Unitedhealth (UNH) Gross Margin (2009 - 2026)
Unitedhealth's Gross Margin came in at 32.74% for Q2 2026, up 3.14 percentage points from 29.59% a year earlier but down 1.49 percentage points from the prior quarter.
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Analysis
Unitedhealth (UNH) Gross Margin (2009 - 2026) Analysis & Trends
Over the trailing twelve months to Jun 30, 2026, Unitedhealth reported Gross Margin of 30.94%, down 1.66 percentage points year-over-year; for FY2025, it was 29.84%, down 4.16 percentage points from FY2024.
- Gross Margin has declined in each of the last five years, with a five-year change of -8.17 percentage points (FY2020 to FY2025).
- Going back by year, Gross Margin was 34.00% in FY2024 (-0.91 pp), 34.91% in FY2023 (-0.05 pp), 34.96% in FY2022 (-0.05 pp) and 35.01% in FY2021 (-3.00 pp).
- The five-year range for quarterly Gross Margin is 27.54% (Q4 2025) to 35.52% (Q3 2023).
- Year-over-year, Gross Margin increased in two of the last eight quarters, with an average year-over-year change of -1.71 percentage points.
- The fastest year-over-year change in Gross Margin over five years came in Q2 2026 (a gain of 3.14 percentage points), and the weakest in Q4 2025 (a drop of 5.97 percentage points).
- Business Quant data shows UNH's Gross Margin at 34.22% (Q1 2026), 27.54% (Q4 2025) and 29.34% (Q3 2025) in the three quarters before Q2 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Unitedhealth | 341.92 Bn | 226.55 Bn | 36.67 Bn | 32.74% |
| 2 | Cvs Health | 112.26 Bn | 64.87 Bn | 47.23 Bn | 44.52% |
| 3 | Mckesson | 99.84 Bn | 86.30 Bn | 3.69 Bn | 3.50% |
| 4 | Elevance Health | 85.53 Bn | -56.21 Bn | 13.45 Bn | 26.65% |
| 5 | Cigna | 71.85 Bn | 41.39 Bn | 14.97 Bn | 20.88% |
| 6 | Cencora | 57.95 Bn | 47.04 Bn | 3.61 Bn | 4.26% |
| 7 | Cardinal Health | 51.09 Bn | 35.09 Bn | 2.56 Bn | 4.02% |
| 8 | Humana | 46.78 Bn | -41.02 Bn | 5.50 Bn | 13.45% |
| 9 | Centene | 30.87 Bn | -59.41 Bn | 14.55 Bn | 27.16% |
| 10 | Molina Healthcare | 9.86 Bn | -25.01 Bn | 1.43 Bn | 13.19% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 32.74% |
| Mar 31, 2026 | 34.22% |
| Dec 31, 2025 | 27.54% |
| Sep 30, 2025 | 29.34% |
| Jun 30, 2025 | 29.59% |
| Mar 31, 2025 | 33.00% |
| Dec 31, 2024 | 33.50% |
| Sep 30, 2024 | 34.58% |
| Jun 30, 2024 | 33.78% |
| Mar 31, 2024 | 34.13% |
| Dec 31, 2023 | 34.10% |
| Sep 30, 2023 | 35.52% |
| Jun 30, 2023 | 35.13% |
| Mar 31, 2023 | 34.90% |
| Dec 31, 2022 | 35.27% |
| Sep 30, 2022 | 34.93% |
| Jun 30, 2022 | 35.15% |
| Mar 31, 2022 | 34.47% |
| Dec 31, 2021 | 34.69% |
| Sep 30, 2021 | 34.61% |
API Access
Unitedhealth Gross Margin 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=gross-margin&ticker=UNH&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "gross-margin", "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=gross-margin&ticker=UNH&period=max&api_key=YOUR_API_KEY");
const data = await res.json();