Humana Inc (HUM)

Health Care · Managed Health Care · US stock · S&P 500 component

$420.97 ▼ -4.45 (1.05%)

At close 22 Oct 2026 · USD · Volume 1,811,697

Compare with UNH

Interactive chart Research report Forecast ranges Pro workspace SEC filings Historical data

Fair valueFair

$397 −5.7% to fair value

$198fair band $338–$481$595

Day's range

$417.49 – $428.31

52-week range

$163.11 – $456.50

About Humana Inc

Humana is a health insurer best known for its Medicare Advantage plans, which cover older Americans, and it also offers Medicaid, military and group plans. Its pharmacy and primary care clinic businesses support members. The company earns money from premiums paid mainly by government programmes, and profit depends on the gap between those premiums and the medical costs of its members.

The company reported trailing revenue of $137.2 billion and three-year growth of 11.8% a year. Profitability figures show an operating margin of 1.8% and a return on invested capital of 19%. On leverage, net debt to EBITDA is -2.6 times, so cash exceeds debt. The dividend yield is 0.6%. Its X-Ray Score is 47 out of 100. These figures describe past results and the present financial position only.

Price chart

Interactive chart Historical data & CSV

52-wk range $163.11 – $456.50Volume 1,811,697Daily, split-adjusted

Vitals

Market cap$50.8B

52-week range$163.11 – $456.50

Volume (last day)1,811,697

P/E (TTM)45.0

EBIT / EV yield5.7%

Free-cash-flow yield2.5%

Dividend yield0.6%

Revenue (TTM)$137.2B

Net income (TTM)$1.1B

Operating margin1.8%

Return on capital18.9%

Debt incl. leases$14.0B

Cash & securities$22.0B

Debt = borrowings plus lease liabilities. Cash & securities = cash, equivalents and short-term marketable securities (long-term securities are not counted, so net cash can be understated for companies that hold large long-term investments). Net debt = debt minus cash & securities. Source: latest SEC 10-Q/10-K. EBIT / EV yield = operating profit divided by market cap plus net debt.

Fair value estimate

$397middle half of models $352 – $457

Fair −5.7% to fair value

Average of the 5 valuation models that pass our checks: multiples, discounted cash flow, dividend discount and earnings power value. A model more than 100% above or 60% below the price is left out as unrealistic. Model uncertainty is Medium, based on how far apart the models are. Undervalued or Overvalued means the gap to fair value is more than 17.5%.

Price $421

Undervalued < $338Fair $338 – $481Overvalued > $481

P/E multiple

$387

P/B multiple

$457

P/S multiple

$529

Dividend discount, stable

$260

Dividend discount, multi-stage

$352

Growth the price implies

13.0%/yr

A model estimate, not a price target or recommendation. Inputs: risk-free 5.13%, equity risk premium 4.30% (Damodaran). How it works.

What this means

Weak business, fairly priced

The price sits inside our fair-value band. A high score does not guarantee a good outcome; it shifts the odds a little. Use the checklist as a prompt for your own research.

Before you invest · decision checklist

I understand how this company makes money Business quality is average or better 49 The price is not above fair value $397 fair value Debt looks manageable -2.6× EBITDA Revenue has been growing 11.8% a year Profits are backed by cash There are no red flags none raised I know what share of my savings this would be

Ticked boxes are filled in from our data; the rest are yours to answer.

The five-lens scan

Every score explained in one sentence, ranked against Health Care peers. Open a lens to see the numbers behind it.

Strong: 70 to 100Fair: 50 to 69Weak: under 50No score: not enough data

Valuation Weak

45/100

Expensive against its sector on earnings and cash flow.

See the numbers →

EBIT / EV yield5.7%

Free-cash-flow yield2.5%

Fair value vs price0.9×

Growth Weak

47/100

Growing slower than most of its sector.

See the numbers →

Revenue growth (3y)11.8%

EPS growth (3y)-23.6%

Growth consistency100%

Profitability Weak

48/100

Earns lower returns on its capital than most peers.

See the numbers →

Return on invested capital18.9%

Operating margin1.8%

Financial health Fair

51/100

Balance sheet is in typical shape for its sector.

