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ELVElevance Health Inc.
$418.85$91.0B
Overview & Verdict
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ELV logoElevance Health Inc.(ELV)Earnings, Financials & Key Ratios

ELV•NYSE•Insurance & Managed Care
$418.85
16.7× P/E·Price updated Jul 7, 2026
SectorHealthcareIndustryHealth InsuranceSub-IndustryNational Multi-Line Health Insurers
AboutElevance Health Inc. operates as a health benefits company. It supports consumers, families, and communities across the entire care journey connecting to the care, support, and resources to lead healthier lives. It serves approximately 118 million people through a portfolio of medical, digital, pharmacy, behavioral, clinical, and care solutions. The company was formerly known as Anthem, Inc. and changed its name to Elevance Health Inc. in June 2022. Elevance Health Inc. was founded in 1944 and is headquartered in Indianapolis, Indiana.Show more
  • Revenue$199.13B+12.6%
  • Combined Ratio95.93%+1.0%
  • Net Income$5.66B-5.3%
  • Return on Equity13.25%-10.4%
  • Medical Cost Ratio74.44%+3.2%
  • Operating Margin4.07%-19.0%
  • Net Margin2.84%-15.9%
  • ROA4.75%-10.3%
  • Equity / Assets36.24%+2.2%

ELV Price & Volume

Elevance Health Inc. (ELV) stock price & volume — 10-year historical chart

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Margin Compression Challenges Elevance Health Growth Trajectory

Investment Thesis • Updated 2026Q1

VerdictNegative
Growth:Decelerating
Profitability:Strained
Financial:Mixed
Cash Flow:Mixed
Primary Risk:Medical loss ratio volatility

Key Thesis Takeaways

  • Elevance Health faces significant headwinds as revenue growth decelerated to 2.6% in 2026Q1, compounded by persistent margin compression and high medical utilization costs.
  • While the company maintains a liquidity buffer with a 1.48 current ratio, the reliance on debt-funded expansion and volatile earnings suggests a precarious path forward.
  • Investors should monitor the sustainability of cash flows, which remain sensitive to non-operating items and aggressive capital allocation strategies like the $1.1 billion in share repurchases executed in 2026Q1.

Verdict Logic

the company's 16.8% year-over-year EPS decline in 2026Q1 and high sensitivity to medical loss ratio volatility suggest significant operational risks that outweigh the current 14.69 forward P/E valuation.

ELV Growth Metrics

Elevance Health Inc. (ELV) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years9.65%
5 Years10.32%
3 Years8.34%
TTM9.44%

Profit CAGR

10 Years8.26%
5 Years4.37%
3 Years-1.33%
TTM-11.39%

EPS CAGR

10 Years10.35%
5 Years6.92%
3 Years1.14%
TTM-8.27%

Return on Capital

10 Years9.79%
5 Years9.85%
3 Years9.25%
Last Year8.15%

ELV Recent Earnings

Elevance Health Inc. (ELV) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 10/12 qtrs (83%)●Beat Revenue 11/12 qtrs (92%)
Q2 2026Latest
Apr 22, 2026
Metric
Actual
Est
EPS
$12.58+16.3%
$10.82
Rev
$49.5B+2.7%
$48.2B
Q1 2026
Jan 28, 2026
Metric
Actual
Est
EPS
$3.33+7.4%
$3.10
Rev
$49.3B-1.1%
$49.8B
Q4 2025
Oct 21, 2025
Metric
Actual
Est
EPS
$6.03+22.3%
$4.93
Rev
$50.7B+2.7%
$49.4B
Q3 2025
Jul 17, 2025
Metric
Actual
Est
EPS
$8.84-0.8%
$8.91
Rev
$49.8B+3.3%
$48.2B
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q2 2026LatestApr 22, 2026
$12.58vs $10.82+16.3%
$49.5Bvs $48.2B+2.7%
Q1 2026Jan 28, 2026
$3.33vs $3.10+7.4%
$49.3Bvs $49.8B-1.1%
Q4 2025Oct 21, 2025
$6.03vs $4.93+22.3%
$50.7Bvs $49.4B+2.7%
Q3 2025Jul 17, 2025
$8.84vs $8.91-0.8%
$49.8Bvs $48.2B+3.3%
Based on last 12 quarters of dataView full earnings history →

Latest ELV News

Recent stock market news and headlines for Elevance Health Inc. (ELV)

Business Wire·1 day ago
Elevance Health to Hold Conference Call and Webcast to Discuss Second Quarter 2026 Results on July 15, 2026

INDIANAPOLIS--(BUSINESS WIRE)--Elevance Health (NYSE: ELV) will release second quarter 2026 financial results on July 15, 2026, at 6:00 a.m. Eastern Daylight Time (“EDT”). Management will review these results and its outlook during a conference call at 8:30 a.m. EDT that same morning. The conference call should be accessed at least 15 minutes prior to its start with the following numbers: 888-947-9963 - Access Code - 3972058 (Domestic) 312-470-0178 - Access Code - 3972058 (International) 800-39.

