Elevance Health (ELV): analysis in plain words
Is Elevance Health cheap or expensive? How it makes money, whether it grows and its risks, explained in plain words and with its official accounts.
Elevance Health (ELV) is listed on the NYSE and we classify it in healthcare and pharma. Below are its key dated figures, how it makes money, how it compares with its sector, what works for and against Elevance Health according to those figures, and the questions people ask most about the stock. No buy or sell tips.
Elevance Health (ELV) key figures as of November 4, 2026
| Figure | Value | What it measures |
|---|---|---|
| Share price | $434.18 | Last price on November 4, 2026 |
| P/E ratio (TTM) | 18.4x | Price over earnings per share |
| Revenue growth | +1.4% | Latest quarter vs the same quarter a year earlier |
| Net margin (TTM) | 2.5% | Profit for every 100 of sales |
| Net debt / EBITDA | Net cash (more cash than debt) | Years of operating profit to repay debt |
| Dividend yield | 1.66% | Annual dividend over price |
| Market cap | $94.2 billion | What the stock market values it at |
The Elevance Health figures come from Yahoo Finance, the same source the Fintols analysis uses, retrieved on November 4, 2026. Any ELV figure that is not available shows as N/A: we do not estimate it.
How Elevance Health makes money
Elevance Health, formerly Anthem, sells health insurance under names like Anthem Blue Cross and Wellpoint to employers, individuals and government programs such as Medicaid and Medicare. Its segments are Health Benefits, the largest, CarelonRx, which manages pharmacy benefits, and Carelon Services, which provides care delivery and health services.
Over the last 12 months, Elevance Health brought in revenue of $201.8 billion. For every 100 it sells, Elevance Health keeps 26.4 after the direct cost of what it sells (gross margin) and 4.2 after all operating costs (operating margin).
Elevance Health against its sector
To know whether a Elevance Health figure is high or low you have to put it next to similar companies. This table compares Elevance Health with the median of the 30 healthcare and pharma companies Fintols covers, with data as of November 4, 2026.
| Figure | Elevance Health | healthcare and pharma median |
|---|---|---|
| P/E | 18.4x | 31.3x (30) |
| Revenue growth | +1.4% | +8.3% (33) |
| Net margin | 2.5% | 14.9% (33) |
| Dividend yield | 1.66% | 1.52% (33) |
| Net debt / EBITDA | -0.8x | 1.6x (31) |
In short, against the typical healthcare and pharma company, Elevance Health trades on a lower P/E, grows more slowly and earns a thinner margin. By size, Elevance Health ranks number 22 of 28 healthcare and pharma companies quoted in USD on Fintols.
The bull case for Elevance Health
These are the strengths in the Elevance Health figures as of November 4, 2026:
- Elevance Health generates real cash: $8.0 billion of free cash flow over 12 months, 8.5% of its stock market value.
- On a P/E basis Elevance Health trades cheaper than its sector: 18.4x its annual earnings, against 31.3x for the healthcare and pharma median (30 companies with data).
- Elevance Health holds more cash than debt (net cash), so it does not depend on lenders to keep investing and is better placed to ride out a bad year.
The main risk for Elevance Health
Elevance Health runs on a thin net margin (2.5%, against a healthcare and pharma median of 14.9%): a rise in costs can easily wipe out profit.
And, like the rest of healthcare and pharma, Elevance Health is exposed to a key drug losing patent protection or a clinical trial failing, plus government pressure on prices.
Frequently asked questions about Elevance Health
Is it a good time to buy Elevance Health stock?
Fintols does not tell you whether to buy or sell Elevance Health, and nobody knows what the price will do tomorrow. What we can show you is where it stands today. As of November 4, 2026, Elevance Health stock trades at $434.18, 4% below its 52-week high ($450.69) and 58% above its low ($274.84). Its P/E is 18.4x against a healthcare and pharma median of 31.3x, and 14.3x on the earnings analysts expect over the next 12 months. With Elevance Health, as with any stock, timing matters less than understanding the business, investing for the long run and not betting everything on a single company.
Does Elevance Health pay a dividend?
Yes. As of November 4, 2026, Elevance Health pays $6.88 per share a year, which at today's price is a yield of 1.66%. It uses 29% of its profit to pay it, which leaves room to keep paying it if profit dips.
Is Elevance Health stock expensive?
It depends on what you compare it with. On P/E, Elevance Health trades at 18.4x its last 12 months of earnings: cheaper than the healthcare and pharma median (31.3x). A high P/E alone does not make Elevance Health expensive: it can be justified if earnings grow fast, and a low one can reflect a business in trouble.
Who are Elevance Health's competitors?
On Fintols we compare Elevance Health with Cigna, Zoetis and Regeneron, which are also in healthcare and pharma. As of November 4, 2026, Cigna is worth $80.7 billion and trades on a P/E of 12.6; Zoetis is worth $36.9 billion and trades on a P/E of 14.7; Regeneron is worth $96.3 billion and trades on a P/E of 20.6. Each has a side-by-side comparison with Elevance Health below.
Elevance Health competitors
- Cigna (CI) analysis · Elevance Health vs Cigna comparison
- Zoetis (ZTS) analysis · Elevance Health vs Zoetis comparison
- Regeneron (REGN) analysis · Elevance Health vs Regeneron comparison
To understand Elevance Health better
- DCF and WACC Explained: A Practical Valuation Guide
- P/E Ratio and EPS Explained: How to Read Them Without Traps
More companies like Elevance Health: healthcare and pharma stocks and S&P 500 companies. Open the full ELV analysis with its valuation and scenarios. Educational content about Elevance Health, not investment advice.