UnitedHealth Group (UNH) FY2024 results: revenue $400.3 billion, up 7.7% on the year
UnitedHealth Group Inc. (UNH) reported revenue of $400.3 billion for fiscal 2024, the year ended 31 December 2024, up 7.7% on the year before. Net income was $14.4 billion, down 35.6%, and diluted earnings per share $15.51. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2025.
Revenue
$400.3 billion
+7.7% on the year
FY2017FY2024
Operating margin
8.1%
8.7% a year earlier
FY2017FY2024
Net income
$14.4 billion
-35.6% on the year
FY2017FY2024
Diluted EPS
$15.51
-35.0% on the year
FY2017FY2024
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
FY2024
FY2023
FY2022
On the year
Last 8 years
Operating cash flow
24,204
29,068
26,206
-16.7%
Capital expenditure
3,499
3,386
2,802
+3.3%
Free cash flow
20,705
25,682
23,404
-19.4%
Free cash flow margin
5.2%
6.9%
7.2%
Cash from investing
-20,527
-15,574
-28,476
Cash from financing
-3,512
-11,529
4,226
Depreciation and amortisation
4,099
3,972
3,400
+3.2%
Share-based compensation
1,018
1,059
925
-3.9%
Buybacks
9,000
8,000
7,000
+12.5%
Dividends paid
7,533
6,761
5,991
+11.4%
Dividend per share
$8.18
$7.29
$6.40
+12.2%
Diluted shares, weighted
929m
938m
950m
-1.0%
Shares outstanding at period end
915m
924m
934m
-1.0%
Balance sheet
$ million
FY2024
FY2023
FY2022
On the year
Last 8 years
Shareholders' equity
98,268
94,421
81,450
+4.1%
Redeemable equity
4,323
4,498
4,897
-3.9%
Debt
76,904
62,537
57,623
+23.0%
Other liabilities
118,783
112,264
101,735
+5.8%
Total liabilities and equity
298,278
273,720
245,705
+9.0%
Fixed assets
10,553
11,450
10,128
-7.8%
Goodwill
106,734
103,732
93,352
+2.9%
Intangible assets
23,268
15,194
14,401
+53.1%
Investments
56,155
51,810
48,274
+8.4%
Cash and equivalents
25,312
25,427
23,365
-0.5%
Receivables
22,365
21,276
17,681
+5.1%
Inventory
3,800
2,800
3,500
+35.7%
Other assets
50,091
42,031
35,004
+19.2%
Total assets
298,278
273,720
245,705
+9.0%
10-K for the year ended 31 December 2024, filed 27 February 2025: the filing.