Financial Ratios Elevance Health, Inc.

Stocks

ELV

US0367521038

Managed Healthcare

Market Closed - NYSE Other stock markets 21:00:02 13/07/2026 BST			After hours 01:00:00
425.17 ^USD	+2.15%		426.40	+0.29%

07-13	Mizuho Adjusts Price Target on Elevance Health to $470 From $465, Maintains Outperform Rating	MT
07-13	Wells Fargo Adjusts Price Target on Elevance Health to $492 From $391, Maintains Overweight Rating	MT

6b6b88296c549c357bed10e.9h0o7ANCVJVmOO9-xF91MTwAlSuTnGkPzALH4STT0hc.m3hQnEASDNZee74YrQYdcghP7BL6qx53g3Weik3j6maseU6-eQsf9whyug

Published financial data: ELEVANCE HEALTH, INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021	2022	2023	2024	2025
Premiums and Annuity Revenues	117B	133B	143B	144B	165B
Total Interest And Dividend Income	1.38B	1.48B	1.82B	2.05B	2.19B
Gain (Loss) on Sale of Investments, Total (Rev)	-	-	-	-	-
Other Revenues, Total	19.89B	21.88B	26.66B	30.59B	32.29B
Total Revenues	139B	157B	171B	177B	199B
Policy Benefits	103B	116B	124B	128B	148B
Amortization of Goodwill and Intangible Assets - (IS)	441M	767M	885M	580M	628M
Selling General & Admin Expenses, Total	26.6B	30.68B	36.24B	39.47B	41.98B
Total Operating Expenses	130B	148B	161B	168B	191B
Operating Income	8.96B	8.66B	9.89B	9.2B	8.3B
Interest Expense, Total	-802M	-855M	-1.03B	-1.18B	-1.4B
EBT, Excl. Unusual Items	8.16B	7.81B	8.86B	8.01B	6.89B
Restructuring Charges	-202M	-39M	-752M	-268M	-55M
Gain (Loss) on Sale of Assets	-	-	-	201M	-
Asset Writedown	-7M	-	-392M	-41M	-129M
Legal Settlements	-	-	-	-	-
Other Unusual Items	-21M	-	-	-	-
EBT, Incl. Unusual Items	7.92B	7.77B	7.72B	7.9B	6.71B
Income Tax Expense	1.83B	1.75B	1.72B	1.93B	1.05B
Earnings From Continuing Operations	6.1B	6.02B	5.99B	5.97B	5.66B
Net Income to Company	6.1B	6.02B	5.99B	5.97B	5.66B
Minority Interest	9M	6M	-4M	9M	1M
Net Income - (IS)	6.1B	6.02B	5.99B	5.98B	5.66B
Net Income to Common Incl Extra Items	6.1B	6.02B	5.99B	5.98B	5.66B
Net Income to Common Excl. Extra Items	6.1B	6.02B	5.99B	5.98B	5.66B
Per Share Items
Net EPS - Basic	25.04	25.1	25.38	25.81	25.28
Basic EPS - Continuing Operations	25.04	25.1	25.38	25.81	25.28
Basic Weighted Average Shares Outstanding	244M	240M	236M	232M	224M
Net EPS - Diluted	24.73	24.81	25.22	25.68	25.21
Diluted EPS - Continuing Operations	24.73	24.81	25.22	25.68	25.21
Diluted Weighted Average Shares Outstanding	247M	243M	237M	233M	225M
Normalized Basic EPS	20.94	20.36	23.45	21.65	19.24
Normalized Diluted EPS	20.69	20.12	23.31	21.54	19.19
Dividend Per Share	4.52	5.12	5.92	6.52	6.84
Payout Ratio	18.09	20.4	23.3	25.22	27
American Depositary Receipts Ratio (ADR)	0.2	0.2	0.2	0.2	0.2
Supplemental Items
EBITDA	9.77B	9.74B	10.95B	9.86B	9.04B
EBITA	9.4B	9.43B	10.77B	9.78B	8.92B
EBIT	8.96B	8.66B	9.89B	9.2B	8.3B
EBITDAR	10.08B	9.91B	11.14B	10.03B	9.19B
Total Revenues (As Reported)	139B	157B	171B	177B	199B
Effective Tax Rate - (Ratio)	23.09	22.53	22.35	24.46	15.63
Current Domestic Taxes	1.65B	-	-	2.2B	1.13B
Current Foreign Taxes	-	-	-	93M	199M
Total Current Taxes	1.65B	1.75B	2.41B	2.29B	1.33B
Deferred Domestic Taxes	-	-	-	-	-98M
Deferred Foreign Taxes	-	-	-	-	-180M
Total Deferred Taxes	180M	4M	-690M	-361M	-278M
Normalized Net Income	5.11B	4.89B	5.53B	5.02B	4.31B
Interest on Long-Term Debt	4M	2M	-	-	-
Non-Cash Pension Expense	-49M	-5M	-43M	-34M	-17M
Supplemental Operating Expense Items
Marketing Expenses	588M	511M	599M	540M	395M
Selling and Marketing Expenses	-	-	-	-	-
General and Administrative Expenses	-	-	-	-	-
Net Rental Expense, Total	302M	175M	193M	171M	146M
Imputed Operating Lease Interest Expense	86.08M	48.78M	62.35M	55.89M	50.47M
Imputed Operating Lease Depreciation	216M	126M	131M	115M	95.53M
Stock-Based Comp., Other (Total)	255M	264M	289M	191M	276M
Total Stock-Based Compensation	255M	264M	289M	191M	276M

