Humana Inc. HUM

Revenue Intelligence Report • 70 quarters of SEC filing data • Updated 2026-03-06

Humana Inc. has demonstrated strong revenue performance, with the latest quarterly revenue reaching $32.5 billion, supported by a robust FY forecast of $144 billion, reflecting an 11.2% year-over-year growth. The company's revenue generation is significantly impacted by its SG&A spending, which has a negative long-run revenue effect of $17.18 for every dollar spent. Despite a slight forecast error of 2.6% in the holdout test, the model's accuracy of 2.5% MAPE indicates reliable revenue projections. Investors can expect continued growth driven by strategic spending and operational efficiencies in the healthcare sector.

Next FY Revenue

$144.14B

+11.2% YoY

SG&A Multiplier

$-17.18 per $1

Model Accuracy

2.5% MAPE

Holdout validation: The model predicted $33B vs the actual $33B — an error of 2.6%.

⚠ Model limitation: This company shows negative spending multipliers, meaning increases in spending have not directly translated into revenue growth. This typically occurs with commodity-driven companies or hypergrowth companies.

Note: Humana Inc. does not report R&D expenses separately. This analysis uses SG&A spending only.

Revenue Forecast

Quarterly Detail

Quarter	Model Forecast	Actual	95% Range	YoY Growth	Status
Q4 2025	$33B	$33B	$32B – $34B	+14.2%	✓ In range
Q2 2026	$35B		$33B – $36B	+8.4%
Q3 2026	$36B		$34B – $38B	+10.9%
Q4 2026	$36B		$34B – $38B	+11.4%
Q1 2027	$37B		$35B – $39B	+14.0%

How Spending Drives Revenue

Reading this chart: Each line shows the cumulative revenue generated per $1 spent over subsequent quarters. The effect builds over 4-5 quarters as investments mature.

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