Elevance Health (ELV) FY2018 results: revenue $92.1 billion, up 2.3% on the year
Elevance Health, Inc. (ELV) reported revenue of $92.1 billion for fiscal 2018, the year ended 31 December 2018, up 2.3% on the year before. Net income was $3.8 billion, down 2.4%, and diluted earnings per share $14.19. The figures are the company's own, from the 10-K it filed with the SEC on 20 February 2019.
Revenue
$92.1 billion
+2.3% on the year
FY2011FY2018
Operating margin
5.9%
4.6% a year earlier
FY2011FY2018
Net income
$3.8 billion
-2.4% on the year
FY2011FY2018
Diluted EPS
$14.19
-1.1% on the year
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
92,105
90,039
84,863
+2.3%
Cost of revenue
0.0
0.0
n/a
Gross profit
92,105
90,039
n/a
+2.3%
Gross margin
100.0%
100.0%
n/a
Selling, general and administrative
14,020
12,650
12,558
+10.8%
Operating income
5,426
4,175
4,802
+30.0%
Operating margin
5.9%
4.6%
5.7%
Interest expense
753
739
723
+1.9%
Pre-tax income
5,068
3,964
4,555
+27.9%
Income tax
1,318
121
2,086
+989.3%
Effective tax rate
26.0%
3.1%
45.8%
Net income
3,750
3,843
2,470
-2.4%
Net margin
4.1%
4.3%
2.9%
Diluted EPS
$14.19
$14.35
$9.21
-1.1%
$ 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
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
3,827
4,185
3,270
-8.5%
Capital expenditure
1,208
791
584
+52.7%
Free cash flow
2,619
3,394
2,686
-22.8%
Free cash flow margin
2.8%
3.8%
3.2%
Cash from investing
-1,259
-5,082
-514
Cash from financing
-2,241
427
-799
Depreciation and amortisation
1,132
280
296
+304.3%
Share-based compensation
226
170
165
+32.9%
Buybacks
1,685
1,998
0.0
-15.7%
Dividends paid
776
705
684
+10.1%
Dividend per share
$3.00
$2.70
$2.60
+11.1%
Diluted shares, weighted
264m
268m
268m
-1.3%
Shares outstanding at period end
257m
256m
264m
+0.5%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
28,541
26,503
25,100
+7.7%
Non-controlling interest
26.0
n/a
n/a
Debt
19,211
19,932
15,727
-3.6%
Other liabilities
23,793
24,105
24,256
-1.3%
Total liabilities and equity
71,571
70,540
65,083
+1.5%
Fixed assets
2,735
2,175
1,978
+25.8%
Goodwill
20,504
19,231
17,561
+6.6%
Intangible assets
9,007
8,368
7,965
+7.6%
Investments
17,179
17,938
17,688
-4.2%
Cash and equivalents
3,934
3,609
4,075
+9.0%
Other assets
18,212
19,218
15,816
-5.2%
Total assets
71,571
70,540
65,083
+1.5%
10-K for the year ended 31 December 2018, filed 20 February 2019: the filing.