Elevance Health ELV Business Segments
| TTM Q1 '26 | TTM Q4 '25 | TTM Q3 '25 | TTM Q2 '25 | TTM Q1 '25 | ||
|---|---|---|---|---|---|---|
| Operating revenue - total by Business | ||||||
| Carelon Services Segment | $29.15B+2.9% | $28.32B+8.6% | $26.07B+11.5% | $23.38B+14.1% | $20.49B+14.1% | |
| CarelonRx Segment | $43.88B+1.1% | $43.4B+4.0% | $41.73B+4.6% | $39.88B+4.9% | $38.01B+5.7% | |
| Health Benefits Segment | $168.15B+0.6% | $167.09B+2.6% | $162.84B+2.5% | $158.87B+2.9% | $154.45B+2.8% | |
| Reportable segments’ operating gain by Business | ||||||
| CarelonRx Segment | $2.4B-0.8% | $2.42B+8.6% | $2.23B-2.8% | $2.29B+1.7% | $2.25B+3.6% | |
| Corporate & Other | -$1.32B-292% | -$337M+14.5% | -$394M+70.0% | -$1.31B+1.1% | -$1.33B-4.4% | |
| Health Benefits Segment | $4.32B-1.4% | $4.38B-4.5% | $4.59B-17.9% | $5.59B-9.5% | $6.17B-1.1% | |
| Cost of products sold by Business | ||||||
| Carelon Services | $0— | $0— | $0— | $0— | $0— | |
| CarelonRx | $40.62B+1.4% | $40.08B+3.8% | $38.61B+5.1% | $36.73B+5.3% | $34.89B+5.8% | |
| Corporate & Other | $0— | $0— | $0— | $0— | $0— | |
| Health Benefits | $0— | $0— | $0— | $0— | $0— | |
| Premiums by Business | ||||||
| Carelon Services Segment | $5.59B-11.4% | $6.32B+7.5% | $5.87B+22.6% | $4.79B+28.7% | $3.72B+41.5% | |
| CarelonRx Segment | $0— | $0— | $0— | $0— | $0— | |
| Corporate & Other | $0— | $0— | $0— | $0— | $0— | |
| Health Benefits Segment | $160.32B+0.5% | $159.46B+2.6% | $155.34B+2.5% | $151.49B+3.1% | $146.87B+2.9% | |
| Operating expense by Business | ||||||
| Carelon Services | $3.16B+2.7% | $3.07B+2.8% | $2.99B+2.4% | $2.92B+1.6% | $2.87B+0.6% | |
| CarelonRx | $863M-4.6% | $905M+0.6% | $900M+5.1% | $856M-1.6% | $870M+7.3% | |
| Corporate & Other | $1.64B+101% | $816M-9.3% | $900M-48.3% | $1.74B+5.3% | $1.65B+6.0% | |
| Health Benefits | $19.11B+0.3% | $19.05B+3.0% | $18.49B+4.8% | $17.64B-0.2% | $17.68B+2.0% | |
| Benefit expense by Business | ||||||
| Carelon Services | $25.05B+3.2% | $24.28B+10.7% | $21.94B+13.3% | $19.36B+15.9% | $16.7B+16.0% | |
| CarelonRx | $0— | $0— | $0— | $0— | $0— | |
| Corporate & Other | $24M-4.0% | $25M-3.8% | $26M-3.7% | $27M+42.1% | $19M0.0% | |
| Health Benefits | $144.95B+0.7% | $143.89B+2.9% | $139.77B+3.0% | $135.65B+3.9% | $130.6B+3.1% |
Chart any of these lines over time, or line them up against competitors.
Compare these in charts →Questions, answered.
- How does Elevance Health break its business down?
- Elevance Health (ELV) reports operating revenue - total by business across 4 parts — Carelon Services Segment, CarelonRx Segment, Corporate & Other and Health Benefits Segment. Each is extracted from the segment footnotes and tracked over time.
- Where does Elevance Health's segment data come from?
- Segment breakdowns are pulled from the segment footnotes in Elevance Health's SEC filings (the XBRL dimensional tags), so every line ties back to a reported figure. Switch between quarterly, annual, and TTM, or open any segment for its full history.
