Total Asset Turnover
since 2005
Calculation
Humana Inc., total asset turnover, long-term trends, calculation
| Total asset turnover | = | External revenues1 | ÷ | Total assets1 | |
|---|---|---|---|---|---|
| Dec 31, 2023 | 2.24 | = | 105,305) | ÷ | 47,065) |
| Dec 31, 2022 | 2.15 | = | 92,488) | ÷ | 43,055) |
| Dec 31, 2021 | 1.87 | = | 82,877) | ÷ | 44,358) |
| Dec 31, 2020 | 2.17 | = | 76,001) | ÷ | 34,969) |
| Dec 31, 2019 | 2.21 | = | 64,387) | ÷ | 29,074) |
| Dec 31, 2018 | 2.22 | = | 56,398) | ÷ | 25,413) |
| Dec 31, 2017 | 1.96 | = | 53,362) | ÷ | 27,178) |
| Dec 31, 2016 | 2.13 | = | 53,990) | ÷ | 25,396) |
| Dec 31, 2015 | 2.18 | = | 53,815) | ÷ | 24,705) |
| Dec 31, 2014 | 2.05 | = | 48,123) | ÷ | 23,466) |
| Dec 31, 2013 | 1.97 | = | 40,938) | ÷ | 20,735) |
| Dec 31, 2012 | 1.94 | = | 38,735) | ÷ | 19,979) |
| Dec 31, 2011 | 2.06 | = | 36,466) | ÷ | 17,708) |
| Dec 31, 2010 | 2.08 | = | 33,539) | ÷ | 16,103) |
| Dec 31, 2009 | 2.17 | = | 30,664) | ÷ | 14,153) |
| Dec 31, 2008 | 2.20 | = | 28,726) | ÷ | 13,042) |
| Dec 31, 2007 | 1.94 | = | 24,976) | ÷ | 12,879) |
| Dec 31, 2006 | 2.09 | = | 21,125) | ÷ | 10,127) |
| Dec 31, 2005 | 2.08 | = | 14,275) | ÷ | 6,870) |
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 trajectory between 2005 and 2023 is characterized by substantial growth in both external revenues and total assets, with a consistently high level of asset efficiency. External revenues expanded from 14,275 million USD in 2005 to 105,305 million USD by 2023, representing a significant increase in scale. During the same period, total assets grew from 6,870 million USD to 47,065 million USD. The total asset turnover ratio remained relatively stable over these two decades, typically oscillating between 1.9 and 2.2, indicating a disciplined relationship between asset acquisition and revenue generation.
- Revenue and Asset Growth Patterns
- External revenues demonstrated an uninterrupted upward trend for the majority of the period, with a notable acceleration in growth starting around 2018. Total assets generally mirrored this growth, although the expansion was more gradual. A slight contraction in total assets was observed in 2018 and 2022, which contributed to temporary spikes in the asset turnover ratio.
- Total Asset Turnover Volatility and Stability
- The total asset turnover ratio exhibited remarkable resilience, remaining above 1.87 throughout the entire period. The ratio reached a relative peak of 2.22 in 2018 and a period low of 1.87 in 2021. The dip in 2021 coincides with a significant increase in total assets to 44,358 million USD, suggesting a period of asset accumulation that had not yet fully translated into proportional revenue growth.
- Efficiency Analysis
- The recovery of the total asset turnover ratio to 2.24 by December 31, 2023, represents the highest efficiency level in the analyzed period. This indicates that the company has successfully leveraged its asset base to generate increasing volumes of revenue, achieving a peak in operational efficiency as of the final reporting date.
