Stock Analysis on Net
AI Tokens
Stock Analysis on Net

Elevance Health Inc. (NYSE:ELV)

Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data

Elevance Health Inc., common-size consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

Microsoft Excel
Sep 30, 2026 Jun 30, 2026 Mar 31, 2026 Dec 31, 2025 Sep 30, 2025 Jun 30, 2025 Mar 31, 2025 Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021
Medical claims payable 14.43 14.60 14.64 14.06 13.97 14.07 14.04 13.47 13.17 13.46 14.71 14.79 14.64 14.81 14.42 15.18 14.79 15.00 14.64 13.87 13.83 13.61 12.90
Other policyholder liabilities 2.06 2.74 3.07 2.99 1.99 2.90 3.17 3.60 3.78 4.37 4.73 5.14 5.14 5.45 5.59 5.77 5.32 5.53 5.37 5.66 5.30 5.50 5.30
Unearned income 1.28 1.30 1.40 1.23 1.49 1.28 1.37 1.29 1.54 1.31 1.32 1.29 3.92 4.08 4.03 1.08 3.59 0.96 1.20 1.18 0.97 1.12 1.19
Accounts payable and accrued expenses 6.51 5.25 4.93 6.03 4.96 5.97 5.96 5.93 5.37 5.10 5.06 6.34 5.42 4.61 4.47 5.46 4.82 5.80 5.47 5.10 6.08 5.83 5.57
Short-term borrowings 0.00 0.00 0.58 0.12 0.15 0.30 0.21 0.31 0.31 0.20 1.41 0.21 0.00 0.24 0.24 0.26 0.26 0.17 0.27 0.28 0.18 0.18 0.00
Current portion of long-term debt 0.29 0.30 0.28 0.90 0.61 1.35 1.37 1.41 1.80 2.57 2.59 1.51 0.72 0.00 0.00 1.46 2.18 2.23 3.08 1.64 0.87 0.88 0.73
Other current liabilities 11.94 10.82 11.11 8.44 10.13 10.08 9.54 8.58 9.97 9.86 9.80 9.08 9.38 8.88 9.66 9.42 9.11 9.28 9.50 8.05 8.63 8.04 10.62
Liabilities held for sale 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.13 0.14 0.15 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Current liabilities 36.51% 35.00% 36.01% 33.78% 33.30% 35.95% 35.67% 34.72% 36.07% 37.01% 39.62% 38.37% 39.23% 38.08% 38.42% 38.63% 40.07% 38.97% 39.54% 35.79% 35.86% 35.17% 36.32%
Long-term debt, less current portion 23.77 24.26 24.45 25.35 25.40 23.11 23.48 25.00 21.19 21.74 19.64 21.34 21.76 22.77 23.11 21.75 20.63 20.98 19.79 21.71 22.19 23.12 23.55
Deferred tax liabilities, net 1.16 1.74 1.42 1.74 1.89 1.65 1.77 1.84 1.80 1.80 1.97 1.81 1.61 1.70 1.86 1.98 1.77 2.00 2.34 2.88 2.68 2.49 2.05
Other noncurrent liabilities 3.50 3.39 3.12 2.90 3.50 3.34 3.48 3.01 3.30 2.02 2.39 2.31 2.51 2.36 2.26 2.24 2.54 2.49 2.48 2.55 2.75 2.75 2.63
Noncurrent liabilities 28.44% 29.39% 28.99% 29.99% 30.79% 28.09% 28.73% 29.84% 26.28% 25.56% 24.00% 25.46% 25.89% 26.83% 27.23% 25.96% 24.94% 25.48% 24.60% 27.14% 27.63% 28.36% 28.23%
Total liabilities 64.95% 64.39% 65.00% 63.76% 64.09% 64.04% 64.40% 64.56% 62.35% 62.57% 63.62% 63.82% 65.12% 64.91% 65.65% 64.59% 65.02% 64.44% 64.14% 62.93% 63.48% 63.53% 64.55%
Preferred stock, without par value; shares issued and outstanding: none 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Common stock, par value $0.01 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Additional paid-in capital 7.03 7.05 7.03 7.36 7.26 7.32 7.41 7.62 7.81 7.97 7.94 8.14 7.99 8.03 7.98 8.84 8.90 9.05 9.11 9.39 9.32 9.48 9.67
Retained earnings 29.24 29.01 28.45 29.13 28.99 29.15 28.86 28.70 30.17 30.60 29.57 29.15 29.06 28.95 28.16 28.92 28.73 28.57 27.92 27.79 27.23 26.92 25.91
Accumulated other comprehensive loss -1.31 -0.56 -0.59 -0.37 -0.44 -0.62 -0.76 -0.98 -0.42 -1.23 -1.22 -1.21 -2.27 -1.98 -1.88 -2.44 -2.70 -2.13 -1.23 -0.18 -0.11 -0.02 -0.20
Shareholders’ equity 34.96% 35.50% 34.89% 36.12% 35.81% 35.86% 35.50% 35.35% 37.56% 37.34% 36.29% 36.08% 34.78% 35.00% 34.26% 35.33% 34.93% 35.50% 35.80% 37.00% 36.44% 36.39% 35.38%
Noncontrolling interests 0.09 0.11 0.11 0.12 0.11 0.11 0.10 0.09 0.09 0.09 0.09 0.09 0.10 0.10 0.10 0.08 0.05 0.05 0.06 0.07 0.07 0.08 0.07
Total equity 35.05% 35.61% 35.00% 36.24% 35.91% 35.96% 35.60% 35.44% 37.65% 37.43% 36.38% 36.18% 34.88% 35.09% 34.35% 35.41% 34.98% 35.56% 35.86% 37.07% 36.52% 36.47% 35.45%
Total liabilities and equity 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-Q (reporting date: 2026-09-30), 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 overall capital structure remains relatively stable over the analyzed period, with total liabilities consistently representing between 62% and 66% of total liabilities and equity, while total equity fluctuates within a narrow band of 34% to 38%. This indicates a consistent approach to leveraging and financing.

