ELV · Elevance Health, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $50.18B | - | $50.71B | $49.78B | $48.89B | - | $45.11B | $43.89B | $42.58B | - |
| Cost of Revenue | $5.46B | - | $5.38B | $5.29B | $4.98B | - | $5.09B | $4.82B | $3.83B | - |
| Gross Profit | $44.72B | - | $45.33B | $44.48B | $43.91B | - | $40.01B | $39.07B | $38.75B | - |
| R&D | - | - | - | - | - | - | - | - | - | - |
| SG&A | $6.33B | - | $5.27B | $5.00B | $5.30B | - | $5.27B | $5.07B | $4.89B | - |
| Total Operating Expenses | - | - | - | - | - | - | - | - | - | - |
| D&A | - | - | - | - | - | - | $220.00M | $0 | - | - |
| Operating Income | $2.09B | - | $1.29B | $2.42B | $3.17B | - | $1.41B | $2.77B | $3.02B | - |
| Interest Expense | $357.00M | - | $351.00M | $341.00M | $265.00M | - | $300.00M | $280.00M | $265.00M | - |
| Income Tax | $544.00M | - | $219.00M | $548.00M | $613.00M | - | $365.00M | $685.00M | $690.00M | - |
| Net Income | $1.76B | - | $1.19B | $1.74B | $2.18B | - | $1.02B | $2.30B | $2.25B | - |
| EPS - Basic | $8.03 | - | $5.32 | $7.74 | $9.64 | - | $4.38 | $9.91 | $9.65 | - |
| EPS - Diluted | $8.00 | - | $5.32 | $7.72 | $9.61 | - | $4.36 | $9.85 | $9.59 | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $9.66B | $9.49B | $8.71B | $8.56B | $7.50B | $8.29B | $7.87B | $6.50B | $6.23B | $6.53B |
| Accounts Receivable | - | - | - | - | - | - | - | - | - | - |
| Inventory | - | - | - | - | - | - | - | - | - | - |
| Accounts Payable | - | - | - | - | - | - | - | - | - | - |
| Current Assets | $67.03B | $63.00B | $63.78B | $63.32B | $61.12B | $58.94B | $62.85B | $62.27B | $60.95B | $60.03B |
| Total Assets | $125.83B | $121.49B | $122.75B | $121.94B | $119.72B | $116.89B | $116.53B | $112.99B | $111.89B | $108.93B |
| Current Liabilities | $45.31B | $41.03B | $40.88B | $43.83B | $42.70B | $40.58B | $42.03B | $41.81B | $44.33B | $41.79B |
| Long-term Debt | $30.77B | $30.80B | $31.17B | $28.18B | $28.11B | $29.22B | $24.69B | $24.56B | $21.98B | $23.25B |
| Total Liabilities | $81.78B | $77.47B | $78.67B | $78.09B | $77.10B | $75.46B | $72.65B | $70.69B | $71.18B | $69.52B |
| Stockholders' Equity | $43.90B | $43.88B | $43.95B | $43.72B | $42.50B | $41.31B | $43.77B | $42.19B | $40.61B | $39.31B |
| Retained Earnings | $35.80B | $35.39B | $35.59B | $35.55B | $34.55B | $33.55B | $35.16B | $34.58B | $33.09B | $31.75B |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $4.33B | - | - | - | $1.02B | - | - | - | $1.98B | - |
| Investing Cash Flow | ($1.64B) | - | - | - | $103.00M | - | - | - | ($2.31B) | - |
| Financing Cash Flow | ($2.52B) | - | - | - | ($1.91B) | - | - | - | $32.00M | - |
| CapEx | $235.00M | - | - | - | $196.00M | - | - | - | $279.00M | - |
| Free Cash Flow | $4.10B | - | - | - | $821.00M | - | - | - | $1.70B | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | 89.1% | - | 89.4% | 89.4% | 89.8% | - | 88.7% | 89.0% | 91.0% | - |
| Operating margin | 4.2% | - | 2.6% | 4.9% | 6.5% | - | 3.1% | 6.3% | 7.1% | - |
| EBITDA margin | - | - | - | - | - | - | 3.6% | 6.3% | - | - |
| Net margin | 3.5% | - | 2.3% | 3.5% | 4.5% | - | 2.3% | 5.2% | 5.3% | - |
| Free cash flow margin | 8.2% | - | - | - | 1.7% | - | - | - | 4.0% | - |
| FCF / Net income | 2.32 | - | - | - | 0.38 | - | - | - | 0.76 | - |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - |
| SG&A / Revenue | 12.6% | - | 10.4% | 10.0% | 10.8% | - | 11.7% | 11.5% | 11.5% | - |
| Effective tax rate | 23.6% | - | 15.6% | 23.9% | 21.9% | - | 26.4% | 22.9% | 23.5% | - |
| Return on assets | 1.4% | - | 1.0% | 1.4% | 1.8% | - | 0.9% | 2.0% | 2.0% | - |
| Return on equity | 4.0% | - | 2.7% | 4.0% | 5.1% | - | 2.3% | 5.5% | 5.5% | - |
