Elevance Health Inc. (ELV)

NYSE: ELV · USD

$413

-8.35 (-2.0%)· Recorded snapshot

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StockMarketAgent Research · Analyzed 2026-10-22

Our latest published analysis: ELV rated Hold

Elevance Health Inc.'s published Hold conclusion compares the analysis-date price with fair value and potential value. Read the full report for assumptions, evidence, and material risks.

Fair value

$475 / share

Potential value

$627 / share

Upside to FV

+9.3%

from $413

Moat

7.5/10

Narrow

Read full analysis →View archive · 24mo

9-phase methodology · same model in each published edition

Market cap	$94.1B
Revenue (ttm)	201.8B
Net income (ttm)	5.1B
EPS (ttm)	$23.4
Shares out	216.1M
P/E (trailing)	17.6x
P/E (forward)	13.7x
Dividend	$6.88 (1.67%)
Volume	858,930
Beta	0.71

Market data

Price

Recent price action with selectable time range.

Financial snapshot

Revenue (ttm): 201.8B
Net income (ttm): 5.1B
EPS (ttm): $23.4
P/E (trailing): 17.6x
P/E (forward): 13.7x
Market cap: $94.1B

Item	P1	P2	P3	P4	P5	Trend
Period	2021-12-31	2022-12-31	2023-12-31	2024-12-31	2025-12-31	Trend
Revenue	$138.64B	$156.60B	$171.34B	$177.01B	$199.13B	+9.5%
Gross profit	$35.99B	$39.95B	$47.01B	$49.24B	$50.90B	+9.1%
Operating income	$7.56B	$8.28B	$8.50B	$7.86B	$7.20B	-1.2%
Net income	$6.16B	$5.89B	$5.99B	$5.98B	$5.66B	-2.1%
EPS (diluted)	$24.95	$24.28	$25.22	$25.68	$25.21	+0.3%
EBITDA	$10.03B	$10.13B	$10.49B	$10.48B	$9.66B	-0.9%
R&D	—	—	—	—	—	—
SG&A	$15.92B	$17.70B	$20.09B	$20.03B	$20.98B	+7.2%

Ticker	Name	Market cap	P/E	P/S	ROIC	5Y rev CAGR	1Y total return	Rating
AAPL	Apple Inc.	5T	39.4x	10.8x	101.6%	+6.1%	+28.5%	卖出
ABNB	Airbnb, Inc.	97.8B	37.5x	7.4x	16.8%	+24.4%	+28.5%	卖出
ADBE	Adobe Inc.	97.1B	13.9x	3.7x	57.2%	+11.5%	-30.7%	强力买入
ABBV	AbbVie Inc.	505.6B	80.8x	7.9x	17.7%	+3.7%	+29.1%	卖出
ABT	Abbott Laboratories	177.6B	38.2x	3.7x	7.2%	+2.7%	-17.2%	减持
ALGN	Align Technology Inc.	10.9B	26.6x	2.6x	17.2%	+3.6%	+11.6%	减持

Base and Bull scenarios

Bull20%

Price target

$627.40

+44.5% from spot

Medicare Advantage underwriting margins accelerate toward management target ranges ahead of schedule, supported by Star Rating recoveries and favorable claims development. Carelon secures major third-party external selling wins, expanding service operating margins substantially. Consolidated operating margins expand meaningfully, driving accelerated annual adjusted earnings growth with valuation multiple expansion.

Consolidated operating margins expand above baseline targets by FY2028
Adjusted EPS compounding accelerates well above baseline guidance over the forecast horizon
Terminal valuation multiple expands toward historical upper-quartile levels
CarelonRx and Carelon Services sustain high single-digit annual revenue growth

Base60%

Price target

$474.64

+9.3% from spot

Elevance executes disciplined commercial pricing resets matching low-double-digit cost inflation while state Medicaid rate adjustments gradually restore underwriting margins. Carelon continues steady 5% revenue expansion with 5.3% pharmacy operating margins. Consolidated operating margins normalize from 3.6% in 2025 to 4.2% by 2030, supporting our fair value midpoint of $474.64 (+9.33% implied upside).

Operating margin normalizes gradually toward long-term targets from FY2026 through FY2030
Revenue grows at a steady low-single-digit pace over the multi-year forecast horizon
Adjusted EPS compounding aligns with baseline guidance through FY2027
Terminal multiple holds near historical median levels supported by stable cost of equity

Sensitivity: Ke × terminal growth

The highlighted cell is Fair value when every assumption sits at its base level ($474.64). Each row and column shows what Fair value becomes when one assumption moves.