Fiscal Period: December	2021	2022	2023	2024	2025
Assets
Investment In Equity and Preferred Securities, Total	-	-	-	-	-
Total Other Investments	33.37B	32.59B	35.95B	35.95B	37.18B
Total investments	33.37B	32.59B	35.95B	35.95B	37.18B
Cash And Equivalents	4.88B	7.39B	6.53B	8.29B	9.49B
Other Receivables - (Insurance Template)	13.61B	16.48B	18.41B	19.47B	22.41B
Gross Property Plant And Equipment	8.89B	7.72B	8.49B	8.9B	9.19B
Accumulated Depreciation	-4.34B	-2.8B	-3.54B	-3.68B	-4.06B
Net Property Plant And Equipment	4.55B	4.92B	4.94B	5.22B	5.13B
Goodwill	24.23B	24.38B	25.32B	28.28B	28.34B
Other Intangibles, Total	10.62B	10.32B	10.27B	12.09B	11.2B
Other Current Assets, Total	4.48B	4.84B	5.25B	4.98B	4.76B
Deferred Tax Assets Long-Term (Collected)	103M	137M	228M	206M	298M
Other Long-Term Assets, Total	1.62B	1.72B	2.03B	2.4B	2.68B
Total Assets	97.46B	103B	109B	117B	121B
Liabilities
Accounts Payable, Total	4.97B	5.61B	6.91B	6.93B	7.32B
Accrued Expenses, Total	6M	6M	7M	4M	-
Insurance And Annuity Liabilities	6.32B	6.67B	6.38B	4.39B	3.78B
Unpaid Claims	13.52B	15.6B	16.11B	15.75B	17.08B
Unearned Premiums	1.15B	1.11B	1.4B	1.51B	1.49B
Current Portion of Long-Term Debt	1.6B	1.5B	1.65B	1.65B	1.1B
Current Portion of Leases	133M	181M	164M	153M	131M
Short-Term Borrowings	275M	265M	225M	365M	150M
Long-Term Debt	21.16B	22.35B	23.25B	29.22B	30.84B
Long-Term Leases	864M	751M	685M	658M	529M
Current Income Taxes Payable	-	-	-	75M	151M
Other Current Liabilities - (Brok / FS / Ins. / REIT Template)	7.71B	9.5B	9.72B	9.95B	9.97B
Pension & Other Post Retirement Benefits	52M	38M	38M	34M	-
Deferred Tax Liability Non-Current	2.8B	2.03B	1.97B	2.15B	2.11B
Other Non Current Liabilities	767M	773M	1.02B	2.63B	2.81B
Total Liabilities	61.33B	66.38B	69.52B	75.46B	77.47B
Common Stock, Total	2M	2M	2M	2M	2M
Additional Paid In Capital	9.15B	9.08B	8.87B	8.91B	8.94B
Retained Earnings	27.09B	29.72B	31.75B	33.55B	35.39B
Comprehensive Income and Other	-178M	-2.5B	-1.31B	-1.15B	-451M
Total Common Equity	36.06B	36.31B	39.31B	41.32B	43.88B
Minority Interest	68M	87M	99M	111M	144M
Total Equity	36.13B	36.39B	39.4B	41.43B	44.03B
Total Liabilities And Equity	97.46B	103B	109B	117B	121B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	241M	237M	233M	227M	221M
ECS Total Common Shares Outstanding	242M	238M	233M	227M	221M
Book Value / Share	149.15	152.58	168.64	181.62	198.81
Tangible Book Value	1.22B	1.61B	3.72B	944M	4.34B
Tangible Book Value Per Share	5.03	6.76	15.94	4.15	19.65
Total Debt	24.03B	25.05B	25.97B	32.04B	32.75B
Net Debt	19.15B	17.66B	19.44B	23.76B	23.26B
Debt Equivalent of Unfunded Proj. Benefit Obligation	-357M	-319M	-414M	-501M	-621M
Debt Equivalent Oper. Leases	2.42B	1.4B	1.54B	1.37B	1.17B
Minority Interest, Total (Incl. Fin. Div)	68M	87M	99M	111M	144M
Account Code - Inventory Valuation	3	3	3	3	3
Land - (BS)	17M	1M	1M	1M	1M
Buildings, Total	172M	38M	37M	27M	15M
Machinery, Total	1.31B	828M	955M	940M	986M
Full Time Employees	98.2K	102K	105K	103K	96.13K
Part Time Employees	-	-	-	1.04K	971

