Elevance Health, Inc（ELV）の決算・業績分析
Elevance Health, Incの2025年有価証券報告書をAI分析。売上高$199.1B(+12.5%)。営業利益$7.2B。Financials。
目次
Elevance Health, Incの2025年度 業績サマリー
Elevance Health, Inc（証券コード: ELV）の2025年度決算・業績分析。売上高は$199.1B（前年比+12.5%）。営業利益は$7.2B（前年比-8.4%）。純利益は$5.7B（前年比-5.3%）。有価証券報告書を基に、業績変化の要因・リスク・見通し・セグメント構成を AI が分析しました。
Elevance Health, Incの2024年度 注目ポイント
※ 直近の2025年度XBRLデータは取込済みですが、AI分析は2024年度の10-Kを対象としています。
- Revenue grew 13.0% YoY to $156.6B (XBRL), driven by expansion in managed care and pharmacy services.
- Operating income increased 9.6% YoY to $8.3B (XBRL), but net income declined 4.3% YoY to $5.9B (XBRL).
- Free cash flow (FCF) reached $7.2B (XBRL), with $2.3B allocated to share repurchases (XBRL).
- ROE of 15.0% (XBRL) reflects strong returns despite a net debt-to-EBITDA ratio of 2.0x (XBRL).
Elevance Health, Incの売上高変化の要因
- •Revenue grew 13.0% YoY to $156.6B (XBRL), with a 5-year CAGR of 13.2% (XBRL). Operating income increased 9.6% YoY to $8.3B (XBRL), reflecting efficiency gains. However, net income declined 4.3% YoY to $5.9B (XBRL), likely due to higher expenses or non-operating items. The 5-year net income CAGR is 9.8% (XBRL), indicating long-term growth despite the FY2024 dip.
Elevance Health, Incの営業利益変化の要因
- •Operating margin improved to 5.3% (XBRL) (+0.3% YoY), while net margin declined to 3.8% (XBRL) (-0.6% YoY). EBITDA of $8.4B (XBRL) represents 5.4% of revenue (XBRL). The decline in net income may stem from increased costs or tax expenses, though specific drivers are not quantified in the data (XBRL).
Elevance Health, Incの事業リスクと対応
Inability to predict/price healthcare costs could reduce profitability (10-K).
Public Exchange market volatility and premium rate assumptions may lead to financial losses (10-K).
Pharmaceutical cost increases due to regulatory changes or pricing pressures (10-K).
Expiration of enhanced PTCs in 2025 could impact Medicaid plan profitability (10-K).
Failure to integrate value-based care models may harm financial performance (10-K).
State/federal mandates affecting pharmaceutical pricing (10-K).
Geopolitical instability impacting healthcare utilization (10-K).
Elevance Health, Incの事業内容
Elevance Health operates as a leading health insurer, generating revenue through premiums, administrative fees, and specialty services like pharmacy and dental benefits (10-K). Key segments include Health Benefits (managed care insurance), CarelonRx (pharmacy services), Carelon Services (dental, vision, wellness), and Corporate & Other (unallocated expenses) (10-K). Competitive advantages include local presence, integrated whole-health models, and innovation in value-based care (10-K). No significant customer concentration is reported (10-K).
Elevance Health, IncのAI業績分析レポート（2024年度）
Elevance Health, Inc. (ELV) FY2024 Annual Report Analysis
Highlights
Business Overview
Elevance Health operates as a leading health insurer, generating revenue through premiums, administrative fees, and specialty services like pharmacy and dental benefits (10-K). Key segments include Health Benefits (managed care insurance), CarelonRx (pharmacy services), Carelon Services (dental, vision, wellness), and Corporate & Other (unallocated expenses) (10-K). Competitive advantages include local presence, integrated whole-health models, and innovation in value-based care (10-K). No significant customer concentration is reported (10-K).
Revenue Analysis
Revenue grew 13.0% YoY to $156.6B (XBRL), with a 5-year CAGR of 13.2% (XBRL). Operating income increased 9.6% YoY to $8.3B (XBRL), reflecting efficiency gains. However, net income declined 4.3% YoY to $5.9B (XBRL), likely due to higher expenses or non-operating items. The 5-year net income CAGR is 9.8% (XBRL), indicating long-term growth despite the FY2024 dip.
Profitability Analysis
Operating margin improved to 5.3% (XBRL) (+0.3% YoY), while net margin declined to 3.8% (XBRL) (-0.6% YoY). EBITDA of $8.4B (XBRL) represents 5.4% of revenue (XBRL). The decline in net income may stem from increased costs or tax expenses, though specific drivers are not quantified in the data (XBRL).
Balance Sheet Analysis
Total assets rose to $108.9B (XBRL), with equity at $39.3B (XBRL) (36.1% equity ratio, XBRL). Long-term debt is $23.2B (XBRL), resulting in a net debt-to-EBITDA ratio of 2.0x (XBRL). Current ratio of 1.44x (XBRL) indicates moderate liquidity. Cash reserves stand at $6.5B (XBRL).
Cash Flow Analysis
Operating cash flow (OCF) totaled $8.4B (XBRL), with FCF of $7.2B (XBRL) after $1.2B in CapEx (XBRL). Investing cash flow was -$4.6B (XBRL), likely due to capital investments. Financing cash flow was -$1.3B (XBRL), driven by $1.2B in dividends (XBRL) and $2.3B in share repurchases (XBRL).
Working Capital Analysis
N/A
Risks
Outlook
N/A. No explicit forward-looking guidance is provided in the 10-K or XBRL data.
Historical Time Series
| Metric | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|
| Revenue | 92.1B | 104.2B | 121.9B | 138.6B | 156.6B | 171.3B |
| Operating Income | 5.4B | 6.0B | 6.4B | 7.6B | 8.3B | 8.5B |
| Net Income | 3.8B | 4.8B | 4.6B | 6.2B | 5.9B | 6.0B |
| Total Assets | 77.5B | 86.6B | 97.5B | 102.8B | 108.9B | 116.9B |
| Total Equity | 26.5B | 33.2B | 36.1B | 36.2B | 39.3B | 41.3B |
| Operating Cash Flow | 3.8B | 6.1B | 10.7B | 8.4B | 8.4B | 8.1B |
Financialsの企業一覧
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