Elevance Health

Health Care Managed Health Care Indianapolis, Indiana Last filing Feb 6, 2026 · FY2025

                    Revenue
                    FY2025
                
$199.1B
                    3y CAGR +8.3%
                    
                    P66
                    
                    +12.5%
                    
                    Net income
                    FY2025
                
$5.7B
                    Net margin +2.8%
                    
                    P23
                    
                    -5.3%
                    
                    Total assets
                    FY2025
                
$121.5B
                    ROA +4.7%
                    
                    P43
                    
                    +3.9%
                    
                    Operating cash flow
                    FY2025
                
$4.3B
                    FCF margin +1.6%
                    
                    P16
                    
                    -26.1%

19 yrs · FY2007–FY2025 9 filed · 0 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Running CAGR since the earliest displayed year.

Balance Sheet

Assets, liabilities, and equity

28 accounts · 5 years

Total assets $121.5B

Total liabilities $77.5B

Shareholders equity $43.9B

Account	2025	2024	2023	2022	2021
Assets
Cash and Cash Equivalents	+18.1%	+19.3%	+15.6%	+51.4%	—
Short Term Investments	-0.4%	-1.4%	+6.2%	-1.2%	—
Prepaid Expenses	+3.5%	+0.3%	+11.6%	+13.5%	—
Other Current Assets	+3.5%	+0.3%	+11.6%	+13.5%	—
Total Current Assets	+5.4%	+4.9%	+8.4%	+8.8%	—
Property,Plant and Equipment	+4.5%	+5.9%	+5.5%	+10.1%	—
Goodwill	+4.0%	+5.3%	+2.2%	+0.6%	—
Intangible Assets	+1.4%	+4.4%	-1.6%	-2.8%	—
Long Term Investments	+15.4%	+17.9%	+17.7%	+19.0%	—
Other Noncurrent Assets	+7.7%	+7.6%	+7.0%	-0.9%	—
Total Assets	+5.7%	+6.2%	+5.7%	+5.5%	—
Liabilities
Accounts Payable	+10.2%	+11.7%	+17.9%	+12.8%	—
Accrued Liabilities	+4.1%	+5.2%	+9.5%	+13.8%	—
Current Portion of Long Term Debt	-8.9%	+1.0%	+1.6%	-6.2%	—
Other Current Liabilities	+6.9%	+8.5%	+12.3%	+23.4%	—
Total Current Liabilities	+4.1%	+5.2%	+9.5%	+13.8%	—
Long Term Debt	+9.8%	+11.4%	+4.8%	+5.6%	—
Deferred Tax Liabilities	-6.9%	-8.5%	-16.2%	-27.5%	—
Other Noncurrent Liabilities	+19.1%	+25.5%	+1.6%	-7.2%	—
Total Liabilities	+6.0%	+7.2%	+6.5%	+8.2%	—
Equity
Preferred Stock	—	—	—	—	—
Common Stock	+0.0%	+0.0%	+0.0%	+0.0%	—
Additional Paid In Capital	-0.6%	-0.9%	-1.5%	-0.7%	—
Retained Earnings	+6.9%	+7.4%	+8.3%	+9.7%	—
Accumulated Other Comprehensive Income	—	—	—	—	—
Noncontrolling Interest	+20.6%	+17.7%	+20.7%	+27.9%	—
Total Stockholders Equity	+5.0%	+4.6%	+4.4%	+0.7%	—
Total Liabilitiesand Equity	+5.7%	+6.2%	+5.7%	+5.5%	—

Income Statement

Revenue, expense, and profitability

16 accounts · 5 years

Revenue $199.1B

Operating income $7.2B

Net income $5.7B

Account	2025	2024	2023	2022	2021
IncomeStatement
Revenues Total Revenue	+9.5%	+8.5%	+11.2%	+13.0%	—
Expenses Cost of Revenue	+18.1%	+21.9%	+26.0%	+19.6%	—
Expenses Selling,General and Administrative	+7.2%	+8.0%	+12.3%	+11.2%	—
Expenses Depreciation and Amortization	+9.2%	+9.6%	+41.7%	+73.9%	—
Expenses Share Based Compensation	+2.0%	-9.2%	+6.5%	+3.5%	—
Other Income Expense Operating Income	-1.2%	+1.3%	+6.0%	+9.6%	—
Other Income Expense Interest Income	+12.0%	+13.7%	+14.7%	+7.7%	—
Other Income Expense Interest Expense	+15.1%	+14.1%	+13.6%	+6.6%	—
Other Income Expense Income Before Tax	-4.3%	-0.4%	-1.8%	-4.9%	—
Income Tax Income Tax Expense	-13.2%	+1.5%	-3.4%	-7.3%	—
net Income net Income	-2.1%	-1.0%	-1.4%	-4.3%	—
net Income Comprehensive Income	+2.2%	+1.8%	+10.9%	-38.2%	—
Earnings Per Share Basic Eps	+0.0%	+0.7%	+0.2%	-2.8%	—
Earnings Per Share Diluted Eps	+0.3%	+1.0%	+0.5%	-2.7%	—
Earnings Per Share Weighted Average Shares Basic	-2.1%	-1.7%	-1.6%	-1.6%	—
Earnings Per Share Weighted Average Shares Diluted	-2.3%	-1.9%	-1.9%	-1.6%	—

