UNH

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Numbers to watch every quarter

Metric2025Q22025Q42026Q2
Earnings from operations
10-Q 2026Q2 statement of operations (comparative)
5,150$M7,991$M
First-half favorable prior-year development
10-Q 2026Q2 Note 4 (comparative)
320$M1,250$M
Medical care ratio
10-Q 2026Q2 MD&A
89.4%86.7%
Medical costs payable
10-Q 2026Q2 Note 4 (2025-12-31)
39,337$M38,930$M
Net earnings attributable to shareholders
10-Q 2026Q2 statement of operations (comparative)
3,406$M5,484$M
Operating margin
10-Q 2026Q2 MD&A
7.1%
Quarterly buybacks
XBRL PaymentsForRepurchaseOfCommonStock
0$M
Quarterly operating cash flow
XBRL
8,910$M
Quarterly revenue
10-Q 2026Q2 statement of operations (comparative)
111,616$M112,032$M
2026Q2 · 10-Q ·

UnitedHealth released $1.25bn of last year's medical-claim reserves into first-half earnings — 3.9 times a year earlier, with the medical care ratio at 86.7%

First-half favorable prior-year reserve development $1,250m (H1 2025: $320m, ×3.9) plus a $236m decrease in premium-deficiency and loss-contract reserves. Q2 medical care ratio (MCR) 86.7% (89.4% a year earlier), first half 85.3% (87.1%). Q2 pre-tax earnings $6,968m (+71%). Medical costs payable $38,930m.
aiSwingX™ analyzes US filings and reports them as news investors can read.
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