Humana (HUM) FY2011 results: revenue $36.8 billion, up 9.6% on the year
Humana Inc. (HUM) reported revenue of $36.8 billion for fiscal 2011, the year ended 31 December 2011, up 9.6% on the year before. Net income was $1.4 billion, up 29.1%, and diluted earnings per share $8.46. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2012.
Revenue
$36.8 billion
+9.6% on the year
FY2007FY2011
Operating margin
6.4%
5.5% a year earlier
FY2007FY2011
Net income
$1.4 billion
+29.1% on the year
FY2007FY2011
Diluted EPS
$8.46
+30.8% on the year
FY2007FY2011
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Revenue
36,832
33,596
30,743
+9.6%
Selling, general and administrative
5,395
4,380
4,014
+23.2%
Operating income
2,344
1,855
1,708
+26.4%
Operating margin
6.4%
5.5%
5.6%
Interest expense
109
105
106
+3.8%
Pre-tax income
2,235
1,750
1,602
+27.7%
Income tax
816
650
562
+25.5%
Effective tax rate
36.5%
37.2%
35.1%
Net income
1,419
1,099
1,040
+29.1%
Net margin
3.9%
3.3%
3.4%
Diluted EPS
$8.46
$6.47
$6.15
+30.8%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Operating cash flow
2,079
2,242
1,422
-7.3%
Capital expenditure
346
222
185
+55.6%
Free cash flow
1,733
2,019
1,237
-14.2%
Free cash flow margin
4.7%
6.0%
4.0%
Cash from investing
-1,358
-1,811
-1,859
Cash from financing
-1,017
-371
80.0
Depreciation and amortisation
303
263
250
+15.2%
Share-based compensation
67.0
62.9
65.9
+6.4%
Buybacks
541
108
23.0
+400.9%
Dividends paid
82.0
0.0
0.0
Dividend per share
$0.75
$0.00
n/a
Diluted shares, weighted
168m
170m
169m
-1.2%
Balance sheet
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Shareholders' equity
8,063
6,924
5,776
+16.4%
Debt
1,965
2,078
1,678
-5.4%
Other liabilities
7,680
7,101
6,699
+8.2%
Total liabilities and equity
17,708
16,103
14,153
+10.0%
Fixed assets
912
815
679
+11.9%
Goodwill
2,740
2,568
1,993
+6.7%
Intangible assets
435
399
n/a
+8.9%
Investments
9,453
8,372
7,497
+12.9%
Cash and equivalents
1,377
1,673
1,614
-17.7%
Receivables
1,034
959
824
+7.8%
Other assets
1,757
1,316
1,547
+33.5%
Total assets
17,708
16,103
14,153
+10.0%
10-K for the year ended 31 December 2011, filed 24 February 2012: the filing.