Loading...

Anthem

NYSE:ANTM
Snowflake Description

Undervalued with moderate growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
ANTM
NYSE
$64B
Market Cap
  1. Home
  2. US
  3. Healthcare
Company description

Anthem, Inc., through its subsidiaries, operates as a health benefits company in the United States. The last earnings update was 62 days ago. More info.


Add to Portfolio Compare Print
  • Anthem has significant price volatility in the past 3 months.
ANTM Share Price and Events
7 Day Returns
2.2%
NYSE:ANTM
-2.8%
US Healthcare
-0.1%
US Market
1 Year Returns
11.4%
NYSE:ANTM
-4.7%
US Healthcare
7.6%
US Market
ANTM Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Anthem (ANTM) 2.2% -16.9% -6.5% 11.4% 70.4% 162.8%
US Healthcare -2.8% -7.3% -11.4% -4.7% 11.3% 60.7%
US Market -0.1% 3.7% 10.2% 7.6% 38.1% 46.4%
1 Year Return vs Industry and Market
  • ANTM outperformed the Healthcare industry which returned -4.7% over the past year.
  • ANTM outperformed the Market in United States of America which returned 7.6% over the past year.
Price Volatility
ANTM
Industry
5yr Volatility vs Market

ANTM Value

 Is Anthem undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Anthem to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Anthem.

NYSE:ANTM Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 13 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8.2%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NYSE:ANTM
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Healthcare Unlevered Beta Simply Wall St/ S&P Global 0.71
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.712 (1 + (1- 21%) (30.73%))
0.923
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.92
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.923 * 5.96%)
8.23%

Discounted Cash Flow Calculation for NYSE:ANTM using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Anthem is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

NYSE:ANTM DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 8.23%)
2019 4,963.30 Analyst x4 4,585.86
2020 5,937.16 Analyst x5 5,068.49
2021 6,636.95 Analyst x4 5,235.03
2022 7,310.00 Analyst x2 5,327.43
2023 9,067.00 Analyst x1 6,105.40
2024 10,024.24 Est @ 10.56% 6,236.66
2025 10,847.16 Est @ 8.21% 6,235.43
2026 11,559.32 Est @ 6.57% 6,139.50
2027 12,185.24 Est @ 5.41% 5,979.78
2028 12,746.90 Est @ 4.61% 5,779.71
Present value of next 10 years cash flows $56,693.30
NYSE:ANTM DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $12,746.90 × (1 + 2.73%) ÷ (8.23% – 2.73%)
$238,064.95
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $238,064.95 ÷ (1 + 8.23%)10
$107,943.54
NYSE:ANTM Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $56,693.30 + $107,943.54
$164,636.84
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $164,636.84 / 257.25
$639.98
NYSE:ANTM Discount to Share Price
Calculation Result
Value per share (USD) From above. $639.98
Current discount Discount to share price of $250.64
= -1 x ($250.64 - $639.98) / $639.98
60.8%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Anthem is available for.
Intrinsic value
>50%
Share price is $250.64 vs Future cash flow value of $639.98
Current Discount Checks
For Anthem to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Anthem's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Anthem's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Anthem's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Anthem's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:ANTM PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in USD $14.53
NYSE:ANTM Share Price ** NYSE (2019-04-23) in USD $250.64
United States of America Healthcare Industry PE Ratio Median Figure of 53 Publicly-Listed Healthcare Companies 20.85x
United States of America Market PE Ratio Median Figure of 3,080 Publicly-Listed Companies 18.03x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Anthem.

NYSE:ANTM PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:ANTM Share Price ÷ EPS (both in USD)

= 250.64 ÷ 14.53

17.25x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Anthem is good value based on earnings compared to the US Healthcare industry average.
  • Anthem is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does Anthem's expected growth come at a high price?
Raw Data
NYSE:ANTM PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 17.25x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 13 Analysts
14.2%per year
United States of America Healthcare Industry PEG Ratio Median Figure of 40 Publicly-Listed Healthcare Companies 1.49x
United States of America Market PEG Ratio Median Figure of 2,109 Publicly-Listed Companies 1.55x

*Line of best fit is calculated by linear regression .

