UnitedHealth Group Incorporated
UnitedHealth Group Incorporated operates as a health care company in the United States and internationally. It operates through four segments: Optum Health, Optum Insight, Optum Rx; and UnitedHealthcare. The Optum Health segment provides care delivery, care management, wellness and consumer engagement, and health financial services with patients, consumers, care delivery systems, providers, emplo… Read more
UnitedHealth Group Incorporated (UNH) - Net Assets
Latest net assets as of December 2025: $101.70 Billion USD
Based on the latest financial reports, UnitedHealth Group Incorporated (UNH) has net assets worth $101.70 Billion USD as of December 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($309.58 Billion) and total liabilities ($207.88 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $101.70 Billion |
| % of Total Assets | 32.85% |
| Annual Growth Rate | 24.61% |
| 5-Year Change | 32.98% |
| 10-Year Change | 151.67% |
| Growth Volatility | 71.92 |
UnitedHealth Group Incorporated - Net Assets Trend (1985–2025)
This chart illustrates how UnitedHealth Group Incorporated's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for UnitedHealth Group Incorporated (1985–2025)
The table below shows the annual net assets of UnitedHealth Group Incorporated from 1985 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | $101.70 Billion | -0.87% |
| 2024-12-31 | $102.59 Billion | +3.71% |
| 2023-12-31 | $98.92 Billion | +14.56% |
| 2022-12-31 | $86.35 Billion | +12.90% |
| 2021-12-31 | $76.48 Billion | +8.42% |
| 2020-12-31 | $70.54 Billion | +13.48% |
| 2019-12-31 | $62.16 Billion | +10.56% |
| 2018-12-31 | $56.23 Billion | +8.08% |
| 2017-12-31 | $52.02 Billion | +28.74% |
| 2016-12-31 | $40.41 Billion | +13.95% |
| 2015-12-31 | $35.46 Billion | +4.78% |
| 2014-12-31 | $33.84 Billion | +1.55% |
| 2013-12-31 | $33.32 Billion | +0.08% |
| 2012-12-31 | $33.30 Billion | +17.70% |
| 2011-12-31 | $28.29 Billion | +9.55% |
| 2010-12-31 | $25.82 Billion | +9.40% |
| 2009-12-31 | $23.61 Billion | +13.60% |
| 2008-12-31 | $20.78 Billion | +3.57% |
| 2007-12-31 | $20.06 Billion | -3.59% |
| 2006-12-31 | $20.81 Billion | +17.35% |
| 2005-12-31 | $17.73 Billion | +65.47% |
| 2004-12-31 | $10.72 Billion | +108.99% |
| 2003-12-31 | $5.13 Billion | +15.81% |
| 2002-12-31 | $4.43 Billion | +13.80% |
| 2001-12-31 | $3.89 Billion | +5.50% |
| 2000-12-31 | $3.69 Billion | -4.53% |
| 1999-12-31 | $3.86 Billion | -4.33% |
| 1998-12-31 | $4.04 Billion | -10.94% |
| 1997-12-31 | $4.53 Billion | +18.60% |
| 1996-12-31 | $3.82 Billion | +19.92% |
| 1995-12-31 | $3.19 Billion | +13.82% |
| 1994-12-31 | $2.80 Billion | +191.49% |
| 1993-12-31 | $960.90 Million | +46.26% |
| 1992-12-31 | $657.00 Million | +105.57% |
| 1991-12-31 | $319.60 Million | +152.25% |
| 1990-12-31 | $126.70 Million | +107.70% |
| 1989-12-31 | $61.00 Million | +293.55% |
| 1988-12-31 | $15.50 Million | -62.65% |
| 1987-12-31 | $41.50 Million | -24.41% |
| 1986-12-31 | $54.90 Million | +258.82% |
| 1985-12-31 | $15.30 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to UnitedHealth Group Incorporated's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 8691081.8% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $95.60 Billion | 101.59% |
| Common Stock | $9.00 Million | 0.01% |
| Other Comprehensive Income | $-2.06 Billion | -2.19% |
| Other Components | $559.00 Million | 0.59% |
| Total Equity | $94.11 Billion | 100.00% |
UnitedHealth Group Incorporated Competitors by Market Cap
The table below lists competitors of UnitedHealth Group Incorporated ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Raytheon Technologies Corp
NYSE:RTX
|
$257.28 Billion |
|
Nestle SA
PINK:NSRGF
|
$258.19 Billion |
|
Agricultural Bank of China PK
PINK:ACGBY
|
$259.69 Billion |
|
Oracle Corporation
NYSE:ORCL
|
$266.15 Billion |
|
Roche Holding AG
OTCQX:RHHBF
|
$243.19 Billion |
|
The Goldman Sachs Group, Inc.
