Cash flow UnitedHealth Group Inc.

Equities

UNH

US91324P1021

Managed Healthcare

Real-time Estimate Cboe BZX Other stock markets 09:53:08 2025-07-15 am EDT			5-day change	1st Jan Change
297.54 ^USD	-1.01%		-2.51%	-40.70%

07:24am	UnitedHealth Group Sold Business Stakes to Help Boost Profit	MT
07:12am	Leerink Partners Adjusts Price Target on UnitedHealth Group to $340 From $355, Maintains Outperform Rating	MT

a83ed97e011c4a3ff6d9e0518d232fa5.v-irtiPofgZSFJla71O-jfwssM2LHGyG1SeTRATek-Q.6beb7Fe-CTVhLcoyoQHL6JgByqr_cRbpkWqkaTaZw5frkp7GWqcnRx547g

Published financial data: UNITEDHEALTH GROUP INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2020	2021	2022	2023	2024
Premiums and Annuity Revenues	201B	226B	257B	291B	309B
Total Interest And Dividend Income	1.5B	2.32B	2.03B	3.81B	4.49B
Gain (Loss) on Sale of Investments, Total (Rev)	-	-	-	276M	710M
Non-Insurance Activities Revenues	34.14B	34.44B	37.42B	42.58B	50.23B
Other Revenues, Total	20.02B	24.6B	27.55B	34.12B	36.04B
Total Revenues	257B	288B	324B	372B	400B
Policy Benefits	159B	187B	211B	242B	264B
Depreciation & Amortization - (IS) - (Collected)	2.89B	3.1B	3.4B	3.97B	4.1B
Selling General & Admin Expenses, Total	41.7B	42.58B	47.78B	54.63B	53.01B
Non-Insurance Activities Expenses	30.74B	31.03B	33.7B	38.77B	46.69B
Total Operating Expenses	235B	264B	296B	339B	368B
Operating Income	22.4B	23.97B	28.44B	32.36B	32.29B
Interest Expense, Total	-1.66B	-1.66B	-2.09B	-3.25B	-3.91B
EBT, Excl. Unusual Items	20.74B	22.31B	26.34B	29.11B	28.38B
Gain (Loss) on Sale of Assets	-	-	-	-	-8.31B
EBT, Incl. Unusual Items	20.74B	22.31B	26.34B	29.11B	20.07B
Income Tax Expense	4.97B	4.58B	5.7B	5.97B	4.83B
Earnings From Continuing Operations	15.77B	17.73B	20.64B	23.14B	15.24B
Net Income to Company	15.77B	17.73B	20.64B	23.14B	15.24B
Minority Interest	-366M	-447M	-519M	-763M	-837M
Net Income - (IS)	15.4B	17.28B	20.12B	22.38B	14.4B
Net Income to Common Incl Extra Items	15.4B	17.28B	20.12B	22.38B	14.4B
Net Income to Common Excl. Extra Items	15.4B	17.28B	20.12B	22.38B	14.4B
Per Share Items
Net EPS - Basic	16.23	18.33	21.47	24.12	15.64
Basic EPS - Continuing Operations	16.23	18.33	21.47	24.12	15.64
Basic Weighted Average Shares Outstanding	949M	943M	937M	928M	921M
Net EPS - Diluted	16.03	18.08	21.18	23.86	15.51
Diluted EPS - Continuing Operations	16.03	18.08	21.18	23.86	15.51
Diluted Weighted Average Shares Outstanding	961M	956M	950M	938M	929M
Normalized Basic EPS	13.27	14.31	17.02	18.78	18.35
Normalized Diluted EPS	13.11	14.12	16.78	18.58	18.19
Dividend Per Share	4.83	5.6	6.4	7.29	8.18
Payout Ratio	29.76	30.55	29.78	30.21	52.29
American Depositary Receipts Ratio (ADR)	0.01	0.01	0.01	0.01	0.01
Supplemental Items
EBITDA	24.48B	26.15B	30.84B	35.13B	34.99B
EBITA	23.5B	25.17B	29.74B	33.96B	33.99B
EBIT	22.4B	23.97B	28.44B	32.36B	32.29B
EBITDAR	25.58B	27.35B	32.14B	36.53B	36.39B
Total Revenues (As Reported)	257B	288B	324B	372B	400B
Effective Tax Rate - (Ratio)	23.98	20.52	21.65	20.5	24.06
Current Domestic Taxes	4.49B	3.93B	5.7B	5.13B	3.87B
Current Foreign Taxes	491M	516M	680M	1.08B	1.26B
Total Current Taxes	4.98B	4.45B	6.38B	6.21B	5.12B
Total Deferred Taxes	-8M	130M	-673M	-245M	-296M
Normalized Net Income	12.6B	13.5B	15.95B	17.43B	16.9B
Supplemental Operating Expense Items
Net Rental Expense, Total	1.1B	1.2B	1.3B	1.4B	1.4B
Imputed Operating Lease Interest Expense	330M	340M	401M	581M	606M
Imputed Operating Lease Depreciation	770M	860M	899M	819M	794M
Stock-Based Comp., SG&A Exp. (Total)	-	-	925M	1.06B	1.02B
Stock-Based Comp., Other (Total)	679M	800M	-	-	-
Total Stock-Based Compensation	679M	800M	925M	1.06B	1.02B

