Elevance Health (ELV) Operating Expenses (2009 - 2026)
Elevance Health (ELV) posted quarterly Operating Expenses of $48.5 billion for Q2 2026, up 2.22% year-over-year from $47.5 billion in Q2 2025, and up 1.38% quarter-over-quarter from $47.9 billion in Q1 2026.
Elevance Health (ELV) Operating Expenses (2009 - 2026) Analysis & Trends
Elevance Health (ELV) has reported Operating Expenses for 18 consecutive years, with $48.5 billion the latest figure, recorded in Q2 2026.
- In Q2 2026, Operating Expenses rose 2.22% year-over-year to $48.5 billion; the TTM figure through Jun 2026 stood at $195.3 billion (up 7.19% YoY), while the FY2025 annual figure was $192.4 billion, up 13.78% from the prior year.
- Operating Expenses improved to $48.5 billion in Q2 2026 per ELV's latest filing, from $47.9 billion in the prior quarter.
- Across five years, Operating Expenses topped out at $49.5 billion in Q4 2025 and bottomed at $35.8 billion in Q1 2022.
- Historically, Operating Expenses has averaged $42.8 billion across 5 years, with a median of $41.4 billion in 2023.
- Annual changes were most pronounced in 2022 — Operating Expenses advanced 18.47% — and 2024, when it dropped 0.8%.
- Elevance Health's Operating Expenses stood at $38.9 billion in 2022, then grew by 7.1% to $41.6 billion in 2023, then gained by 7.66% to $44.8 billion in 2024, then rose by 10.47% to $49.5 billion in 2025, then slipped by 2.01% to $48.5 billion in 2026.
- Business Quant data shows ELV's Operating Expenses at $48.5 billion in Q2 2026, $47.9 billion in Q1 2026, and $49.5 billion in Q4 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Unitedhealth | 346.93 Bn | 315.46 Bn | 36.67 Bn | 104.04 Bn |
| 2 | Cvs Health | 119.91 Bn | 105.95 Bn | 47.23 Bn | 101.39 Bn |
| 3 | Elevance Health | 86.25 Bn | 50.30 Bn | 13.45 Bn | 48.54 Bn |
| 4 | Humana | 45.69 Bn | 21.82 Bn | 5.50 Bn | 39.51 Bn |
| 5 | Centene | 31.66 Bn | 4.60 Bn | 14.55 Bn | 52.38 Bn |
| 6 | Molina Healthcare | 10.12 Bn | 1.21 Bn | 1.43 Bn | 10.73 Bn |
| 7 | Oscar Health | 9.48 Bn | 922.10 Mn | 1.09 Bn | 4.49 Bn |
| 8 | Alignment Healthcare | 2.69 Bn | 1.99 Bn | 180.96 Mn | 1.29 Bn |
| 9 | Clover Health Investments | 2.16 Bn | 1.92 Bn | 153.00 Mn | 715.17 Mn |
| 10 | Progyny | 2.03 Bn | 1.79 Bn | 89.30 Mn | 49.30 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 48.54 Bn |
| Mar 31, 2026 | 47.88 Bn |
| Dec 31, 2025 | 49.53 Bn |
| Sep 30, 2025 | 49.31 Bn |
| Jun 30, 2025 | 47.48 Bn |
| Mar 31, 2025 | 46.09 Bn |
| Dec 31, 2024 | 44.84 Bn |
| Sep 30, 2024 | 43.73 Bn |
| Jun 30, 2024 | 40.90 Bn |
| Mar 31, 2024 | 39.64 Bn |
| Dec 31, 2023 | 41.65 Bn |
| Sep 30, 2023 | 41.20 Bn |
| Jun 30, 2023 | 41.23 Bn |
| Mar 31, 2023 | 39.55 Bn |
| Dec 31, 2022 | 38.88 Bn |
| Sep 30, 2022 | 37.81 Bn |
| Jun 30, 2022 | 36.51 Bn |
| Mar 31, 2022 | 35.79 Bn |
| Dec 31, 2021 | 35.11 Bn |
| Sep 30, 2021 | 33.83 Bn |