Analysis of Liquidity Ratios
Quarterly Data
Liquidity ratios measure the company ability to meet its short-term obligations.
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Liquidity Ratios (Summary)
Elevance Health Inc., liquidity ratios (quarterly data)
Based on: 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).
An analysis of the liquidity position reveals a consistent and robust ability to meet short-term obligations throughout the observed period. The ratios demonstrate overall stability with a gradual strengthening of liquidity buffers that peaked in the latter half of 2025.
- Current Ratio
- The current ratio remained consistently above 1.35, reflecting a stable margin of safety. A general upward trajectory is observed, moving from 1.36 in March 2022 to a peak of 1.56 in September 2025, before moderating to 1.48 by March 2026. This indicates a sustained capacity to cover current liabilities with current assets.
- Quick Ratio
- The quick ratio closely mirrors the movement of the current ratio, fluctuating between a minimum of 1.21 in September 2022 and a maximum of 1.43 in September 2025. The narrow variance between the current and quick ratios suggests that the entity maintains minimal reliance on inventory to satisfy short-term commitments.
- Cash Ratio
- The cash ratio exhibited higher volatility relative to the other metrics, ranging from a peak of 0.92 in June 2023 to a low of 0.79 during the first half of 2025. Despite these fluctuations, the ratio consistently remained high, signaling that a substantial portion of current liabilities is backed by cash and cash equivalents.
The overall liquidity profile is characterized by high stability and a strong cash position. The correlation between the three metrics suggests a conservative financial management strategy, ensuring ample liquidity to support operational requirements and mitigate short-term financial risks.
Current Ratio
Elevance Health Inc., current ratio calculation (quarterly data)
| 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||
| Current assets | |||||||||||||||||||||||
| Current liabilities | |||||||||||||||||||||||
| Liquidity Ratio | |||||||||||||||||||||||
| Current ratio1 | |||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||
| Current Ratio, Competitors2 | |||||||||||||||||||||||
| Abbott Laboratories | |||||||||||||||||||||||
| Intuitive Surgical Inc. | |||||||||||||||||||||||
| Medtronic PLC | |||||||||||||||||||||||
| UnitedHealth Group Inc. | |||||||||||||||||||||||
Based on: 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).
1 Q1 2026 Calculation
Current ratio = Current assets ÷ Current liabilities
= ÷ =
2 Click competitor name to see calculations.
The liquidity position demonstrates a consistent upward trajectory over the analyzed period, characterized by a gradual increase in the capacity to meet short-term obligations. The overall trend indicates a strengthening of the balance sheet, with the liquidity cushion expanding from early 2022 through early 2026.
- Current Asset Trends
- Current assets exhibited a general growth pattern, rising from 53,897 million US dollars in March 2022 to 67,032 million US dollars by March 2026. While the growth was largely steady, a temporary contraction occurred in December 2024, where assets dipped to 58,942 million US dollars before rebounding strongly in the subsequent quarters. This recovery suggests an effective replenishment of liquid resources.
- Current Liability Trends
- Current liabilities followed a similar, albeit more volatile, upward trend, starting at 39,733 million US dollars in March 2022 and reaching 45,309 million US dollars by March 2026. Notably, liabilities experienced periodic reductions, such as in June 2024 and December 2024, indicating active management of short-term debt or operational payables.
- Current Ratio Analysis
- The current ratio remained stable above 1.30 throughout the entire period, signifying a persistent ability to cover current liabilities with current assets. The ratio climbed from 1.36 in the first quarter of 2022 to a peak of 1.56 in September 2025. This peak reflects a period of optimized liquidity where asset growth outpaced the increase in liabilities. By March 2026, the ratio settled at 1.48, maintaining a healthy margin above the 1.0 threshold.
- Liquidity Correlation
- The correlation between the growth in assets and liabilities suggests that the expansion of the business has been supported by a proportional increase in short-term obligations, yet the increasing current ratio indicates a strategic shift toward a more conservative liquidity posture. The most significant improvement in the ratio occurred between March 2024 (1.37) and September 2025 (1.56), highlighting a period of enhanced financial flexibility.
