Filing Flows › UnitedHealth Group (UNH) › Q2 2026 › vs Q2 2025
UnitedHealth Group (UNH) Q2 2026 vs Q2 2025 (year over year)
UnitedHealth Group's revenue rose $416M (+0.4%) from $111.6B in Q2 2025 to $112.0B in Q2 2026. Operating margin 7.1% against 4.6% (+2.5 pts).
UnitedHealth Group, Q2 2026: revenue $112.0B (+0.4% year over year), operating margin 7.1%, net earnings $5.5B, operating cash flow $11.1B. The chart draws each line against Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Operating margin | 7.1% | 4.6% | +2.5 pts |
| Net margin | 4.9% | 3.1% | +1.8 pts |
| Free cash flow margin | 9.2% | 5.6% | +3.5 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Revenue | $112.0B | $111.6B | $416M | +0.4% |
| Operating profit | $8.0B | $5.2B | $2.8B | +55% |
| Costs & expenses | $104.0B | $106.5B | −$2.4B | -2% |
| Pre-tax earnings | $7.0B | $4.1B | $2.9B | +71% |
| Other expense, net | $1.0B | $1.1B | −$45.0M | -4% |
| Cost of revenue | $13.4B | $13.0B | $356M | +3% |
| SG&A | $14.3B | $13.8B | $490M | +4% |
| Other operating costs | $76.4B | $79.7B | −$3.3B | -4% |
| Net earnings | $5.5B | $3.4B | $2.1B | +61% |
| Minority interests | $186M | $166M | $20.0M | +12% |
| Income tax | $1.3B | $510M | $788M | +155% |
| Depreciation & amortization | $1.0B | $1.1B | −$44.0M | -4% |
| Share-based compensation | $276M | $197M | $79.0M | +40% |
| Working capital & other | $4.3B | $2.5B | $1.8B | +70% |
| Operating cash flow | $11.1B | $7.2B | $3.9B | +54% |
| Free cash flow (OCF − capex) | $10.3B | $6.3B | $4.0B | +63% |
| Capital expenditures | $799M | $886M | −$87.0M | -10% |
Questions
How much did UnitedHealth Group's revenue grow year over year in Q2 2026?
UnitedHealth Group's revenue rose $416M (+0.4%) from $111.6B in Q2 2025 to $112.0B in Q2 2026. Operating margin 7.1% against 4.6% (+2.5 pts).