Cash flow Humana Inc.

Equities

HUM

US4448591028

Managed Healthcare

Market Closed - Nyse Other stock markets 01:30:02 20/09/2024 am IST			5-day change	1st Jan Change
312.00 ^USD	-1.04%		-3.85%	-31.85%

17/09	Express Scripts sues FTC over drug pricing report, court documents show	RE
05/09	RBC Raises Price Target on Humana to $400 From $385, Maintains Outperform Rating	MT

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Published financial data: HUMANA INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Premiums and Annuity Revenues	6.29TCr	7.42TCr	7.98TCr	8.77TCr	10TCr
Total Interest And Dividend Income	44Cr	32Cr	32Cr	59Cr	112.3Cr
Gain (Loss) on Sale of Investments, Total (Rev)	6.2Cr	84Cr	100Cr	-20Cr	-5.4Cr
Other Revenues, Total	143.9Cr	181.5Cr	305.5Cr	477.6Cr	403.3Cr
Total Revenues	6.49TCr	7.72TCr	8.42TCr	9.29TCr	11TCr
Policy Benefits	5.39TCr	6.16TCr	6.92TCr	7.57TCr	8.84TCr
Depreciation & Amortization - (IS) - (Collected)	46Cr	49Cr	60Cr	71Cr	78Cr
Selling General & Admin Expenses, Total	733.4Cr	1.01TCr	1.01TCr	1.22TCr	1.26TCr
Total Operating Expenses	6.16TCr	7.22TCr	7.99TCr	8.86TCr	10TCr
Operating Income	323.9Cr	498.6Cr	427.7Cr	427.3Cr	457.4Cr
Interest Expense, Total	-24Cr	-28Cr	-33Cr	-40Cr	-49Cr
Income (Loss) on Equity Invest.	1.4Cr	7.4Cr	6.5Cr	-40L	-6.3Cr
Other Non Operating Income (Expenses)	51Cr	-10Cr	-60Cr	-6.8Cr	-14Cr
EBT, Excl. Unusual Items	351.7Cr	467.4Cr	341.9Cr	380Cr	388.1Cr
Restructuring Charges	-4.7Cr	-	-	-47Cr	-51Cr
Total Merger & Related Restructuring Charges	-	-	-	-	-
Gain (Loss) on Sale of Assets	-	-	-	24Cr	-
Asset Writedown	-	-	-	-	-5.5Cr
EBT, Incl. Unusual Items	347Cr	467.4Cr	341.9Cr	356.4Cr	332Cr
Income Tax Expense	76Cr	130.7Cr	48Cr	76Cr	84Cr
Earnings From Continuing Operations	270.7Cr	336.7Cr	293.4Cr	280.2Cr	248.4Cr
Net Income to Company	270.7Cr	336.7Cr	293.4Cr	280.2Cr	248.4Cr
Minority Interest	-	-	-10L	40L	50L
Net Income - (IS)	270.7Cr	336.7Cr	293.3Cr	280.6Cr	248.9Cr
Net Income to Common Incl Extra Items	270.7Cr	336.7Cr	293.3Cr	280.6Cr	248.9Cr
Net Income to Common Excl. Extra Items	270.7Cr	336.7Cr	293.3Cr	280.6Cr	248.9Cr
Per Share Items
Net EPS - Basic	20.19	25.47	22.79	22.2	20.09
Basic EPS - Continuing Operations	20.19	25.47	22.79	22.2	20.09
Basic Weighted Average Shares Outstanding	13Cr	13Cr	13Cr	13Cr	12Cr
Net EPS - Diluted	20.1	25.31	22.67	22.08	20
Diluted EPS - Continuing Operations	20.1	25.31	22.67	22.08	20
Diluted Weighted Average Shares Outstanding	13Cr	13Cr	13Cr	13Cr	12Cr
Normalized Basic EPS	16.4	22.1	16.6	18.82	19.62
Normalized Diluted EPS	16.32	21.96	16.51	18.72	19.53
Dividend Per Share	2.2	2.5	2.8	3.15	3.54
Payout Ratio	10.75	9.59	12.07	13.97	21.33
American Depositary Receipts Ratio (ADR)	0.02	0.02	0.02	0.02	0.02
Supplemental Items
EBITDA	347.1Cr	525.1Cr	454.7Cr	459.3Cr	490.2Cr
EBITA	330.9Cr	507.4Cr	435Cr	436.9Cr	464.1Cr
EBIT	323.9Cr	498.6Cr	427.7Cr	427.3Cr	457.4Cr
EBITDAR	366.2Cr	544.8Cr	475.7Cr	482.5Cr	510.1Cr
Total Revenues (As Reported)	6.49TCr	7.72TCr	8.31TCr	9.29TCr	11TCr
Effective Tax Rate - (Ratio)	21.99	27.96	14.19	21.38	25.18
Current Domestic Taxes	60Cr	111.2Cr	47Cr	86Cr	100Cr
Total Current Taxes	60Cr	111.2Cr	47Cr	86Cr	100Cr
Deferred Domestic Taxes	-	-	-	-	-
Total Deferred Taxes	16Cr	20Cr	1.5Cr	-10Cr	-16Cr
Normalized Net Income	219.81Cr	292.12Cr	213.59Cr	237.9Cr	243.06Cr
Interest on Long-Term Debt	-	-	-	-	-
Supplemental Operating Expense Items
Net Rental Expense, Total	19Cr	20Cr	21Cr	23Cr	20Cr
Imputed Operating Lease Interest Expense	5.88Cr	6.46Cr	5.21Cr	5.82Cr	6.37Cr
Imputed Operating Lease Depreciation	13Cr	13Cr	16Cr	17Cr	14Cr
Stock-Based Comp., Other (Total)	16Cr	18Cr	18Cr	22Cr	18Cr
Total Stock-Based Compensation	16Cr	18Cr	18Cr	22Cr	18Cr

