Stock Analysis on Net

Elevance Health Inc. (NYSE:ELV)

Analysis of Short-term (Operating) Activity Ratios
Quarterly Data

Microsoft Excel

Short-term Activity Ratios (Summary)

Elevance Health Inc., short-term (operating) activity ratios (quarterly data)

Microsoft Excel
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 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Turnover Ratios
Receivables turnover 18.08 17.93 18.82 16.53 18.81 19.51 18.80 16.67 20.66 18.93 18.81 17.39 19.72 18.91 18.04 16.74 18.20
Payables turnover 7.72 7.61 7.54 7.57 7.47 7.48 7.35 7.28 7.59 7.31 7.30 7.31 7.75 8.32 8.42 8.48 9.25
Working capital turnover 7.83 7.92 7.69 7.60 8.37 9.11 8.85 8.65 7.23 6.79 6.67 5.38 6.39 5.98 5.40 6.81 6.11
Average No. Days
Average receivable collection period 20 20 19 22 19 19 19 22 18 19 19 21 19 19 20 22 20
Average payables payment period 47 48 48 48 49 49 50 50 48 50 50 50 47 44 43 43 39

Based on: 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), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

Short-term activity ratio Description The company
Receivables turnover An activity ratio equal to revenue divided by receivables. Elevance Health Inc. receivables turnover ratio deteriorated from Q2 2023 to Q3 2023 but then slightly improved from Q3 2023 to Q4 2023.
Payables turnover An activity ratio calculated as cost of goods sold divided by payables. Elevance Health Inc. payables turnover ratio increased from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023.
Working capital turnover An activity ratio calculated as revenue divided by working capital. Elevance Health Inc. working capital turnover ratio improved from Q2 2023 to Q3 2023 but then slightly deteriorated from Q3 2023 to Q4 2023.

Short-term activity ratio Description The company
Average receivable collection period An activity ratio equal to the number of days in the period divided by receivables turnover.
Average payables payment period An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period.

Receivables Turnover

Elevance Health Inc., receivables turnover calculation (quarterly data)

Microsoft Excel
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 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Selected Financial Data (US$ in millions)
Premiums 35,138 35,259 36,589 35,868 33,646 33,722 33,076 32,785 30,769 30,395 28,533 27,676 27,108 26,392 25,092 25,517 24,036 23,793 23,501 22,843
Premium receivables 7,902 7,883 7,431 8,246 7,083 6,682 6,757 7,349 5,681 6,008 5,834 6,111 5,279 5,343 5,456 5,786 5,173 4,782 4,751 5,049
Short-term Activity Ratio
Receivables turnover1 18.08 17.93 18.82 16.53 18.81 19.51 18.80 16.67 20.66 18.93 18.81 17.39 19.72 18.91 18.04 16.74 18.20
Benchmarks
Receivables Turnover, Competitors2
Abbott Laboratories 6.11 6.15 6.52 6.89 7.02 7.03 6.33 6.20 6.64 6.61 6.58 6.13 5.40 5.70 6.12 6.06 5.88
CVS Health Corp. 10.12 10.53 11.44 11.65 11.79 11.94 11.27 11.30 11.91 11.23 11.48 11.32 12.32 11.14 11.68 11.33 13.04
Danaher Corp. 6.09 7.04 7.23 7.18 6.40 7.09 6.81 6.87 6.36 6.69 6.51 6.28 5.51 5.83 5.59 5.25 5.61
Humana Inc. 51.75 55.60 68.53 30.60 55.25 56.74 26.54 27.18 45.69 42.91 32.51 35.43 66.78 64.58 31.30 33.43 60.97
Intuitive Surgical Inc. 6.30 7.12 7.37 6.95 6.60 7.20 7.11 6.52 7.30 7.90 7.38 6.96 6.75 7.32 8.56 8.73 6.94
Medtronic PLC 5.21 5.23 5.48 5.85 5.71 5.84 5.79 5.82 5.51 5.35 5.21 5.73 6.22 4.97 5.05 5.20 4.91 5.22 5.29 5.28
UnitedHealth Group Inc. 17.27 17.23 19.23 14.88 18.22 18.37 16.27 15.65 20.07 19.60 18.53 16.35 19.86 20.63 19.62 16.73 20.32

Based on: 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), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Q4 2023 Calculation
Receivables turnover = (PremiumsQ4 2023 + PremiumsQ3 2023 + PremiumsQ2 2023 + PremiumsQ1 2023) ÷ Premium receivables
= (35,138 + 35,259 + 36,589 + 35,868) ÷ 7,902 = 18.08

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Receivables turnover An activity ratio equal to revenue divided by receivables. Elevance Health Inc. receivables turnover ratio deteriorated from Q2 2023 to Q3 2023 but then slightly improved from Q3 2023 to Q4 2023.