LSE:0R3G
|
$241.92 Billion |
|
SAP SE
PINK:SAPGF
|
$238.59 Billion |
|
Goldman Sachs Group Inc
NYSE:GS
|
$236.20 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in UnitedHealth Group Incorporated's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 92,658,000,000 to 94,110,000,000, a change of 1,452,000,000 (1.6%).
- Net income of 12,056,000,000 contributed positively to equity growth.
- Dividend payments of 7,916,000,000 reduced retained earnings.
- Share repurchases of 5,545,000,000 reduced equity.
- New share issuances of 827,000,000 increased equity.
- Other comprehensive income increased equity by 1,326,000,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $12.06 Billion | +12.81% |
| Dividends Paid | $7.92 Billion | -8.41% |
| Share Repurchases | $5.54 Billion | -5.89% |
| Share Issuances | $827.00 Million | +0.88% |
| Other Comprehensive Income | $1.33 Billion | +1.41% |
| Other Changes | $704.00 Million | +0.75% |
| Total Change | $- | 1.57% |
Book Value vs Market Value Analysis
This analysis compares UnitedHealth Group Incorporated's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 2.76x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has decreased from 5224.65x to 2.76x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 1985-12-31 | $0.05 | $285.49 | x |
| 1986-12-31 | $0.13 | $285.49 | x |
| 1987-12-31 | $0.09 | $285.49 | x |
| 1988-12-31 | $0.03 | $285.49 | x |
| 1989-12-31 | $0.09 | $285.49 | x |
| 1990-12-31 | $0.14 | $285.49 | x |
| 1991-12-31 | $0.32 | $285.49 | x |
| 1992-12-31 | $0.60 | $285.49 | x |
| 1993-12-31 | $0.76 | $285.49 | x |
| 1994-12-31 | $1.99 | $285.49 | x |
| 1995-12-31 | $2.25 | $285.49 | x |
| 1996-12-31 | $2.57 | $285.49 | x |
| 1997-12-31 | $2.97 | $285.49 | x |
| 1998-12-31 | $2.65 | $285.49 | x |
| 1999-12-31 | $2.72 | $285.49 | x |
| 2000-12-31 | $2.74 | $285.49 | x |
| 2001-12-31 | $2.98 | $285.49 | x |
| 2002-12-31 | $3.49 | $285.49 | x |
| 2003-12-31 | $4.15 | $285.49 | x |
| 2004-12-31 | $8.14 | $285.49 | x |
| 2005-12-31 | $13.30 | $285.49 | x |
| 2006-12-31 | $14.84 | $285.49 | x |
| 2007-12-31 | $14.74 | $285.49 | x |
| 2008-12-31 | $16.74 | $285.49 | x |
| 2009-12-31 | $20.02 | $285.49 | x |
| 2010-12-31 | $22.83 | $285.49 | x |
| 2011-12-31 | $26.03 | $285.49 | x |
| 2012-12-31 | $29.81 | $285.49 | x |
| 2013-12-31 | $31.43 | $285.49 | x |
| 2014-12-31 | $32.91 | $285.49 | x |
| 2015-12-31 | $34.88 | $285.49 | x |
| 2016-12-31 | $39.67 | $285.49 | x |
| 2017-12-31 | $50.59 | $285.49 | x |
| 2018-12-31 | $52.59 | $285.49 | x |
| 2019-12-31 | $59.64 | $285.49 | x |
| 2020-12-31 | $68.15 | $285.49 | x |
| 2021-12-31 | $75.06 | $285.49 | x |
| 2022-12-31 | $81.87 | $285.49 | x |
| 2023-12-31 | $94.62 | $285.49 | x |
| 2024-12-31 | $99.74 | $285.49 | x |
| 2025-12-31 | $103.42 | $285.49 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently UnitedHealth Group Incorporated utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 12.81%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 2.69%
- • Asset Turnover: 1.45x
- • Equity Multiplier: 3.29x
- Recent ROE (12.81%) is above the historical average (12.20%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1985 | 13.73% | 2.08% | 2.40x | 2.75x | $570.00K |
| 1986 | 11.48% | 2.96% | 1.07x | 3.61x | $810.00K |
| 1987 | -38.07% | -3.63% | 2.07x | 5.07x | $-19.95 Million |
| 1988 | -237.42% | -8.48% | 2.57x | 10.88x | $-38.35 Million |