Quick Ratio
Elevance Health Inc., quick ratio calculation (quarterly data)
| 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||
| Cash and cash equivalents | |||||||||||||||||||||||
| Fixed maturity securities | |||||||||||||||||||||||
| Equity securities | |||||||||||||||||||||||
| Premium receivables, net | |||||||||||||||||||||||
| Self-funded receivables, net | |||||||||||||||||||||||
| Other receivables | |||||||||||||||||||||||
| Total quick assets | |||||||||||||||||||||||
| Current liabilities | |||||||||||||||||||||||
| Liquidity Ratio | |||||||||||||||||||||||
| Quick ratio1 | |||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||
| Quick Ratio, Competitors2 | |||||||||||||||||||||||
| Abbott Laboratories | |||||||||||||||||||||||
| Intuitive Surgical Inc. | |||||||||||||||||||||||
| Medtronic PLC | |||||||||||||||||||||||
| UnitedHealth Group Inc. | |||||||||||||||||||||||
Based on: 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).
1 Q1 2026 Calculation
Quick ratio = Total quick assets ÷ Current liabilities
= ÷ =
2 Click competitor name to see calculations.
The analysis of liquidity metrics from March 2022 through March 2026 indicates a stable and strengthening short-term financial position. The organization has consistently maintained a quick ratio above 1.0, suggesting a robust ability to meet immediate obligations using its most liquid assets without relying on the sale of inventory.
- Quick Asset Trajectory
- Total quick assets demonstrated a general upward trend, increasing from 48,704 million USD in March 2022 to 59,863 million USD by March 2026. Growth was characterized by steady climbs interrupted by periodic contractions occurring around the December quarter of 2023, 2024, and 2025, followed by recoveries in the subsequent first quarters.
- Current Liabilities Profile
- Current liabilities remained relatively stable with a gradual increase over the analyzed period. Liabilities stood at 39,733 million USD in March 2022 and reached 45,309 million USD by March 2026. A notable period of fluctuation occurred between June 2024 and December 2024, where liabilities decreased to 41,813 million USD before trending upward again into 2026.
- Quick Ratio Performance and Stability
- The quick ratio exhibited low volatility and a slight positive drift. After reaching a period low of 1.21 in September 2022, the ratio generally trended upward, peaking at 1.43 in September 2025. The maintenance of the ratio within a tight range of 1.21 to 1.43 reflects a disciplined approach to liquidity management, ensuring that liquid assets consistently exceed short-term obligations by a significant margin.
Cash Ratio
Elevance Health Inc., cash ratio calculation (quarterly data)
| 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||
| Cash and cash equivalents | |||||||||||||||||||||||
| Fixed maturity securities | |||||||||||||||||||||||
| Equity securities | |||||||||||||||||||||||
| Total cash assets | |||||||||||||||||||||||
| Current liabilities | |||||||||||||||||||||||
| Liquidity Ratio | |||||||||||||||||||||||
| Cash ratio1 | |||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||
| Cash Ratio, Competitors2 | |||||||||||||||||||||||
| Abbott Laboratories | |||||||||||||||||||||||
| Intuitive Surgical Inc. | |||||||||||||||||||||||
| Medtronic PLC | |||||||||||||||||||||||
| UnitedHealth Group Inc. | |||||||||||||||||||||||
Based on: 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).
1 Q1 2026 Calculation
Cash ratio = Total cash assets ÷ Current liabilities
= ÷ =
2 Click competitor name to see calculations.
The liquidity profile from March 2022 through March 2026 reflects a stable but fluctuating cash position relative to short-term obligations. While total cash assets remained within a consistent range, a gradual increase in current liabilities has influenced the overall liquidity ratio.
- Total Cash Assets Analysis
- Cash assets exhibited relative stability over the period, oscillating between a minimum of 33,652 million US dollars in December 2023 and a peak of 38,895 million US dollars in September 2023. An upward trend was observed throughout the first three quarters of 2023, followed by a period of consolidation and minor volatility through 2024 and 2025.
- Current Liabilities Analysis
- A gradual upward trajectory is observed in current liabilities, which rose from 39,733 million US dollars in March 2022 to 45,309 million US dollars by March 2026. This steady expansion suggests a consistent increase in short-term financial obligations over the analyzed timeframe.
- Cash Ratio Interpretation
- The cash ratio remained consistently below 1.0, indicating that cash assets alone were not sufficient to cover total current liabilities. The ratio reached its zenith of 0.92 in June 2023, marking the point of strongest immediate liquidity. A subsequent decline was noted in the first half of 2025, with the ratio hitting a floor of 0.79 in March and June 2025. Although a recovery to 0.89 occurred by September 2025, the ratio ended the period at 0.82 in March 2026, reflecting the impact of rising liabilities against a stabilizing cash base.