Last 48 quarters of trend data · Healthcare · Medical - Healthcare Plans
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
Elevance Health Inc.'s quarterly P/E stands at 35.5x, down 30.4% year-over-year — suggesting improving earnings relative to price. EV/EBITDA has expanded 68.9% YoY to 45.5x, reflecting rising market expectations or slowing EBITDA growth.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 12.74 | 35.48 | 15.18 | 12.60 | 11.32 | 50.95 | 29.82 | 13.75 | 13.52 | 32.48 | 19.97 | 14.26 | 13.85 |
| — | -30.4% | -49.1% | -8.4% | -16.3% | +56.9% | +49.3% | -3.5% | -2.4% | -0.5% | +16.4% | -20.5% | -17.4% | |
| P/S Ratio | 0.36 | 0.39 | 0.36 | 0.44 | 0.51 | 0.47 | 0.67 | 0.72 | 0.71 | 0.65 | 0.60 | 0.60 | 0.65 |
| — | -16.0% | -46.4% | -39.1% | -29.1% | -28.0% | +11.7% | +19.8% | +9.1% | -15.9% | -12.8% | -20.4% | -17.1% | |
| P/B Ratio | 1.61 | 1.77 | 1.66 | 2.00 | 2.32 | 2.06 | 2.76 | 2.99 | 2.98 | 2.82 | 2.67 | 2.76 | 2.94 |
| — | -14.2% | -40.1% | -33.0% | -22.3% | -27.1% | +3.4% | +8.4% | +1.4% | -17.1% | -12.5% | -15.8% | -11.7% | |
| P/FCF | 22.25 | — | 23.54 | 12.29 | 30.09 | 55.50 | 12.92 | 254.98 | 17.87 | — | 11.22 | 16.51 | 4.47 |
| — | — | +82.1% | -95.2% | +68.4% | — | +15.1% | +1444.6% | +300.0% | — | +88.5% | +21.3% | -66.0% | |
| EV / EBITDA | 10.91 | 45.51 | 11.23 | 10.24 | 9.57 | 26.94 | 20.64 | 11.12 | 10.83 | 22.77 | 14.05 | 10.51 | 10.19 |
| — | +68.9% | -45.6% | -7.9% | -11.7% | +18.3% | +46.9% | +5.8% | +6.3% | +5.5% | +16.0% | -21.5% | -20.9% | |
| EV / EBIT | 13.33 | 43.16 | 11.43 | 10.39 | 9.66 | 28.59 | 20.99 | 11.30 | 11.05 | 25.75 | 15.28 | 11.18 | 10.94 |
| — | +50.9% | -45.6% | -8.1% | -12.6% | +11.0% | +37.4% | +1.1% | +1.1% | +1.4% | +14.5% | -22.6% | -20.0% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
Elevance Health Inc.'s operating margin was 0.3% in Q4 2025, down 3.2 pp QoQ and down 1.0 pp YoY. This marks the 4th consecutive quarter of margin compression, signaling a persistent pressure on profitability that investors should monitor. The trailing four-quarter average of 3.5% exceeds the current quarter, suggesting the latest result may reflect seasonal weakness or a one-off headwind. Gross margin contracted 88.4% YoY, suggesting cost inflation or competitive pricing pressure.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 56.2% | 11.6% | 14.2% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% |
| — | -88.4% | -85.8% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | |
| Operating Margin | 3.5% | 0.3% | 3.5% | 4.6% | 5.7% | 1.3% | 3.0% | 6.8% | 6.9% | 2.3% | 3.9% | 5.6% | 6.2% |
| — | -77.9% | +13.9% | -32.7% | -17.1% | -43.2% | -21.2% | +22.4% | +11.2% | -18.8% | -27.5% | +1.8% | +2.6% | |
| Net Margin | 2.8% | 1.1% | 2.3% | 3.5% | 4.5% | 0.9% | 2.3% | 5.3% | 5.3% | 2.0% | 3.0% | 4.2% | 4.7% |
| — | +20.6% | +4.2% | -33.6% | -15.4% | -54.2% | -25.2% | +24.2% | +11.8% | -15.5% | -25.0% | +0.1% | +0.4% |
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 13.3% | 1.2% | 2.7% | 4.0% | 5.2% | 1.0% | 2.4% | 5.5% | 5.6% | 2.2% | 3.4% | 4.9% | 5.4% |
| — | +26.7% | +14.7% | -27.3% | -7.3% | -55.4% | -29.7% | +13.3% | +4.0% | -16.2% | -24.8% | +7.4% | +8.7% | |
| ROA | 4.8% | 0.4% | 1.0% | 1.4% | 1.8% | 0.4% | 0.9% | 2.0% | 2.0% | 0.8% | 1.2% | 1.7% | 1.9% |
| — | +25.1% | +9.8% | -29.5% | -9.3% | -54.1% | -24.6% | +20.4% | +8.3% | -15.4% | -25.4% | +4.5% | +3.9% | |
| ROIC | 8.0% | 0.2% | 2.0% | 2.6% | 3.2% | 0.7% | 1.6% | 3.6% | 3.7% | 1.4% | 2.3% | 3.4% | 3.7% |
| — | -77.2% | +21.9% | -26.9% | -12.6% | -47.6% | -30.6% | +4.4% | -0.1% | -18.3% | -23.7% | +14.9% | +15.2% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
Elevance Health Inc.'s Debt/EBITDA ratio is 58.2x, up from 15.0x last quarter — elevated, raising questions about debt serviceability.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.73 | 0.73 | 0.73 | 0.69 | 0.70 | 0.75 | 0.62 | 0.65 | 0.65 | 0.64 | 0.64 | 0.66 | 0.68 |
| — | -3.5% | +17.7% | +5.2% | +8.3% | +18.3% | -4.0% | -0.2% | -4.4% | -4.0% | -2.3% | -0.3% | +5.3% | |
| Debt / EBITDA | 3.75 | 58.16 | 14.97 | 11.30 | 9.46 | 31.11 | 15.95 | 8.34 | 8.09 | 17.63 | 11.94 | 8.74 | 8.27 |
| — | +87.0% | -6.1% | +35.5% | +17.0% | +76.5% | +33.5% | -4.6% | -2.1% | +18.9% | +29.5% | -6.8% | -5.3% | |
| Current Ratio | 1.54 | — | — | — | — | — | — | — | — | — | — | — | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — | |
| Quick Ratio | 1.54 | — | — | — | — | — | — | — | — | — | — | — | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — | |
| Interest Coverage | 4.99 | 0.40 | 5.01 | 6.72 | 8.13 | 1.78 | 4.58 | 10.66 | 11.09 | 3.86 | 6.39 | 9.35 | 10.43 |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 48 years · Updated daily
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Start ComparisonElevance Health Inc.'s current P/E is 12.7x. The average P/E over the last 4 quarters is 18.6x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Elevance Health Inc.'s current operating margin is 3.5%. Margins have been compressing over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking Elevance Health Inc.'s business trajectory between earnings reports.