Cash Flow Statement

Operating, investing, and financing flows

24 accounts · 5 years

Operating cash flow $4.3B

Investing cash flow $-1.3B

Financing cash flow $-1.7B

Account	2025	2024	2023	2022	2021
CashFlow
Operating Activities net Income	-2.1%	-1.0%	-1.4%	-4.3%	—
Operating Activities Depreciation and Amortization	-8.8%	-8.3%	-11.3%	-9.6%	—
Operating Activities Stock Based Compensation	+2.0%	-9.2%	+6.5%	+3.5%	—
Operating Activities Deferred Income Taxes	—	—	—	—	—
Operating Activities Changes In Operating Assets and Liabilities	—	—	—	—	—
Operating Activities net Cash From Operating Activities	-15.4%	-11.4%	-1.8%	+0.4%	—
Investing Activities Capital Expenditures	+0.7%	+4.9%	+9.2%	+6.0%	—
Investing Activities Business Acquisitions	—	+11.4%	-33.2%	-81.3%	—
Investing Activities Purchases of Investments	-5.3%	-1.2%	-6.7%	+33.6%	—
Investing Activities Proceeds From Sale of Investments	-20.1%	-22.5%	-17.7%	+144.5%	—
Investing Activities Other Investing Activities	—	+25.3%	+27.2%	+90.5%	—
Investing Activities net Cash From Investing Activities	—	—	—	—	—
Financing Activities Proceeds From Debt	-3.6%	+30.6%	-13.8%	-11.3%	—
Financing Activities Repayment of Debt	+19.1%	+15.6%	+33.7%	+77.8%	—
Financing Activities Repurchase of Common Stock	+8.2%	+15.1%	+18.7%	+21.9%	—
Financing Activities Dividends Paid	+8.5%	+11.0%	+12.4%	+11.3%	—
Financing Activities Proceeds From Stock Issuance	-29.2%	-8.8%	-34.5%	-40.9%	—
Financing Activities Tax Withholding On Stock Based Compensation	-25.2%	+2.2%	-1.5%	-8.8%	—
Financing Activities Other Financing Activities	-5.0%	-58.0%	-49.1%	+51.9%	—
Financing Activities net Cash From Financing Activities	—	+41.3%	—	—	—
Cash Reconciliation Effect of Exchange Rate On Cash	—	—	—	—	—
Cash Reconciliation net Change In Cash	—	—	—	—	—
Cash Reconciliation Cash At Beginning of Period	+18.1%	+19.3%	+15.6%	+51.4%	—
Cash Reconciliation Cash At End of Period	+18.1%	+19.3%	+15.6%	+51.4%	—

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 5 years

Ratio	2025	2024	2023	2022	2021
Profitability
Gross margin	+89.4%	+88.8%	+89.9%	+91.7%	+92.1%
Operating margin	+3.6%	+4.4%	+5.0%	+5.3%	+5.5%
Net margin	+2.8%	+3.4%	+3.5%	+3.8%	+4.4%
FCF margin	+1.6%	+2.6%	+3.9%	+4.6%	+5.2%
Growth
Revenue CAGR (3y)	+8.3%	+8.5%	+12.0%	+14.5%	+14.6%
Returns
ROE	+12.9%	+14.5%	+15.2%	+16.2%	+17.1%
ROA	+4.7%	+5.1%	+5.5%	+5.7%	+6.3%
ROIC	+9.2%	+9.3%	+11.4%	+12.2%	+10.8%
Liquidity
Current ratio	1.54x	1.45x	1.44x	1.40x	1.47x
Quick ratio	—	—	—	—	—
Leverage
D/E	1.77x	1.83x	1.77x	1.83x	1.70x
Interest coverage	5.13x	6.63x	8.25x	9.73x	9.47x
Efficiency
Asset turnover	1.64x	1.51x	1.57x	1.52x	1.42x
Cash conversion cycle	—	—	—	—	—

Valuation

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Elevance Health

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