InsiderClue
Stocks · Health care · Hospital & Medical Service Plans

Elevance Health

ELV Clue Score49
United States Fiscal year ends December CIK 0001156039
$412.70 +2.93% Close, 9 Oct 2026
Alert on the numbers Alert on insider trades
Price $412.70 +8.35% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue84.86Operating income4.80Net income2.47EPS, diluted9.21Fiscal year 2017Revenue90.04 +6.1%Operating income4.18Net income3.84 +55.6%EPS, diluted14.35 +55.8%Fiscal year 2018Revenue92.11 +2.3%Operating income5.43Net income3.75 −2.4%EPS, diluted14.19 −1.1%Fiscal year 2019Revenue104.21 +13.1%Operating income6.00Net income4.81 +28.2%EPS, diluted18.47 +30.2%Fiscal year 2020Revenue121.87 +16.9%Operating income6.36Net income4.57 −4.9%EPS, diluted17.98 −2.7%Fiscal year 2021Revenue138.64 +13.8%Operating income7.56Net income6.16 +34.7%EPS, diluted24.95 +38.8%Fiscal year 2022Revenue156.60 +13.0%Operating income8.28Net income5.89 −4.3%EPS, diluted24.28 −2.7%Fiscal year 2023Revenue171.34 +9.4%Operating income8.50Net income5.99 +1.6%EPS, diluted25.22 +3.9%Fiscal year 2024Revenue177.01 +3.3%Operating income7.86Net income5.98 −0.1%EPS, diluted25.68 +1.8%Fiscal year 2025Revenue199.13 +12.5%Operating income7.20Net income5.66 −5.3%EPS, diluted25.21 −1.8%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 84.86 90.04 92.11 104.21 121.87 138.64 156.60 171.34 177.01 199.13
Growth +6.1% +2.3% +13.1% +16.9% +13.8% +13.0% +9.4% +3.3% +12.5%
Operating income 4.80 4.18 5.43 6.00 6.36 7.56 8.28 8.50 7.86 7.20
Net income 2.47 3.84 3.75 4.81 4.57 6.16 5.89 5.99 5.98 5.66
Growth +55.6% −2.4% +28.2% −4.9% +34.7% −4.3% +1.6% −0.1% −5.3%
EPS, diluted 9.21 14.35 14.19 18.47 17.98 24.95 24.28 25.22 25.68 25.21
Growth +55.8% −1.1% +30.2% −2.7% +38.8% −2.7% +3.9% +1.8% −1.8%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Operating marginNet margin
Fiscal year 2016Operating margin5.7%Net margin2.9%Free cash flow margin3.2%Fiscal year 2017Operating margin4.6%Net margin4.3%Free cash flow margin3.8%Fiscal year 2018Operating margin5.9%Net margin4.1%Free cash flow margin2.8%Fiscal year 2019Operating margin5.8%Net margin4.6%Free cash flow margin4.8%Fiscal year 2020Operating margin5.2%Net margin3.8%Free cash flow margin7.9%Fiscal year 2021Operating margin5.5%Net margin4.4%Free cash flow margin5.2%Fiscal year 2022Operating margin5.3%Net margin3.8%Free cash flow margin4.6%Fiscal year 2023Operating margin5.0%Net margin3.5%Free cash flow margin3.9%Fiscal year 2024Operating margin4.4%Net margin3.4%Free cash flow margin2.6%Fiscal year 2025Operating margin3.6%Net margin2.8%Free cash flow margin1.6%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating margin 5.7% 4.6% 5.9% 5.8% 5.2% 5.5% 5.3% 5.0% 4.4% 3.6%
Net margin 2.9% 4.3% 4.1% 4.6% 3.8% 4.4% 3.8% 3.5% 3.4% 2.8%
Free cash flow margin 3.2% 3.8% 2.8% 4.8% 7.9% 5.2% 4.6% 3.9% 2.6% 1.6%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow3.27Capital expenditure−0.58Free cash flow2.69Buybacks0.00Dividends paid−0.68Fiscal year 2017Operating cash flow4.19Capital expenditure−0.79Free cash flow3.39 +26.4%Buybacks−2.00Dividends paid−0.71Fiscal year 2018Operating cash flow3.83Capital expenditure−1.21Free cash flow2.62 −22.8%Buybacks−1.69Dividends paid−0.78Fiscal year 2019Operating cash flow6.06Capital expenditure−1.08Free cash flow4.98 +90.3%Buybacks−1.70Dividends paid−0.82Fiscal year 2020Operating cash flow10.69Capital expenditure−1.02Free cash flow9.67 +94.0%Buybacks−2.70Dividends paid−0.95Fiscal year 2021Operating cash flow8.36Capital expenditure−1.09Free cash flow7.28 −24.7%Buybacks−1.90Dividends paid−1.10Fiscal year 2022Operating cash flow8.40Capital expenditure−1.15Free cash flow7.25 −0.4%Buybacks−2.32Dividends paid−1.23Fiscal year 2023Operating cash flow8.06Capital expenditure−1.30Free cash flow6.77 −6.7%Buybacks−2.68Dividends paid−1.40Fiscal year 2024Operating cash flow5.81Capital expenditure−1.26Free cash flow4.55 −32.7%Buybacks−2.90Dividends paid−1.51Fiscal year 2025Operating cash flow4.29Capital expenditure−1.12Free cash flow3.17 −30.3%Buybacks−2.61Dividends paid−1.53
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 3.27 4.19 3.83 6.06 10.69 8.36 8.40 8.06 5.81 4.29
Capital expenditure −0.58 −0.79 −1.21 −1.08 −1.02 −1.09 −1.15 −1.30 −1.26 −1.12
Free cash flow 2.69 3.39 2.62 4.98 9.67 7.28 7.25 6.77 4.55 3.17
Growth +26.4% −22.8% +90.3% +94.0% −24.7% −0.4% −6.7% −32.7% −30.3%
Buybacks 0.00 −2.00 −1.69 −1.70 −2.70 −1.90 −2.32 −2.68 −2.90 −2.61
Dividends paid −0.68 −0.71 −0.78 −0.82 −0.95 −1.10 −1.23 −1.40 −1.51 −1.53

