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Elevance Health (ELV) Operating Expenses (2016 - 2025)

Elevance Health (ELV) has disclosed Operating Expenses for 17 consecutive years, with $5.4 billion as the latest value for Q4 2025.

  • On a quarterly basis, Operating Expenses rose 12.72% to $5.4 billion in Q4 2025 year-over-year; TTM through Dec 2025 was $148.3 billion, a 14.89% increase, with the full-year FY2025 number at $21.0 billion, up 4.79% from a year prior.
  • Operating Expenses was $5.4 billion for Q4 2025 at Elevance Health, down from $49.3 billion in the prior quarter.
  • In the past five years, Operating Expenses ranged from a high of $49.3 billion in Q3 2025 to a low of $4.8 billion in Q4 2024.
  • A 5-year average of $34.2 billion and a median of $38.4 billion in 2022 define the central range for Operating Expenses.
  • Peak YoY movement for Operating Expenses: surged 537.62% in 2021, then tumbled 87.16% in 2023.
  • Elevance Health's Operating Expenses stood at $35.1 billion in 2021, then increased by 10.86% to $38.9 billion in 2022, then crashed by 87.16% to $5.0 billion in 2023, then fell by 3.9% to $4.8 billion in 2024, then increased by 12.72% to $5.4 billion in 2025.
  • Per Business Quant, the three most recent readings for ELV's Operating Expenses are $5.4 billion (Q4 2025), $49.3 billion (Q3 2025), and $47.5 billion (Q2 2025).