Ke ↓ / g →	2.0%	2.3%	2.5%	2.8%	3.0%
7.4%	$513	$525	$538	$553	$570
7.9%	$483	$493	$504	$516	$529
8.4%	$458	$466	$475	$484	$495
8.9%	$436	$442	$450	$458	$466
9.4%	$416	$422	$428	$435	$442

Scorecard

Published factor rows and weighted composite

Calendar

Next earnings

Upcoming earnings date and setup when available.

Upcoming

DateLoading

Window—

EPS estimate—

Revenue estimate—

Sector percentile context

Refreshed 2026-10-28 19:55 UTC

Forward P/E13.7

P25 n/aP50 n/aP75 n/a

Trailing P/E19.5

P25 n/aP50 n/aP75 n/a

ROE11.5

P25 n/aP50 n/aP75 n/a

ROIC8.6

P25 n/aP50 n/aP75 n/a

Benchmarks · 1M

All ELV indicators

Market & fundamental data

Available fields

275

Groups with data

Currency

USD

Showing 275 of 275 available metrics for this ticker.

Profile and market data

Ticker identity, listing, currency, market cap, and source dates.

Metric	Value
Amount currency	USD
CIK code	0001156039
Company name	Elevance Health, Inc.
Country	United States
Country code	US
CUSIP number	036752103
Earnings date	2026-10-21
Earnings time	bmo
Employees	97,100
Employees change	-7,100
Employees growth	-6.81%
Enterprise value	$109.7B
Exchange	NYSE
Financial currency	USD
Financial report date	2026-09-30
First seen	2026-05-09
Fiscal year end	December
Founded	1944
In index	SP500
Industry	Healthcare Plans
Is primary listing	Yes
Is SPAC	No
ISIN number	US0367521038
Last 10-K release date	2026-02-06
Last earnings date	2026-10-21
Last refreshed	2026-10-28
Last stock split date	2005-06-01
Last stock split type	Forward
Market cap	$89.3B
Market cap category	Large-Cap
Next earnings date	2027-01-27
Options	Yes
Price	$413.16
Price currency	USD
Sector	Healthcare
SIC code	6324
Stock price date	2026-10-28
Symbol	ELV
U.S. state	Indiana
Website	https://www.elevancehealth.com

Valuation

Multiples, yields, enterprise-value ratios, and valuation checks.

Metric	Value
Adjusted P/E ratio	13.61x
Average P/E ratio (10Y)	16.54x
Average P/E ratio (3Y)	16.27x
Average P/E ratio (5Y)	17.1x
Earnings yield	5.67%
EV/Earnings	21.47x
EV/EBIT	13.74x
EV/EBITDA	12.66x
EV/FCF	16.93x
EV/Sales	0.55x
FCF / EV yield	5.91%
FCF yield	7.25%
Forward EV/Sales	0.55x
Forward P/E	14.34x
Forward P/S	0.45x
Graham number	330.17896
Graham upside	-20.65%
Industry forward P/E	15.1x
Industry P/E	21.51x
Lynch fair value	$117.18
Lynch upside	-71.84%
P/(FCF - SBC) ratio	14.33x
P/(OCF - SBC) ratio	12.22x
P/B ratio	2.04x
P/E ratio	17.63x
P/FCF ratio	13.8x
P/OCF ratio	11.84x
P/S ratio	0.45x
PEG ratio	3.78x
Price / tangible book value	16.46x
Price/EBITDA ratio	10.32x
Sector forward P/E	23.56x
Sector P/E	50.08x

Profitability

Margins, returns on capital, cash conversion, and quality metrics.

Metric	Value
EBIT margin	3.98%
EBITDA margin	4.32%
Effective tax rate	18.35%
FCF margin	3.23%
Gross margin	26.43%
Operating margin	3.98%
Pretax margin	3.1%
Profit margin	2.55%
Profit per employee	$52,925
Profitable quarters	105
Profitable years	28
Revenue per employee	$2.1M
ROA	4%
ROA (5Y)	5.41%
ROCE	9.89%
ROE	11.48%
ROE (5Y)	15.57%
ROIC	8.65%
ROIC (5Y)	11.02%
SBC / revenue	0.12%
Tax / revenue	0.57%

Growth

Revenue, earnings, cash-flow, and forward growth indicators.

