Humana Inc.
- Open
- 385.81
- Day high
- 388.40
- Day low
- 382.11
- Prev close
- 385.54
- Volume
- 1.0M
- Mkt cap
- $46.0B
- P/E (TTM)
- 36.0
- EPS (TTM)
- $10.65
- P/B
- 2.4
- P/S
- 0.3
- Yield
- 0.92%
- Per share
- $3.54
Humana Inc. (HUM) is a Healthcare company listed on NYSE. The stock is up 25% over the past year. Drillr has 2 published research articles covering HUM.
Humana Inc. (HUM) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 15 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
HUM earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Jul 29, 2026 | $7.27 | $7.61 | +4.7% | $40.9B | +0.7% |
| Apr 29, 2026 | $9.97 | $10.31 | +3.4% | $39.6B | +0.7% |
| Feb 11, 2026 | $-4.01 | $-3.96 | +1.2% | $32.5B | -8.7% |
| Nov 5, 2025 | $2.93 | $3.24 | +10.6% | $32.6B | +2.0% |
| Jul 30, 2025 | $5.92 | $6.27 | +5.9% | $32.4B | +1.6% |
| Apr 30, 2025 | $10.07 | $11.58 | +15.0% | $32.1B | -0.3% |
| Oct 30, 2024 | $3.40 | $4.16 | +22.4% | $29.4B | +2.5% |
| Jul 31, 2024 | $5.85 | $6.96 | +19.0% | $29.5B | +3.6% |
| Jan 25, 2024 | $-0.07 | $-0.11 | -57.1% | $26.5B | +3.6% |
| Nov 1, 2023 | $7.16 | $7.78 | +8.7% | $26.4B | +3.4% |
| Aug 2, 2023 | $8.82 | $8.94 | +1.4% | $26.7B | +2.0% |
| Feb 1, 2023 | $1.46 | $1.62 | +11.0% | $22.4B | -0.2% |
HUM insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Aug 4, 2026 | Crawford Frederick Johndirector | Grant | 544 | — |
| Aug 4, 2026 | Smith Paul Johndirector | Grant | 544 | — |
| Jul 2, 2026 | HILZINGER KURT Jdirector | Grant | 233 | — |
| May 5, 2026 | Martin Aaronofficer: President, Medicare Advantage | Grant | 8,206 | — |
| May 5, 2026 | Mehta Japanofficer: Chief Information Officer | Grant | 9,448 | — |
| May 5, 2026 | O'Hara Michelle A.officer: Chief Human Resources Officer | Grant | 10,485 | — |
| May 5, 2026 | Ventura Joseph Cofficer: Chief Legal Officer | Grant | 10,318 | — |
| May 5, 2026 | Dintenfass Davidofficer: President, Enterprise Growth | Grant | 11,273 | — |
| May 5, 2026 | Shetty Sanjay Kofficer: President, CenterWell | Grant | 9,945 | — |
| May 5, 2026 | Rechtin James A.officer: President & CEO | Grant | 35,633 | — |
| May 5, 2026 | Field Robert Stuartdirector | Grant | 852 | — |
| May 5, 2026 | Mellet Celesteofficer: Chief Financial Officer | Grant | 15,387 | — |
| Apr 3, 2026 | Shetty Sanjay Kofficer: President, CenterWell | Option | 887 | — |
| Apr 3, 2026 | Shetty Sanjay Kofficer: President, CenterWell | Tax | 401 | $175.44 |
| Apr 2, 2026 | HILZINGER KURT Jdirector | Grant | 536 | — |
Source: HUM SEC Form 4 filings, latest Aug 4, 2026. For informational purposes only — not investment advice.
See the full HUM insider & 13F page →HUM research & analysis
HUM Q1: GAAP Guide Cut, Benefit Ratio Beats Estimates
Humana's Q1 2026 earnings filing shows strong operational execution—benefit ratio beat, cost ratios improved 50-90 bps, membership growth on track—but the tape focused on a GAAP EPS guidance cut from $8.89 to $8.36. The cut is driven by discrete items (Star Ratings accounting and MaxHealth integration costs), not operational deterioration. Adjusted EPS guidance of at least $9.00 was affirmed, and medical cost trends are tracking better than expected.
