Stock Analysis on Net
Stock Analysis on Net

Elevance Health Inc. (NYSE:ELV)

$24.99

Return on Equity (ROE)
since 2005

Microsoft Excel

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Calculation

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

Microsoft Excel
ROE = 100 × Shareholders’ net income1 ÷ Shareholders’ equity1
Dec 31, 2024 = 100 × ÷
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Dec 31, 2020 = 100 × ÷
Dec 31, 2019 = 100 × ÷
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Dec 31, 2006 = 100 × ÷
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

The financial data reveals several notable trends over the examined period. The shareholders’ net income fluctuated with periods of both growth and decline. Initially, net income rose from 2,464 million US dollars in 2005 to a peak of 4,746 million in 2009, followed by a significant drop in 2010 and stabilization around the 2,500 to 2,600 million range until 2016. After 2016, net income showed a clear upward trend, reaching above 6,000 million by 2021, then slightly declining but remaining near that level through 2024.

The shareholders’ equity exhibited more steady growth compared to net income. Starting at 24,993 million US dollars in 2005, it experienced minor fluctuations but maintained a generally upward trajectory. From 2012 onwards, equity consistently increased, reaching 41,315 million by 2024, indicating gradual strengthening of the company’s financial foundation over time.

The return on equity (ROE) percentage demonstrated variability aligned somewhat with net income trends. After rising from 9.86% in 2005 to a peak of 19.09% in 2009, ROE dropped significantly in 2010 and then generally hovered between 9.84% and 14.5% through 2016. From 2017 onward, ROE increased notably, peaking at 16.93% in 2021, before slightly declining to 14.47% in 2024. This pattern suggests an improvement in profitability relative to equity in the later years following more moderate returns in the earlier period.

Shareholders' net income:
Increased sharply until 2009, declined strongly in 2010, remained stable with minor fluctuations until 2016, then showed a sustained upward trend peaking around 2021, with a slight decline afterward.
Shareholders' equity:
Displayed steady, mostly consistent growth across the entire period with minor fluctuations, increasing by over 65% from 2005 to 2024.
Return on equity (ROE):
Experienced a peak in 2009, followed by a decline and stabilization at moderate levels, then an upward trend starting in 2017, reaching high points near 17% before a moderate reduction toward 2024.

Overall, the data suggests that while profitability as measured by net income and ROE showed periods of volatility especially around 2009-2010, the company strengthened its equity position steadily. More recent years have been characterized by improved profitability and efficient use of shareholders’ equity, despite some slight downturns in the latest year projections.

Comparison to Competitors

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

Microsoft Excel
Elevance Health Inc. Abbott Laboratories Intuitive Surgical Inc. Medtronic PLC UnitedHealth Group Inc.
Dec 31, 2024
Dec 31, 2023
Dec 31, 2022
Dec 31, 2021
Dec 31, 2020
Dec 31, 2019
Dec 31, 2018
Dec 31, 2017
Dec 31, 2016
Dec 31, 2015
Dec 31, 2014
Dec 31, 2013
Dec 31, 2012
Dec 31, 2011
Dec 31, 2010
Dec 31, 2009
Dec 31, 2008
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 Sector (Health Care Equipment & Services)

Elevance Health Inc., ROE, 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
Dec 31, 2020
Dec 31, 2019
Dec 31, 2018
Dec 31, 2017
Dec 31, 2016
Dec 31, 2015
Dec 31, 2014
Dec 31, 2013
Dec 31, 2012
Dec 31, 2011
Dec 31, 2010
Dec 31, 2009
Dec 31, 2008
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., ROE, 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
Dec 31, 2017
Dec 31, 2016
Dec 31, 2015
Dec 31, 2014
Dec 31, 2013
Dec 31, 2012
Dec 31, 2011
Dec 31, 2010
Dec 31, 2009
Dec 31, 2008
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).