Elevance Health Inc (ELV)

Debt-to-assets ratio

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Long-term debt	US$ in thousands	23,246,000	22,349,000	21,157,000	19,335,000	17,787,000
Total assets	US$ in thousands	108,928,000	102,755,000	97,456,000	86,615,000	77,453,000
Debt-to-assets ratio		0.21	0.22	0.22	0.22	0.23

December 31, 2023 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $23,246,000K ÷ $108,928,000K
= 0.21

Based on the data provided, Elevance Health Inc's debt-to-assets ratio has been relatively stable over the past five years, ranging from 0.23 to 0.26. The ratio indicates that the company has maintained a conservative level of debt relative to its total assets during this period.

A debt-to-assets ratio of less than 1 typically suggests that the company has more assets than debt, indicating a lower level of financial risk. Elevance Health Inc's ratios falling between 0.23 and 0.26 are within a reasonable range and indicate that a significant portion of the company's assets are funded by equity rather than debt.

The consistency in the debt-to-assets ratio implies that Elevance Health Inc has been managing its debt levels prudently and has not significantly altered its capital structure over the five-year period. This stability can provide a sense of financial strength and sustainability to investors and creditors.

Overall, the trend in Elevance Health Inc's debt-to-assets ratio suggests a cautious approach to leveraging, which may be beneficial in maintaining financial stability and protecting against potential economic downturns or adverse events.