Metric	Value
EPS growth	-3.9%
EPS growth (Q)	17.86%
EPS growth (QoQ)	-6.56%
EPS growth 10Y	10.65%
EPS growth 3Y	-2.28%
EPS growth 5Y	1.06%
EPS growth quarters	1
EPS growth years	0
FCF growth	72.92%
FCF growth (Q)	29.03%
FCF growth (QoQ)	-38.5%
FCF growth 3Y	-7.56%
FCF growth 5Y	-7.23%
Net income growth	-7.12%
Net income growth (Q)	14.8%
Net income growth (QoQ)	-6.7%
Net income growth 3Y	-5.01%
Net income growth 5Y	-1.41%
Net income growth quarters	1
Net income growth years	0
OCF growth	54.64%
OCF growth (Q)	11.63%
OCF growth (QoQ)	-33.77%
OCF growth 10Y	6.78%
OCF growth 3Y	-7.23%
OCF growth 5Y	-6.28%
Revenue growth	3.6%
Revenue growth (Q)	1.42%
Revenue growth (QoQ)	1.89%
Revenue growth 10Y	9.24%
Revenue growth 3Y	6.17%
Revenue growth 5Y	8.56%
Revenue growth quarters	56
Revenue growth years	15

Financial statements

Income-statement and cash-flow amounts, totals and per share.

Metric	Value
Capital expenditures	$-1.1B
EBIT	$8B
EBITDA	$8.7B
EPS	$23.44
FCF per share	$30.15
Financing cash flow	$-2.9B
Free cash flow	$6.5B
Free cash flow minus SBC	$6.3B
Gross profit	$53.3B
Income taxes	$1.1B
Investing cash flow	$-3B
Net borrowing	$588M
Net cash flow	$1.6B
Net income	$5.1B
Operating cash flow minus SBC	$7.4B
Operating income	$8B
Revenue	$201.8B
Stock-based compensation	$240M

Financial strength

Debt, cash, solvency, accounting-quality, and balance-sheet signals.

Metric	Value
Book value per share	$206.75
Debt / EBITDA	3.47
Debt / equity	0.69
Debt / FCF	4.72
Goodwill	$28.3B
Interest coverage	5.55
Net cash (debt)	$-20.4B
Net cash / market cap	-22.7%
Net debt / EBITDA	2.34
Net debt / equity	0.46
Net debt / FCF	3.13
Piotroski F-Score	5
Property, plant and equipment	$4.6B
Shareholders' equity	$44.8B
Tangible book value	$5.5B
Tangible book value per share	$25.27
Total assets	$127.8B
Total cash	$37.8B
Total debt	$30.8B
Total liabilities	$83B
WACC	7.06%

Liquidity

Current-asset coverage and working-capital efficiency metrics.

Metric	Value
Asset turnover	1.61
Current ratio	1.47
Net working capital	$11.9B
Quick ratio	1.34
Working capital	$21.9B

Dividends and buybacks

Dividend yield, payout, buybacks, and shareholder-yield indicators.

Metric	Value
Buyback yield / dilution	3.33%
Dividend growth	0.58%
Dividend growth (10Y)	10.22%
Dividend growth (3Y)	5.14%
Dividend growth (5Y)	8.77%
Dividend growth years	14
Dividend payment date	2026-12-18
Dividend payment years	16
Dividend payout frequency	Quarterly
Dividend per share	$6.88
Dividend yield	1.67%
Ex-dividend date	2026-12-04
FCF payout ratio	22.82%
Last dividend	$1.72
Payout ratio	29.36%
Shareholder yield	4.98%

Performance and technicals

Returns, volatility, beta, momentum, RSI, and moving-average context.

