Elevance Health Inc. (ELV) Revenue History
Annual and quarterly revenue from 2014 to 2025
Compound Annual Growth Rate (CAGR)
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ELV Revenue Growth
Revenue Breakdown (FY 2025)
ELV's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
ELV Revenue Analysis (2014–2025)
As of May 6, 2026, Elevance Health Inc. (ELV) generated trailing twelve-month (TTM) revenue of $200.41 billion, reflecting modest growth of +2.6% year-over-year. The most recent quarter (Q1 2026) recorded $50.18 billion in revenue, up 0.9% 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 $199.13 billion in 2025, representing a new all-time high.
Revenue diversification analysis shows ELV's business is primarily driven by Health Benefits Segment (85%), Carelon Services Segment (36%), and Segment Eliminations (-21%). 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 UNH (+9.7% YoY), CVS (+7.8% YoY), and CI (+8.8% YoY), ELV has underperformed the peer group in terms of revenue growth. Compare ELV vs UNH →
ELV Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| ELVCurrent | $200.4B | +2.6% | +10.3% | 4.1% | |
 UNH | $447.6B | +9.7% | +11.7% | 4.2% | |
 CVS | $402.1B | +7.8% | +8.4% | 2.6% | |
 CI | $275.0B | +8.8% | +11.4% | 3.3% | |
 HUM | $129.7B | +14.1% | +10.9% | 1.1% | |
 CNC | $194.8B | +17.0% | +11.9% | -3.9% |
ELV Historical Revenue Data (2014–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $199.13B | +12.6% | $50.90B | 25.6% | $8.11B | 4.1% |
| 2024 | $176.81B | +3.2% | $49.24B | 27.9% | $8.89B | 5.0% |
| 2023 | $171.34B | +9.4% | $47.01B | 27.4% | $8.74B | 5.1% |
| 2022 | $156.59B | +13.0% | $39.95B | 25.5% | $8.45B | 5.4% |
| 2021 | $138.64B | +13.8% | $35.99B | 26.0% | $8.95B | 6.5% |
| 2020 | $121.87B | +16.9% | $33.82B | 27.8% | $7.71B | 6.3% |
| 2019 | $104.21B | +13.1% | $22.43B | 21.5% | $6.73B | 6.5% |
| 2018 | $92.11B | +2.3% | $20.21B | 21.9% | $5.84B | 6.3% |
| 2017 | $90.04B | +6.0% | $17.80B | 19.8% | $4.99B | 5.5% |
| 2016 | $84.98B | +7.2% | $18.14B | 21.4% | $5.42B | 6.4% |
Full ELV Stock Analysis
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Start ComparisonELV — Frequently Asked Questions
Quick answers to the most common questions about buying ELV stock.
Is ELV's revenue growth accelerating or slowing?
ELV revenue growth slowed to +2.6%, below the 5-year CAGR of +10.3%. TTM revenue is $200.4B. The deceleration marks a shift from historical growth rates.
What is ELV's long-term revenue growth rate?
Elevance Health Inc.'s 5-year revenue CAGR of +10.3% reflects the variable expansion pattern. Current YoY growth of +2.6% 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.