UnitedHealth Group (UNH) FY2010 results: revenue $94.2 billion, up 8.1% on the year
UnitedHealth Group Inc. (UNH) reported revenue of $94.2 billion for fiscal 2010, the year ended 31 December 2010, up 8.1% on the year before. Net income was $4.6 billion, up 21.2%, and diluted earnings per share $4.10. The figures are the company's own, from the 10-K it filed with the SEC on 10 February 2011.
Revenue
$94.2 billion
+8.1% on the year
FY2007FY2010
Operating margin
8.4%
7.3% a year earlier
FY2007FY2010
Net income
$4.6 billion
+21.2% on the year
FY2007FY2010
Diluted EPS
$4.10
+26.5% on the year
FY2007FY2010
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2010
FY2009
FY2008
On the year
Last 8 years
Revenue
94,155
87,138
81,186
+8.1%
Cost of revenue
2,116
1,765
1,480
+19.9%
Gross profit
92,039
85,373
79,706
+7.8%
Gross margin
97.8%
98.0%
98.2%
Selling, general and administrative
14,270
12,734
13,103
+12.1%
Operating income
7,864
6,359
5,263
+23.7%
Operating margin
8.4%
7.3%
6.5%
Interest expense
481
551
639
-12.7%
Pre-tax income
7,383
5,808
4,624
+27.1%
Income tax
2,749
1,986
1,647
+38.4%
Effective tax rate
37.2%
34.2%
35.6%
Net income
4,634
3,822
2,977
+21.2%
Net margin
4.9%
4.4%
3.7%
Diluted EPS
$4.10
$3.24
$2.40
+26.5%
$ million except per share. Read moreFree 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.
Cash flow
$ million
FY2010
FY2009
FY2008
On the year
Last 8 years
Operating cash flow
6,273
5,625
4,238
+11.5%
Capital expenditure
878
739
791
+18.8%
Free cash flow
5,395
4,886
3,447
+10.4%
Free cash flow margin
5.7%
5.6%
4.2%
Cash from investing
-5,339
-976
-5,072
Cash from financing
-1,611
-2,275
-605
Depreciation and amortisation
1,064
991
981
+7.4%
Share-based compensation
326
334
305
-2.4%
Buybacks
2,517
1,801
2,684
+39.8%
Dividends paid
449
36.0
37.0
+1,147.2%
Dividend per share
$0.41
$0.03
$0.03
+1,250.0%
Diluted shares, weighted
1,131m
1,179m
1,241m
-4.1%
Shares outstanding at period end
1,086m
1,147m
1,201m
-5.3%
Balance sheet
$ million
FY2010
FY2009
FY2008
On the year
Last 8 years
Shareholders' equity
25,825
23,606
20,780
+9.4%
Debt
11,142
11,173
12,794
-0.3%
Other liabilities
26,096
24,266
22,241
+7.5%
Total liabilities and equity
63,063
59,045
55,815
+6.8%
Fixed assets
2,200
946
2,181
+132.6%
Goodwill
22,745
20,727
20,088
+9.7%
Intangible assets
2,910
2,381
2,329
+22.2%
Investments
16,779
14,550
14,149
+15.3%
Cash and equivalents
9,123
9,800
7,426
-6.9%
Receivables
2,061
1,954
1,929
+5.5%
Other assets
7,245
8,687
7,713
-16.6%
Total assets
63,063
59,045
55,815
+6.8%
10-K for the year ended 31 December 2010, filed 10 February 2011: the filing.