NYSE : HUM
Humana Inc. — Financial statements
Healthcare · Healthcare Plans · United States
Last price 414.5 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 49.77B
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Premiums & Annuity Revenue | 138.14B | 122.83B | 112.10B | 101.27B | 87.71B | 79.82B |
| Total Interest & Dividend Income | 1.09B | 1.06B | 1.20B | 1.12B | 587.00M | 317.00M |
| Gain (Loss) on Sale of Investments | -110.00M | -50.00M | 24.00M | -54.00M | -205.00M | -130.00M |
| Other Revenue | 6.56B | 5.83B | 4.43B | 4.03B | 4.78B | 3.06B |
| Total Revenue | 145.68B | 129.66B | 117.76B | 106.37B | 92.87B | 83.06B |
| Policy Benefits | 125.79B | 110.81B | 100.66B | 88.39B | 75.69B | 69.20B |
| Depreciation & Amortization | 659.00M | 698.00M | 839.00M | 779.00M | 709.00M | 596.00M |
| Selling, General & Administrative | 15.88B | 14.87B | 13.21B | 12.63B | 12.20B | 10.12B |
| Total Operating Expenses | 142.33B | 126.38B | 114.72B | 101.80B | 88.60B | 79.92B |
| Operating Income | 3.35B | 3.28B | 3.04B | 4.57B | 4.27B | 3.15B |
| Interest Expense | -704.00M | -631.00M | -660.00M | -493.00M | -401.00M | -326.00M |
| Earnings From Equity Investments | -77.00M | -102.00M | -94.00M | -63.00M | -4.00M | 65.00M |
| Other Non Operating Income (Expenses) | -265.00M | -451.00M | -181.00M | -137.00M | -68.00M | 532.00M |
| EBT Excluding Unusual Items | 2.31B | 2.10B | 2.11B | 3.88B | 3.80B | 3.42B |
| Merger & Restructuring Charges | -550.00M | -449.00M | -281.00M | -506.00M | -473.00M | |
| Gain (Loss) on Sale of Assets | -67.00M | -67.00M | 237.00M | |||
| Asset Writedown | -96.00M | -128.00M | -200.00M | -55.00M | ||
| Pretax Income | 1.59B | 1.45B | 1.63B | 3.32B | 3.56B | 3.42B |
| Income Tax Expense | 298.00M | 250.00M | 413.00M | 836.00M | 762.00M | 485.00M |
| Earnings From Continuing Ops. | 1.29B | 1.20B | 1.21B | 2.48B | 2.80B | 2.93B |
| Minority Interest in Earnings | -16.00M | -15.00M | -7.00M | 5.00M | 4.00M | -1.00M |
| Net Income | 1.28B | 1.19B | 1.21B | 2.49B | 2.81B | 2.93B |
| Net Income to Common | 1.28B | 1.19B | 1.21B | 2.49B | 2.81B | 2.93B |
| Shares Outstanding (Basic) | 120.25M | 120.45M | 120.57M | 123.87M | 126.42M | 128.69M |
| Shares Outstanding (Diluted) | 120.88M | 120.83M | 120.87M | 124.44M | 127.09M | 129.40M |
| EPS (Basic) | 10.64 | 9.86 | 10.01 | 20.09 | 22.20 | 22.79 |
| EPS (Diluted) | 10.59 | 9.84 | 9.98 | 20.00 | 22.08 | 22.67 |
| Free Cash Flow | 1.95B | 375.00M | 2.39B | 2.98B | 3.45B | 920.00M |
| Free Cash Flow Per Share | 16.12 | 3.10 | 19.78 | 23.92 | 27.14 | 7.11 |
| Dividend Per Share | 3.54 | 3.54 | 3.54 | 3.54 | 3.15 | 2.80 |
| Operating Margin | 2.30% | 2.53% | 2.58% | 4.30% | 4.60% | 3.79% |
| Profit Margin | 0.88% | 0.92% | 1.03% | 2.34% | 3.02% | 3.53% |
| Free Cash Flow Margin | 1.34% | 0.29% | 2.03% | 2.80% | 3.72% | 1.11% |
| EBITDA | 3.60B | 3.57B | 3.35B | 4.90B | 4.59B | 3.42B |
| EBITDA Margin | 2.47% | 2.75% | 2.84% | 4.61% | 4.95% | 4.12% |