Fiscal Period: December	2020	2021	2022	2023	2024
Assets
Total Other Investments	42.5B	43.85B	46.67B	49.91B	54.06B
Total investments	42.5B	43.85B	46.67B	49.91B	54.06B
Cash And Equivalents	16.92B	21.38B	23.36B	25.43B	25.31B
Reinsurance Recoverable - (IS)	-	-	-	-	-
Other Receivables - (Insurance Template)	25.4B	28.08B	30.45B	38.97B	48.45B
Separate Account Assets	4.08B	4.45B	4.09B	3.76B	-
Gross Property Plant And Equipment	8.85B	9.25B	10.42B	10.67B	8.54B
Accumulated Depreciation	-3.36B	-3.86B	-4.5B	-4.21B	-3.64B
Net Property Plant And Equipment	5.48B	5.39B	5.92B	6.46B	4.9B
Goodwill	71.34B	75.8B	93.35B	104B	107B
Other Intangibles, Total	14B	13.62B	18.61B	20.19B	28.93B
Deferred Tax Assets Current	-	-	-	-	-
Other Current Assets, Total	4.46B	5.32B	6.62B	6.08B	8.21B
Other Long-Term Assets, Total	13.11B	14.33B	16.63B	19.2B	21.69B
Total Assets	197B	212B	246B	274B	298B
Liabilities
Accounts Payable, Total	22.5B	24.64B	27.72B	31.96B	34.34B
Accrued Expenses, Total	-	-	-	-	-
Insurance And Annuity Liabilities	-	-	-	-	-
Unpaid Claims	21.87B	24.48B	29.06B	32.4B	34.22B
Unearned Premiums	2.84B	2.57B	3.08B	3.36B	3.32B
Current Portion of Long-Term Debt	3.52B	3.62B	2.31B	3.19B	3.24B
Current Portion of Leases	865M	870M	997M	1.04B	1.01B
Short-Term Borrowings	1.3B	-	800M	1.09B	1.3B
Long-Term Debt	38.65B	42.38B	54.51B	58.26B	72.36B
Long-Term Leases	3.58B	3.4B	3.83B	3.86B	3.88B
Other Current Liabilities - (Brok / FS / Ins. / REIT Template)	19.53B	22.1B	25.28B	26.03B	26.33B
Deferred Tax Liability Non-Current	3.37B	3.26B	2.77B	3.02B	3.62B
Other Non Current Liabilities	8.73B	8.38B	9.01B	10.6B	12.06B
Total Liabilities	127B	136B	159B	175B	196B
Common Stock, Total	10M	10M	9M	9M	9M
Additional Paid In Capital	-	-	-	-	-
Retained Earnings	69.3B	77.13B	86.16B	95.77B	96.04B
Comprehensive Income and Other	-3.81B	-5.38B	-8.39B	-7.03B	-3.39B
Total Common Equity	65.49B	71.76B	77.77B	88.76B	92.66B
Minority Interest	5.05B	4.72B	8.58B	10.16B	9.93B
Total Equity	70.54B	76.48B	86.35B	98.92B	103B
Total Liabilities And Equity	197B	212B	246B	274B	298B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	945M	941M	933M	922M	915M
ECS Total Common Shares Outstanding	946M	941M	934M	924M	915M
Book Value / Share	69.23	76.26	83.27	96.06	101.27
Tangible Book Value	-19.85B	-17.66B	-34.19B	-35.16B	-43B
Tangible Book Value Per Share	-20.98	-18.76	-36.6	-38.06	-47
Total Debt	47.91B	50.28B	62.45B	67.44B	81.79B
Net Debt	30.99B	28.9B	39.09B	42.01B	56.48B
Debt Equivalent Oper. Leases	8.8B	9.6B	10.4B	11.2B	11.2B
Minority Interest, Total (Incl. Fin. Div)	5.05B	4.72B	8.58B	10.16B	9.93B
Account Code - Inventory Valuation	3	3	3	3	3
Land - (BS)	533M	502M	697M	712M	364M
Buildings, Total	4.76B	4.88B	5.52B	5.57B	4.22B
Machinery, Total	3.55B	3.86B	4.21B	4.38B	3.96B
Full Time Employees	330K	350K	400K	440K	400K

