Stock Analysis on Net

Elevance Health Inc. (NYSE:ELV)

Common-Size Income Statement
Quarterly Data

Elevance Health Inc., common-size consolidated income statement (quarterly data)

Microsoft Excel
3 months ended: Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Premiums 82.77 83.00 84.35 85.61 84.82 85.10 85.95 86.54 85.43 85.50 85.74 86.22 85.97 86.11 86.00 86.65 88.59 89.98 93.34 93.66
Product revenue 12.71 12.19 11.20 9.60 10.43 10.02 9.27 8.71 9.79 9.43 9.14 8.53 9.19 8.48 8.72 7.96 5.53 4.22 0.57 0.00
Service fees 4.53 4.81 4.45 4.79 4.75 4.87 4.78 4.75 4.79 5.06 5.12 5.25 4.84 5.41 5.29 5.39 5.88 5.80 6.08 6.34
Operating revenue 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Benefit expense -73.81 -72.05 -72.86 -73.48 -75.86 -74.21 -74.78 -74.47 -76.46 -74.95 -74.41 -73.83 -76.39 -74.79 -66.99 -72.97 -78.81 -78.48 -80.90 -79.06
Cost of products sold -11.39 -10.94 -9.98 -8.31 -9.19 -8.67 -7.98 -7.61 -8.52 -8.15 -7.85 -7.21 -8.00 -7.25 -7.63 -6.74 -4.23 -2.82 -0.39 0.00
Cost of operating revenue -85.20% -82.99% -82.83% -81.79% -85.05% -82.88% -82.76% -82.08% -84.98% -83.11% -82.27% -81.04% -84.39% -82.04% -74.62% -79.71% -83.05% -81.30% -81.29% -79.06%
Gross profit 14.80% 17.01% 17.17% 18.21% 14.95% 17.12% 17.24% 17.92% 15.02% 16.89% 17.73% 18.96% 15.61% 17.96% 25.38% 20.29% 16.95% 18.70% 18.71% 20.94%
Operating expense -11.78 -12.88 -11.11 -11.46 -11.50 -11.39 -11.09 -11.46 -11.72 -11.10 -11.48 -12.23 -13.69 -17.31 -13.87 -12.84 -12.91 -12.93 -13.02 -12.98
Amortization of other intangible assets -0.51 -0.50 -0.51 -0.56 -0.62 -0.57 -0.43 -0.34 -0.37 -0.38 -0.27 -0.25 -0.29 -0.30 -0.32 -0.28 -0.30 -0.32 -0.34 -0.36
Operating income 2.51% 3.63% 5.55% 6.20% 2.83% 5.16% 5.72% 6.12% 2.92% 5.41% 5.98% 6.48% 1.63% 0.35% 11.20% 7.17% 3.74% 5.46% 5.35% 7.60%
Net investment income 1.25 1.16 0.96 0.92 0.94 0.94 0.99 0.95 0.98 0.94 1.20 0.91 0.91 0.91 0.20 0.86 0.99 0.92 1.13 0.86
Net gains (losses) on financial instruments -0.79 -0.29 -0.28 -0.27 -0.28 -0.14 -0.60 -0.40 0.59 -0.17 0.52 -0.01 0.02 0.75 0.10 -0.28 0.03 -0.05 0.02 0.28
Interest expense -0.61 -0.61 -0.60 -0.60 -0.58 -0.54 -0.54 -0.53 -0.56 -0.57 -0.62 -0.60 -0.61 -0.65 -0.69 -0.66 -0.70 -0.70 -0.73 -0.77
Gain (loss) on extinguishment of debt 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -0.04 0.00 -0.02 0.00 -0.01 -0.10 -0.01 0.00 -0.01 0.00 0.00 0.00
Income before income tax expense 2.36% 3.89% 5.63% 6.25% 2.91% 5.42% 5.57% 6.14% 3.89% 5.61% 7.07% 6.78% 1.94% 1.27% 10.79% 7.09% 4.05% 5.63% 5.77% 7.98%
Income tax expense -0.40 -0.83 -1.35 -1.47 -0.49 -1.35 -1.28 -1.40 -0.76 -1.39 -1.66 -1.59 -0.19 -0.54 -2.99 -1.92 -0.60 -1.16 -1.25 -1.62
Net income 1.96% 3.06% 4.28% 4.78% 2.42% 4.07% 4.29% 4.74% 3.12% 4.23% 5.41% 5.19% 1.75% 0.72% 7.80% 5.17% 3.44% 4.47% 4.52% 6.36%
Net (income) loss attributable to noncontrolling interests 0.06 -0.03 -0.01 -0.04 -0.03 0.01 0.01 0.03 0.03 0.02 -0.02 -0.01 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Shareholders’ net income 2.02% 3.03% 4.27% 4.75% 2.39% 4.08% 4.30% 4.76% 3.16% 4.24% 5.39% 5.19% 1.75% 0.72% 7.80% 5.17% 3.44% 4.47% 4.52% 6.36%

Based on: 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

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 Q2 2023 to Q3 2023 and from Q3 2023 to Q4 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 Q2 2023 to Q3 2023 and from Q3 2023 to Q4 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 Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023.