NYSE:ANTM PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 17.25x ÷ 14.2%

1.22x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Anthem is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Anthem's assets?
Raw Data
NYSE:ANTM PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in USD $110.88
NYSE:ANTM Share Price * NYSE (2019-04-23) in USD $250.64
United States of America Healthcare Industry PB Ratio Median Figure of 92 Publicly-Listed Healthcare Companies 2.31x
United States of America Market PB Ratio Median Figure of 5,185 Publicly-Listed Companies 1.92x
NYSE:ANTM PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:ANTM Share Price ÷ Book Value per Share (both in USD)

= 250.64 ÷ 110.88

2.26x

* Primary Listing of Anthem.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Anthem is good value based on assets compared to the US Healthcare industry average.
X
Value checks
We assess Anthem's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Healthcare industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Healthcare industry average (and greater than 0)? (1 check)
  5. Anthem has a total score of 5/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

ANTM Future Performance

 How is Anthem expected to perform in the next 1 to 3 years based on estimates from 13 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
14.2%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Anthem expected to grow at an attractive rate?
  • Anthem's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Anthem's earnings growth is expected to exceed the United States of America market average.
  • Anthem's revenue growth is expected to exceed the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NYSE:ANTM Future Growth Rates Data Sources
Data Point Source Value (per year)
NYSE:ANTM Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 13 Analysts 14.2%
NYSE:ANTM Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 13 Analysts 9.4%
United States of America Healthcare Industry Earnings Growth Rate Market Cap Weighted Average 13.2%
United States of America Healthcare Industry Revenue Growth Rate Market Cap Weighted Average 7.1%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.5%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.1%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NYSE:ANTM Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 13 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:ANTM Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 155,619 11,381 8,089 2
2022-12-31 142,335 9,413 6,874 1
2021-12-31 121,004 7,824 6,270 7
2020-12-31 110,167 6,645 5,570 12
2019-12-31 100,624 5,494 4,690 12
NYSE:ANTM Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-12-31 92,091 3,827 3,750
2018-09-30 91,394 2,063 4,556
2018-06-30 90,581 3,861 4,344
2018-03-31 90,063 3,712 4,145
2017-12-31 90,049 4,185 3,843
2017-09-30 89,055 5,763 2,980
2017-06-30 88,038 4,322 2,851
2017-03-31 87,083 4,599 2,777
2016-12-31 84,862 3,270 2,470
2016-09-30 83,364 3,943 2,282
2016-06-30 81,866 3,322 2,319
2016-03-31 80,412 3,825 2,398

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Anthem's earnings are expected to grow by 14.2% yearly, however this is not considered high growth (20% yearly).
  • Anthem's revenue is expected to grow by 9.4% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NYSE:ANTM Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 13 Analyst Estimates (S&P Global) See Below

All data from Anthem Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:ANTM Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31 29.19 29.19 29.19 1.00
2021-12-31 24.75 25.28 24.22 2.00
2020-12-31 21.46 22.10 20.03 7.00
2019-12-31 17.75 18.22 15.93 8.00
NYSE:ANTM Past Financials Data
Date (Data in USD Millions) EPS *
2018-12-31 14.53
2018-09-30 17.69
2018-06-30 16.84
2018-03-31 15.98
2017-12-31 14.70
2017-09-30 11.32
2017-06-30 10.80
2017-03-31 10.54
2016-12-31 9.40
2016-09-30 8.70
2016-06-30 8.86
2016-03-31 9.16

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Anthem is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Anthem's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Anthem has a total score of 3/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