Fiscal Period: December	2021	2022	2023	2024	2025
Net Income	6.1B	6.02B	5.99B	5.98B	5.66B
Depreciation, Depletion & Amortization	376M	309M	175M	79M	115M
Amortization of Goodwill and Intangible Assets - (CF)	441M	767M	885M	580M	628M
Total Depreciation, Depletion & Amortization	817M	1.08B	1.06B	659M	743M
Amortization of Deferred Charges, Total	485M	599M	685M	734M	803M
(Gain) Loss On Sale of Asset - (CF)	-	-	-	-201M	-
(Gain) Loss on Sale of Investments - (CF)	-	-	-	-	-
Total Asset Writedown	73M	7M	446M	103M	108M
(Income) Loss On Equity Investments - (CF)	-562M	-293M	33M	-1M	-398M
Stock-Based Compensation (CF)	255M	264M	289M	191M	276M
Tax Benefit from Stock Options	-	-	-	-	-
Change in Accounts Receivable	-2.14B	-2.51B	-1.76B	-683M	-2.53B
Change in Accounts Payable	719M	824M	1.64B	-272M	-720M
Change in Unearned Revenues	-113M	-42M	290M	-113M	-15M
Change In Income Taxes	140M	-338M	-103M	404M	-297M
Change in insurance Reserves / Liabilities	2.6B	2.25B	147M	-1.84B	228M
Change in Other Net Operating Assets (Collected)	-12M	65M	-747M	785M	53M
Other Operating Activities	-1M	468M	96M	62M	373M
Cash from Operations	8.36B	8.4B	8.06B	5.81B	4.29B
Capital Expenditure	-1.09B	-1.15B	-1.3B	-1.26B	-1.12B
Sale of Property, Plant, and Equipment	-	-	-	-	-
Cash Acquisitions	-3.48B	-649M	-1.55B	-4.81B	88M
Divestitures	-	-	-	363M	-
Investment in Marketable and Equity Securities, Total	-4.06B	-2.34B	-2.7B	586M	69M
Other Investing Activities, Total	-1.02B	-421M	-24M	-51M	-385M
Cash from Investing	-9.64B	-4.56B	-5.57B	-5.17B	-1.34B
Short Term Debt Issued, Total	2.33B	2.6B	339M	275M	3.2B
Long-Term Debt Issued, Total	3.46B	3.07B	2.57B	7.71B	2.99B
Total Debt Issued	5.79B	5.67B	2.91B	7.98B	6.19B
Short Term Debt Repaid, Total	-1.05B	-1.68B	-342M	-848M	-1.72B
Long-Term Debt Repaid, Total	-1.07B	-1.9B	-1.91B	-1.65B	-2.15B
Total Debt Repaid	-2.12B	-3.57B	-2.25B	-2.5B	-3.87B
Issuance of Common Stock	203M	182M	152M	221M	79M
Repurchase of Common Stock	-2B	-2.41B	-2.78B	-3.01B	-2.64B
Common Dividends Paid	-1.1B	-1.23B	-1.4B	-1.51B	-1.53B
Common & Preferred Stock Dividends Paid	-1.1B	-1.23B	-1.4B	-1.51B	-1.53B
Other Financing Activities, Total	-349M	41M	7M	2M	22M
Cash from Financing	423M	-1.32B	-3.35B	1.19B	-1.74B
Foreign Exchange Rate Adjustments	-10M	-14M	-1M	-6M	-5M
Miscellaneous Cash Flow Adjustments	-	-	-	-66M	-
Net Change in Cash	-861M	2.51B	-861M	1.76B	1.2B
Supplemental Items
Cash Interest Paid	822M	878M	1.03B	1.24B	1.41B
Cash Income Tax Paid (Refund)	1.3B	1.59B	1.94B	1.3B	315M
Net Debt Issued / Repaid	3.68B	2.1B	662M	5.49B	2.33B
Levered Free Cash Flow	3.57B	8.55B	3B	6.85B	3.4B
Unlevered Free Cash Flow	4.07B	9.09B	3.65B	7.59B	4.28B
Change In Net Working Capital	2B	-2.88B	3.27B	-1.51B	1.62B

