Unitedhealth Group annual operating margin
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2025
Unitedhealth Group Operating Margin Growth & History (UNH)
Unitedhealth Group's operating margin was 4.24% for fiscal 2025.
View full Unitedhealth Group company overviewUnitedhealth Group annual operating margin history
| Fiscal year | Period ended | Operating margin | Change (percentage points) |
|---|---|---|---|
| 2025 | 2025-12-31 | 4.24% | −3.83 pp |
| 2024 | 2024-12-31 | 8.07% | −0.64 pp |
| 2023 | 2023-12-31 | 8.71% | −0.06 pp |
| 2022 | 2022-12-31 | 8.77% | +0.44 pp |
| 2021 | 2021-12-31 | 8.33% | −0.38 pp |
| 2020 | 2020-12-31 | 8.71% | +0.58 pp |
| 2019 | 2019-12-31 | 8.13% | +0.46 pp |
| 2018 | 2018-12-31 | 7.67% | +0.11 pp |
| 2017 | 2017-12-31 | 7.56% | +0.57 pp |
| 2016 | 2016-12-31 | 7.00% | −0.02 pp |
| 2015 | 2015-12-31 | 7.01% | −0.86 pp |
| 2014 | 2014-12-31 | 7.87% | +0.02 pp |
| 2013 | 2013-12-31 | 7.86% | −0.51 pp |
| 2012 | 2012-12-31 | 8.37% | +0.06 pp |
| 2011 | 2011-12-31 | 8.31% | −0.04 pp |
| 2010 | 2010-12-31 | 8.35% | +1.05 pp |
| 2009 | 2009-12-31 | 7.30% | +0.81 pp |
| 2008 | 2008-12-31 | 6.48% | −3.92 pp |
| 2007 | 2007-12-31 | 10.41% | — |
Unitedhealth Group quarterly operating margin
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Q2.26
| Fiscal quarter | Period ended | Operating margin | Change (percentage points) |
|---|---|---|---|
| Q2 2026 | 2026-06-30 | 7.13% | +2.52 pp |
| Q1 2026 | 2026-03-31 | 8.05% | −0.28 pp |
| Q4 2025 | 2025-12-31 | 0.34% | −7.38 pp |
| Q3 2025 | 2025-09-30 | 3.81% | −4.82 pp |
| Q2 2025 | 2025-06-30 | 4.61% | −3.35 pp |
| Q1 2025 | 2025-03-31 | 8.32% | +0.37 pp |
| Q4 2024 | 2024-12-31 | 7.71% | −0.43 pp |
| Q3 2024 | 2024-09-30 | 8.64% | −0.59 pp |
| Q2 2024 | 2024-06-30 | 7.97% | −0.71 pp |
| Q1 2024 | 2024-03-31 | 7.95% | −0.85 pp |
| Q4 2023 | 2023-12-31 | 8.14% | −0.18 pp |
| Q3 2023 | 2023-09-30 | 9.23% | +0.01 pp |
| Q2 2023 | 2023-06-30 | 8.67% | −0.21 pp |
| Q1 2023 | 2023-03-31 | 8.80% | +0.12 pp |
| Q4 2022 | 2022-12-31 | 8.32% | +0.81 pp |
| Q3 2022 | 2022-09-30 | 9.22% | +1.33 pp |
| Q2 2022 | 2022-06-30 | 8.88% | +0.50 pp |
| Q1 2022 | 2022-03-31 | 8.67% | −0.93 pp |
| Q4 2021 | 2021-12-31 | 7.51% | +2.14 pp |
| Q3 2021 | 2021-09-30 | 7.90% | +0.75 pp |
| Q2 2021 | 2021-06-30 | 8.38% | −6.49 pp |
| Q1 2021 | 2021-03-31 | 9.60% | +1.85 pp |
| Q4 2020 | 2020-12-31 | 5.37% | −2.99 pp |
| Q3 2020 | 2020-09-30 | 7.14% | −1.17 pp |
| Q2 2020 | 2020-06-30 | 14.87% | +7.04 pp |
| Q1 2020 | 2020-03-31 | 7.76% | −0.26 pp |
| Q4 2019 | 2019-12-31 | 8.37% | +0.67 pp |
| Q3 2019 | 2019-09-30 | 8.31% | +0.19 pp |
| Q2 2019 | 2019-06-30 | 7.83% | +0.33 pp |
