	25,331	25,777	28,835	34,581	36,808	38,648	42,383	54,513	58,263	72,359	72,320	69,501
Borrowings, as the company tags them	17,256	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Shareholders' equity	32,454	33,725	38,177	49,833	54,319	60,436	68,328	75,045	81,450	94,421	98,268	100,090	104,513
Filing	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K

At the fiscal year end; the TTM column is the latest quarter end. A line the company does not tag under the usual name is left out.

Compounded growth

	10 years	5 years	3 years	TTM
Sales growth, compounded	11.0%	11.7%	11.4%	6.5%
Profit growth, compounded	7.6%	-4.8%	-15.7%	-33.7%
Return on equity, average	20.5%	19.6%	16.8%	12.0%

Compounded growth is the latest fiscal year over the year that many years earlier, annualised; the TTM column is the last four quarters over the four before. Return on equity is net income over shareholders' equity at each year end, averaged over the window (the TTM column is the latest year alone); equity is the parent's shareholders' equity as tagged in the 10-K. Arithmetic on filed numbers, nothing forecast.

Peers: Hospital & Medical Service Plans

Company	Market cap	P/E	ROE	Op. margin	Sales growth TTM	Debt to equity	Div. yield
UnitedHealth Group Inc. UNH	$341.7 billion	24.29	13.5%	4.8%	6.5%	0.67	2.3%
Elevance Health, Inc. ELV	$88.8 billion	18.12	11.1%	2.7%	6.3%	0.69	1.7%
Cigna Group CI	$72.5 billion	11.36	15.1%	3.5%	7.8%	0.68	2.2%
Humana Inc. HUM	$45.5 billion	40.40	6.1%	1.8%	14.1%	0.66	0.9%
Centene Corp. CNC	$32.1 billion	n/a	-22.6%	-2.8%	13.9%	0.71	n/a

The names on this site in the same industry (the SEC's SIC description), by market capitalisation. Each figure is the same arithmetic as the ratio box above, on each company's own filings and latest close.

Filings

Filing	Period	Filed	Where
10-Q	30 June 2026	10 August 2026	EDGAR
10-Q	31 March 2026	5 May 2026	EDGAR
10-K	31 December 2025	2 March 2026	EDGAR
10-Q	30 September 2025	28 October 2025	EDGAR
10-Q	30 June 2025	11 August 2025	EDGAR
10-Q	31 March 2025	7 May 2025	EDGAR
10-K	31 December 2024	27 February 2025	EDGAR
10-Q	30 September 2024	4 November 2024	EDGAR
10-Q	30 June 2024	9 August 2024	EDGAR
10-Q	31 March 2024	9 May 2024	EDGAR

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