Balance Sheet Humana Inc.

Stocks

HUM

US4448591028

Managed Healthcare

Market Closed - NYSE Other stock markets 21:00:02 12/06/2026 BST			5-day change	1st Jan Change
379.22 ^USD	+2.86%		+8.32%	+48.06%

06-11	Evercore ISI Raises Price Target on Humana to $370 From $250, Maintains In Line Rating	MT
06-11	Analyst recommendations: Chewy, CME Group, Ford Motor, Fortinet, Humana…

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Published financial data: HUMANA INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021	2022	2023	2024	2025
Premiums and Annuity Revenues	79.82B	87.71B	101B	112B	123B
Total Interest And Dividend Income	317M	587M	1.12B	1.2B	1.06B
Gain (Loss) on Sale of Investments, Total (Rev)	999M	-205M	-54M	24M	-50M
Other Revenues, Total	3.06B	4.78B	4.03B	4.43B	5.83B
Total Revenues	84.19B	92.87B	106B	118B	130B
Policy Benefits	69.2B	75.69B	88.39B	101B	111B
Depreciation & Amortization - (IS) - (Collected)	596M	709M	779M	839M	698M
Selling General & Admin Expenses, Total	10.12B	12.2B	12.63B	13.22B	14.87B
Total Operating Expenses	79.92B	88.6B	102B	115B	126B
Operating Income	4.28B	4.27B	4.57B	3.04B	3.28B
Interest Expense, Total	-326M	-401M	-493M	-660M	-631M
Income (Loss) on Equity Invest.	65M	-4M	-63M	-94M	-102M
Other Non Operating Income (Expenses)	-597M	-68M	-137M	-181M	-451M
EBT, Excl. Unusual Items	3.42B	3.8B	3.88B	2.11B	2.1B
Restructuring Charges	-	-473M	-506M	-281M	-449M
Total Merger & Related Restructuring Charges	-	-	-	-	-
Gain (Loss) on Sale of Assets	-	237M	-	-	-67M
Asset Writedown	-	-	-55M	-200M	-128M
EBT, Incl. Unusual Items	3.42B	3.56B	3.32B	1.63B	1.45B
Income Tax Expense	485M	762M	836M	413M	250M
Earnings From Continuing Operations	2.93B	2.8B	2.48B	1.21B	1.2B
Net Income to Company	2.93B	2.8B	2.48B	1.21B	1.2B
Minority Interest	-1M	4M	5M	-7M	-15M
Net Income - (IS)	2.93B	2.81B	2.49B	1.21B	1.19B
Net Income to Common Incl Extra Items	2.93B	2.81B	2.49B	1.21B	1.19B
Net Income to Common Excl. Extra Items	2.93B	2.81B	2.49B	1.21B	1.19B
Per Share Items
Net EPS - Basic	22.79	22.2	20.09	10.01	9.86
Basic EPS - Continuing Operations	22.79	22.2	20.09	10.01	9.86
Basic Weighted Average Shares Outstanding	129M	126M	124M	121M	120M
Net EPS - Diluted	22.67	22.08	20	9.98	9.84
Diluted EPS - Continuing Operations	22.67	22.08	20	9.98	9.84
Diluted Weighted Average Shares Outstanding	129M	127M	124M	121M	121M
Normalized Basic EPS	16.6	18.82	19.62	10.87	10.76
Normalized Diluted EPS	16.51	18.72	19.53	10.84	10.72
Dividend Per Share	2.8	3.15	3.54	3.54	3.54
Payout Ratio	12.07	13.97	17.32	35.71	36.2
American Depositary Receipts Ratio (ADR)	0.02	0.02	0.02	0.02	0.02
