Humana (HUM) Operating Margin (2009 - 2026)
Humana (HUM) posted quarterly Operating Margin of 3.33% for 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.
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.
- In Q2 2026, Operating Margin fell 6.0% year-over-year to 3.33%; the TTM figure through Jun 2026 stood at 1.86% (down 82.0% YoY), while the FY2025 annual figure was 2.09%, down 9.0% from the prior year.
- Operating Margin eased to 3.33% in Q2 2026 per HUM's latest filing, from 4.42% in the prior quarter.
- Across five years, Operating Margin topped out at 18.96% in Q4 2022 and bottomed at 2.49% in Q4 2025.
- Historically, Operating Margin has averaged 4.14% across 5 years, with a median of 4.3% in 2026.
- Annual changes were most pronounced in 2022 — Operating Margin jumped 1867 bps — and 2023, when it slumped 2028 bps.
- Humana's 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 soared by 234 bps to 3.33% in 2026.
- Business Quant data shows HUM's Operating Margin at 3.33% in Q2 2026, 4.42% in Q1 2026, and 2.49% in Q4 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Unitedhealth | 346.93 Bn | 315.46 Bn | 36.67 Bn | 7.13% |
| 2 | Cvs Health | 119.91 Bn | 105.95 Bn | 47.23 Bn | 4.43% |
| 3 | Elevance Health | 86.25 Bn | 50.30 Bn | 13.45 Bn | 1.39% |
| 4 | Humana | 45.69 Bn | 21.82 Bn | 5.50 Bn | 3.33% |
| 5 | Centene | 31.66 Bn | 4.60 Bn | 14.55 Bn | 2.24% |
| 6 | Molina Healthcare | 10.12 Bn | 1.21 Bn | 1.43 Bn | 1.33% |
| 7 | Oscar Health | 9.48 Bn | 922.10 Mn | 1.09 Bn | 7.96% |
| 8 | Alignment Healthcare | 2.69 Bn | 1.99 Bn | 180.96 Mn | 3.15% |
| 9 | Clover Health Investments | 2.16 Bn | 1.92 Bn | 153.00 Mn | 3.77% |
| 10 | Progyny | 2.03 Bn | 1.79 Bn | 89.30 Mn | 11.41% |
Historic Data
Download 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% |