| Return on invested capital | 2.1% | - | 1.5% | 2.6% | 3.5% | - | 1.5% | 3.2% | 3.7% | - |
| Liquidity | ||||||||||
| Current ratio | 1.48 | 1.54 | 1.56 | 1.44 | 1.43 | 1.45 | 1.50 | 1.49 | 1.37 | 1.44 |
| Quick ratio | 1.48 | 1.54 | 1.56 | 1.44 | 1.43 | 1.45 | 1.50 | 1.49 | 1.37 | 1.44 |
| Cash ratio | 0.21 | 0.23 | 0.21 | 0.20 | 0.18 | 0.20 | 0.19 | 0.16 | 0.14 | 0.16 |
| Leverage | ||||||||||
| Debt / Equity | 0.70 | 0.70 | 0.71 | 0.64 | 0.66 | 0.71 | 0.56 | 0.58 | 0.54 | 0.59 |
| Debt / Assets | 0.24 | 0.25 | 0.25 | 0.23 | 0.23 | 0.25 | 0.21 | 0.22 | 0.20 | 0.21 |
| Debt / EBITDA | - | - | - | - | - | - | 15.16 | 8.88 | - | - |
| Interest coverage | 5.8x | - | 3.7x | 7.1x | 12.0x | - | 4.7x | 9.9x | 11.4x | - |
| Equity multiplier | 2.87 | 2.77 | 2.79 | 2.79 | 2.82 | 2.83 | 2.66 | 2.68 | 2.76 | 2.77 |
| Liabilities / Assets | 0.65 | 0.64 | 0.64 | 0.64 | 0.64 | 0.65 | 0.62 | 0.63 | 0.64 | 0.64 |
| Efficiency | ||||||||||
| Asset turnover | 0.40 | - | 0.41 | 0.41 | 0.41 | - | 0.39 | 0.39 | 0.38 | - |
| Inventory turnover | - | - | - | - | - | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - | - | - | - | - | - |
| Days inventory outstanding | - | - | - | - | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - | - | - | - | - |
| Valuation | ||||||||||
| P / E | 36.6x | - | 60.7x | 50.4x | 45.3x | - | 119.3x | 55.0x | 54.1x | - |
| P / B | 1.5x | - | 1.6x | 2.0x | 2.3x | - | 2.8x | 3.0x | 3.0x | - |
| P / S | 1.3x | - | 1.4x | 1.8x | 2.0x | - | 2.7x | 2.9x | 2.9x | - |
| EV / EBITDA | - | - | - | - | - | - | 84.8x | 52.3x | - | - |
| Growth | ||||||||||
| Revenue growth (YoY) | 2.6% | - | 12.4% | 13.4% | 14.8% | - | 5.3% | 0.5% | 1.0% | - |
| Revenue CAGR (3y) | 6.0% | - | 8.3% | 8.8% | 8.7% | - | 8.0% | 9.0% | 9.5% | - |
| Revenue CAGR (5y) | 9.2% | - | 10.2% | 11.2% | 10.5% | - | 11.1% | 11.5% | 11.5% | - |
| Gross profit growth (YoY) | 1.8% | - | 13.3% | 13.9% | 13.3% | - | 4.7% | -0.7% | 0.2% | - |
| Operating income growth (YoY) | -34.2% | - | -8.0% | -12.3% | 5.1% | - | -19.8% | 5.2% | 6.5% | - |
| Net income growth (YoY) | -19.2% | - | 17.0% | -24.2% | -2.8% | - | -21.2% | 24.1% | 12.9% | - |
| EPS growth (YoY) | -16.8% | - | 22.0% | -21.6% | 0.2% | - | -20.0% | 26.4% | 15.5% | - |
| EPS CAGR (3y) | -1.2% | - | -7.3% | 4.4% | 9.2% | - | -10.7% | 10.8% | 12.6% | - |
| EPS CAGR (5y) | 3.6% | - | 43.6% | -2.8% | 10.1% | - | -0.8% | 17.7% | 10.2% | - |
| FCF growth (YoY) | 399.0% | - | - | - | -51.7% | - | - | - | -72.5% | - |
| FCF CAGR (5y) | 12.2% | - | - | - | -18.7% | - | - | - | 4.0% | - |
| Book value growth (YoY) | 3.3% | 6.2% | 0.4% | 3.6% | 4.7% | 5.1% | 13.9% | 10.4% | 8.7% | 8.3% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$199.13B totalReportable Segments$199.13B · 100.0%
Product / service
$32.95B totalProduct$24.47B · 74.3%
Service Fees$8.47B · 25.7%
Peer comparison
Same SIC group: Hospital & Medical Service Plans
Comparing Elevance Health against the 5 most active filers in the same SIC group.
Dividends
$6.85/share trailing 12 months · +3.8% YoY
| Ex-date | Per share |
|---|---|
| Mar 10, 2026 | $1.7200 |
| Dec 5, 2025 | $1.7100 |
| Sep 10, 2025 | $1.7100 |
| Jun 10, 2025 | $1.7100 |
| Mar 10, 2025 | $1.7100 |
| Dec 5, 2024 | $1.6300 |
| Sep 10, 2024 | $1.6300 |
| Jun 10, 2024 | $1.6300 |
| Mar 7, 2024 | $1.6300 |
| Dec 5, 2023 | $1.4800 |
| Sep 7, 2023 | $1.4800 |
| Jun 8, 2023 | $1.4800 |
| Mar 9, 2023 | $1.4800 |
| Dec 2, 2022 | $1.2800 |
| Sep 8, 2022 | $1.2800 |
| Jun 9, 2022 | $1.2800 |
| Mar 9, 2022 | $1.2800 |
| Dec 2, 2021 | $1.1300 |
| Sep 9, 2021 | $1.1300 |
| Jun 9, 2021 | $1.1300 |
| Mar 9, 2021 | $1.1300 |
| Dec 4, 2020 | $0.9500 |
| Sep 9, 2020 | $0.9500 |
| Jun 9, 2020 | $0.9500 |