ANTM Past Performance

  How has Anthem performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Anthem's growth in the last year to its industry (Healthcare).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Anthem's year on year earnings growth rate has been positive over the past 5 years.
  • Anthem's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Anthem's 1-year earnings growth is negative, it can't be compared to the US Healthcare industry average.
Earnings and Revenue History
Anthem's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Anthem Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:ANTM Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 92,091.00 3,750.00 14,020.00
2018-09-30 91,393.60 4,555.80 13,795.60
2018-06-30 90,580.80 4,343.50 13,261.00
2018-03-31 90,063.20 4,145.40 12,886.80
2017-12-31 90,049.00 3,843.00 12,535.00
2017-09-30 89,055.00 2,980.40 12,520.00
2017-06-30 88,037.80 2,851.20 12,633.60
2017-03-31 87,082.70 2,776.70 12,549.00
2016-12-31 84,862.00 2,470.00 12,559.00
2016-09-30 83,363.90 2,282.30 12,562.30
2016-06-30 81,865.50 2,319.30 12,518.10
2016-03-31 80,412.30 2,397.80 12,589.80
2015-12-31 79,158.40 2,560.00 12,534.80
2015-09-30 77,958.60 2,885.80 12,299.20
2015-06-30 76,605.20 2,861.90 12,187.10
2015-03-31 75,066.20 2,733.90 12,032.10
2014-12-31 73,885.70 2,560.10 11,748.40
2014-09-30 72,791.50 2,362.30 11,361.10
2014-06-30 72,090.00 2,385.20 10,935.50
2014-03-31 71,306.90 2,453.40 10,485.30
2013-12-31 71,023.50 2,634.30 9,952.90
2013-09-30 68,443.40 2,785.10 9,487.10
2013-06-30 65,941.00 2,822.50 9,023.00
2013-03-31 63,658.00 2,666.80 8,669.20
2012-12-31 61,497.20 2,651.00 8,680.50
2012-09-30 61,493.30 2,526.60 8,464.90
2012-06-30 61,538.20 2,518.60 8,505.90

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Anthem has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Anthem used its assets less efficiently than the US Healthcare industry average last year based on Return on Assets.
  • Anthem's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Anthem's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Healthcare industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Anthem has a total score of 1/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

ANTM Health

 How is Anthem's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Anthem's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Anthem is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Anthem's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Anthem's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 1.7x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Anthem Company Filings, last reported 3 months ago.

NYSE:ANTM Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 28,541.00 19,815.00 22,140.00
2018-09-30 29,094.00 20,160.00 23,943.00
2018-06-30 28,725.00 19,909.90 24,222.70
2018-03-31 27,012.40 20,497.70 24,088.30
2017-12-31 26,503.00 20,386.00 24,602.00
2017-09-30 25,948.30 17,137.10 26,264.00
2017-06-30 26,431.70 17,506.10 25,352.30
2017-03-31 26,091.90 18,393.50 26,555.00
2016-12-31 25,100.40 16,805.80 22,722.70
2016-09-30 24,744.20 16,969.50 22,259.00
2016-06-30 24,233.60 17,082.30 21,798.20
2016-03-31 23,547.10 17,259.00 21,644.60
2015-12-31 23,044.10 17,165.40 20,494.40
2015-09-30 23,236.10 17,778.20 20,979.10
2015-06-30 23,062.60 18,351.50 21,518.30
2015-03-31 24,334.30 17,862.80 22,330.50
2014-12-31 24,251.30 16,559.20 21,545.90
2014-09-30 24,294.00 16,961.50 21,869.90
2014-06-30 24,376.90 16,743.90 22,024.50
2014-03-31 24,345.30 16,365.40 21,964.60
2013-12-31 24,765.20 15,461.30 20,372.10
2013-09-30 24,808.10 15,701.80 21,223.60
2013-06-30 24,532.50 15,511.70 20,452.90
2013-03-31 24,318.00 15,356.90 20,856.80
2012-12-31 23,802.70 15,542.60 20,615.40
2012-09-30 23,816.50 14,288.90 22,131.90
2012-06-30 23,643.80 11,915.70 20,314.60
  • Anthem's level of debt (69.4%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (62.5% vs 69.4% today).
  • Debt is not well covered by operating cash flow (19.3%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 7.9x coverage).
X
Financial health checks
We assess Anthem's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Anthem has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

