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Elevance Health ELV Q4 2025 Annual earnings

Reported January 28, 2026 · Before market open

Revenue$49.3BMiss by $532.9M
EPS$3.33Beat by $0.23
Revenue estimate$49.8B
EPS estimate$3.10

Next report

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

Financials

Q4 2025

Income statement

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Revenue$49.7B+9.5%
Gross profit$44.2B+12.2%
Net income$547.0M+30.9%
EPS (diluted)$2.54+35.8%

Balance sheet

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Cash & equivalents$9.5B+14.5%
Total debt$31.6B+4.0%
Total equity$43.9B+6.2%
Total assets$121.49B+3.9%

Cash flow

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Operating cash flow$84.0M-88.1%
CapEx$293.0M-9.0%
Free cash flow--100%

Valuation & ratios

Valuation

as of 12/31/25
See full
Market cap$77.91B-8.9%
Enterprise value$100.02B-7.1%
P/E13.8×-0.5×
P/S0.4×-0.1×

Profitability

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Gross margin89.4%+0.5pp
Net margin2.8%-0.5pp
FCF margin1.7%-0.9pp

Returns & leverage

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Return on equity13.3%-1.5pp
Debt / equity0.7×0.0×
Current ratio1.5×+0.1×

Segments

By product

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Service fees$2.2B+6.5%

FAQ

When did Elevance Health report Q4 2025 earnings?
Elevance Health (ELV) reported Q4 2025 earnings on January 28, 2026 before market open.
What were Elevance Health's Q4 2025 revenue and EPS?
Elevance Health reported revenue of $49.3B and eps of $3.33 for Q4 2025.
Did Elevance Health beat estimates in Q4 2025?
Revenue missed the consensus estimate of $49.8B by $532.9M. EPS beat the consensus estimate of $3.10 by $0.23.
How did Elevance Health's Q4 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 8.5% from $45.4B a year earlier and eps declined 13.3% from $3.84.
Where can I find Elevance Health's Q4 2025 SEC filings?
You can read the 8-K earnings release (0001156039-26-000006) and the 10-K periodic report (0001156039-26-000013) directly on SEC EDGAR. The filing index links above go to sec.gov.