Elevance Health Inc. (ELV) Stock

Elevance Health Inc. (ELV) is a Healthcare stock trading at $402.64 (as of 2026-08-24), with a market capitalization of $87.32B and a trailing P/E of 14.1. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Elevance Health Inc. is a health benefits company that provides medical, digital, pharmacy, behavioral, clinical, and care solutions to consumers, families, and communities. The company serves about 118 million people and is headquartered in Indianapolis, Indiana.

Understand Elevance Health Inc.: how it makes money

Elevance Health provides health benefits and related care solutions (medical, digital, pharmacy, behavioral, and clinical services), and it makes money primarily through health benefits operating revenue such as premiums, with additional revenue from product and service fee offerings.

Operating profit is driven by how Elevance converts its large operating revenue base into operating gain across both its Health Benefits and Carelon business engines.

Revenue by segment (latest quarter)
OpRev$49.5B
CorpOther$0.3B

Business quality (Mixed): Scale health benefits provider with low single digit operating margin, plus a second operating engine (Carelon) and smaller product and service fee revenue streams.

Valuation: At 16× earnings, ELV trades 30% above the Insurance average (13×). Note: one-time items can distort reported P/E.

Bull case

  • Two operating engines: The provided operating metrics show operating gain for both the Health Benefits and Carelon segments, including adjusted operating gain.
  • Broad care and solution footprint: Elevance supports consumers and families across the care journey with medical, digital, pharmacy, behavioral, clinical, and care solutions, serving approximately 118 million people.

Bear case

  • Profitability is not high: The company reported an operating margin of 4.2% for the period shown, indicating a relatively thin operating profit profile.
  • Non-premium revenue streams are smaller: Product revenue (4.86B) and service fee revenue (1.93B) are much smaller than overall operating revenue (49.5B), which can limit how much diversification offsets changes in the health benefits core.
Valuation — source: SEC EDGAR (first-party)
Price$402.64
Market Cap$87.32B
P/E Ratio14.1
EV / EBITDA11.4
Price / Book1.94
Price / Sales0.43
FCF Yield19.8%
DCF Value (model)$372.40
DCF Upside vs Price-7.5%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$199.13B
Net Margin2.8%
Revenue Growth (YoY)9.5%
EPS Growth (YoY)34.2%
FCF Growth (YoY)-154.4%
Financial Health — source: SEC EDGAR
Altman Z-Score3.15 (safe)
Piotroski F-Score6/9 (moderate)
Valuation vs Sector & Industry
Stock P/E14.1
Sector P/E (Healthcare)21.7
Industry P/E (Insurance)13.1
vs Sector-34.8%
vs Industry8.2%
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderVANGUARD GROUP INC ($8.07B)
Institutional Holders Tracked10
Congressional Trades (recent)10
Company
SectorHealthcare
IndustryInsurance
CEOGail Koziara Boudreaux
Employees104,200
CountryUS
IPO Date2001-10-30

Related Companies (Insurance; 8 comparable insurers)

  • Centene Corporation (CNC)
  • Cigna Corporation (CI)
  • Humana Inc. (HUM)
  • UnitedHealth Group Incorporated (UNH)
  • Molina Healthcare, Inc. (MOH)
  • Oscar Health, Inc. (OSCR)
  • BERKSHIRE HATHAWAY INC (BRK)
  • The Progressive Corporation (PGR)
ELV earnings history · ELV institutional & insider holders · ELV KPIs & operating metrics · ELV financials · ELV investor presentations & press releases · ELV SEC filings · ELV peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-08-24.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.