UnitedHealth Group reported full-year 2025 consolidated revenues of $447.6 billion, representing 12% year-over-year growth, alongside earnings from operations of $19.0 billion and a net margin of 2.7%. Cash flows from operations reached $19.7 billion, or 1.5 times net income, with earnings per share of $13.23 and adjusted earnings per share of $16.35.
For 2026, the company issued guidance including revenue greater than $439.0 billion, earnings from operations exceeding $24.0 billion, and adjusted earnings per share above $17.75. CEO Stephen Hemsley said the company “confronted challenges directly and finished 2025 as a much stronger company, giving us the momentum to better serve those who count on us and continue to improve our core performance.”
The results and outlook reflect UnitedHealth Group’s position as the largest U.S. healthcare company, operating through its UnitedHealthcare benefits division and Optum health services platform.