
Elevance Health, Inc.
NYSE•ELV
CEO: Ms. Gail Koziara Boudreaux
Sector: Healthcare
Industry: Medical - Healthcare Plans
Listing Date: 2001-10-30
Elevance Health, Inc., together with its subsidiaries, operates as a health benefits company in the United States. The company operates through four segments: Health Benefits, CarelonRx, Carelon Services, and Corporate & Other. It offers a variety of health plans and services to program members; health products; an array of fee-based administrative managed care services; and specialty and other insurance products and services, such as stop loss, dental, vision, life, disability, and supplemental health insurance benefits. The company operates in the pharmacy services business; and markets and offers pharmacy services, including pharmacy benefit management, as well as home delivery and specialty pharmacies, claims adjudication, formulary management, pharmacy networks, rebate administration, a prescription drug database, and member services. In addition, it provides healthcare-related services and capabilities, including utilization management, behavioral health, integrated care delivery, palliative care, payment integrity services, subrogation services, and health and wellness programs, as well as services related to data management, information technology, and business operations. Further, the company is involved in the National Government Services business. The company provides its services under the Anthem Blue Cross and Blue Shield, Wellpoint, and Carelon brand names. The company was formerly known as Anthem, Inc. and changed its name to Elevance Health, Inc. in June 2022. Elevance Health, Inc. was incorporated in 2001 and is headquartered in Indianapolis, Indiana.
Contact Information
Market Cap
$82.38B
P/E (TTM)
15.3
47.3
Dividend Yield
1.8%
52W High
$458.75
52W Low
$273.71
52W Range
Rank18Top 5.0%
6.3
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Strong • 6.3 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2016-2025
Financial Dashboard
Q3 2025 Data
Revenue
$50.71B+12.33%
4-Quarter Trend
EPS
$5.32+22.02%
4-Quarter Trend
FCF
$775.00M-66.95%
4-Quarter Trend
2025 Q3 Earnings Highlights
Key Highlights
Quarterly Revenue Growth Strong Total operating revenue reached $50.087B for the quarter, marking a 12.0% increase versus prior year period.
Diluted EPS Jumps 22.0% Diluted EPS for the three months ended was $5.32, reflecting a substantial 22.0% increase compared to 2024.
Medicare Membership Expansion Medicare Advantage membership grew by 198 thousand members, achieving 9.7% growth as of September 30, 2025.
Nine Month Revenue Increased Nine months total operating revenue hit $148.273B, showing 13.9% growth driven by premium rate increases.
Risk Factors
Total Medical Membership Declines Total medical membership decreased by 391 thousand members, a 0.9% reduction, driven by BlueCard and Medicaid attrition.
Benefit Expense Ratio Rising Nine months benefit expense ratio was 88.9%, increasing 170 basis points due to higher medical cost trends.
Nine Month Net Income Down Nine months net income fell 8.0% to $5.115B, primarily due to decreased operating gain in Health Benefits segment.
Litigation Exposure Remains High Ongoing BCBSA Antitrust and Medicare Risk Adjustment litigation continues, with uncertain ultimate outcomes for resolution.
Outlook
Credit Facility Extended Senior revolving credit facility maturity extended to September 2030, increasing available credit capacity to $5.000B.
Integrating Recent Acquisitions Completed acquisitions of Centers and CareBridge, focusing on growth in Medicaid/Medicare populations and care delivery.
Focus on Medicare Star Ratings Future performance hinges on achieving high Medicare Star Ratings (55% of members in 4.0+ rated plans for 2027).
Capital Deployment Review Capital use review includes potential debt repurchases and dividends, subject to liquidity needs and regulatory requirements.
Peer Comparison
Revenue (TTM)
CVS$394.08B
MCK$387.09B
$321.33B
Gross Margin (Latest Quarter)
HUM100.0%
REGN86.1%
GSK73.6%
Key Metrics
Symbol | Market Cap | P/E (TTM) | ROE (TTM) | Debt to Assets |
|---|---|---|---|---|
| BMY | $113.84B | 18.8 | 34.7% | 52.7% |
| HCA | $109.38B | 18.0 | -161.9% | 77.6% |
| MCK | $103.00B | 32.6 | -124.8% | 12.2% |
Long-Term Trends
Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
3.7%
Moderate Growth
4Q Net Income CAGR
41.7%
Profitability Improved
Cash Flow Stability
100%
Strong Cash Flow
Research & Insights
Next earnings:Jan 22, 2026
EPS:$3.19
|Revenue:$49.52B
Reports
All Years
Form 10-Q - Q3 2025
Period End: Sep 30, 2025|Filed: Oct 21, 2025|Revenue: $50.71B+12.3%|EPS: $5.32+22.0%BeatForm 10-Q - Q2 2025
Period End: Jun 30, 2025|Filed: Jul 17, 2025|Revenue: $49.78B+14.0%|EPS: $7.72-22.1%MissForm 10-Q - Q1 2025
Period End: Mar 31, 2025|Filed: Apr 22, 2025|Revenue: $48.89B+14.8%|EPS: $9.64-0.1%MissForm 10-K - FY 2024
Period End: Dec 31, 2024|Filed: Feb 20, 2025|Revenue: $176.81B+3.2%|EPS: $25.81+1.7%BeatForm 10-Q - Q3 2024
Period End: Sep 30, 2024|Filed: Oct 17, 2024|Revenue: $45.15B+5.4%|EPS: $4.36-20.4%MissForm 10-Q - Q2 2024
Period End: Jun 30, 2024|Filed: Jul 17, 2024|Revenue: $43.65B-0.1%|EPS: $9.91+26.6%MeetForm 10-Q - Q1 2024
Period End: Mar 31, 2024|Filed: Apr 18, 2024|Revenue: $42.58B+1.0%|EPS: $9.65+15.3%MissForm 10-K - FY 2023
Period End: Dec 31, 2023|Filed: Feb 21, 2024|Revenue: $171.34B+9.4%|EPS: $25.38+3.3%Beat