Elevance Health Inc (ELV)
Debt-to-capital 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 stockholders’ equity | US$ in thousands | 39,306,000 | 36,243,000 | 36,095,000 | 33,199,000 | 31,728,000 |
| Debt-to-capital ratio | 0.37 | 0.38 | 0.37 | 0.37 | 0.36 |
December 31, 2023 calculation
Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $23,246,000K ÷ ($23,246,000K + $39,306,000K)
= 0.37
The debt-to-capital ratio of Elevance Health Inc has remained relatively stable over the past five years, ranging between 0.38 and 0.40. This indicates that the company's reliance on debt to finance its operations relative to its overall capital structure has been consistent. With the ratio consistently below 0.50, it suggests that Elevance Health Inc is not heavily leveraged and has a balanced mix of debt and equity in its capital structure. Investors and creditors may view this as a positive sign of financial stability and prudent debt management by the company.
Peer comparison
Dec 31, 2023