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Elevance Health ELV Corporate & Other — Benefit expense

Other segment segments

Health Benefits
$36.74B+3.5%

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HCICorporate And Other — Policyholder Benefits And Claims Incurred Net
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Other financials

Income statement

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Revenue$50.5B+1.4%
Gross profit$45.0B+1.1%
Net income$1.5B-16.1%
EPS (diluted)$6.71-13.1%

Balance sheet

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Cash & equivalents$10.2B+19.5%
Total debt$30.7B+7.5%
Total equity$44.9B+2.7%
Total assets$126.44B+3.7%

Cash flow

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Operating cash flow$1.9B-6.9%
CapEx$287.0M+7.5%
Free cash flow$1.6B-9.0%

Valuation

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Market cap$84.85B+36.4%
Enterprise value$105.28B+28.1%
P/E17.1×+5.5×
P/S0.4×+0.1×

Profitability

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Gross margin89.1%+0.4pp
Net margin2.5%-0.4pp
FCF margin3.2%+0.4pp

Returns & leverage

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Return on equity11.2%-1.3pp
Debt / equity0.7×0.0×
Current ratio1.5×+0.1×

Where this comes from

Reported directly by Elevance Health in its filing.

Tagged under the XBRL concept us-gaap:PolicyholderBenefitsAndClaimsIncurredNet.

The source filing: Elevance Health’s 10-Q, filed July 15, 2026.

Filed
Jul 15, 2026, 11:27 AM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001156039-26-000060
Three Months Ended June 30, 2026Health Benefits / Three Months Ended June 30, 2026Carelon / Carelon RxCarelon / Carelon ServicesCarelon / TotalCorporate & OtherEliminationsTotal
Operating revenue - unaffiliated42,7206,2671,0407,307(201)49,826
Operating revenue - affiliated4,9836,93511,9186(11,924)
Operating revenue - total$42,720$11,250$7,975$19,225$6$(12,125)$49,826
Benefit expense$36,739$6,743$6,743$6$(6,464)$37,024
Cost of products sold10,47310,473(4,981)5,492
Operating expense5,0851958661,06181(680)5,547
Operating gain (loss)$896$582$366$948$(81)$1,763
Three Months Ended June 30, 2025

ITEM 1. FINANCIAL STATEMENTS

FAQ

What is Elevance Health's corporate & other — benefit expense?
Elevance Health (ELV) reported corporate & other — benefit expense of $6M in Q2 2026.
How has Elevance Health's corporate & other — benefit expense changed year-over-year?
Elevance Health's corporate & other — benefit expense decreased by 25.0% year-over-year, from $8M to $6M.
What is the long-term trend for Elevance Health's corporate & other — benefit expense?
Over 3 years (2022 to 2025), Elevance Health's corporate & other — benefit expense has grown at a -13.8% compound annual growth rate (CAGR), from $39M to $25M.
What does corporate & other — benefit expense mean?
This metric represents the medical benefit expenses incurred by the corporate segment, typically associated with legacy insurance plans or specific non-core risk-bearing activities. It reflects the cost of providing health coverage to members within this segment. Investors use this to assess the underwriting performance of non-core insurance products.

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