COMP <GO>

HUM vs UNH // RETURN ON INVESTED CAPITAL (ROIC)

Humana Inc. (NYSE) VS. UnitedHealth Group Incorporated (NYSE) • 15-METRIC TALLY: HUM 4 — UNH 10

▲ RETURN ON INVESTED CAPITAL (ROIC) LEADER: UNH

LAST: $414.50 (-0.73%) • MKT CAP: $50.14B

roic

8.30%

LAST: $406.97 (-0.96%) • MKT CAP: $364.66B

roic

11.47%

15-METRIC INSTITUTIONAL SIDE-BY-SIDE SCORECARD (HUM VS. UNH) EMERALD CELL = QUANTITATIVE EDGE

INSTITUTIONAL METRIC	HUM	UNH	SPREAD (A - B)	ADVANTAGE	DEDICATED URL
Gross Profit Margin	41.00%	88.57%	-47.57	UNH	/gross-margins <GO>
Return on Invested Capital (ROIC) ACTIVE	8.30%	11.47%	-3.17	UNH	/roic <GO>
EV/EBITDA & P/E Valuation	18.4x	16.4x	+1.95	UNH	/valuation <GO>
Free Cash Flow Yield	0.75%	6.48%	-5.73	UNH	/fcf-yield <GO>
Operating Margin	2.10%	4.82%	-2.72	UNH	/operating-margins <GO>
Net Profit Margin	0.90%	3.14%	-2.24	UNH	/net-margins <GO>
Revenue Growth (YoY)	10.10%	6.46%	+3.64	HUM	/revenue-growth <GO>
Dividend Yield & FCF Payout Safety	0.86%	2.28%	-1.42	UNH	/dividend-safety <GO>
Altman Z-Score & Debt/Equity	5.03	3.12	+1.91	HUM	/balance-sheet <GO>
Piotroski F-Score Quality	7/9	7/9	0.00	TIE	/piotroski-score <GO>
Options Implied Move & Put/Call Skew	6.50%	6.74%	-0.24	HUM	/options-implied-move <GO>
RSI-14 & 200D SMA Momentum	52.2	56.0	-3.87	UNH	/rsi-technicals <GO>
10Y Yield & FRED Macro Beta	0.88	0.33	+0.55	HUM	/macro-sensitivity <GO>
Forward P/E Multiple	39.2x	17.1x	+22.11	UNH	/forward-pe <GO>
Enterprise Scale & Market Cap	$50.14B	$364.66B	-$314.52B	UNH	/market-cap <GO>

5-YEAR HISTORICAL XBRL REVENUE & MARGIN TRAJECTORY SEC FORM 10-K FY

FISCAL YEAR	HUM REV	UNH REV	HUM GROSS %	UNH GROSS %	HUM FCF	UNH FCF
FY 2025	$129.66B	$447.57B	44.0%	88.7%	$375.0M	$16.07B
FY 2024	$117.76B	$400.28B	44.0%	88.3%	$2.39B	$20.70B
FY 2023	$106.37B	$371.62B	44.0%	89.6%	-$805.8M	$25.68B
FY 2022	—	$324.16B	—	89.6%	—	$23.40B
FY 2021	—	$287.60B	—	89.2%	—	$19.89B

FRED MACRO REGIME CORRELATION COMPARISON PEARSON r

HUM // BETA 0.88

UNH // BETA 0.33