Humana Inc. (HUM)

NYSE: HUM · USD

$412

-3.19 (-0.8%)· Recorded snapshot

영어 원본으로 대체KO

번역하는 동안 영어 원본을 표시 중

이 리포트는 아직 번역되지 않았습니다. 번역 대기열이 따라잡으면 몇 분 후에 새로고침하세요.

StockMarketAgent Research · Analyzed 2026-10-02

Our latest published analysis: HUM rated Sell

Humana Inc.'s published Sell conclusion compares the analysis-date price with fair value and potential value. Read the full report for assumptions, evidence, and material risks.

Fair value

$264 / share

Potential value

$335 / share

Upside to FV

-31.9%

from $412

Moat

7/10

Narrow

Read full analysis →View archive · 24mo

9-phase methodology · same model in each published edition

Market cap	$46.6B
Revenue (ttm)	145.7B
Net income (ttm)	1.3B
EPS (ttm)	$10.6
Shares out	120.1M
P/E (trailing)	38.9x
P/E (forward)	24.3x
Dividend	$3.54 (0.85%)
Volume	722,004
Beta	0.74

Market data

Price

Recent price action with selectable time range.

Financial snapshot

Revenue (ttm): 145.7B
Net income (ttm): 1.3B
EPS (ttm): $10.6
P/E (trailing): 38.9x
P/E (forward): 24.3x
Market cap: $46.6B

Item	P1	P2	P3	P4	P5	Trend
Period	2021-12-31	2022-12-31	2023-12-31	2024-12-31	2025-12-31	Trend
Revenue	$83.06B	$92.87B	$106.37B	$117.76B	$129.66B	+11.8%
Gross profit	$14.45B	$17.23B	$18.05B	$17.15B	$18.85B	+6.9%
Operating income	$3.15B	$3.80B	$4.01B	$2.56B	$2.70B	-3.7%
Net income	$2.93B	$2.81B	$2.49B	$1.21B	$1.19B	-20.2%
EPS (diluted)	$22.67	$22.08	$20.00	$9.98	$9.84	-18.8%
EBITDA	$4.46B	$4.81B	$4.73B	$3.26B	$2.91B	-10.1%
R&D	—	—	—	—	—	—
SG&A	$10.12B	$12.67B	$13.19B	$13.70B	$15.45B	+11.2%

Ticker	Name	Market cap	P/E	P/S	ROIC	5Y rev CAGR	1Y total return	Rating
AAPL	Apple Inc.	5T	39.4x	10.8x	101.6%	+6.1%	+28.5%	매도
ABNB	Airbnb, Inc.	97.8B	37.5x	7.4x	16.8%	+24.4%	+28.5%	매도
ADBE	Adobe Inc.	97.1B	13.9x	3.7x	57.2%	+11.5%	-30.7%	적극 매수
ABBV	AbbVie Inc.	505.6B	80.8x	7.9x	17.7%	+3.7%	+29.1%	매도
ABT	Abbott Laboratories	177.6B	38.2x	3.7x	7.2%	+2.7%	-17.2%	비중 축소
ALGN	Align Technology Inc.	10.9B	26.6x	2.6x	17.2%	+3.6%	+11.6%	비중 축소

Base and Bull scenarios

Base55%

Price target

$264.45

-31.9% from spot

The Base scenario models a multi-year operational turnaround where disciplined Medicare Advantage contract repricing and administrative cost controls lift Insurance segment operating margins toward mid-cycle norms. The Base target of $264.45 carries a 55.0% probability, implying an expected return of -31.9% from $388.36 (as of 2026-10-02). Confirmation requires steady progression in segment margins across quarterly checkpoints, while failure to restore underwriting profitability by FY2027 would disconfirm this trajectory.

Insurance segment underwriting margins normalize toward mid-cycle averages over the forecast horizon.
CenterWell clinical platform expands services and maintains consistent operating profitability.
Targeted Medicare Advantage market rationalization and plan repricing restore operating cash flow.

Bull20%

Price target

$334.97

-13.7% from spot

The Bull scenario models accelerated margin expansion as Medicare Advantage repricing outpaces medical cost inflation, Star rating quality bonuses are successfully remediated, and CenterWell clinical operations scale rapidly across external payer networks. This optimistic path yields a target of $334.97 with a 20.0% probability, representing an implied return of -13.7% relative to $388.36. Disconfirmation would emerge if medical utilization surges further or if member attrition accelerates in repriced markets.

Aggressive Medicare Advantage repricing and benefit design changes drive rapid medical loss ratio recovery.
CenterWell accelerates external third-party commercial partnerships and expands clinical contribution.
Operating cash flow rebounds strongly, allowing resumption of large-scale share repurchases.

