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UnitedHealth GroupLargest US healthcare company; UnitedHealthcare insurance + Optum services; ~$400B 2024 revenue. Stock collapsed from $610 (Nov 2024) to $280 (May 2025) after Brian Thompson killing, DOJ Optum probe, MA cuts, Q1 2025 miss.
Medical Loss Ratio — share of premium dollars paid out as medical claims. Lower is more profitable for the insurer. UNH targeted ~82-83% historically; 2024-25 spiked from Medicare Advantage cost inflation, V28 risk-coding changes, and post-pandemic utilization normalization.
Q1 2022 — Q1 2026
Source: UnitedHealth Group 10-Q earnings releases (Q1 2022 - Q1 2026) (Updated: 2026-Q1)
Segment revenue (pre-intersegment elimination) showing the 50/50 structure. Optum (Health + Rx + Insight) has grown to rival the UnitedHealthcare insurance arm and is the bull case for UNH.
2020 — 2024
Source: UnitedHealth Group 10-K filings (segment data, 2020-2024) (Updated: 2025-FY)
Quarterly breakdown of revenue by product line and service category
2021-Q2 — 2026-Q1
Data from SEC filings via FMP • 43 periods available