Financials Humana Inc.

Equities

HUM

US4448591028

Managed Healthcare

Market Closed - Nyse Other stock markets 01:30:02 15/07/2025 am IST			5-day change	1st Jan Change
227.46 ^USD	-1.39%		-4.11%	-10.35%

14/07	Humana Inc. Inaugural Humana Cognitive Games to Celebrate Healthy Aging and Inspire Whole-Person Wellness	CI
11/07	Deutsche Bank Lowers Price Target on Humana to $224 From $262, Keeps Hold Rating	MT

Projected Income Statement: Humana Inc.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	77,155	83,064	92,870	1,06,374	1,17,761	1,26,619	1,30,320	1,40,744
Change	-	7.66%	11.81%	14.54%	10.7%	7.52%	2.92%	8%
EBITDA ¹	4,240	4,278	5,122	5,711	4,442	4,077	3,736	4,537
Change	-	0.9%	19.73%	11.5%	-22.22%	-8.21%	-8.37%	21.45%
EBIT ¹	3,751	2,488	4,413	4,999	3,543	3,330	2,973	3,963
Change	-	-33.67%	77.37%	13.28%	-29.13%	-6%	-10.74%	33.32%
Interest Paid ¹	-283	-326	-401	-493	-660	-653.4	-652.1	-666.7
Earnings before Tax (EBT) ¹	4,600	3,354	3,568	3,383	1,721	2,527	2,181	3,306
Change	-	-27.09%	6.38%	-5.18%	-49.13%	46.81%	-13.69%	51.62%
Net income ¹	3,367	2,933	2,806	2,489	1,207	1,865	1,563	2,472
Change	-	-12.89%	-4.33%	-11.3%	-51.51%	54.49%	-16.15%	58.13%
Announcement Date	03/02/21	02/02/22	01/02/23	25/01/24	11/02/25	-	-	-

¹USD in Million

Estimates

Fiscal Period: December	2020 Q2	2020 Q3	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3	2026 Q4	2027 Q1
Net sales ¹	19,083	20,075	19,062	20,668	20,645	20,697	21,054	23,970	23,662	22,799	22,439	26,742	26,747	26,423	26,462	29,611	29,540	29,397	29,213	32,112	31,851	31,477	31,289	32,906	32,964	32,652	32,511	35,235
Change	-	5.2%	-5.05%	8.43%	-0.11%	0.25%	1.72%	13.85%	-1.28%	-3.65%	-1.58%	19.18%	0.02%	-1.21%	0.15%	11.9%	-0.24%	-0.48%	-0.63%	9.92%	-0.81%	-1.17%	-0.6%	5.17%	0.18%	-0.95%	-0.43%	8.38%
EBITDA ¹	2,554	753	-299	1,465	1,354	1,040	417	1,604	1,501	1,200	640	1,875	1,854	1,459	508	1,639	1,579	951	245	2,384	1,273	714.9	-157.4	2,054	1,119	641.1	-292	2,376
Change	-	-70.52%	-139.71%	589.97%	-7.58%	-23.19%	-59.9%	284.65%	-6.42%	-20.05%	-46.67%	192.97%	-1.12%	-21.31%	-65.18%	222.64%	-3.66%	-39.77%	-74.24%	873.06%	-46.62%	-43.82%	-122.02%	1,404.43%	-45.53%	-42.69%	-145.55%	913.68%
EBIT ¹	2,457	625	-426	1,308	1,195	890	240	1,415	1,313	1,018	458	1,657	1,530	1,258	322	1,397	1,336	756	23	2,201	1,117	581.6	-393.8	1,870	948.1	464.3	-470.3	2,268
Change	-	-74.56%	-168.16%	407.04%	-8.64%	-25.52%	-73.03%	489.58%	-7.21%	-22.47%	-55.01%	261.79%	-7.66%	-17.78%	-74.4%	333.85%	-4.37%	-43.41%	-96.96%	9,469.57%	-49.26%	-47.92%	-167.71%	574.88%	-49.3%	-51.03%	-201.28%	582.31%
Charge d'intérêts ¹	-76	-75	-72	-68	-79	-88	-91	-90	-101	-102	-108	-113	-120	-114	-146	-159	-168	-169	-164	-160	-164	-164.2	-164.4	-165.5	-165.1	-164.7	-164.5	-166.5
Earnings before Tax (EBT) ¹	2,586	1,755	-458	1,040	738	1,636	-60	1,220	1,122	1,297	-71	1,614	1,262	1,098	-591	1,014	918	651	-862	1,691	938.2	385.5	-543.2	1,561	683.3	306.3	-592	2,099
Change	-	-32.13%	-126.1%	327.07%	-29.04%	121.68%	-103.67%	2,133.33%	-8.03%	15.6%	-105.47%	2,373.24%	-21.81%	-13%	-153.83%	271.57%	-9.47%	-29.08%	-232.41%	296.17%	-44.52%	-58.91%	-240.9%	387.45%	-56.23%	-55.17%	-293.25%	454.56%
Net income ¹	1,828	1,340	-274	828	588.7	1,531	-14	930	696	1,195	-15	1,239	959	832	-541	741	679	480	-693	1,244	711	298.2	-426.5	1,251	640.4	200.8	-498.4	1,453
Change	-	-26.7%	-120.45%	402.19%	-28.9%	160.06%	-100.91%	6,742.86%	-25.16%	71.7%	-101.26%	8,360%	-22.6%	-13.24%	-165.02%	236.97%	-8.37%	-29.31%	-244.38%	279.51%	-42.84%	-58.07%	-243.05%	393.4%	-48.83%	-68.64%	-348.2%	391.59%
Announcement Date	05/08/20	03/11/20	03/02/21	28/04/21	28/07/21	03/11/21	02/02/22	27/04/22	27/07/22	02/11/22	01/02/23	26/04/23	02/08/23	01/11/23	25/01/24	24/04/24	31/07/24	30/10/24	11/02/25	30/04/25	-	-	-	-	-	-	-	-

