Humana Inc (HUM)

Debt-to-equity ratio

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Long-term debt	US$ in thousands	10,213,000	9,483,000	9,722,000	9,743,000	9,034,000	7,798,000	11,290,000	11,285,000	10,541,000	11,466,000	6,063,000	6,062,000	6,060,000	6,059,000	6,058,000	6,057,000	4,967,000	5,365,000	4,377,000	4,376,000
Total stockholders’ equity	US$ in thousands	16,262,000	16,949,000	16,834,000	16,577,000	15,311,000	16,317,000	15,510,000	15,342,000	16,080,000	16,282,000	14,843,000	14,190,000	13,728,000	15,768,000	14,416,000	12,355,000	12,037,000	11,601,000	11,872,000	10,841,000
Debt-to-equity ratio		0.63	0.56	0.58	0.59	0.59	0.48	0.73	0.74	0.66	0.70	0.41	0.43	0.44	0.38	0.42	0.49	0.41	0.46	0.37	0.40

December 31, 2023 calculation

Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $10,213,000K ÷ $16,262,000K
= 0.63

The debt-to-equity ratio of Humana Inc. has shown some fluctuation over the past eight quarters, ranging from 0.67 to 0.87. Generally, a lower debt-to-equity ratio indicates a lower reliance on debt financing and a stronger financial position.

In the most recent quarter, Q4 2023, the debt-to-equity ratio was 0.74, which suggests that the company's debt level is moderate compared to its equity. This ratio has decreased slightly from the previous quarter, indicating a potential improvement in the company's leverage position.

It is worth noting that the debt-to-equity ratio can vary depending on the industry and company's specific circumstances. Therefore, while Humana Inc.'s debt-to-equity ratio has fluctuated, further analysis would be needed to assess the company's overall financial health and risk profile.