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 | −$1.30B | −89.02% | +0.14% |
| Q3 2025 | 2025-09-30 | $5.05B | −$7.90B | −60.98% | +4.47% |
| Q2 2025 | 2025-06-30 | $6.30B | $409.0M | +6.94% | +5.65% |
| Q1 2025 | 2025-03-31 | $4.56B | $4.16B | +1036.66% | +4.16% |
| Q4 2024 | 2024-12-31 | $1.46B | $7.61B | — | +1.45% |
| Q3 2024 | 2024-09-30 | $12.95B | $6.89B | +113.62% | +12.85% |
| Q2 2024 | 2024-06-30 | $5.89B | −$4.31B | −42.24% | +5.96% |
| Q1 2024 | 2024-03-31 | $401.0M | −$15.17B | −97.42% | +0.40% |
| Q4 2023 | 2023-12-31 | −$6.15B | −$753.0M | — | −6.52% |
| Q3 2023 | 2023-09-30 | $6.06B | −$11.76B | −65.98% | +6.57% |
| Q2 2023 | 2023-06-30 | $10.20B | $3.99B | +64.19% | +10.98% |
| Q1 2023 | 2023-03-31 | $15.57B | $10.80B | +226.76% | +16.93% |
| Q4 2022 | 2022-12-31 | −$5.40B | −$7.92B | — | −6.52% |
| Q3 2022 | 2022-09-30 | $17.82B | $10.87B | +156.44% | +22.04% |
| Q2 2022 | 2022-06-30 | $6.21B | $1.24B | +24.83% | +7.74% |
| Q1 2022 | 2022-03-31 | $4.76B | −$673.0M | −12.38% | +5.94% |
| Q4 2021 | 2021-12-31 | $2.52B | −$3.00B | −54.35% | +3.42% |
| Q3 2021 | 2021-09-30 | $6.95B | $4.38B | +170.47% | +9.61% |
| Q2 2021 | 2021-06-30 | $4.98B | −$4.57B | −47.89% | +6.98% |
| Q1 2021 | 2021-03-31 | $5.44B | $2.96B | +119.77% | +7.75% |
| Q4 2020 | 2020-12-31 | $5.53B | −$28.0M | −0.50% | +8.44% |
| Q3 2020 | 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 | 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 | −$550.0M | −34.94% | +4.70% |
| Q3 2009 | 2009-09-30 | $2.57B | — | — | +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 SEC-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.
Review Unitedhealth Group filings at SEC.gov ↗