Unitedhealth Group annual debt-to-equity ratio
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2025
Unitedhealth Group Debt-to-Equity Ratio Growth & History (UNH)
Unitedhealth Group's debt-to-equity ratio was 0.82 for fiscal 2025.
View full Unitedhealth Group company overviewUnitedhealth Group annual debt-to-equity ratio history
| Fiscal year | Period ended | Debt-to-equity ratio | Change | Growth |
|---|---|---|---|---|
| 2025 | 2025-12-31 | 0.82 | −0.00 | −0.33% |
| 2024 | 2024-12-31 | 0.82 | 0.12 | +17.36% |
| 2023 | 2023-12-31 | 0.70 | −0.05 | −7.04% |
| 2022 | 2022-12-31 | 0.76 | 0.16 | +27.14% |
| 2021 | 2021-12-31 | 0.59 | −0.02 | −3.89% |
| 2020 | 2020-12-31 | 0.62 | −0.10 | −13.90% |
| 2019 | 2019-12-31 | 0.72 | 0.07 | +10.79% |
| 2018 | 2018-12-31 | 0.65 | 0.03 | +4.05% |
| 2017 | 2017-12-31 | 0.62 | −0.23 | −27.37% |
| 2016 | 2016-12-31 | 0.86 | −0.08 | −8.97% |
| 2015 | 2015-12-31 | 0.94 | 0.41 | +77.34% |
| 2014 | 2014-12-31 | 0.53 | 0.01 | +1.39% |
| 2013 | 2013-12-31 | 0.52 | −0.01 | −2.41% |
| 2012 | 2012-12-31 | 0.54 | 0.13 | +30.63% |
| 2011 | 2011-12-31 | 0.41 | −0.02 | −4.66% |
| 2010 | 2010-12-31 | 0.43 | −0.04 | −8.85% |
| 2009 | 2009-12-31 | 0.47 | −0.14 | −23.12% |
| 2008 | 2008-12-31 | 0.62 | — | — |
Unitedhealth Group quarterly debt-to-equity ratio
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| Fiscal quarter | Period ended | Debt-to-equity ratio | Change | YoY change |
|---|---|---|---|---|
| Q2 2026 | 2026-06-30 | 0.70 | −0.09 | −10.99% |
| Q1 2026 | 2026-03-31 | 0.75 | −0.06 | −6.97% |
| Q4 2025 | 2025-12-31 | 0.82 | −0.00 | −0.33% |
| Q3 2025 | 2025-09-30 | 0.79 | 0.01 | +1.02% |
| Q2 2025 | 2025-06-30 | 0.79 | −0.00 | −0.63% |
| Q1 2025 | 2025-03-31 | 0.81 | 0.01 | +1.13% |
| Q4 2024 | 2024-12-31 | 0.82 | 0.12 | +17.36% |
| Q3 2024 | 2024-09-30 | 0.78 | 0.07 | +10.39% |
| Q2 2024 | 2024-06-30 | 0.79 | 0.04 | +5.66% |
| Q1 2024 | 2024-03-31 | 0.80 | −0.03 | −3.08% |
| Q4 2023 | 2023-12-31 | 0.70 | −0.05 | −7.04% |
| Q3 2023 | 2023-09-30 | 0.71 | 0.08 | +13.49% |
| Q2 2023 | 2023-06-30 | 0.75 | 0.08 | +11.32% |
| Q1 2023 | 2023-03-31 | 0.82 | 0.20 | +31.84% |
| Q4 2022 | 2022-12-31 | 0.76 | 0.16 | +27.14% |
| Q3 2022 | 2022-09-30 | 0.62 | −0.02 | −2.75% |
| Q2 2022 | 2022-06-30 | 0.67 | 0.00 | +0.73% |
| Q1 2022 | 2022-03-31 | 0.62 | −0.03 | −4.14% |
| Q4 2021 | 2021-12-31 | 0.59 | −0.02 | −3.89% |
| Q3 2021 | 2021-09-30 | 0.64 | 0.01 | +2.34% |
| Q2 2021 | 2021-06-30 | 0.67 | −0.01 | −0.94% |
| Q1 2021 | 2021-03-31 | 0.65 | −0.19 | −22.87% |
| Q4 2020 | 2020-12-31 | 0.62 | −0.10 | −13.90% |
| Q3 2020 | 2020-09-30 | 0.63 | −0.20 | −24.06% |
| Q2 2020 | 2020-06-30 | 0.68 | −0.13 | −16.31% |
| Q1 2020 | 2020-03-31 | 0.84 | 0.10 | +13.24% |
| Q4 2019 | 2019-12-31 | 0.72 | 0.07 | +10.79% |
| Q3 2019 | 2019-09-30 | 0.82 | 0.21 | +34.74% |
| Q2 2019 | 2019-06-30 | 0.81 | 0.14 | +21.73% |
