Humana Inc. (HUM) Balance Sheet
HUM balance sheet, 2025
December 31, 2025 · U.S. dollars$48.75B assets = $31.01B liabilities + $17.74B equity
Both columns are drawn to the same scale: what HUM owns equals what it owes plus shareholders’ equity. Hover a block for its value.
HUM financial health
Current ratio0.72
Tight · current assets cover current liabilities 0.72×
Debt / equity0.73
Moderate leverage · $0.73 of debt for each $1 of equity
Equity / assets36.2%
Balanced · of assets funded by shareholders
Cash / debt32.5%
Low cash cover · cash & short-term investments vs total debt
Goodwill & intangibles22.2%
Mostly tangible · of total assets
Descriptive bands, not a rating. Fiscal 2025.
HUM balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $25.81B2016 | $48.75B2025 | +7.3%/yr | |
| Total liabilities | $15.13B2016 | $31.01B2025 | +8.3%/yr | |
| Shareholders’ equity | $10.69B2016 | $17.66B2025 | +5.7%/yr | |
| Cash & short-term investments | $3.88B2016 | $4.20B2025 | +0.9%/yr | |
| Total debt | $4.09B2016 | $12.94B2025 | +13.6%/yr | |
| Net cash (debt) | −$215.0M2016 | −$8.74B2025 | −$8.5B | |
| Working capital | −$747.0M2016 | −$2.84B2025 | −$2.1B | |
| Book value per share | $70.802016 | $146.142025 | +8.4%/yr | |
| Current ratio | 0.862016 | 0.722025 | −0.14 | |
| Debt / equity | 0.382016 | 0.732025 | +0.35 | |
| Shares outstanding | 150.9M2016 | 120.8M2025 | −2.4%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
HUM assets
Cash & ST investmentsReceivablesInventoryOther currentPP&EGoodwill & intangiblesLT investmentsOther non-current
HUM liabilities and equity
Current liabilitiesLong-term debtOther long-term liabilitiesEquity
HUM debt vs cash
Total debtCash & ST investmentsNet cash (debt)
Debt includes short- and long-term borrowings and, where reported, lease obligations.
HUM balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $4.20B | $2.22B | $4.69B | $5.06B | $3.39B | $4.67B | $4.05B | $2.34B | $4.04B | $3.88B |
| Cash & equivalents | $4.20B | $2.22B | $4.69B | $5.06B | $3.39B | $4.67B | $4.05B | $2.34B | $4.04B | $3.88B |
| Short-term investments | $15.70B | $18.21B | $16.63B | $13.88B | $13.19B | $12.55B | $10.97B | $10.03B | $9.56B | $7.59B |
| Receivables | $3.27B | $2.70B | $2.04B | $1.67B | $1.81B | $1.14B | $1.06B | $1.01B | $854.0M | $1.28B |
| Inventory | $0 | $0 | −$32.02B | −$27.86B | −$26.71B | −$24.78B | −$20.94B | −$3.56B | $0 | $0 |
| Other current assets | $0 | $0 | $32.02B | $27.86B | $26.71B | $24.78B | $20.94B | $3.56B | $0 | $0 |
| Total current assets | $7.47B | $4.92B | $6.73B | $6.74B | $5.21B | $5.81B | $5.11B | $3.36B | $4.90B | $4.70B |
| Property, plant & equipment (net) | $2.72B | $2.98B | $3.54B | $3.74B | $3.75B | $2.81B | $2.37B | $1.74B | $1.58B | $1.50B |
| Goodwill & intangible assets | $10.81B | $11.07B | $11.24B | $10.91B | $13.73B | $4.78B | $4.11B | $4.14B | $3.51B | $3.55B |
| Long-term investments | $16.83B | $19.33B | $17.75B | $15.01B | $14.11B | $2.38B | $1.47B | $1.46B | $2.75B | $2.20B |
