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Elevance HealthELV

Managed Health Care · Indianapolis, Indiana · In the S&P 500
Solid businessCheaper than peers
$420.07−0.46%After hours: $420.07 (0.00%)At the close, 30 Oct · Prices from CNBC, may be delayed
▲ 24.9% over 1 year
Elevance Health over 1 yearDaily close, $, to 30 Oct 2026
$300$350$400$450Nov2026MarMayJulSep$420.07$300$400NovMarJul$420.07
Source: Nasdaq daily closes
Market value$90.76B
Price to earnings17.9x
Forward P/E15.4x
Dividend yield1.64%
Year to date+19.8%
One year+24.9%
Next earningsNot scheduled
SectorHealth Care
52-week range (closes)
$280.74$445.28

Quality and valuation

How Elevance Health compares with other health care stocks. A description, not a recommendation.

Elevance Health and 5 managed health care peers. Across: valuation (P/E) against the sector. Up: business quality against the sector. Hover or tap a logo for its numbers.

Business quality: about averageValuation: cheaper than most

An average business among health care companies, priced below most of them.

Elevance Health trades at 15.4 times the next 12 months of expected earnings, against a median of 19.1x for the 65 health care stocks we cover. The quality score blends where it ranks on revenue growth, gross margin, operating margin and free-cash-flow margin (net margin for banks and insurers) over the last 12 months, from SEC filings.

  • Revenue grew slower than the sector median: +3.6% vs +7.8%
  • Keeps more of each sale (gross margin): 89.0% vs 65.3%
  • Less profitable (operating margin): 2.7% vs 13.3%
  • Turns less of its sales into cash: 3.2% vs 15.9%
ELV trades at 15.4x forward earnings, below the sector medianForward p/e, Managed Health Care peers
ELV15.4xNVS17.0xAZN17.5xMRK18.1xUNH18.9xABBV19.6xJNJ25.1xLLY36.3xSector median 19.1xELV15.4xNVS17.0xAZN17.5xMRK18.1xUNH18.9xABBV19.6xJNJ25.1xLLY36.3xSector median 19.1x
Source: CNBC quotes; Mostly Markets
At 17.9x earnings, ELV is pricier than its average since Oct 2024Price over the last 12 months of reported (GAAP) diluted EPS
P/EUsual range (±1 s.d.)
12x15xAverage 15.0x2025202617.9x15xAverage 15.0x2025202617.9x
Source: Nasdaq prices; SEC filings

Financials

From Elevance Health's SEC filings, through the quarter ending 30 Sep 2026. Hover or tap a bar for its value.

Revenue grew 1.4% from a year earlierQuarterly revenue, $bn, latest Q3 ’26
$0bn$20bn$40bnQ4 ’24Q2 ’25Q4 ’25$51.4bnQ3 ’26$0bn$20bn$40bnQ4 ’24Q2 ’25Q4 ’25$51.4bnQ3 ’26
Source: SEC filings
Growth sped up to +1.4% last quarterRevenue growth, year on year, %
0%5%10%Q4 ’24Q2 ’25Q4 ’251.4%Q3 ’260%5%10%Q4 ’24Q2 ’25Q4 ’251.4%Q3 ’26
Source: SEC filings
Operating margin was 2.5% last quarterOperating income as a share of revenue, %
0%2%4%6%Q4 ’24Q2 ’25Q4 ’252.5%Q3 ’260%2%5%Q4 ’24Q2 ’25Q4 ’252.5%Q3 ’26
Source: SEC filings
Free cash flow was $6.5 billion over 12 monthsQuarterly free cash flow (operating cash flow minus capex), $bn
$0bn$2bn$4bnQ4 ’24Q2 ’25Q4 ’25$1.0bnQ3 ’26$0bn$2bn$4bnQ4 ’24Q2 ’25Q4 ’25$1.0bnQ3 ’26
Source: SEC filings
Last 12 monthsELVSector median
Revenue growth+3.6%+7.8%
Gross margin89.0%65.3%
Operating margin2.7%13.3%
Free cash flow margin3.2%15.9%
Price to earnings17.9x30.2x

Stories on Elevance Health

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Similar companies

Managed Health Care, by market value.

CompanyPriceTodayYTDValue
LLYEli Lilly$1,417.54+3.19%+31.9%$1.33T
JNJJohnson & Johnson$273.20−0.73%+32.0%$658B
ABBVAbbVie$294.89+1.41%+29.1%$521B
MRKMerck$149.52+2.18%+42.0%$369B
UNHUnitedHealth$406.97−0.96%+23.3%$365B
NVSNovartis$160.79−0.19%+16.6%$327B
AZNAstraZeneca$186.65+7.02%+6.4%$290B
TMOThermo Fisher Scientific$697.00−1.72%+20.3%$258B