Humana Inc. (HUM) financial statements: income statement, balance sheet and cash flow

Humana Inc.'s income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Humana Inc. reported revenue of $129.7B (+10.1% year on year) and net income of $1.2B (-0.9% year on year).

Income statement

Humana Inc. income statement, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Premiums	$122.8B	$112.1B	$101.3B	$87.7B
Services	$5.8B	$4.4B	$4.0B	$4.8B
Investment income	$1.0B	$1.2B	$1.1B	$382.0M
Total revenues	$129.7B	$117.8B	$106.4B	$92.9B
Benefits	$110.8B	$100.7B	$88.4B	$75.7B
Operating costs	$15.4B	$13.7B	$13.2B	$12.7B
Depreciation and amortization	$698.0M	$839.0M	$779.0M	$709.0M
Total operating expenses	$127.0B	$115.2B	$102.4B	$89.1B
Income (loss) from operations	$2.7B	$2.6B	$4.0B	$3.8B
Loss on sale of business	$67.0M	$0	$0	($237.0M)
Interest expense	$631.0M	$660.0M	$493.0M	$401.0M
Other expense, net	$451.0M	$181.0M	$137.0M	$68.0M
Income before income taxes and equity in net losses	$1.6B	$1.7B	$3.4B	$3.6B
Provision for income taxes	$250.0M	$413.0M	$836.0M	$762.0M
Equity in net losses	($102.0M)	($94.0M)	($63.0M)	($4.0M)
Net income	$1.2B	$1.2B	$2.5B	$2.8B
Net (income) loss attributable to noncontrolling interests	($15.0M)	($7.0M)	$5.0M	$4.0M
Net income attributable to Humana	$1.2B	$1.2B	$2.5B	$2.8B
Basic earnings per common share (in dollars per share)	$9.87	$10.01	$20.09	$22.20
Diluted earnings per common share (in dollars per share)	$9.84	$9.98	$20.00	$22.08

Humana Inc. income statement, quarters

Line item	Jun 30, 2026 · Q2	Mar 31, 2026 · Q1	Sep 30, 2025 · Q3	Jun 30, 2025 · Q2
Premiums	$38.8B	$37.7B	$30.7B	$30.7B
Services	$1.8B	$1.7B	$1.6B	$1.4B
Net investment income	$253.0M	—	—	—
Total revenues	$40.9B	$39.6B	$32.6B	$32.4B
Benefits	$35.4B	$33.7B	$28.0B	$27.6B
Operating costs	$4.0B	$4.0B	$4.1B	$3.5B
Depreciation and amortization	$159.0M	$163.0M	$173.0M	$178.0M
Total operating expenses	$39.5B	$37.9B	$32.2B	$31.3B
Income from operations	$1.4B	$1.8B	$400.0M	$1.1B
Interest expense	$197.0M	$193.0M	$168.0M	$157.0M
Other expense, net	$211.0M	($34.0M)	$35.0M	$200.0M
Income before income taxes and equity in net losses	$952.0M	$1.6B	$134.0M	$741.0M
Provision for income taxes	$238.0M	$395.0M	($86.0M)	$179.0M
Equity in net losses	($21.0M)	($16.0M)	($26.0M)	($19.0M)
Net income	$693.0M	$1.2B	$194.0M	$543.0M
Net loss attributable to noncontrolling interests	$1.0M	$2.0M	$1.0M	$2.0M
Net income attributable to Humana	$694.0M	$1.2B	$195.0M	$545.0M
Basic earnings per common share (in dollars per share)	$5.78	$9.85	$1.62	$4.52
Diluted earnings per common share (in dollars per share)	$5.73	$9.83	$1.62	$4.51