Supplemental Items
EBITDA	4.55B	4.59B	4.9B	3.35B	3.57B
EBITA	4.35B	4.37B	4.64B	3.1B	3.33B
EBIT	4.28B	4.27B	4.57B	3.04B	3.28B
EBITDAR	4.76B	4.82B	5.1B	3.55B	3.76B
Total Revenues (As Reported)	83.06B	92.87B	106B	118B	130B
Effective Tax Rate - (Ratio)	14.19	21.38	25.18	25.38	17.21
Current Domestic Taxes	470M	862M	1B	605M	175M
Total Current Taxes	470M	862M	1B	605M	175M
Deferred Domestic Taxes	-	-	-	-	75M
Total Deferred Taxes	15M	-100M	-164M	-192M	75M
Normalized Net Income	2.14B	2.38B	2.43B	1.31B	1.3B
Interest on Long-Term Debt	-	-	-	-	-
Supplemental Operating Expense Items
Net Rental Expense, Total	210M	232M	199M	198M	195M
Imputed Operating Lease Interest Expense	52.12M	58.18M	63.72M	82.81M	75.59M
Imputed Operating Lease Depreciation	158M	174M	135M	115M	119M
Stock-Based Comp., Other (Total)	180M	216M	175M	207M	241M
Total Stock-Based Compensation	180M	216M	175M	207M	241M

Fiscal Period: December	2021	2022	2023	2024	2025
Assets
Investment In Debt Securities	-	-	-	-	-
Investment In Equity and Preferred Securities, Total	141M	749M	740M	697M	638M
Total Other Investments	13.97B	14.26B	17.01B	18.64B	16.25B
Total investments	14.11B	15.01B	17.75B	19.33B	16.89B
Cash And Equivalents	3.39B	5.06B	4.69B	2.22B	4.2B
Reinsurance Recoverable - (IS)	1.89B	696M	514M	1.2B	-
Other Receivables - (Insurance Template)	3.81B	3.67B	4.34B	4.4B	5.17B
Deferred Policy Acquisition Costs - (BS)	-	-	-	-	-
Gross Property Plant And Equipment	6.62B	6.87B	6.39B	6.12B	6B
Accumulated Depreciation	-2.87B	-3.14B	-2.85B	-3.14B	-3.29B
Net Property Plant And Equipment	3.75B	3.74B	3.54B	2.98B	2.72B
Goodwill	11.09B	9.14B	9.55B	9.63B	9.69B
Other Intangibles, Total	2.64B	1.76B	1.69B	1.44B	1.13B
Other Current Assets, Total	2.6B	2.87B	3.82B	3.77B	7.66B
Deferred Tax Assets Long-Term (Collected)	-	-	-	-	84M
Other Long-Term Assets, Total	1.06B	1.1B	1.17B	1.5B	1.37B
Total Assets	44.36B	43.06B	47.06B	46.48B	48.91B
Liabilities
Accounts Payable, Total	3.79B	3.68B	4.36B	4.37B	5.59B
Insurance And Annuity Liabilities	728M	1.48B	2.13B	795M	-
Unpaid Claims	8.29B	9.26B	10.24B	10.44B	9.97B
Unearned Premiums	254M	286M	266M	260M	356M
Current Portion of Long-Term Debt	998M	1.5B	572M	577M	-
Current Portion of Leases	185M	152M	149M	130M	126M
Short-Term Borrowings	1.28B	893M	1.22B	403M	306M
Long-Term Debt	10.54B	9.03B	10.21B	11.14B	12.42B
Long-Term Leases	546M	456M	444M	392M	418M
Deferred Tax Liability Non-Current	698M	27M	48M	260M	-
Other Non Current Liabilities	945M	912M	1.09B	1.26B	1.99B
Total Liabilities	28.26B	27.68B	30.75B	30.03B	31.17B
Common Stock, Total	33M	33M	33M	33M	33M
Additional Paid In Capital	3.08B	3.25B	3.35B	3.46B	3.6B
