Income StatementBalance SheetCash FlowSegments
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Humana Income Statement

Revenue, expenses, and profitability over time

Humana generated $137.20B in trailing twelve-month revenue, up 0.1% year-over-year. Net income was $3.2B with a 2.31% net margin. Diluted EPS is $26.26, which grew 0.2% year-over-year. Based on the Q1 2026 filing.

Total Revenue (TTM)$137.20BOperating Income (TTM)$3.1BNet Income (TTM)$3.1BEps Diluted (TTM)$24.11
Latest FilingQ1 2026
Report Date2026-04-29
Market Cap$36.2B
P/E Ratio11.41
ROE17.45%

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Common Stock Dividends Per Share Declared—$0.9———$0.9
Common Stock Dividends Per Share (Paid)—$0.9$0.9$0.9—$0.9
Capital Expenditures$154.0M$95.0M$114.0M$135.0M$202.0M$121.0M
Change in Deferred Revenue—$5.0M$9.0M-$9.0M$91.0M-$87.0M
Change in Other Liabilities—$193.0M$817.0M$307.0M$5.0M$452.0M
OCI Reclassification Adjustment for Sale of Securities—$1.0M$5.0M$33.0M—$1.0M
Common Stock Dividends Per Share—$0.9———$0.9
Common stock dividends per share cash paid—$0.9$0.9$0.9—$0.9
Other Comprehensive Income (Loss), Net of Tax—$199.0M$85.0M$117.0M—-$98.0M
Dividends per share declared—$0.9———$0.9
Common Stock Dividends Per Share (Cash Paid)—$0.9$0.9$0.9—$0.9
OCI Available-for-Sale Securities Tax—$58.0M$27.0M$45.0M—-$26.0M
OCI Unrealized Holding Gain (Loss) on Securities, Net of Tax—$200.0M$90.0M$150.0M—-$97.0M
Unrealized Gain (Loss) on Securities—$258.0M$117.0M$195.0M—-$123.0M
Acquisitions, Net of Cash—$0.0$1.0M$4.0M—$911.0M
Net Change in Cash and Restricted Cash—$2.0B-$210.0M$1.3B—$751.0M
Common Dividends Per Share Paid—$0.9$0.9$0.9—$0.9
OCI Attributable to Parent—$199.0M$85.0M$117.0M—-$98.0M
Cash Dividend per Common Share—$0.9$0.9$0.9—$0.9
OCI Reclassification Adjustment for Sale of Securities, Before Tax—$2.0M$5.0M$44.0M—$1.0M
OCI Unrealized Investment Gains (Losses), Before Tax—$258.0M$117.0M$195.0M—-$123.0M
Number of reportable segments—2.000.000.00—2.00
Other comprehensive income (loss), after-tax—$199.0M$85.0M$117.0M—-$98.0M
Payments to acquire available-for-sale debt securities—$827.0M$1.1B$3.3B—$2.9B
Dividends per share declared—$0.9———$0.9
Common Stock Dividends Per Share Declared—$0.9———$0.9
Interest Paid, Net$168.0M$143.0M$150.0M$147.0M$188.0M$142.0M
OCI Reclassification Adjustment, Sale of Securities, Net of Tax—$1.0M$5.0M$33.0M—$1.0M
OCI Unrealized Holding Gain (Loss) on Securities, Before Tax—$258.0M$117.0M$195.0M—-$123.0M
OCI Unrealized Holding Gain (Loss) on Securities, Net of Tax—$200.0M$90.0M$150.0M—-$97.0M
OCI Unrealized Holding Gain (Loss) on Securities, Tax—$58.0M$27.0M$45.0M—-$26.0M
Tax Benefit of Reclassification for Sale of Securities—$1.0M$0.0$11.0M—$0.0
Tax effect of unrealized gain (loss) on AFS securities—$58.0M$27.0M$45.0M—-$26.0M
Share-based compensation expense related to employee stock plans—$50.0M$60.0M$83.0M—$51.0M
Stock options excluded as their inclusion would be anti-dilutive (in shares)—$1.8M$791.0K$450.0K—$2.3M
Benefits, Losses and Expenses$29.8B$30.1B$31.3B$32.2B$33.3B$37.9B