| Other non-current assets | $10.92B | $8.00B | $7.63B | $7.34B | $7.95B | $19.30B | $15.99B | $14.65B | $13.95B | $13.86B |
| Total assets | $48.75B | $46.31B | $46.89B | $43.73B | $44.75B | $35.08B | $29.04B | $25.34B | $26.68B | $25.81B |
| Liabilities | ||||||||||
| Accounts payable | $9.81B | $10.27B | $10.07B | $9.08B | $8.10B | $7.95B | $5.74B | $4.55B | $3.84B | $4.56B |
| Short-term debt | $150.0M | $724.0M | $1.61B | $2.26B | $2.14B | $729.0M | $815.0M | $1.69B | $150.0M | $600.0M |
| Deferred revenue | $356.0M | $260.0M | $266.0M | $286.0M | $254.0M | $318.0M | $247.0M | $283.0M | $378.0M | $280.0M |
| Total current liabilities | $10.31B | $11.26B | $11.95B | $11.63B | $10.49B | $9.00B | $6.80B | $6.53B | $4.37B | $5.44B |
| Long-term debt | $12.37B | $11.14B | $10.21B | $9.03B | $10.54B | $6.06B | $4.97B | $4.38B | $4.77B | $3.79B |
| Other long-term liabilities | $8.33B | $7.47B | $8.41B | $7.69B | $7.61B | $6.29B | $5.24B | $4.28B | $7.70B | $5.89B |
| Total liabilities | $31.01B | $29.87B | $30.57B | $28.36B | $28.64B | $21.35B | $17.01B | $15.18B | $16.84B | $15.13B |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $33.0M | $33.0M | $33.0M | $33.0M | $33.0M | $33.0M | $33.0M | $33.0M | $33.0M | $33.0M |
| Retained earnings (deficit) | $29.07B | $28.32B | $27.54B | $25.49B | $23.09B | $20.52B | $17.48B | $15.07B | $13.67B | $11.45B |
| Treasury stock | — | — | — | — | −$10.16B | −$9.92B | −$8.46B | −$7.32B | −$6.33B | −$3.30B |
| Accumulated other comprehensive income | −$633.0M | −$1.07B | −$999.0M | −$1.30B | $42.0M | $391.0M | $156.0M | −$159.0M | $19.0M | −$66.0M |
| Minority interest | $80.0M | $70.0M | $56.0M | $59.0M | $23.0M | — | — | — | $0 | $0 |
| Total shareholders' equity | $17.66B | $16.38B | $16.26B | $15.31B | $16.08B | $13.73B | $12.04B | $10.16B | $9.84B | $10.69B |
| Key figures | ||||||||||
| Total debt | $12.94B | $12.26B | $12.27B | $11.75B | $13.22B | $7.14B | $6.11B | $6.07B | $4.92B | $4.09B |
| Net cash (debt) | −$8.74B | −$10.04B | −$7.58B | −$6.69B | −$9.83B | −$2.47B | −$2.06B | −$3.73B | −$878.0M | −$215.0M |
| Working capital | −$2.84B | −$6.33B | −$5.22B | −$4.90B | −$5.29B | −$3.19B | −$1.69B | −$3.17B | $524.0M | −$747.0M |
| Tangible book value | $6.84B | $5.30B | $5.02B | $4.40B | $2.35B | $8.95B | $7.93B | $6.02B | $6.33B | $7.13B |
| Book value per share | $146.14 | $135.48 | $130.68 | $120.47 | $124.27 | $103.21 | $89.34 | $73.42 | $67.60 | $70.80 |
| Shares outstanding | 120.8M | 120.9M | 124.4M | 127.1M | 129.4M | 133.0M | 134.7M | 138.4M | 145.6M | 150.9M |
| Current ratio | 0.72 | 0.44 | 0.56 | 0.58 | 0.50 | 0.65 | 0.75 | 0.51 | 1.12 | 0.86 |
| Quick ratio | 0.72 | 0.44 | 0.56 | 0.58 | 0.50 | 0.65 | 0.75 | 0.51 | 1.12 | 0.95 |
| Debt / equity | 0.73 | 0.75 | 0.75 | 0.77 | 0.82 | 0.52 | 0.51 | 0.60 | 0.50 | 0.38 |
| Equity / assets | 36.2% | 35.4% | 34.7% | 35.0% | 35.9% | 39.1% | 41.4% | 40.1% | 36.9% | 41.4% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $23.87B | $21.96B | $4.20B | $5.39B | $4.04B | $4.25B | $2.22B | $5.12B | $5.50B | $5.91B | $4.69B | $15.15B |