Fiscal Period: December	2020	2021	2022	2023	2024
Net Income	15.4B	17.28B	20.12B	22.38B	14.4B
Depreciation, Depletion & Amortization	977M	980M	1.1B	1.17B	999M
Amortization of Goodwill and Intangible Assets - (CF)	1.1B	1.2B	1.3B	1.6B	1.7B
Total Depreciation, Depletion & Amortization	2.08B	2.18B	2.4B	2.77B	2.7B
Amortization of Deferred Charges, Total	814M	923M	1B	1.2B	1.4B
(Gain) Loss On Sale of Asset - (CF)	-	-	-	-	4.98B
Stock-Based Compensation (CF)	679M	800M	925M	1.06B	1.02B
Change in Accounts Receivable	-688M	-1B	-2.52B	-3.11B	-1.44B
Change in Accounts Payable	5.35B	1.16B	1.96B	3.52B	2.46B
Change in Unearned Revenues	278M	-310M	126M	203M	-197M
Change in insurance Reserves / Liabilities	152M	2.7B	4.05B	3.48B	2.5B
Change in Other Net Operating Assets (Collected)	-2.2B	-1.03B	-1.37B	-2.44B	-4.14B
Other Operating Activities	306M	-367M	-485M	13M	513M
Cash from Operations	22.17B	22.34B	26.21B	29.07B	24.2B
Capital Expenditure	-2.05B	-2.45B	-2.8B	-3.39B	-3.5B
Sale of Property, Plant, and Equipment	-	-	3.41B	685M	2.04B
Cash Acquisitions	-7.14B	-4.82B	-21.46B	-10.14B	-13.41B
Investment in Marketable and Equity Securities, Total	-2.84B	-1.84B	-6.84B	-1.78B	525M
Net (Increase) Decrease in Loans Originated / Sold - Investing	-	-	-	-	-4.52B
Other Investing Activities, Total	-506M	-1.25B	-793M	-960M	-1.67B
Cash from Investing	-12.53B	-10.37B	-28.48B	-15.57B	-20.53B
Short Term Debt Issued, Total	872M	-	732M	11M	-
Long-Term Debt Issued, Total	4.86B	6.93B	14.82B	6.39B	17.81B
Total Debt Issued	5.74B	6.93B	15.55B	6.4B	17.81B
Short Term Debt Repaid, Total	-	-1.3B	-	-	-151M
Long-Term Debt Repaid, Total	-3.15B	-3.15B	-3.02B	-2.12B	-3B
Total Debt Repaid	-3.15B	-4.45B	-3.02B	-2.12B	-3.15B
Issuance of Common Stock	1.44B	1.36B	1.25B	1.35B	1.85B
Repurchase of Common Stock	-4.25B	-5B	-7B	-8B	-9B
Common Dividends Paid	-4.58B	-5.28B	-5.99B	-6.76B	-7.53B
Common & Preferred Stock Dividends Paid	-4.58B	-5.28B	-5.99B	-6.76B	-7.53B
Other Financing Activities, Total	1.22B	-1.01B	3.43B	-2.4B	-3.48B
Cash from Financing	-3.59B	-7.46B	4.23B	-11.53B	-3.51B
Foreign Exchange Rate Adjustments	-116M	-62M	34M	97M	-61M
Miscellaneous Cash Flow Adjustments	-	-	-	-	-219M
Net Change in Cash	5.94B	4.45B	1.99B	2.06B	-115M
Supplemental Items
Cash Interest Paid	1.7B	1.65B	1.94B	3.04B	3.59B
Cash Income Tax Paid (Refund)	4.94B	3.97B	5.22B	6.08B	4.62B
Net Debt Issued / Repaid	2.59B	2.48B	12.54B	4.28B	14.66B
Levered Free Cash Flow	19.16B	18.38B	22.76B	19.82B	11.57B
Unlevered Free Cash Flow	20.2B	19.42B	24.07B	21.85B	14.02B
Change In Net Working Capital	-4.68B	-2.99B	-4.78B	23M	7.78B

