Unitedhealth Group annual free cash flow
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Unitedhealth Group Free Cash Flow (FCF) History (UNH)
Unitedhealth Group reported $16.07B in free cash flow for fiscal 2025, a decrease of 22.36% from the previous fiscal year, with a free cash flow margin of 3.59%.
View full Unitedhealth Group company overviewUnitedhealth Group free cash flow by year
| Fiscal year | Period ended | Free cash flow | Change | Growth | FCF margin |
|---|---|---|---|---|---|
| 2025 | 2025-12-31 | $16.07B | −$4.63B | −22.36% | +3.59% |
| 2024 | 2024-12-31 | $20.70B | −$4.98B | −19.38% | +5.17% |
| 2023 | 2023-12-31 | $25.68B | $2.28B | +9.73% | +6.91% |
| 2022 | 2022-12-31 | $23.40B | $3.52B | +17.67% | +7.22% |
| 2021 | 2021-12-31 | $19.89B | −$234.0M | −1.16% | +6.92% |
| 2020 | 2020-12-31 | $20.12B | $3.73B | +22.76% | +7.83% |
| 2019 | 2019-12-31 | $16.39B | $2.74B | +20.09% | +6.77% |
| 2018 | 2018-12-31 | $13.65B | $2.08B | +17.95% | +6.03% |
| 2017 | 2017-12-31 | $11.57B | $3.48B | +43.05% | +5.75% |
| 2016 | 2016-12-31 | $8.09B | −$94.0M | −1.15% | +4.38% |
| 2015 | 2015-12-31 | $8.18B | $1.66B | +25.41% | +5.21% |
| 2014 | 2014-12-31 | $6.53B | $842.0M | +14.81% | +5.00% |
| 2013 | 2013-12-31 | $5.68B | −$401.0M | −6.59% | +4.64% |
| 2012 | 2012-12-31 | $6.08B | $184.0M | +3.12% | +5.50% |
| 2011 | 2011-12-31 | $5.90B | $506.0M | +9.38% | +5.79% |
| 2010 | 2010-12-31 | $5.39B | $509.0M | +10.42% | +5.73% |
| 2009 | 2009-12-31 | $4.89B | $1.44B | +41.75% | +5.61% |
| 2008 | 2008-12-31 | $3.45B | −$1.56B | −31.14% | +4.25% |
| 2007 | 2007-12-31 | $5.01B | — | — | +6.64% |
Unitedhealth Group quarterly free cash flow
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| Fiscal quarter | Period ended | Free cash flow | Change | YoY growth | FCF margin |
|---|---|---|---|---|---|
| Q2 2026 | 2026-06-30 | $10.25B | $3.95B | +62.69% | +9.15% |
| Q1 2026 | 2026-03-31 | $8.15B | $3.59B | +78.78% | +7.29% |
| Q4 2025 | 2025-12-31 | $160.0M | — | — | — |
| Q3 2025 · Sep 30 | 2025-09-30 | $5.05B | −$7.90B | −60.98% | +4.47% |
| Q2 2025 · Jun 30 | 2025-06-30 | $6.30B | $409.0M | +6.94% | +5.65% |
| Q1 2025 · Mar 31 | 2025-03-31 | $4.56B | $4.16B | +1036.66% | +4.16% |
| Q3 2024 · Sep 30 | 2024-09-30 | $12.95B | $6.89B | +113.62% | +12.85% |
| Q2 2024 · Jun 30 | 2024-06-30 | $5.89B | −$4.31B | −42.24% | +5.96% |
| Q1 2024 · Mar 31 | 2024-03-31 | $401.0M | −$15.17B | −97.42% | +0.40% |
| Q3 2023 · Sep 30 | 2023-09-30 | $6.06B | −$11.76B | −65.98% | +6.57% |
| Q2 2023 · Jun 30 | 2023-06-30 | $10.20B | $3.99B | +64.19% | +10.98% |
| Q1 2023 · Mar 31 | 2023-03-31 | $15.57B | $10.80B | +226.76% | +16.93% |
| Q3 2022 · Sep 30 | 2022-09-30 | $17.82B | $10.87B | +156.44% | +22.04% |
| Q2 2022 · Jun 30 | 2022-06-30 | $6.21B | $1.24B | +24.83% | +7.74% |
| Q1 2022 · Mar 31 | 2022-03-31 | $4.76B | −$673.0M | −12.38% | +5.94% |
| Q3 2021 · Sep 30 | 2021-09-30 | $6.95B | $4.38B | +170.47% | +9.61% |
| Q2 2021 · Jun 30 | 2021-06-30 | $4.98B | −$4.57B | −47.89% | +6.98% |
| Q1 2021 · Mar 31 | 2021-03-31 | $5.44B | $2.96B | +119.77% | +7.75% |
| Q3 2020 · Sep 30 | 2020-09-30 | $2.57B | −$136.0M | −5.03% | +3.95% |
| Q2 2020 | 2020-06-30 | $9.55B | $4.09B | +74.98% | +15.37% |
| Q1 2020 · Mar 31 | 2020-03-31 | $2.47B | −$198.0M | −7.41% | +3.84% |
| Q4 2019 | 2019-12-31 | $5.55B | $3.72B | +202.23% | +9.12% |
| Q3 2019 | 2019-09-30 | $2.71B | $2.31B | +583.33% | +4.48% |
| Q2 2019 | 2019-06-30 | $5.46B | $1.94B | +54.91% | +9.01% |
