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US health insurer focused heavily on Medicare Advantage plans, plus military (TRICARE) and CenterWell care-delivery businesses.
US health insurer focused heavily on Medicare Advantage plans, plus military (TRICARE) and CenterWell care-delivery businesses.
Gets a fixed monthly payment from the federal government for each Medicare Advantage member, adjusted for how sick the member is, and keeps what is left after medical bills, so cost trends and government rates drive profit. A quality star rating decides bonus payments. It also runs TRICARE military health plans in the East region.
Moat: narrow (scale, distribution, data). One of the largest Medicare Advantage franchises with deep broker/provider distribution.
Headquarters: Louisville, Kentucky, USA · Founded: 1961 · Employees: 67,060
Size Humana (HUM) is a United States Health Care company (Managed Health Care) with a market value of $52.1B, the 244th largest of 3,117 United States companies the cockpit tracks. Shares closed at $433.74 on 6 Nov 2026.
Performance Over six months the shares gained 58.1%, against +12.4% for the median peer and -1.1% for the United States market (cap-weighted) — highest of 8 in its peer set.
Growth Revenue grew 18.3% over the last twelve months (peer median +8.2%); the operating margin is 1.9% (peer median 3.8%).
Valuation It trades at 32.9× forward earnings against a peer median of 14.8× (2nd most expensive of 8).
Price implies For today's price to make sense, revenue must grow about 15% a year for seven years (Req g). Recent delivered growth is +11%, so the hurdle is +4 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Credit Humana has 21 bonds outstanding ($13.2B), rated BBB by the agencies and trading like BBB at a weighted spread of 108 bp.
Short interest Short interest is 3.0% of the free float (15 Oct 2026).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $146B | $130B | $118B | $106B | $92.9B |
| Revenue growth | — | +10% | +11% | +15% | — |
| Net income | $1.28B | $1.19B | $1.21B | $2.49B | $2.81B |
| Free cash flow | $1.95B | $375M | $2.39B | $2.98B | $3.47B |
| Capital expenditure | $590M | $546M | $575M | $1.00B | $1.12B |
| Total debt | $14.2B | $12.9B | $12.3B | $12.3B | $11.8B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Humana HUM | $52.1B | +58% | +18% | 2% | 32.9× | 15.2% |
| UnitedHealth UNH | $353B | +4% | +3% | 5% | 17.4× | 4.3% |
| CVS Health CVS | $107B | -7% | +7% | 4% | 9.9× | -3.9% |
| Elevance Health ELV | $92.0B | +13% | +4% | 4% | 14.8× | 4.7% |
| Centene CNC | $34.5B | +25% | +10% | 1% | 13.3× | 1.1% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | HUM | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +12.0% | +6.2% | highest of 8 |
| 6-month return | +58.1% | +12.4% | highest of 8 |
| Distance from 52-week high | -5.0% | -14.6% | highest of 8 |
| Revenue growth (TTM) | +18.3% | +8.2% | 3rd highest of 8 |
| Operating margin | 1.9% | 3.8% | 4th lowest of 8 |
| Forward P/E | 32.9× | 14.8× | 2nd most expensive of 8 |
| Growth the price implies (Req g, 7 yrs) | 15.2% | 4.3% | 2nd most demanding of 8 |
| Growth delivered (Del g) | +10.9% | +11.9% | 2nd lowest of 8 |
| Hurdle (Req g minus delivered) | +4.3 pp | -10.8 pp | 2nd most demanding of 8 |
| Bond spread | 108 bp | 84 bp | 3rd widest of 6 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Humana HUM | United States | $52.1B | +58% | +18% | 2% | 32.9× | 15.2% | +10.9% |
| Cigna CI | United States | $77.6B | +3% | +8% | 4% | 9.0× | -5.3% | +11.4% |
| Centene CNC | United States | $34.5B | +25% | +10% | 1% | 13.3× | 1.1% | +11.9% |
| Elevance Health ELV | United States | $92.0B | +13% | +4% | 4% | 14.8× | 4.7% | +10.3% |
| Molina Healthcare MOH | United States | $10.9B | +12% | -1% | 1% | 25.0× | 26.9% | +18.7% |
| Oscar Health OSCR | United States | $8.38B | +44% | +43% | 4% | 14.0× | -19.1% | +90.8% |
| UnitedHealth UNH | United States | $353B | +4% | +3% | 5% | 17.4× | 4.3% | +11.7% |
| Alignment Healthcare ALHC | United States | $1.54B | -59% | +36% | 1% | 1,052.5× | 13.2% | +32.7% |
Humana has 21 bonds outstanding with $13.2B face value. The agencies rate it BBB; its bonds trade like BBB. Weighted yield 5.94%, a spread of 108 bp over government bonds.