Unitedhealth (UNH) Operating Expenses (2009 - 2026)

Unitedhealth (UNH) reported 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 18 years of Operating Expenses data on file, last reported at $102.7 billion in Q1 2026.

  • Operating Expenses for Q1 2026 came in at $102.7 billion, up 2.26% year-over-year; the trailing twelve-month figure through Mar 2026 was $430.9 billion (up 14.42% YoY), and the FY2025 annual result was $428.6 billion, up 16.47% from the prior year.
  • Operating Expenses slipped to $102.7 billion in Q1 2026 per UNH's latest filing, from $112.8 billion in the prior quarter.
  • Over five years, Operating Expenses peaked at $112.8 billion in Q4 2025 and troughed at $73.2 billion in Q1 2022.
  • A 5-year average of $90.3 billion and a median of $91.0 billion in 2024 frame the typical range for Operating Expenses.
  • The sharpest annual moves came in 2025 and 2026: Operating Expenses increased 21.28% in 2025, then gained 2.26% in 2026.
  • A 5-year view of Operating Expenses shows it stood at $75.9 billion in 2022, then advanced by 14.29% to $86.7 billion in 2023, then grew by 7.26% to $93.0 billion in 2024, then climbed by 21.28% to $112.8 billion in 2025, then fell 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.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Opex (Qtr)
1 Unitedhealth 363.95 Bn 334.15 Bn 98.90 Bn 102.73 Bn
2 Cvs Health 124.98 Bn 113.36 Bn 4.43 Bn 95.75 Bn
3 Elevance Health 85.46 Bn 50.04 Bn 13.88 Bn 47.88 Bn
4 Cigna 73.39 Bn 65.77 Bn -44.29 Bn 66.14 Bn
5 Humana 43.40 Bn 21.50 Bn 4.00 Bn 37.89 Bn
6 Centene 30.02 Bn 6.36 Bn 49.24 Bn 48.08 Bn
7 Molina Healthcare 9.92 Bn 668.90 Mn 1.53 Bn 10.71 Bn
8 Oscar Health 8.44 Bn 1.64 Bn -3.22 Bn 3.94 Bn
9 Alignment Healthcare 4.50 Bn 3.77 Bn 135.85 Mn 1.22 Bn
10 Clover Health Investments 2.61 Bn 2.41 Bn 154.54 Mn 721.86 Mn

Historic Data

Download Data
DateValue
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
Jun 30, 2021 65.34 Bn