Enterprise Value (EV)
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Elevance Health Inc. pages available for free this week:
- Statement of Comprehensive Income
- Balance Sheet: Assets
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Common Stock Valuation Ratios
- Enterprise Value to EBITDA (EV/EBITDA)
- Capital Asset Pricing Model (CAPM)
- Dividend Discount Model (DDM)
- Total Asset Turnover since 2005
- Price to Book Value (P/BV) since 2005
- Analysis of Debt
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Current Enterprise Value (EV)
Elevance Health Inc., current enterprise value calculation
| Current share price (P) | |
| No. shares of common stock outstanding | |
| US$ in millions | |
| Common equity (market value)1 | |
| Add: Preferred stock, without par value; shares issued and outstanding: none (per books) | |
| Add: Noncontrolling interests (per books) | |
| Total equity | |
| Add: Short-term borrowings (per books) | |
| Add: Current portion of long-term debt (per books) | |
| Add: Long-term debt, less current portion (per books) | |
| Total equity and debt | |
| Less: Cash and cash equivalents | |
| Less: Fixed maturity securities | |
| Less: Equity securities | |
| Enterprise value (EV) | |
Based on: 10-K (reporting date: 2024-12-31).
1 Common equity (market value) = Share price × No. shares of common stock outstanding
= ×
Historical Enterprise Value (EV)
Elevance Health Inc., EV calculation
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 Data adjusted for splits and stock dividends.
2 Closing price as at the filing date of Elevance Health Inc. Annual Report.
3 2024 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= ×
The financial data over the five-year period shows notable fluctuations in the equity and valuation metrics of the company.
- Common Equity (Market Value) and Total Equity
- Both common equity (market value) and total equity displayed a consistent upward trend from 2020 through 2023, rising from approximately $72.6 billion in 2020 to about $118.5 billion in 2023. This represents a strong growth trajectory in shareholder equity over four years. However, in 2024, a significant decline is observed, with common equity dropping to around $88.8 billion and total equity to just under $89 billion. This indicates a considerable reduction in equity value after a period of steady growth.
- Total Equity and Debt
- The combined total of equity and debt expanded steadily from $92.6 billion in 2020 to $143.7 billion in 2023, reflecting an increasing scale of the company’s capital structure. Nevertheless, similar to the equity figures, there was a marked decrease in 2024 to about $120.1 billion, suggesting a contraction in the company’s overall capital base or liabilities.
- Enterprise Value (EV)
- Enterprise value mirrored the equity trends, starting at approximately $61.9 billion in 2020 and growing to $107.4 billion by the end of 2023. This growth signifies enhanced valuation from an operational and market perspective. In 2024, EV fell sharply to roughly $85.4 billion, indicating a reassessment of the company’s market value and enterprise worth.
Overall, the data illustrates a period of sustained growth in equity and valuation metrics from 2020 through 2023, followed by a pronounced decline in 2024. This pattern suggests that while the company experienced expansion and increased investor confidence up to 2023, it faced challenges or market conditions in 2024 that significantly reduced its equity value and enterprise valuation.