# Humana Inc. (HUM)

> Source: Nexqual · https://nexqual.com/HUM · data as of 2026-10-22 20:03 UTC · cite as "Nexqual, Humana Inc. (HUM), nexqual.com/HUM" · informational, not investment advice.

**Price:** USD 420.97 (-1.05% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 425.42 · day 417.5–428.31 · 52w 163.11–456.5 · market cap $50.6B · NYQ

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $146B, net income $1.28B (0.9% margin), free cash flow $1.95B (SEC filings).
- Valuation: P/E 39.5x (avg 24.8x at the last 3 fiscal year-ends), EV/EBITDA 12.2x, net cash $9.62B.
- 2 of 80 tracked superinvestors hold HUM (13F, Q2 2026): 0 new, 0 added, 2 reduced, 0 unchanged.
- Analysts: Buy (mean 2.31 on a 1–5 scale) (26 analysts), mean target USD 465.13 (range 280–596).
- Total return with dividends: 1Y +46.1% vs S&P 500 +14.9%; 5Y -4.3% vs S&P 500 +80.3%.
- Next earnings: 2026-11-06, EPS estimate USD -1, revenue estimate $40.9B.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $83.1B | $92.9B | $106B | $118B | $130B | $146B |
| Operating income | $3.15B | $3.80B | $4.01B | $2.56B | $2.70B | $2.71B |
| Net income | $2.93B | $2.81B | $2.49B | $1.21B | $1.19B | $1.28B |
| EPS (diluted) | $22.67 | $22.08 | $20.00 | $9.98 | $9.84 | — |
| Free cash flow | $920M | $3.45B | $2.98B | $2.39B | $375M | $1.95B |
| Operating margin | 3.8% | 4.1% | 3.8% | 2.2% | 2.1% | 1.9% |
| Net margin | 3.5% | 3.0% | 2.3% | 1.0% | 0.9% | 0.9% |
| Revenue growth | +7.7% | +11.8% | +14.5% | +10.7% | +10.1% | — |
| Cash + short-term investments | $16.6B | $18.9B | $21.3B | $20.4B | $19.9B | — |
| Total debt | $12.5B | $11.1B | $11.7B | $11.7B | $12.4B | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 39.5x · P/S 0.3x · EV/EBITDA 12.2x · EV/Sales 0.3x · P/FCF 25.9x · P/B 2.6x · FCF yield 3.86% · Earnings yield 2.53% · Dividend yield (paid, TTM) 0.85% · Buyback yield (TTM) 0.30% · Net cash $9.62B · EV $40.9B
P/E at fiscal year-ends: Dec 2025 26.0x, Dec 2024 25.4x, Dec 2023 22.9x.

## Superinvestors (SEC 13F-HR, Q2 2026)
2 of 80 tracked investors hold HUM. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Richard Pzena | Pzena Investment Management | 5.13% | $1.75B | Reduced -19.5% |
| Dodge & Cox Funds | Dodge & Cox | 2.28% | $4.35B | Reduced -3.9% |

## Analysts
Consensus Buy (mean 2.31 on a 1–5 scale), 26 analysts; mean target USD 465.13 (low 280, high 596).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-13 | Mizuho | Target raised | Outperform | $468 → $495 |
| 2026-10-12 | UBS | Target raised | Neutral | $405 → $495 |
| 2026-10-12 | Truist Securities | Target raised | Hold | $415 → $475 |
| 2026-10-12 | Oppenheimer | Target raised | Outperform | $475 → $525 |
| 2026-10-12 | Raymond James | Upgrade | Market Perform → Outperform | $520 |
| 2026-10-09 | Barclays | Target raised | Overweight | $515 → $582 |
| 2026-10-09 | Oppenheimer | Target raised | Outperform | $405 → $475 |
| 2026-10-09 | Baird | Upgrade | Neutral → Outperform | $390 → $596 |
| 2026-10-07 | Cantor Fitzgerald | Upgrade | Neutral → Overweight | $300 → $460 |
| 2026-09-25 | Barclays | Upgrade | Equal-Weight → Overweight | $407 → $515 |
| 2026-08-10 | JP Morgan | Target raised | Neutral | $316 → $393 |
| 2026-08-05 | Morgan Stanley | Upgrade | Underweight → Equal-Weight | $249 → $370 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | +46.1% | -4.3% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +46.3% | -0.9% |
| Volatility (annualized) | 47.7% | 40.0% |
| Max drawdown | -44.3% (Oct 2025→Mar 2026) | -69.2% (Oct 2022→Mar 2026) |

## Peers (Healthcare Plans)
CNC (Centene Corporation) USD 71.24 +1.42% · CI (The Cigna Group) USD 315.88 +3.78% · ELV (Elevance Health, Inc.) USD 445.28 +2.57% · CVS (CVS Health Corporation) USD 94.48 +1.10% · MOH (Molina Healthcare Inc) USD 216.64 +0.81% · OSCR (Oscar Health, Inc.) USD 33.32 -0.39%

## More
Full page: https://nexqual.com/HUM · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)


Other companies that name HUM in their own reports (relationship from HUM's side):

| Relationship | Company | Their filing | Sentence |
|---|---|---|---|
| partner | SelectQuote, Inc. (SLQT) | 10-K 2026-08-25 | "We represent approximately 20 leading, nationally-recognized insurance carrier partners, including carriers owned by UnitedHealthcare ("UHC"), Humana, Wellcare, and Aetna." |

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $-1.00 | $-0.14 | +607.6% | $40.89B | 23 |
| Next quarter (ends 2026-12-31) | $-7.86 | $-8.17 | -3.7% | $41.26B | 23 |
| Current fiscal year (ends 2026-12-31) | $9.16 | $8.96 | +2.3% | $162.74B | 26 |
| Next fiscal year (ends 2027-12-31) | $17.09 | $16.03 | +6.6% | $168.69B | 26 |