ELV - Elevance Health, Inc.

📈 Is growth accelerating? 7 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗	FY 2008 Dec 31, 2008 10-K ↗	FY 2007 Dec 31, 2007 10-K ↗	FY 2006 Dec 31, 2006 10-K ↗
Revenue Growth YoY (%)	12.5% Good ↑ Good Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+56%)	3.3% Caution ↓ Caution Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-59%)	9.4% Fair ↓ Fair Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+18%)	13.0% Good ↓ Good Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+62%)	13.8% Good ↑ Good Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+72%)	16.9% Good ↑ Good Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+112%)	13.1% Good ↑ Good Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+64%)	2.3% Caution ↓ Caution Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-71%)	6.1% Fair → Fair Stable Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-24%)	7.2% Fair ↓ Fair Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-10%)	7.2% Fair → Fair Stable Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-11%)	4.0% Caution ↓ Caution Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-50%)	15.5% Good ↑ Good Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+94%)	1.3% Caution ↑ Caution Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-84%)	3.4% Caution ↑ Caution Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-57%)	-9.7% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-222%)	6.2% Fair Fair Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-23%)	0.1% Caution Caution Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-98%)	—	—
EPS Growth YoY (%)	-2.1% Weak ↓ Weak Declining Year-over-year change in earnings per share Optimal: > 10%	1.7% Caution ↓ Caution Declining Year-over-year change in earnings per share Optimal: > 10%	3.3% Caution ↓ Caution Declining Year-over-year change in earnings per share Optimal: > 10%	-1.9% Weak ↓ Weak Declining Year-over-year change in earnings per share Optimal: > 10%	37.4% Excellent ↑ Excellent Improving Year-over-year change in earnings per share Optimal: > 10%	-3.1% Weak ↓ Weak Declining Year-over-year change in earnings per share Optimal: > 10%	29.5% Excellent ↑ Excellent Improving Year-over-year change in earnings per share Optimal: > 10%	-1.2% Weak ↓ Weak Declining Year-over-year change in earnings per share Optimal: > 10%	56.5% Excellent ↑ Excellent Improving Year-over-year change in earnings per share Optimal: > 10%	-3.5% Weak ↓ Weak Declining Year-over-year change in earnings per share Optimal: > 10%	4.5% Caution ↓ Caution Declining Year-over-year change in earnings per share Optimal: > 10%	11.6% Fair ↑ Fair Improving Year-over-year change in earnings per share Optimal: > 10%	1.0% Caution ↑ Caution Improving Year-over-year change in earnings per share Optimal: > 10%	12.4% Fair ↓ Fair Declining Year-over-year change in earnings per share Optimal: > 10%	4.6% Caution ↓ Caution Declining Year-over-year change in earnings per share Optimal: > 10%	-29.4% Weak ↓ Weak Declining Year-over-year change in earnings per share Optimal: > 10%	107.9% Excellent Excellent Year-over-year change in earnings per share Optimal: > 10%	-15.1% Weak Weak Year-over-year change in earnings per share Optimal: > 10%	—	—
Net Income Growth YoY (%)	-5.3% Weak ↓ Weak Declining Year-over-year change in net income	-0.1% Weak ↓ Weak Declining Year-over-year change in net income	1.6% Caution ↓ Caution Declining Year-over-year change in net income	-3.4% Weak ↓ Weak Declining Year-over-year change in net income	33.5% Excellent ↑ Excellent Improving Year-over-year change in net income	-4.9% Weak ↓ Weak Declining Year-over-year change in net income	28.2% Excellent ↑ Excellent Improving Year-over-year change in net income	-2.4% Weak ↓ Weak Declining Year-over-year change in net income	55.6% Excellent ↑ Excellent Improving Year-over-year change in net income	-3.5% Weak ↓ Weak Declining Year-over-year change in net income	-0.4% Weak ↑ Weak Improving Year-over-year change in net income	3.2% Caution ↑ Caution Improving Year-over-year change in net income	-6.2% Weak ↑ Weak Improving Year-over-year change in net income	0.3% Caution ↓ Caution Declining Year-over-year change in net income	-8.3% Weak ↓ Weak Declining Year-over-year change in net income	-39.2% Weak ↓ Weak Declining Year-over-year change in net income	90.5% Excellent Excellent Year-over-year change in net income	-25.5% Weak Weak Year-over-year change in net income	—	—
