Elevance Health (ELV) FY2011 results: revenue $60.7 billion, up 3.2% on the year
Elevance Health, Inc. (ELV) reported revenue of $60.7 billion for fiscal 2011, the year ended 31 December 2011, up 3.2% on the year before. Net income was $2.6 billion, down 8.3%, and diluted earnings per share $7.25. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2012.
Revenue
$60.7 billion
+3.2% on the year
FY2007FY2011
Operating margin
6.2%
6.9% a year earlier
FY2007FY2011
Net income
$2.6 billion
-8.3% on the year
FY2007FY2011
Diluted EPS
$7.25
+4.5% on the year
FY2007FY2011
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Revenue
60,711
58,802
65,028
+3.2%
Cost of revenue
0.0
0.0
419
Gross profit
60,711
58,802
64,609
+3.2%
Gross margin
100.0%
100.0%
99.4%
Selling, general and administrative
8,436
8,733
9,019
-3.4%
Operating income
3,782
4,078
4,179
-7.2%
Operating margin
6.2%
6.9%
6.4%
Interest expense
430
419
447
+2.7%
Pre-tax income
3,958
4,354
7,403
-9.1%
Income tax
1,311
1,467
2,657
-10.6%
Effective tax rate
33.1%
33.7%
35.9%
Net income
2,647
2,887
4,746
-8.3%
Net margin
4.4%
4.9%
7.3%
Diluted EPS
$7.25
$6.94
$9.88
+4.5%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Operating cash flow
3,374
1,417
3,039
+138.2%
Capital expenditure
520
451
378
+15.1%
Free cash flow
2,855
965
2,660
+195.8%
Free cash flow margin
4.7%
1.6%
4.1%
Cash from investing
-942
-1,272
3,003
Cash from financing
-2,019
-3,169
-3,403
Depreciation and amortisation
335
345
373
-2.8%
Share-based compensation
135
136
154
-0.9%
Buybacks
3,040
4,360
2,638
-30.3%
Dividends paid
358
0.0
n/a
Dividend per share
$1.00
$0.00
n/a
Diluted shares, weighted
365m
416m
480m
-12.2%
Shares outstanding at period end
339m
378m
450m
-10.2%
Balance sheet
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Shareholders' equity
23,288
23,813
24,863
-2.2%
Short-term borrowings
n/a
n/a
0.0
Debt
9,840
8,954
8,399
+9.9%
Other liabilities
19,035
17,401
18,863
+9.4%
Total liabilities and equity
52,163
50,167
52,125
+4.0%
Fixed assets
1,418
1,156
1,100
+22.7%
Goodwill
13,859
13,265
13,265
+4.5%
Intangible assets
7,932
7,997
8,259
-0.8%
Investments
16,160
16,291
15,927
-0.8%
Cash and equivalents
2,202
1,789
4,816
+23.1%
Other assets
10,593
9,670
8,758
+9.6%
Total assets
52,163
50,167
52,125
+4.0%
10-K for the year ended 31 December 2011, filed 22 February 2012: the filing.