Elevance Health (XTER:A58) Scaled Net Operating Assets: 0.34 (As of Mar. 2026)


XTER:A58 Elevance Health Inc XTER:A58
89 GF Score
Price €343.40
GF Value €441.91
Valuation Modestly Undervalued
! 7 Warning Signs
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What is Elevance Health Scaled Net Operating Assets?

Elevance Health XTER:A58 +1.21% 89 Scaled Net Operating Assets is 0.34 as of Mar. 2026. GuruFocus rates XTER:A58 with a GF Score™ of 89/100 and a GF Value™ of €441.91 (Modestly Undervalued). The stock has 7 warning signs investors should review.

Scaled Net Operating Assets (SNOA) is calculated as the difference between operating assets and operating liabilities, scaled by lagged total assets.

Elevance Health's operating assets for the quarter that ended in Mar. 2026 was €78,079 Mil. Elevance Health's operating liabilities for the quarter that ended in Mar. 2026 was €43,201 Mil. Elevance Health's Total Assets for the quarter that ended in Dec. 2025 was €103,756 Mil. Therefore, Elevance Health's scaled net operating assets (SNOA) for the quarter that ended in Mar. 2026 was 0.34.

XTER:A58
89GF Score
Elevance Health Inc XTER:A58
Scaled Net Operating Assets is just one metric. See GF Score™, valuation, warning signs, and more.
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Elevance Health Scaled Net Operating Assets Calculation

Scaled Net Operating Assets (SNOA) is calculated as the difference between operating assets and operating liabilities, scaled by lagged total assets.

Elevance Health's Scaled Net Operating Assets (SNOA) for the fiscal year that ended in Dec. 2025 is calculated as

Scaled Net Operating Assets (SNOA)(A: Dec. 2025 )
=(Operating Assets (A: Dec. 2025 )-Operating Liabilities (A: Dec. 2025 ))/Total Assets (A: Dec. 2024 )
=(95650.562-38790.388)/111628.995
=0.51

where

Operating Assets(A: Dec. 2025 )
=Total Assets - Balance Sheet Cash And Cash Equivalents
=103755.876 - 8105.314
=95650.562

Operating Liabilities(A: Dec. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=66157.672 - 26300.638 - 1066.646
=38790.388

Elevance Health's Scaled Net Operating Assets (SNOA) for the quarter that ended in Mar. 2026 is calculated as

Scaled Net Operating Assets (SNOA)(Q: Mar. 2026 )
=(Operating Assets (Q: Mar. 2026 )-Operating Liabilities (Q: Mar. 2026 ))/Total Assets (Q: Dec. 2025 )
=(78079.225-43200.695)/103755.876
=0.34

where

Operating Assets(Q: Mar. 2026 )
=Total Assets - Balance Sheet Cash And Cash Equivalents
=108840.355 - 30761.13
=78079.225

Operating Liabilities(Q: Mar. 2026 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=70744.025 - 26614.32 - 929.01
=43200.695

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

What does a Scaled Net Operating Assets of 0.34 mean?
Elevance Health (XTER:A58) has a Scaled Net Operating Assets of 0.34 as of Mar. 2026. Scaled net operating assets equals current-period operating assets less operating liabilities less prior-period total assets. View historical data on Elevance Health and its competitors.
Is Elevance Health's Scaled Net Operating Assets too high?
Elevance Health's current Scaled Net Operating Assets is 0.34. Overall, Elevance Health has a GF Score™ of 89/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Elevance Health's Scaled Net Operating Assets compare to CI and CVS?
Elevance Health's Scaled Net Operating Assets of 0.34 can be compared against companies in the Healthcare Plans industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Scaled Net Operating Assets for a Healthcare Plans company?
A good Scaled Net Operating Assets depends on the Healthcare Plans industry context. However, Scaled Net Operating Assets should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Scaled Net Operating Assets mean?
A high Scaled Net Operating Assets can signal that a stock is expensive relative to its fundamentals. Scaled net operating assets equals current-period operating assets less operating liabilities less prior-period total assets. View historical data on Elevance Health and its competitors. Elevance Health's current Scaled Net Operating Assets is 0.34. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Elevance Health stock overvalued right now?
Based on GuruFocus' analysis, Elevance Health (XTER:A58) is currently considered Modestly Undervalued. The stock's GF Value™ is €441.91, compared to a current price of €343.40 — trading 22.3% below its estimated fair value. The current Scaled Net Operating Assets is 0.34. Elevance Health's overall GF Score™ is 89/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Scaled Net Operating Assets calculated?
Scaled Net Operating Assets is calculated from a company's financial statements. For Elevance Health (XTER:A58), the current Scaled Net Operating Assets is 0.34 as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Elevance Health (XTER:A58) Overvalued in 2026?

Based on GuruFocus' analysis, Elevance Health stock appears to be undervalued. The current stock price of €343.40 is trading 22.3% below its estimated GF Value™ of €441.91. GuruFocus considers Elevance Health to be Modestly Undervalued.

Key valuation signals for XTER:A58:

  • Scaled Net Operating Assets: 0.34
  • GF Value™: €441.91 vs. price of €343.40 (22.3% below fair value)
  • GF Score™: 89/100 with 7 warning signs

No single metric tells the full story. See the XTER:A58 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Elevance Health Business Description

Address 220 Virginia Avenue, Indianapolis, IN, USA, 46204
Elevance Health remains one of the leading health insurers in the US, providing medical benefits to 45 million medical members at the end of 2025. The company offers employer, individual, and government-sponsored coverage plans. Elevance differs from its peers in its unique position as the largest single provider of Blue Cross Blue Shield branded coverage, operating as the licensee for the Blue Cross Blue Shield Association in 14 states. Through acquisitions, such as the Amerigroup deal in 2012 and MMM in 2021, Elevance's reach expands beyond those states in government-sponsored programs, such as Medicaid and Medicare Advantage plans, too. It is also an emerging player in pharmacy benefit management and other healthcare services.
89GF Score

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€343.40
Price
€441.91
GF Value