Fiscal Period: December	2020	2021	2022	2023	2024
Profitability
Return on Assets	7.55	7.32	7.76	7.79	7.06
Return on Total Capital	12.66	12.44	13.1	13.03	11.67
Return On Equity %	23.77	24.12	25.35	24.98	15.13
Return on Common Equity	25.02	25.19	26.91	26.88	15.88
Margin Analysis
Gross Profit Margin %	26.06	24.22	24.56	24.48	22.33
SG&A Margin	16.22	14.8	14.74	14.7	13.24
EBITDA Margin %	9.52	9.09	9.51	9.45	8.74
EBITA Margin %	9.14	8.75	9.17	9.14	8.49
EBIT Margin %	8.71	8.33	8.77	8.71	8.07
Income From Continuing Operations Margin %	6.13	6.17	6.37	6.23	3.81
Net Income Margin %	5.99	6.01	6.21	6.02	3.6
Net Avail. For Common Margin %	5.99	6.01	6.21	6.02	3.6
Normalized Net Income Margin	4.9	4.69	4.92	4.69	4.22
Levered Free Cash Flow Margin	7.45	6.39	7.02	5.33	2.89
Unlevered Free Cash Flow Margin	7.85	6.75	7.43	5.88	3.5
Asset Turnover
Asset Turnover	1.39	1.4	1.42	1.43	1.4
Fixed Assets Turnover	45.86	52.9	57.3	60.04	70.52
Receivables Turnover (Average Receivables)	19.21	19.42	18.6	17.31	16.66
Inventory Turnover (Average Inventory)	-	-	-	89.1	94.21
Short Term Liquidity
Current Ratio	0.69	0.73	0.73	0.75	0.83
Quick Ratio	0.62	0.66	0.65	0.69	0.75
Operating Cash Flow to Current Liabilities	0.31	0.29	0.29	0.29	0.23
Days Sales Outstanding (Average Receivables)	19.06	18.8	19.63	21.08	21.97
Days Outstanding Inventory (Average Inventory)	-	-	-	4.1	3.89
Average Days Payable Outstanding	81.87	78.29	79.03	78.96	77.99
Cash Conversion Cycle (Average Days)	-	-	-	-53.78	-52.14
Long Term Solvency
Total Debt/Equity	67.93	65.74	72.33	68.17	79.73
Total Debt / Total Capital	40.45	39.66	41.97	40.54	44.36
LT Debt/Equity	59.87	59.87	67.57	62.8	74.31
Long-Term Debt / Total Capital	35.65	36.12	39.21	37.34	41.35
Total Liabilities / Total Assets	64.25	63.96	64.86	63.86	65.61
EBIT / Interest Expense	13.47	14.44	13.59	9.97	8.27
EBITDA / Interest Expense	15.38	16.48	15.36	11.25	9.32
(EBITDA - Capex) / Interest Expense	14.15	15	14.02	10.21	8.42
Total Debt / EBITDA	1.87	1.84	1.94	1.85	2.25
Net Debt / EBITDA	1.21	1.06	1.22	1.15	1.55
Total Debt / (EBITDA - Capex)	2.04	2.02	2.13	2.03	2.49
Net Debt / (EBITDA - Capex)	1.32	1.16	1.33	1.27	1.72
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	6.19	11.84	12.71	14.64	7.71
Gross Profit, 1 Yr. Growth %	16.32	3.96	14.31	14.24	-1.71
EBITDA, 1 Yr. Growth %	12.9	6.81	17.81	13.93	-0.41
