UNH Unitedhealth Group margins

Relative Growth: Rel. Growth: 42

Relative Strength: Rel. Strength: 68

Relative Valuation: Rel. Valuation: 58

Relative Profitability: Rel. Profitability: 46

Gross margin

19.5%

Operating margin

4.8%

EBITDA margin

5.5%

Net margin

3.1%

Using the latest TTM figures, Unitedhealth Group shows a gross margin of 19.5%, an operating margin of 4.8%, an EBITDA margin of 5.5%, and a net margin of 3.1%. The company's available margins all declined, with EBITDA margin recording the strongest contraction of 2.6 percentage points.

UNH margin history

Gross, operating, EBITDA and net margin trends

Looking back over the last 3 years, Unitedhealth Group recorded average margins of 21.8% gross, 7.12% operating, 7.21% EBITDA, and 4.15% net. Compared with their three-year averages, all four current margins are lower.

UNH margin expansion

Year-over-year margin changes in percentage points

Unitedhealth Group's gross margin contracted by 1.3 percentage points, operating margin by 2.5 percentage points, EBITDA margin by 2.6 percentage points, and net margin by 1.9 percentage points, led by EBITDA margin with a decline of 2.6 percentage points.

Gross margin expansion

-1.3pp

Operating margin expansion

-2.5pp

EBITDA margin expansion

-2.6pp

Net margin expansion

-1.9pp

UNH Gross margin

The average gross margin for Unitedhealth Group was 21.8% during the last 3 years. At present, the current gross margin for Unitedhealth Group is 19.5%, 2.3 percentage points below its three-year average. The gross margin for Unitedhealth Group moved between 18.5% in Dec 2025 and 25% in Sep 2023.

UNH Operating margin

Over the last 3 years, the average operating margin for Unitedhealth Group was 7.12%. Unitedhealth Group currently reports an operating margin of 4.8%, 2.3 percentage points below its three-year average. Unitedhealth Group's operating margin ranged from a low of 4.2% in Dec 2025 to a high of 8.8% in Sep 2023.

UNH EBITDA margin

The average EBITDA margin for Unitedhealth Group was 7.21% over the last 3 years. Unitedhealth Group's current EBITDA margin is 5.5% and is 1.7 percentage points below its three-year average. The EBITDA margin for Unitedhealth Group moved between 4.9% in Mar 2026 and 9.7% in Sep 2023.

UNH Net margin

Unitedhealth Group recorded an average net margin of 4.15% across the last 3 years. As of the latest period, Unitedhealth Group's current net margin is 3.1%, which is 1.1 percentage points below its three-year average. The net margin for Unitedhealth Group moved between 2.7% in Dec 2025 and 6% in Dec 2023.

UNH margin group comparison

Margins compared with peer-group, industry and sector averages

With a gross margin of 19.5%, UNH is above the industry average but below the Healthcare sector average. Compared to its Healthcare sector average of 68.5%, Unitedhealth Group's gross margin is 72% lower.

UNH margin peer comparison

Compare margins with selected peers

Frequently asked questions

What is Unitedhealth Group's gross margin?

The current gross margin for UNH is 19.5% as of Jun 30, 2026.

What is Unitedhealth Group's operating margin?

The current operating margin for UNH is 4.8% as of Jun 30, 2026.

What is Unitedhealth Group's EBITDA margin?

The current EBITDA margin for UNH is 5.5% as of Jun 30, 2026.

What is Unitedhealth Group's net margin?

The current net margin for UNH is 3.1% as of Jun 30, 2026.

What are the average margins of UNH?

Unitedhealth Group's average margins over the last 3 years were 21.8% gross, 7.1% operating, 7.2% EBITDA, and 4.2% net.

What are the highest historical margins of UNH?

Across the 5-year period, UNH posted its highest margins at 25% gross in Sep 2023, 8.8% operating in Sep 2023, 9.7% EBITDA in Sep 2023, and 6.2% net in Mar 2023.

What are the lowest historical margins of UNH?

Over this 5-year history, Unitedhealth Group's margins fell as low as 18.5% gross in Dec 2025, 4.2% operating in Dec 2025, 4.9% EBITDA in Mar 2026, and 2.7% net in Dec 2025.