Humana (HUM) Operating Margin (2009 - 2026)
Humana's (HUM) quarterly Operating Margin came in at 3.33% in Q2 2026, down 6.0% year-over-year from 3.54% in Q2 2025, and down 24.78% quarter-over-quarter from 4.42% in Q1 2026.
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Humana (HUM) Operating Margin (2009 - 2026) Analysis & Trends
Humana (HUM) has reported Operating Margin for 18 consecutive years, with 3.33% the latest figure, recorded in Q2 2026.
- On a quarterly basis, Operating Margin fell 6.0% year-over-year to 3.33% in Q2 2026; TTM through Jun 2026 was 1.86%, a 82.0% decrease from a year earlier, with the FY2025 full-year figure at 2.09%, down 9.0% from the prior year.
- Operating Margin was 3.33% for Q2 2026 at Humana, down from 4.42% in the prior quarter.
- Over five years, Operating Margin peaked at 18.96% in Q4 2022 and troughed at 2.49% in Q4 2025.
- A 5-year average of 4.14% and a median of 4.3% in 2026 frame the typical range for Operating Margin.
- Across the five-year window, Operating Margin soared 1867 bps in 2022 and tumbled 2028 bps in 2023, its largest moves.
- Over 5 years, Operating Margin stood at 18.96% in 2022, then tumbled by 107 bps to 1.32% in 2023, then slumped by 41 bps to 1.86% in 2024, then plunged by 34 bps to 2.49% in 2025, then jumped by 234 bps to 3.33% in 2026.
- The last three Operating Margin figures came in at 3.33% (Q2 2026), 4.42% (Q1 2026), and 2.49% (Q4 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Unitedhealth | 359.38 Bn | 333.97 Bn | 36.67 Bn | 7.13% |
| 2 | Cvs Health | 123.65 Bn | 109.89 Bn | 47.23 Bn | 4.43% |
| 3 | Elevance Health | 88.36 Bn | 52.55 Bn | 13.45 Bn | 1.39% |
| 4 | Cigna | 74.65 Bn | 67.69 Bn | 14.97 Bn | 3.73% |
| 5 | Humana | 48.21 Bn | 24.40 Bn | 5.50 Bn | 3.33% |
| 6 | Centene | 33.12 Bn | 6.13 Bn | 14.55 Bn | 2.24% |
| 7 | Molina Healthcare | 10.45 Bn | 1.53 Bn | 1.43 Bn | 1.33% |
| 8 | Oscar Health | 8.81 Bn | 262.35 Mn | 1.09 Bn | 7.96% |
| 9 | Corvel | 3.47 Bn | 3.12 Bn | - | - |
| 10 | Alignment Healthcare | 2.81 Bn | 2.10 Bn | 180.96 Mn | 3.15% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 3.33% |
| Mar 31, 2026 | 4.42% |
| Dec 31, 2025 | -2.49% |
| Sep 30, 2025 | 1.23% |
| Jun 30, 2025 | 3.39% |
| Mar 31, 2025 | 6.27% |
| Dec 31, 2024 | -1.86% |
| Sep 30, 2024 | 2.48% |
| Jun 30, 2024 | 3.86% |
| Mar 31, 2024 | 4.17% |
| Dec 31, 2023 | -1.32% |
| Sep 30, 2023 | 4.56% |
| Jun 30, 2023 | 5.37% |
| Mar 31, 2023 | 6.43% |
| Dec 31, 2022 | 18.96% |
| Sep 30, 2022 | 5.14% |
| Jun 30, 2022 | 5.13% |
| Mar 31, 2022 | 5.38% |
| Dec 31, 2021 | 0.29% |
| Sep 30, 2021 | 3.03% |