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Investment In Debt Securities	-	-	-	-	-
Investment In Equity and Preferred Securities, Total	106.3Cr	117Cr	14Cr	75Cr	74Cr
Total Other Investments	1.14TCr	1.38TCr	1.4TCr	1.43TCr	1.7TCr
Total investments	1.24TCr	1.49TCr	1.41TCr	1.5TCr	1.77TCr
Cash And Equivalents	405.4Cr	467.3Cr	339.4Cr	506.1Cr	469.4Cr
Reinsurance Recoverable - (IS)	58Cr	142Cr	189.4Cr	70Cr	51Cr
Other Receivables - (Insurance Template)	235.6Cr	253.8Cr	381.4Cr	367.4Cr	433.5Cr
Deferred Policy Acquisition Costs - (BS)	-	-	-	-	-
Gross Property Plant And Equipment	502.5Cr	593.1Cr	662.5Cr	687.2Cr	639.4Cr
Accumulated Depreciation	-266Cr	-312.3Cr	-287.4Cr	-313.6Cr	-285.4Cr
Net Property Plant And Equipment	236.5Cr	280.8Cr	375.1Cr	373.6Cr	354Cr
Goodwill	392.8Cr	444.7Cr	1.11TCr	914.2Cr	955Cr
Other Intangibles, Total	18Cr	33Cr	263.9Cr	176.5Cr	169.3Cr
Deferred Tax Assets Current	-	-	-	-	-
Other Current Assets, Total	192.1Cr	245.6Cr	259.9Cr	287.1Cr	381.7Cr
Deferred Tax Assets Long-Term (Collected)	-	-	-	-	-
Other Long-Term Assets, Total	124.7Cr	136.2Cr	106.2Cr	110Cr	117.4Cr
Total Assets	2.91TCr	3.5TCr	4.44TCr	4.31TCr	4.71TCr
Liabilities
Accounts Payable, Total	313.6Cr	359.2Cr	379Cr	368.4Cr	436.3Cr
Insurance And Annuity Liabilities	77Cr	38Cr	73Cr	148Cr	213.4Cr
Unpaid Claims	600.4Cr	814.3Cr	828.9Cr	926.4Cr	1.02TCr
Unearned Premiums	25Cr	32Cr	25Cr	29Cr	27Cr
Current Portion of Long-Term Debt	40Cr	-	100Cr	149.7Cr	57Cr
Current Portion of Leases	12Cr	13Cr	18Cr	15Cr	15Cr
Short-Term Borrowings	52Cr	92Cr	128.1Cr	89Cr	122.4Cr
Long-Term Debt	496.7Cr	606Cr	1.05TCr	903.4Cr	1.02TCr
Long-Term Leases	33Cr	36Cr	55Cr	46Cr	44Cr
Deferred Tax Liability Non-Current	34Cr	66Cr	70Cr	2.7Cr	4.8Cr
Other Non Current Liabilities	20Cr	68Cr	94Cr	91Cr	109.3Cr
Total Liabilities	1.7TCr	2.12TCr	2.83TCr	2.77TCr	3.07TCr
Common Stock, Total	3.3Cr	3.3Cr	3.3Cr	3.3Cr	3.3Cr
Additional Paid In Capital	282Cr	270.5Cr	308.2Cr	324.6Cr	334.6Cr
Retained Earnings	1.75TCr	2.05TCr	2.31TCr	2.55TCr	2.75TCr
Treasury Stock	-845.5Cr	-991.8Cr	-1.02TCr	-1.22TCr	-1.37TCr
Comprehensive Income and Other	16Cr	39Cr	4.2Cr	-130.4Cr	-100Cr
Total Common Equity	1.2TCr	1.37TCr	1.61TCr	1.53TCr	1.63TCr
Minority Interest	-	-	2.3Cr	5.9Cr	5.6Cr
Total Equity	1.2TCr	1.37TCr	1.61TCr	1.54TCr	1.63TCr
Total Liabilities And Equity	2.91TCr	3.5TCr	4.44TCr	4.31TCr	4.71TCr
Supplemental Items
ECS Total Shares Outstanding on Filing Date	13Cr	13Cr	13Cr	12Cr	12Cr
ECS Total Common Shares Outstanding	13Cr	13Cr	13Cr	12Cr	12Cr
Book Value / Share	91.12	106.53	124.84	122.51	133.05
Tangible Book Value	793.2Cr	895.2Cr	234.9Cr	440.4Cr	501.9Cr
Tangible Book Value Per Share	60.04	69.47	18.24	35.24	41.06
Total Debt	633.9Cr	746.4Cr	1.36TCr	1.2TCr	1.26TCr
Net Debt	228.5Cr	279.1Cr	1.02TCr	697.1Cr	790.8Cr
Debt Equivalent Oper. Leases	152.8Cr	157.6Cr	168Cr	185.6Cr	159.2Cr
Minority Interest, Total (Incl. Fin. Div)	-	-	2.3Cr	5.9Cr	5.6Cr
Equity Method Investments, Total	106.3Cr	117Cr	14Cr	75Cr	74Cr
Account Code - Inventory Valuation	3	3	3	3	3
Land - (BS)	2Cr	1.9Cr	1.7Cr	1.7Cr	1.6Cr
Buildings, Total	87Cr	95Cr	112.6Cr	114.3Cr	100.2Cr
Machinery, Total	92Cr	100.9Cr	114.8Cr	124.6Cr	132Cr
Full Time Employees	46T	48.7T	95.5T	67.1T	67.6T

