Express Scripts Holding Co. (NASDAQ:ESRX)

Current Assets

The current assets exhibited a generally upward trend from December 31, 2013, through December 31, 2016, increasing from approximately 8.5 billion US dollars to about 12.36 billion US dollars. This reflects a compound increase indicative of rising liquidity or working capital over this period. However, in 2017, there is a slight decline to approximately 11.96 billion US dollars, suggesting a modest contraction in current assets relative to the prior year.

Adjusted Current Assets

The adjusted current assets closely follow the trend of total current assets with minor deviations. Beginning at around 8.24 billion US dollars in 2013, adjusted current assets increased steadily each year, reaching a peak of approximately 12.44 billion US dollars in 2016. In 2017, similar to the total current assets, there is a slight decrease to about 12.05 billion US dollars. The consistency between current assets and adjusted current assets suggests that adjustments made do not significantly alter the overall liquidity patterns.

Overall Trends and Insights

The data indicates a positive growth trend in both current assets and adjusted current assets through 2016, signaling improved short-term financial health or a strategic buildup of liquid resources. The slight decline in 2017 could imply operational adjustments, asset management changes, or other factors affecting liquidity. Both metrics moving in parallel highlight stability in the adjustments applied.

Total Assets

Over the five-year period from 2013 to 2017, total assets exhibited a relatively stable trend with minor fluctuations. The total assets increased slightly from 53,548,200 thousand US dollars in 2013 to 53,798,900 thousand US dollars in 2014. Subsequently, there was a gradual decrease to 53,243,300 thousand US dollars in 2015 and further to 51,744,900 thousand US dollars in 2016. In 2017, total assets rose again to 54,255,800 thousand US dollars, reaching the highest point within the observed timeframe.

Adjusted Total Assets

Adjusted total assets followed a similar pattern to total assets but with marginally different values. Beginning at 53,616,730 thousand US dollars in 2013, the figure increased to 53,868,009 thousand US dollars in 2014. This was followed by a slight decline over the next two years to 53,597,386 thousand US dollars in 2015 and 52,029,543 thousand US dollars in 2016. By 2017, adjusted total assets rose to 54,557,952 thousand US dollars, surpassing all previous years in the period analyzed.

Overall Trend and Insights

The data indicates a pattern of asset stability with minor contractions in the mid-period years (2015 and 2016), and a recovery or growth phase in 2017. Both total assets and adjusted total assets showed similar directional changes, implying consistent asset management and valuation adjustments across the years. The increase in assets during 2017 may indicate investments or operational expansion efforts, or other financial adjustments leading to an improvement in asset base value.

The financial data indicates the following trends regarding the liabilities of the company over the five-year period analyzed.

Total Liabilities

Total liabilities consistently increased from 31,703,400 thousand US dollars as of December 31, 2013, to 36,130,500 thousand US dollars by December 31, 2017. This represents a steady growth trend with only a slight dip observed in 2016, where total liabilities dropped marginally from the 2015 level before rising again in 2017.

Adjusted Total Liabilities

Adjusted total liabilities also showed a continuous upward trajectory throughout the same period, starting at 26,584,530 thousand US dollars in 2013 and reaching 33,805,052 thousand US dollars in 2017. The increase each year was relatively consistent, with a moderate acceleration in the rate of growth noted after 2014.

Comparative Analysis

Both total liabilities and adjusted total liabilities increased during the period under review, indicating an overall expansion in the company's debt or obligations. Adjusted total liabilities remained lower than total liabilities every year, reflecting adjustments that might exclude certain components of total liabilities. The gap between total liabilities and adjusted total liabilities widened over time, suggesting that the adjustments became more significant or that certain liability items grew at a faster pace than others.

Total Express Scripts stockholders’ equity

The total stockholders’ equity showed a declining trend from 2013 to 2016, decreasing from approximately 21.84 billion US dollars in 2013 to around 16.24 billion US dollars in 2016. This represents a reduction of about 25.6% over this four-year period. However, in 2017, there was a reversal of this trend, with equity increasing to approximately 18.12 billion US dollars, reflecting a partial recovery.

