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Humana Inc.

HUM Healthcare Healthcare Plans

Humana Inc.’s revenue for fiscal 2025 (year ended December 2025) was $129.7 billion, up 10.1% from fiscal 2024. In the quarter to June 2026, revenue grew 26.2%, EPS grew 27.9%, free cash flow grew 58.5% and total debt rose 13.2%, each against the same quarter a year earlier. Member of the S&P 500; dividend growth for ten consecutive years, revenue growth for five; insiders bought in the last twelve months.

413.16 19.04 −4.41%
Market cap
$51.9B
P/E
38.8×
Fwd P/E
42.9×
Dividend yield
0.86%
F-score
6/9
Altman Z
4.66
Beneish M
−2.29
Dividend safety
61/100
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios Filings 10-Q 10-K

Insider Decisions trades per month

Total buys 0.15
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — 1 — — — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 0.26%

Capital & Financial Ratios $m

Market Cap 51,900.00
Revenue 145,679.00
Net Income 1,295.00
Free Cash Flow 1,972.00
Net Debt (9,624.00)
Current Ratio 1.74 (at or above 1.5: strong)
Debt/Equity 0.74
P/E ratio 38.79 (above 35: high)
Fwd P/E 42.90 (above 35: high)
P/S ratio 0.34
P/B ratio 2.57
Past 5Y EPS Growth (17.22%) (below 0%: weak)
This Y EPS Growth (46.56%) (below 0%: weak)
Next Y EPS Growth 85.17% (at or above 15%: strong)
Next Y revenue growth (87.46%) (below 0%: weak)
Next 5Y EPS Growth 21.20% (at or above 15%: strong)

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 0.3×, against a ten-year median of 0.5×; over the ten years it ranged from 0.1× in 2026 to 0.7× in 2021.
P/E against its own 10 years 97.27%
10-year low 10-year high
P/S against its own 10 years 19.20%
10-year low 10-year high
P/B against its own 10 years 27.61%
10-year low 10-year high
EV/Sales against its own 10 years 20.13%
10-year low 10-year high
EV/FCF against its own 10 years 73.52%
10-year low 10-year high

Dividends

Payout Ratio 0.33
Annual Dividend Rate 3.54
Annual Dividend Yield 0.86%
total individual payouts
2028 Powerpack
2027 Powerpack
2026 0.37
0.89
0.89
0.89
2025 0.40
0.89
0.89
0.89
0.89
2024 3.54
0.89
0.89
0.89
0.89
2023 3.54
0.89
0.89
0.89
0.89
2022 3.15
0.79
0.79
0.79
0.79
2021 2.80
0.70
0.70
0.70
0.70
2020 2.50
0.63
0.63
0.63
0.63
2019 2.20
0.55
0.55
0.55
0.55
2018 2.00
0.50
0.50
0.50
0.50
2017 1.89
0.29
0.40
0.40
0.40
0.40
2016 0.87
0.29
0.29
0.29
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 21,320 20,435 19,903 23,871
Receivables 2,035 2,704 3,270 5,695
Inventory — — — —
Other 6,631 6,676 9,560 10,520
29,986 29,815 32,733 40,086
2023 2024 2025 Q'26
Payables 6,569 5,259 5,717 7,263
ST’ Debt 1,443 577 — 2,268
Other — — — —
18,872 16,939 16,346 23,007

Compound Annual Growth %

10y 5y 3y
Sales 9.10% 10.94% 11.77%
Cash Flow 0.59% (30.40%) (41.44%)
Earnings (0.71%) (18.81%) (24.91%)
Book Value 5.54% 5.26% 4.89%