| Cash & equivalents | $6.89B | $4.95B | $4.20B | $5.39B | $4.04B | $4.25B | $2.22B | $5.12B | $5.50B | $5.91B | $4.69B | $15.15B |
| Short-term investments | $16.98B | $17.01B | $15.70B | $16.74B | $17.67B | $17.89B | $18.21B | $19.03B | $17.42B | $16.70B | $16.63B | $15.14B |
| Receivables | $5.70B | $5.22B | $3.27B | $2.68B | $4.50B | $4.46B | $2.70B | $2.14B | $4.09B | $3.92B | $2.04B | $1.82B |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | −$36.95B | −$36.72B | −$32.02B | −$40.08B |
| Other current assets | $10.52B | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $36.95B | $36.72B | $32.02B | $40.08B |
| Total current assets | $40.09B | $27.18B | $7.47B | $8.07B | $8.54B | $8.71B | $4.92B | $7.26B | $9.59B | $9.84B | $6.73B | $16.97B |
| Property, plant & equipment (net) | $2.10B | $2.17B | $2.72B | $2.27B | $2.36B | $2.43B | $2.98B | $2.69B | $2.82B | $2.98B | $3.54B | $3.34B |
| Goodwill & intangible assets | $10.48B | $10.49B | $10.81B | $10.85B | $11.01B | $11.06B | $11.07B | $11.24B | $11.23B | $11.24B | $11.24B | $11.30B |
| Long-term investments | $18.25B | $18.27B | $16.83B | $17.80B | $18.73B | $18.96B | $19.33B | $20.16B | $18.55B | $17.81B | $17.75B | $16.28B |
| Other non-current assets | $0 | $0 | $10.92B | $10.73B | $9.71B | $9.78B | $8.00B | $8.65B | $7.90B | $8.23B | $7.63B | $8.01B |
| Total assets | $57.20B | $55.28B | $48.75B | $49.72B | $50.36B | $50.93B | $46.31B | $50.01B | $50.09B | $50.09B | $46.89B | $55.91B |
| Liabilities | ||||||||||||
| Accounts payable | $12.88B | $19.22B | $9.81B | $10.09B | $11.06B | $11.45B | $10.27B | $11.12B | $11.45B | $11.73B | $10.07B | $10.20B |
| Short-term debt | $2.27B | $1.72B | $150.0M | $0 | $0 | $577.0M | $724.0M | $1.14B | $1.15B | $822.0M | $1.61B | $2.25B |
| Deferred revenue | $249.0M | $269.0M | $356.0M | $265.0M | $274.0M | $265.0M | $260.0M | $195.0M | $313.0M | $301.0M | $266.0M | $7.54B |
| Total current liabilities | $23.01B | $21.51B | $10.31B | $10.35B | $11.33B | $12.29B | $11.26B | $12.46B | $12.91B | $12.85B | $11.95B | $19.98B |
| Long-term debt | $11.98B | $12.27B | $12.37B | $12.61B | $12.59B | $12.73B | $11.14B | $11.89B | $11.75B | $12.39B | $10.21B | $9.48B |
| Other long-term liabilities | $2.93B | $2.85B | $8.33B | $8.18B | $8.14B | $8.09B | $7.47B | $8.04B | $8.71B | $8.66B | $8.41B | $9.44B |
| Total liabilities | $37.92B | $36.63B | $31.01B | $31.14B | $32.06B | $33.11B | $29.87B | $32.38B | $33.37B | $33.91B | $30.57B | $38.90B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $33.0M | $33.0M | $33.0M | $33.0M | $33.0M | $33.0M | $33.0M | $33.0M | $33.0M | $33.0M | $33.0M | $33.0M |
| Retained earnings (deficit) | $30.74B | $30.15B | $29.07B | $29.98B | $29.89B | $29.45B | $28.32B | $29.12B | $28.75B | $28.17B | $27.54B | $28.19B |
| Accumulated other comprehensive income | −$751.0M | −$731.0M | −$633.0M | −$666.0M | −$783.0M | −$868.0M | −$1.07B | −$653.0M | −$1.12B | −$1.09B | −$999.0M | −$1.50B |
| Minority interest | $64.0M | $66.0M | $80.0M | $60.0M | $61.0M | — | — | — | — | — | — | — |
