What trends are visible in UnitedHealth's revenue cost over time?

UnitedHealth Group's revenue and cost trends over the past five years demonstrate consistent growth in revenue and a relatively stable cost of goods sold as a percentage of revenue.

1. **Revenue Growth**: The cumulative revenue has increased from $257.14 billion in 2020 to $400.28 billion in 2024, indicating a strong upward trajectory in the company's financial performance.
2. **Cost Stability**: The cost of goods sold has shown a general increase, from $61.22 billion in 2020 to $91.99 billion in 2024, but it has not grown at the same rate as revenue. This suggests that the cost structure is becoming more efficient or that the company is managing its costs effectively relative to its growing revenue.
3. **Margin Improvement**: The fact that the cost of goods sold as a percentage of revenue has not increased significantly, despite the increase in revenue, implies that the company's profit margins may be improving. This is a positive sign for the company's financial health and its ability to generate profits from its operations.

|code|Ticker|Name|Date|Total Revenue (FY)|Occupancy Cost (FY)|market_code|
|---|---|---|---|---|---|---|
|UNH|UNH.N|UnitedHealth Group|2020|2.57141E11||169|
|UNH|UNH.N|UnitedHealth Group|2021|2.87597E11||169|
|UNH|UNH.N|UnitedHealth Group|2022|3.24162E11||169|
|UNH|UNH.N|UnitedHealth Group|2023|3.71622E11||169|
|UNH|UNH.N|UnitedHealth Group|2024|4.00278E11||169|