HUM

MKT CAP:$26B

Humana Inc.

Market Cap

$26B

Healthcare·Medical - Healthcare Plans·🇺🇸 United States·NYSE

Healthcare·Medical·🇺🇸·NYSE

Stock Price

$214.95-$49.53 (-18.73%)

Apr 23, 2026

Company Details

Humana Inc., together with its subsidiaries, operates as a health and well-being company in the United States. It operates through three segments: Retail, Group and Specialty, and Healthcare Services. The company offers medical and suppleme...

CEO

James A. Rechtin

IPO Date

Dec 31, 1981

Website

www.humana.com

Key Metrics TTM

Revenue

$126.4B

+12.8% YoY

Net Income

$1.5B

EPS (Diluted)

$12.18

Free Cash Flow

$1.3B

Revenue / Share

$1,050.47

Gross Margin

14.6%

Operating Margin

1.6%

Net Margin

1.2%

FCF Margin

1.0%

P/S

0.2x

P/E

17.5x

Earnings Reports

Q1 2026

Apr 29, 2026

PENDING

FY 2025

Feb 19, 2026

$129.7BEPS $9.84

Q4 2025

Feb 19, 2026

$32.5BEPS -$6.61

Q2 2025

Jul 30, 2025

$32.4B+9.6%EPS $4.51

Q1 2025

Apr 30, 2025

$32.1B+8.4%EPS $10.30

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 21	$20.7B	$3.4B	$1.1B
Q2 21	$20.6B	$3.5B	$771M
Q3 21	$21.8B	$4.4B	$1.7B
Q1 22	$24.0B	$4.3B	$1.2B
Q2 22	$23.7B	$4.6B	$1.1B
Q3 22	$22.8B	$4.4B	$1.3B
Q1 23	$26.7B	$4.9B	$1.6B
Q2 23	$26.7B	$4.7B	$1.3B
Q3 23	$26.4B	$4.7B	$1.1B
Q4 23	$26.5B	$3.7B	-$615M
Q1 24	$29.6B	$4.5B	$990M
Q2 24	$29.5B	$4.5B	$901M
Q3 24	$29.4B	$4.3B	$635M
Q1 25	$32.1B	$5.6B	$1.6B
Q2 25	$32.4B	$4.8B	$722M
Q4 25	$32.5B	$3.8B	-$1.0B

Valuation

Quarter	P/S	P/E
Q1 21	0.3x	6.9x
Q2 21	0.3x	10.4x
Q3 21	0.3x	9.7x
Q1 22	0.3x	6.7x
Q2 22	0.3x	6.9x
Q3 22	0.3x	5.9x
Q1 23	0.3x	6.4x
Q2 23	0.3x	6.3x
Q3 23	0.3x	6.1x
Q4 23	0.2x	10.4x
Q1 24	0.2x	13.0x
Q2 24	0.2x	15.1x
Q3 24	0.2x	19.0x
Q1 25	0.2x	8.2x
Q2 25	0.2x	8.8x
Q4 25	0.2x	17.5x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 21	-$837M	-$1.1B
Q2 21	$360M	$31M
Q3 21	$2.8B	$2.5B
Q1 22	$302M	$7M
Q2 22	$959M	$680M
Q3 22	$8.5B	$8.2B
Q1 23	$6.7B	$6.5B
Q2 23	$3.2B	$2.9B
Q3 23	$1.3B	$1.0B
Q4 23	-$7.1B	-$7.4B
Q1 24	$423M	$246M
Q2 24	$1.2B	$1.1B
Q3 24	$1.9B	$1.7B
Q1 25	$331M	$236M
Q2 25	$1.3B	$1.2B
Q4 25	-$1.7B	-$1.9B