| Total shareholders' equity | $19.21B | $18.58B | $17.66B | $18.52B | $18.23B | $17.75B | $16.38B | $17.57B | $16.67B | $16.13B | $16.26B | $16.95B |
| Key figures | ||||||||||||
| Total debt | $14.25B | $13.99B | $12.94B | $12.61B | $12.59B | $13.31B | $12.26B | $13.02B | $12.89B | $13.21B | $12.27B | $11.73B |
| Net cash (debt) | $9.62B | $7.97B | −$8.74B | −$7.22B | −$8.55B | −$9.06B | −$10.04B | −$7.91B | −$7.39B | −$7.30B | −$7.58B | $3.42B |
| Working capital | $17.08B | $5.68B | −$2.84B | −$2.28B | −$2.79B | −$3.58B | −$6.33B | −$5.20B | −$3.32B | −$3.02B | −$5.22B | −$3.00B |
| Tangible book value | $8.73B | $8.09B | $6.84B | $7.67B | $7.22B | $6.69B | $5.30B | $6.33B | $5.44B | $4.89B | $5.02B | $5.64B |
| Book value per share | $158.93 | $154.00 | $146.73 | $153.36 | $151.01 | $146.99 | $135.60 | $145.45 | $138.16 | $133.01 | $132.79 | $136.70 |
| Shares outstanding | 120.9M | 120.7M | 120.3M | 120.8M | 120.7M | 120.8M | 120.8M | 120.8M | 120.7M | 121.3M | 122.5M | 124.0M |
| Current ratio | 1.74 | 1.26 | 0.72 | 0.78 | 0.75 | 0.71 | 0.44 | 0.58 | 0.74 | 0.77 | 0.56 | 0.85 |
| Quick ratio | 1.29 | 1.26 | 0.72 | 0.78 | 0.75 | 0.71 | 0.44 | 0.58 | 0.74 | 0.77 | 0.56 | 0.85 |
| Debt / equity | 0.74 | 0.75 | 0.73 | 0.68 | 0.69 | 0.75 | 0.75 | 0.74 | 0.77 | 0.82 | 0.75 | 0.69 |
| Equity / assets | 33.6% | 33.6% | 36.2% | 37.3% | 36.2% | 34.9% | 35.4% | 35.1% | 33.3% | 32.2% | 34.7% | 30.3% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 19, 2026); data from EODHD.
HUM financial position
At the end of fiscal 2025 (December 31, 2025), Humana had total assets of $48.8 billion (up 5.3% from a year earlier), total liabilities of $31.0 billion and shareholders' equity of $17.7 billion. It held $4.2 billion in cash and short-term investments against $12.9 billion of debt, net debt of $8.7 billion. Its current ratio was 0.72. In the latest quarter (ended June 30, 2026) total assets were $57.2 billion and equity $19.2 billion.
Related: HUM income statement, HUM cash flow statement, HUM key metrics. See the HUM stock overview for the latest quote and news.
HUM balance sheet FAQ
What are Humana's total assets?
Humana reported total assets of $48.8 billion at the end of fiscal 2025 (December 31, 2025), compared with $46.3 billion a year earlier.
How much debt does Humana have?
Humana had $12.9 billion of total debt at the end of fiscal 2025, including short-term borrowings. Its debt-to-equity ratio was 0.73.
How much cash does Humana have?
Humana held $4.2 billion in cash and short-term investments at the end of fiscal 2025; with $12.9 billion of debt that is net debt of $8.7 billion.
What is Humana's book value?
Humana's shareholders' equity (book value) was $17.7 billion at the end of fiscal 2025, or $146.14 per share.
What is Humana's current ratio?
Humana had current assets of $7.5 billion and current liabilities of $10.3 billion, a current ratio of 0.72 (current liabilities exceed current assets).
How much goodwill does Humana have?
Humana carried $10.8 billion of goodwill and intangible assets, 22.2% of total assets, at the end of fiscal 2025.