Retained Earnings	23.09B	25.49B	27.54B	28.32B	29.08B
Treasury Stock	-10.16B	-12.16B	-13.66B	-14.37B	-14.42B
Comprehensive Income and Other	42M	-1.3B	-999M	-1.07B	-633M
Total Common Equity	16.08B	15.31B	16.26B	16.38B	17.66B
Minority Interest	23M	59M	56M	70M	80M
Total Equity	16.1B	15.37B	16.32B	16.44B	17.74B
Total Liabilities And Equity	44.36B	43.06B	47.06B	46.48B	48.91B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	127M	125M	121M	121M	121M
ECS Total Common Shares Outstanding	129M	125M	122M	121M	121M
Book Value / Share	124.84	122.51	133.05	135.73	146.42
Tangible Book Value	2.35B	4.4B	5.02B	5.3B	6.84B
Tangible Book Value Per Share	18.24	35.24	41.06	43.94	56.75
Total Debt	13.55B	12.03B	12.6B	12.65B	13.27B
Net Debt	10.16B	6.97B	7.91B	10.42B	9.07B
Debt Equivalent Oper. Leases	1.68B	1.86B	1.59B	1.58B	1.56B
Minority Interest, Total (Incl. Fin. Div)	23M	59M	56M	70M	80M
Equity Method Investments, Total	141M	749M	740M	697M	638M
Account Code - Inventory Valuation	3	3	3	3	3
Land - (BS)	17M	17M	16M	17M	15M
Buildings, Total	1.13B	1.14B	1B	1.04B	1.06B
Machinery, Total	1.15B	1.25B	1.32B	1.4B	1.45B
Full Time Employees	95.5K	67.1K	67.6K	65.68K	67.06K

Fiscal Period: December	2021	2022	2023	2024	2025
Net Income	2.93B	2.81B	2.49B	1.21B	1.19B
Depreciation, Depletion & Amortization	197M	224M	261M	248M	237M
Amortization of Goodwill and Intangible Assets - (CF)	73M	96M	67M	60M	51M
Total Depreciation, Depletion & Amortization	270M	320M	328M	308M	288M
Amortization of Deferred Charges, Total	443M	525M	589M	660M	536M
(Gain) Loss On Sale of Asset - (CF)	-	-237M	-	-	67M
(Gain) Loss on Sale of Investments - (CF)	130M	205M	54M	-24M	50M
Total Asset Writedown	-	248M	206M	437M	156M
(Income) Loss On Equity Investments - (CF)	-1.19B	4M	63M	94M	102M
Stock-Based Compensation (CF)	180M	216M	230M	207M	241M
Provision and Write-off of Bad Debts	-	-	-	-	-
Change in Accounts Receivable	-280M	-54M	-337M	-669M	-570M
Change in Unearned Revenues	-65M	32M	-20M	-6M	96M
Change in insurance Reserves / Liabilities	104M	975M	915M	199M	-472M
Change in Other Net Operating Assets (Collected)	-315M	-419M	-477M	630M	-851M
Other Operating Activities	56M	-34M	-59M	-77M	90M
Cash from Operations	2.26B	4.59B	3.98B	2.97B	921M
Capital Expenditure	-1.32B	-1.12B	-1B	-575M	-546M
Sale of Property, Plant, and Equipment	-	-	210M	7M	23M
Cash Acquisitions	-4.19B	-337M	-233M	-89M	-81M
Divestitures	-	2.7B	-	-	115M
Investment in Marketable and Equity Securities, Total	-1.05B	-2.25B	-2.46B	-2.24B	2.76B
Other Investing Activities, Total	-	-	-	-50M	-
Cash from Investing	-6.56B	-1.01B	-3.49B	-2.95B	2.27B
Short Term Debt Issued, Total	358M	-	366M	468M	220M