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash4.08Total debt15.29Net cash (debt)−11.21Shareholders’ equity25.10Debt to equity0.61Fiscal year 2017Cash3.61Total debt18.66Net cash (debt)−15.05Shareholders’ equity26.50Debt to equity0.70Fiscal year 2018Cash3.93Total debt18.07Net cash (debt)−14.13Shareholders’ equity28.54Debt to equity0.63Fiscal year 2019Cash4.94Total debt19.39Net cash (debt)−14.45Shareholders’ equity31.73Debt to equity0.61Fiscal year 2020Cash5.74Total debt20.04Net cash (debt)−14.29Shareholders’ equity33.20Debt to equity0.60Fiscal year 2021Cash4.88Total debt22.76Net cash (debt)−17.88Shareholders’ equity36.06Debt to equity0.63Fiscal year 2022Cash7.39Total debt23.85Net cash (debt)−16.46Shareholders’ equity36.24Debt to equity0.66Fiscal year 2023Cash6.53Total debt24.90Net cash (debt)−18.37Shareholders’ equity39.31Debt to equity0.63Fiscal year 2024Cash8.29Total debt30.87Net cash (debt)−22.58Shareholders’ equity41.32Debt to equity0.75Fiscal year 2025Cash9.49Total debt31.90Net cash (debt)−22.41Shareholders’ equity43.88Debt to equity0.73
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 4.08 3.61 3.93 4.94 5.74 4.88 7.39 6.53 8.29 9.49
Total debt 15.29 18.66 18.07 19.39 20.04 22.76 23.85 24.90 30.87 31.90
Net cash (debt) −11.21 −15.05 −14.13 −14.45 −14.29 −17.88 −16.46 −18.37 −22.58 −22.41
Shareholders’ equity 25.10 26.50 28.54 31.73 33.20 36.06 36.24 39.31 41.32 43.88
Debt to equity 0.61 0.70 0.63 0.61 0.60 0.63 0.66 0.63 0.75 0.73

In billions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Ratios

Percentages worked out from the filed figures; debt to equity in times. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Margins
5.7% 4.6% 5.9% 5.8% 5.2% 5.5% 5.3% 5.0% 4.4% 3.6%
5.4% 4.4% 5.5% 5.7% 5.1% 5.8% 4.9% 4.5% 4.5% 3.4%
2.9% 4.3% 4.1% 4.6% 3.8% 4.4% 3.8% 3.5% 3.4% 2.8%
3.2% 3.8% 2.8% 4.8% 7.9% 5.2% 4.6% 3.9% 2.6% 1.6%
Spending
14.8% 14.0% 15.2% 12.8% 14.3% 11.5% 11.3% 11.7% 11.3% 10.5%
0.7% 0.9% 1.3% 1.0% 0.8% 0.8% 0.7% 0.8% 0.7% 0.6%
45.8% 3.1% 26.0% 19.7% 26.7% 23.1% 22.5% 22.3% 24.5% 15.6%
Returns
9.8% 14.5% 13.1% 15.2% 13.8% 17.1% 16.3% 15.2% 14.5% 12.9%
3.8% 5.4% 5.2% 6.2% 5.3% 6.3% 5.7% 5.5% 5.1% 4.7%
Balance and payout
0.61 0.70 0.63 0.61 0.60 0.63 0.66 0.63 0.75 0.73
61.4% 62.4% 60.1% 59.0% 61.7% 62.9% 64.6% 63.8% 64.6% 63.8%
27.7% 18.3% 20.7% 17.0% 20.9% 17.9% 20.9% 23.3% 25.2% 27.0%
25.5% 79.6% 94.0% 50.5% 37.8% 41.3% 48.9% 60.2% 96.8% 130.2%