UnitedHealth Q3 FY25: where the revenue came from and where it went
The whole income statement of UnitedHealth for this quarter, as one diagram: what earned the revenue, and what it went on.
- Period
- Jul 1 – Sep 30, 2025
- Reported
- Oct 28, 2025
Revenue$113.16B
+12% year over year
Gross profit$100.60B
89% margin
Operating profit$4.32B
4% margin
Net profit$2.35B
2% margin
The numbers
| Item | Value | Share of revenue | Year over year |
|---|---|---|---|
| Revenue | 113.16 | 100% | +12% |
| UnitedHealthcare | 87.07 | 77% | +16% |
| Optum health | 25.90 | 23% | +0% |
| Other and unallocated | 0.19 | 0% | |
| Cost of revenue | −12.57 | 11% | |
| Gross profit | 100.60 | 89% margin | +1pp |
| SG&A | −15.22 | 13% | +0pp |
| Other | −81.06 | 72% | +0pp |
| Operating profit | 4.32 | 4% margin | −5pp |
| Interest & other costs | −1.28 | ||
| Tax | −0.69 | ||
| Net profit | 2.35 | 2% margin | −4pp |
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