Elevance Health, Inc. (ELV)
Health Care · Managed Health Care · US stock · S&P 500 component
$428.26
▼ -0.17 (0.04%)
Fair valueUndervalued
$684 +59.6% to fair value
$342fair band $478–$889$1,025
Day's range
$426.72 – $434.00
52-week range
$270.87 – $434.35
About Elevance Health, Inc.
Elevance Health is one of the largest health insurers in the United States and operates Anthem-branded Blue Cross Blue Shield plans in several states. It offers commercial, Medicare and Medicaid coverage, and it also runs pharmacy benefit, care delivery and data services through its Carelon businesses. Revenue comes mainly from premiums paid by employers, individuals and government programs, and profit depends on how medical costs compare with those premiums.
Revenue has grown 8.3% a year over three years, leaving the last twelve months at $201.1 billion. Operating margin is 2.7%. Return on invested capital comes to 12%. Net debt to EBITDA is -0.7 times, which means the company holds more cash than debt. A dividend is paid, with a yield of 1.6%. This gives an X-Ray Score of 62 out of 100.
Written with AI from public information and the filing figures on this page, then checked automatically for unsupported numbers. It can contain mistakes: read the company's own filings below before relying on it.
Price chart
52-wk range $270.87 – $434.35Volume 1,220,097Daily, split-adjusted
Vitals
Market cap$93.3B
52-week range$270.87 – $434.35
Volume (last day)1,220,097
P/E (TTM)19.1
EBIT / EV yield6.2%
Free-cash-flow yield6.7%
Dividend yield1.6%
Revenue (TTM)$201.1B
Net income (TTM)$5.0B
Operating margin2.7%
Return on capital11.5%
Debt incl. leases$31.0B
Cash & securities$36.0B
Debt = borrowings plus lease liabilities. Cash & securities = cash, equivalents and short-term marketable securities (long-term securities are not counted, so net cash can be understated for companies like Apple). Net debt = debt minus cash & securities. Source: latest SEC 10-Q/10-K. EBIT / EV yield = operating profit divided by market cap plus net debt.
Fair value estimate
$684model spread $653 – $723
Undervalued
+59.6% to fair value
Equal blend of three models: peer multiples, a fundamentals-adjusted multiple (growth, ROIC and margin) and a 10-year DCF scaled to the market's average. Earnings-power value (no growth) is a floor and not part of the blend. Model uncertainty is Medium, so the safety margin is 30%.
Price $428
Undervalued < $478Fair $478 – $889Overvalued > $889
10-year DCF (market-scaled)
$676
Peer multiples
$631
Earnings power floor (not blended)
$475
Fundamentals-adjusted multiple
$744
Growth the price implies
8.1%/yr
A model estimate, not a price target or recommendation. Inputs: risk-free 5.09%, equity risk premium 4.23% (Damodaran). How it works.
What this means
Average business at a low price
Our models put fair value above today's price, but models can be wrong, so check the business first. A high score does not guarantee a good outcome; it shifts the odds a little. Use the checklist as a prompt for your own research.
Before you invest · decision checklist
Ticked boxes are filled in from our data; the rest are yours to answer.
The five-lens scan
Every score explained in one sentence, ranked against Health Care peers. Open a lens to see the numbers behind it.
Valuation
Strong
83/100
Cheap against its sector on earnings and cash flow.
See the numbers →
EBIT / EV yield6.2%
Free-cash-flow yield6.7%
Fair value vs price1.6×
Growth
Fair
53/100
Growing at a typical pace for its sector.
See the numbers →
Revenue growth (3y)8.3%
EPS growth (3y)1.3%
Growth consistency100%
Profitability
Fair
55/100
Returns on capital are typical for its sector.
See the numbers →
Return on invested capital11.5%
Operating margin2.7%
Gross profitability141.8%
Financial health
Fair
53/100
Balance sheet is in typical shape for its sector.
See the numbers →
Piotroski F-Score7 / 9
Net debt / EBITDA-0.7×
Interest cover3.8×
Dividends
Fair
65/100
Dividend is typical for its sector.
See the numbers →
Dividend yield1.6%
Dividends vs free cash flow24%
Dividend growth7.6%
Quarterly results: last 6 quarters
+14.8%
Mar '25
+13.4%
Jun '25
+12.4%
Sep '25
+9.5%
Dec '25
+2.6%
Mar '26
+1.4%
Jun '26
Revenue against the same quarter a year earlier. Latest quarter revenue $50.5B, diluted EPS $6.71.
Compare with peers
UNH Unitedhealth Group Inc59 HUM Humana Inc51 CNC Centene Corp46Other Managed Health Care companies by X-Ray Score.
