Analysis of Short-term (Operating) Activity Ratios
Activity ratios measure how efficiently a company performs day-to-day tasks, such us the collection of receivables and management of inventory.
Short-term Activity Ratios (Summary)
Elevance Health Inc., short-term (operating) activity ratios
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).
| Short-term activity ratio | Description | The company |
|---|---|---|
| Receivables turnover | An activity ratio equal to revenue divided by receivables. | Elevance Health Inc. receivables turnover ratio deteriorated from 2022 to 2023 and from 2023 to 2024. |
| Payables turnover | An activity ratio calculated as cost of goods sold divided by payables. | Elevance Health Inc. payables turnover ratio increased from 2022 to 2023 and from 2023 to 2024. |
| Working capital turnover | An activity ratio calculated as revenue divided by working capital. | Elevance Health Inc. working capital turnover ratio deteriorated from 2022 to 2023 but then slightly improved from 2023 to 2024. |
| Short-term activity ratio | Description | The company |
|---|---|---|
| Average receivable collection period | An activity ratio equal to the number of days in the period divided by receivables turnover. | |
| Average payables payment period | An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period. | Elevance Health Inc. number of days of payables outstanding decreased from 2022 to 2023 and from 2023 to 2024. |
Receivables Turnover
Elevance Health Inc., receivables turnover calculation, comparison to benchmarks
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Premiums | 144,166) | 142,854) | 133,229) | 117,373) | 104,109) | |
| Premium receivables | 8,011) | 7,902) | 7,083) | 5,681) | 5,279) | |
| Short-term Activity Ratio | ||||||
| Receivables turnover1 | 18.00 | 18.08 | 18.81 | 20.66 | 19.72 | |
| Benchmarks | ||||||
| Receivables Turnover, Competitors2 | ||||||
| Abbott Laboratories | 6.06 | 6.11 | 7.02 | 6.64 | 5.40 | |
| Cigna Group | 15.60 | 17.06 | 18.64 | 19.35 | 19.47 | |
| CVS Health Corp. | 10.16 | 10.12 | 11.79 | 11.91 | 12.32 | |
| Intuitive Surgical Inc. | 6.82 | 6.30 | 6.60 | 7.30 | 6.75 | |
| Medtronic PLC | 5.28 | 5.21 | 5.71 | 5.51 | 6.22 | |
| UnitedHealth Group Inc. | 17.66 | 17.27 | 18.22 | 20.07 | 19.86 | |
| Receivables Turnover, Sector | ||||||
| Health Care Equipment & Services | 12.67 | 12.57 | 13.78 | 14.11 | 14.06 | |
| Receivables Turnover, Industry | ||||||
| Health Care | 8.86 | 8.54 | 9.25 | 9.09 | 9.09 | |
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
Receivables turnover = Premiums ÷ Premium receivables
= 144,166 ÷ 8,011 = 18.00
2 Click competitor name to see calculations.
| Short-term activity ratio | Description | The company |
|---|---|---|
| Receivables turnover | An activity ratio equal to revenue divided by receivables. | Elevance Health Inc. receivables turnover ratio deteriorated from 2022 to 2023 and from 2023 to 2024. |
Payables Turnover
Elevance Health Inc., payables turnover calculation, comparison to benchmarks
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Benefit expense | 127,567) | 124,330) | 116,487) | 102,645) | 88,045) | |
