Elevance Health vs Humana
Elevance Health is the larger business, with $199.13bn of revenue in fiscal 2025 against $129.66bn for Humana (1.5 times as much). Elevance Health grew faster (12.5% against 10.1%). Elevance Health kept more of each dollar of sales as profit: a net margin of 2.8% against 0.9%. Humana carries less debt relative to equity (70.1% against 73.0%).
| Latest fiscal year | Elevance HealthELV, 2025 | HumanaHUM, 2025 |
|---|---|---|
| Revenue | $199.13bn | $129.66bn |
| Revenue growth | 12.5% | 10.1% |
| Net income | $5.66bn | $1.19bn |
| Operating margin | 3.6% | 2.1% |
| Net margin | 2.8% | 0.9% |
| Return on equity | 13.3% | 7.0% |
| Free cash flow | $3.17bn | $375m |
| Cash | $9.49bn | $4.20bn |
| Total debt | $32.05bn | $12.37bn |
| Debt to equity | 73.0% | 70.1% |
| Dividend per share | — | $3.54 |
| Dividend yield | 1.7% | 0.9% |
| Share buybacks | $2.60bn | $151m |
| Employees | 98,200 | 67,060 |
| Market value | $89.38bn | $49.72bn |
| Price vs our value range | Within our value range | Below our value range |
| Moat score | 61 (Moderate) | 48 (Moderate) |
| Insider trades, 12 months | 4 buys, 18 sales | 1 buys, 0 sales |