Metric	Value
10Y price change	233.74%
10Y return CAGR	14.38%
10Y total return	283.02%
150-day SMA	$387.05
15Y price change	483.92%
15Y return CAGR	14.21%
15Y total return	633.32%
1D price change	-1.98%
1M price change	4.05%
1M total return	4.05%
1W price change	-6.37%
1W total return	-6.37%
1Y price change	20.33%
1Y return CAGR	22.74%
1Y total return	22.73%
20-day SMA	$418.38
200-day SMA	$371.85
20Y price change	437.68%
20Y return CAGR	10.08%
20Y total return	582.73%
3M price change	8.93%
3M total return	9.4%
3Y price change	-6.64%
3Y return CAGR	-0.62%
3Y total return	-1.84%
50-day SMA	$409.57
50-day SMA vs 200-day SMA	50over200
52-week high	$450.69
52-week high date	2026-10-21
52-week low	$274.84
52-week low date	2026-03-09
5Y price change	-4.97%
5Y return CAGR	0.44%
5Y total return	2.24%
6M price change	15.73%
6M total return	16.7%
All-time high	$567.26
All-time high date	2024-09-03
All-time low	$20.18
All-time low date	2001-10-30
Average true range (ATR)	$11.87
Average volume	1.3M
Beta (1Y)	0.76
Beta (2Y)	0.44
Beta (5Y)	0.71
Change from 52-week high	-8.33%
Change from 52-week low	50.33%
Change from all-time high	-27.35%
Change from all-time low	1,942.78%
Change from open	-1.86%
Day's gap	-0.12%
Dollar volume	$354.9M
High price	$423.55
Low price	$411.92
Monthly RSI	54.22
Open price	$420.99
Position in 52-week range	10.66%
Premarket change	-0.35%
Premarket close	$421.49
Premarket price	$420.00
Previous close	$421.49
Price vs 150-day SMA	6.48%
Price vs 20-day SMA	-1.49%
Price vs 200-day SMA	10.83%
Price vs 50-day SMA	0.63%
Relative volume	0.66
RSI	46
Sharpe ratio	0.65
Sharpe ratio (3Y)	-0.01
Sharpe ratio (5Y)	0.04
Sortino ratio	1.04
Sortino ratio (3Y)	0.15
Sortino ratio (5Y)	0.24
Volume	858.9K
Weekly RSI	55.24
YTD price change	17.57%
YTD total return	19.29%

Ownership and float

Institutional, insider, float, short-interest, and share-count fields.

Metric	Value
Float	215.6M
Float percentage	99.77%
Shares change (QoQ)	-0.14%
Shares change (YoY)	-3.33%
Shares held by insiders	0.11%
Shares held by institutions	95.7%
Shares outstanding	216.1M
Short % of float	2.25%
Short % of shares	2.25%
Short ratio	3.9 days

Deeper analysis on ELV

14 sections in the full report · jump straight to what you need

Forecast

Base and Bull forecast paths with report-date return framing.

→

Valuation

Fair-value bridge, DCF, owner earnings, and peer multiples.

→

Sensitivity

Cost-of-equity and terminal-growth stress table.

→

Risks

Kill scenarios, soft-pass flags, and downside catalysts.

→

Earnings

Next earnings setup and beat / inline / miss thresholds.

→

Position sizing

Entry, exit, conviction, and quarterly monitoring rules.

→

Financials

Revenue, margins, cash flow, and balance-sheet context.

→

Peers

Relative valuation and profitability against the cohort.

→

Moat

Economic-profit evidence and competitive advantage risk.

→

Industry cycle

Sector phase, capital cycle, and secular tailwinds.

→

Quote this valuation with its source: Fair value, Potential value and the price at analysis.

Frequently asked questions

About this ELV report

What is the latest published ELV stock rating?

Elevance Health Inc. is shown with Hold in the latest published report, analyzed 2026-10-22. The hub links directly to the full analysis surface where the dated rating, fair-value bridge, risks, and scorecard are documented together.

Where can I read the full ELV analysis?

The full latest published report, analyzed 2026-10-22, lives at /stocks/ELV/analysis. The bare ticker page summarizes that read and links to each analysis tab; earlier editions remain under /analysis/archive.

What fair value is used for ELV?

The latest published report analyzed 2026-10-22 gives ELV a fair value of USD 475 and a potential value of USD 627. These are dated research outputs, not live market prices; review the valuation assumptions, sensitivity analysis, and material risks before making a decision.

How often is the ELV page updated?

The hub selects the latest published stock report regardless of age and displays its analysis date (2026-10-22). Separately sourced market data is labeled with its own recorded timestamp and is never inferred from the report.

HoldELV · Fair value $475+9.3%

Read full analysis →

Elevance Health Inc. (ELV)

Our latest published analysis: ELV rated Hold

Price

Financial snapshot

Fair-value bridge

Latest news · ELV

Valuation

Profitability

Balance sheet

Trading

Base and Bull scenarios

Sensitivity: Ke × terminal growth

Scorecard

Next earnings

Sector percentile context

All ELV indicators

Profile and market data

Valuation

Profitability

Growth

Financial statements

Financial strength

Liquidity

Dividends and buybacks

Performance and technicals

Ownership and float

Deeper analysis on ELV

Frequently asked questions

评级历史

Category	Score	Reading
Valuation	6.0
Management	8.5
Balance Sheet	7.0
Profitability	5.0
Revenue Growth	4.5
Risk Assessment	7.5
Competitive Moat	7.5
Earnings Quality	3.5
Capital Efficiency	5.5