ANTM Dividends

 What is Anthem's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
1.28%
Current annual income from Anthem dividends. Estimated to be 1.33% next year.
If you bought $2,000 of Anthem shares you are expected to receive $26 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Anthem's pays a lower dividend yield than the bottom 25% of dividend payers in United States of America (1.4%).
  • Anthem's dividend is below the markets top 25% of dividend payers in United States of America (3.64%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NYSE:ANTM Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 13 Analyst Estimates (S&P Global) See Below
United States of America Healthcare Industry Average Dividend Yield Market Cap Weighted Average of 21 Stocks 1.6%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2008 Stocks 2.4%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.6%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NYSE:ANTM Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 3.43 5.00
2020-12-31 3.35 8.00
2019-12-31 3.24 8.00
NYSE:ANTM Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-02-20 3.200 1.110
2019-01-30 3.200 1.045
2018-10-31 3.000 1.109
2018-07-25 3.000 1.124
2018-01-31 3.000 1.286
2017-10-25 2.800 1.232
2017-07-26 2.800 1.470
2017-02-22 2.600 1.467
2016-11-02 2.600 1.784
2016-07-27 2.600 2.071
2016-04-27 2.600 1.942
2016-02-18 2.600 1.868
2016-01-27 2.500 2.000
2015-07-29 2.500 1.778
2015-04-29 2.500 1.555
2015-02-24 2.500 1.646
2015-01-28 2.500 1.792
2014-10-29 1.750 1.367
2014-04-30 1.750 1.561
2014-01-29 1.750 1.890
2013-10-23 1.500 1.686
2013-07-24 1.500 1.737
2013-05-15 1.500 1.865
2013-02-21 1.500 2.218
2012-11-07 1.150 1.910
2012-07-25 1.150 1.955
2012-05-16 1.150 1.756
2012-01-25 1.150 1.713
2011-10-26 1.000 1.468
2011-07-27 1.000 1.567
2011-05-17 1.000 1.298
2011-02-23 1.000 1.413

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Whilst dividend payments have been stable, Anthem has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but Anthem only paid a dividend in the past 8 years.
Current Payout to shareholders
What portion of Anthem's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (4.8x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be thoroughly covered by earnings (7.6x coverage).
X
Income/ dividend checks
We assess Anthem's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Anthem afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Anthem has a total score of 2/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

ANTM Management

 What is the CEO of Anthem's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Gail Boudreaux
COMPENSATION $14,184,276
AGE 57
TENURE AS CEO 1.4 years
CEO Bio

