Stock Analysis on Net
Stock Analysis on Net

Humana Inc. (NYSE:HUM)

Analysis of Long-term (Investment) Activity Ratios
Quarterly Data

Microsoft Excel

Activity ratios measure how efficiently a company performs day-to-day tasks, such us the collection of receivables and management of inventory.

Long-term Activity Ratios (Summary)

Humana Inc., long-term (investment) activity ratios (quarterly data)

Microsoft Excel
Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Net fixed asset turnover 36.28 34.75 30.35 29.59 29.40 28.71 28.37 28.64 27.05 26.97 27.83 29.47 31.04 32.05 32.90 33.07 33.20 32.93 — — —
Total asset turnover 2.16 2.24 1.81 1.73 1.74 2.15 1.80 1.91 1.86 1.87 1.78 2.08 2.08 2.17 1.90 1.82 1.94 2.21 — — —
Equity turnover 6.70 6.48 5.98 5.82 5.74 6.04 5.62 5.77 5.63 5.15 4.96 5.34 5.48 5.54 4.65 4.86 5.44 5.35 — — —

Based on: 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

Long-term activity ratio Description The company
Net fixed asset turnover An activity ratio calculated as total revenue divided by net fixed assets. Humana Inc. net fixed asset turnover ratio improved from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024.
Total asset turnover An activity ratio calculated as total revenue divided by total assets. Humana Inc. total asset turnover ratio improved from Q3 2023 to Q4 2023 but then slightly deteriorated from Q4 2023 to Q1 2024.
Equity turnover An activity ratio calculated as total revenue divided by shareholders’ equity. Humana Inc. equity turnover ratio improved from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024.

Net Fixed Asset Turnover

Humana Inc., net fixed asset turnover calculation (quarterly data)

Microsoft Excel
Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Selected Financial Data (US$ in millions)
External revenues 29,323 26,168 26,115 26,473 26,549 22,279 22,627 23,615 23,967 21,088 20,730 20,469 20,590 18,848 19,361 19,006 18,786 16,145 16,105 16,131 16,006
Property and equipment, net 2,979 3,030 3,342 3,309 3,234 3,221 3,218 3,121 3,189 3,073 2,898 2,690 2,507 2,371 2,228 2,118 2,023 1,955 1,864 1,796 1,754
Long-term Activity Ratio
Net fixed asset turnover1 36.28 34.75 30.35 29.59 29.40 28.71 28.37 28.64 27.05 26.97 27.83 29.47 31.04 32.05 32.90 33.07 33.20 32.93 — — —
Benchmarks
Net Fixed Asset Turnover, Competitors2
Abbott Laboratories 3.99 3.95 4.18 4.26 4.47 4.76 5.18 5.17 5.00 4.81 4.79 4.56 4.23 3.83 3.74 3.77 4.06 3.97 — — —
Cigna Group 56.79 52.53 48.12 47.67 47.44 47.53 47.84 48.61 47.95 46.73 41.42 40.56 39.29 37.85 37.05 36.02 35.37 34.45 — — —
CVS Health Corp. 27.59 27.05 26.62 26.00 25.63 24.98 24.90 24.05 23.26 22.56 22.24 21.90 21.42 21.25 21.48 21.52 21.49 21.24 — — —
Elevance Health Inc. 38.32 39.05 39.41 36.19 36.14 36.07 36.22 36.17 35.81 34.94 34.54 34.17 34.94 34.69 34.61 32.74 32.30 32.92 — — —
Intuitive Surgical Inc. 1.93 2.01 2.23 2.35 2.49 2.62 2.73 2.83 3.00 3.04 3.16 3.13 2.86 2.76 2.85 3.00 3.36 3.52 — — —
Medtronic PLC 5.57 5.61 5.66 5.82 5.88 5.85 6.05 6.13 6.12 5.77 5.56 5.64 5.72 5.99 6.52 6.50 6.51 6.54 6.65 6.70 6.62
UnitedHealth Group Inc. 35.98 32.10 32.18 31.60 31.35 31.81 33.07 32.33 32.16 31.81 31.77 30.94 30.76 29.64 30.80 30.30 29.91 27.60 — — —

Based on: 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Q1 2024 Calculation
Net fixed asset turnover = (External revenuesQ1 2024 + External revenuesQ4 2023 + External revenuesQ3 2023 + External revenuesQ2 2023) ÷ Property and equipment, net
= (29,323 + 26,168 + 26,115 + 26,473) ÷ 2,979 = 36.28

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Net fixed asset turnover An activity ratio calculated as total revenue divided by net fixed assets. Humana Inc. net fixed asset turnover ratio improved from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024.

