Price to Book Value (P/BV)
since 2005
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Elevance Health Inc. pages available for free this week:
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Profitability Ratios
- Analysis of Liquidity Ratios
- Analysis of Solvency Ratios
- Analysis of Short-term (Operating) Activity Ratios
- Analysis of Long-term (Investment) Activity Ratios
- Selected Financial Data since 2005
- Price to Earnings (P/E) since 2005
- Analysis of Revenues
- Analysis of Debt
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Calculation
Elevance Health Inc., P/BV, long-term trends, calculation
| P/BV | = | Share price1, 2, 3 | ÷ | Book value per share1 (BVPS) | BVPS1 | = | Shareholders’ equity1 (in millions) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Feb 20, 2025 | = | ÷ | = | ÷ | |||||||
| Feb 21, 2024 | = | ÷ | = | ÷ | |||||||
| Feb 15, 2023 | = | ÷ | = | ÷ | |||||||
| Feb 16, 2022 | = | ÷ | = | ÷ | |||||||
| Feb 18, 2021 | = | ÷ | = | ÷ | |||||||
| Feb 19, 2020 | = | ÷ | = | ÷ | |||||||
| Feb 20, 2019 | = | ÷ | = | ÷ | |||||||
| Feb 21, 2018 | = | ÷ | = | ÷ | |||||||
| Feb 22, 2017 | = | ÷ | = | ÷ | |||||||
| Feb 19, 2016 | = | ÷ | = | ÷ | |||||||
| Feb 24, 2015 | = | ÷ | = | ÷ | |||||||
| Feb 20, 2014 | = | ÷ | = | ÷ | |||||||
| Feb 22, 2013 | = | ÷ | = | ÷ | |||||||
| Feb 22, 2012 | = | ÷ | = | ÷ | |||||||
| Feb 17, 2011 | = | ÷ | = | ÷ | |||||||
| Feb 18, 2010 | = | ÷ | = | ÷ | |||||||
| Feb 19, 2009 | = | ÷ | = | ÷ | |||||||
| Feb 21, 2008 | = | ÷ | = | ÷ | |||||||
| Feb 26, 2007 | = | ÷ | = | ÷ | |||||||
| Feb 23, 2006 | = | ÷ | = | ÷ |
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), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
1 US$
2 Data adjusted for splits and stock dividends.
3 Closing price as at the filing date of Elevance Health Inc. Annual Report.
The analysis of the financial data reveals several notable trends in share price, book value per share (BVPS), and the price-to-book value (P/BV) ratio over the periods from 2006 through 2025.
- Share Price Trends
- The share price demonstrated fluctuations with periods of both decline and sharp increases. Initially, the price decreased from $77.48 in 2006 to a low of $41.26 in 2009, coinciding with the global financial crisis period. Subsequently, an upward trend is visible, with the share price reaching $147.28 in 2015 and peaking at $312.95 in 2019. After a slight dip to $296.33 in 2021, the share price surged to an anomalous figure of $237,458,000 in 2023, which appears to be a data error given its extraordinary scale. Excluding this outlier, the price remains high, finishing at $390.50 in 2025, indicating substantial growth over the long term.
- Book Value per Share (BVPS) Trends
- The BVPS exhibits a consistent and steady increase throughout the entire timeline. Starting at $38.04 in 2006, it grows almost every year, culminating at $181.72 by 2025. This progression reflects an ongoing accumulation of equity value per share, suggesting a strengthening financial position and sustained profitability or retained earnings growth.
- Price-to-Book Value (P/BV) Ratio Trends
- The P/BV ratio shows volatility consistent with the variation in share price relative to book value. Initially around 2.0 in 2006 and 2007, it dips below 1.0 during 2008 to 2013, which could indicate market undervaluation or cautious investor sentiment during and after the financial crisis. From 2014 onward, the P/BV climbs, peaking at 3.07 in 2022. However, the recorded value of 1,553,040.7 in 2023 is clearly erroneous due to the corresponding share price anomaly. Excluding this, the P/BV ratio remains elevated above 2.0 through to 2025, suggesting strong market confidence and possibly premium valuation relative to book value in recent years.
Overall, the data suggests that while the company faced challenges around the 2008-2009 period, it demonstrated robust recovery and growth in both share price and equity value per share over the long term. The P/BV ratio's fluctuations align with market conditions, indicating periods of undervaluation followed by sustained market confidence. Notwithstanding the anomalous data entries in 2023, the financial trends underscore positive performance and investor optimism as of the most recent years.
Comparison to Competitors
Elevance Health Inc., P/BV, long-term trends, comparison to competitors
| Elevance Health Inc. | Abbott Laboratories | CVS Health Corp. | Intuitive Surgical Inc. | Medtronic PLC | UnitedHealth Group Inc. | |
|---|---|---|---|---|---|---|
| Feb 20, 2025 | ||||||
| Feb 21, 2024 | ||||||
| Feb 15, 2023 | ||||||
| Feb 16, 2022 | ||||||
| Feb 18, 2021 | ||||||
| Feb 19, 2020 | ||||||
| Feb 20, 2019 | ||||||
| Feb 21, 2018 | ||||||
| Feb 22, 2017 | ||||||
| Feb 19, 2016 | ||||||
| Feb 24, 2015 | ||||||
| Feb 20, 2014 | ||||||
| Feb 22, 2013 | ||||||
| Feb 22, 2012 | ||||||
| Feb 17, 2011 | ||||||
| Feb 18, 2010 | ||||||
| Feb 19, 2009 | ||||||
| Feb 21, 2008 | ||||||
| Feb 26, 2007 | ||||||
| Feb 23, 2006 |
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), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Sector (Health Care Equipment & Services)
Elevance Health Inc., P/BV, long-term trends, comparison to sector (health care equipment & services)
| Elevance Health Inc. | Health Care Equipment & Services | |
|---|---|---|
| Feb 20, 2025 | ||
| Feb 21, 2024 | ||
| Feb 15, 2023 | ||
| Feb 16, 2022 | ||
| Feb 18, 2021 | ||
| Feb 19, 2020 | ||
| Feb 20, 2019 | ||
| Feb 21, 2018 | ||
| Feb 22, 2017 | ||
| Feb 19, 2016 | ||
| Feb 24, 2015 | ||
| Feb 20, 2014 | ||
| Feb 22, 2013 | ||
| Feb 22, 2012 | ||
| Feb 17, 2011 | ||
| Feb 18, 2010 | ||
| Feb 19, 2009 | ||
| Feb 21, 2008 | ||
| Feb 26, 2007 | ||
| Feb 23, 2006 |
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), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Industry (Health Care)
Elevance Health Inc., P/BV, long-term trends, comparison to industry (health care)
| Elevance Health Inc. | Health Care | |
|---|---|---|
| Feb 20, 2025 | ||
| Feb 21, 2024 | ||
| Feb 15, 2023 | ||
| Feb 16, 2022 | ||
| Feb 18, 2021 | ||
| Feb 19, 2020 | ||
| Feb 20, 2019 | ||
| Feb 21, 2018 | ||
| Feb 22, 2017 | ||
| Feb 19, 2016 | ||
| Feb 24, 2015 | ||
| Feb 20, 2014 | ||
| Feb 22, 2013 | ||
| Feb 22, 2012 | ||
| Feb 17, 2011 | ||
| Feb 18, 2010 | ||
| Feb 19, 2009 | ||
| Feb 21, 2008 | ||
| Feb 26, 2007 | ||
| Feb 23, 2006 |
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), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).