Stock Analysis on Net

Elevance Health Inc. (NYSE:ELV)

Analysis of Long-term (Investment) Activity Ratios

Microsoft Excel

Long-term Activity Ratios (Summary)

Elevance Health Inc., long-term (investment) activity ratios

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Net fixed asset turnover 37.66 39.05 36.07 34.94 34.69
Net fixed asset turnover (including operating lease, right-of-use asset) 33.57 34.43 31.64 30.12 29.26
Total asset turnover 1.50 1.56 1.51 1.41 1.39
Equity turnover 4.24 4.33 4.29 3.80 3.64

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

Long-term activity ratio Description The company
Net fixed asset turnover An activity ratio calculated as total revenue divided by net fixed assets. Elevance Health Inc. net fixed asset turnover ratio improved from 2022 to 2023 but then slightly deteriorated from 2023 to 2024.
Net fixed asset turnover (including operating lease, right-of-use asset) An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). Elevance Health Inc. net fixed asset turnover ratio (with operating lease, right-of-use asset) improved from 2022 to 2023 but then slightly deteriorated from 2023 to 2024.
Total asset turnover An activity ratio calculated as total revenue divided by total assets. Elevance Health Inc. total asset turnover ratio improved from 2022 to 2023 but then deteriorated significantly from 2023 to 2024.
Equity turnover An activity ratio calculated as total revenue divided by shareholders’ equity. Elevance Health Inc. equity turnover ratio improved from 2022 to 2023 but then deteriorated significantly from 2023 to 2024.

Net Fixed Asset Turnover

Elevance Health Inc., net fixed asset turnover calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Selected Financial Data (US$ in millions)
Operating revenue 175,204 170,209 155,660 136,943 120,808
Property and equipment, net 4,652 4,359 4,316 3,919 3,483
Long-term Activity Ratio
Net fixed asset turnover1 37.66 39.05 36.07 34.94 34.69
Benchmarks
Net Fixed Asset Turnover, Competitors2
Abbott Laboratories 3.94 3.95 4.76 4.81 3.83
Cigna Group 67.36 52.53 47.53 46.73 37.85
CVS Health Corp. 28.53 27.05 24.98 22.56 21.25
Intuitive Surgical Inc. 1.80 2.01 2.62 3.04 2.76
Medtronic PLC 5.28 5.61 5.85 5.77 5.99
UnitedHealth Group Inc. 37.44 32.10 31.81 31.81 29.64
Net Fixed Asset Turnover, Sector
Health Care Equipment & Services 23.83 22.46 22.07 21.18 19.65
Net Fixed Asset Turnover, Industry
Health Care 10.08 9.76 10.25 10.04 9.24

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

1 2024 Calculation
Net fixed asset turnover = Operating revenue ÷ Property and equipment, net
= 175,204 ÷ 4,652 = 37.66

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Net fixed asset turnover An activity ratio calculated as total revenue divided by net fixed assets. Elevance Health Inc. net fixed asset turnover ratio improved from 2022 to 2023 but then slightly deteriorated from 2023 to 2024.

Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset)

Elevance Health Inc., net fixed asset turnover (including operating lease, right-of-use asset) calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Selected Financial Data (US$ in millions)
Operating revenue 175,204 170,209 155,660 136,943 120,808
 
Property and equipment, net 4,652 4,359 4,316 3,919 3,483
Operating leases, ROU assets (located in Other noncurrent assets) 567 584 604 628 646
Property and equipment, net (including operating lease, right-of-use asset) 5,219 4,943 4,920 4,547 4,129
Long-term Activity Ratio
Net fixed asset turnover (including operating lease, right-of-use asset)1 33.57 34.43 31.64 30.12 29.26
Benchmarks
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Competitors2
Abbott Laboratories 3.58 3.56 4.25 4.26 3.42
Cigna Group 67.36 47.75 43.23 41.37 33.46
CVS Health Corp. 12.81 11.72 10.46 9.09 8.04
Intuitive Surgical Inc. 1.75 1.97 2.53 2.93 2.66
Medtronic PLC 4.53 4.72 5.06 4.84 5.02
UnitedHealth Group Inc. 25.58 22.48 21.54 21.54 19.55
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Sector
Health Care Equipment & Services 16.51 15.10 14.37 13.35 11.97
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Industry
Health Care 8.36 7.96 8.24 7.94 7.24

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

1 2024 Calculation
Net fixed asset turnover (including operating lease, right-of-use asset) = Operating revenue ÷ Property and equipment, net (including operating lease, right-of-use asset)
= 175,204 ÷ 5,219 = 33.57

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Net fixed asset turnover (including operating lease, right-of-use asset) An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). Elevance Health Inc. net fixed asset turnover ratio (with operating lease, right-of-use asset) improved from 2022 to 2023 but then slightly deteriorated from 2023 to 2024.

Total Asset Turnover

Elevance Health Inc., total asset turnover calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Selected Financial Data (US$ in millions)
Operating revenue 175,204 170,209 155,660 136,943 120,808
Total assets 116,889 108,928 102,772 97,460 86,615
Long-term Activity Ratio
Total asset turnover1 1.50 1.56 1.51 1.41 1.39
Benchmarks
Total Asset Turnover, Competitors2
Abbott Laboratories 0.52 0.55 0.59 0.57 0.48
Cigna Group 1.58 1.27 1.25 1.11 1.02
CVS Health Corp. 1.46 1.43 1.41 1.25 1.16
Intuitive Surgical Inc. 0.45 0.46 0.48 0.42 0.39
Medtronic PLC 0.36 0.34 0.35 0.32 0.32
UnitedHealth Group Inc. 1.32 1.34 1.31 1.34 1.30
Total Asset Turnover, Sector
Health Care Equipment & Services 1.25 1.21 1.18 1.10 1.03
Total Asset Turnover, Industry
Health Care 0.81 0.76 0.79 0.73 0.68

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

1 2024 Calculation
Total asset turnover = Operating revenue ÷ Total assets
= 175,204 ÷ 116,889 = 1.50

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Total asset turnover An activity ratio calculated as total revenue divided by total assets. Elevance Health Inc. total asset turnover ratio improved from 2022 to 2023 but then deteriorated significantly from 2023 to 2024.

Equity Turnover

Elevance Health Inc., equity turnover calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Selected Financial Data (US$ in millions)
Operating revenue 175,204 170,209 155,660 136,943 120,808
Shareholders’ equity 41,315 39,306 36,307 36,060 33,199
Long-term Activity Ratio
Equity turnover1 4.24 4.33 4.29 3.80 3.64
Benchmarks
Equity Turnover, Competitors2
Abbott Laboratories 0.88 1.04 1.19 1.20 1.06
Cigna Group 6.00 4.20 4.00 3.66 3.16
CVS Health Corp. 4.91 4.66 4.53 3.87 3.86
Intuitive Surgical Inc. 0.51 0.54 0.56 0.48 0.45
Medtronic PLC 0.64 0.61 0.60 0.59 0.57
UnitedHealth Group Inc. 4.26 4.14 4.14 3.98 3.90
Equity Turnover, Sector
Health Care Equipment & Services 3.48 3.30 3.21 2.93 2.80
Equity Turnover, Industry
Health Care 2.31 2.13 2.09 2.03 1.99

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

1 2024 Calculation
Equity turnover = Operating revenue ÷ Shareholders’ equity
= 175,204 ÷ 41,315 = 4.24

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Equity turnover An activity ratio calculated as total revenue divided by shareholders’ equity. Elevance Health Inc. equity turnover ratio improved from 2022 to 2023 but then deteriorated significantly from 2023 to 2024.