Long-Term Debt Issued, Total	5.48B	1.98B	2.54B	2.23B	1.48B
Total Debt Issued	5.84B	1.98B	2.91B	2.7B	1.7B
Short Term Debt Repaid, Total	-	-404M	-100M	-907M	-102M
Long-Term Debt Repaid, Total	-2.08B	-3B	-2.33B	-1.11B	-948M
Total Debt Repaid	-2.08B	-3.4B	-2.43B	-2.01B	-1.05B
Issuance of Common Stock	21M	-	-	-	-
Repurchase of Common Stock	-79M	-2.1B	-1.57B	-817M	-151M
Common Dividends Paid	-354M	-392M	-431M	-431M	-430M
Common & Preferred Stock Dividends Paid	-354M	-392M	-431M	-431M	-430M
Annuity Receipts	-	-	828M	-	-
Annuity Payments	-306M	1.99B	-	-1.93B	-1.08B
Other Financing Activities, Total	-31M	3M	-158M	8M	-209M
Cash from Financing	3.02B	-1.91B	-856M	-2.49B	-1.22B
Net Change in Cash	-1.28B	1.67B	-367M	-2.47B	1.98B
Supplemental Items
Cash Interest Paid	285M	354M	394M	584M	628M
Cash Income Tax Paid (Refund)	227M	758M	997M	570M	272M
Net Debt Issued / Repaid	3.76B	-1.42B	478M	686M	651M
Levered Free Cash Flow	37.38M	4.51B	760M	-1.31B	1.32B
Unlevered Free Cash Flow	241M	4.76B	1.07B	-898M	1.72B
Change In Net Working Capital	2.01B	-2.15B	1.88B	3.4B	854M

Fiscal Period: December	2021	2022	2023	2024	2025
Profitability
Return on Assets	6.74	6.11	6.34	4.07	4.3
Return on Total Capital	10.51	9.36	10.15	6.56	6.81
Return On Equity %	19.67	17.81	15.68	7.41	7.04
Return on Common Equity	19.68	17.88	15.77	7.4	6.98
Margin Analysis
Gross Profit Margin %	17.81	18.5	16.9	14.52	14.54
SG&A Margin	12.02	13.13	11.87	11.22	11.47
EBITDA Margin %	5.4	4.95	4.61	2.85	2.75
EBITA Margin %	5.17	4.7	4.36	2.63	2.57
EBIT Margin %	5.08	4.6	4.3	2.58	2.53
Income From Continuing Operations Margin %	3.48	3.02	2.34	1.03	0.93
Net Income Margin %	3.48	3.02	2.34	1.02	0.92
Net Avail. For Common Margin %	3.48	3.02	2.34	1.02	0.92
Normalized Net Income Margin	2.54	2.56	2.28	1.11	1
Levered Free Cash Flow Margin	0.04	4.85	0.71	-1.11	1.02
Unlevered Free Cash Flow Margin	0.29	5.12	1	-0.76	1.32
Asset Turnover
Asset Turnover	2.12	2.12	2.36	2.52	2.72
Fixed Assets Turnover	25.67	24.81	29.24	36.14	45.55
Receivables Turnover (Average Receivables)	54.29	50.63	55.21	47.82	41.47
Short Term Liquidity
Current Ratio	1.62	1.52	1.59	1.76	2
Quick Ratio	1.33	1.32	1.36	1.47	1.53
Operating Cash Flow to Current Liabilities	0.15	0.27	0.21	0.18	0.06
Days Sales Outstanding (Average Receivables)	6.72	7.21	6.61	7.65	8.8
Average Days Payable Outstanding	64.98	65.01	64.03	58.59	51.26
Long Term Solvency
Total Debt/Equity	84.15	78.28	77.23	76.9	74.82
Total Debt / Total Capital	45.7	43.91	43.58	43.47	42.8
LT Debt/Equity	68.85	61.74	65.31	70.15	72.38
Long-Term Debt / Total Capital	37.39	34.63	36.85	39.65	41.4
