HUM Analysis — TradeApes

HUMANA INC (HUM)

Financials

$197.33 close · Apr 09, 2026

↓ Mild Discount (75/100)

⚠️

Multiple stretched z = +1.91

EV/EBITDA (9.4×) is 1.91 std deviations above its 2-year average

Apr 09

Health Score

Out of 100

Mixed

Pillar Scores

Financial Strength 65

Operating Trend 50

Valuation 50

Capital Allocation 55

Risk 80

Positives

↑ Free cash flow positive — business generates real spendable cash +2.5

↑ Strong liquidity — current assets more than 2× current liabilities +1.3

↑ Low stock compensation — SBC below 3% of revenue +0.8

Concerns

Signal contribution: +4.6 from strengths

Health Score Trend 8 snapshots

Financials

TTM Financials

Revenue ?Total sales generated from the company's primary business activities over the trailing twelve months.	129.66B
Gross Profit ?Revenue minus cost of goods sold. What remains before operating expenses — reflects pricing power and production efficiency.	—
Operating Income ?Profit from core business operations after all operating expenses (EBIT). Excludes interest and taxes.	2.70B
Net Income ?Bottom-line profit after all expenses, interest, and taxes are deducted from revenue.	1.19B
Free Cash Flow ?Operating cash flow minus capital expenditures. The actual cash the business generates after maintaining its assets — the truest measure of profitability.	375.0M
EBITDA ?Earnings before interest, taxes, depreciation & amortization. A proxy for operating cash earnings that strips out accounting and financing differences.	3.40B
Total Debt ?Combined short-term and long-term interest-bearing debt obligations. Compare against cash and earnings to gauge leverage risk.	12.37B
Cash & Equivalents ?Highly liquid assets on hand — cash, money market funds, and short-term securities. The company's immediate financial cushion.	4.20B

Valuation

Market Cap	23.84B
Enterprise Value	32.01B
EV / Revenue	0.2x
EV / EBITDA	9.4x
P/E (TTM)	20.1x
Forward P/E (extrapolated)	7.5x
PEG	0.2x
P/FCF	63.6x
FCF Yield	1.6%

Relative Valuation

Using relative multiples

EV / Revenue

0.2x

Book Value / Share

$146.14

Price / Book

1.4x

P/E (TTM)

20.1x

Price / Sales

0.2x

Key Metrics

Gross Margin ?Gross profit as a % of revenue. Measures how efficiently the company produces its goods or services — higher is better.	—
EBITDA Margin ?EBITDA as a % of revenue. Shows core operating profitability before accounting adjustments — useful for comparing across industries.	2.6%
Net Margin ?Net income as a % of revenue. The ultimate measure of overall profitability after every expense, interest payment, and tax is accounted for.	0.9%
FCF Margin ?Free cash flow as a % of revenue. Shows how much of each dollar of revenue converts into real, spendable cash.	0.3%
Revenue Growth (YoY) ?Year-over-year change in total revenue. Measures business momentum — sustained growth above 15% is typically considered strong.	46.4%
Net Income Growth (YoY) ?Year-over-year change in net income. Shows whether profits are growing faster or slower than revenue — a key indicator of improving or deteriorating quality.	-37.5%
Piotroski F-Score ?Score from 0–9 measuring financial strength across profitability, leverage, and efficiency signals. 8–9 = strong, 0–2 = distressed.	4 / 9
Altman Z-Score ?Bankruptcy risk model. Above 2.99 = safe zone, 1.81–2.99 = grey zone, below 1.81 = distress signal. Most useful for manufacturing companies.	4.08

Community Sentiment

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Quarterly Financials

Metric	Q4 '25	Q3 '25	Q2 '25	Q1 '25	Q4 '25	Q3 '25	Q2 '25	Q1 '24	Q4 '23	Q3 '23	Q2 '23	Q1 '24
Revenue ?Total quarterly sales from primary business operations.	32.52B	32.65B	32.39B	32.11B	—	29.40B	29.54B	29.61B	—	26.42B	26.75B	26.74B
Gross Profit ?Quarterly revenue minus cost of goods sold.	—	—	—	—	—	—	—	—	—	—	—	—
Operating Income ?Quarterly profit from core operations before interest and taxes (EBIT).	-808.0M	400.0M	1.10B	2.01B	—	728.0M	1.14B	1.24B	—	1.21B	1.44B	1.72B
Net Income ?Quarterly bottom-line profit after all expenses and taxes.	-796.0M	195.0M	545.0M	1.24B	—	480.0M	679.0M	741.0M	—	832.0M	959.0M	1.24B
FCF ?Quarterly free cash flow: operating cash minus capital expenditures.	139.0M	—	—	236.0M	—	—	—	246.0M	—	—	—	6.46B

Revenue & Free Cash Flow

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Disclaimer: This analysis is for informational purposes only and does not constitute investment advice. Scores and valuations are derived from SEC filings and publicly available data. Always do your own research before making investment decisions.