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Elevance Health ELV Debt-to-equity

Debt-to-equity at other companies

Humana logo
HumanaHUM
0.8×0.0×
CVS Health logo
CVS HealthCVS
0.2×0.0×
UnitedHealth Group logo
UnitedHealth GroupUNH
0.8×-0.1×
Centene logo
CenteneCNC
0.8×+0.1×
Cigna logo
CignaCI
0.0×
Cencora logo
CencoraCOR
3.6×-3.4×

Other financials

Income statement

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Revenue$50.2B+2.6%
Gross profit$44.7B+1.8%
Net income$1.8B-19.2%
EPS (diluted)$8.00-16.8%

Balance sheet

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Cash & equivalents$9.7B+28.8%
Total debt$31.5B+11.0%
Total equity$43.9B+3.3%
Total assets$125.83B+5.1%

Cash flow

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Operating cash flow$4.3B+326%
CapEx$235.0M+19.9%
Free cash flow$4.1B+399%

Valuation

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Market cap$84.97B-34.7%
Enterprise value$106.8B-27.8%
P/E16.2×-5.8×
P/S0.4×-0.3×

Profitability

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Gross margin89.2%+0.6pp
Net margin2.6%-0.6pp

Returns & leverage

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Return on equity12.1%-2.1pp
Current ratio1.5×0.0×

Where this comes from

Calculated from Elevance Health’s reported figures.

Based on the most recent quarter.

The official record: Elevance Health’s 10-Q, filed April 22, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Elevance Health's debt-to-equity?
Elevance Health (ELV) reported debt-to-equity of 0.7× in Q1 2026.
How has Elevance Health's debt-to-equity changed year-over-year?
Elevance Health's debt-to-equity increased by 7.5% year-over-year, from 0.7× to 0.7×.
What is the long-term trend for Elevance Health's debt-to-equity?
Over 4 years (2021 to 2025), Elevance Health's debt-to-equity has grown at a 1.0% compound annual growth rate (CAGR), from 2.6× to 2.8×.
What does debt-to-equity mean?
How much debt the company carries for every dollar of shareholder equity.
How do you interpret debt-to-equity?
Lower is generally safer, but moderate leverage can boost returns. Read in the context of cash-flow stability — a utility tolerates more debt than a cyclical. Negative equity makes the ratio meaningless and it is suppressed there.
How does debt-to-equity compare across companies?
Comparable within an industry; capital structures differ sharply across sectors. Not meaningful for banks.