Q4 25 EPS
$2.11
BEAT +0.00%
Est. $2.11
Q4 25 Revenue
$113.22B
MISS 0.37%
Est. $113.64B
vs S&P Since Q4 25
+26.9%
BEATING MARKET
UNH +30.5% vs S&P +3.6%
Full Year 2025 Results
FY 25 EPS
$16.35
BEAT +0.18%
Est. $16.32
FY 25 Revenue
$447.57B
MISS 0.09%
Est. $447.99B
Market Reaction
Did UNH Beat Earnings? Q4 2025 Results
UnitedHealth Group delivered a mixed fourth quarter for fiscal 2025, matching adjusted EPS expectations at $2.11 while revenue of $113.22 billion came in just 0.37% below the $113.64 billion consensus, yet still represented a 12.3% increase year over… Read more UnitedHealth Group delivered a mixed fourth quarter for fiscal 2025, matching adjusted EPS expectations at $2.11 while revenue of $113.22 billion came in just 0.37% below the $113.64 billion consensus, yet still represented a 12.3% increase year over year. The headline numbers, however, obscure a far more turbulent story beneath the surface: a $2.88 billion pre-tax charge, encompassing $799 million in final cyberattack remediation costs alongside sweeping restructuring actions, collapsed GAAP earnings to just $0.01 per share for the quarter. The broader 2025 picture was similarly strained, as CMS Medicare funding reductions and accelerating medical costs pushed the full-year adjusted medical care ratio to 88.9%, up 340 basis points year over year, a dynamic pressuring rivals across the managed care sector as well. Looking ahead, UnitedHealth guided 2026 revenues above $439 billion, a deliberate contraction of roughly 2% as the company exits unprofitable contracts, while targeting adjusted EPS above $17.75 and operating earnings exceeding $24 billion, signaling a measured recovery rather than a swift rebound.
Key Takeaways
- • UnitedHealthcare Medicare & Retirement revenue grew 23% year-over-year driven by growth in people served and Inflation Reduction Act Part D impacts
- • Optum Rx revenue grew 16% year-over-year driven by growth in pharmacy services and volume growth from new and existing clients
- • UnitedHealthcare Community & State revenue grew 17% year-over-year driven by growth in serving people with complex needs and Medicaid rate increases
- • Adjusted medical care ratio increased 340 basis points year-over-year due to Medicare funding reductions and accelerating medical cost trends
- • Cash flows from operations were higher than anticipated due to timing of payments received in 2025 that were expected in 2026
UNH YoY Financials
Q4 2025 vs Q4 2024, source: SEC Filings
UNH Revenue by Segment
With YoY comparisons, source: SEC Filings
“We confronted challenges directly and finished 2025 as a much stronger company, giving us the momentum to better serve those who count on us and continue to improve our core performance.”
— Stephen Hemsley, Q4 2025 Earnings Press Release
UNH Earnings Trends
UNH vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
UNH EPS Trend
Earnings per share: estimate vs actual
UNH Revenue Trend
Quarterly revenue: estimate vs actual
UNH Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 | — | $7.23 | — | $111.72B | +1.88% |
| Q4 25 BEAT FY | $2.11 | $2.11 | +0.00% | $113.22B | -0.37% |
| FY Full Year | $16.32 | $16.35 | +0.18% | $447.57B | -0.09% |
| Q3 25 BEAT | $2.81 | $2.92 | +3.98% | $113.16B | +0.09% |
| Q2 25 MISS | $4.45 | $4.08 | -8.27% | $111.62B | +0.03% |
| Q1 25 MISS | $7.29 | $7.20 | -1.28% | $109.58B | -1.82% |