See the numbers →

Piotroski F-Score5 / 9

Net debt / EBITDA-2.6×

Interest cover3.7×

Dividends Weak

47/100

Dividend is modest or less certain than peers.

See the numbers →

Dividend yield0.6%

Dividends vs free cash flow25%

Dividend growth3.1%

Quarterly results: last 6 quarters

+10.4%

Dec '24

+8.4%

Mar '25

+9.6%

Jun '25

+11.1%

Sep '25

+11.3%

Dec '25

+23.5%

Mar '26

Revenue against the same quarter a year earlier. Latest quarter revenue $39.6B, diluted EPS $9.83.

Compare with peers

ELV Elevance Health, Inc.60 UNH Unitedhealth Group Inc58 CNC Centene Corp42

Other Managed Health Care companies by X-Ray Score.

SWOT analysis: Humana Inc

Strengthsinside the company

Return on invested capital is 18.9%, against a median of 11.5% for industry peers.
Revenue has grown 11.8% a year over three years (median 10.5% for industry peers).
Cash exceeds debt (net debt is negative), which gives room to invest or ride out a downturn.

Weaknessesinside the company

Operating margin of 1.8% is thin against 2.7% for industry peers.
Earnings per share have declined 23.6% a year over three years.

Opportunitiesvaluation and setting

Price momentum is strong on the weekly and monthly signals (trends can reverse).

Threatsvaluation and setting

Trades at 44.9x earnings, 60% above the 28.0x median of industry peers, so the price already assumes better results.

Written by fixed rules from the figures on this page and the peer table below: filings, our fair value, the sector climate and the price trend. It summarises the data, it is not a forecast or advice.

Compare HUM with peers and sector

Medians of 3 Managed Health Care peers and of 59 Health Care stocks in our universe. Largest peers (X-Ray Score): UNH 58, ELV 60, CNC 42.

Metric	HUM	Peers	Sector
X-Ray Score (out of 100)	47	58	49
Valuation	45	71	55
Growth	47	53	48
Profitability	47	55	51
Financial health	51	43	48
Dividends	46	–	52

Sector leaders: highest X-Ray Score in Health Care

HUM ranks #34 of 60 in Health Care and #3 of 4 in Managed Health Care by X-Ray Score. A higher score is stronger on our five pillars; it is a ranking of facts, not a forecast.

Company	X-Ray Score
#1 INCY Incyte Corp	80
#2 DXCM Dexcom Inc	78
#3 PODD Insulet Corp	72
#4 RMD Resmed Inc	70
#5 ZTS Zoetis Inc.	69
…
#34 HUM Humana Inc (this stock)	47

Metric	HUM	Peers	Sector
P/E ratio	44.9x	–	28.0x
PEG ratio	–	–	2.35
Price / book	2.7x	2.2x	4.0x
Price / sales	0.4x	0.5x	3.8x
EV / EBITDA	13.7x	–	17.9x
Price / free cash flow	39.9x	15.4x	22.3x
Dividend yield	0.6%	–	1.1%
Gap to our fair value	−5.7%	–	−1.0%

Metric	HUM	Peers	Sector
Price change, 1 month	+13.2%	+12.5%	+7.6%
Price change, 3 months	+5.9%	+8.1%	+14.9%
Price change, 6 months	+94.1%	+36.8%	+22.1%
Price change, 1 year	+47.9%	+31.6%	+20.7%

Metric	HUM	Peers	Sector
Market value	$50.8B	$97.0B	$49.2B
Revenue (last 12 months)	$137.2B	$202.9B	$14.3B
EBITDA (last 12 months)	$3.1B	$7.0B	$2.7B
Net income (last 12 months)	$1.1B	$5.0B	$1.4B
Free cash flow (last 12 months)	$1.3B	$9.0B	$2.3B

Metric	HUM	Peers	Sector
Revenue growth, last year	+10.1%	+12.5%	+7.1%
Revenue growth, 3 years a year	+11.8%	+10.5%	+5.5%
EPS growth, 3 years a year	−23.6%	–	+5.5%
Free cash flow growth, 3 years a year	−52.3%	−11.8%	+4.5%
Dividend growth	+3.1%	–	+4.6%

