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Stock Analysis on Net

Elevance Health Inc. (NYSE:ELV)

Balance Sheet: Assets
Quarterly Data

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.

Assets: Selected Items

Current Assets: Selected Items

Elevance Health Inc., consolidated balance sheet: assets (quarterly data)

US$ in millions

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
Cash and cash equivalents 10,348 10,232 9,657 9,491 8,713 8,560 7,500 8,288 7,866 6,497 6,226 6,526 10,919 9,991 10,142 7,387 8,872 6,456 6,161 4,880 5,490 5,258 9,326
Fixed maturity securities 25,347 25,719 25,905 25,884 26,283 25,298 25,437 25,201 28,954 28,900 29,530 29,614 27,811 28,021 27,636 25,952 25,526 25,765 26,219 26,267 26,348 25,848 24,555
Equity securities 2,151 1,563 1,511 740 1,220 934 715 1,192 1,113 594 511 229 165 272 392 953 1,503 1,572 1,662 1,881 2,119 1,746 3,630
Premium receivables, net 10,686 10,991 11,525 10,073 9,535 10,465 10,359 8,011 7,209 8,040 8,931 7,902 7,883 7,431 8,246 7,083 6,682 6,757 7,349 5,681 6,008 5,834 6,111
Self-funded receivables, net 6,277 5,583 5,098 5,162 5,122 5,454 5,246 5,044 5,135 5,297 4,242 4,558 3,756 3,896 3,786 4,663 3,873 3,844 3,979 4,010 3,349 3,605 3,109
Other receivables 7,610 6,818 6,167 6,307 7,692 7,206 6,576 6,016 6,055 5,881 5,120 5,405 5,293 5,196 4,678 4,298 3,651 3,600 3,334 3,749 3,450 3,246 3,071
Other current assets 6,105 6,278 7,169 5,344 5,213 5,407 5,288 4,700 5,949 6,464 6,388 5,795 5,358 4,936 4,943 5,281 5,496 5,661 5,193 4,654 5,140 4,701 4,693
Assets held for sale — — — — — — — 490 565 601 — — — — — — — — — — — — —
Current assets 68,524 67,184 67,032 63,001 63,778 63,324 61,121 58,942 62,846 62,274 60,948 60,029 61,185 59,743 59,823 55,617 55,603 53,655 53,897 51,122 51,904 50,238 54,495
Fixed maturity securities 1,211 1,259 1,114 1,121 1,111 1,087 1,060 1,035 893 849 880 876 816 775 783 752 622 603 596 632 625 581 558
Other invested assets 11,508 11,130 11,009 10,839 10,648 10,466 10,167 9,749 9,394 6,810 6,713 6,107 6,118 5,993 5,971 5,685 5,516 5,398 5,365 5,225 4,959 4,917 4,474
Long-term investments 12,719 12,389 12,123 11,960 11,759 11,553 11,227 10,784 10,287 7,659 7,593 6,983 6,934 6,768 6,754 6,437 6,138 6,001 5,961 5,857 5,584 5,498 5,032
Property and equipment, net 4,613 4,645 4,657 4,679 4,657 4,641 4,617 4,652 4,505 4,450 4,451 4,359 4,248 4,547 4,418 4,316 4,197 4,090 3,986 3,919 3,835 3,733 3,533
Goodwill 28,343 28,339 28,340 28,344 28,451 28,368 28,420 28,277 25,967 25,962 25,947 25,317 25,291 25,274 25,273 24,383 24,381 24,367 24,251 24,228 24,184 24,399 21,708
Other intangible assets 10,877 10,983 11,093 11,200 11,327 11,490 11,940 12,094 10,325 10,447 10,710 10,273 10,491 10,703 10,915 10,315 10,536 10,762 10,588 10,615 10,749 10,540 9,352
Other noncurrent assets 2,725 2,898 2,582 2,310 2,777 2,562 2,392 2,140 2,603 2,196 2,245 1,967 2,329 2,133 1,857 1,704 2,171 2,002 1,803 1,719 1,804 1,689 1,563
Noncurrent assets 59,277 59,254 58,795 58,493 58,971 58,614 58,596 57,947 53,687 50,714 50,946 48,899 49,293 49,425 49,217 47,155 47,423 47,222 46,589 46,338 46,156 45,859 41,188
Total assets 127,801 126,438 125,827 121,494 122,749 121,938 119,717 116,889 116,533 112,988 111,894 108,928 110,478 109,168 109,040 102,772 103,026 100,877 100,486 97,460 98,060 96,097 95,683

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).


Total assets exhibit a consistent upward trajectory over the analyzed period, increasing from 95,683 million US dollars in March 2021 to 127,801 million US dollars by September 2026. This growth is distributed across both current and noncurrent asset categories, reflecting a broadening of the balance sheet base.

Current Asset Trends
Current assets rose from 54,495 million US dollars to 68,524 million US dollars. A significant driver of this increase is the growth in premium receivables, which ascended from 6,111 million US dollars to 10,686 million US dollars. Cash and cash equivalents showed volatility, reaching a peak of 10,919 million US dollars in September 2023 before stabilizing in the 8,000 to 10,000 million US dollar range. Fixed maturity securities remained relatively stable, generally fluctuating between 24,000 and 30,000 million US dollars.
Equity Securities Volatility
A notable contraction occurred in equity securities, which declined from 3,630 million US dollars in March 2021 to a low of 165 million US dollars in September 2023. However, a recovery phase followed, with values climbing back to 2,151 million US dollars by September 2026, indicating a strategic shift in short-term investment allocation.
Noncurrent Asset Expansion
Noncurrent assets experienced substantial growth, moving from 41,188 million US dollars to 59,277 million US dollars. This expansion is primarily attributed to the increase in goodwill and long-term investments. Goodwill rose from 21,708 million US dollars to 28,343 million US dollars, with a sharp increase observed between December 2022 and March 2024. Long-term investments more than doubled, increasing from 5,032 million US dollars to 12,719 million US dollars.
Investment Asset Growth
Other invested assets demonstrated a strong growth pattern, increasing from 4,474 million US dollars in March 2021 to 11,508 million US dollars by September 2026. The pace of this increase accelerated notably after June 2023, coinciding with the steady rise in long-term investment holdings.

The overall asset structure indicates a strategic shift toward long-term investment and the accumulation of receivables, paired with a significant increase in intangible value through goodwill. While liquidity remains robust through stable cash and fixed maturity security levels, the balance sheet has become increasingly weighted toward noncurrent assets and long-term strategic holdings.

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