Fundamentals checklist
● 6 Good · ● 6 Average · ● 4 BadCash quality
Earnings backed by cashBad
Free-cash-flow yieldGood
Risk models
Altman Z''Average
Piotroski F-ScoreAverage
Growth
EPS growth (3y)Average
Free-cash-flow growth (3y)Bad
Revenue growth (3y)Average
Growth consistencyGood
Balance sheet
Current ratioAverage
Net debt / EBITDAGood
Interest coverBad
Valuation
Fair value vs priceGood
EBIT / EV yieldGood
Profitability
Return on invested capitalAverage
Operating marginBad
Gross profitabilityGood
Each check is graded against the company's sector, not a fixed number. Checklist score 56/100.
Financials
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Revenue | $138.6B | $156.6B | $171.3B | $177.0B | $199.1B |
| Operating income | $7.6B | $8.3B | $8.5B | $7.9B | $7.2B |
| Net income | $6.2B | $5.9B | $6.0B | $6.0B | $5.7B |
| Operating cash flow | $8.4B | $8.4B | $8.1B | $5.8B | $4.3B |
| Operating margin | 5.5% | 5.3% | 5.0% | 4.4% | 3.6% |
| Free cash flow | $7.3B | $7.2B | $6.8B | $4.6B | $3.2B |
| Diluted EPS | $24.95 | $24.28 | $25.22 | $25.68 | $25.21 |
Fiscal years, from SEC filings.
Technical summary
Daily
Strongly bullish
12 bullish · 1 neutral · 3 bearish
Weekly
Strongly bullish
11 bullish · 1 neutral · 0 bearish
Monthly
Strongly bullish
6 bullish · 1 neutral · 1 bearish
Moving averages (daily)
| SMA 10 | 414.5 | Bullish |
| EMA 10 | 417.2 | Bullish |
| SMA 20 | 404.7 | Bullish |
| EMA 20 | 410.6 | Bullish |
| SMA 50 | 403.0 | Bullish |
| EMA 50 | 403.4 | Bullish |
| SMA 100 | 398.6 | Bullish |
| EMA 100 | 393.0 | Bullish |
| SMA 200 | 366.6 | Bullish |
| EMA 200 | 377.9 | Bullish |
Oscillators (daily)
| RSI (14) | 67.19 | Neutral |
| MACD (12, 26) | 6.69 | Bullish |
| Momentum (12) | 10.14 | Bullish |
| Stochastic %K (14) | 90.15 | Bearish |
| Williams %R (14) | -9.85 | Bearish |
| CCI (20) | 138.6 | Bearish |
Pivot points (classic, last session)
S3 418.0 | S2 422.4 | S1 425.3 | Pivot 429.7 | R1 432.6 | R2 436.9 | R3 439.9 |
Signals describe what the chart is doing, not what to do. Moving averages: price above the average is bullish. Oscillators use the usual thresholds (RSI 30/70, Stochastic 20/80, CCI ±100, Williams %R −80/−20; MACD and momentum above zero are bullish). Weekly and monthly views use closing prices only.
Dividends
Paid, last 12 months
6.87 USD
Yield on today's price
1.60%
Frequency
Quarterly
Next ex-dividend date
Not announced
| Ex-dividend date | Amount per share |
|---|---|
| 10 Sep 2026 | 1.7200 |
| 10 Jun 2026 | 1.7200 |
| 10 Mar 2026 | 1.7200 |
| 5 Dec 2025 | 1.7100 |
| 10 Sep 2025 | 1.7100 |
| 10 Jun 2025 | 1.7100 |
| 10 Mar 2025 | 1.7100 |
| 5 Dec 2024 | 1.6300 |
| 10 Sep 2024 | 1.6300 |
| 10 Jun 2024 | 1.6300 |
| 7 Mar 2024 | 1.6300 |
| 5 Dec 2023 | 1.4800 |
Ex-dividend dates and amounts from EODHD. Shown as declared, before tax.
ELV SEC filings
10 Sep 2026
8-KSEC EDGAR
Regulation FD disclosure
15 Jul 2026
10-QSEC EDGAR
Quarterly report
15 Jul 2026
8-KSEC EDGAR
Results of operations
10 Jun 2026
8-KSEC EDGAR
Regulation FD disclosure
13 May 2026
8-KSEC EDGAR
Shareholder vote results
22 Apr 2026
10-QSEC EDGAR
Quarterly report
22 Apr 2026
8-KSEC EDGAR
Results of operations
27 Mar 2026
DEF 14ASEC EDGAR
Proxy statement
Where the numbers come from
Statements SEC EDGAR filings (10-K, 10-Q), quarters derived from year-to-date figures.
Prices end-of-day closes, split-adjusted.
Industry inputs beta, multiples and equity risk premium from Damodaran Online (NYU Stern).
StocksXray is for education only and is not financial advice. Scores and fair values are model estimates from public filings and carry uncertainty.