Stock Analysis on Net
Stock Analysis on Net

Humana Inc. (NYSE:HUM)

$22.49

This company has been moved to the archive! The financial data has not been updated since October 30, 2024.

Operating Profit Margin
since 2005

Microsoft Excel

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Calculation

Humana Inc., operating profit margin, long-term trends, calculation

Microsoft Excel
Operating profit margin = 100 × Income from operations1 ÷ External revenues1
Dec 31, 2023 = 100 × ÷
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Dec 31, 2005 = 100 × ÷

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).

1 US$ in millions

The financial data reveals several notable trends in the operational and revenue performance over the analyzed periods.

Income from Operations
The income from operations displayed an overall upward trajectory from 2005 to 2023, increasing from $461 million to $4,013 million. This demonstrates significant growth in the company's profitability from its core operations over the long term. However, the income figures also exhibit volatility, with noticeable declines in certain years such as 2008, 2012, 2016, and 2021. Notably, the highest income was recorded in 2020 at $4,986 million, followed by a decline in 2021 and then a recovery in subsequent years. This fluctuation may indicate periods of operational challenges or external factors impacting earnings.
External Revenues
External revenues experienced consistent growth throughout the period, increasing steadily from $14,275 million in 2005 to $105,305 million in 2023. This represents substantial expansion in sales or service volume, reflecting strong market demand or business scaling. The year-over-year increases generally suggest successful revenue generation strategies and market penetration, with particularly strong growth observed after 2014.
Operating Profit Margin
The operating profit margin showed variability across the years, fluctuating between 3.22% and 7.99%. Margins were relatively modest in the early years but peaked at 7.99% in 2017, indicating a period of improved cost control or enhanced operational efficiency. Post-2017, margins declined again, stabilizing around 3.8-4.1% through 2023. This decline despite increasing revenues suggests either rising expenses or pricing pressures affecting profitability percentages. The margin variability highlights the challenges in maintaining operational leverage amidst growth.

In summary, the data indicates strong revenue growth accompanied by increasing absolute operational income, albeit with cyclical fluctuations in profitability margins. The fluctuations in income from operations and margins suggest periodic operational or market challenges, though the overall trend underscores a growing enterprise with an expanding market presence. Maintaining or improving operating margins alongside revenue growth remains a key focus area.

Comparison to Competitors

Humana Inc., operating profit margin, long-term trends, comparison to competitors

Microsoft Excel
Humana Inc. Abbott Laboratories Intuitive Surgical Inc. Medtronic PLC UnitedHealth Group Inc.
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Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).