Common-Size Balance Sheet: Assets
Quarterly Data
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Elevance Health Inc., common-size consolidated balance sheet: assets (quarterly data)
Based on: 10-Q (reporting date: 2026-06-30), 10-Q (reporting date: 2026-03-31), 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31).
The asset composition of the organization demonstrates a strategic shift in liquidity management and investment allocation over the analyzed period. While total current assets have remained relatively stable, fluctuating between 50% and 57% of total assets, there is a discernible transition from short-term securities toward long-term investment vehicles and an increase in the proportion of receivables.
- Liquidity and Short-Term Investment Trends
- Cash and cash equivalents experienced volatility, starting at 9.75% in March 2021, dipping to a low of 5.01% by December 2021, and eventually stabilizing between 6% and 8% through 2025 and 2026. A more pronounced contraction is observed in fixed maturity securities, which represented approximately 25% to 27% of total assets between 2021 and 2023 before declining to approximately 20.34% by June 2026. Similarly, equity securities saw a significant reduction, falling from 3.79% in early 2021 to fluctuate generally around 1% in the latter years of the period.
- Receivables Analysis
- There is a consistent upward trend in the weight of receivables relative to total assets. Premium receivables, net, grew from 6.39% in March 2021 to a peak of 9.16% in March 2026. Other receivables also showed steady growth, increasing from 3.21% to 5.39% over the same timeframe. Self-funded receivables remained comparatively stable, generally fluctuating between 3.4% and 4.6%.
- Long-Term Investment Growth
- A strategic reallocation toward noncurrent investments is evident. Other invested assets rose steadily from 4.68% in March 2021 to 8.80% by June 2026. Long-term investments followed a similar trajectory, increasing from 5.26% to 9.80%. This suggests a shift in the balance sheet structure toward assets with longer durations or different risk-return profiles.
- Intangible and Fixed Assets
- Goodwill remains a substantial component of the asset base, consistently representing between 22% and 25% of total assets, indicating that historical acquisitions continue to drive a large portion of the company's valuation. Other intangible assets showed a gradual decline from 9.77% in March 2021 to 8.69% by June 2026. Property and equipment, net, remained marginalized and stable, fluctuating slightly around the 3.7% to 4.2% range.
Overall, the asset structure reflects a transition toward higher proportions of receivables and long-term investments, offset by a reduction in the concentration of short-term fixed maturity and equity securities. This suggests a movement toward a more long-term oriented investment strategy while managing a growing base of operational receivables.