Cash dividend per common share (in dollars per share)—$0.9$0.9$0.9—$0.9
Dividends declared (in dollars per share)—$0.9———$0.9
Comprehensive Income (Loss), Net of Tax, Attributable to Parent—$1.4B$630.0M$312.0M—$1.1B
Gross gains on investment securities—$5.0M$13.0M$54.0M—$2.0M
Debt And Equity Securities, Realized Loss—$3.0M$2.0M$1.0M—$3.0M
Depreciation$226.0M$200.0M$196.0M$191.0M$186.0M$183.0M
Depreciation and amortization classified as benefit expense—$33.0M$32.0M$30.0M—$31.0M
Dividends—————$107.0M
Dividends, Common Stock, Cash—$108.0M$107.0M$106.0M—$108.0M
Effective tax rates—$0.2$0.2-$0.8—$0.3
Fair Value, Measurement With Unobservable Inputs Reconciliation, Recurring Basis, Asset, Maturities—$2.0M$0.0$0.0—$0.0
Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Out Of Level3—$0.0———$14.0M
Purchases—$63.0M$8.0M$10.0M—$50.0M
Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Into Level3—$0.0———$14.0M
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Sales—$0.0$0.0$0.0—$23.0M
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements—$0.0$0.0$1.0M—$0.0
Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Gain Loss Included In Earnings1—$0.0$0.0$0.0—$0.0
Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Gain Loss Included In Other Comprehensive Income Loss—$3.0M$0.0$7.0M—-$1.0M
Fair Value Of Assets Acquired$75.0M$0.0$2.0M$4.0M$85.0M$966.0M
Goodwill Additions—$0.0$2.0M$3.0M—$803.0M
Member co-share amounts and government subsidies—$3.2B$3.3B$3.7B—$4.3B
Change in book overdraft$47.0M-$33.0M-$72.0M$10.0M-$2.0M-$9.0M
Increase (Decrease) in Collateral Held under Securities Lending—$175.0M-$127.0M$93.0M—-$55.0M
Increase (decrease) in contract liabilities and current deferred income—$5.0M$9.0M-$9.0M$91.0M-$87.0M
Benefits payable—$1.0B-$391.0M-$971.0M—$2.7B
Increase (Decrease) in Other Operating Assets-$745.0M$686.0M-$28.0M$716.0M$799.0M$1.4B
Other liabilities—$193.0M$817.0M$307.0M$5.0M$452.0M
Changes in rebate factor payable—-$68.0M-$55.0M$0.0—$0.0
Changes in securities lending payable—$175.0M-$127.0M$93.0M—-$55.0M
Interest Expense Nonoperating$164.0M$160.0M$157.0M$168.0M$146.0M$193.0M
Interest Paid, Excluding Capitalized Interest, Operating Activity$168.0M$143.0M$150.0M$147.0M$188.0M$142.0M
Liabilities Assumed1$23.0M$0.0$1.0M$0.0$9.0M$55.0M
Current year—$17.6B$27.2B$28.6B—$23.0B
Liability for Unpaid Claims and Claims Adjustment Expense, Incurred Claims—$26.5B$27.6B$28.0B—$33.7B
Prior years—$7.9B$743.0M$320.0M—$8.0B
Maximum individual state general bond obligation as a percentage of total debt securities (as percent)—1.0%0.0%0.0%—1.0%
Cash Provided by (Used in) Financing Activity, Including Discontinued Operation-$2.3B$1.4B-$1.8B-$603.0M-$168.0M$2.1B
Cash Provided by (Used in) Investing Activity, Including Discontinued Operation-$63.0M$314.0M$347.0M$980.0M$632.0M-$2.6B
Cash Provided by (Used in) Operating Activity, Including Discontinued Operation—$331.0M$1.3B$971.0M—$1.3B
Net Income Loss Attributable To Noncontrolling Interest—-$2.0M-$2.0M-$1.0M—-$2.0M
Net Investment Income—$264.0M$272.0M$338.0M—$262.0M
Distribution to noncontrolling interest holders, net——-$5.0M——-$12.0M
