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HUMANA INC

HUM· NYSE· Hospital & Medical Service Plans

Market cap
–
P/FCF
–
EV/Sales
–
FCF margin
0.3%
ROIC, 5 yr avg
37.9%
Revenue, 5 yr CAGR
+10.9%
We record prices for the companies we cover; HUM is not one of them yet.

Company statistics

From the 10-Ks, computed in code · point at a figure for its formula

Profile · FY2025

Market cap
–
Enterprise value
–
Diluted shares
120.8M
Revenue
$129.7B
Free cash flow
$375.0M
Owner earnings
$134.0M

Valuation · FY2025

P/E
–
P/FCF
–
P/Owner earnings
–
EV/Sales
–
EV/FCF
–
P/B
–

Margins · FY2025

Gross
–
Operating
2.1%
Net
0.9%
Free cash flow
0.3%
Owner earnings
0.1%
Stock pay
0.2%

Returns

ROIC, FY2025
22.1%
ROIC, 5 yr avg
37.9%
ROE, FY2025
6.7%
ROE, 5 yr avg
13.2%

Growth (CAGR)

Revenue, 3 yr
11.8%
Revenue, 5 yr
10.9%
Revenue, 9 yr
10.1%
Diluted EPS, 3 yr
-23.6%
Diluted EPS, 5 yr
-17.2%
Diluted EPS, 9 yr
10.3%
Free cash flow, 3 yr
-52.3%
Free cash flow, 5 yr
-39.6%
Free cash flow, 9 yr
-13.7%

Financial health · FY2025

Cash and investments
$19.9B
Total debt
$12.4B
Net cash
$7.5B
Debt/Equity
0.7x
Debt/FCF
33.0x

Shareholder returns · FY2025

Dividend yield
–
Payout ratio
36.2%
Buyback yield
–
Shareholder yield
–
Share count, 5 yr
-1.9%

Financials: ten years from the 10-Ks

Reported numbers open their filing · computed ones show the formula · ˢ split-adjusted

Revenue

$129.7B

+10.1% a year over 9 years

FY2016: Revenue $54.4BFY2017: Revenue $53.8BFY2018: Revenue $56.9BFY2019: Revenue $64.9BFY2020: Revenue $77.2BFY2021: Revenue $83.1BFY2022: Revenue $92.9BFY2023: Revenue $106.4BFY2024: Revenue $117.8BFY2025: Revenue $129.7B
FY2016FY2025

Margins

Operating2.1%Net0.9%

FY2025

FY2016: Operating 3.2%, Net 1.1%FY2017: Operating 7.9%, Net 4.6%FY2018: Operating 5.4%, Net 3.0%FY2019: Operating 4.9%, Net 4.2%FY2020: Operating 6.5%, Net 4.4%FY2021: Operating 3.8%, Net 3.5%FY2022: Operating 4.1%, Net 3.0%FY2023: Operating 3.8%, Net 2.3%FY2024: Operating 2.2%, Net 1.0%FY2025: Operating 2.1%, Net 0.9%
FY2016FY2025

Free cash flow and owner earnings

Free cash flow$375.0MOwner earnings$134.0M

Free cash flow -13.7% a year

FY2016: Free cash flow $1.4B, Owner earnings $1.3BFY2017: Free cash flow $3.5B, Owner earnings $3.4BFY2018: Free cash flow $1.6B, Owner earnings $1.4BFY2019: Free cash flow $4.5B, Owner earnings $4.4BFY2020: Free cash flow $4.7B, Owner earnings $4.5BFY2021: Free cash flow $920.0M, Owner earnings $740.0MFY2022: Free cash flow $3.5B, Owner earnings $3.2BFY2023: Free cash flow $3.0B, Owner earnings $2.8BFY2024: Free cash flow $2.4B, Owner earnings $2.2BFY2025: Free cash flow $375.0M, Owner earnings $134.0M
FY2016FY2025

Diluted shares

120.8M

-19.9% over 9 years, net buybacks

FY2016: Diluted shares 150.9MFY2017: Diluted shares 145.6MFY2018: Diluted shares 138.4MFY2019: Diluted shares 134.7MFY2020: Diluted shares 133.0MFY2021: Diluted shares 129.4MFY2022: Diluted shares 127.1MFY2023: Diluted shares 124.4MFY2024: Diluted shares 120.9MFY2025: Diluted shares 120.8M
FY2016FY2025

