Elevance Health (ELV) Cost of Revenue (2009 - 2026)
Elevance Health (ELV) posted Cost of Revenue of $37.02 billion for Q2 2026, up 0.9% from $36.71 billion a year earlier and up 4.0% from the prior quarter.
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Analysis
Elevance Health (ELV) Cost of Revenue (2009 - 2026) Analysis & Trends
For the trailing twelve months through Jun 30, 2026, Cost of Revenue at Elevance Health was $148.84 billion, up 7.5% year-over-year; for FY2025, it came in at $148.22 billion, up 16.2% from FY2024.
- Annual Cost of Revenue has increased for seven consecutive years, with a five-year compound annual growth rate of 11.0% (FY2020 to FY2025).
- In prior years, Elevance Health's Cost of Revenue was $127.57 billion in FY2024 (+2.6%), $124.33 billion in FY2023 (+6.6%), $116.64 billion in FY2022 (+13.7%) and $102.57 billion in FY2021 (+16.5%).
- Quarterly Cost of Revenue has run from a low of $26.65 billion in Q3 2021 to a high of $38.14 billion in Q3 2025 over five years.
- On a year-over-year basis, Cost of Revenue has increased in each of the last eight quarters, with growth averaging 10.2% over the last eight quarters.
- The strongest year-over-year quarter for Cost of Revenue in the past five years was Q2 2025, with growth of 20.1%; the weakest was Q2 2024, with a decline of 3.3%.
- According to Business Quant data, Cost of Revenue for the three prior quarters was $35.62 billion (Q1 2026), $38.07 billion (Q4 2025) and $38.14 billion (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cost of Rev (Qtr) |
|---|---|---|---|---|---|
| 1 | Unitedhealth | 336.54 Bn | 221.18 Bn | 36.67 Bn | 75.36 Bn |
| 2 | Cvs Health | 110.50 Bn | 63.10 Bn | 47.23 Bn | 58.86 Bn |
| 3 | Mckesson | 105.27 Bn | 91.73 Bn | 3.69 Bn | 101.70 Bn |
| 4 | Elevance Health | 83.85 Bn | -57.90 Bn | 13.45 Bn | 37.02 Bn |
| 5 | Cigna | 71.48 Bn | 41.02 Bn | 14.97 Bn | 56.70 Bn |
| 6 | Cencora | 58.97 Bn | 48.06 Bn | 3.61 Bn | 81.15 Bn |
| 7 | Cardinal Health | 53.10 Bn | 37.10 Bn | 2.56 Bn | 61.11 Bn |
| 8 | Humana | 46.62 Bn | -41.18 Bn | 5.50 Bn | 35.37 Bn |
| 9 | Centene | 31.12 Bn | -59.17 Bn | 14.55 Bn | 39.03 Bn |
| 10 | Molina Healthcare | 9.86 Bn | -25.01 Bn | 1.43 Bn | 9.44 Bn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 37.02 Bn |
| Mar 31, 2026 | 35.62 Bn |
| Dec 31, 2025 | 38.07 Bn |
| Sep 30, 2025 | 38.14 Bn |
| Jun 30, 2025 | 36.71 Bn |
| Mar 31, 2025 | 35.31 Bn |
| Dec 31, 2024 | 33.50 Bn |
| Sep 30, 2024 | 32.95 Bn |
| Jun 30, 2024 | 30.57 Bn |
| Mar 31, 2024 | 30.55 Bn |
| Dec 31, 2023 | 31.33 Bn |
| Sep 30, 2023 | 30.61 Bn |
| Jun 30, 2023 | 31.60 Bn |
| Mar 31, 2023 | 30.79 Bn |
| Dec 31, 2022 | 30.20 Bn |
| Sep 30, 2022 | 29.42 Bn |
| Jun 30, 2022 | 28.80 Bn |
| Mar 31, 2022 | 28.23 Bn |
| Dec 31, 2021 | 27.46 Bn |
| Sep 30, 2021 | 26.65 Bn |
API Access
Elevance Health Cost of Revenue API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=ELV&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "cost-of-revenue", "ticker": "ELV", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=ELV&period=max&api_key=YOUR_API_KEY");
const data = await res.json();