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Elevance Health Valuation Multiples

Discover revenue and EBITDA valuation multiples for Elevance Health and similar public comparables like Challenger, NN Group, and ASR Nederland.

Elevance Health Overview

About Elevance Health

Elevance Health remains one of the leading health insurers in the US, providing medical benefits to 46 million medical members as of December 2024. The company offers employer, individual, and government-sponsored coverage plans. Elevance differs from its peers in its unique position as the largest single provider of Blue Cross Blue Shield branded coverage, operating as the licensee for the Blue Cross Blue Shield Association in 14 states. Through acquisitions, such as the Amerigroup deal in 2012 and MMM in 2021, Elevance's reach expands beyond those states through government-sponsored programs, such as Medicaid and Medicare Advantage plans, too. It is also an emerging player in pharmacy benefit management and other healthcare services.


Founded

2001

HQ

United States of America
Employees

104.2K+

Financials

LTM Revenue $185B

LTM EBITDA $11.3B

EV

$101B

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Elevance Health Financials

Elevance Health has a last 12-month revenue (LTM) of $185B and a last 12-month EBITDA of $11.3B.

In the most recent fiscal year, Elevance Health achieved revenue of $177B and an EBITDA of n/a.

Elevance Health expects next 12-month revenue of  XXX    and NTM EBITDA of  XXX

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Elevance Health P&L

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue $185B XXX $177B XXX XXX XXX
Gross Profit $165B XXX n/a XXX XXX XXX
Gross Margin 89% XXX n/a XXX XXX XXX
EBITDA $11.3B XXX n/a XXX XXX XXX
EBITDA Margin 6% XXX n/a XXX XXX XXX
EBIT $9.2B XXX n/a XXX XXX XXX
EBIT Margin 5% XXX n/a XXX XXX XXX
Net Profit $7.7B XXX $6.0B XXX XXX XXX
Net Margin 4% XXX 3% XXX XXX XXX
Net Debt XXX XXX $22.9B XXX XXX XXX

Financial data powered by Morningstar, Inc.

Elevance Health Stock Performance

As of July 4, 2025, Elevance Health's stock price is $348.

Elevance Health has current market cap of $78.6B, and EV of $101B.

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Elevance Health Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$101B $78.6B XXX XXX XXX XXX $33.77

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Elevance Health Valuation Multiples

As of July 4, 2025, Elevance Health has market cap of $78.6B and EV of $101B.

Elevance Health's trades at 0.6x EV/Revenue multiple, and n/a EV/EBITDA.

Equity research analysts estimate Elevance Health's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

Elevance Health has a P/E ratio of 10.2x.

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Elevance Health Financial Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Market cap (current) $78.6B XXX $78.6B XXX XXX XXX
EV (current) $101B XXX $101B XXX XXX XXX
EV/Revenue 0.5x XXX 0.6x XXX XXX XXX
EV/EBITDA 9.0x XXX n/a XXX XXX XXX
EV/EBIT 11.0x XXX n/a XXX XXX XXX
EV/Gross Profit 0.6x XXX n/a XXX XXX XXX
P/E 10.2x XXX 13.1x XXX XXX XXX
EV/FCF 16.9x XXX 22.2x XXX XXX XXX

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Elevance Health Margins & Growth Rates

Elevance Health's last 12 month revenue growth is 9%

Elevance Health's revenue per employee in the last FY averaged $1.7M, while opex per employee averaged n/a for the same period.

Elevance Health's rule of 40 is unknown (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Elevance Health's rule of X is 29% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

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Elevance Health Operational Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue Growth 9% XXX 9% XXX XXX XXX
EBITDA Margin 6% XXX n/a XXX XXX XXX
EBITDA Growth 10% XXX n/a XXX XXX XXX
Rule of 40 n/a XXX n/a XXX XXX XXX
Bessemer Rule of X XXX XXX 29% XXX XXX XXX
Revenue per Employee XXX XXX $1.7M XXX XXX XXX
Opex per Employee XXX XXX n/a XXX XXX XXX
S&M Expenses to Revenue XXX XXX n/a XXX XXX XXX
G&A Expenses to Revenue XXX XXX n/a XXX XXX XXX
R&D Expenses to Revenue XXX XXX n/a XXX XXX XXX
Opex to Revenue XXX XXX n/a XXX XXX XXX

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Elevance Health Public Comps

See public comps and valuation multiples for Insurance Carriers and Health Benefits & Financial Solutions comps
EV/Revenue EV/EBITDA
2025E 2026E 2027E 2025E 2026E 2027E
ADNIC XXX XXX XXX XXX XXX XXX
Aegon XXX XXX XXX XXX XXX XXX
ASR Nederland XXX XXX XXX XXX XXX XXX
NN Group XXX XXX XXX XXX XXX XXX
Challenger XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX

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Elevance Health M&A and Investment Activity

Elevance Health acquired  XXX companies to date.

Last acquisition by Elevance Health was  XXXXXXXX, XXXXX XXXXX XXXXXX . Elevance Health acquired  XXXXXXXX for  XXX (EV/Revenue multiple of  XXX ).

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Latest Acquisitions by Elevance Health

Acquired Company EV EV/Revenue EV/EBITDA
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX

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About Elevance Health

When was Elevance Health founded? Elevance Health was founded in 2001.
Where is Elevance Health headquartered? Elevance Health is headquartered in United States of America.
How many employees does Elevance Health have? As of today, Elevance Health has 104.2K+ employees.
Who is the CEO of Elevance Health? Elevance Health's CEO is Ms. Gail Koziara Boudreaux.
Is Elevance Health publicy listed? Yes, Elevance Health is a public company listed on NYS.
What is the stock symbol of Elevance Health? Elevance Health trades under ELV ticker.
When did Elevance Health go public? Elevance Health went public in 2001.
Who are competitors of Elevance Health? Similar companies to Elevance Health include e.g. ADNIC, Aegon, ASR Nederland, NN Group.
What is the current market cap of Elevance Health? Elevance Health's current market cap is $78.6B
What is the current revenue of Elevance Health? Elevance Health's last 12 months revenue is $185B.
What is the current revenue growth of Elevance Health? Elevance Health revenue growth (NTM/LTM) is 9%.
What is the current EV/Revenue multiple of Elevance Health? Current revenue multiple of Elevance Health is 0.5x.
Is Elevance Health profitable? Yes, Elevance Health is EBITDA-positive (as of the last 12 months).
What is the current EBITDA of Elevance Health? Elevance Health's last 12 months EBITDA is $11.3B.
What is Elevance Health's EBITDA margin? Elevance Health's last 12 months EBITDA margin is 6%.
What is the current EV/EBITDA multiple of Elevance Health? Current EBITDA multiple of Elevance Health is 9.0x.
What is the current FCF of Elevance Health? Elevance Health's last 12 months FCF is $6.0B.
What is Elevance Health's FCF margin? Elevance Health's last 12 months FCF margin is 3%.
What is the current EV/FCF multiple of Elevance Health? Current FCF multiple of Elevance Health is 16.9x.

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