Fundamentals · 2026-09-09S&P 500ANNUAL BASIS

Humana

HUM stock analysis · Health Care · Managed Health Care

FY 2025-12-31ANNUAL FILINGS
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These are research estimates based on annual filings. Valuation uses a cash-flow proxy and explicit assumptions; prices are not live. Published valuations use annual periods first filed by the price date, with later restatements retained.
Reference share price · USD
$397.22HISTORICAL SNAPSHOT

As of · fund-implied per-share value

Fund holding value ÷ shares held. Not a live quote; not adjusted for later stock splits.

View SEC fund filing ↗
Estimated issuer market cap
$47.7B

Price × SEC outstanding shares. Shares measured 2026-03-31. Approximate; share and price dates can differ.

View share-count filing ↗
Reviewed debt balance

Reviewed consolidated balance-sheet debt: current debt 0 plus noncurrent debt 12369000000, in USD. Includes current borrowings/current maturities already reported in the current debt line; current borrowings are included once in the capital calculation. Uses debt carrying amounts as presented, including financing leases only where included by the issuer; excludes operating leases and trade/insurance liabilities. This is a book-capital proxy, not fair value or a claim that every other liability is financing debt. Applies only to this reviewed fiscal period. Read the financial statement ↗

Valuation

DCF value

$47.44

Equity cash-flow scenario · SEC outstanding shares at 2026-03-31 · -88.1% versus input cap

How this is calculated ↗
Valuation

Reverse DCF

66.0%

Annual basis · read assumptions below

How this is calculated ↗
Valuation

Relative valuation

-36.2%

52 sector peers · median 25.6×

How this is calculated ↗
Valuation

Historical multiples

20.1×

7 annual observations · snapshot P/E 40.1× · 99.9% versus history

How this is calculated ↗
Valuation

Free cash flow yield

0.8%

Annual basis · read assumptions below

How this is calculated ↗
Quality

ROIC / quality

8.2%

Normalized tax · financing-capital proxy

How this is calculated ↗
Valuation

Value composite

30/100

Annual basis · read assumptions below

How this is calculated ↗
Momentum

12–1 price momentum

Split and corporate-action verification is incomplete for these fund observations. Verified adjusted endpoints are required for 12–1 momentum.

Split and corporate-action verification is incomplete for these fund observations. Verified adjusted endpoints are required for 12–1 momentum.

How this is calculated ↗
Investment

Asset growth

5.2%

Annual basis · read assumptions below

How this is calculated ↗
Investment

Net payout yield

Requires reported dividends, repurchases and issuance; missing values are not zero.

Requires reported dividends, repurchases and issuance; missing values are not zero.

How this is calculated ↗
Quality

Accrual quality

0.6%

Annual basis · read assumptions below

How this is calculated ↗
Momentum

Fundamental momentum

-10.3%

Annual basis · read assumptions below

How this is calculated ↗

Follow the cash

ANNUAL · USD

Operating cash flow and reinvestment over time

USD · bar maximum 5.6B2020-12-31: cfo $5,639,000,000.002020-12-31: capex $964,000,000.0020202021-12-31: cfo $2,262,000,000.002021-12-31: capex $1,342,000,000.0020212022-12-31: cfo $4,587,000,000.002022-12-31: capex $1,137,000,000.0020222023-12-31: cfo $3,981,000,000.002023-12-31: capex $1,004,000,000.0020232024-12-31: cfo $2,966,000,000.002024-12-31: capex $575,000,000.0020242025-12-31: cfo $921,000,000.002025-12-31: capex $546,000,000.002025
Operating cash flowCapital expenditure

Annual USD. Negative bars use a compressed lower scale. Hover or inspect the financial history table for exact values.

Make the assumptions yours

Personal inputs stay in this browser. Blank fields retain published inputs. Five-year forecast; zero net borrowing. Required return must exceed terminal growth.

How sensitive is the valuation?

DCF per-share sensitivity · includes reviewed preferred and minority-owner claims · rows: required return · columns: growth
Return / Growth3.0%5.0%7.0%
8.0%$59.50$64.92$70.75
10.0%$43.60$47.44$51.56
12.0%$34.40$37.33$40.47

Annual financial history

Open SEC filings ↗
Fiscal year-endRevenueNet incomeOperating cash flowCapital expenditureAssets
2025-12-315.8B1.2B921M546M48.9B
2024-12-314.4B1.2B3B575M46.5B
2023-12-314B2.5B4B1B47.1B
2022-12-314.8B2.8B4.6B1.1B43.1B
2021-12-313.1B2.9B2.3B1.3B44.4B
2020-12-311.8B3.4B5.6B964M35B
2019-12-311.4B2.7B5.3B736M29.1B
2018-12-311.5B1.7B2.2B612M25.4B

USD, abbreviated. Restated annual history; not a point-in-time backtest. Missing values appear as dashes.

Trace the inputs

MODEL ANNUAL PERIOD
InputValueSEC tag / sourceFiled
revenue5.8BRevenueFromContractWithCustomerIncludingAssessedTax2026-02-19
netIncome1.2BProfitLoss
Explicit consolidated amount, including the portion attributable to noncontrolling interests.
2026-02-19
Parent/common earnings proxy1.2BNetIncomeLoss2026-02-19
cfo921MNetCashProvidedByUsedInOperatingActivities2026-02-19
capex546MPaymentsToAcquirePropertyPlantAndEquipment2026-02-19
operatingIncome2.7BOperatingIncomeLoss2026-02-19
assets48.9BAssets2026-02-19
equity17.7BStockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
Explicit consolidated amount, including the portion attributable to noncontrolling interests.
2026-02-19
Parent book equity proxy17.7BStockholdersEquity2026-02-19
debt12.4BReviewed manual correction
Reviewed consolidated balance-sheet debt: current debt 0 plus noncurrent debt 12369000000, in USD. Includes current borrowings/current maturities already reported in the current debt line; current borrowings are included once in the capital calculation. Uses debt carrying amounts as presented, including financing leases only where included by the issuer; excludes operating leases and trade/insurance liabilities. This is a book-capital proxy, not fair value or a claim that every other liability is financing debt. Applies only to this reviewed fiscal period.
2026-02-19
shortDebtNot reported under a supported tag
cash4.2BCashAndCashEquivalentsAtCarryingValue2026-02-19
shares120.8MWeightedAverageNumberOfDilutedSharesOutstanding2026-02-19
dividends430MPaymentsOfDividends2026-02-19
buybacks151MPaymentsForRepurchaseOfCommonStock2026-02-19
issuanceNot reported under a supported tag