Medicare Advantage 2026 Rate Hike: UNH and HUM Lead Margin Winners — Ranked
The April 7, 2026, Medicare Advantage rate decision sparked gains for UNH and HUM, signaling margin relief for exposed insurers. UNH leads with balanced exposure and scale, followed by HUM's pure-play bet and CI's value. Rankings prioritize MA leverage, growth, and valuations amid stabilizing reimbursements.
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Humana Inc. company profile
Overview
Humana Inc. (NYSE:HUM) is one of the largest health insurance companies in the United States, founded in 1961 and headquartered in Louisville, Kentucky. The company has evolved from its origins as a nursing home operator into a comprehensive health and well-being organization that serves approximately 17 million members in medical benefit plans and 5 million members in specialty products. Humana went public in 1981 and has grown through both organic expansion and strategic acquisitions to become a major player in the Medicare Advantage market, while also expanding into Medicaid and commercial insurance segments.
Business
Humana operates as a health insurance company that provides medical coverage and healthcare services primarily through government-sponsored programs. The healthcare insurance industry in the United States is complex, involving private insurers that contract with the federal government to provide benefits that would otherwise be delivered directly by government programs like Medicare and Medicaid. The company operates through three main business segments. The Retail segment represents the largest portion of revenue, focusing primarily on Medicare Advantage plans, which are private insurance alternatives to traditional Medicare that cover seniors aged 65 and older. Medicare Advantage plans receive payments from the federal government and often provide additional benefits beyond traditional Medicare, such as prescription drug coverage, dental, and vision care. This segment also includes individual Medicare Part D prescription drug plans and Medicare Supplement insurance. The Group and Specialty segment provides commercial health insurance to employer groups, including fully insured medical plans and administrative-services-only arrangements where the employer bears the financial risk. This segment also manages military health services through contracts like TRICARE, which provides healthcare to active duty military personnel, retirees, and their families. Additionally, it includes Medicaid plans, where Humana contracts with state governments to provide healthcare coverage to low-income individuals and families. The Healthcare Services segment, operating under the CenterWell brand, represents Humana's integrated care delivery model. This includes primary care clinics, home health services, pharmacy operations, and other provider services. This vertical integration allows Humana to control more of the healthcare delivery chain, potentially improving care coordination and reducing costs. Based on recent financial reports, the Insurance segments (Retail and Group/Specialty combined) account for approximately 85-90% of total revenue, while Healthcare Services represents roughly 10-15% of revenue.
Revenue model
Humana's primary revenue model is based on premium collection from government programs and individual members, combined with capitated payments from Medicare and Medicaid programs. In Medicare Advantage, the company receives monthly capitation payments from the Centers for Medicare & Medicaid Services (CMS) based on the risk profile of enrolled members. These payments are adjusted for factors like age, gender, health status, and geographic location. Members may also pay monthly premiums directly to Humana for additional benefits beyond basic Medicare coverage. For Medicaid plans, Humana receives per-member-per-month payments from state governments to manage healthcare services for eligible low-income populations. In commercial insurance, the company collects premiums from employer groups and individuals. The Healthcare Services segment generates revenue through fee-for-service payments from health plans (including Humana's own insurance segments) and direct-pay patients for primary care, home health, and pharmacy services. Humana's profitability depends heavily on managing the medical loss ratio (MLR) - the percentage of premium revenue paid out as medical costs. The company's margins are influenced by several key factors. Positive margin drivers include favorable medical cost trends, effective care management programs, higher government reimbursement rates, improved Star ratings (which provide bonus payments in Medicare Advantage), and successful risk adjustment coding. The company's integrated model through CenterWell can also reduce total cost of care by providing more efficient healthcare delivery. Negative margin pressures come from rising medical inflation, increased healthcare utilization, regulatory changes that reduce reimbursement rates, poor Star ratings performance, and competitive pricing pressure in annual bidding processes. External factors such as economic downturns affecting commercial membership, changes in government policy, and demographic shifts in member populations also impact profitability. The company has experienced significant margin pressure in recent years due to higher-than-expected medical utilization trends that emerged in late 2023 and continued through 2024.
