Unitedhealth (UNH) Gross Margin (2009 - 2026)
Unitedhealth's (UNH) quarterly Gross Margin came in at 34.22% in Q1 2026, up 122.0% year-on-year from 15.41% in Q1 2025, and up 24.28% on a QoQ basis from 27.54% in Q4 2025.
Unitedhealth (UNH) Gross Margin (2009 - 2026) Analysis & Trends
Unitedhealth (UNH) has 18 years of Gross Margin data on file, last reported at 34.22% in Q1 2026.
- On a quarterly basis, Gross Margin rose 122.0% year-over-year to 34.22% in Q1 2026; TTM through Mar 2026 was 57.44%, a 2997.0% decrease from a year earlier, with the FY2025 full-year figure at 29.84%, down 5849.0% from the prior year.
- Gross Margin for Q1 2026 stood at 34.22%, up from 27.54% in the prior quarter.
- Over the last five years, Gross Margin for UNH reached as high as 189.58% in Q4 2024 and fell as low as 38.5% in Q4 2023.
- Historically, Gross Margin has averaged 64.02% across 5 years, with a median of 85.88% in 2025.
- Across the five-year window, Gross Margin jumped 22808 bps in 2024 and sank 16205 bps in 2025, its largest moves.
- Year by year, Gross Margin stood at 89.96% in 2022, then slumped by 143 bps to 38.5% in 2023, then jumped by 592 bps to 189.58% in 2024, then plunged by 85 bps to 27.54% in 2025, then gained by 24 bps to 34.22% in 2026.
- Per Business Quant data, the three most recent Gross Margin figures were 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 | 384.70 Bn | 354.90 Bn | 38.23 Bn | 34.22% |
| 2 | Cvs Health | 136.05 Bn | 124.42 Bn | 22.85 Bn | 67.61% |
| 3 | Elevance Health | 82.25 Bn | 46.44 Bn | 35.79 Bn | 86.70% |
| 4 | Cigna | 75.16 Bn | 67.54 Bn | -44.29 Bn | -451.37% |
| 5 | Humana | 47.47 Bn | 25.57 Bn | 5.94 Bn | 14.98% |
| 6 | Centene | 31.35 Bn | 7.64 Bn | 43.95 Bn | 98.43% |
| 7 | Molina Healthcare | 10.44 Bn | 1.19 Bn | 1.43 Bn | 13.19% |
| 8 | Oscar Health | 8.62 Bn | 1.83 Bn | 1.42 Bn | 30.50% |
| 9 | Alignment Healthcare | 4.13 Bn | 3.41 Bn | 144.48 Mn | 11.70% |
| 10 | Progyny | 2.48 Bn | 2.26 Bn | 83.07 Mn | 25.29% |
Historic Data
Download Data| Date | Value |
|---|---|
| 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% |
| Jun 30, 2021 | 17.23% |