HUM
Humana Inc.
HUM offers stronger fundamentals, but that advantage does not outweigh its weaker overall profile.
UNH
UnitedHealth Group Incorporated
UNH has the edge over HUM overall, supported by stronger valuation and stronger modeled upside.
HUM Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Stable | |
| Under pressure | |
| Stable |
HUM's revenue is currently healthy, and its profitability and balance sheet are stable, but its cash flow is under pressure.
UNH Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Stable | |
| Healthy | |
| Healthy |
UNH's cash flow and balance sheet are currently healthy, and its revenue and profitability are stable.
HUM PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 17x | $171 | -62% |
| Fair | 20x | $205 | -54% |
| Expensive | 24x | $251 | -43% |
| Forward | 26x | $444 | — |
| Current | 43x | $444 | — |
Historical ranges are pointers, not guarantees.
HUM's PE is in its expensive range at 43x. If earnings grow as analysts expect, today's price would be 26x next year's earnings.
UNH PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 18x | $405 | — |
| Cheap | 19x | $325 | -20% |
| Fair | 23x | $410 | +1.2% |
| Current | 23x | $405 | — |
| Expensive | 30x | $526 | +30% |
Historical ranges are pointers, not guarantees.
UNH has the edge over HUM in the historical PE scenario, which offers more potential upside but is not a forecast.
HUM Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Growth | |
| Stable | |
| Moderate | |
| Low |
Analysts expect earnings and revenue growth for HUM, with profitability holding steady. However, they disagree widely on these estimates.
UNH Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Stable | |
| Improving | |
| Moderate | |
| Low |
Analysts expect UNH's earnings to grow and its profitability to improve, with its revenue holding steady. However, they disagree widely on these estimates.
HUM Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $17.03 | +66% |
| Q3 2026 | $10.29 | -3.8% |
| Q2 2026 | $10.58 | -19% |
| Q1 2026 | $9.37 | -34% |
| Q4 2025 | $9.84 | -1.4% |
| Q3 2025 | $10.70 | -6.7% |
| Q2 2025 | $13.06 | -8% |
| Q1 2025 | $14.17 | -13% |
| Q4 2024 | $9.98 | -50% |
HUM's earnings per share have fallen from their peak: $10.29 over the past year, against $31.20 in late 2020.
UNH Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $22.65 | +29% |
| Q3 2026 | $17.55 | -8.5% |
| Q2 2026 | $15.58 | -33% |
| Q1 2026 | $13.28 | -44% |
| Q4 2025 | $13.23 | -15% |
| Q3 2025 | $19.17 | +25% |
| Q2 2025 | $23.09 | +53% |
| Q1 2025 | $23.89 | +46% |
| Q4 2024 | $15.51 | -35% |
UNH's earnings per share have fallen from their peak: $17.55 over the past year, against $23.89 in early 2025.
HUM Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $41.2B | +26% |
| Q2 2026 | $40.9B | +26% |
| Q1 2026 | $39.6B | +23% |
| Q4 2025 | $32.5B | +11% |
| Q3 2025 | $32.6B | +11% |
| Q2 2025 | $32.4B | +9.6% |
| Q1 2025 | $32.1B | +8.4% |
| Q4 2024 | $29.2B | +10% |
HUM has the edge over UNH on sales, with more consistent year-over-year improvement.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 0.2% | -1.1 points |
| Q2 2026 | 3.3% | -0.1 points |
| Q1 2026 | 4.4% | -1.8 points |
| Q4 2025 | -2.5% | -0.6 points |
| Q3 2025 | 1.2% | -1.3 points |
| Q2 2025 | 3.4% | -0.5 points |
| Q1 2025 | 6.3% | +2.1 points |
| Q4 2024 | -1.9% | -0.5 points |
HUM's operating margin was 0.2% last quarter, down 1.1 points from the same quarter a year ago.
UNH Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $112.7B | -0.4% |
| Q2 2026 | $112B | +0.4% |
| Q1 2026 | $111.7B | +2% |
| Q4 2025 | $113.2B | +12% |
| Q3 2025 | $113.2B | +12% |
| Q2 2025 | $111.6B | +13% |
| Q1 2025 | $109.6B | +9.8% |
| Q4 2024 | $100.8B | +6.8% |
UNH's revenue has held roughly level: $113B last quarter, about level with the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 5.8% | +2 points |
| Q2 2026 | 7.1% | +2.5 points |
| Q1 2026 | 8.1% | -0.3 points |
| Q4 2025 | 0.3% | -7.4 points |
| Q3 2025 | 3.8% | -4.8 points |
| Q2 2025 | 4.6% | -3.4 points |
| Q1 2025 | 8.3% | +0.4 points |
| Q4 2024 | 7.7% | -0.4 points |
UNH has the edge over HUM on profitability, with a higher operating margin.
HUM Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $2B | +142% |
| Q2 2026 | -$558M | -148% |
| Q1 2026 | $1.1B | +380% |
| Q4 2025 | -$1.9B | -$1.2B |
| Q3 2025 | $836M | -52% |
| Q2 2025 | $1.2B | +5.3% |
| Q1 2025 | $236M | -4.1% |
| Q4 2024 | -$682M | +$6.7B |
HUM still generates free cash flow, though less than at its 2022 peak: $747M over the past year.
