Elevance Net Profit Margin vs Pretax Profit Margin Analysis
ELV Stock | USD 536.25 1.06 0.20% |
Elevance Health financial indicator trend analysis is much more than just examining Elevance Health latest accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether Elevance Health is a good investment. Please check the relationship between Elevance Health Net Profit Margin and its Pretax Profit Margin accounts. Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Elevance Health. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis. For more information on how to buy Elevance Stock please use our How to Invest in Elevance Health guide.
Net Profit Margin vs Pretax Profit Margin
Net Profit Margin vs Pretax Profit Margin Correlation Analysis
The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of Elevance Health Net Profit Margin account and Pretax Profit Margin. At this time, the significance of the direction appears to have almost no relationship.
The correlation between Elevance Health's Net Profit Margin and Pretax Profit Margin is 0.15. Overlapping area represents the amount of variation of Net Profit Margin that can explain the historical movement of Pretax Profit Margin in the same time period over historical financial statements of Elevance Health, assuming nothing else is changed. The correlation between historical values of Elevance Health's Net Profit Margin and Pretax Profit Margin is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Net Profit Margin of Elevance Health are associated (or correlated) with its Pretax Profit Margin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Pretax Profit Margin has no effect on the direction of Net Profit Margin i.e., Elevance Health's Net Profit Margin and Pretax Profit Margin go up and down completely randomly.
Correlation Coefficient | 0.15 |
Relationship Direction | Positive |
Relationship Strength | Insignificant |
Net Profit Margin
The percentage of revenue left after all expenses have been deducted from sales. The measure is calculated by dividing net profit by revenue.Pretax Profit Margin
Most indicators from Elevance Health's fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into Elevance Health current financial condition. On the other hand, looking into the entire matrix of fundamental ratios indicators, and analyzing their relationships over time can provide a more complete picture of the company financial strength now and in the future. Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Elevance Health. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis. For more information on how to buy Elevance Stock please use our How to Invest in Elevance Health guide.At this time, Elevance Health's Discontinued Operations is fairly stable compared to the past year. Sales General And Administrative To Revenue is likely to climb to 0.15 in 2024, whereas Selling General Administrative is likely to drop slightly above 8.6 B in 2024.
2021 | 2022 | 2023 | 2024 (projected) | Gross Profit | 127.7B | 143.6B | 154.0B | 161.7B | Total Revenue | 138.6B | 156.6B | 171.3B | 179.9B |
Elevance Health fundamental ratios Correlations
Click cells to compare fundamentals
Elevance Health Account Relationship Matchups
High Positive Relationship
High Negative Relationship
Elevance Health fundamental ratios Accounts
2019 | 2020 | 2021 | 2022 | 2023 | 2024 (projected) | ||
Total Assets | 77.5B | 86.6B | 97.3B | 102.8B | 108.9B | 57.8B | |
Short Long Term Debt Total | 20.1B | 20.0B | 23.0B | 24.1B | 25.1B | 12.6B | |
Total Stockholder Equity | 31.7B | 33.2B | 36.1B | 36.3B | 39.3B | 23.6B | |
Net Debt | 15.1B | 14.3B | 18.2B | 16.7B | 18.6B | 9.6B | |
Other Assets | (11.3B) | (13.7B) | (14.8B) | 1.9B | 1.7B | 1.8B | |
