Elevance Health (ELV) FY2013 results: revenue $71.0 billion, up 15.5% on the year
Elevance Health, Inc. (ELV) reported revenue of $71.0 billion for fiscal 2013, the year ended 31 December 2013, up 15.5% on the year before. Net income was $2.5 billion, down 6.2%, and diluted earnings per share $8.20. The figures are the company's own, from the 10-K it filed with the SEC on 20 February 2014.
Revenue
$71.0 billion
+15.5% on the year
FY2007FY2013
Operating margin
5.6%
5.9% a year earlier
FY2007FY2013
Net income
$2.5 billion
-6.2% on the year
FY2007FY2013
Diluted EPS
$8.20
+0.2% on the year
FY2007FY2013
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Revenue
71,024
61,497
60,711
+15.5%
Cost of revenue
n/a
137
0.0
Gross profit
n/a
n/a
60,711
Gross margin
n/a
n/a
100.0%
Selling, general and administrative
9,953
8,680
8,436
+14.7%
Operating income
4,001
3,620
3,782
+10.5%
Operating margin
5.6%
5.9%
6.2%
Interest expense
603
512
430
+17.8%
Pre-tax income
3,840
3,858
3,958
-0.5%
Income tax
1,206
1,207
1,311
-0.1%
Effective tax rate
31.4%
31.3%
33.1%
Net income
2,490
2,656
2,647
-6.2%
Net margin
3.5%
4.3%
4.4%
Diluted EPS
$8.20
$8.18
$7.25
+0.2%
$ 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
FY2013
FY2012
FY2011
On the year
Last 8 years
Operating cash flow
3,052
2,745
3,374
+11.2%
Capital expenditure
646
545
520
+18.6%
Free cash flow
2,406
2,200
2,855
+9.4%
Free cash flow margin
3.4%
3.6%
4.7%
Cash from investing
-2,234
-4,552
-942
Cash from financing
-1,718
2,089
-2,019
Depreciation and amortisation
353
340
335
+3.9%
Share-based compensation
146
146
135
-0.3%
Buybacks
1,620
2,497
3,040
-35.1%
Dividends paid
448
367
358
+22.0%
Dividend per share
$1.50
$1.15
$1.00
+30.4%
Diluted shares, weighted
304m
325m
365m
-6.5%
Shares outstanding at period end
293m
305m
339m
-3.8%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
24,765
23,803
23,288
+4.0%
Debt
14,492
14,978
9,840
-3.2%
Other liabilities
20,318
20,175
19,035
+0.7%
Total liabilities and equity
59,574
58,955
52,163
+1.1%
Fixed assets
1,802
1,717
1,418
+4.9%
Goodwill
16,917
16,890
13,859
+0.2%
Intangible assets
8,441
8,666
7,932
-2.6%
Investments
17,488
17,344
16,160
+0.8%
Cash and equivalents
1,582
2,475
2,202
-36.1%
Other assets
13,345
11,863
10,593
+12.5%
Total assets
59,574
58,955
52,163
+1.1%
10-K for the year ended 31 December 2013, filed 20 February 2014: the filing.