UnitedHealth Group (UNH) FY2015 results: revenue $157.1 billion, up 20.4% on the year
UnitedHealth Group Inc. (UNH) reported revenue of $157.1 billion for fiscal 2015, the year ended 31 December 2015, up 20.4% on the year before. Net income was $5.8 billion, up 3.5%, and diluted earnings per share $6.01. The figures are the company's own, from the 10-K it filed with the SEC on 9 February 2016.
Revenue
$157.1 billion
+20.4% on the year
FY2008FY2015
Operating margin
7.0%
7.9% a year earlier
FY2008FY2015
Net income
$5.8 billion
+3.5% on the year
FY2008FY2015
Diluted EPS
$6.01
+5.4% on the year
FY2008FY2015
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Revenue
157,107
130,474
122,489
+20.4%
Cost of revenue
16,206
3,826
2,891
+323.6%
Gross profit
140,901
126,648
119,598
+11.3%
Gross margin
89.7%
97.1%
97.6%
Selling, general and administrative
24,312
21,263
18,941
+14.3%
Operating income
11,021
10,274
9,623
+7.3%
Operating margin
7.0%
7.9%
7.9%
Interest expense
790
618
708
+27.8%
Pre-tax income
10,231
9,656
8,915
+6.0%
Income tax
4,363
4,037
3,242
+8.1%
Effective tax rate
42.6%
41.8%
36.4%
Net income
5,813
5,619
5,625
+3.5%
Net margin
3.7%
4.3%
4.6%
Diluted EPS
$6.01
$5.70
$5.50
+5.4%
$ 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
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
9,740
8,051
6,991
+21.0%
Capital expenditure
1,556
1,525
1,307
+2.0%
Free cash flow
8,184
6,526
5,684
+25.4%
Free cash flow margin
5.2%
5.0%
4.6%
Cash from investing
-18,395
-2,534
-3,089
Cash from financing
12,239
-5,293
-4,946
Depreciation and amortisation
1,693
1,478
1,375
+14.5%
Share-based compensation
406
364
331
+11.5%
Buybacks
1,200
4,008
3,170
-70.1%
Dividends paid
1,786
1,362
1,056
+31.1%
Dividend per share
$1.88
$1.41
$1.05
+33.5%
Diluted shares, weighted
967m
986m
1,023m
-1.9%
Shares outstanding at period end
953m
954m
988m
-0.1%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
33,725
32,454
32,149
+3.9%
Non-controlling interest
n/a
0.0
n/a
Redeemable equity
1,736
1,388
1,175
+25.1%
Debt
31,965
17,406
16,860
+83.6%
Other liabilities
43,957
35,134
31,698
+25.1%
Total liabilities and equity
111,383
86,382
81,882
+28.9%
Fixed assets
4,861
4,418
4,010
+10.0%
Goodwill
44,453
32,940
31,604
+35.0%
Intangible assets
8,391
3,669
3,844
+128.7%
Investments
20,780
20,568
21,542
+1.0%
Cash and equivalents
10,923
7,495
7,276
+45.7%
Receivables
6,523
4,252
3,052
+53.4%
Other assets
15,452
13,040
10,554
+18.5%
Total assets
111,383
86,382
81,882
+28.9%
10-K for the year ended 31 December 2015, filed 9 February 2016: the filing.