Stock Analysis on Net
Stock Analysis on Net

Elevance Health Inc. (NYSE:ELV)

Common-Size Balance Sheet: Assets

Elevance Health Inc., common-size consolidated balance sheet: assets

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Dec 31, 2025 Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021
Cash and cash equivalents 7.81 7.09 5.99 7.19 5.01
Fixed maturity securities 21.30 21.56 27.19 25.25 26.95
Equity securities 0.61 1.02 0.21 0.93 1.93
Premium receivables 8.29 6.85 7.25 6.89 5.83
Self-funded receivables 4.25 4.32 4.18 4.54 4.11
Other receivables 5.19 5.15 4.96 4.18 3.85
Other current assets 4.40 4.02 5.32 5.14 4.78
Assets held for sale 0.00 0.42 0.00 0.00 0.00
Current assets 51.86% 50.43% 55.11% 54.12% 52.45%
Fixed maturity securities 0.92 0.89 0.80 0.73 0.65
Other invested assets 8.92 8.34 5.61 5.53 5.36
Long-term investments 9.84% 9.23% 6.41% 6.26% 6.01%
Property and equipment, net 3.85 3.98 4.00 4.20 4.02
Goodwill 23.33 24.19 23.24 23.73 24.86
Other intangible assets 9.22 10.35 9.43 10.04 10.89
Other noncurrent assets 1.90 1.83 1.81 1.66 1.76
Noncurrent assets 48.14% 49.57% 44.89% 45.88% 47.55%
Total assets 100.00% 100.00% 100.00% 100.00% 100.00%

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).

The asset allocation of the company demonstrates notable shifts between 2021 and 2025. Current assets experienced initial growth, peaking in 2023, before declining, while noncurrent assets exhibited a more fluctuating pattern. Within current assets, the composition also underwent changes, with varying trends observed across different components.

Liquidity and Current Assets
The proportion of assets held as cash and cash equivalents increased from 5.01% in 2021 to 7.81% in 2025, indicating a growing emphasis on liquid assets. Premium receivables also showed an increasing trend, rising from 5.83% to 8.29% over the same period. Other receivables and other current assets also increased, though at a slower pace. However, the overall percentage of current assets decreased from 52.45% in 2023 to 50.43% in 2024, then recovered slightly to 51.86% in 2025. This suggests a shift in asset allocation towards longer-term holdings despite the increases in individual current asset components.
Investments
Fixed maturity securities experienced a decrease as a percentage of total assets, falling from 26.95% in 2021 to 21.30% in 2025. Equity securities saw a significant decline from 1.93% to 0.61% over the period. Conversely, long-term investments increased substantially, rising from 6.01% in 2021 to 9.84% in 2025, and other invested assets also showed a marked increase, growing from 5.36% to 8.92%. This indicates a strategic move towards longer-duration investments.
Long-Term Assets
Goodwill remained relatively stable, fluctuating between 23.73% and 24.86% of total assets. Other intangible assets decreased from 10.89% in 2021 to 9.22% in 2025. Property and equipment, net, experienced a slight decline, decreasing from 4.02% to 3.85%. The proportion of noncurrent assets generally remained around 48-49% of total assets, with a slight dip in 2022 and 2023.
Assets Held for Sale
Assets held for sale represented 0.42% of total assets in 2024, suggesting a potential divestiture or restructuring activity during that year. This item was not present in other years examined.

In summary, the company’s asset allocation shifted over the five-year period, with a relative decrease in certain securities and an increase in long-term investments and liquid assets. The changes suggest a potential strategic repositioning of the asset base, balancing liquidity with longer-term growth opportunities.

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