Balance sheet

Humana Inc. balance sheet, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Cash and cash equivalents	$4.2B	$2.2B	$4.7B	$5.1B
Investment securities	$15.7B	$18.2B	$16.6B	$13.9B
Receivables, net of allowances of $108 in 2025 and $98 in 2024	$3.3B	$2.7B	$2.0B	$1.7B
Other current assets	$9.6B	$6.7B	$6.6B	$5.6B
Total current assets	$32.7B	$29.8B	$30.0B	$26.2B
Property and equipment, net	$2.2B	$2.5B	$3.0B	$3.2B
Long-term investment securities	$493.0M	$421.0M	$382.0M	$380.0M
Goodwill	$9.7B	$9.6B	$9.6B	$9.1B
Equity method investments	$638.0M	$697.0M	$740.0M	$749.0M
Other long-term assets	$3.1B	$3.4B	$3.4B	$3.4B
Total assets	$48.9B	$46.5B	$47.1B	$43.1B
Benefits payable	$10.0B	$10.4B	$10.2B	$9.3B
Trade accounts payable and accrued expenses	$5.7B	$5.3B	$6.6B	$5.2B
Book overdraft	$306.0M	$403.0M	$353.0M	$298.0M
Unearned revenues	$356.0M	$260.0M	$266.0M	$286.0M
Short-term debt	$0	$577.0M	$1.4B	$2.1B
Total current liabilities	$16.3B	$16.9B	$18.9B	$17.2B
Long-term debt	$12.4B	$11.1B	$10.2B	$9.0B
Other long-term liabilities	$2.5B	$2.0B	$1.7B	$1.5B
Total liabilities	$31.2B	$30.0B	$30.7B	$27.7B
Preferred stock, $1 par; 10,000,000 shares authorized; none issued	0	0	0	0
Common stock, $0.16 2/3 par; 300,000,000 shares authorized; 198,719,321 shares issued at December 31, 2025 and 198,718,810 shares issued at December 31, 2024	33.0M	33.0M	33.0M	33.0M
Capital in excess of par value	$3.6B	$3.5B	$3.3B	$3.2B
Retained earnings	$29.1B	$28.3B	$27.5B	$25.5B
Accumulated other comprehensive loss	($633.0M)	($1.1B)	($999.0M)	($1.3B)
Treasury stock, at cost, 78,128,009 shares at December 31, 2025 and 78,077,195 shares at December 31, 2024	-14.4B	-14.4B	-13.7B	-12.2B
Total stockholders' equity	$17.7B	$16.4B	$16.3B	$15.3B
Noncontrolling interests	$80.0M	$70.0M	$56.0M	$59.0M
Total equity	$17.7B	$16.4B	$16.3B	$15.4B
Total liabilities and equity	$48.9B	$46.5B	$47.1B	$43.1B

Humana Inc. balance sheet, quarters

Line item	Jun 30, 2026	Mar 31, 2026	Sep 30, 2025	Jun 30, 2025
Cash and cash equivalents	$6.9B	$5.0B	$5.4B	$4.0B
Investment securities	$17.0B	$17.0B	$16.7B	$17.7B
Receivables, net of allowances of $117 in 2026 and $108 in 2025	$5.7B	$5.2B	$2.7B	$4.5B
Other current assets	$10.5B	$10.9B	$7.9B	$7.4B
Total current assets	$40.1B	$38.1B	$32.8B	$33.6B
Property and equipment, net	$2.1B	$2.2B	$2.3B	$2.4B
Long-term investment securities	$650.0M	$626.0M	$440.0M	$431.0M
Equity method investments	$627.0M	$633.0M	$623.0M	$636.0M
Goodwill	$10.5B	$10.5B	$9.6B	$9.6B
Other long-term assets	$3.3B	$3.3B	$4.0B	$3.7B
Total assets	$57.2B	$55.3B	$49.7B	$50.4B
Benefits payable	$12.9B	$12.7B	$10.1B	$11.1B
Trade accounts payable and accrued expenses	$7.3B	$6.5B	$5.5B	$5.6B
Book overdraft	$351.0M	$297.0M	$308.0M	$298.0M
Unearned revenues	$249.0M	$269.0M	$265.0M	$274.0M
Short-term debt	$2.3B	$1.7B	$0	$0
Total current liabilities	$23.0B	$21.5B	$16.2B	$17.2B
Long-term debt	$12.0B	$12.3B	$12.6B	$12.6B
Other long-term liabilities	$2.9B	$2.9B	$2.4B	$2.3B
Total liabilities	$37.9B	$36.6B	$31.1B	$32.1B
Preferred stock, $1 par; 10,000,000 shares authorized; none issued	0	0	0	0
Common stock, $0.16 2/3 par; 300,000,000 shares authorized; 198,719,832 shares issued at June 30, 2026 and 198,719,321 shares issued at December 31, 2025	33.0M	33.0M	33.0M	33.0M
Capital in excess of par value	$3.7B	$3.6B	$3.6B	$3.6B
Retained earnings	$30.7B	$30.2B	$30.0B	$29.9B
Accumulated other comprehensive loss	($751.0M)	($731.0M)	($666.0M)	($783.0M)
Treasury stock, at cost, 78,639,524 shares at June 30, 2026 and 78,128,009 shares at December 31, 2025	-14.5B	-14.5B	-14.5B	-14.5B
Total stockholders' equity	$19.2B	$18.6B	$18.5B	$18.2B
Noncontrolling interests	$64.0M	$66.0M	$60.0M	$61.0M
Total equity	$19.3B	$18.6B	$18.6B	$18.3B
Total liabilities and equity	$57.2B	$55.3B	$49.7B	$50.4B

