UnitedHealth Group (UNH) FY2013 results: revenue $122.5 billion, up 10.7% on the year
UnitedHealth Group Inc. (UNH) reported revenue of $122.5 billion for fiscal 2013, the year ended 31 December 2013, up 10.7% on the year before. Net income was $5.6 billion, up 1.8%, and diluted earnings per share $5.50. The figures are the company's own, from the 10-K it filed with the SEC on 12 February 2014.
Revenue
$122.5 billion
+10.7% on the year
FY2007FY2013
Operating margin
7.9%
8.4% a year earlier
FY2007FY2013
Net income
$5.6 billion
+1.8% on the year
FY2007FY2013
Diluted EPS
$5.50
+4.2% on the year
FY2007FY2013
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Revenue
122,489
110,618
101,862
+10.7%
Cost of revenue
2,891
2,523
2,385
+14.6%
Gross profit
119,598
108,095
99,477
+10.6%
Gross margin
97.6%
97.7%
97.7%
Selling, general and administrative
18,941
17,306
15,557
+9.4%
Operating income
9,623
9,254
8,464
+4.0%
Operating margin
7.9%
8.4%
8.3%
Interest expense
708
632
505
+12.0%
Pre-tax income
8,915
8,622
7,959
+3.4%
Income tax
3,242
3,096
2,817
+4.7%
Effective tax rate
36.4%
35.9%
35.4%
Net income
5,625
5,526
5,142
+1.8%
Net margin
4.6%
5.0%
5.0%
Diluted EPS
$5.50
$5.28
$4.73
+4.2%
$ 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
FY2013
FY2012
FY2011
On the year
Last 8 years
Operating cash flow
6,991
7,155
6,968
-2.3%
Capital expenditure
1,307
1,070
1,067
+22.1%
Free cash flow
5,684
6,085
5,901
-6.6%
Free cash flow margin
4.6%
5.5%
5.8%
Cash from investing
-3,089
-8,649
-4,172
Cash from financing
-4,946
471
-2,490
Depreciation and amortisation
1,375
1,309
1,124
+5.0%
Share-based compensation
331
421
401
-21.4%
Buybacks
3,170
3,084
2,994
+2.8%
Dividends paid
1,056
820
651
+28.8%
Dividend per share
$1.05
$0.80
$0.61
+31.6%
Diluted shares, weighted
1,023m
1,046m
1,087m
-2.2%
Shares outstanding at period end
988m
1,019m
1,039m
-3.0%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
32,149
31,178
28,292
+3.1%
Redeemable equity
1,175
2,121
0.0
-44.6%
Debt
16,860
16,754
11,638
+0.6%
Other liabilities
31,698
30,832
27,959
+2.8%
Total liabilities and equity
81,882
80,885
67,889
+1.2%
Fixed assets
4,010
3,939
2,515
+1.8%
Goodwill
31,604
31,286
23,975
+1.0%
Intangible assets
3,844
4,682
2,795
-17.9%
Investments
21,542
20,742
18,743
+3.9%
Cash and equivalents
7,276
8,406
9,429
-13.4%
Receivables
3,052
2,709
2,294
+12.7%
Other assets
10,554
9,121
8,138
+15.7%
Total assets
81,882
80,885
67,889
+1.2%
10-K for the year ended 31 December 2013, filed 12 February 2014: the filing.