CompaniesRanked

2874 companies · fiscal year 2025 · SEC EDGAR · September 25, 2026

Largest healthcare companies by operating income

Operating income is profit from the core business before interest and tax. It strips out financing decisions, so it compares operations rather than balance sheets. Figures are for fiscal year 2025 and are read directly from each company's SEC filings; the source column on every row links to the document.

Ranks 1–100 of 197 · Fiscal year 2025 · Data as of September 25, 2026

Johnson & Johnson (JNJ) tops the list with $32.6B in operating income for fiscal 2025, ahead of Eli Lilly ($25.7B) and Merck ($21.1B). The top 10 together report $177B in operating income; the gap between #1 and #10 is ×3.31. 197 companies in Healthcare report operating income, 9.2% of the 2135-filer universe. The last place on the list, Embecta, comes in at $242M.

Operating income
#CompanyOperating incomeYoY15-year trend
1Johnson & JohnsonJNJUS$32.6B+95.2%
2Eli LillyLLYUS$25.7B+102.9%
3MerckMRKUS$21.1B+5.7%
4Novo Nordisk A SNVODK$19.3B+3.8%
5UnitedHealth GroupUNHUS$19.0B−41.3%
6AbbVieABBVUS$15.1B+65.0%
7AstraZenecaAZNGB$13.7B+37.4%
8GSKGSKGB$10.5B+103.5%
9Gilead SciencesGILDUS$10.0B+503.0%
10HCA HealthcareHCAUS$9.8B+15.4%
11Bristol Myers SquibbBMYUS$9.3B+$17.7B
12Cigna GroupCIUS$9.2B−2.3%
13AmgenAMGNUS$9.1B+25.1%
14Abbott LaboratoriesABTUS$8.1B+18.0%
15PfizerPFEUS$7.5B−6.3%
16Elevance HealthELVUS$7.2B−8.4%
17MedtronicMDTIE$6.5B+8.6%
18McKessonMCKUS$6.2B+40.5%
19StrykerSYKUS$4.9B+32.5%
20CVS HealthCVSUS$4.7B−45.3%
213MMMMUS$4.6B−4.0%
22AflacAFLUS$4.5B−29.4%
23Vertex PharmaceuticalsVRTXUS$4.2B+$4.4B
24Boston ScientificBSXUS$3.6B+38.8%
25Regeneron PharmaceuticalsREGNUS$3.6B−10.3%
26Tenet HealthcareTHCUS$3.5B−41.1%
27ZoetisZTSUS$3.4B+7.2%
28Intuitive SurgicalISRGUS$2.9B+25.4%
29GE Healthcare TechnologiesGEHCUS$2.8B+5.3%
30HumanaHUMUS$2.7B+5.5%
31CencoraCORUS$2.6B+20.8%
32Becton DickinsonBDXUS$2.6B+7.6%
33Cardinal HealthCAHUS$2.3B+83.0%
34MedlineMDLNUS$2.2B+3.1%
35IQVIA HoldingsIQVUS$2.2B−0.9%
36SolventumSOLVUS$2.2B+110.5%
37Teva Pharmaceutical IndustriesTEVAIL$2.2B+$2.5B
38Fresenius Medical CareFMSDE$2.1B+37.0%
39DavitaDVAUS$2.0B−2.2%
40Universal Health ServicesUHSUS$2.0B+18.6%
41Bausch Health CompaniesBHCCA$1.8B+17.3%
42ResmedRMDUS$1.7B+27.7%
43Koninklijke PhilipsPHGNL$1.6B+181.0%
44Royalty PharmaRPRXUS$1.6B+20.7%
45BiogenBIIBUS$1.6B−18.3%
46Quest DiagnosticsDGXUS$1.6B+15.6%
47IncyteINCYUS$1.5B+2,368.6%
48United TherapeuticsUTHRUS$1.5B+8.4%
49Community Health SystemsCYHUS$1.5B+174.5%
50Labcorp HoldingsLHUS$1.4B+27.4%
51Idexx LaboratoriesIDXXUS$1.4B+20.5%
52AlconALCUS$1.4B−3.8%
53Edwards LifesciencesEWUS$1.3B−8.3%
54SterisSTEIE$1.1B+27.1%
55Zimmer BiometZBHUS$1.1B−14.6%
56GenmabGMABDK$1.1B+9.6%
57Encompass HealthEHCUS$953M+27.1%
58Unum GroupUNMUS$934M−58.5%
59DexcomDXCMUS$912M+52.0%
60ExelixisEXELUS$872M+44.3%
