---
title: Humana (HUM) — intrinsic value and fair price
canonical: https://sweetvaluelab.com/stocks/hum
ticker: HUM
as_of: 2026-10-17
sector: Healthcare
industry: Medical - Healthcare Plans
---
# Humana (HUM)

Humana (HUM) closed at $413.33 on Oct 16, 2026, undervalued by 2% vs its model value of $423.61 (from a five-year discounted cash flow).

## Key figures

| Figure | Value |
| --- | ---: |
| Last close | $413.33 (Oct 16, 2026) |
| Model value (from a five-year discounted cash flow) | $423.61 |
| Price vs model | undervalued by 2% vs model |
| Range of that model | $245.89 – $1,239.57 |
| Market value | $49.6B |
| P/E (fiscal 2025) | 42.0 |
| Net margin (fiscal 2025) | 0.9% |
| Free cash flow (fiscal 2025) | $375.0M |
| Dividend yield (trailing twelve months) | 0.86% |
| Beta | 0.74 |
| Cost of capital (WACC) | 7.66% |
| Business classification | Mature & Stable (Moderate growth (~10% recent), Thin margins (0.9% net margin), Highly cyclical earnings) |

## On the stock lists

| List | Place | Figure | Page |
| --- | ---: | ---: | --- |
| Best performing this year | #28 | +61.3% | https://sweetvaluelab.com/lists/best-performing-this-year |

## Dividends

| Figure | Value |
| --- | ---: |
| Trailing dividend yield | 0.86% |
| Dividends per share, last 12 months | $3.54 |
| Dividends / free cash flow (fiscal 2025) | 114.7% |
| Raised | — |
| Growth over 5 years | 6.0% a year |
| Latest payment | $0.885, ex-date Jun 26, 2026, paid Jul 31, 2026 |

| Year of payments | Dividends per share |
| --- | ---: |
| To Jun 29, 2021 | $2.65 |
| To Jun 29, 2022 | $2.98 |
| To Jun 29, 2023 | $3.35 |
| To Jun 28, 2024 | $3.54 |
| To Jun 27, 2025 | $3.54 |
| Trailing twelve months (to Jun 26, 2026) | $3.54 |

## Valuation models

Each model's value per share and the role the engine gave it for this business. The headline above is one model's value; every other model is listed with its own, and each has a page of its own under the valuation. Computed Oct 17, 2026.

| Model | Role | Value per share | Low | High |
| --- | --- | ---: | ---: | ---: |
| DCF · Perpetuity growth · 5y | primary | $423.61 | $245.89 | $1,239.57 |
| DCF · Perpetuity growth · 10y | cross check | $476.93 | $287.22 | $1,334.84 |
| DCF · EBITDA exit · 5y | cross check | $469.73 | $310.05 | $658.20 |
| DCF · EBITDA exit · 10y | cross check | $508.08 | $333.91 | $741.49 |
| P/E · peers | cross check | $142.25 | $128.89 | $398.41 |
| P/E · own history | cross check | $208.61 | $176.01 | $234.89 |
| PEG | sanity check | $228.97 | $228.97 | $228.97 |
| EV/EBITDA · peers | cross check | $365.63 | $203.88 | $514.87 |
| EV/Revenue · peers | cross check | $413.59 | $282.37 | $657.57 |
| Earnings power value | cross check | $343.50 | $276.18 | $443.59 |
| Dividend discount | cross check | $109.41 | $73.11 | $174.33 |

## Insider activity (SEC Form 4)

No open-market insider buys or sales filed in the past 90 days.

| Date | Insider | Relationship | Transaction | Shares | Value |
| --- | --- | --- | --- | ---: | ---: |
| Sep 30, 2026 | HILZINGER KURT J | Director | Grant / award | 238 | $91,609.2 |
| Sep 1, 2026 | Nundy Shantanu | Chief Medical Officer | Grant / award | 2,549 | $0 |
| Aug 1, 2026 | Smith Paul John | Director | Grant / award | 544 | $0 |
| Aug 1, 2026 | Crawford Frederick John | Director | Grant / award | 544 | $0 |
| Jun 30, 2026 | HILZINGER KURT J | Director | Grant / award | 233 | $91,410.6 |

## Recent SEC filings

| Filed | Form | What | Filing |
| --- | --- | --- | --- |
| Oct 13, 2026 | 8-K | 7.01 Regulation FD Disclosure; 9.01 Financial Statements and Exhibits | https://www.sec.gov/Archives/edgar/data/49071/000004907126000060/hum-20261013.htm |
| Oct 9, 2026 | 8-K | 7.01 Regulation FD Disclosure | https://www.sec.gov/Archives/edgar/data/49071/000004907126000057/hum-20261009.htm |
| Sep 1, 2026 | 8-K | 7.01 Regulation FD Disclosure | https://www.sec.gov/Archives/edgar/data/49071/000004907126000052/hum-20260901.htm |
| Jul 29, 2026 | 10-Q | Quarterly report | https://www.sec.gov/Archives/edgar/data/49071/000004907126000050/hum-20260630.htm |
| Jul 29, 2026 | 8-K | 5.02 Departure/Election of Directors or Officers; 9.01 Financial Statements and Exhibits | https://www.sec.gov/Archives/edgar/data/49071/000004907126000047/hum-20260728.htm |

## Superinvestors holding it (latest 13F)

| Manager | Quarter | Shares | Value |
| --- | --- | ---: | ---: |
| Dodge & Cox | 2026-06-30 | 10,940,380 | $4.3B |
| Richard Pzena | 2026-06-30 | 4,403,136 | $1.7B |
| Soros | 2026-06-30 | 33,228 | $13.2M |
| Bridgewater | 2026-06-30 | 9,152 | $3.6M |

4 tracked managers in all.

## About

Humana Inc., a prominent health and well-being enterprise, operates across the United States through its various subsidiary companies. Its operational structure is divided into three main segments: Retail, Group and Specialty, and Healthcare Services. The firm provides a wide array of medical and supplementary insurance plans directly to individual consumers. Furthermore, Humana collaborates with government entities; it holds a contract with the Centers for Medicare and Medicaid Services (CMS) to manage the Limited Income Newly Eligible Transition (LI NET) prescription drug program. The company also secures agreements with numerous states to deliver Medicaid, dual-eligible, and long-term care support benefits. For employer groups and individuals, Humana furnishes fully insured commercial medical and specialized health coverage, which encompasses dental, vision, and other ancillary health…

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Source: https://sweetvaluelab.com/stocks/hum (SweetValueLab, free, no account). Prices and statements from Financial Modeling Prep; filings from SEC EDGAR. Research and educational data, not investment advice; nothing here is a recommendation to buy, sell or hold any security.