Elevance Health (ELV) Shares Outstanding (Diluted) (2009 - 2026)
Elevance Health's Shares Outstanding (Diluted) was 217.9 million in Q2 2026, down 3.5% from 225.8 million a year earlier and down 1.1% from the prior quarter.
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Analysis
Elevance Health (ELV) Shares Outstanding (Diluted) (2009 - 2026) Analysis & Trends
For FY2025, Shares Outstanding (Diluted) at Elevance Health came in at 224.6 million, down 3.6% from FY2024.
- Shares Outstanding (Diluted) has now declined for 16 consecutive years, with a five-year compound annual growth rate of -2.5% (FY2020 to FY2025).
- In earlier years, Shares Outstanding (Diluted) was 232.9 million in FY2024 (-1.9%), 237.4 million in FY2023 (-2.2%), 242.8 million in FY2022 (-1.6%) and 246.8 million in FY2021 (-2.9%).
- The Q2 2026 figure marks the lowest quarterly Shares Outstanding (Diluted) in data going back to Q1 2009.
- Compared with a year earlier, Shares Outstanding (Diluted) has declined for 36 straight quarters, with an average decline of 3.0% over the last eight quarters.
- Across the past five years, year-over-year decline in Shares Outstanding (Diluted) ran from 1.4% in Q3 2024 to 4.0% in Q3 2025.
- Per Business Quant data, ELV's Shares Outstanding (Diluted) in the three quarters before Q2 2026 was 220.4 million (Q1 2026), 224.6 million (Q4 2025) and 223.7 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Shares Outstanding (Dil.) (Qtr) |
|---|---|---|---|---|---|
| 1 | Unitedhealth | 332.42 Bn | 217.05 Bn | 36.67 Bn | 906.00 Mn |
| 2 | Cvs Health | 109.55 Bn | 62.16 Bn | 47.23 Bn | 1.29 Bn |
| 3 | Mckesson | 99.61 Bn | 86.08 Bn | 3.69 Bn | 119.20 Mn |
| 4 | Elevance Health | 84.30 Bn | -57.44 Bn | 13.45 Bn | 217.90 Mn |
| 5 | Cigna | 71.83 Bn | 41.37 Bn | 14.97 Bn | 263.96 Mn |
| 6 | Cencora | 57.33 Bn | 46.42 Bn | 3.61 Bn | 193.94 Mn |
| 7 | Cardinal Health | 51.76 Bn | 35.76 Bn | 2.56 Bn | 237.00 Mn |
| 8 | Humana | 45.82 Bn | -41.98 Bn | 5.50 Bn | 121.14 Mn |
| 9 | Centene | 30.70 Bn | -59.59 Bn | 14.55 Bn | 497.64 Mn |
| 10 | Molina Healthcare | 9.83 Bn | -25.04 Bn | 1.43 Bn | 51.30 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 217.90 Mn |
| Mar 31, 2026 | 220.40 Mn |
| Dec 31, 2025 | 224.60 Mn |
| Sep 30, 2025 | 223.70 Mn |
| Jun 30, 2025 | 225.80 Mn |
| Mar 31, 2025 | 227.20 Mn |
| Dec 31, 2024 | 232.90 Mn |
| Sep 30, 2024 | 233.10 Mn |
| Jun 30, 2024 | 233.40 Mn |
| Mar 31, 2024 | 234.20 Mn |
| Dec 31, 2023 | 237.40 Mn |
| Sep 30, 2023 | 236.50 Mn |
| Jun 30, 2023 | 237.80 Mn |
| Mar 31, 2023 | 239.70 Mn |
| Dec 31, 2022 | 242.80 Mn |
| Sep 30, 2022 | 242.20 Mn |
| Jun 30, 2022 | 243.40 Mn |
| Mar 31, 2022 | 244.40 Mn |
| Dec 31, 2021 | 246.80 Mn |
| Sep 30, 2021 | 246.00 Mn |
API Access
Elevance Health Shares Outstanding (Diluted) 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=shares-outstanding-diluted&ticker=ELV&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "shares-outstanding-diluted", "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=shares-outstanding-diluted&ticker=ELV&period=max&api_key=YOUR_API_KEY");
const data = await res.json();