Adjusted total stockholders’ equity

The adjusted total stockholders’ equity followed a similar pattern, declining consistently from 27.03 billion US dollars in 2013 to 19.89 billion US dollars in 2016. This decrease amounts to roughly 26.4%. In 2017, the adjusted equity also rose to 20.75 billion US dollars, indicating an improvement although not reaching earlier levels witnessed in 2013.

Overall observations

Both the total and adjusted stockholders’ equity exhibit a notable downward trend during the initial four years, pointing to a contraction in the company's net equity. The increase observed in 2017 suggests a potential stabilization or recovery phase. The adjusted figures consistently remain higher than the unadjusted total equity, which could imply adjustments for certain non-cash items or other accounting considerations that result in a more favorable equity position. This pattern suggests that while the company faced challenges leading to equity depletion from 2013 to 2016, there were positive developments in 2017 contributing to equity enhancement.

The financial data reveals several noteworthy trends over the five-year period ending December 31, 2017. The total reported debt shows an overall increasing pattern, beginning at $13.95 billion in 2013 and rising to $16.01 billion in 2017. Despite a slight decline from 2013 to 2014, the debt level escalated significantly in subsequent years, indicating growing leverage.

Conversely, the total reported stockholders’ equity decreases markedly from $21.84 billion in 2013 to $16.24 billion in 2016, before recovering somewhat to $18.12 billion in 2017. This downward trend in equity during most of the period suggests possible challenges affecting retained earnings or other equity-related components. The partial rebound in the final year may reflect changes in profitability, stock issuances, or equity adjustments.

As a result of these shifts, total reported capital, representing the sum of debt and equity, declines from $35.78 billion in 2013 to $31.80 billion in 2016, followed by an increase to $34.13 billion in 2017. This pattern indicates overall contraction in the company’s capital base mid-period with a modest recovery later on.

When considering adjusted figures, a similar but amplified trend emerges. Adjusted total debt increases steadily from $14.27 billion to $16.25 billion over the five years, reinforcing the conclusion of rising financial leverage. Adjusted total stockholders’ equity decreases more sharply from $27.03 billion in 2013 to $19.89 billion in 2016 and increases slightly to $20.75 billion in 2017, echoing the pattern observed in reported equity but with larger magnitude.

Consequently, adjusted total capital diminishes from $41.30 billion in 2013 to $35.70 billion in 2016, then grows to $37.00 billion in 2017. This reflects an overall contraction in the adjusted capital structure, with the declining equity component outweighing rising debt for much of the period and a partial recovery in the final year.

In summary, the company experienced rising debt levels coupled with generally declining equity during the period under review. This resulted in a contraction in both reported and adjusted total capital until 2016, with a moderate rebound observed in 2017. These trends may have implications for the company’s financial leverage, risk profile, and capital management strategies.

The data reveals a consistent upward trend in net income attributable to the company over the five-year period from 2013 to 2017. Specifically, net income increased from approximately 1.84 billion US dollars in 2013 to 4.52 billion US dollars in 2017, representing a significant overall growth. The growth rate appears to accelerate, especially from 2015 to 2017, indicating improving profitability and possibly operational efficiencies or increasing revenue during these years.

Adjusted net income also demonstrates a general increase during the period but with some variability. It rose from about 1.42 billion US dollars in 2013 to a peak of nearly 2.92 billion US dollars in 2016, followed by a slight decline to approximately 2.88 billion US dollars in 2017. This pattern suggests that while adjusted net income largely followed the positive trend of net income, it experienced a minor setback in the last reported year, which may indicate some non-recurring items or adjustments impacting profitability differently than the reported net income.

Net Income Trends

Consistent increase each year, with particularly strong growth from 2015 onwards.

Adjusted Net Income Trends

General upward trajectory with a peak in 2016, followed by a slight decrease in 2017.

Insights

The divergence between net income and adjusted net income in 2017 may warrant further investigation to understand the nature of the adjustments and their impact on reported profitability.