UNITEDHEALTH GROUP INC (UNH) closed fiscal year 2025 with a gross margin of 18.5 % and a net margin of 2.7 %.
UNITEDHEALTH GROUP INC (UNH) closed fiscal year 2025 with a gross margin of 18.5 % and a net margin of 2.7 %. The same year shows an EBITDA margin of 5.2 % and an EBIT margin of 4.2 %. The free cash flow margin was 3.6 %. Against the previous year the gross margin moved −3.8 pp and the net margin −0.9 pp. Across the period the gross margin ranges between 18.5 % in 2025 and 26.1 % in 2020. The series covers 19 fiscal years, from 2007 to 2025. Margins are expressed as a percentage of net revenue and are derived from the same figures as the income statement, taken from as-reported SEC EDGAR filings, with no restatements or adjustments of our own.
Fiscal year end: December
| 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross margin (%) | 25.49 % | 23.83 % | 23.05 % | 24.64 % | 24.69 % | 25.19 % | 24.44 % | 25.30 % | 23.57 % | 23.47 % | 23.37 % | 23.80 % | 23.79 % | 26.06 % | 24.22 % | 24.56 % | 24.48 % | 22.33 % | 18.53 % |
| EBITDA margin (%) | 11.46 % | 7.69 % | 8.43 % | 9.48 % | 9.41 % | 9.55 % | 8.98 % | 9.01 % | 8.09 % | 8.11 % | 8.68 % | 8.74 % | 9.25 % | 9.84 % | 9.41 % | 9.82 % | 9.78 % | 9.09 % | 5.21 % |
| EBIT margin (%) | 10.41 % | 6.48 % | 7.30 % | 8.35 % | 8.31 % | 8.37 % | 7.86 % | 7.87 % | 7.01 % | 7.00 % | 7.56 % | 7.67 % | 8.13 % | 8.71 % | 8.33 % | 8.77 % | 8.71 % | 8.07 % | 4.24 % |
| Net margin (%) | 6.17 % | 3.67 % | 4.39 % | 4.92 % | 5.05 % | 5.00 % | 4.59 % | 4.31 % | 3.70 % | 3.80 % | 5.25 % | 5.30 % | 5.71 % | 5.99 % | 6.01 % | 6.21 % | 6.02 % | 3.60 % | 2.69 % |
| FCF margin (%) | 6.64 % | 4.25 % | 5.61 % | 5.73 % | 5.79 % | 5.50 % | 4.64 % | 5.00 % | 5.21 % | 4.38 % | 5.75 % | 6.03 % | 6.77 % | 7.83 % | 6.92 % | 7.22 % | 6.91 % | 5.17 % | 3.59 % |
