Unitedhealth (UNH) Gross Margin (2009 - 2026)
Unitedhealth (UNH) posted quarterly Gross Margin of 34.22% for Q1 2026, up 122.0% year-over-year from 15.41% in Q1 2025, and up 24.28% quarter-over-quarter from 27.54% in Q4 2025.
Unitedhealth (UNH) Gross Margin (2009 - 2026) Analysis & Trends
Unitedhealth (UNH) has reported Gross Margin for 18 consecutive years, with 34.22% the latest figure, recorded in Q1 2026.
- In Q1 2026, Gross Margin rose 122.0% year-over-year to 34.22%; the TTM figure through Mar 2026 stood at 57.44% (down 2997.0% YoY), while the FY2025 annual figure was 29.84%, down 5849.0% from the prior year.
- Gross Margin improved to 34.22% in Q1 2026 per UNH's latest filing, from 27.54% in the prior quarter.
- Across five years, Gross Margin topped out at 189.58% in Q4 2024 and bottomed at 38.5% in Q4 2023.
- Historically, Gross Margin has averaged 64.02% across 5 years, with a median of 85.88% in 2025.
- Annual changes were most pronounced in 2024 — Gross Margin soared 22808 bps — and 2025, when it tumbled 16205 bps.
- Unitedhealth's Gross Margin stood at 89.96% in 2022, then slumped by 143 bps to 38.5% in 2023, then surged by 592 bps to 189.58% in 2024, then plunged by 85 bps to 27.54% in 2025, then increased by 24 bps to 34.22% in 2026.
- Business Quant data shows UNH's Gross Margin at 34.22% in Q1 2026, 27.54% in Q4 2025, and 85.88% in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Unitedhealth | 346.93 Bn | 315.46 Bn | 36.67 Bn | 32.74% |
| 2 | Cvs Health | 119.91 Bn | 105.95 Bn | 47.23 Bn | 44.52% |
| 3 | Elevance Health | 86.25 Bn | 50.30 Bn | 13.45 Bn | 26.65% |
| 4 | Humana | 45.69 Bn | 21.82 Bn | 5.50 Bn | 13.45% |
| 5 | Centene | 31.66 Bn | 4.60 Bn | 14.55 Bn | 27.16% |
| 6 | Molina Healthcare | 10.12 Bn | 1.21 Bn | 1.43 Bn | 13.19% |
| 7 | Oscar Health | 9.48 Bn | 922.10 Mn | 1.09 Bn | 22.25% |
| 8 | Alignment Healthcare | 2.69 Bn | 1.99 Bn | 180.96 Mn | 13.55% |
| 9 | Clover Health Investments | 2.16 Bn | 1.92 Bn | 153.00 Mn | 20.59% |
| 10 | Progyny | 2.03 Bn | 1.79 Bn | 89.30 Mn | 25.48% |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 32.74% |
| Mar 31, 2026 | 34.22% |
| Dec 31, 2025 | 27.54% |
| Sep 30, 2025 | 85.88% |
| Jun 30, 2025 | 88.34% |
| Mar 31, 2025 | 33.00% |
| Dec 31, 2024 | 189.58% |
| Sep 30, 2024 | 14.83% |
| Jun 30, 2024 | 14.88% |
| Mar 31, 2024 | 85.82% |
| Dec 31, 2023 | -38.50% |
| Sep 30, 2023 | 17.68% |
| Jun 30, 2023 | 89.51% |
| Mar 31, 2023 | 89.77% |
| Dec 31, 2022 | 89.96% |
| Sep 30, 2022 | 87.12% |
| Jun 30, 2022 | 89.30% |
| Mar 31, 2022 | 89.41% |
| Dec 31, 2021 | 93.27% |
| Sep 30, 2021 | 34.61% |