Number of reportable segments—$2.0$0.0$0.0—$2.0
Other comprehensive income (loss)—$199.0M$85.0M$117.0M—-$98.0M
Other comprehensive income/(loss)—$199.0M$85.0M$117.0M—-$98.0M
Tax expense (benefit) of other comprehensive income (loss), reclassification adjustment from AOCI for sale of securities—$1.0M$0.0$11.0M—$0.0
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Net of Tax—$1.0M$5.0M$33.0M—$1.0M
Tax expense (benefit) of unrealized gains/losses on available for sale securities still held—$58.0M$27.0M$45.0M—-$26.0M
Net unrealized gains (losses) on securities still held—$200.0M$90.0M$150.0M—-$97.0M
Other income, net (Note 6)-$155.0M-$163.0M-$200.0M-$35.0M-$53.0M$34.0M
All other operating activities$32.0M$7.0M-$7.0M$27.0M-$27.0M$21.0M
Liability for Unpaid Claims and Claims Adjustment Expense, Claims Paid—$25.5B$28.0B$29.0B—$31.0B
Payments For (Proceeds From) Contract Deposits—$35.0M$544.0M$585.0M—-$673.0M
Payments for Repurchase of Common Stock$49.0M$9.0M$100.0M$0.0$42.0M$107.0M
Payments of Debt Issuance Costs$0.0$3.0M$2.0M$0.0$0.0$0.0
Payments of Dividends$108.0M$108.0M$106.0M$107.0M$109.0M$107.0M
Payments to Acquire Debt Securities, Available-for-Sale$2.1B$827.0M$1.1B$3.3B$1.2B$2.9B
Payments to Acquire Businesses, Net of Cash Acquired$52.0M$0.0$1.0M$4.0M$76.0M$911.0M
Payments to Acquire Property, Plant, and Equipment$154.0M$95.0M$114.0M$135.0M$202.0M$121.0M
Debt issued (Note 13)—$1.5B———$990.0M
Proceeds from Maturities, Prepayments and Calls of Debt Securities, Available-for-Sale$768.0M$889.0M$728.0M$531.0M$764.0M$923.0M
Financing — other-$8.0M-$12.0M-$50.0M-$14.0M-$5.0M-$18.0M
Net change in commercial paper-$12.0M-$4.0M-$1.0M$0.0$0.0$693.0M
Sale of investments$1.6B$522.0M$721.0M$3.8B$1.4B$395.0M
Repayments of Long-Term Debt—$0.0———$10.0M
Stock-based compensation$54.0M$49.0M$61.0M$83.0M$48.0M$51.0M
Common shares acquired in connection with employee stock plans, amount—$9.0M$0.0$1.0M—$5.0M
Common shares acquired in connection with employee stock plans (in shares)—30K10K0—20K
Restricted stock acquisition consideration—$0.0$0.0$0.0—$0.0
Prior years—-$477.0M-$161.0M-$275.0M—-$389.0M
Current year—$27.0B$27.7B$28.3B—$34.1B
Tangible Asset Impairment Charges$108.0M$9.0M$5.0M$0.0$14.0M$2.0M
Treasury stock, value, acquired—$9.0M$100.0M$1.0M—$108.0M
OCI Available-for-Sale Debt Securities, Before Tax—$258.0M$117.0M$195.0M—-$123.0M
OCI Reclassification for Sale of Securities, Before Tax—$2.0M$5.0M$44.0M—$1.0M
Unrealized Gain (Loss) on Available-for-Sale Securities, Net—$58.0M$27.0M$45.0M—-$26.0M
Tax on Unrealized Gain (Loss) on Securities—$58.0M$27.0M$45.0M—-$26.0M
Other Comprehensive Income (Loss)—$1.4B$630.0M$312.0M—$1.1B
Common Stock Dividends Per Share Declared—$0.9———$0.9
Other Comprehensive Income (Loss), Net of Tax, Attributable to Parent—$199.0M$85.0M$117.0M—-$98.0M
Common Stock Dividends Per Share Declared—$0.9———$0.9
OCI Net of Tax, Parent—$199.0M$85.0M$117.0M—-$98.0M
Cash Dividends Paid—$108.0M$106.0M$107.0M—$107.0M
OCI Attributable to Parent—$199.0M$85.0M$117.0M—-$98.0M
Stock Repurchased During Period, Value—$9.0M$100.0M$0.0—$107.0M

