Stock Analysis on Net

Elevance Health Inc. (NYSE:ELV)

Common Stock Valuation Ratios (Price Multiples) 

Microsoft Excel

Current Valuation Ratios

Elevance Health Inc., current price multiples

Microsoft Excel
Elevance Health Inc. Abbott Laboratories CVS Health Corp. Intuitive Surgical Inc. Medtronic PLC UnitedHealth Group Inc. Health Care Equipment & Services Health Care
Selected Financial Data
Current share price (P) $375.91
No. shares of common stock outstanding 225,934,600
Growth rate (g) 12.09%
 
Earnings per share (EPS) $26.47
Next year expected EPS $29.67
Operating profit per share $32.23
Sales per share $775.46
Book value per share (BVPS) $182.86
Valuation Ratios (Price Multiples)
Price to earnings (P/E) 14.20 17.19 18.33 78.62 29.91 19.35 21.87 33.12
Price to next year expected earnings 12.67 15.64 17.54 69.57 29.37 16.82 20.04 30.57
Price-earnings-growth (PEG) 1.17 1.73 4.11 6.04 16.31 1.29 2.40 3.98
Price to operating profit (P/OP) 11.66 33.75 9.93 77.74 21.37 8.63 15.56 23.13
Price to sales (P/S) 0.48 5.49 0.23 21.86 3.40 0.71 0.95 2.32
Price to book value (P/BV) 2.06 4.83 1.12 11.11 2.19 3.01 3.00 4.88

Based on: 10-K (reporting date: 2024-12-31).

If the company price multiple is lower then the price multiple of benchmark then company stock is relatively undervalued.
Otherwise, if the company price multiple is higher then the price multiple of benchmark then company stock is relatively overvalued.


Historical Valuation Ratios (Summary)

Elevance Health Inc., historical price multiples

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Price to earnings (P/E) 14.85 19.80 19.20 18.13 15.87
Price to operating profit (P/OP) 12.19 15.57 15.05 15.70 12.10
Price to sales (P/S) 0.51 0.70 0.74 0.81 0.60
Price to book value (P/BV) 2.15 3.02 3.19 3.07 2.19

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).

Valuation ratio Description The company
P/E ratio The P/E ratio tells analyst how much an investor in common stock pays per dollar of current earnings. Elevance Health Inc. P/E ratio increased from 2022 to 2023 but then decreased significantly from 2023 to 2024.
P/OP ratio Because P/E ratio is calculated using net income, the ratio can be sensitive to nonrecurring earnings and capital structure, analysts may use price to operating profit. Elevance Health Inc. P/OP ratio increased from 2022 to 2023 but then decreased significantly from 2023 to 2024.
P/S ratio An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative. Elevance Health Inc. P/S ratio decreased from 2022 to 2023 and from 2023 to 2024.
P/BV ratio The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company required rate of return and its actual rate of return. Elevance Health Inc. P/BV ratio decreased from 2022 to 2023 and from 2023 to 2024.

Price to Earnings (P/E)

Elevance Health Inc., historical P/E calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
No. shares of common stock outstanding1 227,351,871 232,668,735 237,457,776 241,304,369 244,905,689
Selected Financial Data (US$)
Shareholders’ net income (in millions) 5,980 5,987 6,025 6,104 4,572
Earnings per share (EPS)2 26.30 25.73 25.37 25.30 18.67
Share price1, 3 390.50 509.38 487.13 458.58 296.33
Valuation Ratio
P/E ratio4 14.85 19.80 19.20 18.13 15.87
Benchmarks
P/E Ratio, Competitors5
Abbott Laboratories 17.46 34.57 26.76 29.13 48.49
CVS Health Corp. 17.28 11.47 27.53 17.39 12.88
Intuitive Surgical Inc. 87.82 74.11 64.99 59.94 87.47
Medtronic PLC 27.97 30.94 23.38 46.56 26.30
UnitedHealth Group Inc. 29.75 20.53 22.46 26.03 20.54
P/E Ratio, Sector
Health Care Equipment & Services 25.63 23.36 24.57 26.88 24.48
P/E Ratio, Industry
Health Care 37.14 29.43 21.38 21.35 30.75

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).

1 Data adjusted for splits and stock dividends.

2 2024 Calculation
EPS = Shareholders’ net income ÷ No. shares of common stock outstanding
= 5,980,000,000 ÷ 227,351,871 = 26.30

3 Closing price as at the filing date of Elevance Health Inc. Annual Report.

4 2024 Calculation
P/E ratio = Share price ÷ EPS
= 390.50 ÷ 26.30 = 14.85

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/E ratio The P/E ratio tells analyst how much an investor in common stock pays per dollar of current earnings. Elevance Health Inc. P/E ratio increased from 2022 to 2023 but then decreased significantly from 2023 to 2024.