Cash flow statement

Humana Inc. cash flow statement, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Net income	$1.2B	$1.2B	$2.5B	$2.8B
Loss on sale of business	$67.0M	$0	$0	($237.0M)
Loss (gain) on investment securities, net	$50.0M	($24.0M)	$54.0M	$205.0M
Equity in net losses	$102.0M	$94.0M	$63.0M	$4.0M
Stock-based compensation	$241.0M	$207.0M	$175.0M	$216.0M
Depreciation	$773.0M	$908.0M	$850.0M	$749.0M
Amortization	$51.0M	$60.0M	$67.0M	$96.0M
Impairment of property and equipment	$28.0M	$237.0M	$206.0M	$248.0M
Impairment of indefinite-lived intangible assets	$128.0M	$200.0M	$55.0M	—
Deferred income taxes	$75.0M	($192.0M)	($167.0M)	—
Receivables	($570.0M)	($669.0M)	($337.0M)	($54.0M)
Other assets	($2.2B)	$1.0B	($1.3B)	($463.0M)
Benefits payable	($472.0M)	$199.0M	$915.0M	$975.0M
Other liabilities	$1.3B	($373.0M)	$841.0M	$44.0M
Unearned revenues	$96.0M	($6.0M)	($20.0M)	$32.0M
Other, net	$0	$108.0M	$113.0M	$70.0M
Net cash provided by operating activities	$921.0M	$3.0B	$4.0B	$4.6B
Proceeds from sale of business, net	$115.0M	$0	$0	$2.7B
Acquisitions, net of cash and cash equivalents acquired	($81.0M)	($89.0M)	($233.0M)	($337.0M)
Purchases of property and equipment	($546.0M)	($575.0M)	($1.0B)	($1.1B)
Proceeds from sale of property and equipment	$23.0M	$7.0M	$210.0M	—
Changes in securities lending collateral receivable	($220.0M)	($418.0M)	—	—
Purchases of investment securities	($6.4B)	($8.2B)	($7.6B)	($6.0B)
Proceeds from maturities of investment securities	$2.9B	$3.0B	$1.3B	$1.4B
Proceeds from sales of investment securities	$6.5B	$3.4B	$3.8B	$2.4B
Other	$0	($50.0M)	—	—
Net cash provided by (used in) investing activities	$2.3B	($3.0B)	($3.5B)	($1.0B)
(Payments) receipts from contract deposits, net	($1.1B)	($1.9B)	$828.0M	$2.0B
Proceeds from issuance of senior notes, net	$1.5B	$2.2B	$2.5B	$2.0B
Repayment of senior notes	($948.0M)	($1.1B)	($1.8B)	($1.0B)
(Repayments) proceeds from issuance of commercial paper, net	($5.0M)	($907.0M)	$211.0M	($376.0M)
Proceeds from short-term borrowings	$0	$0	$100.0M	—
Repayment of short-term borrowings	$0	$0	($100.0M)	—
Repayment of term loan	$0	$0	($500.0M)	($2.0B)
Debt issue costs	($5.0M)	($7.0M)	($7.0M)	($6.0M)
Common stock repurchases	($151.0M)	($817.0M)	($1.6B)	($2.1B)
Dividends paid	($430.0M)	($431.0M)	($431.0M)	($392.0M)
Changes in securities lending payable	$220.0M	$418.0M	—	—
Changes in rebate factor payable	($123.0M)	$123.0M	—	—
Change in book overdraft	($97.0M)	$50.0M	$55.0M	($28.0M)
Other, net	($81.0M)	($108.0M)	($151.0M)	$9.0M
Net cash used in financing activities	($1.2B)	($2.5B)	($856.0M)	($1.9B)
Increase (decrease) in cash and cash equivalents	$2.0B	($2.5B)	($367.0M)	$1.7B
Cash and cash equivalents at beginning of period	$2.2B	$4.7B	$5.1B	$3.4B
Cash and cash equivalents at end of period	$4.2B	$2.2B	$4.7B	$5.1B

