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
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