Humana (HUM) Operating Expenses (2009 - 2026)
Humana (HUM) posted Operating Expenses of $39.51 billion for Q2 2026, up 26.3% from $31.29 billion a year earlier and up 4.3% from the prior quarter.
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Analysis
Humana (HUM) Operating Expenses (2009 - 2026) Analysis & Trends
For the trailing twelve months through Jun 30, 2026, Operating Expenses at Humana was $142.97 billion, up 19.3% year-over-year; for FY2025, it was $126.96 billion, up 10.2% from FY2024.
- Annual Operating Expenses has increased for eight consecutive years, with a five-year compound annual growth rate of 12.0% (FY2020 to FY2025).
- In prior years, Humana's Operating Expenses was $115.2 billion in FY2024 (+12.5%), $102.36 billion in FY2023 (+14.9%), $89.07 billion in FY2022 (+11.5%) and $79.92 billion in FY2021 (+10.7%).
- The Q2 2026 figure stands as the highest quarterly Operating Expenses in data going back to Q1 2009.
- On a year-over-year basis, Operating Expenses has increased in each of the last 34 quarters, with growth averaging 14.7% over the last eight quarters.
- The year-over-year growth in Operating Expenses has ranged between 6.1% (Q1 2025) and 26.3% (Q2 2026) over the last five years.
- According to Business Quant data, Operating Expenses for the three prior quarters was $37.89 billion (Q1 2026), $33.32 billion (Q4 2025) and $32.25 billion (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Unitedhealth | 341.92 Bn | 226.55 Bn | 36.67 Bn | 104.04 Bn |
| 2 | Cvs Health | 112.26 Bn | 64.87 Bn | 47.23 Bn | 101.39 Bn |
| 3 | Mckesson | 99.84 Bn | 86.30 Bn | 3.69 Bn | 2.37 Bn |
| 4 | Elevance Health | 85.53 Bn | -56.21 Bn | 13.45 Bn | 48.54 Bn |
| 5 | Cigna | 71.85 Bn | 41.39 Bn | 14.97 Bn | 68.99 Bn |
| 6 | Cencora | 57.95 Bn | 47.04 Bn | 3.61 Bn | 2.28 Bn |
| 7 | Cardinal Health | 51.09 Bn | 35.09 Bn | 2.56 Bn | 1.67 Bn |
| 8 | Humana | 46.78 Bn | -41.02 Bn | 5.50 Bn | 39.51 Bn |
| 9 | Centene | 30.87 Bn | -59.41 Bn | 14.55 Bn | 52.38 Bn |
| 10 | Molina Healthcare | 9.86 Bn | -25.01 Bn | 1.43 Bn | 10.73 Bn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 39.51 Bn |
| Mar 31, 2026 | 37.89 Bn |
| Dec 31, 2025 | 33.32 Bn |
| Sep 30, 2025 | 32.25 Bn |
| Jun 30, 2025 | 31.29 Bn |
| Mar 31, 2025 | 30.10 Bn |
| Dec 31, 2024 | 29.76 Bn |
| Sep 30, 2024 | 28.67 Bn |
| Jun 30, 2024 | 28.40 Bn |
| Mar 31, 2024 | 28.38 Bn |
| Dec 31, 2023 | 26.81 Bn |
| Sep 30, 2023 | 25.22 Bn |
| Jun 30, 2023 | 25.31 Bn |
| Mar 31, 2023 | 25.02 Bn |
| Dec 31, 2022 | 22.32 Bn |
| Sep 30, 2022 | 21.63 Bn |
| Jun 30, 2022 | 22.45 Bn |
| Mar 31, 2022 | 22.68 Bn |
| Dec 31, 2021 | 20.99 Bn |
| Sep 30, 2021 | 20.07 Bn |
API Access
Humana Operating Expenses API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-expenses&ticker=HUM&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "ticker": "HUM", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-expenses&ticker=HUM&period=max&api_key=YOUR_API_KEY");
const data = await res.json();