Elevance Health, Inc. (ELV) Financial Statements
Industry: Hospital & Medical Service Plans
In fiscal 2025, Elevance Health reported revenue of $199.12B, up 12.5% from $177.01B the year before. Net income was $5.66B (a 2.8% net margin), or $25.21 per diluted share. Gross margin was 89.4% and operating margin was 3.6%. Operating activities generated $4.29B of cash, leaving $3.17B of free cash flow. At fiscal year end, Elevance Health held $121.49B in total assets against $77.47B in total liabilities, including $9.49B of cash and equivalents.
Open the full interactive Elevance Health financials → Quarterly statements, key ratios, valuation history and price charts.
Elevance Health Key Stats
| Share Price | $425.27 |
|---|---|
| Market Cap | $92.67B |
| P/E Ratio | 16.9 |
| Dividend Yield | 1.63% |
| Revenue YoY Growth | +12.5% |
| 52-Week Range | $276.68 – $425.27 |
| Shares Outstanding | 217.0 million (basic, 2026 Q2) |
Elevance Health Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $121.87B | $138.64B | $156.59B | $171.34B | $177.01B | $199.12B |
| Cost of Goods Sold | $8.95B | $10.89B | $13.04B | $17.29B | $19.75B | $21.18B |
| Gross Profit | $112.91B | $127.74B | $143.56B | $154.05B | $157.26B | $177.95B |
| Operating Income | $6.36B | $7.49B | $8.45B | $8.50B | $7.86B | $7.20B |
| Pre-Tax Income | $6.24B | $7.92B | $7.77B | $7.71B | $7.90B | $6.71B |
| Income Tax | $1.67B | $1.83B | $1.75B | $1.72B | $1.93B | $1.05B |
| Net Income | $4.57B | $6.10B | $6.03B | $5.99B | $5.98B | $5.66B |
| Diluted EPS | $17.98 | $24.73 | $24.81 | $25.22 | $25.68 | $25.21 |
Elevance Health Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $50.71B | $49.75B | $50.18B | $50.47B |
| Net Income | $1.19B | $547.0M | $1.76B | $1.46B |
| Diluted EPS | $5.32 | $2.44 | $8.00 | $6.71 |
Elevance Health Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $5.74B | $4.88B | $7.39B | $6.53B | $8.29B | $9.49B |
| Current Assets | $45.75B | $51.12B | $55.62B | $60.03B | $58.94B | $63.00B |
| Total Assets | $86.61B | $97.46B | $102.77B | $108.93B | $116.89B | $121.49B |
| Current Liabilities | $29.45B | $34.88B | $39.70B | $41.79B | $40.58B | $41.03B |
| Total Long-Term Debt | $20.04B | $22.76B | $23.85B | $24.89B | $30.87B | $31.90B |
| Total Liabilities | $53.42B | $61.33B | $66.38B | $69.52B | $75.46B | $77.47B |
| Shareholders' Equity | $33.20B | $36.06B | $36.31B | $39.31B | $41.31B | $43.88B |
Elevance Health Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | $10.69B | $8.36B | $8.40B | $8.06B | $5.81B | $4.29B |
| Cash From Investing | -$7.32B | -$9.64B | -$4.56B | -$5.57B | -$5.17B | -$1.34B |
| Cash From Financing | -$2.57B | $423.0M | -$1.32B | -$3.35B | $1.19B | -$1.74B |
| Free Cash Flow | $9.67B | $7.28B | $7.25B | $6.76B | $4.55B | $3.17B |
| Dividends Paid | $954.0M | $1.10B | $1.23B | $1.40B | $1.51B | $1.53B |
Figures from Elevance Health's 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full Elevance Health financials page for every line item.
Elevance Health Company Profile
| Ticker | ELV |
|---|---|
| Exchange | NYSE |
| Industry | Hospital & Medical Service Plans |
| Headquarters | Indianapolis, Indiana |
| Incorporated in | Indiana |
| Fiscal Year End | December 31 |
| SEC Filer Category | Large accelerated filer |
| SEC CIK | 0001156039 |
Frequently Asked Questions
What was Elevance Health's revenue in fiscal 2025?
Elevance Health (ELV) reported revenue of $199.12B for fiscal 2025.
What is Elevance Health's annual revenue history?
Elevance Health's annual revenue by fiscal year: 2020: $121.87B; 2021: $138.64B; 2022: $156.59B; 2023: $171.34B; 2024: $177.01B; 2025: $199.12B.
What was Elevance Health's net income in fiscal 2025?
Elevance Health reported net income of $5.66B for fiscal 2025.
What was Elevance Health's earnings per share (EPS) in fiscal 2025?
Elevance Health's diluted EPS was $25.21 for fiscal 2025 (adjusted for any later stock splits).
How much free cash flow did Elevance Health generate in fiscal 2025?
Elevance Health generated $3.17B of free cash flow in fiscal 2025.
What was Elevance Health's revenue last quarter?
In its most recent reported quarter (2026 Q2), Elevance Health reported revenue of $50.47B.
How much debt does Elevance Health have?
Elevance Health reported $31.90B of long-term debt, including the current portion, at the end of fiscal 2025.
How many shares of Elevance Health are outstanding?
Elevance Health reported a weighted average of 217.0 million basic shares outstanding in 2026 Q2.
What is Elevance Health's market cap?
Based on its latest closing price, Elevance Health (ELV) has a market capitalization of about $92.67B.
When does Elevance Health's fiscal year end?
Elevance Health's fiscal year end, as registered with the SEC, is December 31.
Where is Elevance Health headquartered?
Elevance Health lists its business address in Indianapolis, Indiana in its SEC filings.