Unitedhealth (UNH) Cost of Revenue (2009 - 2026)
Unitedhealth (UNH) recorded Cost of Revenue of $76.98 billion in Q3 2026, down 3.7% from $79.96 billion a year earlier but up 2.2% from the prior quarter.
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Analysis
Unitedhealth (UNH) Cost of Revenue (2009 - 2026) Analysis & Trends
On a TTM basis, Unitedhealth's Cost of Revenue came in at $307.87 billion as of Sep 30, 2026, up 3.0% year-over-year; for FY2025, it was $314 billion, up 18.9% from FY2024.
- Annual Cost of Revenue has increased for 16 straight years, with a five-year compound annual growth rate of 14.5% (FY2020 to FY2025).
- Across earlier years, Cost of Revenue came in at $264.19 billion in FY2024 (+9.2%), $241.89 billion in FY2023 (+14.7%), $210.84 billion in FY2022 (+12.8%) and $186.91 billion in FY2021 (+17.3%).
- Quarterly Cost of Revenue has ranged from $48.16 billion in Q4 2021 to $82.04 billion in Q4 2025 over the past five years.
- On a year-over-year basis, Cost of Revenue rose in six of the last eight quarters, with growth averaging 9.4%.
- Peak year-over-year performance for Cost of Revenue in the last five years was growth of 22.4% in Q4 2025, against a decline of 4.1% in Q2 2026 at the low end.
- Per Business Quant, the preceding three quarters came in at $75.36 billion (Q2 2026), $73.49 billion (Q1 2026) and $82.04 billion (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cost of Rev (Qtr) |
|---|---|---|---|---|---|
| 1 | Unitedhealth | 353.57 Bn | 234.20 Bn | 35.71 Bn | 76.98 Bn |
| 2 | Mckesson | 123.38 Bn | 104.76 Bn | 3.96 Bn | 107.00 Bn |
| 3 | Cvs Health | 107.38 Bn | 56.14 Bn | 47.21 Bn | 61.19 Bn |
| 4 | Elevance Health | 92.31 Bn | -50.27 Bn | 13.65 Bn | 37.78 Bn |
| 5 | Cigna | 77.17 Bn | 46.04 Bn | 15.09 Bn | 58.59 Bn |
| 6 | Cencora | 64.41 Bn | 53.31 Bn | 3.61 Bn | 81.15 Bn |
| 7 | Cardinal Health | 62.87 Bn | 46.04 Bn | 2.60 Bn | 64.92 Bn |
| 8 | Humana | 51.94 Bn | -35.92 Bn | 5.50 Bn | 35.37 Bn |
| 9 | Centene | 34.44 Bn | -60.26 Bn | 9.52 Bn | 41.13 Bn |
| 10 | Molina Healthcare | 10.70 Bn | -24.30 Bn | 1.36 Bn | 9.72 Bn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 76.98 Bn |
| Jun 30, 2026 | 75.36 Bn |
| Mar 31, 2026 | 73.49 Bn |
| Dec 31, 2025 | 82.04 Bn |
| Sep 30, 2025 | 79.96 Bn |
| Jun 30, 2025 | 78.59 Bn |
| Mar 31, 2025 | 73.41 Bn |
| Dec 31, 2024 | 67.04 Bn |
| Sep 30, 2024 | 65.96 Bn |
| Jun 30, 2024 | 65.46 Bn |
| Mar 31, 2024 | 65.74 Bn |
| Dec 31, 2023 | 62.23 Bn |
| Sep 30, 2023 | 59.55 Bn |
| Jun 30, 2023 | 60.27 Bn |
| Mar 31, 2023 | 59.85 Bn |
| Dec 31, 2022 | 53.59 Bn |
| Sep 30, 2022 | 52.64 Bn |
| Jun 30, 2022 | 52.09 Bn |
| Mar 31, 2022 | 52.52 Bn |
| Dec 31, 2021 | 48.16 Bn |
API Access
Unitedhealth Cost of Revenue API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=UNH&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "cost-of-revenue", "ticker": "UNH", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=UNH&period=max&api_key=YOUR_API_KEY");
const data = await res.json();