Current Liabilities Composition
Current liabilities generally range from 33% to 40% of the total balance sheet. Medical claims payable constitute a significant and stable portion of these liabilities, typically fluctuating between 12.9% and 15.2%. A notable downward trend is observed in other policyholder liabilities, which declined from 5.30% in March 2021 to 2.06% by September 2026. Conversely, unearned income exhibited temporary volatility, peaking at 4.08% in June 2023 before reverting to levels near 1.3%.
Long-term Debt and Noncurrent Liabilities
Long-term debt, excluding the current portion, serves as a primary component of noncurrent liabilities, consistently representing between 19% and 25% of total liabilities and equity. There is a observed increase in long-term debt proportions toward the end of 2024 and throughout 2025, peaking at 25.40% in September 2025. Other noncurrent liabilities have remained relatively flat, though a slight increase is noted from 2024 onwards, reaching 3.50% by September 2026.
Equity Trends and Capital Accumulation
Shareholders' equity shows a pattern of stability with a gradual shift in its internal components. Retained earnings have trended upward, moving from 25.91% in March 2021 to 29.24% by September 2026, suggesting a consistent accumulation of profits. This is contrasted by a steady decline in additional paid-in capital, which decreased from 9.67% to 7.03% over the same period. Accumulated other comprehensive loss showed significant volatility, reaching a low of -2.70% in September 2022 before recovering and then dipping again to -1.31% in September 2026.

The financial posture is characterized by a reliance on internal funding through retained earnings to support equity, while maintaining a steady ratio of long-term debt. The reduction in policyholder liabilities suggests a shift in the obligations profile, while the overall stability of total liabilities and equity indicates a disciplined maintenance of the company's solvency ratio.

AI Ask an analyst for more

My previous chats

Add tokens

Hi, I’m an AI-powered financial analyst at Stock Analysis on Net.
Without a user account, I tend to respond rather slowly.

How can I help you?