Earnings Per Share

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Common Stock Dividends Per Share Declared—$0.9———$0.9
Common Stock Dividends Per Share (Declared)—$0.9———$0.9
Common stock dividends per share cash paid—$0.9$0.9$0.9—$0.9
Dividends Per Share, Cash Paid—$0.9$0.9$0.9—$0.9
Common Stock Dividends Per Share Cash Paid—$0.9$0.9$0.9—$0.9
Common Stock Dividends Per Share Declared—$0.9———$0.9
Basic earnings per share—$10.31$4.52$1.62—$9.85
Diluted earnings per share—$10.30$4.51$1.62—$9.83
Common Stock Dividends Per Share Declared—$0.9———$0.9
Dividends Per Share Declared—$0.9———$0.9
Common Stock Dividends Per Share Declared—$0.9———$0.9
Common Stock Dividends Per Share Declared—$0.9———$0.9
Common stock dividends per share declared—$0.9———$0.9
Dividends Per Share Declared—$0.9———$0.9
Common Stock Dividends Per Share (Cash Paid)—$0.9$0.9$0.9—$0.9
Dividends per share declared—$0.9———$0.9
Antidilutive Securities Excluded from EPS—1.8M791K450K—2.3M
Common Stock Dividends Per Share Declared—$0.9———$0.9
Dividends per share declared—$0.9———$0.9
Dividends per share declared—$0.9———$0.9
Dividends per Share Declared—$0.9———$0.9
Dividends per share declared—$0.89———$0.89
Dividends per common share—$0.9$0.9$0.9—$0.9
Dividends per share, cash paid—$0.89$0.89$0.89—$0.89
Dividends Per Share (Paid)—$0.9$0.9$0.9—$0.9
Common Stock Dividends Per Share Declared—$0.9———$0.9
Common Stock Dividends Per Share (Cash Paid)—$0.9$0.9$0.9—$0.9
Common stock dividends per share cash paid—$0.9$0.9$0.9—$0.9
Common Stock Dividends Per Share Declared—$0.9———$0.9
Common stock dividends per share cash paid—$0.9$0.9$0.9—$0.9
Common stock dividends per share declared—$0.9———$0.9
Common Stock Dividends Per Share Declared—$0.9———$0.9
Common Stock Dividends Per Share Declared—$0.9———$0.9
Common stock dividends per share declared—$0.9———$0.9
Weighted-average shares, basic—120.7M120.5M120.3M—120.3M
Weighted-average shares, diluted—120.8M120.7M120.7M—120.7M

