15 years of revenue, profit, cash flow and balance-sheet history through FY2025,
from SEC filings — with a computed, factual read of the trend.
Updated Overview →
Growth & profitability
Revenue has grown 10.9% per year over the past 5 years.
Net income has grown slower than revenue (-18.8% vs 10.9% per year).
Operating margin has contracted, at 2.1% in the latest year.
Free cash flow has declined 39.6% per year over the past 5 years.
Financial health
Total debt ($12.4B) exceeds cash ($4.2B); net debt is $8.2B.
Total debt has grown faster than revenue (15.3% vs 10.9% per year).
Operating income covered interest expense 4.3× in the latest year.
Total debt is 3.6× EBITDA.
Shareholder returns
Dividends have been paid for 15 consecutive years, consuming 36.2% of earnings and 114.7% of free cash flow.
The dividend has grown 5.9% per year over the past 5 years.
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Free cash flow (CFO − capex)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key annual figures
FY
Revenue
Net income
Gross M
Op M
FCF
Total debt
Cash
2025
$129.7B
$1.2B
0.0%
2.1%
$375M
$12.4B
$4.2B
2024
$117.8B
$1.2B
0.0%
2.2%
$2.4B
$11.1B
$2.2B
2023
$106.4B
$2.5B
0.0%
3.8%
$3.0B
$10.2B
$4.7B
2022
$92.9B
$2.8B
0.0%
4.1%
$3.5B
$9.0B
$5.1B
2021
$83.1B
$2.9B
0.0%
3.8%
$920M
$10.5B
$3.4B
2020
$77.2B
$3.4B
0.0%
6.5%
$4.7B
$6.1B
$4.7B
2019
$64.9B
$2.7B
0.0%
4.9%
$4.5B
$5.0B
$4.1B
2018
$56.9B
$1.7B
0.0%
5.4%
$1.6B
$6.1B
$2.3B
2017
$53.8B
$2.4B
0.0%
7.9%
$3.5B
$4.9B
$4.0B
2016
$54.4B
$614M
0.0%
3.2%
$1.4B
$4.1B
$3.9B
2015
$54.3B
$1.3B
0.0%
4.3%
$345M
$4.1B
$2.6B
2014
$48.5B
$1.1B
0.0%
4.9%
$1.1B
$3.8B
$1.9B
2013
$41.3B
$1.2B
0.0%
5.0%
$1.3B
$2.6B
$1.1B
2012
$39.1B
$1.2B
0.0%
5.2%
$1.5B
$2.6B
$1.3B
2011
$36.8B
$1.4B
0.0%
6.4%
$1.7B
$1.7B
$1.4B
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Free cash flow (CFO − capex, quarterly)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key quarterly figures
Quarter
Revenue
Net income
Gross M
Op M
FCF
Total debt
Cash
Mar '26
$39.6B
$1.2B
0.0%
4.4%
$1.1B
$12.3B
$5.0B
Dec '25
$32.5B
-$796M
0.0%
-2.5%
-$1.9B
$12.4B
$4.2B
Sep '25
$32.6B
$195M
0.0%
1.2%
$836M
$12.6B
$5.4B
Jun '25
$32.4B
$545M
0.0%
3.4%
$1.2B
$12.6B
$4.0B
Mar '25
$32.1B
$1.2B
0.0%
6.3%
$236M
$12.7B
$4.3B
Dec '24
$29.2B
-$693M
0.0%
-1.9%
-$682M
$11.1B
$2.2B
Sep '24
$29.4B
$480M
0.0%
2.5%
$1.7B
$11.9B
$5.1B
Jun '24
$29.5B
$679M
0.0%
3.9%
$1.1B
$11.7B
$5.5B
Mar '24
$29.6B
$741M
0.0%
4.2%
$246M
$12.4B
$5.9B
Dec '23
$26.5B
-$541M
0.0%
-1.3%
-$7.4B
$10.2B
$4.7B
Sep '23
$26.4B
$832M
0.0%
4.6%
$1.0B
$9.5B
$15.1B
Jun '23
$26.7B
$959M
0.0%
5.4%
$2.9B
$9.7B
$16.2B
Mar '23
$26.7B
$1.2B
0.0%
6.4%
$6.5B
$9.7B
$13.7B
Dec '22
$22.4B
-$15M
0.0%
0.6%
-$5.4B
$9.0B
$5.1B
Sep '22
$22.8B
$1.2B
0.0%
5.1%
$8.2B
$7.8B
$13.6B
Jun '22
$23.7B
$696M
0.0%
5.1%
$680M
$11.3B
$5.2B
Mar '22
$24.0B
$930M
0.0%
5.4%
$7M
$11.3B
$4.9B
Dec '21
$21.1B
-$14M
0.0%
0.3%
-$467M
$10.5B
$3.4B
Sep '21
$20.7B
$1.5B
0.0%
3.0%
$2.5B
$11.5B
$4.3B
Jun '21
$20.6B
$588M
0.0%
6.0%
$31M
$6.1B
$3.4B
Valuation over time
How the market has priced HUM against its own fundamentals since 2023-03 —
each month-end's share price set against the most recent annual filing, so the multiple moves
as price runs ahead of (or behind) earnings. Split-adjusted.
The price-to-earnings ratio has risen from 20.8× (Mar '23) to 38.0× (Jun '26).
The price-to-sales ratio has fallen from 0.6× (Mar '23) to 0.3× (Jun '26).
The dividend yield has risen from 0.7% (Mar '23) to 1.0% (Jun '26).
Price / earnings (P/E)
P/E
Price / sales (P/S)
P/S
Dividend yield (%)
Dividend yield %
Frequently asked questions
Is HUM growing its revenue and profit?
Over the past 5 years, Humana's revenue has grown 10.9% per year, and net income declined 18.8% per year. These are computed facts, not advice.
How much debt does HUM have?
As of FY2025, Humana reported $12.4B of total debt against $4.2B of cash; operating income covered interest expense 4.3×.
What is HUM's profit margin?
In FY2025, gross margin was —, operating margin 2.1%, and net margin 0.9%.
What is HUM's P/E ratio?
As of Jun '26, Humana traded at a price-to-earnings ratio of about 38.0× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S and dividend yield have moved with the share price. These are computed facts, not advice.
Where does this data come from?
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted ·
growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price
against the latest annual filing. Informational only — not investment advice.