Total Liabilities / Total Assets	63.7	64.3	65.33	64.62	63.73
EBIT / Interest Expense	13.12	10.66	9.28	4.61	5.2
EBITDA / Interest Expense	14.59	12.03	10.35	5.38	5.97
(EBITDA - Capex) / Interest Expense	10.56	9.24	8.31	4.51	5.1
Total Debt / EBITDA	2.85	2.49	2.47	3.56	3.53
Net Debt / EBITDA	2.14	1.44	1.55	2.94	2.41
Total Debt / (EBITDA - Capex)	3.94	3.25	3.08	4.25	4.12
Net Debt / (EBITDA - Capex)	2.95	1.88	1.93	3.51	2.82
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	9.12	10.31	14.54	10.7	10.11
Gross Profit, 1 Yr. Growth %	-3.43	14.58	4.66	-4.91	10.26
EBITDA, 1 Yr. Growth %	-13.41	1.01	6.73	-32.14	6.51
EBITA, 1 Yr. Growth %	-14.27	0.44	6.23	-33.65	7.38
EBIT, 1 Yr. Growth %	-14.22	-0.09	7.04	-33.99	7.82
Earnings From Cont. Operations, 1 Yr. Growth %	-12.86	-4.5	-11.35	-51.13	-0.91
Net Income, 1 Yr. Growth %	-12.89	-4.33	-11.3	-51.51	-1.57
Normalized Net Income, 1 Yr. Growth %	-26.88	11.38	2.17	-46.58	-1.14
Diluted EPS Before Extra, 1 Yr. Growth %	-10.43	-2.6	-9.42	-50.1	-1.4
Net Property, Plant and Equip., 1 Yr. Growth %	33.58	-0.4	-5.25	-15.9	-8.77
Accounts Receivable, 1 Yr. Growth %	59.4	-7.72	21.57	32.87	20.93
Total Assets, 1 Yr. Growth %	26.85	-2.94	9.31	-1.25	5.23
Common Equity, 1 Yr. Growth %	17.13	-4.78	6.21	0.69	7.83
Tangible Book Value, 1 Yr. Growth %	-73.76	87.48	13.96	5.62	29.09
Cash From Operations, 1 Yr. Growth %	-59.89	102.79	-13.21	-25.5	-68.95
Capital Expenditures, 1 Yr. Growth %	36.51	-14.89	-11.7	-42.73	-5.04
Levered Free Cash Flow, 1 Yr. Growth %	-98.22	11.96K	-83.08	-267.57	-200.81
Unlevered Free Cash Flow, 1 Yr. Growth %	-89.38	1.87K	-77.48	-182.38	-291.02
Dividend Per Share, 1 Yr. Growth %	12	12.5	12.38	0	0
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	13.91	9.71	13.16	12.61	10.41
Gross Profit, 2 Yr. CAGR %	16.59	5.19	13.88	-0.24	2.4
EBITDA, 2 Yr. CAGR %	15.24	-6.48	19.76	-14.58	-14.67
EBITA, 2 Yr. CAGR %	15.48	-7.21	20.04	-15.72	-15.27
EBIT, 2 Yr. CAGR %	15.75	-7.43	20.54	-15.61	-15.31
Earnings From Cont. Operations, 2 Yr. CAGR %	4.11	-8.78	-7.99	-34.18	-30.41
Net Income, 2 Yr. CAGR %	4.09	-8.71	-7.88	-34.41	-30.91
Normalized Net Income, 2 Yr. CAGR %	-0.76	-9.76	6.68	-25.78	-26.99
Diluted EPS Before Extra, 2 Yr. CAGR %	6.2	-6.6	-6.07	-32.77	-29.86
Net Property, Plant and Equip., 2 Yr. CAGR %	25.94	15.35	-2.85	-10.73	-12.41
Accounts Receivable, 2 Yr. CAGR %	31.06	21.28	5.92	27.09	26.76
Total Assets, 2 Yr. CAGR %	23.52	10.96	3.01	3.9	1.94
Common Equity, 2 Yr. CAGR %	15.58	5.61	0.56	3.42	4.2
Tangible Book Value, 2 Yr. CAGR %	-45.58	-29.86	46.17	9.71	16.77
Cash From Operations, 2 Yr. CAGR %	-34.57	-9.81	32.66	-19.59	-51.9
