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Companies / Health Care / Elevance Health
ELV

Elevance Health

Health CareInsuranceS&P 500
Ticker ELVINDIANAPOLIS, INFiscal year ends DecemberBook value per share $204.40Diluted shares 218.6M

Elevance Health, Inc. (NYSE: ELV) is a U.S. health insurer and healthcare services company serving approximately 45.2 million medical members as of December 31, 2025. Its affiliated health plans offer risk-based and fee-based coverage and services to individuals, employers, Medicare and Medicaid beneficiaries, and… From the company’s description.

In fiscal 2025, Elevance Health reported revenue of $199.13B, up 12.5% from fiscal 2024, and net income of $5.66B. Its operating margin was 4.1%, and operations generated $4.29B in cash. Over the twelve months to Sep 30, 2026, revenue was $201.83B.

Fiscal year 2025 · ends 12-31Changes are against fiscal 2024The amber dot is the latest twelve months, to 2026-09-30
Sales & profitability
$199.13BFY2025
+12.5% year over year
Last 12 mo $201.83B
4.07%FY2025
−0.9 percentage points
Last 12 mo 3.28%
$5.66BFY2025
−5.2% year over year
Last 12 mo $5.10B
12.90%FY2025
−1.6 percentage points
Last 12 mo 11.50%
Cash & financing
$4.29BFY2025
−26.1% year over year
Last 12 mo $7.60B
$3.17BFY2025
−30.3% year over year
Last 12 mo $6.51B
0.73FY2025
Was 0.76× a year earlier
Last 12 mo 0.69
224.6MFY2025
−3.6% year over year
Last 12 mo 218.6M

Margins and return on equity change in ; everything else in percent. Fewer shares and less debt are shown plainly, not as bad news — it depends what you make of buybacks. Dotted labels explain each measure. is shown separately from the annual figures.

What Elevance Health does

In the company’s own words

Elevance Health, Inc. (NYSE: ELV) is a U.S. health insurer and healthcare services company serving approximately 45.2 million medical members as of December 31, 2025. Its affiliated health plans offer risk-based and fee-based coverage and services to individuals, employers, Medicare and Medicaid beneficiaries, and federal employees. The company also provides pharmacy, behavioral health, dental, vision, stop-loss and other supplemental services to plan members and external customers. It reports four segments: Health Benefits, which provides health plans and administrative services; CarelonRx, which offers pharmacy benefits, home delivery, specialty pharmacy and infusion services; Carelon Services, which provides care management, behavioral health, provider enablement, analytics and other healthcare services; and Corporate & Other. Its core brands include Anthem Blue Cross and Anthem Blue Cross and Blue Shield, Wellpoint and Carelon. Elevance is an independent licensee of the Blue Cross and Blue Shield Association and operates under its licensed brands in multiple states.

Company details
Sector
Health Care
Industry (SIC)
Insurance
Headquarters
INDIANAPOLIS, IN
Fiscal year end
December
CIK
1156039
SIC
6324

Financial performance, year by year

Fiscal 2013–2025 · USD
$-20.18B$40.37B$100.92B$161.46B$222.01B2013201420152016201720182019202020212022202320242025Last 12 moLast 12 monthsLast 12 months

The full income statement, balance sheet and cash flow for each of these years — every figure traceable to its filing — is on the Financials tab with a free account.

Ownership

Who owns Elevance Health — and what changed

Funds as of 2026Q2 · superinvestors as of 2026-06-30

936
funds hold it
5 of 35
superinvestors hold it
$30.12B
held by funds, at market
36.3%
of shares held by funds
37
bond issues held by funds

Superinvestors in Elevance Health · what they did last quarter

Bill NygrenINCREASED +2.7%
Harris Associates (Oakmark)
2.5%of 13F portfolio
Seth KlarmanUNCHANGED
Baupost Group
9.1%of 13F portfolio
Ruane CunniffDECREASED -29.4%
Ruane, Cunniff & Goldfarb (Sequoia)
5.9%of 13F portfolio

Share of each manager’s reported 13F portfolio. Change is in shares held, since the previous quarter.

Largest fund holders · Elevance Health’s weight in each

VANGUARD TOTAL STOCK MARKET INDEX FUND
VTI · VANGUARD INDEX FUNDS
0.11%of fund net assets
VANGUARD 500 INDEX FUND
VOO · VANGUARD INDEX FUNDS
0.12%of fund net assets
VANGUARD WINDSOR II FUND
VWNFX · VANGUARD WINDSOR FUNDS
—of fund net assets
iShares Core S&P 500 ETF
IVV · iShares Trust
0.13%of fund net assets
Fidelity 500 Index Fund
FXAIX · Fidelity Concord Street Trust
0.13%of fund net assets

Fund ownership is a floor, not a census — pensions, insurers and people holding shares directly are not visible here.

Elevance Health’s bonds, as funds hold them

Funds report holding 37 issues of Elevance Health’s debt, $4.93B at market value — what funds hold, not the company’s total debt. Weighted-average coupon 4.55%, maturing 2026 to 2064.

Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.

Fund ownership is a subset of institutional 13F ownership — the two describe overlapping populations and must not be added together.

Every fund and institutional holder, quarter by quarter, is on the Ownership tab with a free account.

Connected research

Put this business in context.

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  • “How do Elevance Health and its peers compare on margins and cash generation over ten years?”
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