Sensitivity: Ke × terminal growth

The highlighted cell is Fair value when every assumption sits at its base level ($264.45). Each row and column shows what Fair value becomes when one assumption moves.

Ke ↓ / g →	2.0%	2.3%	2.5%	2.8%	3.0%
7.5%	$284	$291	$299	$307	$317
8.0%	$268	$274	$280	$287	$294
8.5%	$255	$259	$264	$270	$276
9.0%	$243	$247	$251	$256	$261
9.5%	$233	$236	$240	$243	$248

Scorecard

Published factor rows and weighted composite

Calendar

Next earnings

Upcoming earnings date and setup when available.

Upcoming

DateLoading

Window—

EPS estimate—

Revenue estimate—

Sector percentile context

Refreshed 2026-10-28 19:55 UTC

Forward P/E24.3

P25 n/aP50 n/aP75 n/a

Trailing P/E35.9

P25 n/aP50 n/aP75 n/a

ROE6.9

P25 n/aP50 n/aP75 n/a

ROIC8.1

P25 n/aP50 n/aP75 n/a

Benchmarks · 1M

All HUM indicators

Market & fundamental data

Available fields

276

Groups with data

Currency

USD

Showing 276 of 276 available metrics for this ticker.

Profile and market data

Ticker identity, listing, currency, market cap, and source dates.

Metric	Value
Amount currency	USD
CIK code	0000049071
Company name	Humana Inc.
Country	United States
Country code	US
CUSIP number	444859102
Earnings date	2026-11-06
Earnings time	bmo
Employees	67,060
Employees change	1,380
Employees growth	2.1%
Enterprise value	$57.3B
Exchange	NYSE
Financial currency	USD
Financial report date	2026-06-30
First seen	2026-05-09
Fiscal year end	December
Founded	1961
In index	SP500
Industry	Healthcare Plans
IPO date	1993-01-22
Is primary listing	Yes
Is SPAC	No
ISIN number	US4448591028
Last 10-K release date	2026-02-19
Last earnings date	2026-07-29
Last refreshed	2026-10-28
Last stock split date	1991-08-01
Last stock split type	Forward
Market cap	$49.4B
Market cap category	Large-Cap
Next earnings date	2026-11-06
Options	Yes
Price	$411.66
Price currency	USD
Sector	Healthcare
SIC code	6324
Stock price date	2026-10-28
Symbol	HUM
U.S. state	Kentucky
Website	https://www.humana.com

Valuation

Multiples, yields, enterprise-value ratios, and valuation checks.

Metric	Value
Adjusted P/E ratio	23.93x
Average P/E ratio (10Y)	21.43x
Average P/E ratio (3Y)	23.88x
Average P/E ratio (5Y)	22.18x
Earnings yield	2.57%
EV/Earnings	45.25x
EV/EBIT	17.27x
EV/EBITDA	16.1x
EV/FCF	29.7x
EV/Sales	0.4x
FCF / EV yield	3.37%
FCF yield	3.9%
Forward EV/Sales	0.35x
Forward P/E	33.44x
Forward P/S	0.3x
Graham number	195.23792
Graham upside	-53.14%
Industry forward P/E	15.1x
Industry P/E	21.51x
Lynch fair value	$52.94
Lynch upside	-87.29%
P/(FCF - SBC) ratio	29.39x
P/(OCF - SBC) ratio	21.83x
P/B ratio	2.59x
P/E ratio	38.88x
P/FCF ratio	25.67x
P/OCF ratio	19.7x
P/S ratio	0.34x
PEG ratio	1.62x
Price / tangible book value	6.63x
Price/EBITDA ratio	13.91x
Sector forward P/E	23.56x
Sector P/E	50.08x

Profitability

Margins, returns on capital, cash conversion, and quality metrics.

Metric	Value
EBIT margin	2.3%
EBITDA margin	2.47%
Effective tax rate	18.71%
FCF margin	1.34%
Gross margin	13.65%
Operating margin	2.3%
Pretax margin	1.09%
Profit margin	0.88%
Profit per employee	$19,072
Profitable quarters	2
Profitable years	26
Revenue per employee	$2.2M
ROA	3.9%
ROA (5Y)	5.16%
ROCE	9.8%
ROE	6.89%
ROE (5Y)	13.52%
ROIC	8.13%
ROIC (5Y)	10.28%
SBC / revenue	0.17%
Tax / revenue	0.2%

Growth

Revenue, earnings, cash-flow, and forward growth indicators.