Ms. Gail Koziara Boudreaux has been President, Chief Executive Officer and Director of Anthem, Inc. since November 11, 2017. Prior to joining the Company, she served as Chief Executive Officer of GKB Global Health, LLC from July 2015 to November 2017. Ms. Boudreaux serves as Director of the Mid-America Club and serves as Trustee of the Field Museum. She served as the Chief Executive Officer of United Healthcare at UnitedHealth Group Incorporated from January 2011 to November 2014. Ms. Boudreaux served as Chief Executive Officer of UnitedHealthcare, Inc. from January 2011 to November 2014. Ms. Boudreaux served as an Executive Vice President of United Healthcare of Unitedhealth Group, Inc. from May 2008 to February 2015 and served as its President from May 2008 to 2011. Her extensive experience includes more than 30 years of service across a broad spectrum of health care operations. She served as an Executive Vice President and Strategic Advisor of Health Care Services Corporation (“HCSC“) from December 19, 2007 to April 1, 2008 and its Executive Vice President of External Operations until December 19, 2007. She served as an Executive Vice President of Fort Dearborn Life, Colorado Bankers Life and Dental Network of America, all are subsidiaries of Health Care Service Corporation since December 2005. She served as the President of Blue Cross and Blue Shield of Illinois, a division of Health Care Service Corporation from September 2002 to December 2005. Ms. Boudreaux was responsible for Sales and Marketing, Managed Care Network Operations, Medical Policy, Contracting, Provider Affairs, Government Relations, Public Affairs and Advertising. From June 1982 to August 2002, she held various positions of increasing responsibility at Aetna Inc., a provider of health, dental, group, life, disability and long-term care benefits and served as its Senior Vice President and Head of Aetna Group Insurance, Vice President of Customer Service and Regional Manager, Capitol Region. She was Independent Director of Genzyme Corporation from May 2004 to 2011. She has been a Director of Genzyme Molecular Oncology and Sanofi Biosurgery Inc. since 2004. She has been an Independent Director at Zimmer Biomet Holdings, Inc. (also known as Zimmer Holdings, Inc.) since December 10, 2012. She serves as Director of Dental Network of America, a subsidiary of Health Care Service Corporation. Ms. Boudreaux has been a Director of Genzyme General since 2004. She was Director at Novavax, Inc. since June 17, 2015 until November 5, 2017. She served as Director of HCSC Insurance Services until 2008. She was Director of Dearborn National Life Insurance Company and Dearborn National Life Insurance Company of New York until 2008. She has been an Independent Director of BCI HMO Inc., Xcel Energy Inc. from March 1, 2012 to December 2017. She served as a Director at Genzyme Oncology, Inc., since 2004. She also serves as a Director of the BCBSA, the National Institute for Health Care Management, Health Services Foundation, Dartmouth College Board of Trustees, and the Central Indiana Corporate Partnership, and as a member of the Business Roundtable. She also is a Member of the YWCA's President's Advisory Council and the Chicago Network, an organization of Chicago's most influential women. Ms. Boudreaux remains active in Dartmouth College activities as an alumni interviewer and served as a member of the Alumni Council of Dartmouth College. While at Dartmouth, she was a highly honored member of the women’s basketball team. In 1999, she was named to the Ivy League’s 25-year anniversary team in basketball and Dartmouth College’s 25-year anniversary teams in both basketball and track & field. In 2003, she was inducted into the New England Basketball Hall of Fame. She is a Certified Employee Benefit Specialist. She has been honored as one of Fortune's 50 Most Powerful Women in American Business for the last six years and was recognized by Modern Healthcare as one of the Top 25 Women in Healthcare. Ms. Boudreaux holds an M.B.A. degree in Finance and Health Care Administration from the Columbia Business School and a Bachelor's degree in Psychology from Dartmouth College.

CEO Compensation
  • Gail's compensation has increased by more than 20% in the past year.
  • Gail's remuneration is about average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Anthem management team in years:

3.7
Average Tenure
58
Average Age
  • The tenure for the Anthem management team is about average.
Management Team

Gail Boudreaux

TITLE
President
COMPENSATION
$14M
AGE
57
TENURE
1.4 yrs

John Gallina

TITLE
Executive VP & CFO
COMPENSATION
$5M
AGE
58
TENURE
2.8 yrs

Gloria McCarthy

TITLE
Executive VP and Chief Administration & Transformation Officer
COMPENSATION
$5M
AGE
65
TENURE
6.3 yrs

Thomas Zielinski

TITLE
Executive VP & General Counsel
COMPENSATION
$4M
AGE
67
TENURE
4.8 yrs

Pete Haytaian

TITLE
Executive VP and President of Commercial & Specialty Business Division
COMPENSATION
$6M
AGE
48
TENURE
4.8 yrs

Scott Anglin

TITLE
SVP, Treasurer & Chief Investment Officer
TENURE
1 yrs

Ronald Penczek

TITLE
Senior VP
AGE
53
TENURE
3.3 yrs

Tom Miller

TITLE
Senior VP & Chief Information Officer
AGE
60
TENURE
4.9 yrs

Chris Rigg

TITLE
Vice President
TENURE
1.3 yrs

Bonnie Jacobs

TITLE
Senior Vice President of Corporate Communications
TENURE
4 yrs
Board of Directors Tenure

