Humana (HUM) FY2020 results: revenue $77.2 billion, up 18.9% on the year
Humana Inc. (HUM) reported revenue of $77.2 billion for fiscal 2020, the year ended 31 December 2020, up 18.9% on the year before. Net income was $3.4 billion, up 24.4%, and diluted earnings per share $25.31. The figures are the company's own, from the 10-K it filed with the SEC on 18 February 2021.
Revenue
$77.2 billion
+18.9% on the year
FY2013FY2020
Operating margin
6.5%
4.9% a year earlier
FY2013FY2020
Net income
$3.4 billion
+24.4% on the year
FY2013FY2020
Diluted EPS
$25.31
+25.9% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
77,155
64,888
56,912
+18.9%
Selling, general and administrative
10,052
7,381
7,525
+36.2%
Operating income
4,986
3,192
3,100
+56.2%
Operating margin
6.5%
4.9%
5.4%
Interest expense
283
242
218
+16.9%
Pre-tax income
4,674
3,470
2,074
+34.7%
Income tax
1,307
763
391
+71.3%
Effective tax rate
28.0%
22.0%
18.9%
Net income
3,367
2,707
1,683
+24.4%
Net margin
4.4%
4.2%
3.0%
Diluted EPS
$25.31
$20.10
$12.16
+25.9%
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
5,639
5,284
2,173
+6.7%
Capital expenditure
964
736
612
+31.0%
Free cash flow
4,675
4,548
1,561
+2.8%
Free cash flow margin
6.1%
7.0%
2.7%
Cash from investing
-3,065
-1,278
-3,087
Cash from financing
-1,955
-2,295
-785
Depreciation and amortisation
616
575
444
+7.1%
Share-based compensation
181
163
137
+11.0%
Buybacks
1,820
1,070
1,090
+70.1%
Dividends paid
323
291
265
+11.0%
Dividend per share
$2.43
$2.15
$1.90
+13.0%
Diluted shares, weighted
133m
135m
138m
-1.3%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
13,728
12,037
10,161
+14.0%
Non-controlling interest
0.0
n/a
n/a
Debt
6,660
5,666
6,069
+17.5%
Operating lease liabilities
355
332
n/a
+6.9%
Other liabilities
14,226
11,039
9,183
+28.9%
Total liabilities and equity
34,969
29,074
25,413
+20.3%
Fixed assets
2,371
1,955
1,735
+21.3%
Goodwill
4,447
3,928
3,897
+13.2%
Intangible assets
329
177
245
+85.9%
Investments
13,766
11,378
10,437
+21.0%
Cash and equivalents
4,673
4,054
2,343
+15.3%
Receivables
1,138
1,056
1,015
+7.8%
Other assets
8,245
6,526
5,741
+26.3%
Total assets
34,969
29,074
25,413
+20.3%
10-K for the year ended 31 December 2020, filed 18 February 2021: the filing.