OM:HUM

Stock Analysis Report

NOT FOR DISTRIBUTION
Header cover image

Executive Summary

Humana AB (publ), together with its subsidiaries, provides individual and family care services for children, adolescents, and adults in Sweden, Finland, Norway, and Denmark.


Snowflake Analysis

Fair value with questionable track record.

Share Price & News

How has Humana's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: HUM has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

1.7%

HUM

0.2%

SE Healthcare

0.8%

SE Market


1 Year Return

-13.0%

HUM

-4.7%

SE Healthcare

8.3%

SE Market

Return vs Industry: HUM underperformed the Swedish Healthcare industry which returned -6.3% over the past year.

Return vs Market: HUM underperformed the Swedish Market which returned 7% over the past year.


Shareholder returns

HUMIndustryMarket
7 Day1.7%0.2%0.8%
30 Day8.3%3.7%8.9%
90 Day11.4%4.9%16.9%
1 Year-13.0%-13.0%-4.7%-4.7%9.9%8.3%
3 Year-20.2%-21.9%-26.0%-27.7%21.8%8.9%
5 Yearn/a-5.7%-10.7%36.4%9.6%

Price Volatility Vs. Market

How volatile is Humana's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Humana undervalued compared to its fair value and its price relative to the market?

13.22x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: HUM (SEK49) is trading above our estimate of fair value (SEK31.81)

Significantly Below Fair Value: HUM is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: HUM is good value based on its PE Ratio (13.2x) compared to the SE Healthcare industry average (24x).

PE vs Market: HUM is good value based on its PE Ratio (13.2x) compared to the Swedish market (19.8x).


Price to Earnings Growth Ratio

PEG Ratio: HUM is good value based on its PEG Ratio (0.8x)


Price to Book Ratio

PB vs Industry: HUM's PB Ratio (1.1x) is in line with the SE Healthcare industry average.


Next Steps

Future Growth

How is Humana forecast to perform in the next 1 to 3 years based on estimates from 3 analysts?

15.7%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: HUM's forecast earnings growth (15.7% per year) is above the savings rate (0.5%).

Earnings vs Market: HUM's earnings (15.7% per year) are forecast to grow slower than the Swedish market (17.3% per year).

High Growth Earnings: HUM's earnings are forecast to grow, but not significantly.

Revenue vs Market: HUM's revenue (4.2% per year) is forecast to grow slower than the Swedish market (6.2% per year).

High Growth Revenue: HUM's revenue (4.2% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: HUM's Return on Equity is forecast to be low in 3 years time (10.5%).


Next Steps

Past Performance

How has Humana performed over the past 5 years?

26.2%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: HUM has high quality earnings.

Growing Profit Margin: HUM's current net profit margins (2.6%) are lower than last year (3.6%).


Past Earnings Growth Analysis

Earnings Trend: HUM's earnings have grown significantly by 26.2% per year over the past 5 years.

Accelerating Growth: HUM's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: HUM had negative earnings growth (-19.4%) over the past year, making it difficult to compare to the Healthcare industry average (-19.4%).


Return on Equity

High ROE: HUM's Return on Equity (8.3%) is considered low.


Next Steps

Financial Health

How is Humana's financial position?


Financial Position Analysis

Short Term Liabilities: HUM's short term assets (SEK1.8B) do not cover its short term liabilities (SEK2.2B).

Long Term Liabilities: HUM's short term assets (SEK1.8B) do not cover its long term liabilities (SEK3.8B).


Debt to Equity History and Analysis

Debt Level: HUM's debt to equity ratio (99.5%) is considered high.

Reducing Debt: HUM's debt to equity ratio has reduced from 165.4% to 99.5% over the past 5 years.

Debt Coverage: HUM's debt is well covered by operating cash flow (28.1%).

Interest Coverage: HUM's interest payments on its debt are not well covered by EBIT (2.7x coverage).


Balance Sheet


Next Steps

Dividend

What is Humana current dividend yield, its reliability and sustainability?