Metric	HUM	Peers	Sector
Gross margin	–	88.6%	65.0%
EBITDA margin	2.3%	3.5%	21.2%
Operating margin	1.8%	2.7%	16.9%
Net margin	0.8%	2.5%	12.3%
Return on invested capital	18.9%	11.5%	11.8%
Return on equity	6.1%	11.1%	13.7%

Metric	HUM	Peers	Sector
Net debt / EBITDA	-2.6x	–	2.0x
Interest cover	3.7x	3.8x	10.4x
Current ratio	1.8x	1.1x	1.5x
Piotroski F-score (0 to 9)	5	7	6

Green means better than the peer median, red worse (only where a higher or lower figure is clearly better). A dash means too few companies report the figure. P/E, EV/EBITDA and price changes are not graded: a different level is not good or bad by itself.

Factor ratings for HUM

Each factor is rated by where HUM stands among the 60 Health Care stocks in our universe.

Rating against the sector

Goodthe top third of these stocks

Averagethe middle third of these stocks

Badthe bottom third of these stocks

"Beats" is the share of those stocks it is ahead of.

Against its own history

The last columns set today's figure against the company's own median of its last five financial years:

▲ Betterbetter than its usual level

▼ Worseworse than its usual level

≈ In linewithin its usual range

For valuation factors Good means cheaper than most of the sector and Better means cheaper than usual for this company, which is not the same as a bargain.

In total: 8 Good · 2 Average · 11 Bad of 21 Growth: 2 · 0 · 1 Profitability: 1 · 0 · 3 Financial strength: 1 · 1 · 2 Valuation: 3 · 0 · 2 Cash flow: 0 · 1 · 3 Efficiency: 1 · 0 · 0

Factor	HUM	Rating	Sector median	Own 5-year median	Against own history
Growth
Revenue growth, 3 years a year	+11.8%	Good beats 84%	+5.5%	–	–
Revenue growth, last year	+10.1%	Good beats 71%	+7.1%	+10.7%	≈ In line
EPS growth, 3 years a year	−23.6%	Bad beats 8%	+5.0%	–	–
Profitability
Operating margin	1.8%	Bad beats 14%	16.4%	3.8%	▼ Worse
Net margin	0.8%	Bad beats 13%	11.1%	2.3%	▼ Worse
Return on invested capital	18.9%	Good beats 69%	12.2%	–	–
Return on equity	6.1%	Bad beats 18%	13.7%	15.3%	▼ Worse
Financial strength
Net debt / EBITDA	-2.6x	Good beats 99%	2.0x	-2.0x	▲ Better
Interest cover	3.7x	Bad beats 16%	9.4x	8.1x	▼ Worse
Current ratio	1.77	Average beats 63%	1.52	1.62	≈ In line
Piotroski F-score	5 / 9	Bad beats 25%	6 / 9	–	–
Valuation
P/E ratio	44.9x	Bad beats 22%	28.2x	23.2x	▼ Worse
Price / book	2.7x	Good beats 70%	3.7x	3.5x	▲ Better
Price / sales	0.4x	Good beats 89%	3.7x	0.5x	≈ In line
EV / EBITDA	13.7x	Good beats 75%	17.6x	9.9x	▼ Worse
Free cash flow yield	2.5%	Bad beats 14%	4.4%	5.2%	▼ Worse
Cash flow
Free cash flow margin	0.9%	Bad beats 4%	16.3%	2.0%	▼ Worse
Cash from operations / net income	1.63	Average beats 52%	1.61	1.60	≈ In line
Free cash flow growth, 3 years a year	−52.3%	Bad beats 1%	+4.3%	–	–
Accruals (lower is better)	−1.3%	Bad beats 12%	−3.9%	–	–
Efficiency
Days sales outstanding	14 days	Good beats 97%	62 days	8 days	▼ Worse

These ratings compare companies with each other and describe the past; they are not a forecast, a recommendation or part of the X-Ray Score. A factor is left out when its data is missing or meaningless (for example a P/E on negative earnings). A dash in the history columns means fewer than three usable years.

