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Elevance Health ELV Product revenue — Product and service revenue

Other product segments

Service fees
$2.25B+8.5%

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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$84.11B-0.6%
Enterprise value$105.95B+0.4%
P/E16×+1.7×
P/S0.4×0.0×

Profitability

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Gross margin89.2%+0.6pp
Net margin2.6%-0.6pp
FCF margin3.3%+1.3pp

Returns & leverage

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Return on equity12.1%-2.1pp
Debt / equity0.7×+0.1×
Current ratio1.5×0.0×

Where this comes from

Reported directly by Elevance Health in its filing.

Tagged under the XBRL concept us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.

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 product revenue — product and service revenue?
Elevance Health (ELV) reported product revenue — product and service revenue of $6.23B in Q1 2026.
How has Elevance Health's product revenue — product and service revenue changed year-over-year?
Elevance Health's product revenue — product and service revenue increased by 7.2% year-over-year, from $5.81B to $6.23B.
What is the long-term trend for Elevance Health's product revenue — product and service revenue?
Over 3 years (2022 to 2025), Elevance Health's product revenue — product and service revenue has grown at a 17.8% compound annual growth rate (CAGR), from $14.98B to $24.47B.
What does product revenue — product and service revenue mean?
This metric represents the total revenue generated from the sale of health insurance products and related administrative services provided to members. It encompasses premiums earned from employer-sponsored, individual, and government-funded health plans, as well as fees from health services and pharmacy benefit management. This revenue stream is the primary indicator of the company's market reach and the scale of its core health insurance operations.