Fiscal Period: December	2021	2022	2023	2024	2025
Profitability
Return on Assets	6.08	5.41	5.84	5.09	4.35
Return on Total Capital	9.79	8.91	9.75	8.28	6.9
Return On Equity %	17.58	16.6	15.82	14.77	13.25
Return on Common Equity	17.63	16.65	15.85	14.83	13.29
Margin Analysis
Gross Profit Margin %	25.96	25.61	27.44	27.85	25.56
SG&A Margin	19.19	19.59	21.15	22.32	21.08
EBITDA Margin %	7.05	6.22	6.39	5.57	4.54
EBITA Margin %	6.78	6.02	6.29	5.53	4.48
EBIT Margin %	6.46	5.53	5.77	5.2	4.17
Income From Continuing Operations Margin %	4.4	3.84	3.5	3.38	2.84
Net Income Margin %	4.4	3.85	3.49	3.38	2.84
Net Avail. For Common Margin %	4.4	3.85	3.49	3.38	2.84
Normalized Net Income Margin	3.68	3.12	3.23	2.84	2.16
Levered Free Cash Flow Margin	2.57	5.46	1.75	3.87	1.71
Unlevered Free Cash Flow Margin	2.94	5.8	2.13	4.29	2.15
Asset Turnover
Asset Turnover	1.51	1.56	1.62	1.57	1.67
Fixed Assets Turnover	31.96	33.08	34.74	34.8	38.48
Receivables Turnover (Average Receivables)	21.67	21.11	19.31	18.38	18.45
Short Term Liquidity
Current Ratio	1.47	1.4	1.44	1.45	1.54
Quick Ratio	1.33	1.27	1.3	1.32	1.41
Operating Cash Flow to Current Liabilities	0.24	0.21	0.19	0.14	0.1
Days Sales Outstanding (Average Receivables)	16.84	17.29	18.9	19.92	19.78
Average Days Payable Outstanding	80.81	80.13	81.84	79.61	67.61
Long Term Solvency
Total Debt/Equity	66.51	68.82	65.9	77.35	74.39
Total Debt / Total Capital	39.94	40.76	39.72	43.61	42.66
LT Debt/Equity	60.95	63.47	60.73	72.12	71.25
Long-Term Debt / Total Capital	36.61	37.6	36.61	40.66	40.86
Total Liabilities / Total Assets	62.93	64.59	63.82	64.56	63.76
EBIT / Interest Expense	11.17	10.13	9.6	7.76	5.91
EBITDA / Interest Expense	12.56	11.6	10.82	8.46	6.55
(EBITDA - Capex) / Interest Expense	11.21	10.25	9.56	7.4	5.75
Total Debt / EBITDA	2.38	2.53	2.33	3.2	3.57
Net Debt / EBITDA	1.9	1.78	1.75	2.37	2.53
Total Debt / (EBITDA - Capex)	2.67	2.86	2.64	3.65	4.06
Net Debt / (EBITDA - Capex)	2.13	2.02	1.97	2.71	2.88
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	13.76	12.95	9.41	3.19	12.62
Gross Profit, 1 Yr. Growth %	6.43	11.43	17.65	4.75	3.37
EBITDA, 1 Yr. Growth %	8.58	-0.36	14.41	-9.98	-14.08
EBITA, 1 Yr. Growth %	9.01	0.34	16.34	-9.25	-14.54
EBIT, 1 Yr. Growth %	8.44	-3.28	16.42	-7	-15.88