Metric	Value
EPS growth	-18.81%
EPS growth (Q)	27.05%
EPS growth (QoQ)	-41.71%
EPS growth 10Y	4.99%
EPS growth 3Y	-26.62%
EPS growth 5Y	-10.95%
EPS growth quarters	1
EPS growth years	0
FCF growth	-20.09%
FCF growth (Q)	58.51%
FCF growth (QoQ)	61.87%
FCF growth 3Y	-45.65%
FCF growth 5Y	33.71%
Net income growth	-18.85%
Net income growth (Q)	27.34%
Net income growth (QoQ)	-41.48%
Net income growth 3Y	-27.66%
Net income growth 5Y	-12.42%
Net income growth quarters	1
Net income growth years	0
OCF growth	-13.4%
OCF growth (Q)	54.68%
OCF growth (QoQ)	56.78%
OCF growth 10Y	4.89%
OCF growth 3Y	-42.26%
OCF growth 5Y	9.39%
Revenue growth	18.33%
Revenue growth (Q)	26.18%
Revenue growth (QoQ)	3.07%
Revenue growth 10Y	10.33%
Revenue growth 3Y	13.85%
Revenue growth 5Y	12.61%
Revenue growth quarters	35
Revenue growth years	8

Financial statements

Income-statement and cash-flow amounts, totals and per share.

Metric	Value
Capital expenditures	$-590M
EBIT	$3.4B
EBITDA	$3.6B
EPS	$10.59
FCF per share	$16.23
Financing cash flow	$1.5B
Free cash flow	$1.9B
Free cash flow minus SBC	$1.7B
Gross profit	$19.9B
Income taxes	$298M
Investing cash flow	$-1.2B
Net borrowing	$2.1B
Net cash flow	$2.9B
Net income	$1.3B
Operating cash flow minus SBC	$2.3B
Operating income	$3.4B
Revenue	$145.7B
Stock-based compensation	$247M

Financial strength

Debt, cash, solvency, accounting-quality, and balance-sheet signals.

Metric	Value
Book value per share	$160.00
Debt / EBITDA	3.89
Debt / equity	0.76
Debt / FCF	7.56
Goodwill	$10.5B
Interest coverage	4.76
Net cash (debt)	$-7.9B
Net cash / market cap	-15.69%
Net debt / EBITDA	2.18
Net debt / equity	0.41
Net debt / FCF	4.03
Piotroski F-Score	6
Property, plant and equipment	$2.1B
Shareholders' equity	$19.3B
Tangible book value	$7.5B
Tangible book value per share	$62.86
Total assets	$57.2B
Total cash	$23.9B
Total debt	$14.7B
Total liabilities	$37.9B
WACC	7.33%

Liquidity

Current-asset coverage and working-capital efficiency metrics.

Metric	Value
Asset turnover	2.71
Current ratio	1.74
Net working capital	$12.8B
Quick ratio	1.29
Working capital	$17.1B

Dividends and buybacks

Dividend yield, payout, buybacks, and shareholder-yield indicators.

Metric	Value
Buyback yield / dilution	-0.08%
Dividend growth	0%
Dividend growth (10Y)	11.8%
Dividend growth (3Y)	0.94%
Dividend growth (5Y)	5.37%
Dividend growth years	0
Dividend payment date	2026-11-27
Dividend payment years	16
Dividend payout frequency	Quarterly
Dividend per share	$3.54
Dividend yield	0.85%
Ex-dividend date	2026-10-30
FCF payout ratio	21.81%
Last dividend	$0.89
Payout ratio	33.43%
Shareholder yield	0.77%

Performance and technicals

Returns, volatility, beta, momentum, RSI, and moving-average context.

