Elevance Health (ELV): financials, SEC filings and peers

Elevance Health (ELV) is a managed health care company in the Health Care sector of the S&P 500, headquartered in Indianapolis, Indiana.

It was founded in 2014 and joined the S&P 500 on July 25, 2002.

Its fiscal year ends in December, and its shares trade on the NYSE.

In its SEC filings it is classified as “Hospital & Medical Service Plans”.

Elevance Health at a glance

Revenue (12 months): $201.1B
Revenue growth: +6.3%
Operating margin: 2.7%
Net income (12 months): $5.0B
Free cash flow (12 months): $6.3B
Cash: $10.2B
Debt: $31.0B
Diluted EPS (12 months): $22.57

Twelve months to June 30, 2026, from the 10-Q filed July 15, 2026.

Latest twelve months

Over the twelve months to June 30, 2026, Elevance Health reported revenue of $201.1 billion, about the same as a year earlier (+6.3%).

Its operating margin was 2.7%, down 1.3 percentage points from a year earlier: for every $100 of sales, about $3 was left as operating profit.

Net income was $5.0 billion (2.5% of revenue), 7.4% lower than a year earlier.

Profit fell while sales grew, which usually points to higher costs, heavier investment or one-time items. The filings explain which.

Operating cash flow was $7.5 billion and capital spending $1.2 billion, leaving free cash flow of $6.3 billion (3.1% of revenue).

At the end of the period it held $10.2 billion in cash and $31.0 billion in debt, a net debt position of $20.8 billion.

The diluted share count fell 3.5% in a year, typically the result of buybacks.

Five-year trend

Revenue went from $121.9 billion in fiscal 2020 to $199.1 billion in fiscal 2025, about 10.3% a year.
Revenue has grown for 5 fiscal years in a row.
Operating margin has been steady, around 3.6%.
Free cash flow was positive in each of the last 6 fiscal years.

Fiscal year	2021	2022	2023	2024	2025
Revenue	$138.6B	$156.6B	$171.3B	$177.0B	$199.1B
Revenue growth	13.8%	13.0%	9.4%	3.3%	12.5%
Operating margin	5.5%	5.3%	5.0%	4.4%	3.6%
Net income	$6.2B	$5.9B	$6.0B	$6.0B	$5.7B
Free cash flow	$7.3B	$7.2B	$6.8B	$4.6B	$3.2B
Diluted EPS	$24.95	$24.28	$25.22	$25.68	$25.21

Fiscal years as reported in Elevance Health’s 10-K filings. Free cash flow is operating cash flow minus capital spending.

Recent SEC filings

8-K filed September 10, 2026 — Regulation FD disclosure
10-Q filed July 15, 2026 — quarterly report
8-K filed July 15, 2026 — Earnings results
8-K filed June 10, 2026 — Regulation FD disclosure
8-K filed May 13, 2026 — Shareholder vote results
10-Q filed April 22, 2026 — quarterly report
8-K filed April 22, 2026 — Earnings results
8-K filed March 10, 2026 — Regulation FD disclosure

All Elevance Health filings on SEC EDGAR

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Questions about Elevance Health

Is Elevance Health's revenue growing?

Yes. Revenue for the twelve months to June 30, 2026 was $201.1 billion, up 6.3% from a year earlier, according to its SEC filings.

Is Elevance Health profitable?

Yes. It earned $5.0 billion in net income over the twelve months to June 30, 2026, a net margin of 2.5%.

Does Elevance Health have more cash or more debt?

At June 30, 2026 it had $10.2 billion in cash and $31.0 billion in debt, so more debt than cash.

When did Elevance Health last file financial results?

Its latest quarterly report (10-Q) was filed with the SEC on July 15, 2026.

Which companies are similar to Elevance Health?

In the S&P 500, Elevance Health is grouped in Managed Health Care within the Health Care sector. Centene Corporation (CNC), Humana (HUM), UnitedHealth Group (UNH) are in the same group.

Understand the numbers

Source: Elevance Health’s filings with the U.S. Securities and Exchange Commission (EDGAR), retrieved September 27, 2026. Figures are as reported by the company and may be restated. This page is for information only and is not financial advice.