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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 2.96% 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)$3.0BEps Diluted (TTM)$24.24
Latest FilingQ1 2026
Report Date2026-04-29
Market Cap$44.3B
P/E Ratio13.96
ROE18.22%

Operating Expenses

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Compensation and benefits—$49M$61M$83M—$51M
Impairment charges$200M—$32M—$96M—
Policyholder Benefits And Claims Incurred Net$25.4B$26.5B$27.6B$28B$28.7B$33.7B
Other operating expenses—$7M-$7M$27M—$21M
Selling, general and administrative$4.2B$3.4B$3.5B$4.1B$4.4B$4B

Earnings Per Share

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Basic earnings per share—$10.31$4.52$1.62—$9.85
Diluted earnings per share—$10.30$4.51$1.62—$9.83
Weighted-average shares, basic—120.7M120.5M120.3M—120.3M
Weighted-average shares, diluted—120.8M120.7M120.7M—120.7M

Other Income & Expense

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Income from equity method investments-$37M-$43M-$19M-$26M-$14M-$16M
Interest expense$164M$160M$157M$168M$146M$193M
Interest income$297M$264M$272M$338M$132M$262M
Net investment gains (losses)—$2M$11M$53M—-$1M
Other income (expense), net-$155M-$163M-$200M-$35M-$53M$34M

Income Before Tax

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Income before income taxes—$1.7B$741M$134M—$1.6B

Tax

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Income tax expense—$406M$179M-$86M—$395M

Net Income

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Net income attributable to noncontrolling interests—-$2M-$2M-$1M—-$2M
Net income—$1.2B$545M$195M—$1.2B
Preferred stock dividends—————$107M

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$297M$264M$272M$338M$132M$262M
Net investment income—$264M$272M$338M—$262M
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—$2B$1.1B$400M—$1.8B