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Comparison to Competitors
Humana Inc., total asset turnover, long-term trends, comparison to competitors
| Humana Inc. | Abbott Laboratories | Elevance Health Inc. | Intuitive Surgical Inc. | Medtronic PLC | UnitedHealth Group Inc. | |
|---|---|---|---|---|---|---|
| Dec 31, 2023 | 2.24 | 0.55 | 1.56 | 0.46 | 0.34 | 1.34 |
| Dec 31, 2022 | 2.15 | 0.59 | 1.51 | 0.48 | 0.35 | 1.31 |
| Dec 31, 2021 | 1.87 | 0.57 | 1.41 | 0.42 | 0.32 | 1.34 |
| Dec 31, 2020 | 2.17 | 0.48 | 1.39 | 0.39 | 0.32 | 1.30 |
| Dec 31, 2019 | 2.21 | 0.47 | 1.33 | 0.46 | 0.34 | 1.38 |
| Dec 31, 2018 | 2.22 | 0.46 | 1.28 | 0.47 | 0.33 | 1.48 |
| Dec 31, 2017 | 1.96 | 0.36 | 1.26 | 0.54 | 0.30 | 1.44 |
| Dec 31, 2016 | 2.13 | 0.40 | 1.29 | 0.42 | 0.29 | 1.50 |
| Dec 31, 2015 | 2.18 | 0.49 | 1.27 | 0.49 | 0.19 | 1.40 |
| Dec 31, 2014 | 2.05 | 0.49 | 1.18 | 0.54 | 0.45 | 1.50 |
| Dec 31, 2013 | 1.97 | 0.51 | 1.18 | 0.57 | 0.48 | 1.49 |
| Dec 31, 2012 | 1.94 | 0.59 | 1.03 | 0.54 | 0.49 | 1.36 |
| Dec 31, 2011 | 2.06 | 0.64 | 1.15 | 0.57 | 0.52 | 1.49 |
| Dec 31, 2010 | 2.08 | 0.59 | 1.15 | 0.59 | 0.56 | 1.48 |
| Dec 31, 2009 | 2.17 | 0.59 | 1.17 | 0.58 | 0.62 | 1.47 |
| Dec 31, 2008 | 2.20 | 0.70 | 1.27 | 0.59 | 0.61 | 1.44 |
| Dec 31, 2007 | 1.94 | 0.65 | 1.15 | 0.58 | 0.63 | 1.46 |
| Dec 31, 2006 | 2.09 | 0.62 | 1.08 | 0.55 | 0.57 | 1.46 |
| Dec 31, 2005 | 2.08 | 0.77 | 0.87 | 0.45 | 0.61 | 1.08 |
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).
Comparison to Sector (Health Care Equipment & Services)
Humana Inc., total asset turnover, long-term trends, comparison to sector (health care equipment & services)
| Humana Inc. | Health Care Equipment & Services | |
|---|---|---|
| Dec 31, 2023 | 2.24 | 1.10 |
| Dec 31, 2022 | 2.15 | 1.06 |
| Dec 31, 2021 | 1.87 | 1.02 |
| Dec 31, 2020 | 2.17 | 0.97 |
| Dec 31, 2019 | 2.21 | 0.98 |
| Dec 31, 2018 | 2.22 | 0.98 |
| Dec 31, 2017 | 1.96 | 0.89 |
| Dec 31, 2016 | 2.13 | 0.92 |
| Dec 31, 2015 | 2.18 | 0.85 |
| Dec 31, 2014 | 2.05 | 1.05 |
| Dec 31, 2013 | 1.97 | 1.04 |
| Dec 31, 2012 | 1.94 | 0.94 |
| Dec 31, 2011 | 2.06 | 1.02 |
| Dec 31, 2010 | 2.08 | 1.00 |
| Dec 31, 2009 | 2.17 | 1.03 |
| Dec 31, 2008 | 2.20 | 1.09 |
| Dec 31, 2007 | 1.94 | 1.06 |
| Dec 31, 2006 | 2.09 | 1.03 |
| Dec 31, 2005 | 2.08 | 0.88 |
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).
Comparison to Industry (Health Care)
Humana Inc., total asset turnover, long-term trends, comparison to industry (health care)
| Humana Inc. | Health Care | |
|---|---|---|
| Dec 31, 2023 | 2.24 | 0.63 |
| Dec 31, 2022 | 2.15 | 0.66 |
| Dec 31, 2021 | 1.87 | 0.62 |
| Dec 31, 2020 | 2.17 | 0.57 |
| Dec 31, 2019 | 2.21 | 0.57 |
| Dec 31, 2018 | 2.22 | 0.63 |
| Dec 31, 2017 | 1.96 | 0.56 |
| Dec 31, 2016 | 2.13 | 0.57 |
| Dec 31, 2015 | 2.18 | 0.55 |
| Dec 31, 2014 | 2.05 | 0.60 |
| Dec 31, 2013 | 1.97 | 0.58 |
| Dec 31, 2012 | 1.94 | 0.58 |
| Dec 31, 2011 | 2.06 | 0.61 |
| Dec 31, 2010 | 2.08 | 0.61 |
| Dec 31, 2009 | 2.17 | 0.55 |
| Dec 31, 2008 | 2.20 | 0.73 |
| Dec 31, 2007 | 1.94 | 0.71 |
| Dec 31, 2006 | 2.09 | 0.69 |
| Dec 31, 2005 | 2.08 | 0.66 |
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).