Elevance Health Inc., current enterprise value calculation

Current share price (P)	$394.20
No. shares of common stock outstanding	231,922,815
US$ in millions
Common equity (market value)¹	91,424)
Add: Preferred stock, without par value; shares issued and outstanding: none (per books)	—)
Add: Noncontrolling interests (per books)	99)
Total equity	91,523)
Add: Short-term borrowings (per books)	225)
Add: Current portion of long-term debt (per books)	1,649)
Add: Long-term debt, less current portion (per books)	23,246)
Total equity and debt	116,643)
Less: Cash and cash equivalents	6,526)
Less: Fixed maturity securities	29,614)
Less: Equity securities	229)
Enterprise value (EV)	80,274)

¹ Common equity (market value) = Share price × No. shares of common stock outstanding
= 394.20 × 231,922,815

Elevance Health Inc., EV calculation

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Share price^1, 2	$509.38	$487.13	$458.58	$296.33	$304.06
No. shares of common stock outstanding¹	232,668,735	237,457,776	241,304,369	244,905,689	252,329,919
US$ in millions
Common equity (market value)³	118,517)	115,673)	110,657)	72,573)	76,723)
Add: Preferred stock, without par value; shares issued and outstanding: none (book value)	—)	—)	—)	—)	—)
Add: Noncontrolling interests (book value)	99)	87)	68)	—)	—)
Total equity	118,616)	115,760)	110,725)	72,573)	76,723)
Add: Short-term borrowings (book value)	225)	265)	275)	—)	700)
Add: Current portion of long-term debt (book value)	1,649)	1,500)	1,599)	700)	1,598)
Add: Long-term debt, less current portion (book value)	23,246)	22,349)	21,157)	19,335)	17,787)
Total equity and debt	143,736)	139,874)	133,756)	92,608)	96,808)
Less: Cash and cash equivalents	6,526)	7,387)	4,880)	5,741)	4,937)
Less: Fixed maturity securities	29,614)	25,952)	26,267)	23,433)	19,676)
Less: Equity securities	229)	953)	1,881)	1,559)	1,009)
Enterprise value (EV)	107,367)	105,582)	100,728)	61,875)	71,186)

¹ Data adjusted for splits and stock dividends.

² Closing price as at the filing date of Elevance Health Inc. Annual Report.

³ 2023 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 509.38 × 232,668,735

Download chart

Item	Description	The company
EV	Enterprise value is total company value (the market value of common equity, debt, and preferred equity) minus the value of cash and short-term investments.	Elevance Health Inc. EV increased from 2021 to 2022 and from 2022 to 2023.

Elevance Health Inc. (NYSE:ELV)

Enterprise Value (EV)