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| 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 |