Analysis of Debt
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- Cash Flow Statement
- Common-Size Income Statement
- Analysis of Short-term (Operating) Activity Ratios
- Analysis of Long-term (Investment) Activity Ratios
- Capital Asset Pricing Model (CAPM)
- Operating Profit Margin since 2005
- Return on Assets (ROA) since 2005
- Total Asset Turnover since 2005
- Price to Book Value (P/BV) since 2005
- Price to Sales (P/S) since 2005
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Total Debt (Carrying Amount)
UnitedHealth Group Inc., balance sheet: debt
US$ in millions
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).
- Short-term borrowings and current maturities of long-term debt
- The short-term borrowings and current maturities of long-term debt exhibited a fluctuating pattern over the observed period. Starting at 4,819 million US dollars at the end of 2020, the figure decreased to 3,620 million in 2021 and further declined to 3,110 million in 2022. However, it reversed this downward trend in subsequent years, increasing to 4,274 million in 2023 and then to 4,545 million in 2024. This indicates a reduction in short-term debt obligations during the early years, followed by a moderate increase towards the most recent periods.
- Long-term debt, less current maturities
- The long-term debt, excluding current maturities, consistently rose throughout the review period. From 38,648 million US dollars in 2020, it increased to 42,383 million in 2021, followed by a more pronounced rise to 54,513 million in 2022. The upward trajectory continued, reaching 58,263 million in 2023 and further escalating to 72,359 million in 2024. This steady growth highlights an increasing reliance on long-term debt financing over these years.
- Total commercial paper, long-term debt, and other financing obligations (carrying amount)
- The total carrying amount of commercial paper, long-term debt, and other financing obligations also displayed a clear upward trend. Beginning at 43,467 million US dollars in 2020, the amount rose gradually to 46,003 million in 2021 and then to 57,623 million in 2022. The increase persisted in subsequent years with figures of 62,537 million in 2023 and 76,904 million in 2024. This pattern indicates an overall growth in total financing obligations across the period under analysis.
- Summary of trends
- Overall, the data reveals a strategic increase in long-term financing commitments, as evidenced by the continuous rise in long-term debt and total financing obligations. While short-term borrowings initially decreased, they began to increase again in the last two years, suggesting a shift in the debt structure or financing strategy. The consistent expansion in total commercial paper, long-term debt, and other financing obligations points to a growing leverage position over the recent five-year period.
Total Debt (Fair Value)
| Dec 31, 2024 | |
|---|---|
| Selected Financial Data (US$ in millions) | |
| Commercial paper | |
| Long-term debt and other financing obligations | |
| Total commercial paper, long-term debt and other financing obligations (fair value) | |
| Financial Ratio | |
| Debt, fair value to carrying amount ratio | |
Based on: 10-K (reporting date: 2024-12-31).
Weighted-average Interest Rate on Debt
Weighted-average interest rate on short-term borrowings and long-term debt:
| Interest rate | Debt amount1 | Interest rate × Debt amount | Weighted-average interest rate2 |
|---|---|---|---|
| Total | |||
Based on: 10-K (reporting date: 2024-12-31).
1 US$ in millions
2 Weighted-average interest rate = 100 × ÷ =