Elevance Health (ELV) Net Margin (2009 - 2026)
Elevance Health (ELV) posted Net Margin of 2.65% for Q3 2026, up 0.31 percentage points from 2.34% a year earlier but down 0.24 percentage points from the prior quarter.
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Analysis
Elevance Health (ELV) Net Margin (2009 - 2026) Analysis & Trends
For the trailing twelve months through Sep 30, 2026, Net Margin at Elevance Health was 2.55%, down 0.29 percentage points year-over-year; for FY2025, it came in at 2.84%, down 0.53 percentage points from FY2024.
- Annual Net Margin has declined for four consecutive years, with a five-year change of -0.91 percentage points (FY2020 to FY2025).
- In prior years, Elevance Health's Net Margin was 3.38% in FY2024 (-0.12 pp), 3.49% in FY2023 (-0.27 pp), 3.76% in FY2022 (-0.68 pp) and 4.44% in FY2021 (+0.69 pp).
- Quarterly Net Margin has run from a low of 0.92% in Q4 2024 to a high of 5.28% in Q1 2024 over five years.
- On a year-over-year basis, Net Margin increased in three of the last eight quarters, with an average year-over-year change of -0.58 percentage points.
- The strongest year-over-year quarter for Net Margin in the past five years was Q4 2021, with a gain of 1.52 percentage points; the weakest was Q2 2025, with a drop of 1.74 percentage points.
- According to Business Quant data, Net Margin for the three prior quarters was 2.90% (Q2 2026), 3.52% (Q1 2026) and 1.10% (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Unitedhealth | 359.00 Bn | 239.64 Bn | 35.71 Bn | 3.65% |
| 2 | Mckesson | 123.95 Bn | 105.32 Bn | 3.96 Bn | 1.10% |
| 3 | Cvs Health | 111.19 Bn | 59.95 Bn | 47.21 Bn | 2.00% |
| 4 | Elevance Health | 91.22 Bn | -51.36 Bn | 13.65 Bn | 2.65% |
| 5 | Cigna | 78.47 Bn | 47.34 Bn | 15.09 Bn | 1.96% |
| 6 | Cencora | 66.32 Bn | 55.22 Bn | 3.61 Bn | 0.90% |
| 7 | Cardinal Health | 63.37 Bn | 46.54 Bn | 2.60 Bn | 0.82% |
| 8 | Humana | 51.41 Bn | -36.45 Bn | 5.50 Bn | 1.70% |
| 9 | Centene | 33.72 Bn | -60.99 Bn | 9.52 Bn | -0.14% |
| 10 | Molina Healthcare | 10.44 Bn | -24.56 Bn | 1.36 Bn | 0.34% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 2.65% |
| Jun 30, 2026 | 2.90% |
| Mar 31, 2026 | 3.52% |
| Dec 31, 2025 | 1.10% |
| Sep 30, 2025 | 2.34% |
| Jun 30, 2025 | 3.50% |
| Mar 31, 2025 | 4.47% |
| Dec 31, 2024 | 0.92% |
| Sep 30, 2024 | 2.25% |
| Jun 30, 2024 | 5.24% |
| Mar 31, 2024 | 5.28% |
| Dec 31, 2023 | 2.01% |
| Sep 30, 2023 | 3.01% |
| Jun 30, 2023 | 4.24% |
| Mar 31, 2023 | 4.72% |
| Dec 31, 2022 | 2.17% |
| Sep 30, 2022 | 4.01% |
| Jun 30, 2022 | 4.24% |
| Mar 31, 2022 | 4.70% |
| Dec 31, 2021 | 3.26% |
API Access
Elevance Health Net Margin 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=net-margin&ticker=ELV&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "net-margin", "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=net-margin&ticker=ELV&period=max&api_key=YOUR_API_KEY");
const data = await res.json();