Metric	Value
10Y price change	137.81%
10Y return CAGR	9.96%
10Y total return	158.4%
150-day SMA	$343.29
15Y price change	411.85%
15Y return CAGR	12.48%
15Y total return	483.97%
1D price change	-0.77%
1M price change	4.1%
1M total return	4.1%
1W price change	-3.07%
1W total return	-3.07%
1Y price change	41.7%
1Y return CAGR	43.28%
1Y total return	43.24%
20-day SMA	$413.78
200-day SMA	$306.93
20Y price change	530.5%
20Y return CAGR	10.4%
20Y total return	623.85%
3M price change	8.68%
3M total return	8.68%
3Y price change	-18.81%
3Y return CAGR	-5.63%
3Y total return	-15.96%
50-day SMA	$399.61
50-day SMA vs 200-day SMA	50over200
52-week high	$456.50
52-week high date	2026-10-09
52-week low	$163.11
52-week low date	2026-03-20
5Y price change	-9.68%
5Y return CAGR	-1.07%
5Y total return	-5.22%
6M price change	85.24%
6M total return	85.68%
All-time high	$571.30
All-time high date	2022-11-03
All-time low	$4.75
All-time low date	2000-06-16
Average true range (ATR)	$15.27
Average volume	1.6M
Beta (1Y)	1.37
Beta (2Y)	1.02
Beta (5Y)	0.74
Change from 52-week high	-9.82%
Change from 52-week low	152.38%
Change from all-time high	-27.49%
Change from all-time low	8,620.84%
Change from open	-1.4%
Day's gap	0.64%
Dollar volume	$297.2M
High price	$421.20
Low price	$411.66
Monthly RSI	61.52
Open price	$417.50
Position in 52-week range	0%
Premarket change	-0.21%
Premarket close	$414.85
Premarket price	$413.99
Previous close	$414.85
Price vs 150-day SMA	20.67%
Price vs 20-day SMA	0.11%
Price vs 200-day SMA	34.96%
Price vs 50-day SMA	3.66%
Relative volume	0.46
RSI	52.35
Sharpe ratio	0.92
Sharpe ratio (3Y)	-0.01
Sharpe ratio (5Y)	0.07
Sortino ratio	1.44
Sortino ratio (3Y)	0.11
Sortino ratio (5Y)	0.23
Volume	722K
Weekly RSI	63
YTD price change	61.73%
YTD total return	62.94%

Ownership and float

Institutional, insider, float, short-interest, and share-count fields.

Metric	Value
Float	119.8M
Float percentage	99.79%
Shares change (QoQ)	0.4%
Shares change (YoY)	0.08%
Shares held by insiders	0.1%
Shares held by institutions	101.5%
Shares outstanding	120.1M
Short % of float	2.33%
Short % of shares	2.32%
Short ratio	2.6 days

Deeper analysis on HUM

14 sections in the full report · jump straight to what you need

Forecast

Base and Bull forecast paths with report-date return framing.

→

Valuation

Fair-value bridge, DCF, owner earnings, and peer multiples.

→

Sensitivity

Cost-of-equity and terminal-growth stress table.

→

Risks

Kill scenarios, soft-pass flags, and downside catalysts.

→

Earnings

Next earnings setup and beat / inline / miss thresholds.

→

Position sizing

Entry, exit, conviction, and quarterly monitoring rules.

→

Financials

Revenue, margins, cash flow, and balance-sheet context.

→

Peers

Relative valuation and profitability against the cohort.

→

Moat

Economic-profit evidence and competitive advantage risk.

→

Industry cycle

Sector phase, capital cycle, and secular tailwinds.

→

Quote this valuation with its source: Fair value, Potential value and the price at analysis.

Frequently asked questions

About this HUM report

What is the latest published HUM stock rating?

Humana Inc. is shown with Sell in the latest published report, analyzed 2026-10-02. The hub links directly to the full analysis surface where the dated rating, fair-value bridge, risks, and scorecard are documented together.

Where can I read the full HUM analysis?

The full latest published report, analyzed 2026-10-02, lives at /stocks/HUM/analysis. The bare ticker page summarizes that read and links to each analysis tab; earlier editions remain under /analysis/archive.

What fair value is used for HUM?

The latest published report analyzed 2026-10-02 gives HUM a fair value of USD 264 and a potential value of USD 335. These are dated research outputs, not live market prices; review the valuation assumptions, sensitivity analysis, and material risks before making a decision.

How often is the HUM page updated?

The hub selects the latest published stock report regardless of age and displays its analysis date (2026-10-02). Separately sourced market data is labeled with its own recorded timestamp and is never inferred from the report.

SellHUM · Fair value $264-31.9%

Read full analysis →

Humana Inc. (HUM)

Our latest published analysis: HUM rated Sell

Price

Financial snapshot

Fair-value bridge

Latest news · HUM

Valuation

Profitability

Balance sheet

Trading

Base and Bull scenarios

Sensitivity: Ke × terminal growth

Scorecard

Next earnings

Sector percentile context

All HUM indicators

Profile and market data

Valuation

Profitability

Growth

Financial statements

Financial strength

Liquidity

Dividends and buybacks

Performance and technicals

Ownership and float

Deeper analysis on HUM

Frequently asked questions

등급 이력

Category	Score	Reading
Valuation	1.5
Management	7.5
Balance Sheet	7.0
Profitability	5.0
Revenue Growth	7.5
Risk Assessment	7.5
Competitive Moat	7.0
Earnings Quality	6.5
Capital Efficiency	3.5