| 1989 | 22.72% | 3.33% | 1.74x | 3.93x | $7.67 Million |
| 1990 | 26.97% | 5.60% | 2.06x | 2.33x | $21.33 Million |
| 1991 | 23.47% | 8.83% | 1.48x | 1.80x | $42.93 Million |
| 1992 | 17.42% | 7.92% | 1.45x | 1.52x | $48.64 Million |
| 1993 | 20.29% | 7.70% | 1.69x | 1.56x | $98.71 Million |
| 1994 | 59.57% | 44.18% | 1.08x | 1.25x | $1.39 Billion |
| 1995 | 8.97% | 5.04% | 0.92x | 1.93x | $-32.84 Million |
| 1996 | 9.30% | 3.53% | 1.44x | 1.83x | $-26.67 Million |
| 1997 | 10.15% | 3.90% | 1.55x | 1.68x | $6.60 Million |
| 1998 | -4.11% | -0.96% | 1.79x | 2.40x | $-569.80 Million |
| 1999 | 14.70% | 2.90% | 1.90x | 2.66x | $181.70 Million |
| 2000 | 19.96% | 3.48% | 1.91x | 3.00x | $367.20 Million |
| 2001 | 23.46% | 3.89% | 1.88x | 3.21x | $523.90 Million |
| 2002 | 30.53% | 5.40% | 1.77x | 3.20x | $909.20 Million |
| 2003 | 32.27% | 5.79% | 1.62x | 3.44x | $1.14 Billion |
| 2004 | 24.14% | 6.95% | 1.33x | 2.60x | $1.52 Billion |
| 2005 | 17.39% | 6.64% | 1.12x | 2.33x | $1.31 Billion |
| 2006 | 19.99% | 5.81% | 1.48x | 2.32x | $2.08 Billion |
| 2007 | 23.20% | 6.17% | 1.48x | 2.54x | $2.65 Billion |
| 2008 | 14.33% | 3.67% | 1.45x | 2.69x | $899.00 Million |
| 2009 | 16.19% | 4.39% | 1.48x | 2.50x | $1.46 Billion |
| 2010 | 17.94% | 4.92% | 1.49x | 2.44x | $2.05 Billion |
| 2011 | 18.17% | 5.05% | 1.50x | 2.40x | $2.31 Billion |
| 2012 | 17.72% | 5.00% | 1.37x | 2.59x | $2.41 Billion |
| 2013 | 17.50% | 4.59% | 1.50x | 2.55x | $2.41 Billion |
| 2014 | 17.31% | 4.31% | 1.51x | 2.66x | $2.37 Billion |
| 2015 | 17.24% | 3.70% | 1.41x | 3.30x | $2.44 Billion |
| 2016 | 18.27% | 3.80% | 1.51x | 3.20x | $3.18 Billion |
| 2017 | 21.19% | 5.25% | 1.45x | 2.79x | $5.57 Billion |
| 2018 | 23.19% | 5.30% | 1.49x | 2.94x | $6.82 Billion |
| 2019 | 24.02% | 5.71% | 1.39x | 3.02x | $8.08 Billion |
| 2020 | 23.52% | 5.99% | 1.30x | 3.01x | $8.85 Billion |
| 2021 | 24.09% | 6.01% | 1.36x | 2.96x | $10.11 Billion |
| 2022 | 25.87% | 6.21% | 1.32x | 3.16x | $12.34 Billion |
| 2023 | 25.22% | 6.02% | 1.36x | 3.08x | $13.51 Billion |
| 2024 | 15.55% | 3.60% | 1.34x | 3.22x | $5.14 Billion |
| 2025 | 12.81% | 2.69% | 1.45x | 3.29x | $2.65 Billion |
Industry Comparison
This section compares UnitedHealth Group Incorporated's net assets metrics with peer companies in the Healthcare Plans industry.
Industry Context
- Industry: Healthcare Plans
- Average net assets among peers: $8,355,105,250
- Average return on equity (ROE) among peers: -4.30%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| UnitedHealth Group Incorporated (UNH) | $101.70 Billion | 13.73% | 2.04x | $256.27 Billion |
| Alignment Healthcare LLC (ALHC) | $239.30 Million | -62.49% | 1.65x | $2.97 Billion |
| Cigna Corp (CI) | $41.24 Billion | 8.33% | 2.78x | $72.47 Billion |
| Clover Health Investments Corp (CLOV) | $-17.63K | 0.00% | 0.00x | $805.21 Million |
| Centene Corp (CNC) | $326.42 Million | -13.37% | 1.74x | $17.01 Billion |
| CarePayment Technologies Inc (CPYT) | $6.95 Million | -32.50% | 0.49x | $2.47K |
| CVS Health Corp (CVS) | $1.10 Billion | 19.07% | 0.64x | $96.29 Billion |
| Elevance Health Inc (ELV) | $23.81 Billion | 12.12% | 1.15x | $63.54 Billion |
| Humana Inc (HUM) | $16.10 Billion | 18.21% | 1.75x | $20.40 Billion |
| Interact Holdings Group Inc (IHGP) | $-1.46 Million | 0.00% | 0.00x | $334.55 |
| Molina Healthcare Inc (MOH) | $719.06 Million | 7.64% | 1.10x | $6.97 Billion |