Price to FCFE (P/FCFE)
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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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Free Cash Flow to Equity (FCFE)
Elevance Health Inc., FCFE calculation
US$ in millions
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).
The analysis of the provided financial data for the company over the reported periods identifies notable trends and fluctuations in cash flows generated from operating activities and free cash flow to equity (FCFE).
- Net Cash Provided by Operating Activities
-
This indicator shows a decreasing trend from 10,688 million US dollars in 2020 to 5,808 million US dollars in 2024. The value dropped significantly in 2021 to 8,364 million US dollars and stabilized somewhat in the following two years with 8,399 million and 8,061 million US dollars respectively, before experiencing a further notable decline in 2024. This trend suggests a reduction in cash inflows from the core business operations over the five-year period.
- Free Cash Flow to Equity (FCFE)
-
FCFE values exhibit more variability in comparison, beginning at 9,369 million US dollars in 2020, increasing to a peak of 9,996 million US dollars in 2021. It then declined over the next two years to 8,109 million and 7,390 million US dollars in 2022 and 2023 respectively. However, the figure rebounded sharply in 2024 to 10,752 million US dollars, exceeding the initial and previous years' levels. This suggests that the company’s ability to generate cash available to equity shareholders experienced an overall positive outcome by the end of the period, despite intermediate fluctuations.
In summary, while operating cash flows show a consistent downward trajectory, FCFE demonstrates resilience and recuperation by the end of the period. This divergence could imply improvements in financial management, investment strategy, or financing activities that positively influenced cash flow available to equity holders even as operational cash generation declined.
Price to FCFE Ratio, Current
Elevance Health Inc., current P/FCFE calculation, comparison to benchmarks
| No. shares of common stock outstanding | |
| Selected Financial Data (US$) | |
| Free cash flow to equity (FCFE) (in millions) | |
| FCFE per share | |
| Current share price (P) | |
| Valuation Ratio | |
| P/FCFE | |
| Benchmarks | |
| P/FCFE, Competitors1 | |
| Abbott Laboratories | |
| CVS Health Corp. | |
| Intuitive Surgical Inc. | |
| Medtronic PLC | |
| UnitedHealth Group Inc. | |
| P/FCFE, Sector | |
| Health Care Equipment & Services | |
| P/FCFE, Industry | |
| Health Care | |
Based on: 10-K (reporting date: 2024-12-31).
1 Click competitor name to see calculations.
If the company P/FCFE is lower then the P/FCFE of benchmark then company is relatively undervalued.
Otherwise, if the company P/FCFE is higher then the P/FCFE of benchmark then company is relatively overvalued.
Price to FCFE Ratio, Historical
Elevance Health Inc., historical P/FCFE calculation, comparison to benchmarks
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | ||||||
| Selected Financial Data (US$) | ||||||
| Free cash flow to equity (FCFE) (in millions)2 | ||||||
| FCFE per share3 | ||||||
| Share price1, 4 | ||||||
| Valuation Ratio | ||||||
| P/FCFE5 | ||||||
| Benchmarks | ||||||
| P/FCFE, Competitors6 | ||||||
| Abbott Laboratories | ||||||
| CVS Health Corp. | ||||||
| Intuitive Surgical Inc. | ||||||
| Medtronic PLC | ||||||
| UnitedHealth Group Inc. | ||||||
| P/FCFE, Sector | ||||||
| Health Care Equipment & Services | ||||||
| P/FCFE, Industry | ||||||
| Health Care | ||||||
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).
1 Data adjusted for splits and stock dividends.
3 2024 Calculation
FCFE per share = FCFE ÷ No. shares of common stock outstanding
= ÷ =
4 Closing price as at the filing date of Elevance Health Inc. Annual Report.
5 2024 Calculation
P/FCFE = Share price ÷ FCFE per share
= ÷ =
6 Click competitor name to see calculations.
- Share Price
- The share price exhibited a rising trend from 2020 through 2023, increasing from $296.33 to a peak of $509.38. However, in 2024, the share price declined significantly to $390.50, representing a notable decrease after several years of growth.
- FCFE per Share
- Free Cash Flow to Equity (FCFE) per share demonstrated variability across the years. It initially increased from $38.26 in 2020 to $41.42 in 2021, then experienced a decline to $34.15 in 2022 and further to $31.76 in 2023. In 2024, FCFE per share rose sharply to $47.29, reaching the highest value in the five-year span.
- P/FCFE Ratio
- The price-to-FCFE ratio showed an upward trend from 7.75 in 2020 to 16.04 in 2023, indicating increasing valuation multiples relative to the FCFE. This suggests that the market price was rising faster than the FCFE per share for most of this period. In 2024, the ratio decreased substantially to 8.26, paralleling the share price decline and the rise in FCFE per share, reflecting a shift toward a more conservative valuation.