UnitedHealth Q4 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
- Oct 1 – Dec 31, 2025
- Reported
- Mar 2, 2026
Revenue$113.22B
+12% year over year
Gross profit$100.54B
89% margin
Operating profit$0.38B
0% margin
Net profit$0.01B
0% margin
The numbers
| Item | Value | Share of revenue | Year over year |
|---|---|---|---|
| Revenue | 113.22 | 100% | +12% |
| Products | 53.38 | 47% | +6% |
| Services | 38.04 | 34% | +6% |
| Optum insight | 19.42 | 17% | +4% |
| Other revenue | 2.38 | 2% | |
| Cost of revenue | −12.68 | 11% | |
| Gross profit | 100.54 | 89% margin | +1pp |
| SG&A | −17.00 | 15% | +3pp |
| Other | −83.16 | 73% | +0pp |
| Operating profit | 0.38 | 0% margin | −7pp |
| Interest & other costs | −1.31 | ||
| Tax benefit | 0.94 | ||
| Net profit | 0.01 | 0% margin | −5pp |
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