| Q1 2019 | 2019-03-31 | $2.67B | −$5.22B | −66.14% | +4.43% |
| Q4 2018 | 2018-12-31 | $1.84B | $5.05B | — | +3.15% |
| Q3 2018 | 2018-09-30 | $396.0M | −$6.68B | −94.41% | +0.70% |
| Q2 2018 | 2018-06-30 | $3.52B | $1.77B | +101.03% | +6.28% |
| Q1 2018 | 2018-03-31 | $7.89B | $1.94B | +32.66% | +14.30% |
| Q4 2017 | 2017-12-31 | −$3.21B | −$1.31B | — | −6.16% |
| Q3 2017 | 2017-09-30 | $7.08B | $284.0M | +4.18% | +14.07% |
| Q2 2017 | 2017-06-30 | $1.75B | $458.0M | +35.37% | +3.50% |
| Q1 2017 | 2017-03-31 | $5.95B | $4.06B | +214.26% | +12.21% |
| Q4 2016 | 2016-12-31 | −$1.89B | −$4.92B | — | −3.98% |
| Q3 2016 | 2016-09-30 | $6.80B | $4.36B | +178.41% | +14.68% |
| Q2 2016 | 2016-06-30 | $1.29B | $475.0M | +57.93% | +2.79% |
| Q1 2016 | 2016-03-31 | $1.89B | −$3.0M | −0.16% | +4.25% |
| Q4 2015 | 2015-12-31 | $3.03B | $1.00B | +49.48% | +6.94% |
| Q3 2015 | 2015-09-30 | $2.44B | −$354.0M | −12.67% | +5.88% |
| Q2 2015 | 2015-06-30 | $820.0M | $169.0M | +25.96% | +2.26% |
| Q1 2015 | 2015-03-31 | $1.90B | $841.0M | +79.72% | +5.30% |
| Q4 2014 | 2014-12-31 | $2.02B | $1.28B | +171.08% | +6.06% |
| Q3 2014 | 2014-09-30 | $2.79B | −$240.0M | −7.91% | +8.53% |
| Q2 2014 | 2014-06-30 | $651.0M | −$521.0M | −44.45% | +2.00% |
| Q1 2014 | 2014-03-31 | $1.05B | $325.0M | +44.52% | +3.33% |
| Q4 2013 | 2013-12-31 | $747.0M | −$651.0M | −46.57% | +2.40% |
| Q3 2013 | 2013-09-30 | $3.04B | $3.65B | — | +9.91% |
| Q2 2013 | 2013-06-30 | $1.17B | −$817.0M | −41.08% | +3.85% |
| Q1 2013 | 2013-03-31 | $730.0M | −$2.59B | −77.99% | +2.41% |
| Q4 2012 | 2012-12-31 | $1.40B | $2.07B | — | +4.86% |
| Q3 2012 | 2012-09-30 | −$619.0M | −$5.29B | — | −2.27% |
| Q2 2012 | 2012-06-30 | $1.99B | $1.10B | +122.98% | +7.30% |
| Q1 2012 | 2012-03-31 | $3.32B | $2.31B | +228.09% | +12.16% |
| Q4 2011 | 2011-12-31 | −$676.0M | −$1.79B | — | −2.61% |
| Q3 2011 | 2011-09-30 | $4.67B | $1.98B | +73.18% | +18.49% |
| Q2 2011 | 2011-06-30 | $892.0M | $380.0M | +74.22% | +3.53% |
| Q1 2011 | 2011-03-31 | $1.01B | −$62.0M | −5.78% | +3.98% |
| Q4 2010 | 2010-12-31 | $1.11B | $87.0M | +8.50% | +4.62% |
| Q3 2010 | 2010-09-30 | $2.70B | $130.0M | +5.06% | +11.40% |
| Q2 2010 | 2010-06-30 | $512.0M | $171.0M | +50.15% | +2.20% |
| Q1 2010 | 2010-03-31 | $1.07B | $121.0M | +12.71% | +4.63% |
| Q4 2009 | 2009-12-31 | $1.02B | — | — | +4.70% |
| Q3 2009 | 2009-09-30 | $2.57B | $995.0M | +63.21% | +11.84% |
| Q2 2009 | 2009-06-30 | $341.0M | — | — | +1.57% |
| Q1 2009 | 2009-03-31 | $952.0M | — | — | +4.33% |
| Q3 2008 | 2008-09-30 | $1.57B | — | — | +7.81% |
Unitedhealth Group free cash flow growth trends
Over the last five reported fiscal years, free cash flow declined from $20.12B to $16.07B, a compound annual decline of 4.39%. Unitedhealth Group's latest reported quarter, Q2 2026, generated $10.25B in free cash flow, an increase of 62.69% year over year.
About the metric
What free cash flow means
Free cash flow is the cash a company generates from operations after capital expenditures. Positive FCF can fund dividends, buybacks, debt repayment, or reinvestment; negative FCF means capital spending exceeded operating cash flow for that period.
Calculation and source
How free cash flow is calculated
TickerStat calculates free cash flow as reported operating cash flow minus capital expenditures. FCF margin equals free cash flow divided by revenue. Fiscal periods can differ from calendar years, so the tables include exact period-end dates.
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