Company Valuation: Humana Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 59,622 64,843 56,361 30,550 30,806 46,377 - -
Change - 8.76% -13.08% -45.8% 0.84% 50.55% - -
Enterprise Value (EV) 1 68,722 70,908 63,323 40,050 38,975 53,884 52,788 50,711
Change - 3.18% -10.7% -36.75% -2.68% 38.25% -2.03% -3.93%
P/E 20.5x 23.2x 22.9x 25.4x 26x 53.9x 23.8x 15.4x
PBR 3.73x 4.18x 3.44x 1.87x 1.75x 2.64x 2.34x 2.03x
PEG - -8.91x -2.43x -0.5x -18.53x -2x 0x 0.3x
Capitalization / Revenue 0.72x 0.7x 0.53x 0.26x 0.24x 0.28x 0.28x 0.26x
EV / Revenue 0.83x 0.76x 0.6x 0.34x 0.3x 0.33x 0.31x 0.28x
EV / EBITDA 16.1x 13.8x 11.1x 9.97x 9.45x 19x 13x 9.12x
EV / EBIT 27.6x 16.1x 12.7x 11.3x 14.4x 24.9x 16.3x 10.4x
EV / FCF 72.6x 20.5x 21.3x 16.8x 104x 18.7x 16.3x 11.9x
FCF Yield 1.38% 4.89% 4.7% 5.97% 0.96% 5.36% 6.14% 8.39%
Dividend per Share 2 2.725 3.15 3.54 3.54 3.54 3.684 3.793 3.823
Rate of return 0.59% 0.62% 0.77% 1.4% 1.38% 0.95% 0.98% 0.99%
EPS 2 22.67 22.08 20 9.98 9.84 7.161 16.24 25.03
Distribution rate 12% 14.3% 17.7% 35.5% 36% 51.4% 23.4% 15.3%
Net sales 1 83,064 92,870 106,374 117,761 129,664 162,768 168,537 179,850
EBITDA 1 4,278 5,122 5,711 4,016 4,124 2,834 4,054 5,560
EBIT 1 2,488 4,413 4,999 3,543 2,704 2,160 3,235 4,868
Net income 1 2,933 2,806 2,489 1,207 1,188 885.9 2,017 3,012
Net Debt 1 9,100 6,065 6,962 9,500 8,169 7,506 6,410 4,334
Reference price 2 463.86 512.19 457.81 253.71 256.13 386.22 386.22 386.22
Nbr of stocks (in thousands) 128,534 126,600 123,111 120,411 120,273 120,080 - -
Announcement Date 2/2/22 2/1/23 1/25/24 2/11/25 2/11/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
20.44x0.86x13.02x2.44% 338B
19.83x0.57x10.78x1.68% 89.12B
11.03x0.33x7.11x2.24% 72.74B
53.93x0.33x19.01x0.95% 46.38B
16.97x0.14x9.57x-.--% 32.16B
68.16x0.21x12.94x-.--% 10.46B
78.99x0.78x28.84x-.--% 2.37B
21.09x1.39x8.07x-.--% 2.08B
46.09x0.25x8.4x-.--% 1.73B
Average 37.39x 0.54x 13.08x 0.81% 66.15B
Weighted average by Cap. 22.77x 0.66x 12.28x 1.99%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield

-40%: Exceptional extension
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