61PTC TherapeuticsPTCTUS$867M+$1.2B
62Smith & NephewSNNGB$794M+20.9%
63Molina HealthcareMOHUS$781M−54.2%
64Cooper CompaniesCOOUS$683M−3.2%
65Neurocrine BiosciencesNBIXUS$619M+8.5%
66West Pharmaceutical ServicesWSTUS$585M+2.6%
67Cno FinancialCNOUS$553M+0.4%
68Align TechnologyALGNUS$546M−10.2%
69Medpace HoldingsMEDPUS$535M+19.7%
70Alnylam PharmaceuticalsALNYUS$502M+$678M
71HerbalifeHLFKY$481M+24.6%
72Globus MedicalGMEDUS$480M+189.1%
73InsuletPODDUS$474M+53.4%
74Halozyme TherapeuticsHALOUS$469M−15.0%
75QiagenQGENNL$466M+376.8%
76NovavaxNVAXUS$453M+$702M
77Beone MedicinesONCCH$447M+$1.0B
78IconICLRIE$443M−57.1%
79Ensign GroupENSGUS$425M+18.7%
80OrganonOGNUS$425M−47.3%
81Biomarin PharmaceuticalBMRNUS$409M−15.4%
82Amneal PharmaceuticalsAMRXUS$394M+58.1%
83Surgery PartnersSGRYUS$390M+11.7%
84Msa SafetyMSAUS$372M−4.5%
85Biocryst PharmaceuticalsBCRXUS$341M+$344M
86ChemedCHEUS$338M−7.7%
87Option Care HealthOPCHUS$338M+5.0%
88Concentra Group Holdings ParentCONUS$334M+9.6%
89Lakefront BiotherapeuticsLKFTBE$333M+$537M
90Bright Horizons Family SolutionsBFAMUS$315M+27.6%
91Lantheus HoldingsLNTHUS$311M−32.0%
92Pacs GroupPACSUS$310M+151.6%
93Prestige Consumer HealthcarePBHUS$309M−8.1%
94Brightspring Health ServicesBTSGUS$295M+173.5%
95Ardent HealthARDTUS$286M−21.1%
96Indivior PharmaceuticalsINDVUS$262M+589.5%
97Catalyst PharmaceuticalsCPRXUS$258M+32.1%
98Aveanna HealthcareAVAHUS$256M+83.5%
99AlkermesALKSIE$254M−39.6%
100EmbectaEMBCUS$242M+45.1%

All figures from SEC filings · FY2025 · 100

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<p style="max-width:680px;font:13px system-ui,sans-serif">Source: <a href="https://companiesranked.com/en/largest-healthcare-companies-by-operating-income">Largest healthcare companies by operating income</a> — CompaniesRanked, compiled from SEC EDGAR filings</p>

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{{cite web |title=Largest healthcare companies by operating income |url=https://companiesranked.com/en/largest-healthcare-companies-by-operating-income |website=CompaniesRanked |date=2026-09-25 |language=en}}

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CompaniesRanked. (September 25, 2026). Largest healthcare companies by operating income. CompaniesRanked. https://companiesranked.com/en/largest-healthcare-companies-by-operating-income

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@misc{companiesranked-en-largest-healthcare-companies-by-operating-income-2026,
  author       = {{CompaniesRanked}},
  title        = {{Largest healthcare companies by operating income}},
  year         = {2026},
  howpublished = {\url{https://companiesranked.com/en/largest-healthcare-companies-by-operating-income}},
  note         = {Compiled from SEC EDGAR XBRL filings; data as of 2026-09-25},
  urldate      = {2026-09-25}
}

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