Stock Analysis on Net

Elevance Health Inc. (NYSE:ELV)

Balance Sheet: Assets 
Quarterly Data

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.

Elevance Health Inc., consolidated balance sheet: assets (quarterly data)

US$ in millions

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Mar 31, 2025 Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 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
Cash and cash equivalents 7,500 8,288 7,866 6,497 6,226 6,526 10,919 9,991 10,142 7,387 8,872 6,456 6,161 4,880 5,490 5,258 9,326 5,741 3,984 6,028 5,345
Fixed maturity securities 25,437 25,201 28,954 28,900 29,530 29,614 27,811 28,021 27,636 25,952 25,526 25,765 26,219 26,267 26,348 25,848 24,555 23,433 22,707 22,018 19,881
Equity securities 715 1,192 1,113 594 511 229 165 272 392 953 1,503 1,572 1,662 1,881 2,119 1,746 3,630 1,559 3,075 3,470 570
Premium receivables 10,359 8,011 7,209 8,040 8,931 7,902 7,883 7,431 8,246 7,083 6,682 6,757 7,349 5,681 6,008 5,834 6,111 5,279 5,343 5,456 5,786
Self-funded receivables 5,246 5,044 5,135 5,297 4,242 4,558 3,756 3,896 3,786 4,663 3,873 3,844 3,979 4,010 3,349 3,605 3,109 2,849 2,985 2,460 2,613
Other receivables 6,576 6,016 6,055 5,881 5,120 5,405 5,293 5,196 4,678 4,298 3,651 3,600 3,334 3,749 3,450 3,246 3,071 2,830 3,209 3,072 2,926
Other current assets 5,288 4,700 5,949 6,464 6,388 5,795 5,358 4,936 4,943 5,281 5,496 5,661 5,193 4,654 5,140 4,701 4,693 4,060 4,147 4,260 4,135
Assets held for sale 490 565 601
Current assets 61,121 58,942 62,846 62,274 60,948 60,029 61,185 59,743 59,823 55,617 55,603 53,655 53,897 51,122 51,904 50,238 54,495 45,751 45,450 46,764 41,256
Fixed maturity securities 1,060 1,035 893 849 880 876 816 775 783 752 622 603 596 632 625 581 558 562 558 520 505
Other invested assets 10,167 9,749 9,394 6,810 6,713 6,107 6,118 5,993 5,971 5,685 5,516 5,398 5,365 5,225 4,959 4,917 4,474 4,285 4,170 4,097 4,181
Long-term investments 11,227 10,784 10,287 7,659 7,593 6,983 6,934 6,768 6,754 6,437 6,138 6,001 5,961 5,857 5,584 5,498 5,032 4,847 4,728 4,617 4,686
Property and equipment, net 4,617 4,652 4,505 4,450 4,451 4,359 4,248 4,547 4,418 4,316 4,197 4,090 3,986 3,919 3,835 3,733 3,533 3,483 3,363 3,427 3,350
Goodwill 28,420 28,277 25,967 25,962 25,947 25,317 25,291 25,274 25,273 24,383 24,381 24,367 24,251 24,228 24,184 24,399 21,708 21,691 21,687 21,641 21,661
Other intangible assets 11,940 12,094 10,325 10,447 10,710 10,273 10,491 10,703 10,915 10,315 10,536 10,762 10,588 10,615 10,749 10,540 9,352 9,405 9,497 9,577 9,613
Other noncurrent assets 2,392 2,140 2,603 2,196 2,245 1,967 2,329 2,133 1,857 1,704 2,171 2,002 1,803 1,719 1,804 1,689 1,563 1,438 1,849 1,950 1,833
Noncurrent assets 58,596 57,947 53,687 50,714 50,946 48,899 49,293 49,425 49,217 47,155 47,423 47,222 46,589 46,338 46,156 45,859 41,188 40,864 41,124 41,212 41,143
Total assets 119,717 116,889 116,533 112,988 111,894 108,928 110,478 109,168 109,040 102,772 103,026 100,877 100,486 97,460 98,060 96,097 95,683 86,615 86,574 87,976 82,399

Based on: 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).


