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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$86.7B
P/E Ratio16.53
ROE12.14%

Investing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Acquisitions, net of cash acquired$3.7B-$4M-$50M-$1M-$33M-$5M
Capital expenditures$322M$196M$267M$360M$293M$235M
Increase (Decrease) in Collateral Held under Securities Lending-$233M$290M$176M$110M—$313M
Payment for (Proceeds from) Other Investing Activity$28M$25M$13M$14M-$52M$10M
Proceeds from Maturities, Prepayments and Calls of Debt Securities, Available-for-Sale$544M$424M$324M$447M$576M$552M
Proceeds from sale of investments$4.9B$4.2B$3.5B$3B$2.7B$3.1B
Net cash from investing activities-$1.6B$103M-$687M-$1.2B—-$1.6B
Purchases of investments$3.3B$4B$4.1B$4.2B$2.8B$4.7B

Operating

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Share of Profits (Losses) of Related Party$16M$126M$12M$113M$147M$305M
Other working capital changes————$30M—
Change in receivables$193M$3.2B$923M——$1.2B
Deferred income taxes-$116M-$174M-$52M$269M-$322M-$274M
Depreciation and amortization$398M$373M$380M$387M$406M$354M
Income (Loss) from Equity Method Investments$16M$126M$12M$113M$147M$305M
Income (Loss) from Equity Method Investments$16M$126M$12M$113M$147M$305M
Income (Loss) from Equity Method Investments$16M$126M$12M$113M$147M$305M
Net cash from operating activities$706M$1B$2.1B$1.1B$84M$4.3B
Net income$413M$2.2B$1.7B$1.2B$546M$1.8B
Asset write-downs$25.8M$0——$38M$4M
Equity in earnings (losses) of equity method investees$16M$126M$12M$113M$147M$305M
Increase (Decrease) in Accounts Payable and Other Operating Liabilities-$1.2B$952M$738M-$151M-$2.3B$2.9B
Deferred revenue-$505M$132M-$79M$270M-$338M$266M
Increase (Decrease) in Income Taxes Payable, Net of Income Taxes Receivable$173M$357M$246M-$616M-$284M$644M
Increase (Decrease) in Other Operating Assets-$1.8B$647M——-$460M$1.6B
Net losses on financial instruments-$74M-$464M-$131M-$1M-$57M-$78M
Income (Loss) from Equity Method Investments$16M$126M$12M$113M$147M$305M
Stock-based compensation—$81M$81M$84M$30M$55M
Change in trading and equity securities$5M$5M$30M$35M-$70M$0

Financing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Proceeds from issuance of debt$5.1B——$3B——
Repayments of debt$850M$1.3B—$900M—$750M
Dividends paid$373M$386M$385M$376M$377M$376M
Changes in bank overdrafts-$466M$546M$85M—$1.2B-$1.2B
Changes in securities lending payable-$233M$290M$176M$110M—$313M
Other, net—-$14M$3M$21M$12M-$3M
Proceeds from issuance of commercial paper and other short-term borrowings$65M$0——$515M$724M
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$60M$115M$0$1.2B$545M$150M
Proceeds from Issuance of Commercial Paper and Short-Term Borrowings$65M$0——$515M$724M
Payment of Deferred Purchase Consideration—-$14M$3M$21M$12M-$3M
Noncontrolling interest transactions and other—-$14M$3M$21M$12M-$3M
Net cash from financing activities$1.4B-$1.9B-$308M——-$2.5B
Noncontrolling Interests Activity and Other—-$14M$3M$21M$12M-$3M
Proceeds from issuance of common stock—$23M———$37M
Proceeds from Commercial Paper and Secured Lines of Credit$65M$0——$515M$724M
Repurchases of common stock$1.8B$880M$378M$876M$471M$1.1B
Taxes paid for net share settlement$3M$123M——$1M$34M

Free Cash Flow

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Free cash flow$384M$821M$1.8B$775M$0$4.1B

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Effect of exchange rate changes on cash-$8M$1M$1M-$1M-$6M-$9M
Net increase (decrease) in cash$468M-$788M$1.1B$153M$778M$166M

Supplemental

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Health care costs payable and other insurance liabilities-$28M$600M—-$1.3B$1.1B$1.6B