Unitedhealth (UNH) Operating Expenses (2009 - 2026)
Unitedhealth (UNH) posted quarterly Operating Expenses of $102.7 billion for Q1 2026, up 2.26% year-over-year from $100.5 billion in Q1 2025, and down 8.95% quarter-over-quarter from $112.8 billion in Q4 2025.
Unitedhealth (UNH) Operating Expenses (2009 - 2026) Analysis & Trends
Unitedhealth (UNH) has reported Operating Expenses for 18 consecutive years, with $102.7 billion the latest figure, recorded in Q1 2026.
- In Q1 2026, Operating Expenses rose 2.26% year-over-year to $102.7 billion; the TTM figure through Mar 2026 stood at $430.9 billion (up 14.42% YoY), while the FY2025 annual figure was $428.6 billion, up 16.47% from the prior year.
- Operating Expenses fell to $102.7 billion in Q1 2026 per UNH's latest filing, from $112.8 billion in the prior quarter.
- Across five years, Operating Expenses topped out at $112.8 billion in Q4 2025 and bottomed at $73.2 billion in Q1 2022.
- Historically, Operating Expenses has averaged $90.3 billion across 5 years, with a median of $91.0 billion in 2024.
- Annual changes were most pronounced in 2025 — Operating Expenses increased 21.28% — and 2026, when it gained 2.26%.
- Unitedhealth's Operating Expenses stood at $75.9 billion in 2022, then climbed by 14.29% to $86.7 billion in 2023, then increased by 7.26% to $93.0 billion in 2024, then grew by 21.28% to $112.8 billion in 2025, then retreated by 8.95% to $102.7 billion in 2026.
- Business Quant data shows UNH's Operating Expenses at $102.7 billion in Q1 2026, $112.8 billion in Q4 2025, and $108.8 billion in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Unitedhealth | 346.93 Bn | 315.46 Bn | 36.67 Bn | 104.04 Bn |
| 2 | Cvs Health | 119.91 Bn | 105.95 Bn | 47.23 Bn | 101.39 Bn |
| 3 | Elevance Health | 86.25 Bn | 50.30 Bn | 13.45 Bn | 48.54 Bn |
| 4 | Humana | 45.69 Bn | 21.82 Bn | 5.50 Bn | 39.51 Bn |
| 5 | Centene | 31.66 Bn | 4.60 Bn | 14.55 Bn | 52.38 Bn |
| 6 | Molina Healthcare | 10.12 Bn | 1.21 Bn | 1.43 Bn | 10.73 Bn |
| 7 | Oscar Health | 9.48 Bn | 922.10 Mn | 1.09 Bn | 4.49 Bn |
| 8 | Alignment Healthcare | 2.69 Bn | 1.99 Bn | 180.96 Mn | 1.29 Bn |
| 9 | Clover Health Investments | 2.16 Bn | 1.92 Bn | 153.00 Mn | 715.17 Mn |
| 10 | Progyny | 2.03 Bn | 1.79 Bn | 89.30 Mn | 49.30 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 104.04 Bn |
| Mar 31, 2026 | 102.73 Bn |
| Dec 31, 2025 | 112.84 Bn |
| Sep 30, 2025 | 108.85 Bn |
| Jun 30, 2025 | 106.47 Bn |
| Mar 31, 2025 | 100.46 Bn |
| Dec 31, 2024 | 93.03 Bn |
| Sep 30, 2024 | 92.11 Bn |
| Jun 30, 2024 | 90.98 Bn |
| Mar 31, 2024 | 91.87 Bn |
| Dec 31, 2023 | 86.74 Bn |
| Sep 30, 2023 | 83.84 Bn |
| Jun 30, 2023 | 84.85 Bn |
| Mar 31, 2023 | 83.85 Bn |
| Dec 31, 2022 | 75.90 Bn |
| Sep 30, 2022 | 73.43 Bn |
| Jun 30, 2022 | 73.20 Bn |
| Mar 31, 2022 | 73.20 Bn |
| Dec 31, 2021 | 68.20 Bn |
| Sep 30, 2021 | 66.63 Bn |