Payables Turnover

Elevance Health Inc., payables turnover calculation (quarterly data)

Microsoft Excel
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 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Selected Financial Data (US$ in millions)
Benefit expense 31,334 30,606 31,604 30,786 30,091 29,404 28,777 28,215 27,538 26,645 24,763 23,699 24,088 22,921 19,547 21,489 21,383 20,753 20,368 19,282
Medical claims payable 16,111 16,176 16,165 15,728 15,596 15,242 15,127 14,713 13,518 13,562 13,076 12,347 11,359 10,252 9,878 9,902 8,842 8,977 8,758 8,242
Short-term Activity Ratio
Payables turnover1 7.72 7.61 7.54 7.57 7.47 7.48 7.35 7.28 7.59 7.31 7.30 7.31 7.75 8.32 8.42 8.48 9.25
Benchmarks
Payables Turnover, Competitors2
Abbott Laboratories 4.19 4.55 4.28 4.44 4.15 4.67 4.25 4.02 4.21 4.55 4.43 3.97 3.80 4.37 4.00 4.20 4.07
Cigna Group 6.75 6.76 6.92 7.18 7.31 7.44 7.44 7.89 7.68 7.71 7.60 7.74 7.75 8.02 8.30 9.06 9.34
CVS Health Corp. 20.36 19.73 21.32 22.08 18.07 18.75 19.22 19.38 19.14 18.49 20.72 20.50 19.72 18.61 21.70 21.06 20.13
Danaher Corp. 5.58 6.45 6.35 5.93 5.45 5.61 5.00 5.04 4.48 5.20 5.54 5.29 4.79 5.46 5.28 4.55 5.23
Humana Inc. 8.63 8.26 7.84 7.78 8.17 8.07 7.61 7.63 8.35 7.76 7.81 7.32 7.57 7.20 7.12 7.90 8.97
Intuitive Surgical Inc. 12.69 11.66 11.10 12.99 13.78 12.01 12.68 14.36 14.45 14.13 13.71 14.80 18.35 12.46 13.18 10.69 11.08
Medtronic PLC 4.03 4.68 4.60 4.62 4.46 5.14 5.41 5.67 4.98 5.56 5.19 5.56 4.72 4.96 4.84 4.89 4.69 5.31 5.16 4.98
UnitedHealth Group Inc. 7.47 7.11 7.08 6.86 7.26 7.07 6.90 6.78 7.63 6.98 6.97 6.58 7.29 7.40 8.02 6.96 7.21

Based on: 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), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Q4 2023 Calculation
Payables turnover = (Benefit expenseQ4 2023 + Benefit expenseQ3 2023 + Benefit expenseQ2 2023 + Benefit expenseQ1 2023) ÷ Medical claims payable
= (31,334 + 30,606 + 31,604 + 30,786) ÷ 16,111 = 7.72

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Payables turnover An activity ratio calculated as cost of goods sold divided by payables. Elevance Health Inc. payables turnover ratio increased from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023.

Working Capital Turnover

Elevance Health Inc., working capital turnover calculation (quarterly data)

Microsoft Excel
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 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Selected Financial Data (US$ in millions)
Current assets 60,029 61,185 59,743 59,823 55,617 55,603 53,655 53,897 51,122 51,904 50,238 54,495 45,751 45,450 46,764 41,256 39,033 39,504 37,805 36,611
Less: Current liabilities 41,791 43,337 41,571 41,889 39,696 41,287 39,308 39,733 34,885 35,162 33,794 34,749 29,453 28,561 28,522 27,039 23,617 23,234 23,090 22,682
Working capital 18,238 17,848 18,172 17,934 15,921 14,316 14,347 14,164 16,237 16,742 16,444 19,746 16,298 16,889 18,242 14,217 15,416 16,270 14,715 13,929
 
