The FedEx way: Spend money on stuff e.g. capex. Don't generate any cash in the process. Write off stuff as a "non cash" charge. Repeat. Quite a Ponzi scheme here being lapped up by investors.
What rubbish. You can throw out any numbers you want as long as they are pro-forma. Where are the billions in synergies from past acquisitions? How is it that the company still struggles to turn a GAAP profit? This is the new face of corporate fraud. No need to massage your accounts and go to jail; just direct unsuspecting investors to fanciful non GAAP figures.
Apparently Value Act Capital selling big part of their stake. They are on the board as well. No GAAP earnings for this pig, sell before all the hedgies do when interest rates go up.
No buyer will pay more than 20x EPS, which would be $175 per share. Others in the industry are trading at 15x. HUM's free cash flow has been exceptionally poor of late as well.