Total Asset Turnover

Humana Inc., total asset turnover calculation (quarterly data)

Microsoft Excel
Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Selected Financial Data (US$ in millions)
External revenues 29,323 26,168 26,115 26,473 26,549 22,279 22,627 23,615 23,967 21,088 20,730 20,469 20,590 18,848 19,361 19,006 18,786 16,145 16,105 16,131 16,006
Total assets 50,091 47,065 55,905 56,455 54,776 43,055 50,765 46,820 46,308 44,358 45,320 38,070 37,415 34,969 38,477 38,455 34,633 29,074 29,180 28,913 28,349
Long-term Activity Ratio
Total asset turnover1 2.16 2.24 1.81 1.73 1.74 2.15 1.80 1.91 1.86 1.87 1.78 2.08 2.08 2.17 1.90 1.82 1.94 2.21 — — —
Benchmarks
Total Asset Turnover, Competitors2
Abbott Laboratories 0.56 0.55 0.55 0.55 0.56 0.59 0.62 0.61 0.60 0.57 0.57 0.55 0.51 0.48 0.47 0.46 0.48 0.47 — — —
Cigna Group 1.34 1.27 1.26 1.23 1.23 1.25 1.24 1.17 1.15 1.11 1.09 1.07 1.06 1.02 0.97 0.96 0.99 0.98 — — —
CVS Health Corp. 1.44 1.43 1.38 1.35 1.38 1.41 1.36 1.33 1.28 1.25 1.21 1.20 1.18 1.16 1.14 1.12 1.13 1.15 — — —
Elevance Health Inc. 1.52 1.56 1.52 1.51 1.46 1.51 1.48 1.47 1.42 1.41 1.35 1.33 1.29 1.39 1.34 1.28 1.31 1.33 — — —
Intuitive Surgical Inc. 0.46 0.46 0.47 0.48 0.49 0.48 0.46 0.44 0.43 0.42 0.42 0.42 0.39 0.39 0.41 0.43 0.47 0.46 — — —
Medtronic PLC 0.35 0.34 0.33 0.33 0.35 0.35 0.35 0.35 0.34 0.32 0.29 0.29 0.30 0.32 0.33 0.34 0.34 0.34 0.34 0.34 0.33
UnitedHealth Group Inc. 1.32 1.34 1.26 1.23 1.18 1.31 1.29 1.32 1.33 1.34 1.30 1.29 1.27 1.30 1.31 1.28 1.29 1.38 — — —

Based on: 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Q1 2024 Calculation
Total asset turnover = (External revenuesQ1 2024 + External revenuesQ4 2023 + External revenuesQ3 2023 + External revenuesQ2 2023) ÷ Total assets
= (29,323 + 26,168 + 26,115 + 26,473) ÷ 50,091 = 2.16

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Total asset turnover An activity ratio calculated as total revenue divided by total assets. Humana Inc. total asset turnover ratio improved from Q3 2023 to Q4 2023 but then slightly deteriorated from Q4 2023 to Q1 2024.

Equity Turnover

Humana Inc., equity turnover calculation (quarterly data)

Microsoft Excel
Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Selected Financial Data (US$ in millions)
External revenues 29,323 26,168 26,115 26,473 26,549 22,279 22,627 23,615 23,967 21,088 20,730 20,469 20,590 18,848 19,361 19,006 18,786 16,145 16,105 16,131 16,006
Stockholders’ equity 16,130 16,262 16,949 16,834 16,577 15,311 16,254 15,490 15,319 16,080 16,260 14,843 14,190 13,728 15,768 14,416 12,355 12,037 11,601 11,872 10,841
Long-term Activity Ratio
Equity turnover1 6.70 6.48 5.98 5.82 5.74 6.04 5.62 5.77 5.63 5.15 4.96 5.34 5.48 5.54 4.65 4.86 5.44 5.35 — — —
Benchmarks
Equity Turnover, Competitors2
Abbott Laboratories 1.04 1.04 1.07 1.08 1.12 1.19 1.26 1.25 1.26 1.20 1.23 1.19 1.11 1.06 1.03 1.03 1.06 1.03 — — —
Cigna Group 4.97 4.20 4.13 4.07 4.09 4.00 3.98 3.88 3.81 3.66 3.56 3.40 3.36 3.16 3.24 3.24 3.39 3.36 — — —
CVS Health Corp. 4.86 4.66 4.66 4.65 4.62 4.53 4.45 4.08 4.05 3.87 3.82 3.79 3.81 3.86 3.86 3.87 4.01 4.00 — — —
Elevance Health Inc. 4.20 4.33 4.36 4.31 4.27 4.29 4.22 4.13 3.97 3.80 3.71 3.65 3.65 3.64 3.43 3.26 3.41 3.25 — — —
Intuitive Surgical Inc. 0.52 0.54 0.55 0.56 0.57 0.56 0.53 0.50 0.49 0.48 0.48 0.48 0.45 0.45 0.47 0.50 0.54 0.54 — — —
Medtronic PLC 0.62 0.61 0.60 0.59 0.59 0.60 0.60 0.61 0.61 0.59 0.55 0.56 0.56 0.57 0.60 0.61 0.61 0.61 0.61 0.61 0.60
UnitedHealth Group Inc. 4.33 4.14 4.22 4.19 4.10 4.14 4.19 4.18 4.06 3.98 3.95 3.92 3.94 3.90 3.85 3.87 4.29 4.17 — — —

Based on: 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Q1 2024 Calculation
Equity turnover = (External revenuesQ1 2024 + External revenuesQ4 2023 + External revenuesQ3 2023 + External revenuesQ2 2023) ÷ Stockholders’ equity
= (29,323 + 26,168 + 26,115 + 26,473) ÷ 16,130 = 6.70

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Equity turnover An activity ratio calculated as total revenue divided by shareholders’ equity. Humana Inc. equity turnover ratio improved from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024.