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Humana (HUM) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 6, 2026 · Humana (HUM) Q3 2026 earnings results →
Q3 2026 Revenue up 26% year over year to $41.2B · 0¢ of every $1 of revenue kept as net profit · operating margin 0.2%
Humana made $41.2B in Q3 2026 (+26% Y/Y). Operating margin 0.2%, net earnings $161M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 6, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $41.2B in Q3 2026, up 26% year over year and up 1% from the previous quarter.
Operating profit was $0.07B, a 0.2% margin (down 1.0 points year over year). Operating profit fell $0.33B even though revenue rose $8.5B versus Q3 2025, so costs grew faster than sales. Total costs grew 27% against revenue growth of 26%. The fastest-growing cost line was Other operating costs (+30%). Net earnings were $0.16B, down 17% year over year. The effective tax rate was 19.9%. Non-operating items added $0.13B, 63% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $2.2B (up 123% year over year), 1343% of net earnings. Non-cash charges added back $0.16B of depreciation and amortization and $0.07B of share-based compensation. Working capital and other items added $1.8B. Capital expenditures of $0.14B left free cash flow of $2.0B.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 6, 2026 | $41.2B | +26% | 0.2% | $161M | $2.2B |
| Q2 2026 | 10-Q | Jul 29, 2026 | $40.9B | +26% | 3.3% | $693M | $2.0B |
| Q1 2026 | 10-Q | Apr 29, 2026 | $39.6B | +24% | 4.4% | $1.2B | $1.3B |
| Q4 2025 | 10-K | Feb 19, 2026 | $32.5B | +11% | -2.5% | −$776M | −$1.7B |
| Q3 2025 | 10-Q | Nov 5, 2025 | $32.6B | +11% | 1.2% | $194M | $971M |
| Q2 2025 | 10-Q | Jul 30, 2025 | $32.4B | +10% | 3.4% | $543M | $1.3B |
| Q1 2025 | 10-Q | Apr 30, 2025 | $32.1B | +8% | 6.3% | $1.2B | $331M |
Charts
Interactive views
The same charts as the app — open one to draw it.
💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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Customers and suppliers named in filings
Sells to
- U.S. government — 83% of its revenue · Stated in 10-K (sentence) · source
- Medicare & Medicaid — 14% of its revenue · Stated in 10-K (sentence) · source
Buys from
- SLQT — 39% of the supplier’s revenue · Stated in 10-K (sentence) · source
- SYRA — 37% of the supplier’s revenue · Stated in 10-K (sentence) · source
- EHTH — 35% of the supplier’s revenue · Stated in 10-K (customer table) · source
About Humana
Headquartered in Louisville, Kentucky, Humana Inc. and its subsidiaries, referred to throughout this document as “we,” “us,” “our,” the “Company” or “Humana,” is committed to putting health first – for our teammates, our customers, and our company. Through our Humana insurance services, and our CenterWell health care services, we make it easier for the millions of people we serve to achieve their best health – delivering the care and service they need, when they need it. These efforts are leading to a better quality of life for Medicare and Medicaid participants, families, individuals, military service personnel, and communities at large.
In its own words, from its 10-K, filed Feb 19, 2026.
Humana against its Hospital & Medical Service Plans peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +26% against the peers' median +6%. Operating margin: 0.2% against the peers' median 1.0%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| HUM Humana | Q3 2026 | $41.2B | +26% | 0.2% |
| UNH UnitedHealth Group | Q3 2026 | $112.7B | -0.4% | 5.8% |
| CI Cigna | Q3 2026 | $73.7B | +6% | 3.3% |
| ELV Elevance Health | Q3 2026 | $51.4B | +1% | 2.5% |
| CNC Centene | Q3 2026 | $50.6B | +2% | -0.6% |
| MOH Molina Healthcare | Q3 2026 | $11.1B | -3% | 1.0% |
| OSCR Oscar Health | Q3 2026 | $5.1B | +72% | 3.5% |
| ALHC Alignment Healthcare | Q3 2026 | $1.4B | +37% | -0.3% |
| CLOV Clover Health Investments | Q3 2026 | $759M | +53% | 0.8% |
Source: Humana 10-Q on SEC EDGAR · CIK 49071 · Hospital & Medical Service Plans
Guidance and outlook
13F: who owns HUM and who is buying
More on HUM
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results