| D&A For EBITDA | 244.00M | 288.00M | 308.00M | 328.00M | 320.00M | 270.00M |
| EBIT | 3.35B | 3.28B | 3.04B | 4.57B | 4.27B | 3.15B |
| EBIT Margin | 2.30% | 2.53% | 2.58% | 4.30% | 4.60% | 3.79% |
| Effective Tax Rate | 18.71% | 17.21% | 25.38% | 25.18% | 21.38% | 14.19% |
| Revenue as Reported | 145.68B | 129.66B | 117.76B | 106.37B | 92.87B | 83.06B |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Investments in Equity & Preferred Securities | 627.00M | 638.00M | 697.00M | 740.00M | 749.00M | 141.00M |
| Other Investments | 17.64B | 16.25B | 18.64B | 17.01B | 14.26B | 13.97B |
| Total Investments | 18.27B | 16.89B | 19.33B | 17.75B | 15.01B | 14.11B |
| Cash & Equivalents | 6.89B | 4.20B | 2.22B | 4.69B | 5.06B | 3.39B |
| Reinsurance Recoverable | 514.00M | 696.00M | 1.89B | |||
| Other Receivables | 5.70B | 5.17B | 4.40B | 4.33B | 3.67B | 3.81B |
| Property, Plant & Equipment | 2.10B | 2.72B | 2.98B | 3.54B | 3.74B | 3.75B |
| Goodwill | 10.48B | 9.69B | 9.63B | 9.55B | 9.14B | 11.09B |
| Other Intangible Assets | 1.18B | 1.13B | 1.44B | 1.69B | 1.76B | 2.64B |
| Other Current Assets | 10.52B | 7.66B | 4.98B | 3.82B | 2.87B | 2.60B |
| Long-Term Deferred Tax Assets | 84.00M | 260.00M | ||||
| Other Long-Term Assets | 2.05B | 1.37B | 1.24B | 1.17B | 1.10B | 1.06B |
| Total Assets | 57.20B | 48.91B | 46.48B | 47.06B | 43.05B | 44.36B |
| Accounts Payable | 7.26B | 5.59B | 5.13B | 4.36B | 3.68B | 3.79B |
| Insurance & Annuity Liabilities | 2.13B | 1.48B | 728.00M | |||
| Unpaid Claims | 12.88B | 9.97B | 10.44B | 10.24B | 9.26B | 8.29B |
| Unearned Premiums | 249.00M | 356.00M | 260.00M | 266.00M | 286.00M | 254.00M |
| Current Portion of Long-Term Debt | 949.00M | 577.00M | 572.00M | 1.50B | 998.00M | |
| Current Portion of Leases | 126.00M | 130.00M | 149.00M | 152.00M | 185.00M | |
| Short-Term Debt | 1.67B | 306.00M | 403.00M | 1.22B | 893.00M | 1.28B |
| Long-Term Debt | 12.12B | 12.42B | 11.27B | 10.21B | 9.03B | 10.54B |
| Long-Term Leases | 418.00M | 392.00M | 444.00M | 456.00M | 546.00M | |
| Long-Term Deferred Tax Liabilities | 48.00M | 27.00M | 698.00M | |||
| Other Long-Term Liabilities | 2.79B | 1.99B | 1.43B | 1.09B | 912.00M | 945.00M |
| Total Liabilities | 37.92B | 31.17B | 30.03B | 30.75B | 27.68B | 28.25B |
| Common Stock | 33.00M | 33.00M | 33.00M | 33.00M | 33.00M | 33.00M |
| Additional Paid-In Capital | 3.70B | 3.60B | 3.46B | 3.35B | 3.25B | 3.08B |
| Retained Earnings | 30.74B | 29.07B | 28.32B | 27.54B | 25.49B | 23.09B |
| Treasury Stock | -14.51B | -14.42B | -14.37B | -13.66B | -12.16B | -10.16B |
| Comprehensive Income & Other | -751.00M | -633.00M | -1.07B | -999.00M | -1.30B | 42.00M |
| Total Common Equity | 19.21B | 17.66B | 16.38B | 16.26B | 15.31B | 16.08B |
| Minority Interest | 64.00M | 80.00M | 70.00M | 56.00M | 59.00M | 23.00M |
| Shareholders' Equity | 19.28B | 17.74B | 16.45B | 16.32B | 15.37B | 16.10B |