EBITA, 1 Yr. Growth %	13.63	7.08	18.14	14.2	0.09
EBIT, 1 Yr. Growth %	13.82	6.98	18.63	13.8	-0.22
Earnings From Cont. Operations, 1 Yr. Growth %	10.75	12.45	16.39	12.14	-34.14
Net Income, 1 Yr. Growth %	11.3	12.22	16.4	11.24	-35.64
Normalized Net Income, 1 Yr. Growth %	16.24	7.14	18.14	9.32	-3.05
Diluted EPS Before Extra, 1 Yr. Growth %	11.86	12.79	17.15	12.65	-35
Net Property, Plant and Equip., 1 Yr. Growth %	-4.38	-1.64	9.85	9.02	-24.19
Inventory, 1 Yr. Growth %	-	-	-	-20	35.71
Accounts Receivable, 1 Yr. Growth %	8.86	10.46	24.37	20.33	5.12
Total Assets, 1 Yr. Growth %	13.46	7.56	15.79	11.4	8.97
Common Equity, 1 Yr. Growth %	13.67	9.57	8.38	14.12	4.4
Tangible Book Value, 1 Yr. Growth %	-7.1	-11.04	93.62	2.86	22.29
Cash From Operations, 1 Yr. Growth %	20.1	0.76	17.29	10.92	-16.73
Capital Expenditures, 1 Yr. Growth %	-0.97	19.65	14.18	20.84	3.34
Levered Free Cash Flow, 1 Yr. Growth %	23.76	-8.21	18.24	-16.59	-44.5
Unlevered Free Cash Flow, 1 Yr. Growth %	22.07	-7.81	18.64	-12.85	-38.75
Dividend Per Share, 1 Yr. Growth %	16.67	15.94	14.29	13.91	12.21
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	6.61	8.98	12.28	13.67	11.12
Gross Profit, 2 Yr. CAGR %	11.55	9.97	9.01	14.28	5.97
EBITDA, 2 Yr. CAGR %	13.02	9.82	12.2	15.85	6.52
EBITA, 2 Yr. CAGR %	13.51	10.31	12.47	16.15	6.91
EBIT, 2 Yr. CAGR %	13.66	10.35	12.66	16.19	6.56
Earnings From Cont. Operations, 2 Yr. CAGR %	12.85	11.59	14.4	14.25	-14.06
Net Income, 2 Yr. CAGR %	13.36	11.76	14.29	13.79	-15.39
Normalized Net Income, 2 Yr. CAGR %	14.74	11.59	12.5	13.65	2.95
Diluted EPS Before Extra, 2 Yr. CAGR %	14.67	12.32	14.95	14.88	-14.43
Net Property, Plant and Equip., 2 Yr. CAGR %	-2.43	-3.02	3.94	9.43	-9.09
Inventory, 2 Yr. CAGR %	-	-	-	-	4.2
Accounts Receivable, 2 Yr. CAGR %	6.31	9.66	17.21	22.34	12.47
Total Assets, 2 Yr. CAGR %	13.84	10.47	11.6	13.57	10.18
Common Equity, 2 Yr. CAGR %	12.55	11.6	8.97	11.21	9.15
Tangible Book Value, 2 Yr. CAGR %	1.57	-9.09	31.25	41.12	12.16
Cash From Operations, 2 Yr. CAGR %	18.79	10.01	8.71	14.06	-3.9
Capital Expenditures, 2 Yr. CAGR %	-0.29	8.85	16.88	17.46	11.75
Levered Free Cash Flow, 2 Yr. CAGR %	27.39	8.96	6.62	1.46	-30.2
Unlevered Free Cash Flow, 2 Yr. CAGR %	26.21	8.33	6.9	3.77	-25.23
Dividend Per Share, 2 Yr. CAGR %	18.32	16.3	15.11	14.1	13.05
