ELV · Elevance Health, Inc. · Financials

$439.95 -5.33 (-1.20%) At close · Oct 23

S&P 500 member Russell 1000 member Rebalance outlook locked

Market Cap

$95.05B

216.06M

Volume · Oct 23 1.17M Avg daily vol (3M) 1.15M

Income-statement, balance-sheet and cash-flow figures from SEC filings, plus a debt profile anchored in the latest 10-K and updated by each 10-Q and debt exhibit.

Pull these statements through the financial statements API or MCP →

Revenue

$199.13B +12.5%

FY2025

Net Income

$5.66B -5.3%

FY2025

Gross Margin

89.36% +0.5pp

FY2025

Operating Margin

3.62% -0.8pp

FY2025

Diluted EPS

$25.21 -1.8%

FY2025

Operating Cash Flow

$4.29B -26.1%

FY2025

Chart any reported metric, KPI or segment over time — the full statement history lives here

Income Statement Balance Sheet Cash Flow Adjusted All Metrics

Annual Quarterly

Line Item	3Y	5Y	10Y	FY2026 (G)	TTM	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008	FY2007
Revenue	+8.3%	+10.3%	+9.7%	—	$201.83B	$199.13B	$177.01B	$171.34B	$156.6B^G	$138.64B	$121.87B	$104.21B	$92.11B	$90.04B	$84.86B	$79.16B	$73.87B	$71.02B	$61.5B	$60.71B	$58.7B	$64.94B	$61.25B	$61.17B
Premiums Earned (Net)	+7.3%	+9.6%	+8.4%	—	$164.7B	$164.64B	$144.17B	$142.85B	$133.23B	$117.37B	$104.11B	$94.17B	$85.42B	$83.65B	$78.86B	$73.39B	$68.39B	$66.12B	$56.5B	$55.97B	$53.97B	$56.38B	$57.1B	$55.87B
Cost of Revenue	+17.6%	+18.8%	—	—	$22.12B	$21.18B	$19.75B	$17.29B	$13.04B	$10.9B	$8.95B	$1.99B	$0	$0	—	—	—	—	$137.4M	$0	$0	$419M	$468.5M	$432.7M
Gross Profit	+7.4%	+9.5%	—	—	$179.71B	$177.95B	$157.26B	$154.05B	$143.56B	$127.74B	$112.91B	$102.22B	$92.11B	$90.04B	—	—	—	—	$61.36B	$60.71B	$58.7B	$64.52B	$60.78B	$60.74B
Gross Margin	—	—	—	—	—	89.36%	88.84%	89.91%	91.68%	92.14%	92.65%	98.09%	100%	100%	—	—	—	—	99.78%	100%	100%	99.35%	99.24%	99.29%
General & Administrative	—	—	—	—	—	—	—	—	—	—	—	—	—	$11.25B	$11.17B	$11.09B	$10.26B	$8.43B	$7.09B	$6.82B	$7.12B	$7.33B	$6.72B	$6.98B
Selling, General & Administrative	+5.8%	+3.8%	+5.3%	—	$23.04B	$20.98B	$20.03B	$20.09B	$17.7B	$15.92B	$17.45B	$13.36B	$14.02B	$12.65B	$12.56B	$12.53B	$11.75B	$9.95B	$8.68B	$8.44B	$8.73B	$9.02B	$8.5B	$8.7B
Amortization of Intangibles	-6.4%	+11.7%	+10.6%	—	$492M	$628M	$580M	$885M	$767M	$441M	$361M	$338M	$358M	$169M	$192M	$230.1M	$220.9M	$245.3M	$233M	$239.4M	$241.7M	$266M	$286.1M	$290.7M
Depreciation & Amortization	-2.6%	+6.0%	—	—	$1.49B	$1.55B	$1.39B	$1.75B	$1.68B	$1.3B	$1.15B	$1.13B	$1.13B	—	—	—	—	—	—	—	—	—	—	—
Operating Income	-4.6%	+2.5%	+4.2%	—	$5.43B	$7.2B	$7.86B	$8.5B	$8.28B	$7.56B	$6.36B	$6B	$5.43B	$4.18B	$4.8B	$4.75B	$4.42B	$4B	$3.62B	$3.78B	$4.08B	$4.18B	$4.35B	—
Operating Margin	—	—	—	—	—	3.62%	4.44%	4.96%	5.29%	5.45%	5.22%	5.76%	5.89%	4.64%	5.66%	6%	5.98%	5.63%	5.89%	6.23%	6.95%	6.44%	7.1%	—
