Stock Analysis on Net
Stock Analysis on Net

Elevance Health Inc. (NYSE:ELV)

Common-Size Income Statement

Elevance Health Inc., common-size consolidated income statement

Microsoft Excel
12 months ended: Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Premiums 83.93 85.59 85.71 86.18 91.31
Product revenue 11.43 9.62 9.24 8.60 2.68
Service fees 4.64 4.79 5.05 5.23 6.02
Operating revenue 100.00% 100.00% 100.00% 100.00% 100.00%
Benefit expense -73.05 -74.83 -74.95 -72.88 -79.30
Cost of products sold -10.16 -8.37 -7.96 -7.41 -1.93
Cost of operating revenue -83.21% -83.21% -82.91% -80.29% -81.23%
Gross profit 16.79% 16.79% 17.09% 19.71% 18.77%
Operating expense -11.80 -11.36 -11.62 -14.44 -12.96
Amortization of other intangible assets -0.52 -0.49 -0.32 -0.30 -0.33
Operating income 4.47% 4.94% 5.15% 4.97% 5.49%
Fixed maturity securities 0.81 0.62 0.55 0.60 0.70
Equity securities 0.01 0.03 0.03 0.06 0.10
Cash equivalents 0.18 0.05 0.00 0.02 0.06
Other invested assets 0.09 0.28 0.45 0.08 0.14
Investment income 1.10% 0.98% 1.04% 0.76% 1.00%
Investment expense -0.02 -0.03 -0.03 -0.03 -0.03
Net investment income 1.07% 0.95% 1.01% 0.73% 0.97%
Net gains (losses) on financial instruments -0.41 -0.35 0.23 0.15 0.06
Interest expenses -0.61 -0.55 -0.58 -0.65 -0.72
Loss on extinguishment of debt 0.00 0.00 -0.02 -0.03 0.00
Income before income tax expense 4.53% 4.99% 5.79% 5.16% 5.80%
Income tax expense -1.01 -1.12 -1.34 -1.38 -1.14
Net income 3.52% 3.87% 4.45% 3.78% 4.66%
Net (gain) loss attributable to noncontrolling interests 0.00 0.00 0.01 0.00 0.00
Shareholders’ net income 3.52% 3.87% 4.46% 3.78% 4.66%

Based on: 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), 10-K (reporting date: 2019-12-31).

Income statement item Description The company
Operating income The net result for the period of deducting operating expenses from operating revenues. Elevance Health Inc. operating income as a percentage of operating revenue decreased from 2021 to 2022 and from 2022 to 2023.
Income before income tax expense Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Elevance Health Inc. income before income tax expense as a percentage of operating revenue decreased from 2021 to 2022 and from 2022 to 2023.
Shareholders’ net income The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Elevance Health Inc. shareholders’ net income as a percentage of operating revenue decreased from 2021 to 2022 and from 2022 to 2023.