Zacks Investment Research·Jun 26, 2026
Can Carelon Drive Elevance Health's Future Earnings Growth?

Carelon is becoming a major growth driver for ELV, boosting revenues, care efficiency and long-term earnings potential despite near-term investment pressure.

Business Wire·Jun 25, 2026
New Elevance Health Public Policy Institute Study Examines Payment Disputes for Planned Procedures Under the No Surprises Act

INDIANAPOLIS--(BUSINESS WIRE)--The No Surprises Act was created to protect patients from unexpected medical bills. While those patient protections are working, new research from the Elevance Health Public Policy Institute suggests that the law's payment dispute process is producing unexpected results for some planned medical procedures. The findings come as federal IDR volume has grown far beyond initial projections, raising concerns that a process intended as a limited payment-dispute backstop.

Business Wire·Jun 24, 2026
Thomas Carr Howe Middle School Unveils New Fitness and Strength Training Space Through Partnership with Elevance Health and Impact Fitness Foundation

INDIANAPOLIS--(BUSINESS WIRE)--Thomas Carr Howe Middle School today celebrated the unveiling of a newly transformed fitness and strength training space made possible through a partnership with Elevance Health and the Impact Fitness Foundation (IFF). The project marks the fifth consecutive year that Elevance Health and IFF have invested in Indianapolis schools through community fitness initiatives connected to the Elevance Health Women's Fort Myers Tipoff, a premier collegiate basketball tournam.

Zacks Investment Research·Jun 24, 2026
ELV Accelerates Clinical Reviews Through Health OS Platform

Elevance Health's Health OS is cutting review delays and admin work, with early results showing fewer denials and holds as digital healthcare adoption expands.

Peers Comparison

Key metrics vs top competitors for Elevance Health Inc. (ELV)

Full Screener →
CompanyPriceMarket CapP/E RatioRev Growth (1Y)Net MarginROEDiv Yield
ELV logoELVElevance Health Inc.Current
$418.85$90.96B16.6712.62%2.84%13.25%1.65%
UNH logoUNHUnitedHealth Group Incorporated
$428.19$388.86B32.3711.81%2.68%11.54%—
CVS logoCVSCVS Health Corporation
$104.33$133.12B75.067.85%0.72%3.86%—
CI logoCICigna Corporation
$286.62$75.57B12.9311.26%2.26%15.08%—
HUM logoHUMHumana Inc.
$394.62$47.38B40.1010.06%0.82%6.17%—
CNC logoCNCCentene Corporation
$66.12$32.65B-4.8519.44%-3.25%-28.6%—

Compare ELV vs Peers

Elevance Health Inc. (ELV) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs UNH

Most directly comparable listed peer for ELV.

Scale Benchmark

vs CVS

Larger-name benchmark to compare ELV against a more recognizable public peer.

Peer Set

Compare Top 5

vs UNH, CVS, CI, HUM

ELV SEC Filings & Documents

Elevance Health Inc. (ELV) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

Jun 10, 2026·SEC

Material company update

May 13, 2026·SEC

Material company update

Apr 22, 2026·SEC

10-K Annual Reports

3
FY 2026

Feb 6, 2026·SEC

FY 2025

Feb 20, 2025·SEC

FY 2024

Feb 21, 2024·SEC

10-Q Quarterly Reports

6
FY 2026

Apr 22, 2026·SEC

FY 2025

Oct 21, 2025·SEC

FY 2025

Jul 17, 2025·SEC

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ELV Frequently Asked Questions

Elevance Health Inc. (ELV) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials
How fast is Elevance Health Inc. growing?

Elevance Health Inc. (ELV) grew revenue by 12.6% over the past year. This is steady growth.

Is ELV profitable?

Yes, Elevance Health Inc. (ELV) is profitable, generating $5.24B in net income for fiscal year 2025 (2.8% net margin).

Dividend & Returns
Does ELV pay dividends?

Yes, Elevance Health Inc. (ELV) pays a dividend with a yield of 1.65%. This makes it attractive for income-focused investors.

What is ELV's return on equity?

Elevance Health Inc. (ELV) has a return on equity (ROE) of 13.3%. This is reasonable for most industries.

Industry Metrics
What is Elevance Health Inc.'s combined ratio?

Elevance Health Inc. (ELV) has a combined ratio of 95.9%. A ratio below 100% indicates underwriting profitability.

What if you invested $1,000 in ELV back in 2001?

Total return calculator · dividends reinvested · 25+ years of data

See returns →