Earnings From Cont. Operations, 1 Yr. Growth %	33.31	-1.25	1.75	-0.33	-5.19
Net Income, 1 Yr. Growth %	33.51	-1.29	1.58	-0.12	-5.32
Normalized Net Income, 1 Yr. Growth %	9.29	-4.31	15.74	-9.33	-20.67
Diluted EPS Before Extra, 1 Yr. Growth %	37.54	0.32	3.87	1.82	-1.83
Net Property, Plant and Equip., 1 Yr. Growth %	10.12	8.2	0.47	5.58	-1.69
Accounts Receivable, 1 Yr. Growth %	7.62	24.68	11.56	1.38	25.74
Total Assets, 1 Yr. Growth %	12.52	5.45	6.01	7.31	3.94
Common Equity, 1 Yr. Growth %	8.62	0.68	8.45	5.11	6.21
Tangible Book Value, 1 Yr. Growth %	-42.13	32.21	140.52	-74.6	359.53
Cash From Operations, 1 Yr. Growth %	-21.74	0.42	-4.02	-27.95	-26.14
Capital Expenditures, 1 Yr. Growth %	6.46	5.98	12.5	-3.09	-11.15
Levered Free Cash Flow, 1 Yr. Growth %	-47.04	139.53	-64.42	127.81	-53.18
Unlevered Free Cash Flow, 1 Yr. Growth %	-43.7	123.17	-59.37	107.92	-46.56
Dividend Per Share, 1 Yr. Growth %	18.95	13.27	15.62	10.14	4.91
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	15.34	13.36	11.17	6.26	7.8
Gross Profit, 2 Yr. CAGR %	26.7	8.9	14.16	11.01	4.06
EBITDA, 2 Yr. CAGR %	14.81	4.01	5.46	1.65	-9.13
EBITA, 2 Yr. CAGR %	15.29	4.59	6.67	2.93	-8.98
EBIT, 2 Yr. CAGR %	15.35	2.41	4.67	4.25	-8.4
Earnings From Cont. Operations, 2 Yr. CAGR %	12.6	14.74	-1.29	0.7	-2.79
Net Income, 2 Yr. CAGR %	12.69	14.8	-1.4	0.73	-2.75
Normalized Net Income, 2 Yr. CAGR %	16.81	2.27	3.65	2.65	-11.74
Diluted EPS Before Extra, 2 Yr. CAGR %	15.71	17.47	0.54	2.84	-0.02
Net Property, Plant and Equip., 2 Yr. CAGR %	10.74	9.16	4.26	2.99	1.88
Accounts Receivable, 2 Yr. CAGR %	6.44	15.83	17.94	6.35	12.9
Total Assets, 2 Yr. CAGR %	12.17	8.93	5.72	6.66	5.61
Common Equity, 2 Yr. CAGR %	6.61	4.58	4.4	6.77	5.66
Tangible Book Value, 2 Yr. CAGR %	-30.97	-12.53	74.74	-21.83	8.05
Cash From Operations, 2 Yr. CAGR %	17.47	-11.35	-1.83	-16.84	-27.05
Capital Expenditures, 2 Yr. CAGR %	0.46	6.22	9.19	4.42	-7.2
Levered Free Cash Flow, 2 Yr. CAGR %	30.63	12.63	-8.81	-9.86	6.37
Unlevered Free Cash Flow, 2 Yr. CAGR %	26.17	12.09	-5.84	-7.98	8.26
Dividend Per Share, 2 Yr. CAGR %	18.85	16.08	14.44	12.85	7.49
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	14.61	14.54	12.03	8.44	8.34