UNH Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $4.3B | -16% |
| Q2 2026 | $10.3B | +63% |
| Q1 2026 | $8.1B | +79% |
| Q4 2025 | $160M | -89% |
| Q3 2025 | $5.1B | -61% |
| Q2 2025 | $6.3B | +6.9% |
| Q1 2025 | $4.6B | +1037% |
| Q4 2024 | $1.5B | +$7.6B |
UNH has the edge over HUM on cash flow, with more consistent year-over-year improvement.
HUM Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.8% | +935K shares |
| 1 year | +0.9% | +1.1M shares |
| 3 years | -1.7% | -2.2M shares |
| 5 years | -5.7% | -7.4M shares |
| Available history | -9.6% | -12.9M shares |
HUM has 122M diluted shares, up 0.9% from a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | $2M |
| Q2 2026 | $1M |
| Q1 2026 | $107M |
| Q4 2025 | $42M |
| Q3 2025 | — |
| Q2 2025 | $100M |
| Q1 2025 | $9M |
| Q4 2024 | $49M |
HUM spent $152M buying back its own shares over the past year, down 3.8% from the year before.
UNH Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.4% | -4M shares |
| 1 year | -0.7% | -6M shares |
| 3 years | -3.6% | -34M shares |
| 5 years | -5.5% | -53M shares |
| Available history | -6.6% | -64M shares |
UNH has the edge over HUM on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $3.4B |
| Q2 2026 | $1.6B |
| Q1 2026 | — |
| Q4 2025 | — |
| Q3 2025 | — |
| Q2 2025 | $2.5B |
| Q1 2025 | $3B |
| Q4 2024 | $5B |
UNH spent $5B buying back its own shares over the past year, down 52% from the year before.
HUM Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 2.0x | Healthy |
| Q2 2026 | 2.3x | Moderate |
| Q1 2026 | 2.9x | Moderate |
| Q4 2025 | 2.4x | Moderate |
| Q3 2025 | 2.0x | Healthy |
| Q2 2025 | 2.1x | Moderate |
| Q1 2025 | 2.2x | Moderate |
| Q4 2024 | 2.8x | Moderate |
HUM's net debt is about 2.0 years of its operating earnings (EBITDA), about the same as a year ago.
UNH Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 1.7x | Healthy |
| Q2 2026 | 1.7x | Healthy |
| Q1 2026 | 2.2x | Moderate |
| Q4 2025 | 2.3x | Moderate |
| Q3 2025 | 1.7x | Healthy |
| Q2 2025 | 1.5x | Healthy |
| Q1 2025 | 1.3x | Healthy |
| Q4 2024 | 1.4x | Healthy |
UNH has the edge over HUM on leverage, with a lower net debt burden relative to earnings.
HUM Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 66.9 | Neutral |
| Stochastic | 74.1 | Neutral |
HUM's weekly RSI is 67 (neutral) and its Stochastic is 74 (neutral).
UNH Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 56.4 | Neutral |
| Stochastic | 60.0 | Neutral |
UNH's weekly RSI is 56 (neutral) and its Stochastic is 60 (neutral).
HUM PE vs Healthcare Sector
| Metric | HUM | Sector median | Relative |
|---|---|---|---|
| PE | 43x | 26x | 67% above |
| PE % | 100 | 29 | 71 pts above |
HUM is trading at 43x earnings, a 67% premium to the Healthcare sector's median of 26x.
UNH PE vs Healthcare Sector
| Metric | UNH | Sector median | Relative |
|---|---|---|---|
| PE | 23x | 26x | 11% below |
| PE % | 47 | 29 | 18 pts above |
UNH has the edge over HUM on valuation relative to its sector.
HUM Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $418.2 | 6.1% above |
| 20 week MA | $401.2 | 11% above |
| 50 week MA | $309.6 | 43% above |
| 100 week MA | $285.0 | 56% above |
| 200 week MA | $349.2 | 27% above |
HUM has the edge over UNH on trend strength, trading above more of its moving averages.
UNH Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $394.2 | 2.8% above |
| 20 week MA | $400.5 | 1.2% above |
| 50 week MA | $361.2 | 12% above |
| 100 week MA | $376.0 | 7.8% above |
| 200 week MA | $446.6 | 9.3% below |
UNH has bounced recently, but its long-term trend is still down: it's above its 8-, 20-, 50- and 100-week averages, but 9.3% below its 200-week average.
HUM Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $371.0 | $404.8 | +9.1% |
| 2021 | $404.8 | $460.5 | +14% |
| 2022 | $460.5 | $514.0 | +12% |
| 2023 | $514.0 | $457.8 | -11% |
| 2024 | $457.8 | $255.6 | -44% |
| 2025 | $255.6 | $258.8 | +1.2% |
| 2026 YTD | $258.8 | $443.7 | +71% |
HUM has the edge over UNH on returns for 2026, with the stronger performance.
UNH Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $296.0 | $340.8 | +15% |
| 2021 | $340.8 | $495.4 | +45% |
| 2022 | $495.4 | $531.3 | +7.3% |
| 2023 | $531.3 | $526.5 | -0.9% |
| 2024 | $526.5 | $510.0 | -3.1% |
| 2025 | $510.0 | $331.8 | -35% |
| 2026 YTD | $331.8 | $405.1 | +22% |
UNH has finished three years in a row lower, and it's up 22% so far in 2026.