EBITDA	-4.2%	+3.1%	—	—	$6.92B	$8.75B	$9.26B	$10.24B	$9.96B	$8.86B	$7.51B	$7.13B	$6.56B	—	—	—	—	—	—	—	—	—	—	—
Interest Expense	+18.1%	+12.3%	+7.9%	—	$1.45B	$1.4B	$1.19B	$1.03B	$851M	$798M	$784M	$746M	$753M	$739M	$723M	$653M	$600.7M	$602.7M	$511.8M	$430.3M	$418.9M	$447.4M	$469.8M	$447.9M
Equity in Earnings of Unconsolidated Entities	+10.7%	+50.8%	—	—	$1.26B	$398M	$1M	-$33M	$293M	$562M	$51M	$93M	—	—	—	—	—	—	—	—	—	—	—	—
Pretax Income	-4.1%	+1.5%	+3.8%	—	$6.25B	$6.71B	$7.9B	$7.72B	$7.6B	$8B	$6.24B	$5.99B	$5.07B	$3.96B	$4.56B	$4.63B	$4.37B	$3.84B	$3.86B	$3.96B	$4.35B	$7.4B	$3.12B	$5.26B
Income Tax	-15.1%	-8.8%	-6.6%	—	$1.15B	$1.05B	$1.93B	$1.72B	$1.71B	$1.85B	$1.67B	$1.18B	$1.32B	$121M	$2.09B	$2.07B	$1.81B	$1.21B	$1.21B	$1.31B	$1.47B	$2.66B	$631.7M	$1.91B
Net Income	-1.3%	+4.4%	+8.3%	—	$5.14B	$5.66B	$5.98B	$5.99B	$5.89B	$6.16B	$4.57B	$4.81B	$3.75B	$3.84B	$2.47B	$2.56B	$2.57B	$2.49B	$2.66B	$2.65B	$2.89B	$4.75B	$2.49B	$3.35B
Net Margin	—	—	—	—	—	2.84%	3.38%	3.49%	3.76%	4.44%	3.75%	4.61%	4.07%	4.27%	2.91%	3.23%	3.48%	3.51%	4.32%	4.36%	4.92%	7.31%	4.07%	5.47%
Net Income Attributable to Noncontrolling Interests	—	—	—	—	-$36M	-$1M	-$9M	$4M	-$6M	-$9M	$0	$0	—	—	—	—	—	—	—	—	—	—	—	—
Comprehensive Income	+20.9%	+4.8%	+11.7%	—	$4.01B	$6.36B	$6.15B	$7.16B	$3.6B	$5.82B	$5.02B	$5.5B	$3.28B	$4.01B	$2.5B	$2.1B	$2.56B	$2.37B	$2.84B	$2.54B	$3.04B	$5.8B	$1.44B	$3.45B
EPS (Basic) USD/shares	+1.0%	+6.8%	+10.0%	—	$23.65	$25.28	$25.81	$25.38	$24.56	$25.26	$18.23	$18.81	$14.53	$14.70	$9.39	$9.73	$9.31	$8.34	$8.26	$7.35	$7.03	$9.96	$4.79	$5.64
EPS (Diluted) USD/shares	+1.3%	+7.0%	+10.4%	at least $27.00*	$23.54	$25.21^G	$25.68^G	$25.22^G	$24.28^G	$24.95^G	$17.98^G	$18.47	$14.19	$14.35	$9.21	$9.38	$8.99	$8.20	$8.18	$7.25	$6.94	$9.88	$4.76	$5.56
Shares Outstanding (Basic Avg) shares	-2.3%	-2.2%	-1.6%	—	—	224M	231.7M	235.9M	240M	243.8M	250.8M	255.5M	258.1M	261.5M	262.9M	263M	275.9M	298.5M	321.5M	360.2M	410.9M	476.3M	519.8M	—
Shares Outstanding (Diluted Avg) shares	-2.6%	-2.5%	-1.9%	—	—	224.6M	232.9M	237.4M	242.8M	246.8M	254.3M	260.3M	264.2M	267.8M	268.1M	272.9M	285.9M	303.8M	324.8M	365.1M	415.8M	480.5M	523M	—

Italic rows are computed from reported lines — open a row's info icon for its formula. Values reflect the latest filing (restatements included); per-share figures on today's split basis. Click a value for its source filing. TTM: trailing twelve months through the latest reported quarter — flows sum the last four quarters, balances take the latest. 3Y/5Y/10Y columns are trailing CAGR from the newest fiscal year; blank where an endpoint is missing or negative. (G): the company's own guidance — a (G) column is a guided period not yet reported; a G marker shows how the reported figure landed against the guided range. Non-GAAP-basis guidance (*) is shown as stated and never judged against GAAP actuals.