Liabilities And Stockholders Equity | 77.5B | 86.6B | 97.3B | 102.8B | 108.9B | 57.8B | |
Non Current Liabilities Total | 20.0B | 21.4B | 23.8B | 26.7B | 27.7B | 14.1B | |
Other Stockholder Equity | 9.4B | 9.2B | 9.1B | 9.1B | 8.9B | 11.1B | |
Total Liab | 45.7B | 53.4B | 61.2B | 66.4B | 69.5B | 73.0B | |
Other Current Liab | (16.4B) | (18.8B) | (21.5B) | 16.2B | 15.5B | 16.3B | |
Total Current Liabilities | 16.4B | 18.8B | 21.5B | 39.7B | 41.8B | 43.9B | |
Other Liab | 3.8B | 4.6B | 5.1B | 3.6B | 4.1B | 3.9B | |
Retained Earnings | 22.6B | 23.8B | 27.1B | 29.7B | 31.7B | 33.3B | |
Accounts Payable | 13.0B | 16.9B | 18.5B | 20.6B | 23.0B | 24.2B | |
Cash | 4.9B | 5.7B | 4.9B | 7.4B | 6.5B | 3.3B | |
Long Term Debt | 17.8B | 19.3B | 21.2B | 22.3B | 23.2B | 12.5B | |
Short Term Investments | 19.7B | 23.4B | 26.3B | 26.0B | 29.6B | 15.6B | |
Other Current Assets | 29.1B | 34.3B | 38.5B | 43.6B | 60.0B | 63.0B | |
Intangible Assets | 8.7B | 9.4B | 10.6B | 10.3B | 10.3B | 8.3B | |
Property Plant Equipment | 3.1B | 3.5B | 3.9B | 4.3B | 5.0B | 5.2B | |
Property Plant And Equipment Net | 3.1B | 3.5B | 3.9B | 4.3B | 4.4B | 4.6B | |
Non Current Assets Total | 53.5B | 60.1B | 67.5B | 47.2B | 48.9B | 43.7B | |
Non Currrent Assets Other | (801M) | (1.7B) | (103M) | (19.8B) | 9.0B | 9.4B | |
Cash And Short Term Investments | 24.6B | 29.2B | 31.1B | 7.4B | 36.1B | 37.9B | |
Net Receivables | 10.6B | 11.0B | 13.4B | 16.0B | 17.9B | 18.8B | |
Property Plant And Equipment Gross | 2.2B | 2.7B | 3.1B | 3.5B | 4.0B | 4.2B | |
Total Current Assets | 35.2B | 40.1B | 44.6B | 55.6B | 60.0B | 63.0B | |
Accumulated Other Comprehensive Income | (296M) | 150M | (178M) | (2.5B) | (1.3B) | (1.2B) | |
Short Term Debt | 2.0B | 2.3B | 700M | 1.9B | 1.8B | 1.2B | |
Current Deferred Revenue | 1.0B | 1.3B | 1.2B | 1.1B | 1.4B | 1.5B | |
Good Will | 20.5B | 21.7B | 24.2B | 24.4B | 25.3B | 17.6B | |
Inventory | (29.1B) | (34.3B) | (38.5B) | (11.4B) | (46.3B) | (44.0B) | |
Retained Earnings Total Equity | 22.6B | 23.8B | 27.1B | 29.7B | 34.2B | 17.6B | |
Deferred Long Term Liab | 2.2B | 2.0B | 2.8B | 2.0B | 2.3B | 2.4B | |
Net Tangible Assets | 2.6B | 2.1B | 1.2B | 1.6B | 1.9B | 1.9B | |
Long Term Debt Total | 17.8B | 19.3B | 21.2B | 22.3B | 25.7B | 17.9B |
Pair Trading with Elevance Health
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Elevance Health position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Elevance Health will appreciate offsetting losses from the drop in the long position's value.Moving against Elevance Stock
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The ability to find closely correlated positions to Elevance Health could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Elevance Health when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Elevance Health - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Elevance Health to buy it.
The correlation of Elevance Health is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Elevance Health moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Elevance Health moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Elevance Health can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Additional Tools for Elevance Stock Analysis
When running Elevance Health's price analysis, check to measure Elevance Health's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Elevance Health is operating at the current time. Most of Elevance Health's value examination focuses on studying past and present price action to predict the probability of Elevance Health's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Elevance Health's price. Additionally, you may evaluate how the addition of Elevance Health to your portfolios can decrease your overall portfolio volatility.