¹USD in Million

Estimates

Forecast Balance Sheet: Humana Inc.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt ¹	1,987	9,100	6,065	6,962	9,500	7,572	6,284	5,765
Change	-	357.98%	-33.35%	14.79%	36.46%	-20.29%	-17.01%	-8.26%
Announcement Date	03/02/21	02/02/22	01/02/23	25/01/24	11/02/25	-	-	-

¹USD in Million

Estimates

Cash Flow Forecast: Humana Inc.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
CAPEX ¹	964	1,316	1,120	1,004	575	608.5	634.4	657.4
Change	-	36.51%	-14.89%	-10.36%	-42.73%	5.83%	4.25%	3.63%
Free Cash Flow (FCF) ¹	4,675	946	3,467	2,977	2,391	2,922	2,528	3,204
Change	-	-79.76%	266.49%	-14.13%	-19.68%	22.19%	-13.46%	26.71%
Announcement Date	03/02/21	02/02/22	01/02/23	25/01/24	11/02/25	-	-	-

¹USD in Million

Estimates

Forecast Financial Ratios: Humana Inc.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Profitability
EBITDA Margin (%)	5.5%	5.15%	5.52%	5.37%	3.77%	3.22%	2.87%	3.22%
EBIT Margin (%)	4.86%	3%	4.75%	4.7%	3.01%	2.63%	2.28%	2.82%
EBT Margin (%)	5.96%	4.04%	3.84%	3.18%	1.46%	2%	1.67%	2.35%
Net margin (%)	4.36%	3.53%	3.02%	2.34%	1.02%	1.47%	1.2%	1.76%
FCF margin (%)	6.06%	1.14%	3.73%	2.8%	2.03%	2.31%	1.94%	2.28%
FCF / Net Income (%)	138.85%	32.25%	123.56%	119.61%	198.09%	156.68%	161.71%	129.58%
Profitability
ROA	12.84%	7.39%	6.42%	7.21%	4.38%	3.94%	3.09%	4.33%
ROE	19.36%	17.92%	20.44%	20.57%	12.01%	11.57%	9.12%	11.7%
Financial Health
Leverage (Debt/EBITDA)	0.47x	2.13x	1.18x	1.22x	2.14x	1.86x	1.68x	1.27x
Debt / Free cash flow	0.43x	9.62x	1.75x	2.34x	3.97x	2.59x	2.49x	1.8x
Capital Intensity
CAPEX / Current Assets (%)	1.25%	1.58%	1.21%	0.94%	0.49%	0.48%	0.49%	0.47%
CAPEX / EBITDA (%)	22.74%	30.76%	21.87%	17.58%	12.94%	14.92%	16.98%	14.49%
CAPEX / FCF (%)	20.62%	139.11%	32.3%	33.73%	24.05%	20.83%	25.09%	20.52%
Items per share
Cash flow per share ¹	42.39	17.48	36.09	31.99	24.54	22.91	24.95	29.67
Change	-	-58.77%	106.46%	-11.36%	-23.29%	-6.65%	8.9%	18.93%
Dividend per Share ¹	2.5	2.725	3.15	3.54	3.54	3.677	3.897	4.038
Change	-	9%	15.6%	12.38%	0%	3.87%	6%	3.59%
Book Value Per Share ¹	106.5	124.3	122.5	133.1	135.7	146.2	154.7	170.3
Change	-	16.65%	-1.41%	8.6%	2.02%	7.72%	5.81%	10.1%
EPS ¹	25.31	22.67	22.08	20	9.98	15.33	13.04	20.56
Change	-	-10.43%	-2.6%	-9.42%	-50.1%	53.64%	-14.94%	57.6%
Nbr of stocks (in thousands)	1,32,341	1,28,534	1,26,600	1,23,111	1,20,411	1,20,693	1,20,693	1,20,693
Announcement Date	03/02/21	02/02/22	01/02/23	25/01/24	11/02/25	-	-	-