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	8.53	8.33	10.21	13.06	11.65
Gross Profit, 3 Yr. CAGR %	12.54	8.96	11.4	10.73	8.68
EBITDA, 3 Yr. CAGR %	13.14	10.91	12.45	12.77	10.16
EBITA, 3 Yr. CAGR %	13.43	11.33	12.86	13.05	10.53
EBIT, 3 Yr. CAGR %	13.78	11.39	13.04	13.03	10.44
Earnings From Cont. Operations, 3 Yr. CAGR %	13.37	12.72	13.17	13.64	-4.92
Net Income, 3 Yr. CAGR %	13.42	12.98	13.29	13.26	-5.89
Normalized Net Income, 3 Yr. CAGR %	14.02	12.15	13.73	11.43	7.79
Diluted EPS Before Extra, 3 Yr. CAGR %	14.35	14.04	13.91	14.18	-4.98
Net Property, Plant and Equip., 3 Yr. CAGR %	5.88	-2.17	1.09	5.61	-3.17
Accounts Receivable, 3 Yr. CAGR %	10.39	7.67	14.36	18.24	16.3
Total Assets, 3 Yr. CAGR %	12.37	11.71	12.21	11.53	12.02
Common Equity, 3 Yr. CAGR %	11.09	11.55	10.52	10.66	8.89
Tangible Book Value, 3 Yr. CAGR %	3.96	-2.82	16.97	21.01	34.54
Cash From Operations, 3 Yr. CAGR %	17.71	12.45	12.38	9.44	2.7
Capital Expenditures, 3 Yr. CAGR %	0.46	5.96	10.6	18.19	12.55
Levered Free Cash Flow, 3 Yr. CAGR %	12.45	15.9	13.71	-0.35	-15.6
Unlevered Free Cash Flow, 3 Yr. CAGR %	12.43	15.26	13.31	1.22	-11.6
Dividend Per Share, 3 Yr. CAGR %	18.88	17.52	15.63	14.71	13.46
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	10.36	9.24	10.01	10.43	10.57
Gross Profit, 5 Yr. CAGR %	12.59	9.93	11.11	11.05	9.19
EBITDA, 5 Yr. CAGR %	14.79	12.5	12.77	12.88	10.04
EBITA, 5 Yr. CAGR %	15.03	12.75	13.05	13.23	10.44
EBIT, 5 Yr. CAGR %	15.25	13.14	13.33	13.28	10.4
Earnings From Cont. Operations, 5 Yr. CAGR %	21.86	20.18	13.78	13.33	1.37
Net Income, 5 Yr. CAGR %	21.52	19.76	13.77	13.3	0.8
Normalized Net Income, 5 Yr. CAGR %	14.72	12.9	13.41	12.74	9.29
Diluted EPS Before Extra, 5 Yr. CAGR %	21.68	20.05	14.59	14.38	1.6
Net Property, Plant and Equip., 5 Yr. CAGR %	11.17	6.85	5.1	2.32	-3.11
Accounts Receivable, 5 Yr. CAGR %	14.56	11.76	13.07	13.32	13.6
Total Assets, 5 Yr. CAGR %	12.14	11.56	12.06	12.45	11.4
Common Equity, 5 Yr. CAGR %	14.12	13.4	10.24	11.42	9.97
Tangible Book Value, 5 Yr. CAGR %	-0.79	-2.35	14.12	12.82	15.02
Cash From Operations, 5 Yr. CAGR %	17.88	17.93	14.02	13.09	5.56
Capital Expenditures, 5 Yr. CAGR %	5.68	7.55	6.73	10.42	11.06
Levered Free Cash Flow, 5 Yr. CAGR %	15.41	9.99	11.06	10.91	-5.65
Unlevered Free Cash Flow, 5 Yr. CAGR %	15.44	9.95	11.11	11.49	-3.27
Dividend Per Share, 5 Yr. CAGR %	20.83	18.71	17.36	16.14	14.59