| Q1 2019 | 2019-03-31 | 0.75 | 0.06 | +9.12% |
| Q4 2018 | 2018-12-31 | 0.65 | 0.03 | +4.05% |
| Q3 2018 | 2018-09-30 | 0.61 | 0.00 | +0.43% |
| Q2 2018 | 2018-06-30 | 0.66 | −0.03 | −4.67% |
| Q1 2018 | 2018-03-31 | 0.68 | −0.07 | −9.54% |
| Q4 2017 | 2017-12-31 | 0.62 | −0.23 | −27.37% |
| Q3 2017 | 2017-09-30 | 0.61 | −0.27 | −30.69% |
| Q2 2017 | 2017-06-30 | 0.70 | −0.21 | −23.52% |
| Q1 2017 | 2017-03-31 | 0.75 | −0.20 | −21.11% |
| Q4 2016 | 2016-12-31 | 0.86 | −0.08 | −8.97% |
| Q3 2016 | 2016-09-30 | 0.88 | −0.08 | −7.95% |
| Q2 2016 | 2016-06-30 | 0.91 | 0.36 | +66.26% |
| Q1 2016 | 2016-03-31 | 0.96 | 0.38 | +66.00% |
| Q4 2015 | 2015-12-31 | 0.94 | 0.41 | +77.34% |
| Q3 2015 | 2015-09-30 | 0.96 | 0.42 | +77.84% |
| Q2 2015 | 2015-06-30 | 0.55 | 0.04 | +7.63% |
| Q1 2015 | 2015-03-31 | 0.58 | 0.06 | +11.90% |
| Q4 2014 | 2014-12-31 | 0.53 | 0.01 | +1.39% |
| Q3 2014 | 2014-09-30 | 0.54 | 0.01 | +2.49% |
| Q2 2014 | 2014-06-30 | 0.51 | −0.02 | −4.04% |
| Q1 2014 | 2014-03-31 | 0.52 | −0.05 | −9.37% |
| Q4 2013 | 2013-12-31 | 0.52 | −0.01 | −2.41% |
| Q3 2013 | 2013-09-30 | 0.52 | 0.09 | +21.89% |
| Q2 2013 | 2013-06-30 | 0.53 | 0.10 | +23.37% |
| Q1 2013 | 2013-03-31 | 0.57 | 0.12 | +27.59% |
| Q4 2012 | 2012-12-31 | 0.54 | 0.13 | +30.63% |
| Q3 2012 | 2012-09-30 | 0.43 | 0.00 | +0.57% |
| Q2 2012 | 2012-06-30 | 0.43 | 0.02 | +5.59% |
| Q1 2012 | 2012-03-31 | 0.45 | 0.01 | +1.64% |
| Q4 2011 | 2011-12-31 | 0.41 | −0.02 | −4.66% |
| Q3 2011 | 2011-09-30 | 0.43 | −0.00 | −0.48% |
| Q2 2011 | 2011-06-30 | 0.41 | −0.02 | −5.71% |
| Q1 2011 | 2011-03-31 | 0.44 | 0.01 | +1.28% |
| Q4 2010 | 2010-12-31 | 0.43 | −0.04 | −8.85% |
| Q3 2010 | 2010-09-30 | 0.43 | −0.06 | −12.07% |
| Q2 2010 | 2010-06-30 | 0.43 | −0.11 | −20.68% |
| Q1 2010 | 2010-03-31 | 0.43 | — | — |
| Q4 2009 | 2009-12-31 | 0.47 | −0.14 | −23.12% |
| Q3 2009 | 2009-09-30 | 0.49 | — | — |
| Q2 2009 | 2009-06-30 | 0.54 | — | — |
| Q4 2008 | 2008-12-31 | 0.62 | — | — |
Unitedhealth Group debt-to-equity ratio trends
Over the last five fiscal years, Unitedhealth Group's debt-to-equity ratio increased from 0.62 to 0.82, a change of 0.20. The latest reported quarter, Q2 2026, shows 0.70.
About the metric
What the debt-to-equity ratio means
The debt-to-equity ratio compares interest-bearing debt with shareholders’ equity. It helps show how much debt financing a company uses relative to its accounting equity, but useful comparison levels vary by industry.
Calculation and source
How debt-to-equity is calculated
TickerStat calculates debt-to-equity as total interest-bearing debt divided by SEC-reported shareholders’ equity for the same balance-sheet date. Total liabilities are not treated as debt, and periods with non-positive equity are omitted. Fiscal periods can differ from calendar years, so exact period-end dates are included.
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