Competitive moat
Humana's competitive moat is moderate but faces significant challenges. The company's primary competitive advantages stem from its scale in Medicare Advantage, integrated care delivery model, and established relationships with government payers. With nearly 5% market share growth in Medicare Advantage, Humana benefits from economies of scale in administrative costs, provider network negotiations, and risk pooling across a large member base. The CenterWell integrated model represents a potentially strong moat, as it allows Humana to control more of the healthcare value chain through owned primary care clinics, home health services, and pharmacy operations. This vertical integration can improve care coordination, reduce costs, and create switching costs for members who develop relationships with Humana's providers. The company's data analytics capabilities and care management programs, enhanced by AI investments and partnerships with technology companies like Google, provide additional competitive advantages. However, Humana's moat faces several significant threats. The Medicare Advantage market is highly competitive, with major players like UnitedHealth Group, Anthem, and Aetna competing aggressively for market share. The industry is subject to extensive government regulation, and changes in reimbursement rates or program rules can quickly erode competitive advantages. Humana's recent struggles with Star ratings performance - a critical factor in Medicare Advantage profitability - demonstrate how regulatory metrics can undermine competitive positioning. The company's dependence on government programs creates regulatory risk, as policy changes can dramatically impact profitability. Additionally, the healthcare services model requires significant capital investment and operational expertise that may not generate returns if utilization patterns or reimbursement structures change unfavorably. New entrants, including technology companies and other healthcare disruptors, pose long-term threats to traditional insurance models.
Risks & safety
Humana presents a moderate margin of safety with some financial stress indicators requiring attention. • Liquidity and Solvency: Cash and short-term investments of $4.25 billion provide reasonable liquidity buffer. Current ratio of 1.91 indicates adequate short-term liquidity. However, the company experienced negative free cash flow of -$682 million in Q4 2024, raising concerns about cash generation consistency. • Debt Position: Debt-to-equity ratio of 0.75 represents moderate leverage. Total liabilities of $33.1 billion against total assets of $50.9 billion suggests manageable debt levels, though the company carries significant regulatory capital requirements as an insurance entity. • Valuation Metrics: Trading at P/E ratio of 6.4x based on recent earnings appears attractive, though this reflects depressed 2024 profitability. EV/EBITDA of 4.95x suggests reasonable valuation relative to cash generation capacity. • Earnings Volatility: Significant earnings swings from $2.8 billion net income in 2022 to -$686 million loss in Q4 2024 demonstrate high earnings volatility tied to medical cost trends and regulatory factors. • Regulatory Risk: As a government contractor, subject to payment delays, rate cuts, and policy changes that can quickly impact financial performance.
Recent development
Over the past few years, Humana has undergone significant strategic transformation focused on vertical integration and margin recovery. The company reorganized its operations into distinct segments, with the creation of the CenterWell brand to house its healthcare services operations, including primary care clinics, home health services, and pharmacy operations. This integrated care model aims to reduce total cost of care while improving health outcomes for members. The company has been aggressively expanding its primary care footprint, adding nearly 50 centers in 2023 and continuing expansion in 2024 and 2025. The home health business has been transitioning to value-based care models, with a target of having 50% of Medicare Advantage members in value-based home health arrangements by 2027. Humana has also made significant technology investments, including partnerships with Google to accelerate AI implementation in contact centers and care management, and investments in companies like Healthpilot to improve the Medicare shopping experience. Following significant margin pressure that emerged in late 2023 due to higher-than-expected medical utilization, Humana has implemented a comprehensive margin recovery strategy. This includes strategic plan exits from unprofitable markets, benefit restructuring, improved pricing discipline, and intensive focus on improving Star ratings performance. The company has committed to achieving at least 3% margins in Medicare Advantage by 2027, with significant investments in care gap closure, provider network incentives, and technology improvements. Recent leadership changes include the appointment of new executives in key positions: Celeste Malay as CFO, Michelle O'Hara as Chief Human Resources Officer, and Joppa Mehta as Chief Information Officer. The company has also been expanding its Medicaid footprint, winning new contracts in states like Georgia, Texas, and Illinois, and now operates in 13 states for Medicaid services.
HUM company profile · for informational purposes only — not investment advice.
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