UnitedHealth Group (UNH) FY2017 results: revenue $201.2 billion, up 8.8% on the year
UnitedHealth Group Inc. (UNH) reported revenue of $201.2 billion for fiscal 2017, the year ended 31 December 2017, up 8.8% on the year before. Net income was $10.6 billion, up 50.5%, and diluted earnings per share $10.72. The figures are the company's own, from the 10-K it filed with the SEC on 13 February 2018.
Revenue
$201.2 billion
+8.8% on the year
FY2010FY2017
Operating margin
7.6%
7.0% a year earlier
FY2010FY2017
Net income
$10.6 billion
+50.5% on the year
FY2010FY2017
Diluted EPS
$10.72
+47.9% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
201,159
184,840
157,107
+8.8%
Cost of revenue
24,112
24,416
16,206
-1.2%
Gross profit
177,047
160,424
140,901
+10.4%
Gross margin
88.0%
86.8%
89.7%
Selling, general and administrative
29,557
28,401
24,312
+4.1%
Operating income
15,209
12,930
11,021
+17.6%
Operating margin
7.6%
7.0%
7.0%
Interest expense
1,186
1,067
790
+11.2%
Pre-tax income
14,023
11,863
10,231
+18.2%
Income tax
3,200
4,790
4,363
-33.2%
Effective tax rate
22.8%
40.4%
42.6%
Net income
10,558
7,017
5,813
+50.5%
Net margin
5.2%
3.8%
3.7%
Diluted EPS
$10.72
$7.25
$6.01
+47.9%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
13,596
9,795
9,740
+38.8%
Capital expenditure
2,023
1,705
1,556
+18.7%
Free cash flow
11,573
8,090
8,184
+43.1%
Free cash flow margin
5.8%
4.4%
5.2%
Cash from investing
-8,599
-9,355
-18,395
Cash from financing
-3,441
-1,011
12,239
Depreciation and amortisation
2,245
2,055
1,693
+9.2%
Share-based compensation
597
485
406
+23.1%
Buybacks
1,500
1,280
1,200
+17.2%
Dividends paid
2,773
2,261
1,786
+22.6%
Dividend per share
$2.88
$2.38
$1.88
+21.1%
Diluted shares, weighted
985m
968m
967m
+1.8%
Shares outstanding at period end
969m
952m
953m
+1.8%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
49,833
38,177
33,725
+30.5%
Redeemable equity
2,189
2,012
1,736
+8.8%
Debt
31,692
32,970
31,965
-3.9%
Other liabilities
55,344
49,651
43,957
+11.5%
Total liabilities and equity
139,058
122,810
111,383
+13.2%
Fixed assets
7,013
5,901
4,861
+18.8%
Goodwill
54,556
47,584
44,453
+14.7%
Intangible assets
8,489
8,541
8,391
-0.6%
Investments
31,850
26,713
20,780
+19.2%
Cash and equivalents
11,981
10,430
10,923
+14.9%
Receivables
9,568
8,152
6,523
+17.4%
Other assets
15,601
15,489
15,452
+0.7%
Total assets
139,058
122,810
111,383
+13.2%
10-K for the year ended 31 December 2017, filed 13 February 2018: the filing.