Stock Analysis on Net
Stock Analysis on Net

Elevance Health Inc. (NYSE:ELV)

Analysis of Long-term (Investment) Activity Ratios 
Quarterly Data

Microsoft Excel

Activity ratios measure how efficiently a company performs day-to-day tasks, such us the collection of receivables and management of inventory.

Long-term Activity Ratios (Summary)

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

Microsoft Excel
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 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Net fixed asset turnover 38.33 38.30 38.32 39.05 39.41 36.19 36.14 36.07 36.22 36.17 35.81 34.94 34.54 34.17 34.94 34.69 34.61 32.74 32.30 32.92 — — —
Total asset turnover 1.48 1.51 1.52 1.56 1.52 1.51 1.46 1.51 1.48 1.47 1.42 1.41 1.35 1.33 1.29 1.39 1.34 1.28 1.31 1.33 — — —
Equity turnover 3.94 4.04 4.20 4.33 4.36 4.31 4.27 4.29 4.22 4.13 3.97 3.80 3.71 3.65 3.65 3.64 3.43 3.26 3.41 3.25 — — —

Based on: 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), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

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 deteriorated from Q1 2024 to Q2 2024 but then improved from Q2 2024 to Q3 2024 exceeding Q1 2024 level.
Total asset turnover An activity ratio calculated as total revenue divided by total assets. Elevance Health Inc. total asset turnover ratio deteriorated from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024.
Equity turnover An activity ratio calculated as total revenue divided by shareholders’ equity. Elevance Health Inc. equity turnover ratio deteriorated from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024.

Net Fixed Asset Turnover

Elevance Health Inc., net fixed asset turnover calculation (quarterly data)

Microsoft Excel
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 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Selected Financial Data (US$ in millions)
Operating revenue 44,719 43,223 42,273 42,454 42,480 43,377 41,898 39,667 39,625 38,482 37,886 36,018 35,548 33,279 32,098 31,533 30,649 29,178 29,448 27,132 26,444 25,177 24,388
Property and equipment, net 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 3,133 2,921 2,837 2,799
Long-term Activity Ratio
Net fixed asset turnover1 38.33 38.30 38.32 39.05 39.41 36.19 36.14 36.07 36.22 36.17 35.81 34.94 34.54 34.17 34.94 34.69 34.61 32.74 32.30 32.92 — — —
Benchmarks
Net Fixed Asset Turnover, Competitors2
Abbott Laboratories 3.88 3.98 3.99 3.95 4.18 4.26 4.47 4.76 5.18 5.17 5.00 4.81 4.79 4.56 4.23 3.83 3.74 3.77 4.06 3.97 — — —
Cigna Group 64.44 61.03 56.79 52.53 48.12 47.67 47.44 47.53 47.84 48.61 47.95 46.73 41.42 40.56 39.29 37.85 37.05 36.02 35.37 34.45 — — —
CVS Health Corp. 28.85 27.77 27.59 27.05 26.62 26.00 25.63 24.98 24.90 24.05 23.26 22.56 22.24 21.90 21.42 21.25 21.48 21.52 21.49 21.24 — — —
Humana Inc. 42.25 39.29 36.28 34.75 30.35 29.59 29.40 28.71 28.37 28.64 27.05 26.97 27.83 29.47 31.04 32.05 32.90 33.07 33.20 32.93 — — —
Intuitive Surgical Inc. 1.77 1.84 1.93 2.01 2.23 2.35 2.49 2.62 2.73 2.83 3.00 3.04 3.16 3.13 2.86 2.76 2.85 3.00 3.36 3.52 — — —
Medtronic PLC 5.54 5.57 5.57 5.61 5.66 5.82 5.88 5.85 6.05 6.13 6.12 5.77 5.56 5.64 5.72 5.99 6.52 6.50 6.51 6.54 — — —
UnitedHealth Group Inc. 38.37 38.90 35.98 32.10 32.18 31.60 31.35 31.81 33.07 32.33 32.16 31.81 31.77 30.94 30.76 29.64 30.80 30.30 29.91 27.60 — — —

Based on: 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), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Q3 2024 Calculation
Net fixed asset turnover = (Operating revenueQ3 2024 + Operating revenueQ2 2024 + Operating revenueQ1 2024 + Operating revenueQ4 2023) ÷ Property and equipment, net
= (44,719 + 43,223 + 42,273 + 42,454) ÷ 4,505 = 38.33

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 deteriorated from Q1 2024 to Q2 2024 but then improved from Q2 2024 to Q3 2024 exceeding Q1 2024 level.