Average tenure and age of the Anthem board of directors in years:

5.7
Average Tenure
62
Average Age
  • The tenure for the Anthem board of directors is about average.
Board of Directors

Liz Tallett

TITLE
Chairman of the Board
COMPENSATION
$455K
AGE
69
TENURE
0.9 yrs

Gail Boudreaux

TITLE
President
COMPENSATION
$14M
AGE
57
TENURE
1.4 yrs

Richard Hom

TITLE
Chairman of Advisory Board & National Optometric Director
TENURE
5.7 yrs

Ramiro Peru

TITLE
Director
COMPENSATION
$356K
AGE
62
TENURE
14.4 yrs

Julie Hill

TITLE
Director
COMPENSATION
$348K
AGE
72
TENURE
14.4 yrs

Lew Hay

TITLE
Director
COMPENSATION
$324K
AGE
62
TENURE
5.8 yrs

George Schaefer

TITLE
Independent Lead Director
COMPENSATION
$349K
AGE
73
TENURE
3.3 yrs

Robert Dixon

TITLE
Director
COMPENSATION
$336K
AGE
62
TENURE
7.8 yrs

Heath Gilbert

TITLE
Member of Advisory Board
TENURE
5.7 yrs

Douglas Kiefer

TITLE
Member of Advisory Board
TENURE
5.7 yrs
Who owns this company?
Recent Insider Trading
  • Anthem insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
04. Feb 19 Sell Julie Hill Individual 31. Jan 19 31. Jan 19 -500 $299.75 $-149,875
09. Nov 18 Sell Julie Hill Individual 08. Nov 18 08. Nov 18 -500 $287.25 $-143,625
17. Aug 18 Sell Julie Hill Individual 16. Aug 18 16. Aug 18 -248 $267.01 $-66,218
29. May 18 Sell Julie Hill Individual 25. May 18 25. May 18 -1,000 $233.00 $-233,000
18. May 18 Sell Robert Dixon Individual 18. May 18 18. May 18 -1,000 $231.10 $-231,100
X
Management checks
We assess Anthem's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Anthem has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

ANTM News

Simply Wall St News

Does Anthem, Inc.’s (NYSE:ANTM) ROCE Reflect Well On The Business?

In particular, we'll consider its Return On Capital Employed (ROCE), as that can give us insight into how profitably the company is able to employ capital in its business. … Return On Capital Employed (ROCE): What is it? … ROCE is a measure of a company's yearly pre-tax profit (its return), relative to the capital employed in the business.

Simply Wall St -

Announcing: Anthem (NYSE:ANTM) Stock Increased An Energizing 200% In The Last Five Years

(NYSE:ANTM) which saw its share price drive 200% higher over five years. … One imperfect but simple way to consider how the market perception of a company has shifted is to compare the change in the earnings per share (EPS) with the share price movement. … During five years of share price growth, Anthem achieved compound earnings per share (EPS) growth of 10% per year.

Simply Wall St -

Anthem, Inc.'s (NYSE:ANTM) Earnings Dropped -2.4%, How Did It Fare Against The Industry?

Today I will assess ANTM's recent performance announced on 31 December 2018 and evaluate these figures to its long-term trend and industry movements. … Was ANTM's recent earnings decline worse than the long-term trend and the industry. … Furthermore, this one-year growth rate has been lower than its average earnings growth rate over the past 5 years of 12%, indicating the rate at which ANTM is growing has slowed down

Simply Wall St -

Have Investors Priced In Anthem, Inc.'s (NYSE:ANTM) Growth?

(NYSE:ANTM) is considered a high growth stock. … However its last closing price of $301.51 left investors wondering whether this growth has already been factored into the share price. … Analysts are predicting good growth prospects for Anthem over the next couple of years

Simply Wall St -

Will Anthem, Inc.'s (NYSE:ANTM) Earnings Grow In The Year Ahead?

