Price to Sales (P/S)
since 2005
Calculation
Elevance Health Inc., P/S, long-term trends, calculation
| P/S | = | Share price1, 2, 3 | ÷ | Sales per share1 | Sales per share1 | = | Operating revenue1 (in millions) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Feb 6, 2026 | 0.38 | = | 338.98 | ÷ | 895.24 | 895.24 | = | 197,584 | ÷ | 220,704,667 | |
| Feb 20, 2025 | 0.51 | = | 390.50 | ÷ | 770.63 | 770.63 | = | 175,204 | ÷ | 227,351,871 | |
| Feb 21, 2024 | 0.70 | = | 509.38 | ÷ | 731.55 | 731.55 | = | 170,209 | ÷ | 232,668,735 | |
| Feb 15, 2023 | 362,239.81 | = | 237,458,000.00 | ÷ | 655.53 | 655.53 | = | 155,660 | ÷ | 237,457,776 | |
| Feb 16, 2022 | 0.81 | = | 458.58 | ÷ | 567.51 | 567.51 | = | 136,943 | ÷ | 241,304,369 | |
| Feb 18, 2021 | 0.60 | = | 296.33 | ÷ | 493.28 | 493.28 | = | 120,808 | ÷ | 244,905,689 | |
| Feb 19, 2020 | 0.74 | = | 304.06 | ÷ | 408.75 | 408.75 | = | 103,141 | ÷ | 252,329,919 | |
| Feb 20, 2019 | 0.88 | = | 312.95 | ÷ | 355.40 | 355.40 | = | 91,341 | ÷ | 257,011,928 | |
| Feb 21, 2018 | 0.67 | = | 232.03 | ÷ | 348.27 | 348.27 | = | 89,061 | ÷ | 255,721,900 | |
| Feb 22, 2017 | 0.51 | = | 163.27 | ÷ | 318.46 | 318.46 | = | 84,194 | ÷ | 264,378,577 | |
| Feb 19, 2016 | 0.42 | = | 127.23 | ÷ | 300.00 | 300.00 | = | 78,405 | ÷ | 261,351,781 | |
| Feb 24, 2015 | 0.54 | = | 147.28 | ÷ | 273.71 | 273.71 | = | 73,022 | ÷ | 266,787,463 | |
| Feb 20, 2014 | 0.35 | = | 87.71 | ÷ | 248.50 | 248.50 | = | 70,191 | ÷ | 282,459,121 | |
| Feb 22, 2013 | 0.31 | = | 61.92 | ÷ | 199.74 | 199.74 | = | 60,729 | ÷ | 304,035,158 | |
| Feb 22, 2012 | 0.37 | = | 66.10 | ÷ | 178.84 | 178.84 | = | 59,865 | ÷ | 334,748,569 | |
| Feb 17, 2011 | 0.44 | = | 67.21 | ÷ | 154.04 | 154.04 | = | 57,844 | ÷ | 375,511,311 | |
| Feb 18, 2010 | 0.43 | = | 59.11 | ÷ | 137.02 | 137.02 | = | 60,829 | ÷ | 443,930,532 | |
| Feb 19, 2009 | 0.33 | = | 41.26 | ÷ | 123.56 | 123.56 | = | 61,579 | ÷ | 498,388,028 | |
| Feb 21, 2008 | 0.67 | = | 74.23 | ÷ | 110.94 | 110.94 | = | 60,122 | ÷ | 541,939,848 | |
| Feb 26, 2007 | 0.89 | = | 81.13 | ÷ | 91.56 | 91.56 | = | 56,075 | ÷ | 612,428,063 | |
| Feb 23, 2006 | 1.14 | = | 77.48 | ÷ | 67.75 | 67.75 | = | 44,513 | ÷ | 657,005,900 |
Based on: 10-K (reporting date: 2025-12-31), 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 price-to-sales (P/S) ratio for the period between 2006 and 2026 exhibits considerable fluctuation. Initially, the ratio decreased significantly before stabilizing and then experiencing another period of volatility. A general observation is that the P/S ratio remained below 1.0 for a substantial portion of the analyzed timeframe, suggesting that the market valuation, relative to sales, was often less than one dollar for each dollar of sales.
- Initial Decline (2006-2009)
- From 2006 to 2009, the P/S ratio demonstrated a pronounced downward trend, decreasing from 1.14 to a low of 0.33. This decline coincided with a period of economic uncertainty, potentially influencing investor sentiment and valuation metrics. The share price experienced a substantial decrease during this period, while sales per share generally increased.
- Stabilization and Moderate Increase (2010-2013)
- Between 2010 and 2013, the P/S ratio showed a period of relative stabilization, fluctuating between 0.31 and 0.54. While some variation existed, the ratio did not exhibit the steep declines observed in the preceding years. Sales per share continued to increase steadily during this timeframe.
- Volatility and Peak (2014-2018)
- From 2014 to 2018, the P/S ratio experienced increased volatility, rising to a peak of 0.88 in 2019. This period saw both increases and decreases in the ratio, suggesting changing market perceptions of the company’s value relative to its sales. Share price and sales per share both increased during this period.
- Recent Fluctuations (2019-2026)
- The period from 2019 to 2026 is characterized by significant fluctuations in the P/S ratio. A notable spike to 362,239.81 in 2023 is present, which appears to be an outlier and likely an error. Excluding this value, the ratio decreased from 0.74 in 2019 to 0.38 in 2026. Sales per share continued to increase throughout this period, while the share price experienced both increases and decreases.
Overall, the P/S ratio demonstrates a lack of consistent trend. The ratio’s sensitivity to market conditions and company-specific factors is apparent. The outlier value in 2023 requires further investigation to determine its validity and potential impact on the analysis.