Fundamentals checklist

● 6 Good · ● 2 Average · ● 7 Bad

Cash quality

Earnings backed by cashBad

Free-cash-flow yieldBad

Risk models

Altman Z''Good

Piotroski F-ScoreBad

Growth

EPS growth (3y)Bad

Free-cash-flow growth (3y)Bad

Revenue growth (3y)Good

Growth consistencyGood

Balance sheet

Current ratioAverage

Net debt / EBITDAGood

Interest coverBad

Valuation

Fair value vs priceAverage

EBIT / EV yieldGood

Profitability

Return on invested capitalGood

Operating marginBad

Each check is graded against the company's sector, not a fixed number. Checklist score 43/100.

Financials

	FY21	FY22	FY23	FY24	FY25
Revenue	$83.1B	$92.9B	$106.4B	$117.8B	$129.7B
Operating income	$3.1B	$3.8B	$4.0B	$2.6B	$2.7B
Net income	$2.9B	$2.8B	$2.5B	$1.2B	$1.2B
Operating cash flow	$2.3B	$4.6B	$4.0B	$3.0B	$921M
Operating margin	3.8%	4.1%	3.8%	2.2%	2.1%
Free cash flow	$920M	$3.5B	$3.0B	$2.4B	$375M
Diluted EPS	$22.67	$22.08	$20.00	$9.98	$9.84

Fiscal years, from SEC filings.

Technical summary

Daily

Strongly bullish

11 bullish · 4 neutral · 1 bearish

Weekly

Strongly bullish

11 bullish · 1 neutral · 0 bearish

Monthly

Strongly bullish

7 bullish · 1 neutral · 0 bearish

Moving averages (daily)

SMA 10	424.7	Bearish
EMA 10	419.1	Bullish
SMA 20	408.2	Bullish
EMA 20	411.6	Bullish
SMA 50	397.0	Bullish
EMA 50	398.0	Bullish
SMA 100	387.5	Bullish
EMA 100	373.5	Bullish
SMA 200	303.5	Bullish
EMA 200	335.3	Bullish

Oscillators (daily)

RSI (14)	56.12	Neutral
MACD (12, 26)	9.13	Bullish
Momentum (12)	4.13	Bullish
Stochastic %K (14)	55.94	Neutral
Williams %R (14)	-44.06	Neutral
CCI (20)	50.20	Neutral

Pivot points (classic, last session)

405.4

411.4

416.2

Pivot

422.3

427.0

433.1

437.8

Signals describe what the chart is doing, not what to do. Moving averages: price above the average is bullish. Oscillators use the usual thresholds (RSI 30/70, Stochastic 20/80, CCI ±100, Williams %R −80/−20; MACD and momentum above zero are bullish). Weekly and monthly views use closing prices only.

Dividends

Paid, last 12 months

2.66 USD

Yield on today's price

0.63%

Frequency

Quarterly

Next ex-dividend date

30 Oct 2026

Ex-dividend date	Amount per share
30 Oct 2026 (upcoming)	0.8850
26 Jun 2026	0.8850
27 Mar 2026	0.8850
26 Dec 2025	0.8850
26 Sep 2025	0.8850
27 Jun 2025	0.8850
28 Mar 2025	0.8850
31 Dec 2024	0.8850
30 Sep 2024	0.8850
28 Jun 2024	0.8850
27 Mar 2024	0.8850
28 Dec 2023	0.8850

Ex-dividend dates and amounts from EODHD. Shown as declared, before tax.

ETFs that hold HUM

ETF	Share of the fund
IHF iShares U.S. Healthcare Providers	4.68%
EAGL The 2023 ETF Series	4.04%
RPV Invesco S&P 500 Pure Value	2.17%
MFSV MFS Active Value	1.14%
RWL Invesco S&P 500 Revenue	1.13%
FMDE Fidelity Enhanced Mid Cap	0.96%
XLV Health Care Select Sector SPDR	0.83%
VOE Vanguard Mid-Cap Value	0.82%

The eight funds with the largest weight in HUM among the ETFs we cover, from each fund's latest SEC Form N-PORT (quarter-end positions, so they can be months old). All ETFs.