Humana (HUM) FY2014 results: revenue $48.5 billion, up 17.4% on the year
Humana Inc. (HUM) reported revenue of $48.5 billion for fiscal 2014, the year ended 31 December 2014, up 17.4% on the year before. Net income was $1.1 billion, down 6.8%, and diluted earnings per share $7.36. The figures are the company's own, from the 10-K it filed with the SEC on 18 February 2015.
Revenue
$48.5 billion
+17.4% on the year
FY2007FY2014
Operating margin
4.9%
5.0% a year earlier
FY2007FY2014
Net income
$1.1 billion
-6.8% on the year
FY2007FY2014
Diluted EPS
$7.36
-4.8% on the year
FY2007FY2014
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Revenue
48,500
41,313
39,126
+17.4%
Selling, general and administrative
7,639
6,355
5,830
+20.2%
Operating income
2,362
2,061
2,016
+14.6%
Operating margin
4.9%
5.0%
5.2%
Interest expense
192
140
105
+37.1%
Pre-tax income
2,170
1,921
1,911
+13.0%
Income tax
1,023
690
689
+48.3%
Effective tax rate
47.1%
35.9%
36.1%
Net income
1,147
1,231
1,222
-6.8%
Net margin
2.4%
3.0%
3.1%
Diluted EPS
$7.36
$7.73
$7.47
-4.8%
$ 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
FY2014
FY2013
FY2012
On the year
Last 8 years
Operating cash flow
1,618
1,716
1,923
-5.7%
Capital expenditure
528
441
410
+19.7%
Free cash flow
1,090
1,275
1,513
-14.5%
Free cash flow margin
2.2%
3.1%
3.9%
Cash from investing
-63.0
-1,182
-1,965
Cash from financing
-758
-702
-29.0
Depreciation and amortisation
328
309
338
+6.1%
Share-based compensation
98.0
92.0
82.0
+6.5%
Buybacks
872
531
518
+64.2%
Dividends paid
172
168
165
+2.4%
Dividend per share
$1.11
$1.07
$1.03
+3.7%
Diluted shares, weighted
156m
159m
163m
-2.1%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
9,646
9,316
8,847
+3.5%
Debt
4,159
3,003
2,935
+38.5%
Other liabilities
9,722
8,416
8,197
+15.5%
Total liabilities and equity
23,527
20,735
19,979
+13.5%
Fixed assets
1,228
1,218
1,098
+0.8%
Goodwill
3,231
3,253
3,640
-0.7%
Intangible assets
440
693
731
-36.5%
Investments
9,547
9,800
9,847
-2.6%
Cash and equivalents
1,935
1,138
1,306
+70.0%
Receivables
1,053
950
733
+10.8%
Other assets
6,093
3,683
2,624
+65.4%
Total assets
23,527
20,735
19,979
+13.5%
10-K for the year ended 31 December 2014, filed 18 February 2015: the filing.