Revenue $m

Mar Jun Sep Dec Year
’26 39,648 40,867 — — —
’25 32,112 32,388 32,649 32,515 129,664
’24 29,611 29,540 29,397 29,213 117,761
’23 26,742 26,747 26,423 26,462 106,374
’22 23,970 23,662 22,799 22,439 92,870
’21 20,668 20,645 20,697 21,054 83,064
’20 18,935 19,083 20,075 19,062 77,155
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 1,254 1,966 — — —
’25 331 1,271 971 (1,652) 921
’24 423 1,213 1,858 (528) 2,966
’23 6,687 3,176 1,252 (7,134) 3,981
’22 302 959 8,453 (5,127) 4,587
’21 (837) 360 2,835 (96) 2,262
’20 474 3,067 1,815 283 5,639
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 1,133 1,834 — — —
’25 236 1,157 836 (1,831) 398
’24 246 1,099 1,728 (675) 2,398
’23 6,464 2,912 1,018 (7,207) 3,187
’22 7 680 8,165 (5,385) 3,467
’21 (1,127) 31 2,509 (467) 946
’20 282 2,841 1,565 (13) 4,675
Fiscal quarters ending in the months shown.

EPS $

Mar Jun Sep Dec Year
’26 9.83 5.73 — — —
’25 10.30 4.51 1.62 (6.61) 9.84
’24 6.11 5.62 3.98 (5.76) 9.98
’23 9.87 7.66 6.71 (4.42) 20.00
’22 7.29 5.48 9.39 (0.12) 22.08
’21 6.39 4.55 11.84 (0.11) 22.67
’20 3.56 13.75 10.05 (2.07) 25.31
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

2.1
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low 150.00 186.25 248.01 225.65 208.25 370.22 351.20 423.29 213.31 206.87

