UnitedHealth Group Incorporated FY 2025 10-K, explained in plain English
Key financials — as reported
| Total revenue | $447.6B |
| Gross margin | 88.7% |
| Operating income | $19.0B |
| Net income | $12.1B |
| Diluted EPS | $13.23 |
| Cash & equivalents | $24.4B |
| Total assets | $309.6B |
| Long-term debt | $72.3B |
Key takeaway
Revenue of $447.6 billion combined with only $19.0 billion operating income and $12.1 billion net income points to a thin roughly 2.7% net margin for the year.
🔒 4 more takeaways in the full analysis
Beneath the surface
Total debt of $77.7 billion versus cash of $24.4 billion plus available-for-sale securities of roughly $48.2 billion (fair value) suggests net debt is closer to $5 billion rather than the headline $72.3 billion long-term debt figure implies, once liquid investments are included.
🔒 4 more insights a headline reader would miss
This is the free preview. The full analysis explains every line item above and includes 8 more findings — plus insider trades, activist stakes, and 8-K events for UNH.
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