FCF Growth YoY (%)	-27.9% Weak ↓ Weak Declining Year-over-year change in free cash flow	-31.5% Weak ↓ Weak Declining Year-over-year change in free cash flow	-5.0% Weak ↓ Weak Declining Year-over-year change in free cash flow	1.2% Caution ↓ Caution Declining Year-over-year change in free cash flow	-22.6% Weak ↓ Weak Declining Year-over-year change in free cash flow	97.6% Excellent ↑ Excellent Improving Year-over-year change in free cash flow	92.2% Excellent ↑ Excellent Improving Year-over-year change in free cash flow	-21.6% Weak ↓ Weak Declining Year-over-year change in free cash flow	26.7% Excellent ↑ Excellent Improving Year-over-year change in free cash flow	-22.7% Weak ↓ Weak Declining Year-over-year change in free cash flow	37.4% Excellent ↑ Excellent Improving Year-over-year change in free cash flow	19.4% Good ↓ Good Declining Year-over-year change in free cash flow	17.8% Good ↓ Good Declining Year-over-year change in free cash flow	-13.7% Weak ↓ Weak Declining Year-over-year change in free cash flow	237.4% Excellent Excellent Year-over-year change in free cash flow	-57.9% Weak Weak Year-over-year change in free cash flow	—	—	—	—
Revenue CAGR 3Y (%)	8.3% Fair ↓ Fair Declining Compound annual revenue growth over 3 years	8.5% Fair ↓ Fair Declining Compound annual revenue growth over 3 years	12.0% Good ↓ Good Declining Compound annual revenue growth over 3 years	14.5% Good ↑ Good Improving Compound annual revenue growth over 3 years	14.6% Good ↑ Good Improving Compound annual revenue growth over 3 years	10.6% Good ↑ Good Improving Compound annual revenue growth over 3 years	7.1% Fair ↑ Fair Improving Compound annual revenue growth over 3 years	5.2% Fair ↓ Fair Declining Compound annual revenue growth over 3 years	6.8% Fair ↓ Fair Declining Compound annual revenue growth over 3 years	6.1% Fair ↓ Fair Declining Compound annual revenue growth over 3 years	8.8% Fair ↑ Fair Improving Compound annual revenue growth over 3 years	6.8% Fair ↑ Fair Improving Compound annual revenue growth over 3 years	6.6% Fair ↑ Fair Improving Compound annual revenue growth over 3 years	-1.8% Weak ↓ Weak Declining Compound annual revenue growth over 3 years	-0.3% Weak Weak Compound annual revenue growth over 3 years	-1.4% Weak Weak Compound annual revenue growth over 3 years	—	—	—	—
Revenue CAGR 5Y (%)	10.3% Good ↓ Good Declining Compound annual revenue growth over 5 years	11.2% Good → Good Stable Compound annual revenue growth over 5 years	13.2% Excellent ↑ Excellent Improving Compound annual revenue growth over 5 years	11.7% Good ↑ Good Improving Compound annual revenue growth over 5 years	10.3% Good ↑ Good Improving Compound annual revenue growth over 5 years	9.0% Good ↑ Good Improving Compound annual revenue growth over 5 years	7.1% Fair ↑ Fair Improving Compound annual revenue growth over 5 years	5.3% Fair ↓ Fair Declining Compound annual revenue growth over 5 years	7.9% Fair ↑ Fair Improving Compound annual revenue growth over 5 years	6.9% Fair ↑ Fair Improving Compound annual revenue growth over 5 years	6.2% Fair ↑ Fair Improving Compound annual revenue growth over 5 years	2.6% Caution ↑ Caution Improving Compound annual revenue growth over 5 years	3.0% Caution Caution Compound annual revenue growth over 5 years	0.1% Weak Weak Compound annual revenue growth over 5 years	—	—	—	—	—	—
EPS CAGR 3Y (%)	1.0% Caution ↓ Caution Declining Compound annual EPS growth over 3 years	1.0% Caution ↓ Caution Declining Compound annual EPS growth over 3 years	11.7% Good → Good Stable Compound annual EPS growth over 3 years	9.3% Fair ↓ Fair Declining Compound annual EPS growth over 3 years	19.9% Excellent ↑ Excellent Improving Compound annual EPS growth over 3 years	7.4% Fair ↓ Fair Declining Compound annual EPS growth over 3 years	26.1% Excellent ↑ Excellent Improving Compound annual EPS growth over 3 years	14.3% Good ↑ Good Improving Compound annual EPS growth over 3 years	16.4% Excellent ↑ Excellent Improving Compound annual EPS growth over 3 years	4.0% Caution ↓ Caution Declining Compound annual EPS growth over 3 years	5.6% Fair ↑ Fair Improving Compound annual EPS growth over 3 years	8.2% Fair ↑ Fair Improving Compound annual EPS growth over 3 years	5.9% Fair → Fair Stable Compound annual EPS growth over 3 years	-6.0% Weak ↓ Weak Declining Compound annual EPS growth over 3 years	15.3% Excellent Excellent Compound annual EPS growth over 3 years	7.6% Fair Fair Compound annual EPS growth over 3 years	—	—	—	—