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	270.7Cr	336.7Cr	293.3Cr	280.6Cr	248.9Cr
Depreciation, Depletion & Amortization	16Cr	18Cr	20Cr	22Cr	26Cr
Amortization of Goodwill and Intangible Assets - (CF)	7Cr	8.8Cr	7.3Cr	9.6Cr	6.7Cr
Total Depreciation, Depletion & Amortization	23Cr	26Cr	27Cr	32Cr	33Cr
Amortization of Deferred Charges, Total	34Cr	35Cr	44Cr	52Cr	59Cr
(Gain) Loss On Sale of Asset - (CF)	-	-	-	-24Cr	-
(Gain) Loss on Sale of Investments - (CF)	-6.2Cr	-84Cr	13Cr	20Cr	5.4Cr
Total Asset Writedown	-	-	-	25Cr	21Cr
(Income) Loss On Equity Investments - (CF)	-1.4Cr	-7.4Cr	-119.4Cr	40L	6.3Cr
Stock-Based Compensation (CF)	16Cr	18Cr	18Cr	22Cr	23Cr
Provision and Write-off of Bad Debts	-	-	-	-	-
Change in Accounts Receivable	-3.2Cr	-8.5Cr	-28Cr	-5.4Cr	-34Cr
Change in Unearned Revenues	-3.6Cr	7.1Cr	-6.5Cr	3.2Cr	-2Cr
Change in insurance Reserves / Liabilities	114.2Cr	213.9Cr	10Cr	98Cr	92Cr
Change in Other Net Operating Assets (Collected)	59Cr	1.8Cr	-32Cr	-42Cr	-48Cr
Other Operating Activities	25Cr	24Cr	5.6Cr	-3.4Cr	-5.9Cr
Cash from Operations	528.4Cr	563.9Cr	226.2Cr	458.7Cr	398.1Cr
Capital Expenditure	-74Cr	-96Cr	-131.6Cr	-112Cr	-100.4Cr
Sale of Property, Plant, and Equipment	-	-	-	-	21Cr
Cash Acquisitions	-	-71Cr	-418.7Cr	-34Cr	-23Cr
Divestitures	-	-	-	270.1Cr	-
Investment in Marketable and Equity Securities, Total	-54Cr	-139.2Cr	-105.3Cr	-225Cr	-246.5Cr
Cash from Investing	-127.8Cr	-306.5Cr	-655.6Cr	-100.6Cr	-349.2Cr
Short Term Debt Issued, Total	5.4Cr	39Cr	36Cr	-	37Cr
Long-Term Debt Issued, Total	99Cr	208.8Cr	548.4Cr	198.2Cr	254.4Cr
Total Debt Issued	104.1Cr	247.8Cr	584.2Cr	198.2Cr	291Cr
Short Term Debt Repaid, Total	-101Cr	-	-	-40Cr	-
Long-Term Debt Repaid, Total	-40Cr	-140Cr	-207.8Cr	-300Cr	-233.2Cr
Total Debt Repaid	-141Cr	-140Cr	-207.8Cr	-340.4Cr	-233.2Cr
Issuance of Common Stock	5.8Cr	4.9Cr	2.1Cr	-	-
Repurchase of Common Stock	-107Cr	-182Cr	-7.9Cr	-209.6Cr	-157.3Cr
Common Dividends Paid	-29Cr	-32Cr	-35Cr	-39Cr	-53Cr
Common & Preferred Stock Dividends Paid	-29Cr	-32Cr	-35Cr	-39Cr	-53Cr
Annuity Receipts	-	-	-	-	-
Annuity Payments	-62Cr	-94Cr	-31Cr	199.3Cr	83Cr
Other Financing Activities, Total	-	-	-3.1Cr	30L	-16Cr
Cash from Financing	-229.5Cr	-195.5Cr	301.5Cr	-191.4Cr	-86Cr
Net Change in Cash	171.1Cr	62Cr	-127.9Cr	166.7Cr	-37Cr
Supplemental Items
Cash Interest Paid	21Cr	26Cr	28Cr	35Cr	39Cr
Cash Income Tax Paid (Refund)	52Cr	113.2Cr	23Cr	76Cr	100Cr
Net Debt Issued / Repaid	-37Cr	107.8Cr	376.4Cr	-142.2Cr	58Cr
Levered Free Cash Flow	232.31Cr	209.44Cr	3.74Cr	450.7Cr	76Cr
Unlevered Free Cash Flow	247.44Cr	227.12Cr	24Cr	475.76Cr	106.78Cr
Change In Net Working Capital	-45Cr	68Cr	200.9Cr	-214.6Cr	187.9Cr