Humana Inc. cash flow statement, quarters

Line item	Jun 30, 2026 · YTD	Mar 31, 2026 · Q1	Sep 30, 2025 · YTD	Jun 30, 2025 · YTD
Net income	$1.9B	$1.2B	$2.0B	$1.8B
Losses (gains) on investment securities, net	$26.0M	$1.0M	($66.0M)	($13.0M)
Equity in net losses	$37.0M	$16.0M	$88.0M	$62.0M
Stock-based compensation	$116.0M	$51.0M	$193.0M	$110.0M
Depreciation	$363.0M	$183.0M	$587.0M	$396.0M
Amortization	$19.0M	$11.0M	$43.0M	$30.0M
Impairment of property and equipment	$25.0M	$2.0M	$14.0M	$14.0M
Impairment of indefinite-lived intangible assets	$0	—	$32.0M	$32.0M
Receivables	($2.4B)	($1.9B)	$16.0M	($1.8B)
Other assets	($902.0M)	($1.4B)	($1.4B)	($658.0M)
Benefits payable	$2.9B	$2.7B	($351.0M)	$620.0M
Other liabilities	$1.2B	$452.0M	$1.3B	$1.0B
Unearned revenues	($107.0M)	($87.0M)	$5.0M	$14.0M
Other, net	$8.0M	$21.0M	$27.0M	$0
Net cash provided by operating activities	$3.2B	$1.3B	$2.6B	$1.6B
Proceeds from sale of business, net	$40.0M	—	$115.0M	—
Acquisitions, net of cash acquired	($930.0M)	($911.0M)	($5.0M)	($1.0M)
Purchases of property and equipment, net	($253.0M)	($121.0M)	($344.0M)	($209.0M)
Purchases of investment securities	($4.2B)	($2.9B)	($5.2B)	($1.9B)
Proceeds from maturities of investment securities	$1.6B	$923.0M	$2.1B	$1.6B
Proceeds from sales of investment securities	$1.1B	$395.0M	$5.1B	$1.2B
Changes in securities lending collateral receivable	($64.0M)	$55.0M	($141.0M)	($48.0M)
Net cash (used in) provided by investing activities	($2.8B)	($2.6B)	$1.6B	$661.0M
Receipts (payments) from contract deposits, net	$547.0M	$673.0M	($1.2B)	($579.0M)
Proceeds from issuance of notes, net	$990.0M	$990.0M	—	—
Repayments of notes	($281.0M)	($10.0M)	—	—
Proceeds (repayments) from issuance of commercial paper, net	$1.3B	$693.0M	($5.0M)	($5.0M)
Debt issue costs	($16.0M)	$0	($5.0M)	($5.0M)
Change in book overdraft	$45.0M	($9.0M)	($95.0M)	($105.0M)
Common stock repurchases	($108.0M)	($107.0M)	($109.0M)	($109.0M)
Dividends paid	($214.0M)	($107.0M)	($321.0M)	($214.0M)
Changes in securities lending payable	$64.0M	($55.0M)	$141.0M	$48.0M
Changes in rebate factor payable	$0	$0	($123.0M)	($123.0M)
Other	($28.0M)	($18.0M)	($76.0M)	($62.0M)
Net cash provided by (used in) financing activities	$2.3B	$2.0B	($1.0B)	($444.0M)
Increase in cash and cash equivalents	$2.7B	$751.0M	$3.2B	$1.8B
Cash and cash equivalents at beginning of period	$4.2B	$4.2B	$2.2B	$2.2B
Cash and cash equivalents at end of period	$6.9B	$5.0B	$5.4B	$4.0B
Interest payments	$314.0M	$142.0M	$440.0M	$293.0M
Fair value of assets acquired, net of cash acquired	$989.0M	$966.0M	$6.0M	$2.0M
Less: Fair value of liabilities assumed	($59.0M)	($55.0M)	($1.0M)	($1.0M)
Cash paid for acquired businesses, net of cash acquired	($930.0M)	($911.0M)	—	—

Humana Inc. score and earnings-call analysis · All covered companies

Figures as reported in SEC filings. General information, not investment advice.