Stock Analysis on Net
Stock Analysis on Net

Elevance Health Inc. (NYSE:ELV)

$24.99

Return on Assets (ROA)
since 2005

Microsoft Excel

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Calculation

Elevance Health Inc., ROA, long-term trends, calculation

Microsoft Excel
ROA = 100 × Shareholders’ net income1 ÷ Total assets1
Dec 31, 2024 = 100 × ÷
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Dec 31, 2005 = 100 × ÷

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), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).

1 US$ in millions

Shareholders’ Net Income
The shareholders' net income exhibited fluctuations over the presented years. Initial growth was observed from 2005 to 2007, reaching a peak of 3,345 million USD in 2007, followed by a considerable decline in 2008 to 2,491 million USD. A sharp rebound occurred in 2009, peaking at 4,746 million USD, before experiencing a downward trend between 2010 and 2012 with values around 2,600 to 2,800 million USD. From 2013 onwards, net income showed increased volatility but generally displayed an upward trajectory, achieving its highest levels between 2019 and 2021, surpassing 6,000 million USD. The most recent years up to 2024 indicated slight decreases but remained near peak levels, suggesting strong sustained profitability.
Total Assets
Total assets demonstrated a consistent upward trend over the entire period. Starting at 51,405 million USD in 2005, assets remained relatively stable until 2007, with a minor dip in 2008. From 2009 onward, there was steady growth each year, reaching approximately 116,889 million USD by 2024. This represents more than a doubling of total assets over the two decades, indicating ongoing expansion and asset accumulation. The growth pace accelerated notably after 2015, pointing towards strategic investments or acquisitions contributing to the asset base.
Return on Assets (ROA)
The ROA ratio displayed variability within a moderate range, reflecting changes in profitability relative to asset size. After a rise from 4.79% in 2005 to a peak of 9.1% in 2009, ROA declined sharply the following year to 5.75% and then exhibited a gradual downward trend through to 2012, with values around 4.5%. The ratio experienced modest recovery phases between 2013 and 2017, followed by a significant increase to over 6% in 2019 and 2021. The years 2022 to 2024 showed a slight decrease, settling around 5.1% by 2024. Overall, ROA indicates cyclical profitability with periods of both strong and moderate asset efficiency.
Summary of Trends and Insights
The data reveals a pattern of moderate volatility in net income, but with a general upward movement especially in the latter half of the period. The asset base expanded remarkably through steady accumulation, suggesting a strategy focused on growth or diversification. ROA figures correspond to varying profitability phases, indicating that while total assets have increased significantly, efficiency in utilizing these assets for income has fluctuated but remained reasonably healthy. The period post-2015 marks notable improvements in both net income and asset growth, which together have improved overall returns. Sustained high asset levels combined with strong net income in recent years point to a solid financial position; however, slight declines in ROA toward 2024 suggest a need for ongoing attention to profitability management relative to asset growth.

Comparison to Competitors

Elevance Health Inc., ROA, long-term trends, comparison to competitors

Microsoft Excel
Elevance Health Inc. Abbott Laboratories Intuitive Surgical Inc. Medtronic PLC UnitedHealth Group Inc.
Dec 31, 2024
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Dec 31, 2022
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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), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).

Comparison to Sector (Health Care Equipment & Services)

Elevance Health Inc., ROA, long-term trends, comparison to sector (health care equipment & services)

Microsoft Excel
Elevance Health Inc. Health Care Equipment & Services
Dec 31, 2024
Dec 31, 2023
Dec 31, 2022
Dec 31, 2021
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Dec 31, 2018
Dec 31, 2017
Dec 31, 2016
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Dec 31, 2012
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Dec 31, 2010
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Dec 31, 2007
Dec 31, 2006
Dec 31, 2005

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), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).

Comparison to Industry (Health Care)

Elevance Health Inc., ROA, long-term trends, comparison to industry (health care)

Microsoft Excel
Elevance Health Inc. Health Care
Dec 31, 2024
Dec 31, 2023
Dec 31, 2022
Dec 31, 2021
Dec 31, 2020
Dec 31, 2019
Dec 31, 2018
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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), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).