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	7.43	9.73	6.74	6.11	6.34
Return on Total Capital	11.64	15.75	10.51	9.36	10.15
Return On Equity %	24.39	26.14	19.67	17.81	15.68
Return on Common Equity	24.39	26.14	19.68	17.88	15.77
Margin Analysis
Gross Profit Margin %	17	20.12	17.81	18.5	16.9
SG&A Margin	11.3	13.03	12.02	13.13	11.87
EBITDA Margin %	5.35	6.81	5.4	4.95	4.61
EBITA Margin %	5.1	6.58	5.17	4.7	4.36
EBIT Margin %	4.99	6.46	5.08	4.6	4.3
Income From Continuing Operations Margin %	4.17	4.36	3.48	3.02	2.34
Net Income Margin %	4.17	4.36	3.48	3.02	2.34
Net Avail. For Common Margin %	4.17	4.36	3.48	3.02	2.34
Normalized Net Income Margin	3.39	3.79	2.54	2.56	2.28
Levered Free Cash Flow Margin	3.58	2.71	0.04	4.85	0.71
Unlevered Free Cash Flow Margin	3.81	2.94	0.29	5.12	1
Asset Turnover
Asset Turnover	2.38	2.41	2.12	2.12	2.36
Fixed Assets Turnover	31.65	29.83	25.67	24.81	29.24
Receivables Turnover (Average Receivables)	61.21	67.91	54.29	50.63	55.21
Short Term Liquidity
Current Ratio	1.82	1.77	1.62	1.52	1.59
Quick Ratio	1.59	1.48	1.33	1.32	1.36
Operating Cash Flow to Current Liabilities	0.48	0.42	0.15	0.27	0.21
Days Sales Outstanding (Average Receivables)	5.96	5.39	6.72	7.21	6.61
Average Days Payable Outstanding	59.54	64.34	64.98	65.01	64.03
Long Term Solvency
Total Debt/Equity	52.66	54.37	84.15	78.28	77.23
Total Debt / Total Capital	34.5	35.22	45.7	43.91	43.58
LT Debt/Equity	44.02	46.73	68.85	61.74	65.31
Long-Term Debt / Total Capital	28.84	30.27	37.39	34.63	36.85
Total Liabilities / Total Assets	58.6	60.74	63.7	64.3	65.33
EBIT / Interest Expense