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Elevance Health Valuation Multiples
Discover revenue and EBITDA valuation multiples for Elevance Health and similar public comparables like Travelers, Generali, Life Insurance Corporation of India, Aflac and more.
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 June 2025. 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
Employees
97.1K
Website
Financials (LTM)
EV
$87B
Elevance Health Financials
Elevance Health reported last 12-month revenue of $197B and EBITDA of $10B.
In the same LTM period, Elevance Health generated $175B in gross profit, $10B in EBITDA, and $7B in net income.
Revenue (LTM)
Elevance Health P&L
In the most recent fiscal year, Elevance Health reported revenue of $199B and EBITDA of $10B.
Elevance Health expects next 12-month revenue of XXX and NTM EBITDA of XXX
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue | $197B | XXX | $199B | XXX | XXX | XXX |
| Gross Profit | $175B | XXX | — | XXX | XXX | XXX |
| Gross Margin | 89% | XXX | — | XXX | XXX | XXX |
| EBITDA | $10B | XXX | $10B | XXX | XXX | XXX |
| EBITDA Margin | 5% | XXX | 5% | XXX | XXX | XXX |
| EBIT Margin | 4% | XXX | 4% | XXX | XXX | XXX |
| Net Profit | $7B | XXX | $7B | XXX | XXX | XXX |
| Net Margin | 3% | XXX | 3% | XXX | XXX | XXX |
| Net Debt | — | — | $23B | XXX | XXX | XXX |
Financial data powered by Morningstar, Inc.
Elevance Health Stock Performance
Elevance Health has current market cap of $65B, and enterprise value of $87B.
Market Cap Evolution
Elevance Health's stock price is $294.07.
| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $87B | $65B | 0.0% | XXX | XXX | XXX | $30.83 |
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Start Free TrialElevance Health Valuation Multiples
Elevance Health trades at 0.4x EV/Revenue multiple, and 9.0x EV/EBITDA.
EV / Revenue (LTM)
Elevance Health Financial Valuation Multiples
As of March 18, 2026, Elevance Health has market cap of $65B and EV of $87B.
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 9.9x.
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $65B | XXX | $65B | XXX | XXX | XXX |
| EV (current) | $87B | XXX | $87B | XXX | XXX | XXX |
| EV/Revenue | 0.4x | XXX | 0.4x | XXX | XXX | XXX |
| EV/EBITDA | 9.0x | XXX | 8.9x | XXX | XXX | XXX |
| EV/EBIT | 10.7x | XXX | 10.7x | XXX | XXX | XXX |
| EV/Gross Profit | 0.5x | XXX | — | XXX | XXX | XXX |
| P/E | 9.9x | XXX | 9.5x | XXX | XXX | XXX |
| EV/FCF | 25.0x | XXX | 27.6x | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Verified Elevance Health Valuation Multiples
Access all public comps and forward-looking valuation multiples like EV/Revenue in 2027, based on consensus analyst estimates. Powered by FactSet and Morningstar.
Elevance Health Margins & Growth Rates
Elevance Health's revenue in the last 12 month declined by (1%).
Elevance Health's revenue per employee in the last FY averaged $2.0M.
Elevance Health's rule of 40 is 4% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
Elevance Health's rule of X is 2% (created by Bessemer, rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).
Elevance Health Operational Valuation Multiples
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue Growth | (1%) | XXX | (3%) | XXX | XXX | XXX |
| EBITDA Margin | 5% | XXX | 5% | XXX | XXX | XXX |
| EBITDA Growth | (2%) | XXX | (4%) | XXX | XXX | XXX |
| Rule of 40 | — | XXX | 4% | XXX | XXX | XXX |
| Bessemer Rule of X | — | XXX | 2% | XXX | XXX | XXX |
| Revenue per Employee | — | XXX | $2.0M | XXX | XXX | XXX |
| G&A Expenses to Revenue | 11% | XXX | — | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Elevance Health Public Comps
See public comps and valuation multiples for other Insurance Carriers and Health Benefits & Financial Solutions comps.
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| LTM | 2026E | 2027E | LTM | 2026E | 2027E | |
| Travelers | XXX | XXX | XXX | XXX | XXX | XXX |
| Generali | XXX | XXX | XXX | XXX | XXX | XXX |
| Life Insurance Corporation of India | XXX | XXX | XXX | XXX | XXX | XXX |
| Aflac | XXX | XXX | XXX | XXX | XXX | XXX |
| Manulife | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc.
Elevance Health M&A Activity
Elevance Health acquired XXX companies to date.
Last acquisition by Elevance Health was on XXXXXXXX, XXXXX. Elevance Health acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Acquisitions by Elevance Health
| Acquired Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialElevance Health Investment Activity
Elevance Health invested in XXX companies to date.
Elevance Health made its latest investment on XXXXXXXX, XXXXX. Elevance Health invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Investments by Elevance Health
| Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialAbout 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. |
| How many employees does Elevance Health have? | As of today, Elevance Health has over 97K employees. |
| Who is the CEO of Elevance Health? | Elevance Health's CEO is Gail Koziara Boudreaux. |
| Is Elevance Health publicly listed? | Yes, Elevance Health is a public company listed on NYSE. |
| 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? | Elevance Health main competitors are Travelers, Generali, Life Insurance Corporation of India, Aflac. |
| What is the current market cap of Elevance Health? | Elevance Health's current market cap is $65B. |
| What is the current revenue of Elevance Health? | Elevance Health's last 12 months revenue is $197B. |
| What is the current revenue growth of Elevance Health? | Elevance Health revenue growth (NTM/LTM) is (1%). |
| What is the current EV/Revenue multiple of Elevance Health? | Current revenue multiple of Elevance Health is 0.4x. |
| 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 $10B. |
| What is Elevance Health's EBITDA margin? | Elevance Health's last 12 months EBITDA margin is 5%. |
| 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 $3B. |
| What is Elevance Health's FCF margin? | Elevance Health's last 12 months FCF margin is 2%. |
| What is the current EV/FCF multiple of Elevance Health? | Current FCF multiple of Elevance Health is 25.0x. |
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