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Elevance Health, Inc.

ELV Healthcare Healthcare Plans

Elevance Health, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $199.1 billion, up 12.5% from fiscal 2024.

Revenue
+1.42%
EPS
+17.9%
Free cash flow
+29.0%
Total debt
−3.65%

Quarter to September 2026, against a year earlier

425.62 6.38 −1.48%
Market cap
$93.3B
P/E
18.2×
Fwd P/E
19.0×
Dividend yield
1.61%
F-score
6/9
Altman Z
3.09
Beneish M
−2.26
Dividend safety
96/100
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Valuation Filings

Elevance Health, Inc. (ELV) EV/EBITDA

Alert me on EV/EBITDA

As of 6 November 2026, Elevance Health, Inc. (ELV) trades at a EV/EBITDA of 9.3×. Over the past ten years it has ranged from 3.8× (November 2016) to 11.6× (July 2021); the current reading is higher than 67% of that period. That is below the Healthcare Plans industry median of 12.6× and above the Healthcare sector median of 8.5×.

EV/EBITDA, daily

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Annual newest first

Period EV/EBITDA Change
FY2025 7.7× (1.25%)
FY2024 7.8× (19.47%)
FY2023 9.7× (11.01%)
FY2022 10.9× 7.04%
FY2021 10.2× 19.43%
FY2020 8.5× (5.70%)
FY2019 9.0× (0.49%)
FY2018 9.1× 1.04%
FY2017 9.0× 90.50%
FY2016 4.7× (5.58%)

Quarterly newest first

Period EV/EBITDA Change
Sep 2026 8.4× (4.44%)
Jun 2026 8.8× 37.85%
Mar 2026 6.4× (17.13%)
Dec 2025 7.7× 13.55%
43 more quarters

Against its own ten years

Low 3.8× High 11.6×
Ten-year median 8.6×
Current reading's percentile 67

EV/EBITDA against peers

Company EV/EBITDA
CVS CVS Health Corporation compare 7.8×
CI Cigna Group compare 8.1×
OSCR Oscar Health, Inc. compare 8.6×
ELV Elevance Health, Inc. 9.3×
CNC Centene Corporation compare 11.8×
HUM Humana Inc. compare 12.6×
UNH UnitedHealth Group Incorporated compare 14.0×
MOH Molina Healthcare, Inc compare 18.2×
PGNY Progyny, Inc. compare 20.9×
Healthcare Plans industry median 12.6×
Healthcare sector median 8.5×
Market median 10.9×

What EV/EBITDA is

Enterprise Value over EBITDA tells an investor how the market values a whole company, with debt added and cash taken off, against its operating earnings.

((Stock Price × Shares (Basic, Weighted) (latest quarter)) + (Long Term Debt (Total) (latest quarter) + Current Part of Debt (latest quarter)) − Cash & Short Term Investments (latest quarter)) ÷ EBITDA (TTM)

The full definition of EV/EBITDA →

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