Elevance Health Inc. (ELV) Revenue History
Annual and quarterly revenue from 2014 to 2025
Compound Annual Growth Rate (CAGR)
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Revenue Growth Metrics
Revenue Breakdown (FY 2024)
ELV's revenue distribution by segment and geography for fiscal year 2024
By Product/Segment
ELV Revenue Analysis (2014–2025)
As of March 2, 2026, Elevance Health Inc. (ELV) generated trailing twelve-month (TTM) revenue of $198.69 billion, reflecting solid growth of +8.5% year-over-year. The most recent quarter (Q4 2025) recorded $49.31 billion in revenue, down 2.8% sequentially.
Looking at the longer-term picture, ELV's 5-year compound annual growth rate (CAGR) stands at +10.3%, indicating consistent double-digit revenue growth. The company achieved its highest annual revenue of $198.69 billion in 2025, representing a new all-time high.
Revenue diversification analysis shows ELV's business is primarily driven by Health Benefits Segment (74%), and Carelon Services Segment (26%). With over half of revenue concentrated in Health Benefits Segment, the company maintains significant focus in this area while developing other growth vectors.
When compared to Healthcare sector peers including HUM (+9.9% YoY), ELV has underperformed the peer group in terms of revenue growth. Compare ELV vs HUM →
Peer Comparison
Compare ELV's revenue metrics with industry peers
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| ELVCurrent | $198.7B | +8.5% | +10.3% | 3.5% | |
| HUM | $117.8B | +9.9% | +12.7% | 1.5% |
Historical Revenue Data
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $198.69B | +12.4% | $111.58B | 56.2% | $6.99B | 3.5% |
| 2024 | $176.81B | +3.2% | $176.81B | 100.0% | $7.90B | 4.5% |
| 2023 | $171.34B | +9.4% | $171.34B | 100.0% | $7.71B | 4.5% |
| 2022 | $156.59B | +13.0% | $156.59B | 100.0% | $7.60B | 4.9% |
| 2021 | $138.64B | +13.8% | $138.64B | 100.0% | $8.00B | 5.8% |
| 2020 | $121.87B | +16.9% | $121.87B | 100.0% | $6.24B | 5.1% |
| 2019 | $104.21B | +13.1% | $104.21B | 100.0% | $5.99B | 5.7% |
| 2018 | $92.11B | +2.3% | $92.11B | 100.0% | $5.07B | 5.5% |
| 2017 | $90.04B | +6.1% | $90.04B | 100.0% | $3.96B | 4.4% |
| 2016 | $84.86B | +7.2% | $84.86B | 100.0% | $4.55B | 5.4% |
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Start ComparisonFrequently Asked Questions
Is ELV's revenue growth accelerating or slowing?
ELV maintains +8.5% revenue growth, in line with its 5-year CAGR of +10.3%. TTM revenue stands at $198.7B. Growth rate remains consistent with historical average.
What is ELV's long-term revenue growth rate?
Elevance Health Inc.'s 5-year revenue CAGR of +10.3% reflects the sustained expansion pattern. Current YoY growth of +8.5% is near this long-term average.
How is ELV's revenue distributed by segment?
ELV reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2014-2025 are available for download. Segment mix reveals concentration and diversification trends.