HUMANA INC
Hospital & Medical Service Plans· NYSE: HUM
- Revenue
- $129.7B
- FY2025
- Revenue growth
- +10.9%
- a year over 5 years
- Gross margin
- –
- FY2025
- Operating margin
- 2.1%
- FY2025
- FCF margin
- 0.3%
- FY2025
- ROIC
- 37.9%
- 5-year average
- Net cash
- $7.5B
- FY2025
- Share count
- -1.9%
- a year: net buybacks
Performance
Revenue
$129.7B
+10.1% a year over 9 years
FY2016FY2025
Margins
Operating2.1%Net0.9%
FY2025
FY2016FY2025
Free cash flow and owner earnings
Free cash flow$375.0MOwner earnings$134.0M
Free cash flow -13.7% a year
FY2016FY2025
Diluted shares
120.8M
-19.9% over 9 years, net buybacks
FY2016FY2025
Return on invested capital
22.1%
FY2025
FY2016FY2025
Net cash
$7.5B
$7.5B more cash than debt
FY2016FY2025
Company statistics
Profile · FY2025
- Revenue
- $129.7B
- Operating income
- $2.7B
- Free cash flow
- $375.0M
- Owner earnings
- $134.0M
- Diluted shares
- 120.8M
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
Capital returned · FY2025
- Dividends paid
- $430.0M
- Payout ratio
- 36.2%
- Share repurchases
- $151.0M
- Returned / FCF
- 154.9%
- Share count, 5 yr
- -1.9%
Financials: ten years from the 10-Ks
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| The business | ||||||||||
| Revenue | $54.4B | $53.8B | $56.9B | $64.9B | $77.2B | $83.1B | $92.9B | $106.4B | $117.8B | $129.7B |
| Revenue growth | 0.2% | -1.1% | 5.8% | 14.0% | 18.9% | 7.7% | 11.8% | 14.5% | 10.7% | 10.1% |
| Gross margin | – | – | – | – | – | – | – | – | – | – |
| Operating margin | 3.2% | 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 margin | 1.1% | 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 shares | 150.9M | 145.6M | 138.4M | 134.7M | 133.0M | 129.4M | 127.1M | 124.4M | 120.9M | 120.8M |
| 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
| 2026-07-29 | 10-Q | Quarterly report |
| 2026-07-29 | 8-K | Earnings release |
| 2026-04-29 | 10-Q | Quarterly report |
| 2026-04-29 | 8-K | Earnings release |
| 2026-03-06 | DEF 14A | Proxy statement |
| 2026-02-19 | 10-K | Annual report |
| 2026-02-11 | 8-K | Earnings release |
| 2025-11-05 | 10-Q | Quarterly report |
| 2025-11-05 | 8-K | Earnings release |
| 2025-07-30 | 10-Q | Quarterly report |
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