Stocktoria

Elevance Health, Inc. ELV

NYSE · stock · Hospital & Medical Service Plans · website · IPO 2001-10-30 · LEI

Elevance Health, Inc. statistics & valuation

P / E15.2×
P / S0.4×
P / B1.9×
P / FCF27.0×
Net margin2.8%
FCF margin1.6%
Net debt$22.4B
Net debt / EBITDA2.6×
Enterprise value USD$108.2B
EV / EBITDA12.4×
Earnings yield EBIT/EV6.7%
Return on capital8.9%
Graham number -16.5%$333.45

Market cap as of 2026-06-29. Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value ($333.45); a green figure means the price is below it.

Profitability & efficiency

Net margin (%)
2.90% 4.30% 4.10% 4.60% 3.80% 4.40% 3.80% 3.50% 3.40% 2.80% 2016201720182019202020212022202320242025
Gross margin (%)
2016201720182019202020212022202320242025
Operating margin (%)
5.70% 4.60% 5.90% 5.80% 5.20% 5.50% 5.30% 5.00% 4.40% 3.60% 2016201720182019202020212022202320242025
Return on equity (%)
9.80% 14.50% 13.10% 15.20% 13.80% 17.00% 16.20% 15.20% 14.40% 12.90% 2016201720182019202020212022202320242025
Shares outstanding
268.1M 267.8M 264.2M 260.3M 254.3M 246.8M 242.8M 237.4M 232.9M 224.6M 2016201720182019202020212022202320242025
Net debt ($)
$11.21B $15.05B $14.13B $14.45B $14.29B $17.88B $16.46B $18.37B $22.58B $22.41B 2016201720182019202020212022202320242025
Share buybacks ($)
2016201720182019202020212022202320242025
Return on assets (%)
3.80% 5.40% 5.20% 6.20% 5.30% 6.30% 5.70% 5.50% 5.10% 4.70% 2016201720182019202020212022202320242025
Free cash flow margin (%)
3.20% 3.80% 2.80% 4.80% 7.90% 5.20% 4.60% 3.90% 2.60% 1.60% 2016201720182019202020212022202320242025
Debt / equity (×)
0.61× 0.70× 0.63× 0.61× 0.60× 0.63× 0.66× 0.63× 0.75× 0.72× 2016201720182019202020212022202320242025
EPS ($)
$9.21 $14.35 $14.19 $18.47 $17.98 $24.95 $24.28 $25.22 $25.68 $25.21 2016201720182019202020212022202320242025

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

Elevance Health, Inc. trades at about 15.8× earnings — near its 10-year norm (10-year range 13.7×–21.4×, median 17.3×).

13.7× 21.4×

Shaded band = 10-year range (13.7×–21.4×); dot = today's 15.8×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating margin3.6%4.4%5.0%5.3%5.5%5.2%5.8%5.9%4.6%5.7%
Net margin2.8%3.4%3.5%3.8%4.4%3.8%4.6%4.1%4.3%2.9%
FCF margin1.6%2.6%3.9%4.6%5.2%7.9%4.8%2.8%3.8%3.2%
Return on assets4.7%5.1%5.5%5.7%6.3%5.3%6.2%5.2%5.4%3.8%
Return on equity12.9%14.4%15.2%16.2%17.0%13.8%15.2%13.1%14.5%9.8%
Debt / equity0.72×0.75×0.63×0.66×0.63×0.60×0.61×0.63×0.70×0.61×
Current ratio1.541.451.441.401.471.551.661.561.551.61

Computed from company filings · US · as of 2025-12-31. Facts plus Stocktoria's own computed scores — not investment advice.