💰 Are margins durable? 5 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗	FY 2008 Dec 31, 2008 10-K ↗	FY 2007 Dec 31, 2007 10-K ↗	FY 2006 Dec 31, 2006 10-K ↗
Operating Margin (%) (%)	3.6% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-76%)	4.4% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-70%)	5.0% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-67%)	5.3% Weak → Weak Stable Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-65%)	5.4% Weak → Weak Stable Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-64%)	5.2% Weak → Weak Stable Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-65%)	5.8% Weak ↑ Weak Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-62%)	5.9% Weak ↑ Weak Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-61%)	4.6% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-69%)	5.7% Weak → Weak Stable Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-62%)	6.0% Caution → Caution Stable Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-60%)	6.0% Weak → Weak Stable Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-60%)	5.6% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-62%)	5.9% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-61%)	6.2% Caution ↓ Caution Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-58%)	6.9% Caution Caution Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-54%)	6.4% Caution Caution Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-57%)	—	—	—
Effective Tax Rate (%) (%)	15.6% Good ↓ Good Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	24.5% Fair ↑ Fair Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	22.3% Fair ↓ Fair Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	22.5% Fair → Fair Stable Actual taxes paid relative to pre-tax income Optimal: 15-25%	23.1% Fair → Fair Stable Actual taxes paid relative to pre-tax income Optimal: 15-25%	26.7% Caution ↑ Caution Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	19.7% Good ↓ Good Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	26.0% Caution ↓ Caution Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	3.1% Excellent ↓ Excellent Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	45.8% Weak ↑ Weak Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	44.7% Weak ↑ Weak Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	41.4% Weak ↑ Weak Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	31.4% Weak Weak Actual taxes paid relative to pre-tax income Optimal: 15-25%	31.3% Weak Weak Actual taxes paid relative to pre-tax income Optimal: 15-25%	—	—	—	—	—	—
Profit Margin (%) (%)	2.8% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-76%)	3.4% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-72%)	3.5% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-71%)	3.8% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-69%)	4.4% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-63%)	3.8% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-69%)	4.6% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-62%)	4.1% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-66%)	4.3% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-64%)	2.9% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-76%)	3.2% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-73%)	3.5% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-71%)	3.5% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-71%)	4.3% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-64%)	4.4% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-64%)	4.9% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-59%)	7.3% Caution ↑ Caution Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-39%)	4.1% Weak Weak Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-66%)	5.5% Caution Caution Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-54%)	—
FCF Margin (%) (%)	1.6% Weak ↓ Weak Declining Free cash flow as a percentage of revenue Optimal: > 10%	2.6% Weak ↓ Weak Declining Free cash flow as a percentage of revenue Optimal: > 10%	3.9% Weak ↓ Weak Declining Free cash flow as a percentage of revenue Optimal: > 10%	4.6% Weak ↓ Weak Declining Free cash flow as a percentage of revenue Optimal: > 10%	5.2% Caution → Caution Stable Free cash flow as a percentage of revenue Optimal: > 10%	7.9% Caution ↑ Caution Improving Free cash flow as a percentage of revenue Optimal: > 10%	4.8% Weak ↑ Weak Improving Free cash flow as a percentage of revenue Optimal: > 10%	2.8% Weak ↓ Weak Declining Free cash flow as a percentage of revenue Optimal: > 10%	3.8% Weak → Weak Stable Free cash flow as a percentage of revenue Optimal: > 10%	3.2% Weak ↓ Weak Declining Free cash flow as a percentage of revenue Optimal: > 10%	4.4% Weak ↑ Weak Improving Free cash flow as a percentage of revenue Optimal: > 10%	3.6% Weak ↓ Weak Declining Free cash flow as a percentage of revenue Optimal: > 10%	3.4% Weak → Weak Stable Free cash flow as a percentage of revenue Optimal: > 10%	3.6% Weak → Weak Stable Free cash flow as a percentage of revenue Optimal: > 10%	4.7% Weak ↑ Weak Improving Free cash flow as a percentage of revenue Optimal: > 10%	1.6% Weak ↓ Weak Declining Free cash flow as a percentage of revenue Optimal: > 10%	4.1% Weak ↓ Weak Declining Free cash flow as a percentage of revenue Optimal: > 10%	3.6% Weak Weak Free cash flow as a percentage of revenue Optimal: > 10%	6.6% Caution Caution Free cash flow as a percentage of revenue Optimal: > 10%	—
FCF / Net Income (x)	0.56x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	0.76x Caution ↓ Caution Declining Free cash flow relative to reported net income Optimal: > 1x	1.13x Fair ↓ Fair Declining Free cash flow relative to reported net income Optimal: > 1x	1.23x Good ↓ Good Declining Free cash flow relative to reported net income Optimal: > 1x	1.19x Fair ↓ Fair Declining Free cash flow relative to reported net income Optimal: > 1x	2.11x Excellent ↑ Excellent Improving Free cash flow relative to reported net income Optimal: > 1x	1.04x Fair ↑ Fair Improving Free cash flow relative to reported net income Optimal: > 1x	0.70x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	0.88x Caution ↓ Caution Declining Free cash flow relative to reported net income Optimal: > 1x	1.09x Fair → Fair Stable Free cash flow relative to reported net income Optimal: > 1x	1.36x Good ↑ Good Improving Free cash flow relative to reported net income Optimal: > 1x	1.03x Fair ↑ Fair Improving Free cash flow relative to reported net income Optimal: > 1x	0.97x Caution ↑ Caution Improving Free cash flow relative to reported net income Optimal: > 1x	0.83x Caution ↑ Caution Improving Free cash flow relative to reported net income Optimal: > 1x	1.08x Fair ↑ Fair Improving Free cash flow relative to reported net income Optimal: > 1x	0.33x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	0.56x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	0.88x Caution Caution Free cash flow relative to reported net income Optimal: > 1x	1.20x Good Good Free cash flow relative to reported net income Optimal: > 1x	—