Operating Expenses

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Stock-Based Compensation Expense$54.0M$49.0M$61.0M$83.0M$48.0M$51.0M
Share-Based Compensation Expense$54.0M$49.0M$61.0M$83.0M$48.0M$51.0M
Compensation and benefits—$49.0M$61.0M$83.0M—$51.0M
Adjustment for Amortization$14.0M$15.0M$15.0M$13.0M$8.0M$11.0M
Amortization Expense$14.0M$15.0M$15.0M$13.0M$8.0M$11.0M
Impairment charges$200.0M—$32.0M———
Other Segment Items-$155.0M-$163.0M-$200.0M-$35.0M-$53.0M$34.0M
Stock-based compensation expense$54.0M$49.0M$61.0M$83.0M$48.0M$51.0M
Other operating expenses—$7.0M-$7.0M$27.0M—$21.0M
Selling, general and administrative$4.2B$3.4B$3.5B$4.1B$4.4B$4.0B
Share-Based Compensation$54.0M$49.0M$61.0M$83.0M$48.0M$51.0M

Tax

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Effective Tax Rate (Continuing Operations)—$0.2$0.2-$0.8—$0.3
Effective Tax Rate—$0.2$0.2-$0.8—$0.3
Effective Tax Rate, Continuing Operations—$0.2$0.2-$0.8—$0.3
Effective Income Tax Rate, Continuing Operations—$0.2$0.2-$0.8—$0.3
Effective Tax Rate—$0.2$0.2-$0.8—$0.3
Effective Tax Rate (Continuing Operations)—$0.2$0.2-$0.8—$0.3
Income tax expense—$406.0M$179.0M-$86.0M—$395.0M
Effective Tax Rate (Continuing Operations)—$0.2$0.2-$0.8—$0.3
Effective Tax Rate (Continuing Operations)—$0.2$0.2-$0.8—$0.3
Effective Income Tax Rate—$0.2$0.2-$0.8—$0.3
Effective Tax Rate, Continuing Operations—$0.2$0.2-$0.8—$0.3
Effective Tax Rate Continuing Operations—$0.2$0.2-$0.8—$0.3

Other Income & Expense

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Cash Paid for Interest$168.0M$143.0M$150.0M$147.0M$188.0M$142.0M
Gain (loss) on debt and equity securities$14.0M$2.0M$11.0M$53.0M-$116.0M-$1.0M
Investment Income, Interest and Dividend$297.0M$264.0M$272.0M$338.0M$132.0M$262.0M
Income from equity method investments-$37.0M-$43.0M-$19.0M-$26.0M-$14.0M-$16.0M
Investment Income, Interest and Dividend$297.0M$264.0M$272.0M$338.0M$132.0M$262.0M
Other Charges-$155.0M-$163.0M-$200.0M-$35.0M-$53.0M$34.0M
Interest expense$164.0M$160.0M$157.0M$168.0M$146.0M$193.0M
Interest income$297.0M$264.0M$272.0M$338.0M$132.0M$262.0M
Net investment gains (losses)—$2.0M$11.0M$53.0M—-$1.0M
Change in Receivables$560.0M$1.8B$45.0M-$1.8B$586.0M$1.9B
Other income (expense), net-$155.0M-$163.0M-$200.0M-$35.0M-$53.0M$34.0M

Net Income

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Common Dividends Declared (Per Share)—$0.9———$0.9
Cash Dividends, Common Stock—$108.0M$107.0M$106.0M—$108.0M
Net income attributable to noncontrolling interests—-$2.0M-$2.0M-$1.0M—-$2.0M
OCI Attributable to Parent—$199.0M$85.0M$117.0M—-$98.0M
Net income—$1.2B$545.0M$195.0M—$1.2B
Preferred stock dividends—————$107.0M

Income Before Tax

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Income before income taxes—$1.7B$741.0M$134.0M—$1.6B

Revenue

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Net premiums earned$27.8B$30.5B$30.7B$30.7B$30.9B$37.7B
Investment and other income$297.0M$264.0M$272.0M$338.0M$132.0M$262.0M
Net investment income—$264.0M$272.0M$338.0M—$262.0M
Total revenue$29.2B$32.1B$32.4B$32.6B$32.5B$39.6B

Operating Income

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Operating income—$2.0B$1.1B$400.0M—$1.8B

Cost of Revenue

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Medical costs$25.4B$26.5B$27.6B$28.0B$28.7B$33.7B