ELEVANCE HEALTH, INC.
Fiscal years labelled by the calendar year in which they end. Bars in $ billions; per-share figures as reported.
CAPITALIZATION 12/31/25
| ($ millions) | Amount | % |
|---|---|---|
| Total debt | 32,046 | 42.2 |
| Stockholders' equity | 43,882 | 57.8 |
| Total capitalization | 75,928 | 100.0 |
216,869,290 shares outstanding at 10 July 2026 (cover page of the 10-Q filed 15 July 2026).
LONG-TERM DEBT 12/31/25
| ($ millions) | Amount |
|---|---|
| Long-term debt, incl. current maturities | 31,896 |
| Long-term debt, noncurrent | 30,797 |
| Current maturities | 1,099 |
| Short-term borrowings / commercial paper | 150 |
CAPITAL STOCK 12/31/25
| Common shares authorized | 900,000,000 |
| Common shares issued | 220,723,898 |
| Par or stated value per share ($) | 0.01 |
| Preferred stock ($ millions) | 0 |
| Outstanding at 7/10/26 | 216,869,290 |
DIVIDENDS DECLARED/PAID
| Fiscal year | Per share $ | Payout % |
|---|---|---|
| 2025 | – | – |
| 2024 | – | – |
| 2023 | 5.92 | 23.5 |
| 2022 | 5.12 | 21.1 |
| 2021 | 4.52 | 18.1 |
HISTORY AND BUSINESS
HISTORY: Incorporated in Indiana. Formerly known as Anthem, Inc. (to 24 June 2022); WELLPOINT, INC (to 12 November 2014); WELLPOINT INC (to 21 December 2009); ANTHEM INC (to 30 November 2004).
BUSINESS: Classified by the SEC under Standard Industrial Classification 6324, Hospital & Medical Service Plans. Large accelerated filer. Principal executive office: 220 Virginia Avenue, Indianapolis, IN 46204. Fiscal year ends December 31. For a description of the business, see Item 1 of the latest 10-K.
CONSOLIDATED INCOME ACCOUNT, YEARS ENDED
| ($ millions) | 12/31/25 | 12/31/24 | 12/31/23 |
|---|---|---|---|
| Premiums earned | 164,639 | 144,166 | 142,854 |
| Net investment income | 2,194 | 2,051 | 1,825 |
| Total revenues | 199,125 | 177,011 | 171,340 |
| Benefits, losses and expenses | 192,415 | 169,107 | 163,625 |
| Income before income taxes | 6,710 | 7,904 | 7,715 |
| Income taxes | 1,049 | 1,933 | 1,724 |
| Net income | 5,662 | 5,980 | 5,987 |
| Earned per share, diluted ($) | 25.21 | 25.68 | 25.22 |
| Dividends per share ($) | – | – | 5.92 |
CONSOLIDATED BALANCE SHEET
| ($ millions) | 12/31/25 | 12/31/24 |
|---|---|---|
| Cash and equivalents | 9,491 | 8,288 |
| Total assets | 121,494 | 116,889 |
| Policy liabilities and reserves | 145 | 190 |
| Debt | 31,896 | 30,867 |
| Total liabilities | 77,468 | 75,463 |
| Stockholders' equity | 43,882 | 41,315 |
TEN-YEAR STATISTICS: FISCAL YEARS ($ millions except per share)
| Fiscal year ended | Revenues | Oper. income | Net income | Net margin % | EPS diluted $ | Div. per share $ | Oper. cash flow | Total assets | Total liabilities | Total debt | Deposits | Stockholders' equity | ROE % | Debt / equity |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 12/31/25 | 199,125 | 7,199 | 5,662 | 2.8 | 25.21 | – | 4,290 | 121,494 | 77,468 | 32,046 | – | 43,882 | 12.9 | 0.73 |
| 12/31/24 | 177,011 | 7,862 | 5,980 | 3.4 | 25.68 | – | 5,808 | 116,889 | 75,463 | 31,232 | – | 41,315 | 14.5 | 0.76 |
| 12/31/23 | 171,340 | 8,499 | 5,987 | 3.5 | 25.22 | 5.92 | 8,061 | 108,928 | 69,523 | 25,120 | – | 39,306 | 15.2 | 0.64 |
| 12/31/22 | 156,595 | 8,283 | 5,894 | 3.8 | 24.28 | 5.12 | 8,399 | 102,755 | 66,425 | 24,114 | – | 36,243 | 16.3 | 0.67 |
| 12/31/21 | 138,639 | 7,559 | 6,158 | 4.4 | 24.95 | 4.52 | 8,364 | 97,460 | 61,332 | 23,031 | – | 36,060 | 17.1 | 0.64 |
| 12/31/20 | 121,867 | 6,360 | 4,572 | 3.8 | 17.98 | 3.80 | 10,688 | 86,615 | 53,416 | 20,035 | – | 33,199 | 13.8 | 0.60 |
| 12/31/19 | 104,213 | 5,999 | 4,807 | 4.6 | 18.47 | 3.20 | 6,061 | 77,453 | 45,725 | 20,085 | – | 31,728 | 15.2 | 0.63 |
| 12/31/18 | 92,105 | 5,426 | 3,750 | 4.1 | 14.19 | 3.00 | 3,827 | 71,571 | 43,030 | 19,211 | – | 28,541 | 13.1 | 0.67 |
| 12/31/17 | 90,040 | 4,175 | 3,843 | 4.3 | 14.35 | 2.70 | 4,185 | 70,540 | 44,037 | 19,932 | – | 26,503 | 14.5 | 0.75 |
| 12/31/16 | 84,863 | 4,801 | 2,470 | 2.9 | 9.21 | 2.60 | 3,270 | 65,083 | 39,983 | 15,727 | – | 25,101 | 9.8 | 0.63 |
Net margin = net income ÷ revenues; ROE = net income ÷ year-end stockholders’ equity; total debt = long-term debt including current maturities plus short-term borrowings/commercial paper, as tagged in XBRL; capital expenditure and free cash flow are not shown for banks and insurers, where they are not meaningful; d = derived as total assets − total equity where the filing does not tag total liabilities; – = not reported in XBRL for that year.
REGISTRANT:
Elevance Health, Inc.
CIK 1156039 · EIN 35-2145715
PRINCIPAL OFFICE:
220 Virginia Avenue, Indianapolis, IN 46204
Tel.: 8003311476
INCORPORATED:
Indiana
INDUSTRY (SEC SIC CODE):
6324 · Hospital & Medical Service Plans
FILER STATUS:
Large accelerated filer
LATEST ANNUAL REPORT:
10-K for period ended 12/31/25, filed 6 February 2026
FORMER NAMES:
Anthem, Inc.; WELLPOINT, INC; WELLPOINT INC
Sources: SEC XBRL company facts (all financial figures) · SEC submissions (registrant, address, SIC, filings) · annual reports: 10-K FY2025 (filed 2/6/26) · 10-K FY2024 (filed 2/20/25) · 10-K FY2023 (filed 2/21/24) · 10-K FY2022 (filed 2/15/23) · 10-K FY2021 (filed 2/16/22) · 10-K FY2020 (filed 2/18/21) · 10-K FY2019 (filed 2/19/20) · 10-K FY2018 (filed 2/20/19). Values are the latest figures filed for each fiscal year (restated where a later 10-K restated them). Ratios and free cash flow are Pathos calculations from those figures. Retrieved 31 October 2026.
Data from SEC filings. © 2026 Pathos Investments · pathosinvestments.com · For educational purposes only. Not investment advice.