Elevance Health Inc (ELV)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 171,340,000 | 156,595,000 | 138,639,000 | 121,867,000 | 104,213,000 |
| Total assets | US$ in thousands | 108,928,000 | 102,755,000 | 97,456,000 | 86,615,000 | 77,453,000 |
| Total asset turnover | 1.57 | 1.52 | 1.42 | 1.41 | 1.35 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $171,340,000K ÷ $108,928,000K
= 1.57
Elevance Health Inc's total asset turnover has shown a mostly increasing trend over the past five years, indicating that the company has been more efficient in generating sales relative to its total assets. The ratio has steadily improved from 1.33 in 2019 to 1.56 in 2023. This suggests that the company is effectively utilizing its assets to generate revenue. A higher total asset turnover generally indicates better efficiency in asset utilization and a more effective management of resources to drive sales. Overall, the increasing trend in Elevance Health Inc's total asset turnover reflects positively on the company's operational efficiency and effectiveness in generating sales from its asset base.
Peer comparison
Dec 31, 2023