Is Elevance Health (ELV) overvalued or fairly valued?

MarketChacha shows Elevance Health's valuation in context — a trailing P/E of about 14.4, a forward P/E of about 13.2, a price-to-book of about 1.9 — alongside its revenue and profit growth and whether reported profit converts into operating cash, so you can judge value for yourself. MarketChacha does not issue ratings, price targets, or buy/sell advice.

Does Elevance Health's reported profit turn into cash?

Over 3 years, operating cash flow fully covered reported profit — earnings are backed by real cash. MarketChacha computes this cash-conversion check (1.03×) from reported figures — education, not a rating.

What is Elevance Health's revenue?

Elevance Health reported revenue of $199.1B for FY2025, with net profit of $5.7B, per official filings.

What is the share price of Elevance Health (ELV)?

Elevance Health last traded at $398.27 (+2.1% on the day), as of 8/18/2026 — a delayed quote shown for education, not investment advice.

Elevance Health

ELV · NYSE · Healthcare · United States

Snapshot

TickerELV

ExchangeNYSE

SectorHealthcare

IndustryHealthcare Plans

CountryUnited States

Employees96,129

HeadquartersIndianapolis, United States

Websitewww.elevancehealth.com

Filings tracked18

About Elevance Health

Elevance Health, Inc., together with its subsidiaries, operates as a health benefits company in the United States. The company operates in four segments: Health Benefits, CarelonRx, Carelon Services, and Corporate & Other. It offers a variety of health plans and services to individual, employer group risk-based and fee-based, BlueCard, Medicare, Medicaid, and FEP members; health products; a broad array of fee-based administrative managed care services; and specialty and other insurance products and services, such as stop loss, dental, vision, and supplemental health insurance benefits. The company also operates in the pharmacy services business; and markets and offers pharmacy services, including home delivery and specialty pharmacies, claims adjudication, formulary management, pharmacy networks, rebate administration, a prescription drug database, and member services, as well as infusion services and injectable therapies through ambulatory infusion centers. In addition, it provides healthcare related services and capabilities, including specialty care enablement and utilization management support for specialized clinical domains; behavioral health and comprehensive care management services; palliative care services and management; virtual care; and payment integrity, subrogation, clinical data exchange through its HealthOS platform, research and data, reporting and clinical analytics, information technology, and business process support services, as well as manages home health, post-acute institutional management, and durable medical equipment costs; and supports plans in managing home and community-based services. The company provides its services under the Anthem Blue Cross and Blue Shield, Wellpoint, and Carelon brands. 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 based in Indianapolis, Indiana.

Who owns it

Insiders0.2%
Institutions94.1%
Public & other5.8%

2,157 institutional holders

Ownership breakdown from public market data.

Top holders

Blackrock Inc.8.76%
Vanguard Capital Management LLC6.48%
State Street Corporation4.81%
Wellington Management Group, LLP4.25%
Vanguard Portfolio Management LLC2.87%
Sanders Capital, LLC2.69%
Geode Capital Management, LLC2.38%
Harris Associates L.P.2.27%

Largest institutional holders — last updated 6/30/2026.

Forensic scorecard

No major accounting red flags in the fundamentals we have — profit is backed by cash and returns look healthy.

Cash conversion1.03×

Over 3 years, operating cash flow fully covered reported profit — earnings are backed by real cash.

Net margin trend3.5% → 2.8%

Margin has held broadly steady over the period — stable profitability.

Growth qualityrev 8% · PAT -3%

Profit growth is broadly tracking revenue growth — the earnings trend looks operational rather than one-off.

Computed by MarketChacha from reported figures (SEC XBRL). Education, not a rating or recommendation.

What's expected next

Next quarter

Rev $48.1B · EPS 2.47

Est. earnings growth -25.9%

Next fiscal year

Rev $200.4B · EPS 29.63

Est. earnings growth +9.1%

Analyst consensus estimates — not the company's own guidance.

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P/E ROE ROCE Margins Market cap

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Financials at a glance

Source: SEC XBRL

Annual

Quarterly · last 8

Revenue (FY2025)

$199.1B

Net margin

2.8%

ROE

12.9%

Revenue CAGR (2y)

+7.8%

Profit CAGR (2y)

-2.8%

EPS (FY2025)

25.21

Net profit (FY2025)

$5.7B

Ask MarketChacha about ELV

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Financials

Yearly

Period	Revenue	Net profit	EPS	Net margin	ROE
FY2025	$199.1B	$5.7B	25.21	2.8%	12.9%
FY2024	$177.0B	$6.0B	25.68	3.4%	14.5%
FY2023	$171.3B	$6.0B	25.22	3.5%	15.2%

Quarterly

Period	Revenue	Net profit	EPS	Net margin
2026Q2	$50.5B	$1.5B	6.71	2.9%
2026Q1	$50.2B	$1.8B	8.00	3.5%
2025Q3	$50.7B	$1.2B	5.32	2.3%
2025Q2	$49.8B	$1.7B	7.72	3.5%
2025Q1	$48.9B	$2.2B	9.61	4.5%
2024Q3	$45.1B	$1.0B	4.36	2.3%
2024Q2	$43.9B	$2.3B	9.85	5.2%
2024Q1	$42.6B	$2.2B	9.59	5.3%
2023Q3	$42.8B	$1.3B	5.45	3.0%
2023Q2	$43.7B	$1.9B	7.79	4.2%
2023Q1	$42.2B	$2.0B	8.30	4.7%

Figures as reported, in reporting currency. Source: SEC XBRL.

Filings & announcements

2026

8-K — Results of operations, Exhibits
SEC7/15/2026material
10-Q filing
SEC7/15/2026
8-K — Reg FD disclosure
SEC6/10/2026material
8-K — Shareholder vote results
SEC5/13/2026material
8-K — Results of operations, Exhibits
SEC4/22/2026material
10-Q filing
SEC4/22/2026
8-K — Reg FD disclosure
SEC3/10/2026material
8-K — Other events
SEC3/2/2026material
8-K — Executive/director change, Reg FD disclosure
SEC2/26/2026material
10-K filing
SEC2/6/2026
8-K — Results of operations, Exhibits
SEC1/28/2026material

2025

8-K — Executive/director change
SEC12/10/2025material
8-K — Reg FD disclosure
SEC11/10/2025material
8-K — Results of operations, Exhibits
SEC10/21/2025material
10-Q filing
SEC10/21/2025
8-K — Other events, Exhibits
SEC9/15/2025material
8-K — Reg FD disclosure
SEC9/4/2025material
8-K — Executive/director change, Exhibits
SEC7/28/2025material

In the news

Education and discussion only — not investment advice. Financials from official filings (SEC/BSE) and reported company statements; market figures (delayed market data) are delayed and shown for reference only. Verify with the linked sources before acting.