Premiums 35,138 35,259 36,589 35,868 33,646 33,722 33,076 32,785 30,769 30,395 28,533 27,676 27,108 26,392 25,092 25,517 24,036 23,793 23,501 22,843
Short-term Activity Ratio
Working capital turnover1 7.83 7.92 7.69 7.60 8.37 9.11 8.85 8.65 7.23 6.79 6.67 5.38 6.39 5.98 5.40 6.81 6.11
Benchmarks
Working Capital Turnover, Competitors2
Abbott Laboratories 4.54 4.15 4.39 4.21 4.48 3.92 3.63 4.13 3.87 3.98 4.02 3.99 4.06 4.52 5.02 6.84 6.64
Cigna Group
CVS Health Corp.
Danaher Corp. 4.22 2.50 3.35 3.97 4.20 5.00 5.43 5.91 8.40 7.98 3.12 3.45 3.48 3.14 2.80 6.74 0.87
Humana Inc. 9.47 9.72 9.34 8.98 10.27 10.54 9.53 9.27 8.67 7.47 7.38 7.61 7.42 6.04 6.14 6.91 7.19
Intuitive Surgical Inc. 1.14 0.95 1.03 1.15 1.29 1.21 1.17 1.26 1.22 1.17 1.03 0.88 0.77 0.80 0.88 1.23 1.23
Medtronic PLC 2.47 2.81 2.82 3.84 2.97 2.21 2.13 2.15 2.15 2.02 2.00 2.44 2.48 2.03 2.13 2.16 2.26 2.54 2.30 2.24
UnitedHealth Group Inc.

Based on: 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), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Q4 2023 Calculation
Working capital turnover = (PremiumsQ4 2023 + PremiumsQ3 2023 + PremiumsQ2 2023 + PremiumsQ1 2023) ÷ Working capital
= (35,138 + 35,259 + 36,589 + 35,868) ÷ 18,238 = 7.83

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Working capital turnover An activity ratio calculated as revenue divided by working capital. Elevance Health Inc. working capital turnover ratio improved from Q2 2023 to Q3 2023 but then slightly deteriorated from Q3 2023 to Q4 2023.

Average Receivable Collection Period

Elevance Health Inc., average receivable collection period calculation (quarterly data)

Microsoft Excel
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 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Selected Financial Data
Receivables turnover 18.08 17.93 18.82 16.53 18.81 19.51 18.80 16.67 20.66 18.93 18.81 17.39 19.72 18.91 18.04 16.74 18.20
Short-term Activity Ratio (no. days)
Average receivable collection period1 20 20 19 22 19 19 19 22 18 19 19 21 19 19 20 22 20
Benchmarks (no. days)
Average Receivable Collection Period, Competitors2
Abbott Laboratories 60 59 56 53 52 52 58 59 55 55 55 60 68 64 60 60 62
CVS Health Corp. 36 35 32 31 31 31 32 32 31 32 32 32 30 33 31 32 28
Danaher Corp. 60 52 50 51 57 51 54 53 57 55 56 58 66 63 65 69 65
Humana Inc. 7 7 5 12 7 6 14 13 8 9 11 10 5 6 12 11 6
Intuitive Surgical Inc. 58 51 50 53 55 51 51 56 50 46 49 52 54 50 43 42 53
Medtronic PLC 70 70 67 62 64 63 63 63 66 68 70 64 59 73 72 70 74 70 69 69
UnitedHealth Group Inc. 21 21 19 25 20 20 22 23 18 19 20 22 18 18 19 22 18

Based on: 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), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Q4 2023 Calculation
Average receivable collection period = 365 ÷ Receivables turnover
= 365 ÷ 18.08 = 20

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Average receivable collection period An activity ratio equal to the number of days in the period divided by receivables turnover.

Average Payables Payment Period

Elevance Health Inc., average payables payment period calculation (quarterly data)

Microsoft Excel
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 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Selected Financial Data
Payables turnover 7.72 7.61 7.54 7.57 7.47 7.48 7.35 7.28 7.59 7.31 7.30 7.31 7.75 8.32 8.42 8.48 9.25
Short-term Activity Ratio (no. days)
Average payables payment period1 47 48 48 48 49 49 50 50 48 50 50 50 47 44 43 43 39
Benchmarks (no. days)
Average Payables Payment Period, Competitors2
Abbott Laboratories 87 80 85 82 88 78 86 91 87 80 82 92 96 83 91 87 90
Cigna Group 54 54 53 51 50 49 49 46 48 47 48 47 47 46 44 40 39
CVS Health Corp. 18 19 17 17 20 19 19 19 19 20 18 18 19 20 17 17 18
Danaher Corp. 65 57 57 62 67 65 73 72 82 70 66 69 76 67 69 80 70
Humana Inc. 42 44 47 47 45 45 48 48 44 47 47 50 48 51 51 46 41
Intuitive Surgical Inc. 29 31 33 28 26 30 29 25 25 26 27 25 20 29 28 34 33
Medtronic PLC 91 78 79 79 82 71 67 64 73 66 70 66 77 74 75 75 78 69 71 73
UnitedHealth Group Inc. 49 51 52 53 50 52 53 54 48 52 52 56 50 49 46 52 51

Based on: 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), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Q4 2023 Calculation
Average payables payment period = 365 ÷ Payables turnover
= 365 ÷ 7.72 = 47

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Average payables payment period An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period.