2.79%

Forecast Dividend Yield


Dividend Yield vs Market

Notable Dividend: Unable to evaluate HUM's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate HUM's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if HUM's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if HUM's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: HUM is not paying a notable dividend for the Swedish market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of HUM's dividend in 3 years as they are not forecast to pay a notable one for the Swedish market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

7.0yrs

Average management tenure


CEO

Rasmus Nerman (42yo)

5.5yrs

Tenure

kr5,503,000

Compensation

Mr. Rasmus Nerman has been Chief Executive Officer and President of Humana AB since 2015. Mr. Nerman served as Deputy Chief Executive Officer of Humana. He served as Business Area Manager in Humana Individ ...


CEO Compensation Analysis

Compensation vs Market: Rasmus's total compensation ($USD599.29K) is above average for companies of similar size in the Swedish market ($USD415.35K).

Compensation vs Earnings: Rasmus's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Rasmus Nerman
CEO & President5.5yrskr5.50m0.32% SEK8.3m
Ulf Bonnevier
CFO & VP8.5yrsno data0.32% SEK8.3m
Anna Sönne
Head of Investor Relationsno datano datano data
Helena Pharmanson
Director of Marketing & Communication10.5yrsno data0.18% SEK4.7m
Anna Skablova
Director of Human Resource3.5yrsno datano data

7.0yrs

Average Tenure

52yo

Average Age

Experienced Management: HUM's management team is seasoned and experienced (7 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Fredrik Strömholm
Independent Director1.17yrskr245.00kno data
Sören Mellstig
Independent Chairman of the Board1.17yrskr408.00k0.19% SEK4.9m
Anders Nyberg
Independent Director0.17yrno datano data
Kirsi Komi
Independent Director3.5yrskr250.00k0.019% SEK490.0k
Magdalena Gerger
Independent Director1.17yrskr181.00k0.017% SEK436.1k
Monica Lingegård
Independent Director3.5yrskr243.00k0.0028% SEK73.4k
Karita Bekkemellem
Independent Director0.17yrno datano data

1.2yrs

Average Tenure

57yo

Average Age

Experienced Board: HUM's board of directors are not considered experienced ( 1.2 years average tenure), which suggests a new board.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: HUM insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Humana AB (publ)'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Humana AB (publ)
  • Ticker: HUM
  • Exchange: OM
  • Founded: 2001
  • Industry: Health Care Facilities
  • Sector: Healthcare
  • Market Cap: kr2.604b
  • Shares outstanding: 53.14m
  • Website: https://www.humana.se

Number of Employees


Location

  • Humana AB (publ)
  • Warfvinges vAeg 39
  • 7th floor
  • Stockholm
  • Stockholm County
  • 112 51
  • Sweden

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
HUMOM (OMX Nordic Exchange Stockholm)YesOrdinary B SharesSESEKMar 2016
47HDB (Deutsche Boerse AG)YesOrdinary B SharesDEEURMar 2016
HUMSBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary B SharesGBSEKMar 2016
0RF7LSE (London Stock Exchange)YesOrdinary B SharesGBSEKMar 2016

Biography

Humana AB (publ), together with its subsidiaries, provides individual and family care services for children, adolescents, and adults in Sweden, Finland, Norway, and Denmark. The company operates through Individual & Family, Personal Assistance, and Elderly Care segments. The Individual & Family segment provides care and treatment in psychiatry and psychosocial change management through residential care homes, temporary and regular family homes, special service housing, outpatient care and assisted living homes, and specially adapted housing. The Personal Assistance segment offers care services and assistance to individuals with functional impairments. The Elderly Care segment consists of elderly housing, as well as provides day care, flats adapted for the elderly, meeting places, and family member services. Humana AB (publ) was founded in 2001 and is headquartered in Stockholm, Sweden. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/07/13 20:52
End of Day Share Price2020/07/13 00:00
Earnings2020/03/31
Annual Earnings2019/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.