After Anthem, Inc.'s (NYSE:ANTM) earnings announcement on 31 December 2018, … the consensus outlook from analysts appear fairly confident, … with earnings expected to grow by 24% in the upcoming year

Simply Wall St -

What Is Anthem, Inc.'s (NYSE:ANTM) Share Price Doing?

The company's stock. … led the NYSE gainers with a relatively large price hike in the past couple of weeks. … With many analysts covering the large-cap stock, we may expect any price-sensitive announcements have already been factored into the stock’s share price

Simply Wall St -

What Should Investors Know About The Future Of Anthem, Inc.'s (NYSE:ANTM)?

Want to participate in a short research study? … Help shape the future of investing tools and receive a $20 prize! … (NYSE:ANTM) released its most recent earnings announcement, whicha

Simply Wall St -

Is Anthem, Inc. (NYSE:ANTM) A Strong Dividend Stock?

Dividends play an important role in compounding returns in the long run and end up forming a sizeable part of investment returns. … Let's dig deeper into whether Anthem should have a place in your portfolio. … View our latest analysis for Anthem

Simply Wall St -

An Intrinsic Calculation For Anthem, Inc. (NYSE:ANTM) Shows It's 28.31% Undervalued

by taking the expected future cash flows and discounting them to their present value. … discounted cash flows (DCF). … If you want to learn more about discounted cash flow, the basis for my calcs can be read in detail in the Simply Wall St analysis model

Simply Wall St -

Why Fundamental Investors Might Love Anthem, Inc. (NYSE:ANTM)

Looking at the company as a whole, as a potential stock investment, I believe ANTM has a lot to offer. … is a company with a … trading at a great value

Simply Wall St -

ANTM Company Info

Description

Anthem, Inc., through its subsidiaries, operates as a health benefits company in the United States. It operates through three segments: Commercial & Specialty Business, Government Business, and Other. The company offers a spectrum of network-based managed care health benefit plans to large and small group, individual, Medicaid, and Medicare markets. Its managed care plans include preferred provider organizations; health maintenance organizations; point-of-service plans; traditional indemnity plans and other hybrid plans, such as consumer-driven health plans; and hospital only and limited benefit products. The company also provides a range of managed care services to self-funded customers, including claims processing, underwriting, stop loss insurance, actuarial services, provider network access, medical cost management, disease management, wellness programs, and other administrative services. In addition, it offers an array of specialty and other insurance products and services, such as dental, vision, life and disability insurance benefits, radiology benefit management, and analytics-driven personal health care guidance; and Medicare administrative services. Further, the company provides services to the federal government in connection with the Federal Employee Program; and operates as a licensee of the Blue Cross and Blue Shield Association. As of December 31, 2018, it served 40 million medical members through its affiliated health plans. The company was formerly known as WellPoint, Inc. and changed its name to Anthem, Inc. in December 2014. Anthem, Inc. was founded in 1944 and is headquartered in Indianapolis, Indiana.

Details
Name: Anthem, Inc.
ANTM
Exchange: NYSE
Founded: 1944
$64,477,969,869
257,253,311
Website: http://www.antheminc.com
Address: Anthem, Inc.
220 Virginia Avenue,
Indianapolis,
Indiana, 46204,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE ANTM Common Stock New York Stock Exchange US USD 30. Oct 2001
DB A58 Common Stock Deutsche Boerse AG DE EUR 30. Oct 2001
LSE 0HG8 Common Stock London Stock Exchange GB USD 30. Oct 2001
BMV ANTM * Common Stock Bolsa Mexicana de Valores MX MXN 30. Oct 2001
Number of employees
Current staff
Staff numbers
63,900
Anthem employees.
Industry
Managed Health Care
Healthcare
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/23 23:57
End of day share price update: 2019/04/23 00:00
Last estimates confirmation: 2019/04/23
Last earnings filing: 2019/02/20
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.