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, 2025 = 100 × ÷
Dec 31, 2024 = 100 × ÷
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Dec 31, 2021 = 100 × ÷
Dec 31, 2020 = 100 × ÷
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Dec 31, 2009 = 100 × ÷
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Dec 31, 2007 = 100 × ÷
Dec 31, 2006 = 100 × ÷
Dec 31, 2005 = 100 × ÷

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), 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

The Return on Assets (ROA) for the analyzed period demonstrates considerable fluctuation, generally trending upward over the long term but with notable interim variations. Initial values indicate a steady increase from 2005 to 2009, followed by a period of relative stability and then a resurgence in later years.

Initial Growth (2005-2009)
From 2005 to 2009, ROA exhibited a consistent upward trajectory, increasing from 4.79% to a peak of 9.10%. This suggests improving efficiency in utilizing assets to generate profit during this timeframe. The increase indicates a strengthening relationship between net income and the asset base.
Period of Stabilization and Decline (2010-2016)
Following 2009, ROA experienced a decline, reaching 3.79% in 2016. While there were some fluctuations within this period, the overall trend was downward. This could be attributed to a slower growth in net income relative to the increasing total assets, or potentially less efficient asset utilization. The period between 2010 and 2014 shows a relatively flat ROA, hovering around the 4-6% range.
Renewed Growth (2017-2021)
Beginning in 2017, ROA began to climb again, reaching 6.26% in 2021. This resurgence suggests a renewed ability to generate earnings from its asset base. The increase from 3.79% in 2016 to 6.26% in 2021 represents a significant improvement in profitability relative to asset investment.
Recent Moderation (2022-2025)
The most recent years, 2022 through 2025, show a slight moderation in ROA, decreasing from 5.86% to 4.66%. While still representing a healthy return, this suggests a potential slowing of the positive trend observed in prior years. The decline from 2021 to 2025 indicates a possible challenge in maintaining the same level of profitability relative to the growing asset base.

Overall, the ROA demonstrates a cyclical pattern with periods of growth, stabilization, and decline. The company has generally improved its ROA over the analyzed period, but recent trends suggest a need to monitor asset utilization and profitability closely.

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, 2025
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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), 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, 2025
Dec 31, 2024
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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), 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, 2025
Dec 31, 2024
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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), 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).