Elevance Health, Inc. ELV

Financials SIC 6324 - Hospital & Medical Service Plans NAICS Finance and Insurance › Insurance Carriers and Related Activities › Insurance Carriers derived NYSE

Elevance Health and its direct and indirect subsidiaries, referred to throughout this document as "we," "us," "our," the "Company" or "Elevance Health," is a leading health company bringing together the concepts of elevate and advance. We are focused on enhancing well-being and advancing health outcomes by delivering integrated, whole health solutions across the care journey. We support consumers throughout their full health journeys with medical, pharmacy, and behavioral health services designed to address their whole health needs. Through this comprehensive approach, we aim to improve the health of the people and communities we serve. We advance our mission by collaborating with care providers and community organizations, fostering innovation that supports growth and equal opportunity for health access, and cultivating a high-performance culture.

Last close 439.95 2026-10-23
Market cap $95.41B 2026-06-30 share count
52-week range 274.84 - 450.69

Valuation FY2025 figures against the last close

P/S0.5x
P/E17.5x
P/FCF30.1x
EV/EBITDA10.5x
Dividend yield1.6%
Diluted EPS25.21

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $199.12B$177.01B$171.34B$156.59B$138.64B$121.87B$104.21B$92.11B$90.04B$84.86B
Cost of revenue $21.18B$19.75B$17.29B$13.04B$10.89B$8.95B$1.99B$0$0—
Gross profit $177.95B$157.26B$154.05B$143.56B$127.74B$112.91B$102.22B$92.11B$90.04B—
SG&A $20.98B$20.02B$20.09B$17.70B$15.92B$17.45B$13.36B$14.02B$12.65B$12.56B
Operating income $7.20B$7.86B$8.50B$8.28B$7.56B$6.36B$6.00B$5.43B$4.17B$4.80B
Interest expense $1.40B$1.19B$1.03B$851.0M$798.0M$784.0M$746.0M$753.0M$739.0M$723.0M
Pre-tax income $6.71B$7.90B$7.71B$7.60B$8.00B$6.24B$5.99B$5.07B$3.96B$4.55B
Income tax $1.05B$1.93B$1.72B$1.71B$1.85B$1.67B$1.18B$1.32B$121.0M$2.08B
Net income $5.66B$5.98B$5.99B$5.89B$6.16B$4.57B$4.81B$3.75B$3.84B$2.47B
EPS, basic 25.2825.8125.3824.5625.2618.2318.8114.5314.709.39
EPS, diluted 25.2125.6825.2224.2824.9517.9818.4714.1914.359.21
Shares, diluted (wtd. avg.) 224.6M232.9M237.4M242.8M246.8M254.3M260.3M264.2M267.8M268.1M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $9.49B$8.29B$6.53B$7.39B$4.88B$5.74B$4.94B$3.93B$3.61B$4.08B
Short-term investments $25.88B$25.20B$29.61B$25.95B$26.27B$23.43B$19.68B$16.69B$17.38B$17.16B
Total current assets $63.00B$58.94B$60.03B$55.62B$51.12B$45.75B$39.03B$34.32B$36.26B$34.31B
Property, plant and equipment $4.68B$4.65B$4.36B$4.32B$3.92B$3.48B$3.13B$2.73B$2.17B$1.98B
Goodwill $28.34B$28.28B$25.32B$24.38B$24.23B$21.69B$20.50B$20.50B$19.23B$17.56B
Other intangibles $11.20B$12.09B$10.27B$10.31B$10.62B$9.40B$8.67B$9.01B$8.37B$7.96B
Total assets $121.49B$116.89B$108.93B$102.75B$97.46B$86.61B$77.45B$71.57B$70.54B$65.08B
Accounts payable $7.32B$6.93B$6.91B$5.61B$4.97B$5.49B$4.20B$4.96B$5.02B$4.01B
Short-term debt $1.10B$1.65B$1.65B$1.50B$1.60B$700.0M$1.60B$849.0M$1.27B$928.4M
Total current liabilities $41.03B$40.58B$41.79B$39.70B$34.88B$29.45B$23.53B$21.96B$23.36B$21.29B
Long-term debt $30.80B$29.22B$23.25B$22.35B$21.16B$19.34B$17.79B$17.22B$17.38B$14.36B
Total liabilities $77.47B$75.46B$69.52B$66.42B$61.33B$53.42B$45.73B$43.03B$44.04B$39.98B
Retained earnings $35.39B$33.55B$31.75B$29.65B$27.09B$23.80B$22.57B$19.99B$18.05B$16.56B
Total equity $43.88B$41.31B$39.41B$36.33B$36.14B$33.19B$31.69B$28.57B$26.50B$25.10B

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $4.29B$5.81B$8.06B$8.40B$8.36B$10.69B$6.06B$3.83B$4.18B$3.27B
Depreciation and amortisation $1.55B$1.39B$1.75B$1.68B$1.30B$1.15B$1.13B$1.13B$111.0M$104.0M
Stock-based compensation $276.0M$191.0M$289.0M$264.0M$255.0M$283.0M$294.0M$226.0M$170.0M$165.0M
Capital expenditure $1.12B$1.26B$1.30B$1.15B$1.09B$1.02B$1.08B$1.21B$791.0M$584.0M
Investing cash flow -$1.34B-$5.17B-$5.57B-$4.56B-$9.64B-$7.32B-$2.79B-$1.26B-$5.08B-$514.0M
Financing cash flow -$1.74B$1.19B-$3.35B-$1.32B$423.0M-$2.57B-$2.27B-$2.24B$427.0M-$799.0M
Dividends paid $1.53B$1.51B$1.40B$1.23B$1.10B$954.0M$818.0M$776.0M$705.0M$684.0M
Buybacks $2.60B$2.90B$2.68B$2.32B$1.90B$2.70B$1.70B$1.69B$2.00B$0

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001156039-26-000013.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. 0 50B 100B 150B 200B Revenue, FY2016: 84.9B Net income, FY2016: 2.5B Revenue, FY2017: 90B Gross profit, FY2017: 90B Net income, FY2017: 3.8B Revenue, FY2018: 92.1B Gross profit, FY2018: 92.1B Net income, FY2018: 3.8B Revenue, FY2019: 104.2B Gross profit, FY2019: 102.2B Net income, FY2019: 4.8B Revenue, FY2020: 121.9B Gross profit, FY2020: 112.9B Net income, FY2020: 4.6B Revenue, FY2021: 138.6B Gross profit, FY2021: 127.7B Net income, FY2021: 6.2B Revenue, FY2022: 156.6B Gross profit, FY2022: 143.6B Net income, FY2022: 5.9B Revenue, FY2023: 171.3B Gross profit, FY2023: 154B Net income, FY2023: 6B Revenue, FY2024: 177B Gross profit, FY2024: 157.3B Net income, FY2024: 6B Revenue, FY2025: 199.1B Gross profit, FY2025: 177.9B Net income, FY2025: 5.7B FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $84.86B $90.04B $92.11B $104.21B $121.87B $138.64B $156.59B $171.34B $177.01B $199.12B
Gross profit — $90.04B $92.11B $102.22B $112.91B $127.74B $143.56B $154.05B $157.26B $177.95B
Net income $2.47B $3.84B $3.75B $4.81B $4.57B $6.16B $5.89B $5.99B $5.98B $5.66B

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Results announced Item 2.02
  • Regulation FD disclosure Item 7.01
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Regulation FD disclosure Item 7.01
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02
  • Officer or director change Item 5.02
  • Regulation FD disclosure Item 7.01

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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