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Oscar Health vs Unitedhealth: revenue, profit, margins and growth compared

Oscar Health brought in $11.7B of revenue in fiscal 2025, Unitedhealth $447.6B in fiscal 2025. Revenue changed by +27.5% at Oscar Health and +11.8% at Unitedhealth on the year before, so Oscar Health grew faster. Oscar Health kept -3.8% of its revenue as net profit, Unitedhealth 2.7%. Free cash flow was $1.1B at Oscar Health and $16.1B at Unitedhealth.

Side by side, latest fiscal year

OSCRUNH
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$11.7B$447.6B
Revenue growth+27.5%+11.8%
Net income-$443.2M$12.1B
Net margin-3.8%2.7%
Free cash flow$1.1B$16.1B
Free cash flow margin9.0%3.6%
Earnings per share (diluted)-$1.69$13.23
Cash$2.8B$24.4B
Debt$430.1M$72.3B
Price to earningsn/a28.5
Market value$9.1B$338B
Dividend yieldn/a2.32%
Rank by revenue in sector#41 of 523 · Health care#1 of 523 · Health care

Over the years

Revenue
OSCR FY2019: $488.2MOSCR FY2021: $462.8MOSCR FY2021: $1.8BOSCR FY2022: $4BOSCR FY2023: $5.9BOSCR FY2024: $9.2BOSCR FY2025: $11.7BUNH FY2018: $226.2BUNH FY2019: $242.2BUNH FY2020: $257.1BUNH FY2021: $287.6BUNH FY2022: $324.2BUNH FY2023: $371.6BUNH FY2024: $400.3BUNH FY2025: $447.6BFY18FY19FY20FY21FY22FY23FY24FY25
OSCR $11.7BUNH $447.6B
Net income
OSCR FY2019: -$261.2MOSCR FY2021: -$406.8MOSCR FY2021: -$572.6MOSCR FY2022: -$606.3MOSCR FY2023: -$270.7MOSCR FY2024: $25.4MOSCR FY2025: -$443.2MUNH FY2018: $12BUNH FY2019: $13.8BUNH FY2020: $15.4BUNH FY2021: $17.3BUNH FY2022: $20.1BUNH FY2023: $22.4BUNH FY2024: $14.4BUNH FY2025: $12.1BFY18FY19FY20FY21FY22FY23FY24FY25
OSCR -$443.2MUNH $12.1B
Net margin
OSCR FY2019: -53.5%OSCR FY2021: -87.9%OSCR FY2021: -31.1%OSCR FY2022: -15.3%OSCR FY2023: -4.6%OSCR FY2024: 0.3%OSCR FY2025: -3.8%UNH FY2018: 5.3%UNH FY2019: 5.7%UNH FY2020: 6.0%UNH FY2021: 6.0%UNH FY2022: 6.2%UNH FY2023: 6.0%UNH FY2024: 3.6%UNH FY2025: 2.7%FY18FY19FY20FY21FY22FY23FY24FY25
OSCR -3.8%UNH 2.7%
Revenue growth
OSCR FY2021: -5.2%OSCR FY2021: +297.3%OSCR FY2022: +115.6%OSCR FY2023: +47.9%OSCR FY2024: +56.5%OSCR FY2025: +27.5%UNH FY2019: +7.0%UNH FY2020: +6.2%UNH FY2021: +11.8%UNH FY2022: +12.7%UNH FY2023: +14.6%UNH FY2024: +7.7%UNH FY2025: +11.8%FY19FY20FY21FY22FY23FY24FY25
OSCR +27.5%UNH +11.8%
Free cash flow
OSCR FY2019: -$191.4MOSCR FY2021: $208.7MOSCR FY2021: -$207.6MOSCR FY2022: $351.3MOSCR FY2023: -$297.7MOSCR FY2024: $950.3MOSCR FY2025: $1.1BUNH FY2018: $13.7BUNH FY2019: $16.4BUNH FY2020: $20.1BUNH FY2021: $19.9BUNH FY2022: $23.4BUNH FY2023: $25.7BUNH FY2024: $20.7BUNH FY2025: $16.1BFY18FY19FY20FY21FY22FY23FY24FY25
OSCR $1.1BUNH $16.1B

Fiscal years as each company reports them; the two may end in different months.

Questions about Oscar Health and Unitedhealth

Which is bigger by revenue, Oscar Health or Unitedhealth?

Unitedhealth is bigger by revenue: $447.6B in fiscal 2025, against $11.7B for Oscar Health in fiscal 2025.

Which keeps more of its revenue as profit, Oscar Health or Unitedhealth?

Oscar Health had a net margin of -3.8% in fiscal 2025; Unitedhealth had 2.7% in fiscal 2025.

Which grew revenue faster, Oscar Health or Unitedhealth?

In their latest fiscal years revenue changed by +27.5% at Oscar Health and +11.8% at Unitedhealth.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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