🎯 Is capital allocation efficient? 3 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗	FY 2008 Dec 31, 2008 10-K ↗	FY 2007 Dec 31, 2007 10-K ↗	FY 2006 Dec 31, 2006 10-K ↗
Return on Invested Capital (%)	8.0% Fair ↓ Fair Declining Return earned on debt + equity capital invested Optimal: > 10%	8.2% Fair ↓ Fair Declining Return earned on debt + equity capital invested Optimal: > 10%	10.3% Good ↑ Good Improving Return earned on debt + equity capital invested Optimal: > 10%	10.7% Good ↑ Good Improving Return earned on debt + equity capital invested Optimal: > 10%	9.8% Fair ↑ Fair Improving Return earned on debt + equity capital invested Optimal: > 10%	8.8% Fair → Fair Stable Return earned on debt + equity capital invested Optimal: > 10%	9.4% Fair ↑ Fair Improving Return earned on debt + equity capital invested Optimal: > 10%	8.6% Fair ↑ Fair Improving Return earned on debt + equity capital invested Optimal: > 10%	9.0% Fair ↑ Fair Improving Return earned on debt + equity capital invested Optimal: > 10%	6.4% Caution ↓ Caution Declining Return earned on debt + equity capital invested Optimal: > 10%	6.8% Caution → Caution Stable Return earned on debt + equity capital invested Optimal: > 10%	6.7% Caution ↓ Caution Declining Return earned on debt + equity capital invested Optimal: > 10%	7.1% Fair ↓ Fair Declining Return earned on debt + equity capital invested Optimal: > 10%	6.5% Caution ↓ Caution Declining Return earned on debt + equity capital invested Optimal: > 10%	9.0% Fair ↓ Fair Declining Return earned on debt + equity capital invested Optimal: > 10%	9.9% Fair Fair Return earned on debt + equity capital invested Optimal: > 10%	9.9% Fair Fair Return earned on debt + equity capital invested Optimal: > 10%	—	—	—
Return on Capital (%) (%)	5.9% Caution ↓ Caution Declining Operating profit relative to total assets Optimal: > 10%	6.7% Caution ↓ Caution Declining Operating profit relative to total assets Optimal: > 10%	7.8% Fair → Fair Stable Operating profit relative to total assets Optimal: > 10%	8.1% Fair ↑ Fair Improving Operating profit relative to total assets Optimal: > 10%	7.7% Fair → Fair Stable Operating profit relative to total assets Optimal: > 10%	7.3% Fair → Fair Stable Operating profit relative to total assets Optimal: > 10%	7.7% Fair ↑ Fair Improving Operating profit relative to total assets Optimal: > 10%	7.6% Fair ↑ Fair Improving Operating profit relative to total assets Optimal: > 10%	5.9% Caution ↓ Caution Declining Operating profit relative to total assets Optimal: > 10%	7.4% Fair → Fair Stable Operating profit relative to total assets Optimal: > 10%	7.7% Fair ↑ Fair Improving Operating profit relative to total assets Optimal: > 10%	7.2% Fair ↑ Fair Improving Operating profit relative to total assets Optimal: > 10%	6.7% Caution ↓ Caution Declining Operating profit relative to total assets Optimal: > 10%	6.1% Caution ↓ Caution Declining Operating profit relative to total assets Optimal: > 10%	7.3% Fair ↓ Fair Declining Operating profit relative to total assets Optimal: > 10%	8.1% Fair Fair Operating profit relative to total assets Optimal: > 10%	8.0% Fair Fair Operating profit relative to total assets Optimal: > 10%	—	—	—
Return on Common Equity (%) (%)	12.9% Fair ↓ Fair Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-14%)	14.5% Fair ↓ Fair Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: At sector avg	15.2% Good → Good Stable Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: At sector avg	16.3% Good ↑ Good Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+8%)	16.9% Good ↑ Good Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+13%)	13.8% Fair → Fair Stable Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-8%)	15.2% Good ↑ Good Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: At sector avg	13.1% Fair ↑ Fair Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-12%)	14.5% Fair ↑ Fair Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: At sector avg	9.8% Caution ↓ Caution Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-34%)	11.1% Fair → Fair Stable Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-26%)	10.6% Fair → Fair Stable Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-29%)	10.1% Fair ↓ Fair Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-33%)	11.2% Fair ↓ Fair Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-26%)	11.4% Fair ↓ Fair Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-24%)	12.1% Fair ↓ Fair Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-19%)	19.1% Good ↑ Good Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+27%)	11.6% Fair Fair Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-23%)	14.6% Fair Fair Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: At sector avg	—