Capital Returned to Shareholders

Cash spent on share repurchases and dividends per fiscal year, as reported on the cash-flow statement. Across FY2007–FY2025: $48.58B in buybacks, $13.01B in dividends.

Debt Profile

Reported borrowing balances, repayment dates and agreement terms, with links to the underlying filings.

Reported debt balances

Each amount keeps its reported scope. Related balance-sheet measures appear under the borrowing they describe.

Reported balance	As of	Amount	Source
Long-term debt, including current maturities	2026-09-30	USD 30,757,000,000	10-Q filed 2026-10-21
Related accounting measures — not additional borrowing Carrying amounts can reflect issuance costs or discounts. Differences between these measures are not necessarily repayments due within a year. Current portion of long-term debt USD 375,000,000 Noncurrent debt carrying amount USD 30,382,000,000
Short-term borrowings	2026-09-30	USD 0	10-Q filed 2026-10-21

Instrument and agreement coverage is incomplete. Additional filings are awaiting review.

Covenants

Covenant terms have not yet been verified for this profile.

The balance figures do not establish whether covenants apply or whether the company complies with them.

Loans, facilities and notes

The instrument breakdown is not yet verified. Read the debt note in the linked report for borrowing terms and maturity conditions.

Price & Valuation

Multiples computed on the strict TTM/EV methodology — today's snapshot against peers, and each ratio recomputed as of past filing dates.

Valuation

EV/Revenue

0.57×

Peer median 0.37×

EV/EBIT

21.28×

Peer median 17.20×

P/E (TTM)

18.69×

Peer median 23.02×

Peer medians compare against the 7 similar-size Healthcare Plans companies (of 13 listed).

Valuation over time computed as of each quarter's filing date

Revenue Breakdown

Annual revenue as the company disaggregates it in its own XBRL filings. Years a component wasn't reported show a dash.

Share mode is each component's slice of the reported components that year — issuers rarely tag every revenue dollar, so slices need not sum to total revenue.

By Segment (USD)

Component	FY2025	FY2024	FY2023	FY2022
Reportable Segments	$199,125,000,000	$177,011,000,000	$171,340,000,000	$156,595,000,000

By Product & Service (USD)

Component	FY2025	FY2024	FY2023	FY2022
Product	$24,470,000,000	$22,630,000,000	$19,452,000,000	$14,978,000,000
Service Fees	$8,475,000,000	$8,408,000,000	$7,903,000,000	$7,453,000,000

Segment Operating Income

Annual operating income by business segment, as tagged in the company's own XBRL filings. Segments need not sum to the consolidated figure — corporate costs and eliminations are typically unallocated.

By Segment (USD)

Component	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Reportable Segments	$7,199,000,000	$7,862,000,000	$8,499,000,000	$8,283,000,000	—	—	—	—
Health Benefits Segment	$4,158,000,000	$6,243,000,000	$6,888,000,000	$6,022,000,000	$5,850,000,000	—	—	—
CarelonRx Segment	$2,418,000,000	$2,172,000,000	$1,975,000,000	$1,868,000,000	$1,684,000,000	$1,361,000,000	—	—
Carelon Services Segment	$960,000,000	$717,000,000	$680,000,000	$535,000,000	$187,000,000	—	—	—
Corporate And Other	-$337,000,000	-$1,270,000,000	-$1,044,000,000	-$142,000,000	—	—	—	—
Other Segment	—	—	—	—	-$9,000,000	—	-$89,000,000	-$102,000,000
Commercial Specialty Business Segment	—	—	—	$2,933,000,000	$2,753,000,000	$2,681,000,000	$4,032,000,000	$3,600,000,000
Corporate Other Segment	—	—	-$1,044,000,000	-$142,000,000	-$162,000,000	—	—	—
Government Business Segment	—	—	—	$3,297,000,000	$3,061,000,000	$2,444,000,000	$2,056,000,000	$1,928,000,000
Other Segment	—	—	—	$354,000,000	-$9,000,000	-$126,000,000	—	—
Segment Eliminations	—	—	$0	$0	$0	—	—	—

Operating Margin by Segment (%)

Component	FY2025	FY2024	FY2023	FY2022
Reportable Segments	3.6%	4.4%	5%	5.3%

Key facts CIK 1156039 CUSIP 036752103 13F (30d) 429 filings 405 filers Visit website Investor relations