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Elevance Health ELV Q2 2025 earnings

Reported July 17, 2025 · Before market open

Revenue$49.8BBeat by $1.6B
EPS$8.84Miss by $0.07
Revenue estimate$48.2B
EPS estimate$8.91

Next report

Oct 21, 2026 (In 2 weeks)
Revenue estimate$49.3B
EPS estimate$4.66

Financials

Q2 2025

Income statement

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Revenue$49.8B+13.4%
Gross profit$44.5B+13.9%
Net income$1.7B-24.2%
EPS (diluted)$7.72-21.6%

Balance sheet

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Cash & equivalents$8.6B+31.8%
Total debt$28.5B+15.1%
Total equity$43.7B+3.6%
Total assets$121.94B+7.9%

Cash flow

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Operating cash flow$2.1B+360%
CapEx$267.0M-17.3%
Free cash flow$1.8B+1,341%

Valuation & ratios

Valuation

as of 06/30/25
See full
Market cap$85.05B-32.4%
Enterprise value$105.02B-27.1%
P/E15.9×-2.9×
P/S0.4×-0.3×

Profitability

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Gross margin88.7%-0.8pp
Net margin2.8%-1.1pp
FCF margin2.8%—

Returns & leverage

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Return on equity12.5%-4.2pp
Debt / equity0.7×+0.1×
Current ratio1.4×0.0×

Segments

By product

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Service fees$2.1B-7.4%

FAQ

When did Elevance Health report Q2 2025 earnings?
Elevance Health (ELV) reported Q2 2025 earnings on July 17, 2025 before market open.
What were Elevance Health's Q2 2025 revenue and EPS?
Elevance Health reported revenue of $49.8B and eps of $8.84 for Q2 2025.
Did Elevance Health beat estimates in Q2 2025?
Revenue beat the consensus estimate of $48.2B by $1.6B. EPS missed the consensus estimate of $8.91 by $0.07.
How did Elevance Health's Q2 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 14.0% from $43.6B a year earlier and eps declined 12.6% from $10.12.
Where can I find Elevance Health's Q2 2025 SEC filings?
You can read the 8-K earnings release (0001156039-25-000111) and the 10-Q periodic report (0001156039-25-000114) directly on SEC EDGAR. The filing index links above go to sec.gov.