⚖️ Is the balance sheet risky? 4 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗	FY 2008 Dec 31, 2008 10-K ↗	FY 2007 Dec 31, 2007 10-K ↗	FY 2006 Dec 31, 2006 10-K ↗
Debt to Equity (x)	0.73x Fair ↑ Fair Improving Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+22%)	0.76x Fair ↑ Fair Improving Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+26%)	0.64x Fair → Fair Stable Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+7%)	0.67x Fair ↑ Fair Improving Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+11%)	0.64x Fair → Fair Stable Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+6%)	0.60x Fair ↓ Fair Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: At sector avg	0.63x Fair ↓ Fair Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+6%)	0.67x Fair → Fair Stable Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+12%)	0.75x Fair ↑ Fair Improving Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+25%)	0.63x Fair → Fair Stable Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: At sector avg	0.69x Fair ↑ Fair Improving Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+15%)	0.62x Fair ↑ Fair Improving Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: At sector avg	0.59x Good ↑ Good Improving Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: At sector avg	0.63x Fair ↑ Fair Improving Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: At sector avg	0.42x Good ↑ Good Improving Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-30%)	0.38x Good ↑ Good Improving Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-37%)	0.34x Good Good Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-44%)	0.37x Good Good Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-38%)	—	—
Interest Coverage (x)	—	—	8.25x Good ↓ Good Declining Operating income divided by interest expense Optimal: > 5x	9.73x Good ↑ Good Improving Operating income divided by interest expense Optimal: > 5x	9.38x Good ↑ Good Improving Operating income divided by interest expense Optimal: > 5x	8.11x Good ↑ Good Improving Operating income divided by interest expense Optimal: > 5x	8.04x Good ↑ Good Improving Operating income divided by interest expense Optimal: > 5x	7.21x Good ↑ Good Improving Operating income divided by interest expense Optimal: > 5x	5.65x Good ↓ Good Declining Operating income divided by interest expense Optimal: > 5x	6.64x Good ↓ Good Declining Operating income divided by interest expense Optimal: > 5x	7.28x Good → Good Stable Operating income divided by interest expense Optimal: > 5x	7.36x Good → Good Stable Operating income divided by interest expense Optimal: > 5x	6.64x Good ↓ Good Declining Operating income divided by interest expense Optimal: > 5x	7.07x Good ↓ Good Declining Operating income divided by interest expense Optimal: > 5x	8.79x Good ↓ Good Declining Operating income divided by interest expense Optimal: > 5x	9.73x Good Good Operating income divided by interest expense Optimal: > 5x	9.34x Good Good Operating income divided by interest expense Optimal: > 5x	—	—	—
Net Debt (USD)	$22.55B	$22.94B	$18.59B	$16.73B	$18.15B	$14.29B	$15.15B	$15.28B	$16.32B	$11.65B	$13.75B	$12.89B	$12.91B	$12.50B	$7.64B	$7.16B	$3.58B	$5.75B	$-2.77B	$-2.60B
Debt / EBITDA (x)	4.39x Weak ↑ Weak Improving Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	3.92x Caution ↑ Caution Improving Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	2.92x Fair → Fair Stable Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	2.87x Fair ↓ Fair Declining Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	3.02x Caution ↓ Caution Declining Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	3.07x Caution ↓ Caution Declining Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	3.27x Caution ↓ Caution Declining Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	3.46x Caution ↓ Caution Declining Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	4.65x Weak ↑ Weak Improving Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	3.21x Caution → Caution Stable Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	3.27x Caution ↓ Caution Declining Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	3.32x Caution → Caution Stable Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	3.53x Caution ↑ Caution Improving Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	4.02x Weak ↑ Weak Improving Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	2.54x Fair ↑ Fair Improving Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	2.14x Fair Fair Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	1.96x Good Good Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	—	—	—