Capital Expenditures, 2 Yr. CAGR %	33.72	7.79	-13.51	-28.89	-26.26
Levered Free Cash Flow, 2 Yr. CAGR %	-87.24	46.7	4.6	-45.97	31.88
Unlevered Free Cash Flow, 2 Yr. CAGR %	-68.6	44.73	47.54	-56.47	26.76
Dividend Per Share, 2 Yr. CAGR %	12.82	12.25	12.44	6.01	0
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	13.94	12.69	11.3	12.34	11.77
Gross Profit, 3 Yr. CAGR %	10.78	15.91	5.01	7.23	3.14
EBITDA, 3 Yr. CAGR %	10.87	10.29	-2.27	-0.66	-8.06
EBITA, 3 Yr. CAGR %	10.89	10.23	-2.93	-1.24	-8.64
EBIT, 3 Yr. CAGR %	11.18	10.21	-2.83	-1.12	-8.43
Earnings From Cont. Operations, 3 Yr. CAGR %	20.35	1.16	-9.64	-25.48	-24.56
Net Income, 3 Yr. CAGR %	20.34	1.2	-9.58	-25.62	-24.91
Normalized Net Income, 3 Yr. CAGR %	5.97	3.13	-5.94	-15.03	-18.34
Diluted EPS Before Extra, 3 Yr. CAGR %	23.08	3.18	-7.55	-23.93	-23.62
Net Property, Plant and Equip., 3 Yr. CAGR %	29.31	16.46	8.03	-7.41	-10.08
Accounts Receivable, 3 Yr. CAGR %	21.35	16.6	21.38	14.23	25.01
Total Assets, 3 Yr. CAGR %	20.4	13.98	10.41	1.57	4.34
Common Equity, 3 Yr. CAGR %	16.53	8.35	5.81	0.61	4.87
Tangible Book Value, 3 Yr. CAGR %	-26.92	-17.81	-17.54	31.17	15.82
Cash From Operations, 3 Yr. CAGR %	1.35	-4.61	-10.96	9.45	-41.44
Capital Expenditures, 3 Yr. CAGR %	29.07	15.02	1.36	-24.61	-21.69
Levered Free Cash Flow, 3 Yr. CAGR %	-49.62	25.25	-28.68	23.59	-33.49
Unlevered Free Cash Flow, 3 Yr. CAGR %	15.62	24.84	-22.24	22.34	-28.74
Dividend Per Share, 3 Yr. CAGR %	11.87	12.71	12.29	8.13	3.97
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	9.14	11.55	13.33	12.66	10.94
Gross Profit, 5 Yr. CAGR %	9.85	10.84	10.27	9.16	3.96
EBITDA, 5 Yr. CAGR %	17.21	4.58	8	-0.43	-7.43
EBITA, 5 Yr. CAGR %	17.75	4.24	7.79	-0.99	-8.07
EBIT, 5 Yr. CAGR %	18.31	4.23	8.01	-0.95	-8.03
Earnings From Cont. Operations, 5 Yr. CAGR %	36.73	2.74	8.1	-14.82	-18.6
Net Income, 5 Yr. CAGR %	36.72	2.77	8.14	-14.92	-18.81
Normalized Net Income, 5 Yr. CAGR %	15.59	3.33	6.25	-9.58	-15.01
Diluted EPS Before Extra, 5 Yr. CAGR %	40.98	5.61	10.46	-13.07	-17.22
Net Property, Plant and Equip., 5 Yr. CAGR %	20.04	18.72	15.33	4.71	-0.66
Accounts Receivable, 5 Yr. CAGR %	7.22	14.41	14.93	20.69	23.5
Total Assets, 5 Yr. CAGR %	11.8	9.64	13.12	9.84	6.94
Common Equity, 5 Yr. CAGR %	8.52	9.24	9.86	6.35	5.16
Tangible Book Value, 5 Yr. CAGR %	-19.92	-7.01	-3.57	-7.74	-5.23
Cash From Operations, 5 Yr. CAGR %	3.16	2.52	12.87	-10.91	-30.4
Capital Expenditures, 5 Yr. CAGR %	20.09	16.41	10.41	-4.82	-10.75
Levered Free Cash Flow, 5 Yr. CAGR %	-53.25	9.25	21.05	-10.59	-8.8
Unlevered Free Cash Flow, 5 Yr. CAGR %	-33.04	9.32	46.92	-18.15	-5.46
Dividend Per Share, 5 Yr. CAGR %	19.27	14.51	12.1	9.98	7.2