UnitedHealth Group is now the fourth-largest company in the world by revenue, according to the 2026 Fortune Global 500.
The list ranks the world’s largest public and private companies by revenue for the 2025 fiscal year. UnitedHealth posted more than $447 billion in revenue last year, up 11.8% year over year, and climbed three spots from a year ago. Only Amazon, Walmart and Chinese utility company State Grid brought in more revenue.
Healthcare overall was the fifth-largest sector on the list with 31 companies total. Among those, McKesson ranked seventh with $403 billion in revenue, followed by CVS Health in ninth place with $402 billion, Cencora at No. 16 with $321 billion and Cigna Group at No. 21 with $274 billion.
The ranking caps a year in which UnitedHealth’s size has drawn scrutiny from lawmakers and investors. CEO Stephen Hemsley and four other payer executives faced bipartisan questioning over vertical integration at two congressional hearings in January, and a federal bill proposed in in February would force divestitures at vertically integrated insurers.
UnitedHealth reported only 10 subsidiaries last year, down from thousands the year before, after a July 2025 report pegged its corporate structure at nearly 2,700 subsidiaries spanning insurance, care delivery, pharmacy, technology and admnistrative assets.
The company posted $112 billion in second-quarter 2026 revenue and $5.5 billion in profit on July 16. It raised its full-year adjusted earnings outlook to between $19.50 and $20 per share while maintaining annual revenue guidance above $439 billion.
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