📊 What does each share earn? 8 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗	FY 2008 Dec 31, 2008 10-K ↗	FY 2007 Dec 31, 2007 10-K ↗	FY 2006 Dec 31, 2006 10-K ↗
Revenue per Share (USD)	$888.95	$763.97	$726.32	$652.48	$568.66	$485.91	$407.88	$356.86	$344.32	$322.80	$300.98	$267.76	$237.93	$191.28	$168.55	$142.85	$136.53	—	—	—
Basic EPS, GAAP (USD)	$25.28	$25.81	$25.38	$24.56	$25.04	$18.23	$18.81	$14.53	$14.70	$9.39	$9.73	$9.31	$8.34	$8.26	$7.35	$7.03	$9.96	$4.79	$5.64	—
Free Cash Flow per Share (USD)	$14.17	$19.65	$28.68	$30.20	$29.85	$38.54	$19.51	$10.15	$12.94	$10.22	$13.22	$9.62	$8.06	$6.84	$7.93	$2.35	$5.59	—	—	—
Dividend per Share (USD)	—	—	$5.92	$5.12	$4.52	$3.80	$3.20	$3.00	$2.70	$2.60	$2.50	$1.75	$1.50	$1.15	$1.00	—	—	—	—	—
Book Value per Share (USD)	$198.81	$181.62	$168.64	$152.31	$149.15	$135.28	$125.45	$110.88	$103.49	$95.17	$88.21	$90.45	$84.44	$78.11	$68.62	$63.04	$55.28	$42.59	—	—
Tangible Book Value per Share (USD)	$19.65	$4.15	$15.94	$6.49	$5.03	$8.57	$10.10	$-3.77	$-4.28	$-1.61	$-10.24	$-2.94	$-2.02	$-5.75	$4.41	$6.75	$7.42	$-1.70	—	—
Basic Weighted Avg Shares (shares)	224.00M	231.70M	235.90M	240.00M	243.80M	250.80M	255.50M	258.10M	261.50M	262.90M	263.00M	275.90M	298.50M	321.50M	360.20M	410.90M	476.30M	—	—	—
Dividend Payout Ratio (%)	—	—	23.3% Excellent ↑ Excellent Improving Dividends paid as a percentage of earnings Optimal: 30-60%	20.8% Excellent ↑ Excellent Improving Dividends paid as a percentage of earnings Optimal: 30-60%	18.1% Excellent ↓ Excellent Declining Dividends paid as a percentage of earnings Optimal: 30-60%	20.8% Excellent ↑ Excellent Improving Dividends paid as a percentage of earnings Optimal: 30-60%	17.0% Excellent ↓ Excellent Declining Dividends paid as a percentage of earnings Optimal: 30-60%	20.6% Excellent ↓ Excellent Declining Dividends paid as a percentage of earnings Optimal: 30-60%	18.4% Excellent ↓ Excellent Declining Dividends paid as a percentage of earnings Optimal: 30-60%	27.7% Excellent ↑ Excellent Improving Dividends paid as a percentage of earnings Optimal: 30-60%	25.7% Excellent ↑ Excellent Improving Dividends paid as a percentage of earnings Optimal: 30-60%	18.8% Excellent ↑ Excellent Improving Dividends paid as a percentage of earnings Optimal: 30-60%	18.0% Excellent ↑ Excellent Improving Dividends paid as a percentage of earnings Optimal: 30-60%	13.9% Excellent Excellent Dividends paid as a percentage of earnings Optimal: 30-60%	13.6% Excellent Excellent Dividends paid as a percentage of earnings Optimal: 30-60%	—	—	—	—	—

