UnitedHealth Group (UNH) FY2023 results: revenue $371.6 billion, up 14.6% on the year
UnitedHealth Group Inc. (UNH) reported revenue of $371.6 billion for fiscal 2023, the year ended 31 December 2023, up 14.6% on the year before. Net income was $22.4 billion, up 11.2%, and diluted earnings per share $23.86. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2024.
Revenue
$371.6 billion
+14.6% on the year
FY2016FY2023
Operating margin
8.7%
8.8% a year earlier
FY2016FY2023
Net income
$22.4 billion
+11.2% on the year
FY2016FY2023
Diluted EPS
$23.86
+12.7% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ 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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
29,068
26,206
22,343
+10.9%
Capital expenditure
3,386
2,802
2,454
+20.8%
Free cash flow
25,682
23,404
19,889
+9.7%
Free cash flow margin
6.9%
7.2%
6.9%
Cash from investing
-15,574
-28,476
-10,372
Cash from financing
-11,529
4,226
-7,455
Depreciation and amortisation
3,972
3,400
3,103
+16.8%
Share-based compensation
1,059
925
800
+14.5%
Buybacks
8,000
7,000
5,000
+14.3%
Dividends paid
6,761
5,991
5,280
+12.9%
Dividend per share
$7.29
$6.40
$5.60
+13.9%
Diluted shares, weighted
938m
950m
956m
-1.3%
Shares outstanding at period end
924m
934m
941m
-1.1%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
94,421
81,450
75,045
+15.9%
Redeemable equity
4,498
4,897
1,434
-8.1%
Debt
62,537
57,623
46,003
+8.5%
Other liabilities
112,264
101,735
89,724
+10.3%
Total liabilities and equity
273,720
245,705
212,206
+11.4%
Fixed assets
11,450
10,128
8,969
+13.1%
Goodwill
103,732
93,352
75,795
+11.1%
Intangible assets
15,194
14,401
10,044
+5.5%
Investments
51,810
48,274
45,646
+7.3%
Cash and equivalents
25,427
23,365
21,375
+8.8%
Receivables
21,276
17,681
14,216
+20.3%
Inventory
2,800
3,500
2,900
-20.0%
Other assets
42,031
35,004
33,261
+20.1%
Total assets
273,720
245,705
212,206
+11.4%
10-K for the year ended 31 December 2023, filed 28 February 2024: the filing.