HUM Humana
FY2025 10-K
Humana (HUM) filed its fiscal year 2025 10-K annual report with the SEC on Feb 19, 2026. This page provides AI-powered analysis of the filing, including business overview, management discussion, risk factors, and key financial metrics from XBRL data.
AI Filing AnalysisFY2025 10-K
Business Overview
- • Core business model: Integrated health insurance services primarily delivering Medicare Advantage and Medicaid plans with complementary healthcare services via CenterWell
- • New emphasis on Medicare Advantage individual plans covering 5.2 million members, including approx. 1.0 million in Florida generating $17.8B premiums (20% of individual MA revenue)
Management Discussion & Analysis
- • Revenue $129.7B, up 10.1% YoY; premiums $122.8B (+9.6%), services $5.8B (+31.6%), investment income down 17.9% to $1.0B
- • Net income $1.2B, flat YoY (-0.9%); operating margin 2.1% (operating income $2.7B on $129.7B revenue) vs 2.2% in 2024
Risk Factors
- • CMS 2025 Medicare Advantage Star Ratings declined, risking lower 2026 quality bonus payments and revenues due to pending lawsuit outcome
- • Exposure to geopolitical climate risk from frequent/intense catastrophes including pandemics and hurricanes affecting medical cost trends
Financial SummaryXBRL
Revenue
$129.7B
Net Income
$1.2B
Operating Margin
2.1%
Net Margin
0.9%
ROE
6.7%
Total Assets
$48.9B
EPS (Diluted)
$9.84
Operating Cash Flow
$921M
Source: XBRL data from Humana FY2025 10-K filing on SEC EDGAR. All figures in USD.
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