Price as of close on Nov 3, 2026 · Financials updated Oct 8, 2026
Basics
Sector
Healthcare
Industry
Healthcare Plans
Country
United States
Market cap
89.7B USD
Enterprise value
88.0B USD
Full-time employees
96,129
Overall health
Strength:its shares are priced lower than most peers relative to what it earnspriced lower than peers for its earnings
Drawback:higher risk than most peers: less short-term liquidity (current ratio 1.52 vs a peer median of 2.59) and more debt relative to equity (0.69× vs a peer median of 0.22×)higher risk: less liquidity (current ratio 1.52 vs peers 2.59) and more debt vs equity (0.69× vs peers 0.22×)
About average: profitability and growth
Ranks #625 of 1,157 healthcare companies (bottom 47%)
Sales growing faster than profits. Since 2022: revenue +27%, operating profit −13%.
Since 2022, Elevance Health's revenue changed +27% while operating profit fell 13%: costs rose faster than sales.
Share count shrinking. Shares outstanding down 8.9% from December 2022 to July 2026.
Elevance Health had 8.9% fewer shares at July 2026 than at December 2022, mainly through buybacks, so each remaining share owns a larger slice of the business.
Annual revenue rose 5 years in a row. Fiscal-year revenue rose from $121.9B in 2020 to $199.1B in 2025.
Elevance Health's fiscal-year revenue rose in each of the five years to 2025, from $121.9B to $199.1B.
Profit is backed by cash. Free cash flow is 127% of reported profit.
Elevance Health's free cash flow is 127% of its reported profit, so its earnings are turning into cash it can reinvest, pay out or use to reduce debt.
Since last quarter: No major changeValuation also moves with the share price every day.
Why it changed since the Oct 27, 2026 close: Score 74 → 76
Peer companies moved+2
Each step re-scores the company against its peers as they were on Oct 28, 2026; the parts add up to the change. Price effects on EBITDA yield are approximate.
Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.
Questions investors ask about Elevance Health
Is Elevance Health getting weaker?
Its latest SEC filing (Jul 15, 2026) showed no major changes. Its overall score is 50/100, up 1 since Oct 28, 2026.
How is Elevance Health valued vs its peers?
Priced lower than most peers relative to what it earns. Valuation scores 76/100 against 1,393 healthcare peers.Earnings yield 5.5% vs a peer median of 1.5% (stronger than 81% of peers).Earnings yield 5.5% vs peers 1.5% (stronger than 81% of peers).
Is Elevance Health growing?
At about the same pace as its peers. Growth scores 45/100 against 1,393 healthcare peers.Earnings per share growth -3.9% vs a peer median of 9.8% (weaker than 62% of peers).Earnings per share growth -3.9% vs peers 9.8% (weaker than 62% of peers).
How profitable is Elevance Health?
About as profitable as its peers. Profitability scores 52/100 against 1,393 healthcare peers.Return on assets 3.9% vs a peer median of 1.7% (stronger than 66% of peers).Return on assets 3.9% vs peers 1.7% (stronger than 66% of peers).Operating margin 2.7% vs a peer median of 7.1% (weaker than 61% of peers).Operating margin 2.7% vs peers 7.1% (weaker than 61% of peers).
How risky is Elevance Health?
Higher risk relative to 1,393 healthcare peers, judged on debt, liquidity and share-price swings.Debt / equity 0.69× vs a peer median of 0.22× (weaker than 74% of peers).Debt / equity 0.69× vs peers 0.22× (weaker than 74% of peers). A relative measure, not a bankruptcy probability.
Latest filing: what changed
Quarter ended Jun 30, 2026 · filed Jul 15, 2026 · compared with the quarter ended Mar 31, 2026
No major changes
Previous quarter
Latest quarter
Change
Revenue (12 months)
200.4B USD
201.1B USD
+0.3%
Net income (12 months)
5.2B USD
5.0B USD
−5.3%
Operating margin
3.1%
2.7%
−0.3 pts
Free cash flow (12 months)
6.5B USD
6.3B USD
−2.5%
Debt
31.8B USD
31.0B USD
−2.5%
Cash
9.7B USD
10.2B USD
+6.0%
Shares outstanding
217.2M
216.9M
−0.1%
From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.
Industry valuation context
Sector: Healthcare · 301 companies
Valuations in Healthcare are within their usual range since 2016.
52% of months since 2016 were valued lower than now.
19% of companies are in the most expensive fifth of their own price-to-sales history.
Over 24 months, company values +8% and earnings +24% (medians): earnings grew faster than prices.
Median price-to-sales is +63% vs the whole market, against a usual +119%.
2016Shaded: most expensive fifth of its range2026
Shown for Healthcare: too few Healthcare Plans companies have a long enough history of their own.
Earnings-based measures are left out for now because many companies in Healthcare are losing money.
Describes valuations since 2016; it does not predict prices. US companies worth $1B+, from SEC filings and month-end prices, as of Aug 2026. Today's companies and industry labels are used throughout. Measured on sales and free cash flow yields. How this works
Financials
Fiscal years from SEC annual filings · change vs the prior year
Key ratios
FY 2021
FY 2022
FY 2023
FY 2024
FY 2025
Change
Operating margin
5.5%
5.3%
5.0%
4.4%
3.6%
▼ 0.8 pts
Net margin
4.4%
3.8%
3.5%
3.4%
2.8%
▼ 0.5 pts
Return on assets (ROA)
6.3%
5.7%
5.5%
5.1%
4.7%
▼ 0.5 pts
Return on equity (ROE)
17.1%
16.3%
15.2%
14.5%
12.9%
▼ 1.6 pts
Debt to equity
0.64×
0.67×
0.64×
0.76×
0.73×
▼ 3.4%
Interest coverage
9.47×
9.73×
8.25×
6.63×
5.13×
▼ 23%
ELV price history
Price history is added with the daily price update and will appear after the next one.