Gross Profit, 3 Yr. CAGR %	21.25	21.39	11.6	10.93	8.41
EBITDA, 3 Yr. CAGR %	14.65	9.51	6.74	0.04	-1.77
EBITA, 3 Yr. CAGR %	15.02	10.08	7.71	1.08	-1.11
EBIT, 3 Yr. CAGR %	15.47	8.77	6.18	0.62	-0.65
Earnings From Cont. Operations, 3 Yr. CAGR %	17.57	7.78	9.43	-0.97	-1.3
Net Income, 3 Yr. CAGR %	17.63	7.82	9.4	-0.97	-1.33
Normalized Net Income, 3 Yr. CAGR %	17.17	9.3	5.8	-0.87	-3.26
Diluted EPS Before Extra, 3 Yr. CAGR %	20.34	10.34	11.94	0.97	1.26
Net Property, Plant and Equip., 3 Yr. CAGR %	18.46	9.89	6.18	4.7	1.41
Accounts Receivable, 3 Yr. CAGR %	8.36	12.2	14.39	12.14	12.46
Total Assets, 3 Yr. CAGR %	10.84	9.89	7.94	6.25	5.74
Common Equity, 3 Yr. CAGR %	8.11	4.6	5.79	4.64	6.58
Tangible Book Value, 3 Yr. CAGR %	7.85	-14.27	20.9	-8.12	41.08
Cash From Operations, 3 Yr. CAGR %	29.77	11.49	-8.97	-11.45	-20.06
Capital Expenditures, 3 Yr. CAGR %	-3.46	2.27	8.27	4.93	-1.05
Levered Free Cash Flow, 3 Yr. CAGR %	-8.15	59.89	-23.61	23.73	-26.1
Unlevered Free Cash Flow, 3 Yr. CAGR %	-7.04	52.58	-20.39	22.62	-21.85
Dividend Per Share, 3 Yr. CAGR %	14.64	16.96	15.93	12.99	10.14
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	10.32	11.7	13.22	11.15	10.32
Gross Profit, 5 Yr. CAGR %	14.83	17.63	18.41	17.04	8.52
EBITDA, 5 Yr. CAGR %	11.65	12.82	11.04	5.86	0.08
EBITA, 5 Yr. CAGR %	11.44	12.8	11.77	6.7	0.7
EBIT, 5 Yr. CAGR %	11.16	11.65	11.19	6.44	0.09
Earnings From Cont. Operations, 5 Yr. CAGR %	19.8	9.39	9.82	4.43	4.37
Net Income, 5 Yr. CAGR %	19.84	9.41	9.81	4.46	4.37
Normalized Net Income, 5 Yr. CAGR %	12.39	12.98	11.75	6.04	-1.6
Diluted EPS Before Extra, 5 Yr. CAGR %	21.84	11.57	12.19	6.81	6.99
Net Property, Plant and Equip., 5 Yr. CAGR %	18.11	17.73	12.57	7.08	4.44
Accounts Receivable, 5 Yr. CAGR %	-0.62	14.46	12.09	9.82	13.79
Total Assets, 5 Yr. CAGR %	8.41	7.82	8.76	8.58	7
Common Equity, 5 Yr. CAGR %	7.52	6.5	6.61	5.42	5.74
Tangible Book Value, 5 Yr. CAGR %	23.38	7.98	30.82	-18.05	15.58
Cash From Operations, 5 Yr. CAGR %	20.66	14.95	16.07	-0.85	-16.69
Capital Expenditures, 5 Yr. CAGR %	13.23	7.81	1.42	3.12	1.8
Levered Free Cash Flow, 5 Yr. CAGR %	1.58	35.2	-8.19	26.76	-12.79
Unlevered Free Cash Flow, 5 Yr. CAGR %	1.65	30.94	-6.36	24.29	-9.97
Dividend Per Share, 5 Yr. CAGR %	11.69	13.65	14.56	15.3	12.47