Price to Operating Profit (P/OP)

Elevance Health Inc., historical P/OP calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
No. shares of common stock outstanding1 227,351,871 232,668,735 237,457,776 241,304,369 244,905,689
Selected Financial Data (US$)
Operating income (in millions) 7,282 7,614 7,685 7,048 5,999
Operating profit per share2 32.03 32.72 32.36 29.21 24.50
Share price1, 3 390.50 509.38 487.13 458.58 296.33
Valuation Ratio
P/OP ratio4 12.19 15.57 15.05 15.70 12.10
Benchmarks
P/OP Ratio, Competitors5
Abbott Laboratories 34.28 30.54 22.18 24.45 40.69
CVS Health Corp. 9.36 6.96 14.75 10.43 6.65
Intuitive Surgical Inc. 86.83 75.42 54.49 56.11 88.37
Medtronic PLC 19.98 21.20 20.48 37.44 26.29
UnitedHealth Group Inc. 13.27 14.20 15.89 18.77 14.12
P/OP Ratio, Sector
Health Care Equipment & Services 18.23 16.62 17.98 19.92 17.16
P/OP Ratio, Industry
Health Care 25.94 25.66 16.51 17.67 22.32

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).

1 Data adjusted for splits and stock dividends.

2 2024 Calculation
Operating profit per share = Operating income ÷ No. shares of common stock outstanding
= 7,282,000,000 ÷ 227,351,871 = 32.03

3 Closing price as at the filing date of Elevance Health Inc. Annual Report.

4 2024 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= 390.50 ÷ 32.03 = 12.19

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/OP ratio Because P/E ratio is calculated using net income, the ratio can be sensitive to nonrecurring earnings and capital structure, analysts may use price to operating profit. Elevance Health Inc. P/OP ratio increased from 2022 to 2023 but then decreased significantly from 2023 to 2024.

Price to Sales (P/S)

Elevance Health Inc., historical P/S calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
No. shares of common stock outstanding1 227,351,871 232,668,735 237,457,776 241,304,369 244,905,689
Selected Financial Data (US$)
Operating revenue (in millions) 175,204 170,209 155,660 136,943 120,808
Sales per share2 770.63 731.55 655.53 567.51 493.28
Share price1, 3 390.50 509.38 487.13 458.58 296.33
Valuation Ratio
P/S ratio4 0.51 0.70 0.74 0.81 0.60
Benchmarks
P/S Ratio, Competitors5
Abbott Laboratories 5.58 4.93 4.25 4.78 6.30
CVS Health Corp. 0.22 0.27 0.36 0.47 0.35
Intuitive Surgical Inc. 24.42 18.71 13.81 17.89 21.29
Medtronic PLC 3.18 3.72 3.72 5.57 4.36
UnitedHealth Group Inc. 1.08 1.25 1.40 1.58 1.24
P/S Ratio, Sector
Health Care Equipment & Services 1.11 1.15 1.22 1.48 1.29
P/S Ratio, Industry
Health Care 2.61 2.72 2.48 2.65 2.59

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).

1 Data adjusted for splits and stock dividends.

2 2024 Calculation
Sales per share = Operating revenue ÷ No. shares of common stock outstanding
= 175,204,000,000 ÷ 227,351,871 = 770.63

3 Closing price as at the filing date of Elevance Health Inc. Annual Report.

4 2024 Calculation
P/S ratio = Share price ÷ Sales per share
= 390.50 ÷ 770.63 = 0.51

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/S ratio An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative. Elevance Health Inc. P/S ratio decreased from 2022 to 2023 and from 2023 to 2024.

Price to Book Value (P/BV)

Elevance Health Inc., historical P/BV calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
No. shares of common stock outstanding1 227,351,871 232,668,735 237,457,776 241,304,369 244,905,689
Selected Financial Data (US$)
Shareholders’ equity (in millions) 41,315 39,306 36,307 36,060 33,199
Book value per share (BVPS)2 181.72 168.94 152.90 149.44 135.56
Share price1, 3 390.50 509.38 487.13 458.58 296.33
Valuation Ratio
P/BV ratio4 2.15 3.02 3.19 3.07 2.19
Benchmarks
P/BV Ratio, Competitors5
Abbott Laboratories 4.91 5.12 5.06 5.75 6.65
CVS Health Corp. 1.05 1.25 1.61 1.83 1.33
Intuitive Surgical Inc. 12.41 10.01 7.78 8.59 9.53
Medtronic PLC 2.05 2.26 2.24 3.26 2.48
UnitedHealth Group Inc. 4.63 5.18 5.81 6.27 4.83
P/BV Ratio, Sector
Health Care Equipment & Services 3.51 3.64 3.75 4.16 3.51
P/BV Ratio, Industry
Health Care 5.48 5.44 4.90 5.07 4.90

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).

1 Data adjusted for splits and stock dividends.

2 2024 Calculation
BVPS = Shareholders’ equity ÷ No. shares of common stock outstanding
= 41,315,000,000 ÷ 227,351,871 = 181.72

3 Closing price as at the filing date of Elevance Health Inc. Annual Report.

4 2024 Calculation
P/BV ratio = Share price ÷ BVPS
= 390.50 ÷ 181.72 = 2.15

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/BV ratio The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company required rate of return and its actual rate of return. Elevance Health Inc. P/BV ratio decreased from 2022 to 2023 and from 2023 to 2024.