The analysis of the financial data over multiple quarters reveals several key trends and patterns in the company's asset composition and liquidity.

Cash and Cash Equivalents
Cash balances exhibit volatility throughout the periods, peaking notably at the end of Q1 2023 with US$10,142 million, followed by a decline in subsequent quarters. Despite fluctuations, cash holdings generally remain substantial, indicating a strong liquidity position though with frequent variances suggesting changing cash management or operational cash flows.
Fixed Maturity Securities
Long-term fixed maturity securities show a gradual upward trend from US$19,881 million at the beginning of 2020 to a high point of approximately US$29,530 million mid-2024, before a slight decrease nearing the end of the period. Short-term fixed maturity securities also steadily increase, from US$505 million to above US$1,000 million by early 2025, reflecting ongoing investment in debt instruments.
Equity Securities
Equity securities holdings fluctuate more prominently, starting from US$570 million and reaching a peak of US$3,630 million by Q1 2021, followed by a general decline to lower values near US$700 million in early 2025. This trend might indicate active portfolio rebalancing or realization of gains.
Receivables
Premium receivables increase overall, rising from about US$5,786 million to over US$10,359 million by Q1 2025, signaling growth in underwriting or premium income. Self-funded receivables show fluctuations but an overall upward trajectory with occasional dips, ending slightly higher than they started. Other receivables steadily increase, reaching approximately US$6,576 million by early 2025, suggesting growth in miscellaneous receivables or other operating income sources.
Other Current Assets
These assets show moderate variability, with a peak around US$6,464 million in mid-2024 followed by a decrease to below US$5,300 million by Q1 2025, indicating changes in short-term asset management or operational adjustments.
Assets Held for Sale
This category appears late in the data set with relatively small values, decreasing from US$601 million in Q3 2024 to US$490 million by Q1 2025, suggesting the disposal of non-core assets or restructuring efforts.
Total Current Assets
Overall, current assets show a positive trend, increasing from US$41,256 million in early 2020 to a peak near US$62,846 million in late 2024 before a slight decline, suggesting growth in short-term liquidity and operational resources.
Other Invested Assets and Long-term Investments
Other invested assets and long-term investments both show significant increases, with other invested assets rising from approximately US$4,181 million to over US$10,000 million and long-term investments increasing from about US$4,686 million to above US$11,000 million by early 2025. These trends suggest aggressive investment or strategic asset accumulation efforts.
Property and Equipment, Net
Property and equipment values increase steadily from US$3,350 million to approximately US$4,617 million by Q1 2025 with a slight dip in some quarters, reflecting investment in physical assets or depreciation patterns.
Goodwill
Goodwill remains substantial and generally stable around US$21,600 to US$25,000 million through 2021, with a notable increase after 2023 peaking near US$28,400 million by Q1 2025. This indicates acquisitions or business combinations contributing to intangible asset growth.
Other Intangible Assets
Intangible assets fluctuate slightly but remain near US$10,000 million, with a peak above US$12,000 million in late 2024, suggesting ongoing investments or valuation changes in intangible holdings.
Other Noncurrent Assets and Noncurrent Assets
Other noncurrent assets show variability but an upward trend nearing US$2,400 million, and total noncurrent assets increase from about US$41,143 million to nearly US$58,596 million by early 2025, underlining growth in longer-term asset holds.
Total Assets
Total assets display consistent growth from US$82,399 million in early 2020 to almost US$120,000 million by Q1 2025, indicating expansion of the asset base, potentially driven by acquisitions, investment growth, and operational scale-up.

In summary, the data show a company expanding its asset base steadily, with significant increases in investments and receivables supporting growth. Liquidity remains strong though cash levels fluctuate. Increases in goodwill and intangible assets suggest ongoing acquisitions or value recognition of non-physical assets. The trends indicate a strategy of asset growth combined with active management of investment portfolios and receivables, contributing to overall financial expansion over the observed period.


Assets: Selected Items


Current Assets: Selected Items