greeksoup/ stock research

UnitedHealth Group (UNH) FY2012 results: revenue $110.6 billion, up 8.6% on the year

UnitedHealth Group Inc. (UNH) reported revenue of $110.6 billion for fiscal 2012, the year ended 31 December 2012, up 8.6% on the year before. Net income was $5.5 billion, up 7.5%, and diluted earnings per share $5.28. The figures are the company's own, from the 10-K it filed with the SEC on 7 February 2013.

Revenue
$110.6 billion
+8.6% on the year
FY2007FY2012
Operating margin
8.4%
8.3% a year earlier
FY2007FY2012
Net income
$5.5 billion
+7.5% on the year
FY2007FY2012
Diluted EPS
$5.28
+11.6% on the year
FY2007FY2012

this yearthe year beforeHover a bar for its figure.

The year in brief

Income statement (profit and loss)

$ millionFY2012FY2011FY2010On the yearLast 8 years
Revenue110,618101,86294,155+8.6%
Cost of revenue2,5232,3852,116+5.8%
Gross profit108,09599,47792,039+8.7%
Gross margin97.7%97.7%97.8%
Selling, general and administrative17,30615,55714,270+11.2%
Operating income9,2548,4647,864+9.3%
Operating margin8.4%8.3%8.4%
Interest expense632505481+25.1%
Pre-tax income8,6227,9597,383+8.3%
Income tax3,0962,8172,749+9.9%
Effective tax rate35.9%35.4%37.2%
Net income5,5265,1424,634+7.5%
Net margin5.0%5.0%4.9%
Diluted EPS$5.28$4.73$4.10+11.6%
$ 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

$ millionFY2012FY2011FY2010On the yearLast 8 years
Operating cash flow7,1556,9686,273+2.7%
Capital expenditure1,0701,067878+0.3%
Free cash flow6,0855,9015,395+3.1%
Free cash flow margin5.5%5.8%5.7%
Cash from investing-8,649-4,172-5,339
Cash from financing471-2,490-1,611
Depreciation and amortisation1,3091,1241,064+16.5%
Share-based compensation421401326+5.0%
Buybacks3,0842,9942,517+3.0%
Dividends paid820651449+26.0%
Dividend per share$0.80$0.61$0.41+30.6%
Diluted shares, weighted1,046m1,087m1,131m-3.8%
Shares outstanding at period end1,019m1,039m1,086m-1.9%

Balance sheet

$ millionFY2012FY2011FY2010On the yearLast 8 years
Shareholders' equity31,17828,29225,825+10.2%
Redeemable equity2,1210.0n/a
Debt16,75411,63811,142+44.0%
Other liabilities30,83227,95926,096+10.3%
Total liabilities and equity80,88567,88963,063+19.1%
Fixed assets3,9392,5152,200+56.6%
Goodwill31,28623,97522,745+30.5%
Intangible assets4,6822,7952,910+67.5%
Investments20,74218,74316,779+10.7%
Cash and equivalents8,4069,4299,123-10.8%
Receivables2,7092,2942,061+18.1%
Other assets9,1218,1387,245+12.1%
Total assets80,88567,88963,063+19.1%

10-K for the year ended 31 December 2012, filed 7 February 2013: the filing.