Elevance Health (ELV) FY2023 results: revenue $171.3 billion, up 9.4% on the year
Elevance Health, Inc. (ELV) reported revenue of $171.3 billion for fiscal 2023, the year ended 31 December 2023, up 9.4% on the year before. Net income was $6.0 billion, up 1.6%, and diluted earnings per share $25.22. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2024.
Revenue
$171.3 billion
+9.4% on the year
FY2016FY2023
Operating margin
5.0%
5.3% a year earlier
FY2016FY2023
Net income
$6.0 billion
+1.6% on the year
FY2016FY2023
Diluted EPS
$25.22
+3.9% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ 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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
8,061
8,399
8,364
-4.0%
Capital expenditure
1,296
1,152
1,087
+12.5%
Free cash flow
6,765
7,247
7,277
-6.7%
Free cash flow margin
3.9%
4.6%
5.2%
Cash from investing
-5,572
-4,560
-9,638
Cash from financing
-3,349
-1,318
423
Depreciation and amortisation
1,745
1,675
1,302
+4.2%
Share-based compensation
289
264
255
+9.5%
Buybacks
2,676
2,316
1,900
+15.5%
Dividends paid
1,395
1,229
1,104
+13.5%
Dividend per share
$5.92
$5.12
$4.52
+15.6%
Diluted shares, weighted
237m
243m
247m
-2.2%
Shares outstanding at period end
233m
238m
242m
-2.1%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
39,306
36,307
36,060
+8.3%
Non-controlling interest
99.0
87.0
68.0
+13.8%
Debt
25,120
24,114
23,031
+4.2%
Operating lease liabilities
685
751
864
-8.8%
Other liabilities
43,718
41,513
37,437
+5.3%
Total liabilities and equity
108,928
102,772
97,460
+6.0%
Fixed assets
4,359
4,316
3,919
+1.0%
Goodwill
25,317
24,383
24,228
+3.8%
Intangible assets
10,273
10,315
10,615
-0.4%
Investments
30,490
26,704
26,899
+14.2%
Cash and equivalents
6,526
7,387
4,880
-11.7%
Other assets
31,963
29,667
26,919
+7.7%
Total assets
108,928
102,772
97,460
+6.0%
10-K for the year ended 31 December 2023, filed 21 February 2024: the filing.