Elevance Health Inc (ELV)

Debt-to-capital 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
Long-term debt	US$ in thousands	23,246,000	24,045,000	24,859,000	25,201,000	22,349,000	21,258,000	21,165,000	19,883,000	21,157,000	21,761,000	22,217,000	22,534,000	19,335,000	19,094,000	19,873,000	19,005,000	17,787,000	18,820,000	17,436,000	17,396,000
Total stockholders’ equity	US$ in thousands	39,306,000	38,423,000	38,205,000	37,356,000	36,243,000	36,055,000	35,812,000	35,975,000	36,095,000	35,808,000	34,968,000	33,853,000	33,199,000	33,921,000	34,455,000	31,693,000	31,728,000	31,332,000	30,793,000	29,998,000
Debt-to-capital ratio		0.37	0.38	0.39	0.40	0.38	0.37	0.37	0.36	0.37	0.38	0.39	0.40	0.37	0.36	0.37	0.37	0.36	0.38	0.36	0.37

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 eight quarters, ranging from 0.39 to 0.41. This ratio indicates that, on average, approximately 39% to 41% of the company's capital structure is funded by debt.

A debt-to-capital ratio below 50% typically suggests that the company relies more on equity financing rather than debt to fund its operations and growth. Elevance Health Inc's consistent ratio within the 0.39 to 0.41 range indicates a balanced capital structure, where debt plays a moderate role in the company's overall financing.

A stable debt-to-capital ratio can signify financial stability and a manageable level of leverage for the company. However, it is essential for Elevance Health Inc to continue monitoring and managing its debt levels to ensure sustainable growth and financial health in the long term.