Total Asset Turnover

Elevance Health Inc., total asset turnover calculation (quarterly data)

Microsoft Excel
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 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Selected Financial Data (US$ in millions)
Operating revenue 44,719 43,223 42,273 42,454 42,480 43,377 41,898 39,667 39,625 38,482 37,886 36,018 35,548 33,279 32,098 31,533 30,649 29,178 29,448 27,132 26,444 25,177 24,388
Total assets 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 77,453 77,809 75,851 74,523
Long-term Activity Ratio
Total asset turnover1 1.48 1.51 1.52 1.56 1.52 1.51 1.46 1.51 1.48 1.47 1.42 1.41 1.35 1.33 1.29 1.39 1.34 1.28 1.31 1.33 — — —
Benchmarks
Total Asset Turnover, Competitors2
Abbott Laboratories 0.55 0.56 0.56 0.55 0.55 0.55 0.56 0.59 0.62 0.61 0.60 0.57 0.57 0.55 0.51 0.48 0.47 0.46 0.48 0.47 — — —
Cigna Group 1.47 1.39 1.34 1.27 1.26 1.23 1.23 1.25 1.24 1.17 1.15 1.11 1.09 1.07 1.06 1.02 0.97 0.96 0.99 0.98 — — —
CVS Health Corp. 1.45 1.43 1.44 1.43 1.38 1.35 1.38 1.41 1.36 1.33 1.28 1.25 1.21 1.20 1.18 1.16 1.14 1.12 1.13 1.15 — — —
Humana Inc. 2.28 2.21 2.16 2.24 1.81 1.73 1.74 2.15 1.80 1.91 1.86 1.87 1.78 2.08 2.08 2.17 1.90 1.82 1.94 2.21 — — —
Intuitive Surgical Inc. 0.44 0.45 0.46 0.46 0.47 0.48 0.49 0.48 0.46 0.44 0.43 0.42 0.42 0.42 0.39 0.39 0.41 0.43 0.47 0.46 — — —
Medtronic PLC 0.36 0.35 0.35 0.34 0.33 0.33 0.35 0.35 0.35 0.35 0.34 0.32 0.29 0.29 0.30 0.32 0.33 0.34 0.34 0.34 — — —
UnitedHealth Group Inc. 1.30 1.33 1.32 1.34 1.26 1.23 1.18 1.31 1.29 1.32 1.33 1.34 1.30 1.29 1.27 1.30 1.31 1.28 1.29 1.38 — — —

Based on: 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), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Q3 2024 Calculation
Total asset turnover = (Operating revenueQ3 2024 + Operating revenueQ2 2024 + Operating revenueQ1 2024 + Operating revenueQ4 2023) ÷ Total assets
= (44,719 + 43,223 + 42,273 + 42,454) ÷ 116,533 = 1.48

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 deteriorated from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024.

Equity Turnover

Elevance Health Inc., equity turnover calculation (quarterly data)

Microsoft Excel
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 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Selected Financial Data (US$ in millions)
Operating revenue 44,719 43,223 42,273 42,454 42,480 43,377 41,898 39,667 39,625 38,482 37,886 36,018 35,548 33,279 32,098 31,533 30,649 29,178 29,448 27,132 26,444 25,177 24,388
Shareholders’ equity 43,775 42,191 40,608 39,306 38,423 38,205 37,356 36,307 35,991 35,812 35,975 36,060 35,737 34,968 33,853 33,199 33,921 34,455 31,693 31,728 31,332 30,793 29,998
Long-term Activity Ratio
Equity turnover1 3.94 4.04 4.20 4.33 4.36 4.31 4.27 4.29 4.22 4.13 3.97 3.80 3.71 3.65 3.65 3.64 3.43 3.26 3.41 3.25 — — —
Benchmarks
Equity Turnover, Competitors2
Abbott Laboratories 1.04 1.04 1.04 1.04 1.07 1.08 1.12 1.19 1.26 1.25 1.26 1.20 1.23 1.19 1.11 1.06 1.03 1.03 1.06 1.03 — — —
Cigna Group 5.50 5.24 4.97 4.20 4.13 4.07 4.09 4.00 3.98 3.88 3.81 3.66 3.56 3.40 3.36 3.16 3.24 3.24 3.39 3.36 — — —
CVS Health Corp. 4.90 4.83 4.86 4.66 4.66 4.65 4.62 4.53 4.45 4.08 4.05 3.87 3.82 3.79 3.81 3.86 3.86 3.87 4.01 4.00 — — —
Humana Inc. 6.48 6.65 6.70 6.48 5.98 5.82 5.74 6.04 5.62 5.77 5.63 5.15 4.96 5.34 5.48 5.54 4.65 4.86 5.44 5.35 — — —
Intuitive Surgical Inc. 0.50 0.51 0.52 0.54 0.55 0.56 0.57 0.56 0.53 0.50 0.49 0.48 0.48 0.48 0.45 0.45 0.47 0.50 0.54 0.54 — — —
Medtronic PLC 0.62 0.62 0.62 0.61 0.60 0.59 0.59 0.60 0.60 0.61 0.61 0.59 0.55 0.56 0.56 0.57 0.60 0.61 0.61 0.61 — — —
UnitedHealth Group Inc. 4.12 4.27 4.33 4.14 4.22 4.19 4.10 4.14 4.19 4.18 4.06 3.98 3.95 3.92 3.94 3.90 3.85 3.87 4.29 4.17 — — —

Based on: 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), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Q3 2024 Calculation
Equity turnover = (Operating revenueQ3 2024 + Operating revenueQ2 2024 + Operating revenueQ1 2024 + Operating revenueQ4 2023) ÷ Shareholders’ equity
= (44,719 + 43,223 + 42,273 + 42,454) ÷ 43,775 = 3.94

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 deteriorated from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024.