Elevance Health, Inc. income statement & cash flow
In the fiscal year ended Dec 31, 2025, Elevance Health, Inc. reported net income of $5.66B on revenue of $199.12B. Operating cash flow was $4.29B and capital expenditures were $1.12B, leaving $3.17B of free cash flow (operating cash flow minus capital expenditures).
Income statement and cash flow summary
| Fiscal year ended | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $84.86B | $90.04B | $92.11B | $104.21B | $121.87B | $138.64B | $156.59B | $171.34B | $177.01B | $199.12B |
| Operating income | $4.80B | $4.17B | $5.43B | $6.00B | $6.36B | $7.56B | $8.28B | $8.50B | $7.86B | $7.20B |
| Net income | $2.47B | $3.84B | $3.75B | $4.81B | $4.57B | $6.16B | $5.89B | $5.99B | $5.98B | $5.66B |
| Diluted EPS | $9.21 | $14.35 | $14.19 | $18.47 | $17.98 | $24.95 | $24.28 | $25.22 | $25.68 | $25.21 |
| Operating cash flow | $3.27B | $4.18B | $3.83B | $6.06B | $10.69B | $8.36B | $8.40B | $8.06B | $5.81B | $4.29B |
| Capital expenditures | $584.00M | $791.00M | $1.21B | $1.08B | $1.02B | $1.09B | $1.15B | $1.30B | $1.26B | $1.12B |
| Reported in | 10-K 2019 | 10-K 2020 | 10-K 2021 | 10-K 2022 | 10-K 2023 | 10-K 2024 | 10-K 2025 | 10-K 2026 | 10-K 2026 | 10-K 2026 |
Margins
Each figure divided by revenue for the same fiscal year.
| Fiscal year ended | Gross margin | Operating margin | Net margin |
|---|---|---|---|
| Dec 2025 | — | 3.6% | 2.8% |
| Dec 2024 | — | 4.4% | 3.4% |
| Dec 2023 | — | 5.0% | 3.5% |
| Dec 2022 | — | 5.3% | 3.8% |
| Dec 2021 | — | 5.5% | 4.4% |
Source: SEC EDGAR XBRL company facts for CIK 1156039 (raw data). Most recent filing in this dataset: 10-Q filed Oct 21, 2026. SEC data file dated Nov 3, 2026; page built Nov 5, 2026. Figures are as most recently reported, including restatements. How we select figures.