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Screener / SEC EDGAR /CIK 0000731766 /10-K filed Mar 2, 2026, compared with Feb 27, 2025 /Numbers from the XBRL of the 10-Ks
Health care peers:
CICAHCORCVSMCKUNH
NYSE Health care · Health Insurance

UnitedHealth Group UNH

UNH quote by TradingView

UnitedHealth Group Incorporated is a health care and well-being company with a mission to help people live healthier lives and help make the health system work better for everyone. 10-K, Item 1

Employees
390,000
Headquarters
Eden Prairie, MN
CEO
Stephen J. Hemsley
Next results
around Jan 26, 2027
Compare with peers Embed

Where each dollar of revenue went, FY2025

Revenue of $447.6B through the costs to a net profit of $12.1B · income statement of the 10-K

4% operating margin
Revenue to Gross profit: $396.9BRevenue to Cost of revenue: $50.7BGross profit to Operating profit: $19.0BGross profit to Operating expenses: $377.9BOperating profit to Net profit: $12.1BOperating profit to Tax & other: $6.9B Revenue: $447.6B REVENUE $447.6B +12% Y/Y Gross profit: $396.9B · 89% margin GROSS PROFIT $396.9B 89% margin Cost of revenue: $50.7B · 11% of revenue COST OF REVENUE $50.7B 11% of revenue Operating profit: $19.0B · 4% margin OPERATING PROFIT $19.0B 4% margin · −41% Y/Y Operating expenses: $377.9B · 84% of revenue OPERATING EXPENSES $377.9B 84% of revenue Net profit: $12.1B · 3% margin NET PROFIT $12.1B 3% margin · −16% Y/Y Tax & other: $6.9B · 2% of revenue TAX & OTHER $6.9B 2% of revenue
Gross profit $396.9B 89% margin
Operating profit $19.0B 4% margin · −41% Y/Y
Net profit $12.1B 3% margin · −16% Y/Y
The full income statement, year by year

UNH among Health care peers

Six ratios from the latest 10-K. Each corner is the share of 59 peers the company is above, not a score.

Compare
Revenue growth: 11.8%, above 81% of 59 peers (their median 7.1%) REVENUE GROWTH 11.8% · above 81% Gross margin: 88.3%, above 96% of 50 peers (their median 64.2%) GROSS MARGIN 88.3% · above 96% Operating margin: 5.3%, above 30% of 50 peers (their median 13.7%) OPERATING MARGIN 5.3% · above 30% Net margin: 3.5%, above 29% of 59 peers (their median 9.7%) NET MARGIN 3.5% · above 29% FCF margin: 5.1%, above 18% of 55 peers (their median 15.8%) FCF MARGIN 5.1% · above 18% Return on capital: 9.3%, above 54% of 41 peers (their median 9.0%) RETURN ON CAPITAL 9.3% · above 54%
UNH Peer median Below the median

What changed

5 new risk paragraphs and 1 accounting fact worth reading about. 10-K filed Mar 2, 2026 against Feb 27, 2025.

Risk factors
5 new paragraphs, nothing like them in the previous 10-K
10-K Item 1A
Critical audit matters changed
New this year: March 2, 2026. No longer listed: February 27, 2025. Same as last year: Minneapolis, Minnesota
10-K · XBRL
Accounting checks
9 other checks clear, 1 worth a look
10-K · XBRL
Insiders
No open-market buys in the last 90 days
Form 4
Filings
2 in the last 30 days
EDGAR

Each row opens the detail with the quote and the filing. A row is a change worth reading, not a verdict.

Accounting checks

10 checks on the latest 10-K. Checks, not verdicts.

How it works

1fact worth reading about the other 9 checks found nothing to note

  • Critical audit matters changed
    New this year: March 2, 2026. No longer listed: February 27, 2025. Same as last year: Minneapolis, Minnesota
  • Receivables +2.9% vs revenue +11.8% (-8.9 pts)
8 more checks with nothing to note
  • Inventory -13.2% vs revenue +11.8% (-25.0 pts)
  • Same auditor in both 10-Ks: DELOITTE & TOUCHE LLP
  • No statement of substantial doubt about going concern
  • No 8-K item 4.02 in the last 2 years
  • No NT 10-K or NT 10-Q in the last 2 years
  • No sentence in the 10-K concludes that controls were not effective because of a material weakness
  • No 8-K item 2.06 in the last 2 years
  • No 8-K item 1.03 in the last 2 years

In their words

5 paragraphs in Risk Factors that were not in the 10-K filed Feb 27, 2025. Quoted as filed.

All 5 new paragraphs
  1. Item 1A · new paragraph · not in the 10-K filed Feb 27, 2025 10-K, ITEM 1A
    The risks and uncertainties discussed below are not the only risks we may face. There may be risks and uncertainties not currently known to us or that we may deem to be immaterial that could materially and adversely affect our business, results of operations, financial position, cash flows and prospects.
  2. Item 1A · new paragraph · not in the 10-K filed Feb 27, 2025 10-K, ITEM 1A
    In addition, our success in the health care marketplace and future growth depends on our ability to develop and deliver innovative and potentially disruptive products and services to satisfy evolving market demands. If we do not continue to
  3. Item 1A · new paragraph · not in the 10-K filed Feb 27, 2025 10-K, ITEM 1A
    Our increasing use of AI presents legal, regulatory and business risks to our operations, reputation and financial results.
  4. Item 1A · new paragraph · not in the 10-K filed Feb 27, 2025 10-K, ITEM 1A
    We increasingly rely on new and evolving technologies, including those powered by or incorporating AI, as part of our internal operations and in the delivery of our products and services. AI technologies are subject to evolving and uncertain U.S. federal, state, and international laws and regulations. Emerging requirements may impose…

New risk paragraphs, against peers

Latest 10-K of each, Health care companies closest in revenue

Paragraphs in Risk Factors with nothing like them in the company's 10-K the year before. A count of text, not of risk.

Financial performance

Last 4 fiscal years · 10-K XBRL

All years
MetricFY2022FY2023FY2024FY2025
Revenue$324.2B$371.6B$400.3B$447.6B
Net income$20.1B$22.4B$14.4B$12.1B
Operating cash flow$26.2B$29.1B$24.2B$19.7B
Free cash flow$23.4B$25.7B$20.7B$16.1B

Revenue, FY2016 to FY2025

Ten fiscal years, each from its own 10-K · XBRL · USD

$447.6B ▲ 11.8% in FY2025

FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Every number, year by year

Recent filings

2 filings in the last 30 days · SEC EDGAR

All filings

About the company

UnitedHealth Group, Eden Prairie, MN · from the 10-K filed Mar 2, 2026

UnitedHealth Group Incorporated is a health care and well-being company with a mission to help people live healthier lives and help make the health system work better for everyone. Our two distinct, yet complementary businesses - Optum and UnitedHealthcare - are working to help build a modern, high-performing health system through improved access, affordability, outcomes and experiences for the individuals and organizations we are privileged to serve.

Headquarters
Eden Prairie, MN
Country
United States
Reports in
USD
Listed on
NYSE
Fiscal year ends
December 31
Last results
Oct 13, 2026
Incorporated in
DE

Employees, at the top of the page: "As of December 31, 2025, we had more than 390,000 employees, of whom nearly 165,000 were clinical professionals" (10-K). Address and exchange: SEC's company file.

Email alerts

Sources

The 10-K filed Mar 2, 2026 (open at SEC), compared with the 10-K filed Feb 27, 2025. Numbers from the XBRL of the 10-Ks; filings from SEC EDGAR.

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