| Total Liabilities & Equity | 57.20B | 48.91B | 46.48B | 47.06B | 43.05B | 44.36B |
| Filing Date Shares Outstanding | 120.08M | 120.60M | 120.64M | 120.65M | 124.97M | 126.63M |
| Total Common Shares Outstanding | 120.08M | 120.59M | 120.64M | 122.22M | 124.97M | 128.80M |
| Total Debt | 14.74B | 13.27B | 12.78B | 12.60B | 12.03B | 13.55B |
| Net Cash (Debt) | -7.85B | -9.07B | -10.55B | -7.91B | -6.97B | -10.16B |
| Net Cash Per Share | -64.95 | -75.07 | -87.32 | -63.55 | -54.85 | -78.50 |
| Book Value Per Share | 160.00 | 146.42 | 135.73 | 133.05 | 122.51 | 124.84 |
| Tangible Book Value | 7.55B | 6.84B | 5.30B | 5.02B | 4.40B | 2.35B |
| Tangible Book Value Per Share | 62.86 | 56.75 | 43.94 | 41.06 | 35.24 | 18.24 |
| Land | 15.00M | 17.00M | 16.00M | 17.00M | 17.00M | |
| Buildings | 1.06B | 1.04B | 1.00B | 1.14B | 1.13B | |
| Machinery | 1.45B | 1.40B | 1.32B | 1.25B | 1.15B |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 1.28B | 1.19B | 1.21B | 2.49B | 2.81B | 2.93B |
| Depreciation & Amortization | 244.00M | 288.00M | 308.00M | 328.00M | 320.00M | 270.00M |
| Other Amortization | 536.00M | 536.00M | 660.00M | 589.00M | 525.00M | 443.00M |
| Gain (Loss) on Sale of Assets | 67.00M | 67.00M | -237.00M | |||
| Gain (Loss) on Sale of Investments | 89.00M | 50.00M | -24.00M | 54.00M | 205.00M | -999.00M |
| Stock-Based Compensation | 247.00M | 241.00M | 207.00M | 175.00M | 216.00M | 180.00M |
| Change in Accounts Receivable | -1.16B | -570.00M | -669.00M | -337.00M | -54.00M | -280.00M |
| Change in Unearned Revenue | -25.00M | 96.00M | -6.00M | -20.00M | 32.00M | -65.00M |
| Change in Insurance Reserves / Liabilities | 1.82B | -472.00M | 199.00M | 915.00M | 975.00M | 104.00M |
| Change in Other Net Operating Assets | -864.00M | -851.00M | 630.00M | -477.00M | -419.00M | -315.00M |
| Other Operating Activities | 99.00M | 90.00M | -77.00M | -59.00M | -34.00M | 56.00M |
| Operating Cash Flow | 2.54B | 921.00M | 2.97B | 3.98B | 4.59B | 2.26B |
| Capital Expenditures | -590.00M | -546.00M | -575.00M | -1.00B | -1.14B | -1.34B |
| Sale of Property, Plant & Equipment | 23.00M | 23.00M | 7.00M | 210.00M | 17.00M | 26.00M |
| Cash Acquisitions | -1.01B | -81.00M | -89.00M | -233.00M | -337.00M | -4.19B |
| Investment in Securities | 208.00M | 2.76B | -2.25B | -2.46B | -2.25B | -1.05B |
| Other Investing Activities | -50.00M | |||||
| Investing Cash Flow | -1.21B | 2.27B | -2.95B | -3.49B | -1.01B | -6.56B |
| Short-Term Debt Issued | 220.00M | 468.00M | 366.00M | 358.00M | ||
| Long-Term Debt Issued | 1.48B | 2.23B | 2.54B | 1.98B | 5.48B | |
| Total Debt Issued | 2.57B | 1.70B | 2.70B | 2.91B | 1.98B | 5.84B |
| Total Debt Repaid | -450.00M | -1.05B | -2.01B | -2.43B | -3.40B | -2.08B |
| Net Debt Issued (Repaid) | 2.12B | 651.00M | 686.00M | 478.00M | -1.42B | 3.76B |
| Repurchases of Common Stock | -150.00M | -151.00M | -817.00M | -1.57B | -2.10B | -79.00M |