Analyst estimates 2026–2028

Powerpack
High 217.80 264.56 355.88 372.92 474.70 475.44 571.30 541.21 475.00 315.35
People
People Employees 51,600 45,900 41,600 46,000 48,700 95,500 67,100 67,600 65,680 67,060
Revenue/emp, $m 1.05 1.17 1.37 1.41 1.58 0.87 1.38 1.57 1.79 1.93
Income, $m
Income, $m Revenue 54,379 53,767 56,912 64,888 77,155 83,064 92,870 106,374 117,761 129,664
Gross margin, % 17.23 19.10 19.38 17.00 20.12 16.69 18.50 16.90 14.52 14.54
EBT 1,552 4,020 2,063 3,456 4,600 3,354 3,568 3,383 1,721 1,555
EBT margin, % 2.85 7.48 3.62 5.33 5.96 4.04 3.84 3.18 1.46 1.20
Net income 614 2,448 1,683 2,707 3,367 2,934 2,802 2,484 1,214 1,203
Depreciation 465 485 534 575 616 713 845 917 968 824
Per share, $
Per share, $ Revenue 364.04 372.11 413.95 484.04 583.63 645.47 734.62 858.78 976.69 1,076.46
Earnings 4.11 16.94 12.24 20.20 25.47 22.79 22.20 20.09 10.01 9.87
Cash flow 12.96 28.04 15.81 39.42 42.66 17.58 36.28 32.14 24.60 7.65
Capex (3.53) (3.63) (4.45) (5.49) (7.29) (10.23) (8.86) (6.41) (4.71) (4.34)
Free cash flow 9.43 24.41 11.35 33.93 35.36 7.35 27.42 25.73 19.89 3.30
Book value 71.53 68.11 73.91 89.79 103.84 125.13 121.58 131.74 136.39 147.25
Shares, m 149 144 137 134 132 129 126 124 121 120
Valuation, ×
Valuation, × P/E 49.65 14.99 23.41 18.16 16.11 20.35 22.60 23.59 25.40 26.03
P/S 0.54 0.68 0.69 0.76 0.70 0.72 0.68 0.55 0.26 0.24
P/B 2.76 3.69 3.88 4.08 3.95 3.71 4.12 3.57 1.86 1.74
EV/Sales 0.41 0.51 0.58 0.61 0.57 0.67 0.60 0.46 0.19 0.18
EV/FCF 15.71 7.85 21.20 8.75 9.34 58.78 16.00 15.24 9.12 60.04
Cash, $m
Cash, $m Operating cash flow 1,936 4,051 2,173 5,284 5,639 2,262 4,587 3,981 2,966 921
Capex (527) (524) (612) (736) (964) (1,316) (1,120) (794) (568) (523)
Free cash flow 1,409 3,527 1,561 4,548 4,675 946 3,467 3,187 2,398 398
Balance, $m
Balance, $m Working capital 8,368 7,996 6,871 8,959 10,247 9,562 9,005 11,114 12,876 16,387
Total debt 4,092 4,920 6,069 5,666 6,660 12,494 11,126 11,656 11,721 12,369
Net debt (7,380) (8,679) (6,300) (9,360) (10,567) (4,092) (7,816) (9,664) (8,714) (7,534)
Shareholders’ equity 10,685 9,842 10,161 12,037 13,728 16,103 15,370 16,318 16,445 17,737
Returns, %
Returns, % ROA 2.45 9.31 6.40 9.94 10.51 7.39 6.42 5.52 2.58 2.49
ROIC 32.92 229.04 50.18 74.52 98.58 16.38 31.44 37.69 20.71 16.56
ROE 5.84 23.85 16.83 24.39 26.14 19.66 17.83 15.71 7.37 6.95
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Humana Inc. vs peers in Healthcare Plans (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
UNH UnitedHealth Group Incorporated $365.0B 25.8× 23.3× −0.41% (below 0%: shrinking) +61.50% (above 0%: growing) −15.65% (below 0%: shrinking) 100.00% 5.82% Compare
CVS CVS Health Corporation $118.4B 24.1× 15.4× +7.26% (above 0%: growing) +187.65% (above 0%: growing) +338.29% (above 0%: growing) 44.52% 4.43% Compare
ELV Elevance Health, Inc. $92.9B 19.0× 20.3× +1.40% (above 0%: growing) −13.08% (below 0%: shrinking) −9.01% (below 0%: shrinking) 15.77% 4.56% Compare
CI Cigna Group $79.0B 12.5× 11.4× +6.68% (above 0%: growing) +10.16% (above 0%: growing) +66.93% (above 0%: growing) 88.24% 3.73% Compare
HUM Humana Inc. $51.9B 38.8× 42.9× +26.18% (above 0%: growing) +27.88% (above 0%: growing) +58.51% (above 0%: growing) 13.45% 3.33%
CNC Centene Corporation $34.8B — (loss-making) 24.8× +9.92% (above 0%: growing) n/m +116.61% (above 0%: growing) 8.59% 2.24% Compare
MOH Molina Healthcare, Inc $11.1B — (loss-making) 55.0× −4.84% (below 0%: shrinking) −74.95% (below 0%: shrinking) +5.81% (above 0%: growing) 13.19% 1.33% Compare
OSCR Oscar Health, Inc. $10.3B 18.6× 29.7× +70.40% (above 0%: growing) n/m +316.29% (above 0%: growing) 22.25% 7.96% Compare
CLOV Clover Health Investments, Corp. $2.5B — (loss-making) 292× +55.60% (above 0%: growing) n/m +406.43% (above 0%: growing) 20.59% 3.77% Compare
Median of peers $56.9B 19.0× 24.1× +6.97% +10.16% +91.77% 21.42% 4.10%

All 12 Healthcare Plans stocks →

HUM metrics, ten years each

Humana Inc. (HUM) key facts

  • Concern: Net income was $1.2 billion, or $9.87 per share (basic), a net margin of 0.92%.
  • Strength: Humana Inc.’s revenue for fiscal 2025 (year ended December 2025) was $129.7 billion, up 10.1% from fiscal 2024.
  • Humana Inc. (HUM) is a Healthcare Plans company in the Healthcare sector, listed on the New York Stock Exchange.
  • As of October 16, 2026, HUM traded at $413.16, a market capitalization of $51.9 billion.
  • At that price the stock trades at 38.8× trailing-twelve-month earnings and 0.3× sales; its P/E is higher than 97% of its own readings over the past ten years.
  • Humana Inc. pays an annual dividend of $3.54 per share, a yield of 0.86%, with a payout ratio of 33.5%.
  • Return on equity was 6.95% and debt-to-equity 0.74.
  • Its Piotroski F-score is 6 out of 9 and its Altman Z-score is 4.66 (safe zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

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stockrow.com/HUM · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com