Unitedhealth (UNH) Operating Expenses (2009 - 2026)
Unitedhealth's (UNH) quarterly Operating Expenses came in at $102.7 billion in Q1 2026, up 2.26% year-on-year from $100.5 billion in Q1 2025, and down 8.95% on a QoQ basis 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.
- On a quarterly basis, Operating Expenses rose 2.26% year-over-year to $102.7 billion in Q1 2026; TTM through Mar 2026 was $430.9 billion, a 14.42% increase from a year earlier, with the FY2025 full-year figure at $428.6 billion, up 16.47% from the prior year.
- Operating Expenses for Q1 2026 stood at $102.7 billion, down from $112.8 billion in the prior quarter.
- Over the last five years, Operating Expenses for UNH reached as high as $112.8 billion in Q4 2025 and fell as low as $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.
- Across the five-year window, Operating Expenses climbed 21.28% in 2025 and increased 2.26% in 2026, its largest moves.
- Year by year, Operating Expenses stood at $75.9 billion in 2022, then increased by 14.29% to $86.7 billion in 2023, then gained by 7.26% to $93.0 billion in 2024, then rose by 21.28% to $112.8 billion in 2025, then slipped by 8.95% to $102.7 billion in 2026.
- Per Business Quant data, the three most recent Operating Expenses figures were $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 | 384.70 Bn | 354.90 Bn | 38.23 Bn | 102.73 Bn |
| 2 | Cvs Health | 136.05 Bn | 124.42 Bn | 22.85 Bn | 95.75 Bn |
| 3 | Elevance Health | 82.25 Bn | 46.44 Bn | 35.79 Bn | 48.54 Bn |
| 4 | Cigna | 75.16 Bn | 67.54 Bn | -44.29 Bn | 66.14 Bn |
| 5 | Humana | 47.47 Bn | 25.57 Bn | 5.94 Bn | 37.89 Bn |
| 6 | Centene | 31.35 Bn | 7.64 Bn | 43.95 Bn | 48.08 Bn |
| 7 | Molina Healthcare | 10.44 Bn | 1.19 Bn | 1.43 Bn | 10.73 Bn |
| 8 | Oscar Health | 8.62 Bn | 1.83 Bn | 1.42 Bn | 3.94 Bn |
| 9 | Alignment Healthcare | 4.13 Bn | 3.41 Bn | 144.48 Mn | 1.22 Bn |
| 10 | Progyny | 2.48 Bn | 2.26 Bn | 83.07 Mn | 47.69 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| 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 |