🏦 How resilient is the balance sheet? 3 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗	FY 2008 Dec 31, 2008 10-K ↗	FY 2007 Dec 31, 2007 10-K ↗	FY 2006 Dec 31, 2006 10-K ↗
Working Capital (USD)	$21.97B	$18.36B	$18.24B	$15.92B	$16.24B	$16.30B	$15.50B	$12.36B	$12.91B	$13.02B	$11.77B	$13.20B	$13.39B	$13.35B	$11.20B	$12.13B	$13.40B	$-2.89B	—	—
LT Debt (USD)	$31.90B	$30.87B	$24.89B	$23.85B	$22.76B	$20.04B	$19.39B	$18.07B	$18.66B	$15.29B	$15.32B	$14.64B	$14.09B	$14.73B	$9.74B	$8.85B	$8.40B	$7.83B	—	—
Total Equity (USD)	$43.88B	$41.31B	$39.31B	$36.24B	$36.06B	$33.20B	$31.73B	$28.54B	$26.50B	$25.10B	$23.04B	$24.25B	$24.77B	$23.80B	$23.29B	$23.81B	$24.86B	$21.43B	$22.99B	$24.58B

📋 What is driving earnings? 4 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗	FY 2008 Dec 31, 2008 10-K ↗	FY 2007 Dec 31, 2007 10-K ↗	FY 2006 Dec 31, 2006 10-K ↗
Sales/Revenue/Turnover (USD)	$199.12B	$177.01B	$171.34B	$156.59B	$138.64B	$121.87B	$104.21B	$92.11B	$90.04B	$84.86B	$79.16B	$73.87B	$71.02B	$61.50B	$60.71B	$58.70B	$65.03B	$61.25B	$61.17B	—
Depreciation Expense (USD)	$94.00M	$105.00M	$107.00M	$123.00M	$136.00M	$176.00M	$147.00M	$124.00M	$111.00M	$104.00M	$105.80M	$106.50M	$107.90M	$107.10M	$95.70M	$103.10M	$107.10M	$105.40M	$120.20M	—
Net Income, GAAP (USD)	$5.66B	$5.98B	$5.99B	$5.89B	$6.10B	$4.57B	$4.81B	$3.75B	$3.84B	$2.47B	$2.56B	$2.57B	$2.49B	$2.66B	$2.65B	$2.89B	$4.75B	$2.49B	$3.35B	—
Operating Cash Flow (USD)	$4.29B	$5.81B	$8.06B	$8.40B	$8.36B	$10.69B	$6.06B	$3.83B	$4.18B	$3.27B	$4.12B	$3.37B	$3.05B	$2.74B	$3.37B	$1.42B	$3.04B	$2.54B	$4.34B	—

Elevance Health, Inc.

Analytical Summary

20-Year Financial Trajectory

Bullish Indicators

Bearish Risks

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