Elevance Health (ELV) Net Margin (2009 - 2026)
Elevance Health's (ELV) quarterly Net Margin came in at 3.52% in Q2 2026, down 70.0% year-on-year from 11.74% in Q2 2025, and down 17.9% on a QoQ basis from 4.29% in Q1 2026.
Elevance Health (ELV) Net Margin (2009 - 2026) Analysis & Trends
Elevance Health (ELV) has 17 years of Net Margin data on file, last reported at 3.52% in Q2 2026.
- On a quarterly basis, Net Margin fell 70.0% year-over-year to 3.52% in Q2 2026; TTM through Jun 2026 was 2.72%, a 88.0% decrease from a year earlier, with the FY2025 full-year figure at 2.84%, down 130.0% from the prior year.
- Net Margin for Q2 2026 stood at 3.52%, down from 4.29% in the prior quarter.
- Over the last five years, Net Margin for ELV reached as high as 5.28% in Q1 2024 and fell as low as 1.1% in Q4 2025.
- Historically, Net Margin has averaged 3.81% across 5 years, with a median of 4.26% in 2026.
- Across the five-year window, Net Margin surged 275 bps in 2022 and plunged 378 bps in 2023, its largest moves.
- Year by year, Net Margin stood at 5.09% in 2022, then plunged by 74 bps to 1.31% in 2023, then surged by 127 bps to 2.96% in 2024, then tumbled by 63 bps to 1.1% in 2025, then jumped by 221 bps to 3.52% in 2026.
- Per Business Quant data, the three most recent Net Margin figures were 3.52% in Q2 2026, 4.29% in Q1 2026, and 1.1% in Q4 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Unitedhealth | 378.67 Bn | 347.44 Bn | 38.23 Bn | 5.80% |
| 2 | Cvs Health | 136.85 Bn | 125.05 Bn | 22.85 Bn | 8.75% |
| 3 | Elevance Health | 81.99 Bn | 46.04 Bn | 35.79 Bn | 3.52% |
| 4 | Cigna | 76.73 Bn | 68.88 Bn | -44.29 Bn | 18.97% |
| 5 | Humana | 46.13 Bn | 24.17 Bn | 5.94 Bn | 3.03% |
| 6 | Centene | 31.29 Bn | 7.54 Bn | 43.95 Bn | 3.45% |
| 7 | Molina Healthcare | 10.32 Bn | 1.40 Bn | 1.43 Bn | 0.55% |
| 8 | Oscar Health | 8.45 Bn | 1.65 Bn | 1.42 Bn | 14.61% |
| 9 | Alignment Healthcare | 3.84 Bn | 3.12 Bn | 144.48 Mn | 0.92% |
| 10 | Progyny | 2.57 Bn | 2.35 Bn | 83.07 Mn | 7.36% |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 3.52% |
| Mar 31, 2026 | 4.29% |
| Dec 31, 2025 | 1.10% |
| Sep 30, 2025 | 2.37% |
| Jun 30, 2025 | 4.23% |
| Mar 31, 2025 | 4.47% |
| Dec 31, 2024 | 2.96% |
| Sep 30, 2024 | 2.25% |
| Jun 30, 2024 | 5.24% |
| Mar 31, 2024 | 5.28% |
| Dec 31, 2023 | 1.31% |
| Sep 30, 2023 | 3.06% |
| Jun 30, 2023 | 5.07% |
| Mar 31, 2023 | 4.78% |
| Dec 31, 2022 | 5.09% |
| Sep 30, 2022 | 4.03% |
| Jun 30, 2022 | 4.94% |
| Mar 31, 2022 | 4.67% |
| Dec 31, 2021 | 2.34% |
| Sep 30, 2021 | 4.19% |