AI Ask an analyst for more
Comparison to Competitors
Elevance Health Inc., P/S, long-term trends, comparison to competitors
| Elevance Health Inc. | Abbott Laboratories | Intuitive Surgical Inc. | Medtronic PLC | UnitedHealth Group Inc. | |
|---|---|---|---|---|---|
| Feb 6, 2026 | 0.38 | 4.40 | 16.90 | 3.30 | 0.60 |
| Feb 20, 2025 | 0.51 | 5.58 | 24.42 | 3.18 | 1.08 |
| Feb 21, 2024 | 0.70 | 4.93 | 18.71 | 3.72 | 1.25 |
| Feb 15, 2023 | 362,239.81 | 4.25 | 13.81 | 3.72 | 1.40 |
| Feb 16, 2022 | 0.81 | 4.78 | 17.89 | 5.57 | 1.58 |
| Feb 18, 2021 | 0.60 | 6.30 | 21.29 | 4.36 | 1.24 |
| Feb 19, 2020 | 0.74 | 4.83 | 15.01 | 4.36 | 1.18 |
| Feb 20, 2019 | 0.88 | 4.37 | 16.06 | 3.92 | 1.12 |
| Feb 21, 2018 | 0.67 | 3.84 | 14.97 | 4.06 | 1.10 |
| Feb 22, 2017 | 0.51 | 3.70 | 10.11 | 4.07 | 0.83 |
| Feb 19, 2016 | 0.42 | 2.78 | 8.46 | 5.36 | 0.68 |
| Feb 24, 2015 | 0.54 | 3.53 | 8.80 | 3.74 | 0.80 |
| Feb 20, 2014 | 0.35 | 2.74 | 6.76 | 3.13 | 0.57 |
| Feb 22, 2013 | 0.31 | 1.38 | 10.56 | 2.36 | 0.53 |
| Feb 22, 2012 | 0.37 | 2.27 | 11.00 | 2.60 | 0.55 |
| Feb 17, 2011 | 0.44 | 2.06 | 9.15 | 2.48 | 0.50 |
| Feb 18, 2010 | 0.43 | 2.74 | 12.01 | 2.54 | 0.44 |
| Feb 19, 2009 | 0.33 | 2.83 | 5.14 | 4.30 | 0.43 |
| Feb 21, 2008 | 0.67 | 3.31 | 19.21 | 4.74 | 0.81 |
| Feb 26, 2007 | 0.89 | 3.68 | 11.23 | 4.81 | 1.03 |
| Feb 23, 2006 | 1.14 | 3.02 | 15.19 | 6.30 | 1.78 |
Based on: 10-K (reporting date: 2025-12-31), 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/S, long-term trends, comparison to sector (health care equipment & services)
| Elevance Health Inc. | Health Care Equipment & Services | |
|---|---|---|
| Feb 6, 2026 | 0.38 | 1.12 |
| Feb 20, 2025 | 0.51 | 1.62 |
| Feb 21, 2024 | 0.70 | 1.66 |
| Feb 15, 2023 | 362,239.81 | 100,807.66 |
| Feb 16, 2022 | 0.81 | 2.07 |
| Feb 18, 2021 | 0.60 | 1.86 |
| Feb 19, 2020 | 0.74 | 1.74 |
| Feb 20, 2019 | 0.88 | 1.69 |
| Feb 21, 2018 | 0.67 | 1.58 |
| Feb 22, 2017 | 0.51 | 1.30 |
| Feb 19, 2016 | 0.42 | 1.17 |
| Feb 24, 2015 | 0.54 | 1.23 |
| Feb 20, 2014 | 0.35 | 0.95 |
| Feb 22, 2013 | 0.31 | 0.85 |
| Feb 22, 2012 | 0.37 | 1.04 |
| Feb 17, 2011 | 0.44 | 0.96 |
| Feb 18, 2010 | 0.43 | 1.02 |
| Feb 19, 2009 | 0.33 | 1.08 |
| Feb 21, 2008 | 0.67 | 1.48 |
| Feb 26, 2007 | 0.89 | 1.64 |
| Feb 23, 2006 | 1.14 | 2.17 |
Based on: 10-K (reporting date: 2025-12-31), 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/S, long-term trends, comparison to industry (health care)
| Elevance Health Inc. | Health Care | |
|---|---|---|
| Feb 6, 2026 | 0.38 | 3.34 |
| Feb 20, 2025 | 0.51 | 3.36 |
| Feb 21, 2024 | 0.70 | 3.52 |
| Feb 15, 2023 | 362,239.81 | 51,413.66 |
| Feb 16, 2022 | 0.81 | 3.28 |
| Feb 18, 2021 | 0.60 | 3.31 |
| Feb 19, 2020 | 0.74 | 3.21 |
| Feb 20, 2019 | 0.88 | 3.07 |
| Feb 21, 2018 | 0.67 | 3.06 |
| Feb 22, 2017 | 0.51 | 2.80 |
| Feb 19, 2016 | 0.42 | 2.72 |
| Feb 24, 2015 | 0.54 | 3.08 |
| Feb 20, 2014 | 0.35 | 2.81 |
| Feb 22, 2013 | 0.31 | 2.20 |
| Feb 22, 2012 | 0.37 | 1.90 |
| Feb 17, 2011 | 0.44 | 1.80 |
| Feb 18, 2010 | 0.43 | 2.08 |
| Feb 19, 2009 | 0.33 | 1.70 |
| Feb 21, 2008 | 0.67 | 2.42 |
| Feb 26, 2007 | 0.89 | 2.85 |
| Feb 23, 2006 | 1.14 | 3.17 |
Based on: 10-K (reporting date: 2025-12-31), 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).