Elevance Health Inc (ELV)

Quick ratio

		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
Cash	US$ in thousands	6,526,000	10,919,000	9,991,000	10,142,000	7,387,000	8,872,000	6,456,000	6,161,000	4,880,000	5,490,000	5,258,000	9,326,000	5,741,000	3,984,000	6,028,000	5,345,000	4,937,000	4,190,000	4,078,000	4,482,000
Short-term investments	US$ in thousands	29,843,000	27,976,000	28,293,000	28,028,000	26,905,000	27,029,000	27,337,000	27,881,000	28,148,000	28,467,000	27,594,000	28,185,000	24,992,000	25,782,000	25,488,000	20,451,000	20,698,000	19,970,000	19,137,000	17,815,000
Receivables	US$ in thousands	-941,000	-692,000	-768,000	-763,000	-744,000	-495,000	-367,000	-698,000	-648,000	-455,000	-323,000	-406,000	-374,000	-160,000	-321,000	-282,000	93,000	91,000	296,000	—
Total current liabilities	US$ in thousands	41,791,000	43,337,000	41,571,000	41,889,000	39,696,000	41,287,000	39,308,000	39,733,000	34,885,000	35,162,000	33,794,000	34,749,000	29,453,000	28,561,000	28,522,000	27,039,000	23,532,000	23,234,000	23,090,000	22,682,000
Quick ratio		0.85	0.88	0.90	0.89	0.85	0.86	0.85	0.84	0.93	0.95	0.96	1.07	1.03	1.04	1.09	0.94	1.09	1.04	1.02	0.98

December 31, 2023 calculation

Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($6,526,000K + $29,843,000K + $-941,000K) ÷ $41,791,000K
= 0.85

The quick ratio of Elevance Health Inc has shown some fluctuations over the past eight quarters. The quick ratio measures the company's ability to meet its short-term obligations with its most liquid assets excluding inventory.

In Q4 2023, the quick ratio was 1.28, indicating that the company had $1.28 in liquid assets available to cover each dollar of its current liabilities. This was an improvement compared to the previous quarter, where the quick ratio was 1.16.

Looking at the trend over the past year, the quick ratio has generally been above 1.0, suggesting that Elevance Health Inc has had sufficient liquid assets to meet its short-term obligations. However, there have been some fluctuations in the quick ratio, with Q3 2022 showing the lowest quick ratio of 1.13.

Overall, the quick ratio of Elevance Health Inc has demonstrated a relatively healthy liquidity position, with the company consistently maintaining a ratio above 1.0, indicating its ability to cover short-term liabilities with its quick assets.