Elevance Health Inc (ELV)
Debt-to-equity 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-equity ratio | 0.59 | 0.62 | 0.59 | 0.58 | 0.56 |
December 31, 2023 calculation
Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $23,246,000K ÷ $39,306,000K
= 0.59
Elevance Health Inc's debt-to-equity ratio has been relatively stable over the last five years, ranging from 0.60 to 0.66. This indicates that the company has been financing its operations with a combination of debt and equity in a consistent manner. The decreasing trend from 2020 to 2023 suggests that the company may be gradually reducing its reliance on debt to fund its operations, which could result in lower financial risk and interest expenses. However, the ratio still remains above 0.50, indicating that the company has a higher proportion of debt compared to equity in its capital structure. Overall, Elevance Health Inc's debt-to-equity ratio reflects a moderate level of leverage and a balanced approach to financing its operations.
Peer comparison
Dec 31, 2023