D
Elevance Health, Inc. — Earnings Quality Grade D
ELV · Healthcare
Significant concerns
Revenue
$199.1B
2025
Net Income
$5.7B
2025
Gross Margin
—
Free Cash Flow
$3.2B
01
Screening Summary
8
Passed
2
Watch
2
Failed
—
M-Score
02
Financial Trends
Revenue & Net Income ($B)
Margins (%)
03
18-Point Screening
01
Revenue Quality
✓
A1DSO Change
DSO 18 days, change +2 days YoY
!
A2AR vs Revenue Growth
AR growth 25.7% exceeds revenue growth 12.6%
✗
A3Revenue vs CFFO
Revenue grew 12.6% but CFFO declined -26.1%
02
Expense Quality
✓
B1Inventory vs COGS
No material inventory
✓
B2CapEx vs Revenue
CapEx growth -11.1% vs revenue 12.6%. Normal
—
B3SG&A Ratio
Insufficient data
—
B4Gross Margin
Insufficient data
03
Cash Flow Quality
!
C1CFFO vs Net Income
CFFO/NI = 0.76. Below 1.0
✓
C2Free Cash Flow
FCF $3.2B, FCF/NI = 0.56
✓
C3Accruals Ratio
Accruals ratio = 1.1%. Low accruals
✓
C4Cash vs Debt
Cash $35.4B covers debt $32.0B
04
Balance Sheet Health
✗
D1Goodwill + Intangibles
Goodwill+Intangibles $39.5B = 90% of equity. Over 50%
—
D2Leverage
Insufficient data
—
D3Soft Asset Growth
Insufficient data
—
D4Asset Impairment
No write-off data
05
Acquisition Risk
✓
E1Serial Acquirer FCF
FCF after acquisitions positive
✓
E2Goodwill Surge
Goodwill+Intangibles change -2% YoY. Normal
06
Manipulation Score
—
F1Beneish M-Score
Insufficient data
05
Altman Z-Score
1.99
Grey Zone0 Distress1.102.605.0+ Safe
0
Liquidity
0.2913
Cumulative profit
0.0668
Operating efficiency
0.5665
Leverage
Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-09