Analysis of Revenues
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- Income Statement
- Statement of Comprehensive Income
- Analysis of Long-term (Investment) Activity Ratios
- Common Stock Valuation Ratios
- Enterprise Value to FCFF (EV/FCFF)
- Dividend Discount Model (DDM)
- Net Profit Margin since 2005
- Current Ratio since 2005
- Debt to Equity since 2005
- Price to Earnings (P/E) since 2005
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Revenues as Reported
Elevance Health Inc., income statement, revenues
US$ in millions
| 12 months ended: | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Health Benefits | |||||||||||
| CarelonRx | |||||||||||
| Carelon Services | |||||||||||
| Carelon | |||||||||||
| Corporate & Other | |||||||||||
| Eliminations | |||||||||||
| Operating revenue, unaffiliated |
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 revenue data demonstrates consistent growth across most segments over the five-year period.
- Health Benefits
- The Health Benefits segment shows a steady upward trend, increasing from $108,271 million in 2020 to $150,275 million in 2024. This represents a significant cumulative growth, indicating strong demand or successful market expansion in this core area.
- CarelonRx
- CarelonRx reveals notable growth, rising from $10,384 million in 2020 to $22,635 million in 2024. The acceleration in growth is particularly pronounced in the later years, with the increase between 2022 and 2024 outpacing earlier periods, suggesting expanding operations or market share gains.
- Carelon Services
- The Carelon Services segment shows more modest growth with fluctuations. After an increase from $2,153 million in 2020 to $2,630 million in 2021, there was a decline to $2,388 million in 2022, followed by recovery to $3,420 million in 2024. This pattern indicates some volatility but an overall positive trend by the end of the period.
- Carelon Composite
- The aggregated Carelon unit, combining CarelonRx and Carelon Services, reflects consistent growth from $12,537 million in 2020 to $26,055 million in 2024. This growth aligns with the trends seen in its component segments, emphasizing the expanding importance of this division.
- Corporate & Other
- This line shows minimal impact on total revenues, with small values decreasing from a positive $66 million in 2021 to just $6 million in 2024. The declining contribution signifies that this segment is not a major revenue driver and may be contracting or becoming less relevant.
- Eliminations
- Eliminations represent negative adjustments to avoid double counting of intercompany revenues. The magnitude of eliminations has increased over time, from -$138 million in 2021 to -$1,132 million in 2024. This rising figure suggests growing internal transactions requiring elimination, possibly due to the expansion of interconnected operations.
- Operating Revenue, Unaffiliated
- Overall operating revenue from unaffiliated sources exhibits steady growth, increasing from $120,808 million in 2020 to $175,204 million in 2024. The trend confirms the company's successful expansion efforts and growing market position over the five years analyzed.