HUMANA INC(HUM)Stock Analysis
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Rank #25 of 2,879 stocksTOP 1%
Rankings refresh quarterly once 80% of peers have filed (~45 days after quarter-end). Next update: ~Aug 14, 2026.
Revenue Growth
Profitability
Balance Sheet
Earnings Quality
Free Cash Flow
Institutional Flow
Revenue Scale
Dilution Risk
HUM Stock Analysis & AI Quality Score
AI stock analysis and institutional research for HUMANA INC (HUM), a Healthcare sector company. 13F Pro's AI-powered ranking engine scores HUM at 82.0/100 on a 32-signal composite quality model, placing it at rank #25 of 2,879 stocks — the top 1% of the AI-ranked universe. HUM scores in the top quartile across profitability (94.6), free cash flow (93.7), revenue growth (82.1). Areas of concern include earnings quality (28.3), which score below median versus the broader universe. Based on the latest XBRL financial filings (Q1 2026), HUMANA INC reports quarterly revenue of $39.6B, net income of $1.2B, an operating margin of 4.4%. Top institutional holders of HUM by reported 13-F value include DODGE & COX, BlackRock,, VANGUARD CAPITAL MANAGEMENT, based on the most recent SEC filings. HUM trades on the NYSE exchange and files with the SEC under CIK 49071. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate HUM daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for HUMANA INC directly from SEC EDGAR. HUMANA INC's 13F Pro composite quality score has ranged between 8 and 82 since 2021, currently 82.0 — an improving long-term trajectory across 56 quarterly and live scoring snapshots.
What's Driving HUM's Business? Latest 10-Q Breakdown
✓ 29/29 datapoints verifiedAI-extracted from HUMANA INC's 10-Q filed 2026-04-29 — Q1 2026 (quarter ended March 31, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.
Humana's Q1 net income fell 4.7% to $1.19B despite 23.6% premium revenue growth, pressured by a 240 basis point rise in benefit ratio due to Star Ratings headwind and new member mix.
Biggest Revenue Drivers
Total revenue: $39.6B+23.5% YoY
Membership growth across Medicare businesses, higher per-member MA and stand-alone PDP premiums from increased CMS benchmark funding and Inflation Reduction Act direct subsidy, partially offset by BY 2026 Star Ratings headwind.
Expansion of payor-agnostic client base, primarily from primary care acquisitions including MaxHealth, partially offset by final year phase-in of v28 risk model revision.
Relatively flat period-over-period.
Largest Expense Items
Increased from membership growth; benefit ratio rose 240 bps to 89.4% due to Star Ratings headwind, new member higher benefit ratio mix, and lower favorable prior-period development.
Offset by operating leverage from revenue growth and cost efficiency initiatives; operating cost ratio improved 40 bps to 10.2%.
Higher average debt balances and financing costs.
Margins: Consolidated benefit ratio deteriorated 240 basis points to 89.4%, primarily due to BY 2026 Star Ratings revenue headwind and new member mix running higher benefit ratios. Operating cost ratio improved 40 basis points to 10.2% from operating leverage and cost efficiency gains, partially offset by CenterWell's 340 basis point deterioration from v28 risk model phase-in and specialty pharmacy mix.
Watch Items from the Filing
- Medicare products represent 86% of premiums and services revenue; regulatory changes via CMS RADV audit methodology, risk adjustment model, or Star Ratings program could materially impact results. BY 2026 Star Ratings headwind cited as significant pressure in Q1.
- Litigation exposure: Humana v. Kennedy (RADV Rule challenge) pending at Fifth Circuit Court of Appeals; securities class action and derivative actions ongoing; DOJ intervened qui tam lawsuit alleging false claims on commission and marketing practices.
- CenterWell segment operating cost ratio deteriorated 340 bps to 94.5% in Q1; integration and transaction costs from MaxHealth ($908M acquisition in Feb 2026) and v28 risk model final phase-in year creating near-term headwinds.
- Put/call option valuation on Welsh Carson partnership swung to $34M loss from $163M gain YoY; $1.38B put liability could reset if revenue assumptions decline, with first two cohorts callable in 2026 for $1.0B–$1.6B.
AI-extracted and verified against SEC EDGAR filing text. Not investment advice.
