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Humana Cash Flow Statement

Operating, investing, and financing cash movements

Humana generated $3.8B in operating cash flow over the trailing twelve months. After $572.0M in capital expenditures, free cash flow was $3.4B. Free cash flow decreased 0.2% year-over-year. Based on the Q1 2026 filing.

Net Cash From Operating$1.3BNet Cash From Investing (TTM)-$594.0MNet Cash From Financing (TTM)-$549.0MCapital Expenditures (TTM)$572.0MDepreciation And Amortization Cf (TTM)$756.0MNet Change In Cash (TTM)-$7.8B
Latest FilingQ1 2026
Report Date2026-04-29
Market Cap$44.3B
P/E Ratio13.96
ROE18.22%

Investing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Acquisitions, net of cash acquired$52M$0$1M$4M$76M$911M
Capital expenditures$154M$95M$114M$135M$202M$121M
Payment for (Proceeds from) Other Investing Activity$12.5M$0$0$0$0—
Proceeds from Maturities, Prepayments and Calls of Debt Securities, Available-for-Sale$768M$889M$728M$531M$764M$923M
Sale of investments$1.6B$522M$721M$3.8B$1.4B$395M
Proceeds from disposals of property, plant and equipment$1.8M$5.8M$5.8M$5.8M$5.8M—
Net cash from investing activities-$63M$314M$347M$980M$632M-$2.6B
Other investing activities$12.5M$0$0$0$0—
Proceeds from maturities/sales of investments$1.6B$522M$721M$3.8B$1.4B$395M
Proceeds from sale of property, plant and equipment$1.8M$5.8M$5.8M$5.8M$5.8M—
Purchases of investments$2.1B$827M$1.1B$3.3B$1.2B$2.9B

Operating

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Change in benefits payable—$1B-$391M-$971M-$121M$2.7B
Change in deferred revenue—$5M$9M$0$91M-$87M
Change in other assets-$745M$686M$0$716M$799M$1.4B
Change in other liabilities—$193M$817M$307M$5M$452M
Other working capital changes$32M$7M-$7M$27M-$27M$21M
Change in receivables$560M$1.8B$45M-$1.8B$586M$1.9B
Depreciation and amortization$226M$200M$196M$191M$186M$183M
Net gains (losses) on investments$14M$2M$11M$53M-$116M-$1M
Net cash from operating activities—$331M$1.3B$971M—$1.3B
Net income—$1.2B$543M$194M—$1.2B
Amortization$14M$15M$15M$13M$8M$11M
Depreciation$226M$200M$196M$191M$186M$183M
Equity in earnings (losses) of equity method investees-$37M-$43M-$19M-$26M-$14M-$16M
Increase (Decrease) in Other Operating Assets-$745M$686M$0$716M$799M$1.4B
Impairment of long-lived assets$108M$9M$5M$0$14M$2M
Stock-based compensation$54M$49M$61M$83M$48M$51M

Financing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Net change in commercial paper-$12M-$4M-$1M——$693M
Proceeds from issuance of debt—$1.5B———$990M
Repayments of debt$1.1B$0$771M$0$177M$10M
Dividends paid$108M$108M$106M$107M$109M$107M
Change in book overdraft$47M-$33M-$72M—-$2M-$9M
Changes in rebate factor payable$123M-$68M-$55M——$0
Changes in securities lending payable$57M$175M—$93M$79M-$55M
Payments For (Proceeds From) Contract Deposits$1.3B$35M$544M$585M$0-$673M
Payments Of Debt Issuance Costs—$3M$2M——$0
Other, net-$8M-$12M-$50M-$14M-$5M-$18M
Proceeds from (repayments of) short-term borrowings, net-$12M-$4M-$1M——$693M
Proceeds from issuance of commercial paper and other short-term borrowings$0$0$0$0$0—
Net cash from financing activities-$2.3B$1.4B-$1.8B-$603M-$168M$2.1B
Other financing activities-$8M-$12M-$50M-$14M-$5M-$18M
Payment of debt issuance costs—$3M$2M——$0
Repurchases of common stock$49M$9M$100M$0$42M$107M

Free Cash Flow

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Free cash flow—$236M$1.2B$836M—$1.1B

Supplemental

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Interest paid$168M$143M$150M$147M$188M$142M

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Net increase (decrease) in cash-$2.9B$2B—$1.3B—$751M