Elevance Health (ELV) Net Margin (2009 - 2026)
Elevance Health (ELV) posted quarterly Net Margin of 3.52% for Q2 2026, down 70.0% year-over-year from 11.74% in Q2 2025, and down 17.9% quarter-over-quarter from 4.29% in Q1 2026.
Elevance Health (ELV) Net Margin (2009 - 2026) Analysis & Trends
Elevance Health (ELV) has reported Net Margin for 17 consecutive years, with 3.52% the latest figure, recorded in Q2 2026.
- In Q2 2026, Net Margin fell 70.0% year-over-year to 3.52%; the TTM figure through Jun 2026 stood at 2.72% (down 88.0% YoY), while the FY2025 annual figure was 2.84%, down 130.0% from the prior year.
- Net Margin declined to 3.52% in Q2 2026 per ELV's latest filing, from 4.29% in the prior quarter.
- Across five years, Net Margin topped out at 5.28% in Q1 2024 and bottomed at 1.1% in Q4 2025.
- Historically, Net Margin has averaged 3.81% across 5 years, with a median of 4.26% in 2026.
- Annual changes were most pronounced in 2022 — Net Margin jumped 275 bps — and 2023, when it slumped 378 bps.
- Elevance Health's Net Margin stood at 5.09% in 2022, then plunged by 74 bps to 1.31% in 2023, then soared by 127 bps to 2.96% in 2024, then tumbled by 63 bps to 1.1% in 2025, then surged by 221 bps to 3.52% in 2026.
- Business Quant data shows ELV's Net Margin at 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 | 346.93 Bn | 315.46 Bn | 36.67 Bn | 5.06% |
| 2 | Cvs Health | 119.91 Bn | 105.95 Bn | 47.23 Bn | 2.82% |
| 3 | Elevance Health | 86.25 Bn | 50.30 Bn | 13.45 Bn | 2.88% |
| 4 | Humana | 45.69 Bn | 21.82 Bn | 5.50 Bn | 1.75% |
| 5 | Centene | 31.66 Bn | 4.60 Bn | 14.55 Bn | 2.03% |
| 6 | Molina Healthcare | 10.12 Bn | 1.21 Bn | 1.43 Bn | 0.55% |
| 7 | Oscar Health | 9.48 Bn | 922.10 Mn | 1.09 Bn | 7.41% |
| 8 | Alignment Healthcare | 2.69 Bn | 1.99 Bn | 180.96 Mn | 2.74% |
| 9 | Clover Health Investments | 2.16 Bn | 1.92 Bn | 153.00 Mn | 3.77% |
| 10 | Progyny | 2.03 Bn | 1.79 Bn | 89.30 Mn | 8.00% |
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% |