Elevance Health, Inc.

Health Care
Medical Specialities
www.elevancehealth.com

Earnings Score
Moat Score
Safety Score
Final Score

Market Cap $91.89B
PE 14
Debt $26.79B
Cash $7.87B
EV $110.81B
FCF $871.00M

Earnings

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Sales & Net Margins

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Earnings	$6.41B
EBIT	$8.58B
ROE	15%
ROA	7%
FCF	$871.00M
Equity	$43.88B
Growth Stability	100%
PE	14.33
PEG	1.95
PB	2.09
P/FCF	105.5
P/S	0.53
Price/Cash	0.09
Debt/Equity	0.61
Debt/FCF	30.76
Net Margins	4%
Gross Margins	89%
Op. Margins	5%
Earnings CAGR	13%
Sales Growth YoY	5%
Sales Growth QoQ	3%
Sales CAGR	11%
FCF CAGR	7%
Equity CAGR	7%
Earnings Stability	0.86
Earnings Growth YoY	-21%
Earnings Growth QoQ	-56%
Earnings CAGR 5Y	7%

Sales CAGR 5Y	12%
FCF CAGR 5Y	-23%
Equity CAGR 5Y	6%
Earnings CAGR 3Y	9%
Sales CAGR 3Y	9%
FCF CAGR 3Y	-53%
Equity CAGR 3Y	7%
Market Cap	$91.89B
Revenue	$174.22B
Dividend Yield	2%
Payout Ratio	23%
Assets	$116.53B
Total Debt	$26.79B
Cash	$7.87B
Shares Outstanding	231.9M
EV	110.81B
Earnings Score	93%
Moat Score	84%
Safety Score	73%
Final Score	83%
Working Capital	20.81B
Current Ratio	1.5
Gross Profit	$155.64B
Shares Growth 3y	-2%
Equity Growth QoQ	4%
Equity Growth YoY	14%

Assets & ROA

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Stockholders Equity & ROE

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Elevance Health (formerly known as Anthem) remains one of the leading health insurers in the U.S., providing medical benefits to roughly 45 million medical members. The company offers employer, individual, and government-sponsored coverage plans. Elevance differs from its peers in its unique position as the largest single provider of Blue Cross Blue Shield branded coverage, operating as the licensee for the Blue Cross Blue Shield Association in 14 states. Through acquisitions, such as the Amerigroup deal in 2012 and MMM in 2021, Elevance's reach expands beyond those states through government-sponsored programs such as Medicaid, too.

SEC Filings

Direct access to Elevance Health, Inc. (ELV) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2024
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2023
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2022
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31

Sector Comparison

How does Elevance Health, Inc. compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Elevance Health, Inc. compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR 13%

Stability 86%

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Elevance Health, Inc. Discounted Cash Flow

Fully customizable DCF calculator online for Elevance Health, Inc..

Years

Calculation mode

= $14B

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	$871M	$932M	$997M	$1.1B	$1.1B	$1.2B	$1.3B	$1.4B	$1.5B	$1.6B	$1.7B	$17B
DCF		$847M	$824M	$802M	$780M	$758M	$738M	$717M	$698M	$679M	$660M	$6.6B
Value	$14B

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Net Margins	3%	3%	3%	4%	4%	5%	4%	4%	4%	3%	4%
ROA	-	9%	8%	7%	8%	9%	8%	9%	8%	8%	7%
ROE	-	11%	10%	14%	13%	15%	14%	17%	17%	15%	15%

Bad Net Margins (4.22%)

Net Margins are too low to guarantee profitability in case of higher costs or higher interest rates. Furthermore lower margins cause higher earnings’ volatility.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Debt over FCF	-	4.56	6.19	5.89	7.34	4.21	2.14	3.35	3.5	3.92	30.76
Debt over Equity	0.63	0.69	0.65	0.75	0.67	0.66	0.62	0.67	0.7	0.67	0.61
Growth Stability	-	-	-	100%	100%	100%	100%	100%	100%	100%	100%

Bad Debt/FCF ratio (30.76)

Net Margins are too low to guarantee profitability in case of higher costs or higher interest rates. Furthermore lower margins cause higher earnings’ volatility.

Good Debt/Equity ratio (0.61)

The company is not overleveraged and has a good balance between equity and debt.

Good Graham’s Stability (100%)

The company has a good stability in its earnings, which is a sign of a good competitive advantage.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	CAGR 5Y
Revenue YoY growth	-	7%	7%	6%	2%	13%	17%	14%	13%	9%	12%
Earnings YoY growth	-	-0%	-4%	56%	-2%	28%	-5%	33%	-1%	-1%	7%
Equity YoY growth	-	-5%	9%	6%	8%	11%	5%	9%	1%	8%	6%
FCF YoY growth	-	31%	-25%	29%	-23%	90%	94%	-25%	-0%	-7%	-23%