ELEVANCE HEALTH, INC.

ELV · CIK 0001156039

19 fiscal years · 69 SEC filings · every number carries its receipt

Revenue (FY)

$199.13B12.5%

FY2025

Net income (FY)

$5.66B5.3%

FY2025

Free cash flow (FY)

$3.17B30.3%

FY2025

Diluted EPS (FY)

$25.211.8%

FY2025

The story, charted

The shape of the business

FY2007–FY2025 · hover any year for its receipt

Revenue & net incomeRevenueNet income

revenue 3.3× since FY2007 · net margin 5.5% → 2.8%

MarginsNet marginFCF margin

FY2025: net 2.8% · free cash flow 1.6% of revenue

Cash engineOperating cash flowFree cash flow

FY2025: $4.29B operating cash − $1.12B capex = $3.17B free cash flow

Returns on capitalReturn on equityReturn on assets

return on equity 12% (FY2008) → 13% (FY2025) · on assets 4.7%

Balance sheetLiabilitiesEquity

FY2025: $121.49B assets · $77.47B liabilities · $43.88B equity

The receipts

Financial statements

Annual Quarterly (as reported)

USD in millions except per-share and share counts. Every value links to the filing it came from — hover for the us-gaap tag, click for the 10-K/10-Q on sec.gov.

USD millions	Q1 2026	Q3 2025	Q2 2025	Q1 2025	Q3 2024	Q2 2024	Q1 2024	Q3 2023	Q2 2023	Q1 2023	Q3 2022	Q2 2022
Revenue	50,181	50,711	49,776	48,891	45,106	43,886	42,577	42,849	43,672	42,172	39,939	38,632
Net income	1,764	1,189	1,743	2,183	1,016	2,300	2,246	1,289	1,853	1,989	1,603	1,637
Diluted EPS	8.00	5.32	7.72	9.61	4.36	9.85	9.59	5.45	7.79	8.30	6.62	6.73
Diluted shares	220	224	226	227	233	233	234	237	238	240	242	243
Operating cash flow	4,332	—	—	1,017	—	—	1,978	—	—	6,469	—	—
Capital expenditures	235	—	—	196	—	—	279	—	—	301	—	—
Free cash flow	4,097	—	—	821	—	—	1,699	—	—	6,168	—	—
Cash & equivalents	9,657	8,713	8,560	7,500	7,866	6,497	6,226	10,919	9,991	10,142	8,872	6,456
Total assets	125,827	122,749	121,938	119,717	116,533	112,988	111,894	110,478	109,168	109,040	103,026	100,877
Total liabilities	81,785	78,667	78,087	77,097	72,654	70,691	71,184	71,939	70,856	71,580	66,983	65,010
Shareholders' equity	43,902	43,953	43,722	42,503	43,775	42,191	40,608	38,423	38,205	37,356	35,991	35,812

Figures as reported in SEC filings, normalized by stonks with the tag mapping shown on hover; missing tags render as “—”, never as zero. Free cash flow is derived (operating cash flow − capex) with both parents recorded in its lineage. Quarterly view shows as-reported 10-Q periods; Q4 synthesis ships in Phase 1. See methodology.