| Common Dividends Paid | -430.00M | -430.00M | -431.00M | -431.00M | -392.00M | -354.00M |
| Other Financing Activities | -63.00M | -209.00M | 8.00M | -158.00M | 3.00M | -10.00M |
| Financing Cash Flow | 1.53B | -1.22B | -2.49B | -856.00M | -1.91B | 3.02B |
| Net Cash Flow | 2.85B | 1.98B | -2.47B | -367.00M | 1.67B | -1.28B |
| Free Cash Flow | 1.95B | 375.00M | 2.39B | 2.98B | 3.45B | 920.00M |
| Free Cash Flow Margin | 1.34% | 0.29% | 2.03% | 2.80% | 3.72% | 1.11% |
| Free Cash Flow Per Share | 16.12 | 3.10 | 19.78 | 23.92 | 27.14 | 7.11 |
| Levered Free Cash Flow | 1.94B | 1.32B | -1.31B | 759.62M | 4.49B | -694.25M |
| Unlevered Free Cash Flow | 2.38B | 1.72B | -898.12M | 1.07B | 4.74B | -490.50M |
| Cash Interest Paid | 649.00M | 628.00M | 584.00M | 394.00M | 354.00M | 285.00M |
| Cash Income Tax Paid | 384.00M | 272.00M | 570.00M | 997.00M | 758.00M | 227.00M |
| Change in Working Capital | -234.00M | -1.80B | 154.00M | 81.00M | 534.00M | -556.00M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 48.82B | 30.81B | 30.55B | 56.36B | 64.84B | 59.62B |
| Enterprise Value | 56.67B | 38.43B | 38.87B | 53.24B | 62.18B | 67.84B |
| PE Ratio | 38.40 | 25.93 | 25.31 | 22.64 | 23.11 | 20.33 |
| PS Ratio | 0.34 | 0.24 | 0.26 | 0.53 | 0.70 | 0.72 |
| PB Ratio | 2.59 | 1.74 | 1.86 | 3.45 | 4.22 | 3.70 |
| P/FCF Ratio | 25.54 | 82.15 | 12.78 | 18.93 | 18.80 | 64.81 |
| P/OCF Ratio | 19.60 | 33.45 | 10.30 | 14.16 | 14.14 | 26.36 |
| EV/Sales Ratio | 0.40 | 0.30 | 0.33 | 0.50 | 0.67 | 0.82 |
| EV/EBITDA Ratio | 16.02 | 10.77 | 11.60 | 10.86 | 13.54 | 19.85 |
| EV/EBIT Ratio | 17.19 | 11.71 | 12.77 | 11.64 | 14.55 | 21.55 |
| EV/FCF Ratio | 29.57 | 102.47 | 16.26 | 17.89 | 18.02 | 73.74 |
| Debt / Equity Ratio | 0.77 | 0.75 | 0.78 | 0.77 | 0.78 | 0.84 |
| Debt / EBITDA Ratio | 3.89 | 3.53 | 3.60 | 2.47 | 2.49 | 3.74 |
| Debt / FCF Ratio | 7.57 | 35.39 | 5.34 | 4.23 | 3.49 | 14.73 |
| Net Debt / Equity Ratio | 0.41 | 0.51 | 0.64 | 0.48 | 0.45 | 0.63 |
| Net Debt / EBITDA Ratio | 2.18 | 2.54 | 3.15 | 1.61 | 1.52 | 2.97 |
| Net Debt / FCF Ratio | 4.03 | 24.19 | 4.41 | 2.66 | 2.02 | 11.04 |
| Quick Ratio | 1.28 | 1.53 | 1.47 | 1.36 | 1.32 | 1.33 |
| Current Ratio | 1.74 | 2.00 | 1.76 | 1.59 | 1.52 | 1.62 |
| Asset Turnover | 2.71 | 2.72 | 2.52 | 2.36 | 2.12 | 2.09 |
| Return on Equity (ROE) | 6.89% | 7.04% | 7.41% | 15.68% | 17.81% | 19.67% |
| Return on Assets (ROA) | 3.90% | 4.30% | 4.07% | 6.34% | 6.11% | 4.96% |
| Return on Invested Capital (ROIC) | 8.13% | 9.02% | 7.81% | 12.15% | 11.78% | 10.63% |
| Earnings Yield | 2.60% | 3.86% | 3.95% | 4.42% | 4.33% | 4.92% |
| FCF Yield | 3.92% | 1.22% | 7.83% | 5.28% | 5.32% | 1.54% |
| Dividend Yield | 0.87% | 1.39% | 1.40% | 0.77% | 0.61% | 0.60% |
| Payout Ratio | 33.43% | 36.20% | 35.71% | 17.32% | 13.97% | 12.07% |
| Buyback Yield / Dilution | -0.08% | 0.04% | 2.87% | 2.09% | 1.78% | 2.72% |
| Total Shareholder Return | 0.78% | 1.42% | 4.27% | 2.85% | 2.39% | 3.32% |