Revenue
Q1 2026
$39.6B
Net Income
Q1 2026
$1.2B
Free Cash Flow
Q1 2026
$1.1B
Operating Margin
Q1 2026
4.4%
ROIC
Q1 2026
5.7%
D/E Ratio
Q1 2026
0.75
Revenue & Net Income
Earnings Per Share
Key Financials Over Time
Export Financial Table · Pro+Revenue
+10.7% YoYNet Income
-51.5% YoYOperating Income
-36.2% YoYEPS (Diluted)
-50.1% YoYTotal Assets
-1.2% YoYTotal Debt
+0.6% YoYOp. Cash Flow
-25.5% YoY| Metric | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|
| Revenue | $117.76B +10.7% | $106.37B +14.5% | $92.87B +11.8% | $83.06B +7.7% | $77.16B +18.9% | $64.89B |
| Net Income | $1.21B -51.5% | $2.49B -11.3% | $2.81B -4.3% | $2.93B -12.9% | $3.37B +24.4% | $2.71B |
| Operating Income | $2.56B -36.2% | $4.01B +5.6% | $3.80B +20.7% | $3.15B -36.9% | $4.99B +56.2% | $3.19B |
| EPS (Diluted) | $9.98 -50.1% | $20.00 -9.4% | $22.08 -2.6% | $22.67 -10.4% | $25.31 +25.9% | $20.10 |
| Total Assets | $46.48B -1.2% | $47.06B +9.3% | $43.05B -2.9% | $44.36B +26.8% | $34.97B +20.3% | $29.07B |
| Total Debt | $11.72B +0.6% | $11.66B +4.8% | $11.13B -10.9% | $12.49B +87.6% | $6.66B +17.5% | $5.67B |
| Operating Cash Flow | $2.97B -25.5% | $3.98B -13.2% | $4.59B +102.8% | $2.26B -59.9% | $5.64B +6.7% | $5.28B |
AI Insight: HUM Financial Trends
Revenue surged 23.5% year-over-year to $39,648M in Q1 2026, but persistent Q4 losses and volatile cash flows highlight operational challenges.
• Revenue grew from $32,112M in Q1 2025 to $39,648M in Q1 2026, a 23.5% year-over-year increase.
• Operating income turned positive to $1,754M in Q1 2026 after Q4 2025 loss of $-808M.
• Net losses in Q4 quarters: $-693M in 2024 and $-796M in 2025 show recurring seasonal weakness.
⚠ Operating cash flow swung from $-1,652M in Q4 2025 to $1,254M in Q1 2026, indicating volatile cash generation.
⚠ Total debt increased to $13,993M in Q1 2026 from $12,369M in Q4 2025, reversing deleveraging trend.
AI Insight: HUM Ratio Trends
Humana shows extreme quarterly volatility with consistent Q4 losses and strong Q1 recoveries, but TTM profitability remains severely depressed.
• Operating margin collapsed from 6.3% in Q1 2025 to -2.5% in Q4 2025, marking second consecutive negative Q4.
• ROIC plunged from 25.9% in Q1 2025 to -10.8% in Q4 2025, following similar pattern as prior year.
• TTM operating margin of 1.8% represents significant deterioration from Q2 2024's 3.9% quarterly performance.
• Debt-to-equity ratio improved from 0.77 in Q2 2024 to 0.75 in Q1 2026, showing modest deleveraging.
⚠ Severe seasonal pattern with Q4 losses of -1.9% and -2.5% operating margins in consecutive years.
⚠ Q1 2026 recovery to 4.4% operating margin suggests potential seasonal rebound but below prior year's 6.3%.
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13F Pro tracks comprehensive data for HUMANA INC including:
Top Institutional Holders of HUM
DODGE & COX
$2.0B11,380,673 shBlackRock, Inc.
$1.8B10,199,055 shVANGUARD CAPITAL MANAGEMENT LLC
$1.4B7,838,762 shVANGUARD PORTFOLIO MANAGEMENT LLC
$1.0B5,808,435 shSTATE STREET CORP
$950.2M5,452,992 shPZENA INVESTMENT MANAGEMENT LLC
$948.6M5,470,982 shMASSACHUSETTS FINANCIAL SERVICES CO /MA/
$775.2M4,482,370 shSessa Capital IM, L.P.
$646.4M3,727,740 shGEODE CAPITAL MANAGEMENT, LLC
$576.0M3,326,695 shEAGLE CAPITAL MANAGEMENT LLC
$514.5M2,967,074 sh
| Fund | Value | Shares |
|---|---|---|
| DODGE & COX | $2.0B | 11,380,673 |
| BlackRock, Inc. | $1.8B | 10,199,055 |
| VANGUARD CAPITAL MANAGEMENT LLC | $1.4B | 7,838,762 |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $1.0B | 5,808,435 |
| STATE STREET CORP | $950.2M | 5,452,992 |
| PZENA INVESTMENT MANAGEMENT LLC | $948.6M | 5,470,982 |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ | $775.2M | 4,482,370 |
| Sessa Capital IM, L.P. | $646.4M | 3,727,740 |
| GEODE CAPITAL MANAGEMENT, LLC | $576.0M | 3,326,695 |
| EAGLE CAPITAL MANAGEMENT LLC | $514.5M | 2,967,074 |
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Is HUM a good stock to buy?
13F Pro's AI-powered analysis of HUMANA INC (HUM) draws on SEC EDGAR-sourced fundamentals, institutional 13F holdings, and insider Form 4 transactions in the Healthcare sector (listed on NYSE). The 32-signal AI Quality Score, current rank, and full bull/bear verdict for HUM are available on the HUM stock profile dashboard — with the same data, AI insights, ratios, and institutional activity refreshed after every 10-K, 10-Q, 13F, and Form 4 filing.
Which hedge funds own HUM?
Institutional investors are required to disclose their holdings quarterly via SEC Form 13F. 13F Pro aggregates these filings to show which hedge funds, mutual funds, and asset managers are buying or selling HUM. Combined with insider transaction data from Form 4 filings and AI-powered analysis from 10 specialized research agents, 13F Pro provides a comprehensive view of HUMANA INC's investment landscape.