| Medical claims payable | 15,746) | 16,111) | 15,596) | 13,518) | 11,359) | |
| Short-term Activity Ratio | ||||||
| Payables turnover1 | 8.10 | 7.72 | 7.47 | 7.59 | 7.75 | |
| Benchmarks | ||||||
| Payables Turnover, Competitors2 | ||||||
| Abbott Laboratories | 4.46 | 4.19 | 4.15 | 4.21 | 3.80 | |
| Cigna Group | 6.41 | 6.75 | 7.31 | 7.68 | 7.75 | |
| CVS Health Corp. | 20.22 | 20.36 | 18.07 | 19.14 | 19.72 | |
| Intuitive Surgical Inc. | 14.05 | 12.69 | 13.78 | 14.45 | 18.35 | |
| Medtronic PLC | 4.65 | 4.03 | 4.46 | 4.98 | 4.72 | |
| UnitedHealth Group Inc. | 7.72 | 7.47 | 7.26 | 7.63 | 7.29 | |
| Payables Turnover, Sector | ||||||
| Health Care Equipment & Services | 9.18 | 9.23 | 8.99 | 9.35 | 9.36 | |
| Payables Turnover, Industry | ||||||
| Health Care | 7.77 | 7.77 | 7.48 | 7.62 | 7.51 | |
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
Payables turnover = Benefit expense ÷ Medical claims payable
= 127,567 ÷ 15,746 = 8.10
2 Click competitor name to see calculations.
| Short-term activity ratio | Description | The company |
|---|---|---|
| Payables turnover | An activity ratio calculated as cost of goods sold divided by payables. | Elevance Health Inc. payables turnover ratio increased from 2022 to 2023 and from 2023 to 2024. |
Working Capital Turnover
Elevance Health Inc., working capital turnover calculation, comparison to benchmarks
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Current assets | 58,942) | 60,029) | 55,617) | 51,122) | 45,751) | |
| Less: Current liabilities | 40,581) | 41,791) | 39,696) | 34,885) | 29,453) | |
| Working capital | 18,361) | 18,238) | 15,921) | 16,237) | 16,298) | |
| Premiums | 144,166) | 142,854) | 133,229) | 117,373) | 104,109) | |
| Short-term Activity Ratio | ||||||
| Working capital turnover1 | 7.85 | 7.83 | 8.37 | 7.23 | 6.39 | |
| Benchmarks | ||||||
| Working Capital Turnover, Competitors2 | ||||||
| Abbott Laboratories | 4.42 | 4.54 | 4.48 | 3.87 | 4.06 | |
| Cigna Group | — | — | — | — | — | |
| CVS Health Corp. | — | — | — | — | — | |
| Intuitive Surgical Inc. | 1.56 | 1.14 | 1.29 | 1.22 | 0.77 | |
| Medtronic PLC | 2.90 | 2.47 | 2.97 | 2.15 | 2.48 | |
| UnitedHealth Group Inc. | — | — | — | — | — | |
| Working Capital Turnover, Sector | ||||||
| Health Care Equipment & Services | 900.07 | 415.26 | 169.58 | 62.36 | 83.81 | |
| Working Capital Turnover, Industry | ||||||
| Health Care | 25.24 | 20.96 | 19.09 | 14.05 | 14.19 | |
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
Working capital turnover = Premiums ÷ Working capital
= 144,166 ÷ 18,361 = 7.85
2 Click competitor name to see calculations.
| Short-term activity ratio | Description | The company |
|---|---|---|
| Working capital turnover | An activity ratio calculated as revenue divided by working capital. | Elevance Health Inc. working capital turnover ratio deteriorated from 2022 to 2023 but then slightly improved from 2023 to 2024. |
Average Receivable Collection Period
Elevance Health Inc., average receivable collection period calculation, comparison to benchmarks
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data | ||||||
| Receivables turnover | 18.00 | 18.08 | 18.81 | 20.66 | 19.72 | |
| Short-term Activity Ratio (no. days) | ||||||
| Average receivable collection period1 | 20 | 20 | 19 | 18 | 19 | |
| Benchmarks (no. days) | ||||||
| Average Receivable Collection Period, Competitors2 | ||||||
| Abbott Laboratories | 60 | 60 | 52 | 55 | 68 | |
| Cigna Group | 23 | 21 | 20 | 19 | 19 | |
| CVS Health Corp. | 36 | 36 | 31 | 31 | 30 | |
| Intuitive Surgical Inc. | 54 | 58 | 55 | 50 | 54 | |
| Medtronic PLC | 69 | 70 | 64 | 66 | 59 | |
| UnitedHealth Group Inc. | 21 | 21 | 20 | 18 | 18 | |
| Average Receivable Collection Period, Sector | ||||||
| Health Care Equipment & Services | 29 | 29 | 26 | 26 | 26 | |
| Average Receivable Collection Period, Industry | ||||||
| Health Care | 41 | 43 | 39 | 40 | 40 | |
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
Average receivable collection period = 365 ÷ Receivables turnover
= 365 ÷ 18.00 = 20
2 Click competitor name to see calculations.
| Short-term activity ratio | Description | The company |
|---|---|---|
| Average receivable collection period | An activity ratio equal to the number of days in the period divided by receivables turnover. |
Average Payables Payment Period
Elevance Health Inc., average payables payment period calculation, comparison to benchmarks
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data | ||||||
| Payables turnover | 8.10 | 7.72 | 7.47 | 7.59 | 7.75 | |
| Short-term Activity Ratio (no. days) | ||||||
| Average payables payment period1 | 45 | 47 | 49 | 48 | 47 | |
| Benchmarks (no. days) | ||||||
| Average Payables Payment Period, Competitors2 | ||||||
| Abbott Laboratories | 82 | 87 | 88 | 87 | 96 | |
| Cigna Group | 57 | 54 | 50 | 48 | 47 | |
| CVS Health Corp. | 18 | 18 | 20 | 19 | 19 | |
| Intuitive Surgical Inc. | 26 | 29 | 26 | 25 | 20 | |
| Medtronic PLC | 78 | 91 | 82 | 73 | 77 | |
| UnitedHealth Group Inc. | 47 | 49 | 50 | 48 | 50 | |
| Average Payables Payment Period, Sector | ||||||
| Health Care Equipment & Services | 40 | 40 | 41 | 39 | 39 | |
| Average Payables Payment Period, Industry | ||||||
| Health Care | 47 | 47 | 49 | 48 | 49 | |
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
Average payables payment period = 365 ÷ Payables turnover
= 365 ÷ 8.10 = 45
2 Click competitor name to see calculations.
| Short-term activity ratio | Description | The company |
|---|---|---|
| Average payables payment period | An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period. | Elevance Health Inc. number of days of payables outstanding decreased from 2022 to 2023 and from 2023 to 2024. |