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)
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Revenue
110,618
101,862
94,155
+8.6%
Cost of revenue
2,523
2,385
2,116
+5.8%
Gross profit
108,095
99,477
92,039
+8.7%
Gross margin
97.7%
97.7%
97.8%
Selling, general and administrative
17,306
15,557
14,270
+11.2%
Operating income
9,254
8,464
7,864
+9.3%
Operating margin
8.4%
8.3%
8.4%
Interest expense
632
505
481
+25.1%
Pre-tax income
8,622
7,959
7,383
+8.3%
Income tax
3,096
2,817
2,749
+9.9%
Effective tax rate
35.9%
35.4%
37.2%
Net income
5,526
5,142
4,634
+7.5%
Net margin
5.0%
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
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Operating cash flow
7,155
6,968
6,273
+2.7%
Capital expenditure
1,070
1,067
878
+0.3%
Free cash flow
6,085
5,901
5,395
+3.1%
Free cash flow margin
5.5%
5.8%
5.7%
Cash from investing
-8,649
-4,172
-5,339
Cash from financing
471
-2,490
-1,611
Depreciation and amortisation
1,309
1,124
1,064
+16.5%
Share-based compensation
421
401
326
+5.0%
Buybacks
3,084
2,994
2,517
+3.0%
Dividends paid
820
651
449
+26.0%
Dividend per share
$0.80
$0.61
$0.41
+30.6%
Diluted shares, weighted
1,046m
1,087m
1,131m
-3.8%
Shares outstanding at period end
1,019m
1,039m
1,086m
-1.9%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
31,178
28,292
25,825
+10.2%
Redeemable equity
2,121
0.0
n/a
Debt
16,754
11,638
11,142
+44.0%
Other liabilities
30,832
27,959
26,096
+10.3%
Total liabilities and equity
80,885
67,889
63,063
+19.1%
Fixed assets
3,939
2,515
2,200
+56.6%
Goodwill
31,286
23,975
22,745
+30.5%
Intangible assets
4,682
2,795
2,910
+67.5%
Investments
20,742
18,743
16,779
+10.7%
Cash and equivalents
8,406
9,429
9,123
-10.8%
Receivables
2,709
2,294
2,061
+18.1%
Other assets
9,121
8,138
7,245
+12.1%
Total assets
80,885
67,889
63,063
+19.1%
10-K for the year ended 31 December 2012, filed 7 February 2013: the filing.