undamentalytics Newsletter

Health Care stocks

690 US-listed companies in the health care sector reported $4.32tn of revenue in their latest fiscal years. UnitedHealth Group is the largest, with $447.6bn. Among companies with at least $100m of revenue, the median grew 9.7% and kept 1.2% of revenue as net income.

Companies690
Combined revenue$4.32tn
Median revenue growth9.7%
Median net margin1.2%
Median return on equity4.6%

Largest health care companies

#CompanyRevenueGrowthNet marginROEFiscal year
1 UnitedHealth GroupUNH $447.6bn 11.8% 2.7% 12.2% 2025
2 McKessonMCK $403.4bn 12.4% 1.2% — 2026
3 CVS HealthCVS $402.1bn 7.8% 0.4% 2.3% 2025
4 CencoraCOR $321.3bn 9.3% 0.5% 144.3% 2025
5 CignaCI $274.9bn 11.2% 2.2% 14.4% 2025
6 Cardinal HealthCAH $254.2bn 14.2% 0.7% — 2026
7 Elevance HealthELV $199.1bn 12.5% 2.8% 13.3% 2025
8 Centene CorporationCNC $194.8bn 19.4% −3.4% −28.8% 2025
9 HumanaHUM $129.7bn 10.1% 0.9% 7.0% 2025
10 Johnson & JohnsonJNJ $94.2bn 6.0% 28.5% 35.0% 2025
11 HCA HealthcareHCA $75.6bn 7.1% 9.0% — 2025
12 Lilly (Eli)LLY $65.2bn 44.7% 31.7% 101.2% 2025
13 Merck & Co.MRK $65.0bn 1.3% 28.1% 36.9% 2025
14 PfizerPFE $62.6bn −1.6% 12.4% 8.9% 2025
15 AbbVieABBV $61.2bn 8.6% 6.9% — 2025
16 Astrazeneca PLCAZN $58.7bn 8.6% 17.4% 22.9% 2025
17 Bristol Myers SquibbBMY $48.2bn −0.2% 14.6% 40.5% 2025
18 Novo Nordisk A SNVO $46.8bn 11.1% 33.1% 61.6% 2025
19 Molina Healthcare, Inc.MOH $45.4bn 11.7% 1.0% 11.0% 2025
20 Thermo Fisher ScientificTMO $44.6bn 3.9% 15.0% 13.0% 2025
21 Abbott LaboratoriesABT $44.3bn 5.7% 14.7% 13.1% 2025
22 GSK plcGSK $43.1bn 7.5% 17.5% 38.5% 2025
23 AmgenAMGN $36.8bn 10.0% 21.0% 106.1% 2025
24 MedtronicMDT $36.4bn 8.4% 13.2% 9.8% 2026
25 Gilead SciencesGILD $29.4bn 2.4% 28.9% 40.5% 2025

Industries in health care

Figures from each company's latest annual report filed with the SEC (10-K or 20-F), as reported, with the fiscal year shown. Not investment advice. How we read filings: methodology.