Capital Expenditures

Quarter	CapEx
Q1 21	$290M
Q2 21	$329M
Q3 21	$326M
Q1 22	$295M
Q2 22	$279M
Q3 22	$288M
Q1 23	$223M
Q2 23	$264M
Q3 23	$234M
Q4 23	$283M
Q1 24	$177M
Q2 24	$114M
Q3 24	$130M
Q1 25	$95M
Q2 25	$114M
Q4 25	$202M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 21	+9.2%	+7.7%
Q2 21	+8.2%	+20.7%
Q3 21	+8.4%	+10.0%
Q1 22	+25.7%	+16.6%
Q2 22	+14.5%	+14.9%
Q3 22	+10.4%	+8.2%
Q1 23	+22.9%	+25.1%
Q2 23	+11.6%	+12.0%
Q3 23	+11.7%	+12.4%
Q4 23	+16.1%	+25.9%
Q1 24	+10.7%	+13.8%
Q2 24	+10.4%	+12.3%
Q3 24	+11.3%	+13.5%
Q1 25	+21.4%	+12.5%
Q2 25	+9.4%	+10.6%
Q4 25	+10.1%	+17.1%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 21	$39M	0.2%
Q2 21	$45M	0.2%
Q3 21	$48M	0.2%
Q1 22	$43M	0.2%
Q2 22	$50M	0.2%
Q3 22	$80M	0.4%
Q1 23	$38M	0.1%
Q2 23	$51M	0.2%
Q3 23	$53M	0.2%
Q4 23	$33M	0.1%
Q1 24	$45M	0.2%
Q2 24	$55M	0.2%
Q3 24	$53M	0.2%
Q1 25	$49M	0.2%
Q2 25	$61M	0.2%
Q4 25	$48M	0.1%

Revenue Segments

Quarter

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$4.9B	$0	$4.9B
Q2 22	$5.2B	$0	$5.2B
Q3 22	$13.6B	$0	$13.6B
Q4 22	$5.1B	$0	$5.1B
Q1 23	$13.7B	$0	$13.7B
Q2 23	$16.2B	$0	$16.2B
Q3 23	$15.1B	$0	$15.1B
Q4 23	$4.7B	$0	$4.7B
Q1 24	$5.9B	$0	$5.9B
Q2 24	$5.5B	$0	$5.5B
Q3 24	$5.1B	$0	$5.1B
Q4 24	$2.2B	$0	$2.2B
Q1 25	$4.3B	$0	$4.3B
Q2 25	$4.0B	$0	$4.0B
Q3 25	$5.4B	$0	$5.4B
Q4 25	$4.2B	$0	$4.2B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 21	130M	-1.9%	-2.5%
Q2 21	129M	-0.1%	-2.7%
Q3 21	129M	-0.1%	-3.0%
Q1 22	127M	-1.4%	-3.5%
Q2 22	127M	-0.3%	-1.9%
Q3 22	127M	+0.2%	-1.6%
Q1 23	126M	-1.4%	-2.9%
Q2 23	125M	-0.4%	-1.9%
Q3 23	124M	-0.9%	-2.4%
Q4 23	122M	-1.2%	-3.8%
Q1 24	121M	-1.0%	-3.4%
Q2 24	121M	-0.5%	-3.6%
Q3 24	121M	+0.1%	-2.6%
Q1 25	121M	0.0%	-1.4%
Q2 25	121M	-0.0%	-0.4%
Q4 25	120M	-0.3%	-0.3%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 21	$424.4K	49K
Q2 21	$423.9K	49K
Q3 21	$446.7K	49K
Q1 22	$251.0K	96K
Q2 22	$247.8K	96K
Q3 22	$238.7K	96K
Q1 23	$398.5K	67K
Q2 23	$398.6K	67K
Q3 23	$393.8K	67K
Q4 23	$391.4K	68K
Q1 24	$438.0K	68K
Q2 24	$437.0K	68K
Q3 24	$434.9K	68K
Q1 25	$488.9K	66K
Q2 25	$493.1K	66K
Q4 25	$484.9K	67K

Revenue / Employee