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Adjustment For Amortization—$15M$15M$13M—$11M
Share-based compensation expense related to employee stock plans—$50M$60M$83M—$51M
Stock options excluded as their inclusion would be anti-dilutive (in shares)—1.8M791K450K—2.3M
Benefits, Losses and Expenses$29.8B$30.1B$31.3B$32.2B$33.3B$37.9B
Cash, Cash Equivalent, Restricted Cash, and Restricted Cash Equivalent, Period Increase (Decrease), Including Exchange Rate Effect and Discontinued Operation—$2B—$1.3B—$751M
Cash dividend per common share (in dollars per share)—$0.89$0.89$0.89—$0.89
Dividends declared (in dollars per share)—$0.89———$0.89
Comprehensive Income (Loss), Net of Tax, Attributable to Parent—$1.4B$630M$312M—$1.1B
Gross gains on investment securities—$5M$13M$54M—$2M
Debt And Equity Securities, Realized Loss—$3M$2M$1M—$3M
Depreciation$226M$200M$196M$191M$186M$183M
Depreciation and amortization classified as benefit expense—$33M$32M$30M—$31M
Dividends, Common Stock, Cash—$108M$107M$106M—$108M
Effective tax rates—$0.2$0.2-$0.8—$0.3
Fair Value, Measurement With Unobservable Inputs Reconciliation, Recurring Basis, Asset, Maturities—$2M———$0
Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Out Of Level3—$0———$14M
Purchases—$63M$8M$10M—$50M
Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Into Level3—$0———$14M
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Sales—$0$0$0—$23M
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements—$0$0$1M—$0
Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Gain Loss Included In Earnings1—$0$0$0—$0
Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Gain Loss Included In Other Comprehensive Income Loss—$3M—$7M—-$1M
Fair Value Of Assets Acquired$75M$0$2M$4M$85M$966M
Goodwill Additions—$0$2M$3M—$803M
Member co-share amounts and government subsidies—$3.2B$3.3B$3.7B—$4.3B
Change in book overdraft$47M-$33M-$72M—-$2M-$9M
Increase (Decrease) in Collateral Held under Securities Lending—$175M—$93M—-$55M
Increase (decrease) in contract liabilities and current deferred income—$5M$9M$0$91M-$87M
Benefits payable—$1B—-$971M—$2.7B
Increase (Decrease) in Other Operating Assets-$745M$686M$0$716M$799M$1.4B
Other liabilities—$193M$817M$307M$5M$452M
Changes in rebate factor payable—-$68M-$55M——$0
Increase Decrease In Receivables—$1.8B$45M-$1.8B—$1.9B
Changes in securities lending payable—$175M—$93M—-$55M
Interest Paid, Excluding Capitalized Interest, Operating Activity$168M$143M$150M$147M$188M$142M
Liabilities Assumed1$23M$0$1M$0$9M$55M
Current year—$17.6B$27.2B$28.6B—$23B
Liability for Unpaid Claims and Claims Adjustment Expense, Incurred Claims—$26.5B$27.6B$28B—$33.7B
Prior years—$7.9B$743M$320M—$8B
Maximum individual state general bond obligation as a percentage of total debt securities (as percent)—1.0%———1.0%
Cash Provided by (Used in) Financing Activity, Including Discontinued Operation-$2.3B$1.4B-$1.8B-$603M-$168M$2.1B
Cash Provided by (Used in) Investing Activity, Including Discontinued Operation-$63M$314M$347M$980M$632M-$2.6B
Cash Provided by (Used in) Operating Activity, Including Discontinued Operation—$331M$1.3B$971M—$1.3B
Net Income Loss Attributable To Noncontrolling Interest—-$2M-$2M-$1M—-$2M
Net Investment Income—$264M$272M$338M—$262M
Distribution to noncontrolling interest holders, net——-$5M——-$12M
Number of reportable segments—2.00———2.00
Other comprehensive income (loss)—$199M$85M$117M—-$98M
Other comprehensive income/(loss)—$199M$85M$117M—-$98M
Tax expense (benefit) of other comprehensive income (loss), reclassification adjustment from AOCI for sale of securities—$1M$0$11M—$0
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Net of Tax—$1M$5M$33M—$1M
Other Comprehensive Income Loss Reclassification Adjustment From AOCI For Sale Of Securities Before Tax—$2M$5M$44M—$1M
Tax expense (benefit) of unrealized gains/losses on available for sale securities still held—$58M$27M$45M—-$26M
Net unrealized gains (losses) on securities still held—$200M$90M$150M—-$97M
Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax—$258M$117M$195M—-$123M
Other income, net (Note 6)-$155M-$163M-$200M-$35M-$53M$34M
All other operating activities$32M$7M-$7M$27M-$27M$21M
Liability for Unpaid Claims and Claims Adjustment Expense, Claims Paid—$25.5B$28B$29B—$31B
Payments For (Proceeds From) Contract Deposits—$35M$544M$585M—-$673M
Payments for Repurchase of Common Stock$49M$9M$100M$0$42M$107M
Payments of Debt Issuance Costs—$3M$2M——$0
Payments of Dividends$108M$108M$106M$107M$109M$107M
Payments to Acquire Debt Securities, Available-for-Sale$2.1B$827M$1.1B$3.3B$1.2B$2.9B
Payments to Acquire Businesses, Net of Cash Acquired$52M$0$1M$4M$76M$911M
Payments to Acquire Property, Plant, and Equipment$154M$95M$114M$135M$202M$121M
Debt issued (Note 13)—$1.5B———$990M
Proceeds from Maturities, Prepayments and Calls of Debt Securities, Available-for-Sale$768M$889M$728M$531M$764M$923M
Financing — other-$8M-$12M-$50M-$14M-$5M-$18M
Net change in commercial paper-$12M-$4M-$1M——$693M
Sale of investments$1.6B$522M$721M$3.8B$1.4B$395M
Repayments of Long-Term Debt—$0———$10M
Stock-based compensation$54M$49M$61M$83M$48M$51M
Common shares acquired in connection with employee stock plans, amount—$9M—$1M—$5M
Common shares acquired in connection with employee stock plans (in shares)—30K———20K
Restricted stock acquisition consideration—$0$0$0—$0
Prior years—-$477M-$161M-$275M—-$389M
Current year—$27B$27.7B$28.3B—$34.1B
Tangible Asset Impairment Charges$108M$9M$5M$0$14M$2M
Treasury stock, value, acquired—$9M$100M$1M—$108M