Humana (HUM) FY2019 results: revenue $64.9 billion, up 14.0% on the year
Humana Inc. (HUM) reported revenue of $64.9 billion for fiscal 2019, the year ended 31 December 2019, up 14.0% on the year before. Net income was $2.7 billion, up 60.8%, and diluted earnings per share $20.10. The figures are the company's own, from the 10-K it filed with the SEC on 20 February 2020.
Revenue
$64.9 billion
+14.0% on the year
FY2012FY2019
Operating margin
4.9%
5.4% a year earlier
FY2012FY2019
Net income
$2.7 billion
+60.8% on the year
FY2012FY2019
Diluted EPS
$20.10
+65.3% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
64,888
56,912
53,767
+14.0%
Selling, general and administrative
7,381
7,525
6,567
-1.9%
Operating income
3,192
3,100
4,262
+3.0%
Operating margin
4.9%
5.4%
7.9%
Interest expense
242
218
242
+11.0%
Pre-tax income
3,470
2,074
4,020
+67.3%
Income tax
763
391
1,572
+95.1%
Effective tax rate
22.0%
18.9%
39.1%
Net income
2,707
1,683
2,448
+60.8%
Net margin
4.2%
3.0%
4.6%
Diluted EPS
$20.10
$12.16
$16.81
+65.3%
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
5,284
2,173
4,051
+143.2%
Capital expenditure
736
612
524
+20.3%
Free cash flow
4,548
1,561
3,527
+191.4%
Free cash flow margin
7.0%
2.7%
6.6%
Cash from investing
-1,278
-3,087
-2,941
Cash from financing
-2,295
-785
-945
Depreciation and amortisation
575
444
410
+29.5%
Share-based compensation
163
137
157
+19.0%
Buybacks
1,070
1,090
3,365
-1.8%
Dividends paid
291
265
220
+9.8%
Dividend per share
$2.15
$1.90
$1.49
+13.2%
Diluted shares, weighted
135m
138m
146m
-2.7%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
12,037
10,161
9,842
+18.5%
Debt
5,666
6,069
5,061
-6.6%
Operating lease liabilities
332
n/a
n/a
Other liabilities
11,039
9,183
12,275
+20.2%
Total liabilities and equity
29,074
25,413
27,178
+14.4%
Fixed assets
1,955
1,735
1,584
+12.7%
Goodwill
3,928
3,897
3,281
+0.8%
Intangible assets
177
245
226
-27.8%
Investments
11,378
10,437
12,302
+9.0%
Cash and equivalents
4,054
2,343
4,042
+73.0%
Receivables
1,056
1,015
854
+4.0%
Other assets
6,526
5,741
4,889
+13.7%
Total assets
29,074
25,413
27,178
+14.4%
10-K for the year ended 31 December 2019, filed 20 February 2020: the filing.