Income StatementBalance SheetCash FlowSegments
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Elevance Health Cash Flow Statement

Operating, investing, and financing cash movements

Elevance Health generated $7.6B in operating cash flow over the trailing twelve months. After $1.2B in capital expenditures, free cash flow was $6.7B. Free cash flow increased 0.8% year-over-year. Based on the Q1 2026 filing.

Net Cash From Operating (TTM)$7.6BNet Cash From Investing (TTM)-$3.4BNet Cash From Financing (TTM)-$1.7BCapital Expenditures (TTM)$1.2BDepreciation And Amortization Cf (TTM)$1.5BNet Change In Cash (TTM)$2.2B
Latest FilingQ1 2026
Report Date2026-04-22
Market Cap$84.2B
P/E Ratio16.06
ROE12.14%

Investing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Acquisitions, net of cash acquired$3.7B-$4.0M-$50.0M-$1.0M-$33.0M-$5.0M
Capital expenditures$322.0M$196.0M$267.0M$360.0M$293.0M$235.0M
Increase (Decrease) in Collateral Held under Securities Lending-$233.0M$290.0M$176.0M$110.0M—$313.0M
Payment for (Proceeds from) Other Investing Activity$28.0M$25.0M$13.0M$14.0M-$52.0M$10.0M
Proceeds from Maturities, Prepayments and Calls of Debt Securities, Available-for-Sale$544.0M$424.0M$324.0M$447.0M$576.0M$552.0M
Proceeds from sale of investments$4.9B$4.2B$3.5B$3.0B$2.7B$3.1B
Net cash from investing activities-$1.6B$103.0M-$687.0M-$1.2B—-$1.6B
Purchases of investments$3.3B$4.0B$4.1B$4.2B$2.8B$4.7B

Operating

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Share of Profits (Losses) of Related Party$16.0M$126.0M$12.0M$113.0M$147.0M$305.0M
Other working capital changes————$30.0M—
Change in receivables$193.0M$3.2B$923.0M——$1.2B
Deferred income taxes-$116.0M-$174.0M-$52.0M$269.0M-$322.0M-$274.0M
Depreciation and amortization$398.0M$373.0M$380.0M$387.0M$406.0M$354.0M
Income (Loss) from Equity Method Investments$16.0M$126.0M$12.0M$113.0M$147.0M$305.0M
Income (Loss) from Equity Method Investments$16.0M$126.0M$12.0M$113.0M$147.0M$305.0M
Income (Loss) from Equity Method Investments$16.0M$126.0M$12.0M$113.0M$147.0M$305.0M
Net cash from operating activities$706.0M$1.0B$2.1B$1.1B$84.0M$4.3B
Net income$413.0M$2.2B$1.7B$1.2B$546.0M$1.8B
Asset write-downs$25.8M$0.0——$38.0M$4.0M
Equity in earnings (losses) of equity method investees$16.0M$126.0M$12.0M$113.0M$147.0M$305.0M
Increase (Decrease) in Accounts Payable and Other Operating Liabilities-$1.2B$952.0M$738.0M-$151.0M-$2.3B$2.9B
Deferred revenue-$505.0M$132.0M-$79.0M$270.0M-$338.0M$266.0M
Increase (Decrease) in Income Taxes Payable, Net of Income Taxes Receivable$173.0M$357.0M$246.0M-$616.0M-$284.0M$644.0M
Increase (Decrease) in Other Operating Assets-$1.8B$647.0M——-$460.0M$1.6B
Net losses on financial instruments-$74.0M-$464.0M-$131.0M-$1.0M-$57.0M-$78.0M
Income (Loss) from Equity Method Investments$16.0M$126.0M$12.0M$113.0M$147.0M$305.0M
Stock-based compensation—$81.0M$81.0M$84.0M$30.0M$55.0M
Change in trading and equity securities$5.0M$5.0M$30.0M$35.0M-$70.0M$0.0

Financing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Proceeds from issuance of debt$5.1B——$3.0B——
Repayments of debt$850.0M$1.3B—$900.0M—$750.0M
Dividends paid$373.0M$386.0M$385.0M$376.0M$377.0M$376.0M
Changes in bank overdrafts-$466.0M$546.0M$85.0M—$1.2B-$1.2B
Changes in securities lending payable-$233.0M$290.0M$176.0M$110.0M—$313.0M
Other, net—-$14.0M$3.0M$21.0M$12.0M-$3.0M
Proceeds from issuance of commercial paper and other short-term borrowings$65.0M$0.0——$515.0M$724.0M
Proceeds from issuance of common stock relating to employee stock plans$55.3M$19.8M$19.8M$19.8M$19.8M—
Repayments of Short-Term Debt$60.0M$115.0M$0.0$1.2B$545.0M$150.0M
Proceeds from Issuance of Commercial Paper and Short-Term Borrowings$65.0M$0.0——$515.0M$724.0M
Payment of Deferred Purchase Consideration—-$14.0M$3.0M$21.0M$12.0M-$3.0M
Noncontrolling interest transactions and other—-$14.0M$3.0M$21.0M$12.0M-$3.0M
Net cash from financing activities$1.4B-$1.9B-$308.0M——-$2.5B
Noncontrolling Interests Activity and Other—-$14.0M$3.0M$21.0M$12.0M-$3.0M
Proceeds from issuance of common stock—$23.0M———$37.0M
Proceeds from Commercial Paper and Secured Lines of Credit$65.0M$0.0——$515.0M$724.0M
Repurchases of common stock$1.8B$880.0M$378.0M$876.0M$471.0M$1.1B
Taxes paid for net share settlement$3.0M$123.0M——$1.0M$34.0M

Free Cash Flow

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Free cash flow$384.0M$821.0M$1.8B$775.0M$0.0$4.1B

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Effect of exchange rate changes on cash-$8.0M$1.0M$1.0M-$1.0M-$6.0M-$9.0M
Net increase (decrease) in cash$468.0M-$788.0M$1.1B$153.0M$778.0M$166.0M

Supplemental

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Health care costs payable and other insurance liabilities-$28.0M$600.0M—-$1.3B$1.1B$1.6B