Return on invested capital

22.1%

FY2025

FY2016: ROIC 20.8%FY2017: ROIC 223.2%FY2018: ROIC 65.2%FY2019: ROIC 125.9%FY2020: ROIC 140.2%FY2021: ROIC 26.9%FY2022: ROIC 55.3%FY2023: ROIC 58.3%FY2024: ROIC 26.9%FY2025: ROIC 22.1%
FY2016FY2025

Net cash

$7.5B

$7.5B more cash than debt

FY2016: Net cash $7.4BFY2017: Net cash $8.7BFY2018: Net cash $6.3BFY2019: Net cash $10.1BFY2020: Net cash $11.2BFY2021: Net cash $6.0BFY2022: Net cash $9.9BFY2023: Net cash $11.1BFY2024: Net cash $9.3BFY2025: Net cash $7.5B
FY2016FY2025

Every figure, year by year

Fiscal yearFY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
The business
Revenue$54.4B$53.8B$56.9B$64.9B$77.2B$83.1B$92.9B$106.4B$117.8B$129.7B
Revenue growth0.2%-1.1%5.8%14.0%18.9%7.7%11.8%14.5%10.7%10.1%
Gross margin––––––––––
Operating margin3.2%7.9%5.4%4.9%6.5%3.8%4.1%3.8%2.2%2.1%
Net income$614.0M$2.4B$1.7B$2.7B$3.4B$2.9B$2.8B$2.5B$1.2B$1.2B
Net margin1.1%4.6%3.0%4.2%4.4%3.5%3.0%2.3%1.0%0.9%
Diluted EPS$4.07$16.81$12.16$20.10$25.31$22.67$22.08$20.00$9.98$9.84
Return on invested capital?20.8%223.2%65.2%125.9%140.2%26.9%55.3%58.3%26.9%22.1%
Cash
Operating cash flow$1.9B$4.1B$2.2B$5.3B$5.6B$2.3B$4.6B$4.0B$3.0B$921.0M
Capital expenditure$527.0M$524.0M$612.0M$736.0M$964.0M$1.3B$1.1B$1.0B$575.0M$546.0M
Free cash flow$1.4B$3.5B$1.6B$4.5B$4.7B$920.0M$3.5B$3.0B$2.4B$375.0M
Stock-based compensation$115.0M$157.0M$137.0M$163.0M$181.0M$180.0M$216.0M$175.0M$207.0M$241.0M
Owner earnings?$1.3B$3.4B$1.4B$4.4B$4.5B$740.0M$3.2B$2.8B$2.2B$134.0M
Free cash flow per share$9.34$24.23$11.28$33.76$35.15$7.11$27.15$23.92$19.78$3.10
Capital allocation
Dividends paid$177.0M$220.0M$265.0M$291.0M$323.0M$354.0M$392.0M$431.0M$431.0M$430.0M
Share repurchases$104.0M$3.4B$1.1B$1.1B$1.8B$79.0M$2.1B$1.6B$817.0M$151.0M
Diluted shares150.9M145.6M138.4M134.7M133.0M129.4M127.1M124.4M120.9M120.8M
Share count change?-0.1%-3.5%-4.9%-2.7%-1.3%-2.7%-1.8%-2.1%-2.9%0.0%
Balance sheet
Cash and equivalents$3.9B$4.0B$2.3B$4.1B$4.7B$3.4B$5.1B$4.7B$2.2B$4.2B
Short-term investments$7.6B$9.6B$10.0B$11.0B$12.6B$13.2B$13.9B$16.6B$18.2B$15.7B
Total debt$4.1B$4.9B$6.1B$5.0B$6.1B$10.5B$9.0B$10.2B$11.1B$12.4B
Net debt-$7.4B-$8.7B-$6.3B-$10.1B-$11.2B-$6.0B-$9.9B-$11.1B-$9.3B-$7.5B
Shareholders' equity$10.7B$9.8B$10.2B$12.0B$13.7B$16.1B$15.3B$16.3B$16.4B$17.7B

Latest filings

All on EDGAR
2026-07-2910-QQuarterly report
2026-07-298-KEarnings release
2026-04-2910-QQuarterly report
2026-04-298-KEarnings release
2026-03-06DEF 14AProxy statement
2026-02-1910-KAnnual report
2026-02-118-KEarnings release
2025-11-0510-QQuarterly report
2025-11-058-KEarnings release
2025-07-3010-QQuarterly report

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