TORVANTA
Health Care · S&P 500 · data as of 2026-10-05

ELV stock analysis: Elevance Health

Elevance Health (ELV) is an S&P 500 company in Managed Health Care. It grades weakest on growth.

The model's view of ELV · subscribers

Where ELV ranks among the 1,500 U.S. stocks the model scores each trading day, its expected return, the evidence for and against it, and whether the model portfolio holds it. The grades below describe the company's data; they are not the model's view.

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What's happening with ELV · updated 2026-10-05 · from prices and SEC filings

ELV price performance

ELV against the S&P 500, one year
+0%+20%ELV +26%S&P 500 +18%2025-09-292026-10-05
Year to date+14.2%S&P 500 +14.5% · behind by 0.3 pts
1 year+14.8%S&P 500 +17.0% · behind by 2.3 pts
3 years-6.5%S&P 500 +89.3% · behind by 95.8 pts
5 years+13.6%S&P 500 +91.3% · behind by 77.7 pts

Total returns with dividends reinvested.

ELV factor grades

Each grade compares ELV with the rest of its sector (A+ best, F worst); the numbers behind it are shown with the typical figure for its peers.

B+ValueP/E 17.5x (sector 25.5x)FCF yield 7.4% (sector 4.8%)
C-GrowthRevenue growth +6% (sector +7%)EPS growth -4% (sector +12%)
CProfitabilityOperating margin 2.7% (sector 14.1%)ROIC 7.0% (sector 10.8%)
CMomentum12-month change +15%From 52-wk high -7%

ELV in plain numbers

ELV key statistics

SectorHealth Care
IndustryManaged Health Care
IndexS&P 500
Market value$85.6B
Revenue growth (y/y)+6%
Free-cash-flow yield7.4%
Dividend yield1.7%
Next earnings (expected)2026-10-20
Valuation measures
Market value$85.6B
Enterprise value$106.4B
P/E (trailing)17.5x
Forward P/E (Torvanta estimate)17.2x
Price / sales0.4x
Price / book1.9x
EV / revenue0.5x
EV / EBITDA15.3x
Financial highlights
Revenue, last 12 months$201.1B
Net income, last 12 months$5.0B
EPS, last 12 months (GAAP)$22.57
Gross margin89.1%
Operating margin2.7%
Net margin2.5%
Return on equity11.2%
Return on invested capital7.0%
Cash$10.2B
Total debt$31.0B
Debt / equity0.69x
Free cash flow, last 12 months$6.3B
Interest cover3.8x
Current ratio1.52x

Company figures from its latest SEC filings; market value and returns from end-of-day prices.

ELV earnings trends

Revenue vs earnings
$0$12.7B$25.4B$38.0B$50.7BSep 2024 Revenue: $45.1BDec 2024 Revenue: $45.4BMar 2025 Revenue: $48.9BJun 2025 Revenue: $49.8BSep 2025 Revenue: $50.7BDec 2025 Revenue: $49.7BMar 2026 Revenue: $50.2BJun 2026 Revenue: $50.5BSep 2024 Net income: $1.0BDec 2024 Net income: $418.0MMar 2025 Net income: $2.2BJun 2025 Net income: $1.7BSep 2025 Net income: $1.2BDec 2025 Net income: $547.0MMar 2026 Net income: $1.8BJun 2026 Net income: $1.5BSep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Net margin: 2.3%Net margin: 0.9%Net margin: 4.5%Net margin: 3.5%Net margin: 2.3%Net margin: 1.1%Net margin: 3.5%Net margin: 2.9%0%2%4%■ Revenue ■ Net income ━ Net margin
Earnings per share$0.0$2.4$4.8$7.2$9.6Sep 2024 EPS (GAAP, diluted): $4.4Dec 2024 EPS (GAAP, diluted): $1.9Mar 2025 EPS (GAAP, diluted): $9.6Jun 2025 EPS (GAAP, diluted): $7.7Sep 2025 EPS (GAAP, diluted): $5.3Dec 2025 EPS (GAAP, diluted): $2.5Mar 2026 EPS (GAAP, diluted): $8.0Jun 2026 EPS (GAAP, diluted): $6.7Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026■ EPS (GAAP, diluted) Change from a year earlier: Sep 2025 +22% · Dec 2025 +36% · Mar 2026 -17% · Jun 2026 -13%

From the company's 10-Q and 10-K filings with the SEC.

Elevance Health financials (from SEC filings)

Fiscal yearFY2021FY2022FY2023FY2024FY2025
Revenue$138.6B$156.6B$171.3B$177.0B$199.1B
Net income$6.1B$6.0B$6.0B$6.0B$5.7B
EPS (GAAP)$24.73$24.81$25.20$25.67$25.19
Free cash flow$7.3B$7.2B$6.8B$4.6B$3.2B

ELV earnings history

ReportedEPS (GAAP)EPS y/yRevenue y/yStock vs S&P 500, 2 days
2026-07-15$6.71-13%+1%-12.5%
2026-04-22$8.00-17%+3%+4.9%
2026-01-28$2.54+36%+9%+7.7%
2025-10-21$5.32+22%+12%-2.0%
2025-07-17$7.72-22%+13%-20.1%
2025-04-22$9.61+0%+15%+0.8%

About Elevance Health

HeadquartersIndianapolis, IN
Industry (SEC code)Hospital & Medical Service Plans
Fiscal year endsDecember 31
Incorporated inIN
Listed onNYSE
FormerlyAnthem, Inc., WELLPOINT, INC, WELLPOINT INC, ANTHEM INC

From the company's SEC registration record.

Companies similar to ELV

CompanyMarket valueP/ERevenue growthOperating margin12-month change
ELV Elevance Health$85.6B17.5x+6%2.7%+15%
HUM Humana$48.5B43.1x+14%1.8%+44%compare
CNC Centene$31.8Bn/a+14%-2.8%+66%compare
UNH UnitedHealth$339.8B24.3x+6%4.8%+8%compare

All Health Care stock ratings

Frequently asked questions

Is ELV stock a buy?

Torvanta does not tell individuals what to buy. Its grades for ELV are shown above. Subscribers see the model's rank, expected return and whether the model portfolio holds it. This is research, not a recommendation.

What is ELV's P/E ratio?

ELV trades at about 17.5 times its last 12 months of GAAP earnings reported to the SEC, and about 17.2 times Torvanta's own estimate of the next 12 months.

When does ELV report earnings next?

Based on its filing history, Torvanta expects Elevance Health to report around 2026-10-20.

Does ELV pay a dividend?

Yes. Its dividend yield is about 1.7%, and it has raised its dividend 14 years in a row.

How has ELV performed against the S&P 500?

Over the past year ELV returned +14.8%, against +17.0% for the S&P 500, dividends reinvested.

See the model's view

Subscribers get the model's rank and expected return for every covered company, the reasoning behind each, and the Torvanta model portfolio's trades each trading day, sized and explained, at three risk levels.

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Torvanta is research only - not investment advice and not a recommendation to buy or sell any security. Grades describe a company's reported data against its sector; they are not the model's view, change as data changes and can be wrong. Financial figures come from the company's SEC filings; returns include reinvested dividends. Past performance does not predict future results.

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