| Q1 2019 | 2019-03-31 | 8.01% | +0.67 pp |
| Q4 2018 | 2018-12-31 | 7.70% | +0.06 pp |
| Q3 2018 | 2018-09-30 | 8.12% | −0.01 pp |
| Q2 2018 | 2018-06-30 | 7.50% | +0.04 pp |
| Q1 2018 | 2018-03-31 | 7.34% | +0.34 pp |
| Q4 2017 | 2017-12-31 | 7.64% | +0.93 pp |
| Q3 2017 | 2017-09-30 | 8.12% | +0.39 pp |
| Q2 2017 | 2017-06-30 | 7.45% | +0.56 pp |
| Q1 2017 | 2017-03-31 | 7.00% | +0.36 pp |
| Q4 2016 | 2016-12-31 | 6.70% | +1.04 pp |
| Q3 2016 | 2016-09-30 | 7.73% | +0.46 pp |
| Q2 2016 | 2016-06-30 | 6.89% | −1.09 pp |
| Q1 2016 | 2016-03-31 | 6.65% | −0.74 pp |
| Q4 2015 | 2015-12-31 | 5.66% | −2.61 pp |
| Q3 2015 | 2015-09-30 | 7.27% | −1.59 pp |
| Q2 2015 | 2015-06-30 | 7.98% | +0.15 pp |
| Q1 2015 | 2015-03-31 | 7.38% | +0.91 pp |
| Q4 2014 | 2014-12-31 | 8.27% | +0.39 pp |
| Q3 2014 | 2014-09-30 | 8.86% | +0.27 pp |
| Q2 2014 | 2014-06-30 | 7.83% | −0.06 pp |
| Q1 2014 | 2014-03-31 | 6.48% | −0.57 pp |
| Q4 2013 | 2013-12-31 | 7.88% | +0.58 pp |
| Q3 2013 | 2013-09-30 | 8.59% | −0.97 pp |
| Q2 2013 | 2013-06-30 | 7.90% | −0.27 pp |
| Q1 2013 | 2013-03-31 | 7.05% | −1.44 pp |
| Q4 2012 | 2012-12-31 | 7.30% | −0.70 pp |
| Q3 2012 | 2012-09-30 | 9.56% | +1.37 pp |
| Q2 2012 | 2012-06-30 | 8.16% | −0.15 pp |
| Q1 2012 | 2012-03-31 | 8.49% | −0.24 pp |
| Q4 2011 | 2011-12-31 | 8.00% | +0.50 pp |
| Q3 2011 | 2011-09-30 | 8.19% | −0.87 pp |
| Q2 2011 | 2011-06-30 | 8.32% | +0.15 pp |
| Q1 2011 | 2011-03-31 | 8.73% | +0.04 pp |
| Q4 2010 | 2010-12-31 | 7.50% | +0.27 pp |
| Q3 2010 | 2010-09-30 | 9.06% | +1.34 pp |
| Q2 2010 | 2010-06-30 | 8.17% | +1.52 pp |
| Q1 2010 | 2010-03-31 | 8.69% | +1.11 pp |
| Q4 2009 | 2009-12-31 | 7.23% | −0.70 pp |
| Q3 2009 | 2009-09-30 | 7.73% | +4.41 pp |
| Q2 2009 | 2009-06-30 | 6.65% | — |
| Q1 2009 | 2009-03-31 | 7.58% | — |
| Q3 2008 | 2008-09-30 | 7.93% | — |
| Q2 2008 | 2008-06-30 | 3.32% | — |
Unitedhealth Group operating margin trends
Over the last five reported fiscal years, Unitedhealth Group's operating margin decreased from 8.71% to 4.24%, a change of −4.48 percentage points. The latest reported quarter, Q2 2026, shows 7.13%.
About the metric
What operating margin means
Operating margin measures the percentage of revenue left after operating costs and expenses. It shows how much operating profit a company generates from each dollar of revenue.
Calculation and source
How operating margin is calculated
TickerStat calculates operating margin as SEC-reported operating income divided by SEC-reported revenue for the same fiscal period. Changes are shown in percentage points. Fiscal periods can differ from calendar years, so exact period-end dates are included.
Review Unitedhealth Group filings at SEC.gov ↗