Elevance Health (ELV) Revenue & Revenue Breakdown

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Elevance Health Revenue Highlights

Latest Revenue (Y)

$176.81B

Latest Revenue (Q)

$50.71B

Main Segment (Y)

Health Benefits Segment

Elevance Health Revenue by Period

Elevance Health Revenue by Year

Date	Revenue	Change
2024-12-31	$176.81B	3.19%
2023-12-31	$171.34B	9.42%
2022-12-31	$156.59B	12.95%
2021-12-31	$138.64B	13.76%
2020-12-31	$121.87B	16.94%
2019-12-31	$104.21B	13.15%
2018-12-31	$92.11B	2.29%
2017-12-31	$90.04B	5.96%
2016-12-31	$84.98B	7.24%
2015-12-31	$79.24B	7.19%
2014-12-31	$73.92B	3.94%
2013-12-31	$71.12B	15.58%
2012-12-31	$61.53B	1.20%
2011-12-31	$60.80B	3.34%
2010-12-31	$58.84B	-4.55%
2009-12-31	$61.64B	-1.30%
2008-12-31	$62.46B	1.73%
2007-12-31	$61.39B	7.69%
2006-12-31	$57.01B	26.26%
2005-12-31	$45.15B	116.91%
2004-12-31	$20.82B	24.12%
2003-12-31	$16.77B	26.27%
2002-12-31	$13.28B	27.17%
2001-12-31	$10.44B	-39.68%
2000-12-31	$17.31B	40.19%
1999-12-31	$12.35B	11.55%
1998-12-31	$11.07B	-

Elevance Health generated $176.81B in revenue during NA 2024, up 3.19% compared to the previous quarter, and up 169.66% compared to the same period a year ago.

Elevance Health Revenue by Quarter

Date	Revenue	Change
2025-09-30	$50.71B	1.88%
2025-06-30	$49.78B	1.81%
2025-03-31	$48.89B	7.59%
2024-12-31	$45.44B	0.66%
2024-09-30	$45.15B	3.43%
2024-06-30	$43.65B	2.51%
2024-03-31	$42.58B	-0.16%
2023-12-31	$42.65B	-0.47%
2023-09-30	$42.85B	-1.88%
2023-06-30	$43.67B	3.56%
2023-03-31	$42.17B	5.62%
2022-12-31	$39.93B	-0.03%
2022-09-30	$39.94B	3.38%
2022-06-30	$38.63B	1.41%
2022-03-31	$38.09B	4.14%
2021-12-31	$36.58B	2.12%
2021-09-30	$35.82B	5.82%
2021-06-30	$33.85B	4.53%
2021-03-31	$32.38B	1.76%
2020-12-31	$31.82B	2.14%
2020-09-30	$31.16B	6.47%
2020-06-30	$29.26B	-1.21%
2020-03-31	$29.62B	8.08%
2019-12-31	$27.41B	2.75%
2019-09-30	$26.67B	4.74%
2019-06-30	$25.47B	3.24%
2019-03-31	$24.67B	5.53%
2018-12-31	$23.37B	0.52%
2018-09-30	$23.25B	1.34%
2018-06-30	$22.94B	1.80%
2018-03-31	$22.54B	-0.63%
2017-12-31	$22.68B	1.13%
2017-09-30	$22.43B	0.08%
2017-06-30	$22.41B	-0.53%
2017-03-31	$22.53B	3.68%
2016-12-31	$21.73B	1.45%
2016-09-30	$21.41B	-0.19%
2016-06-30	$21.46B	5.76%
2016-03-31	$20.29B	0.50%
2015-12-31	$20.19B	1.44%
2015-09-30	$19.90B	-0.57%
2015-06-30	$20.02B	5.06%
2015-03-31	$19.05B	0.35%
2014-12-31	$18.98B	2.30%
2014-09-30	$18.56B	0.45%
2014-06-30	$18.47B	3.44%
2014-03-31	$17.86B	1.64%
2013-12-31	$17.57B	-2.22%
2013-09-30	$17.97B	0.98%
2013-06-30	$17.80B	0.61%
2013-03-31	$17.69B	13.85%
2012-12-31	$15.54B	1.19%
2012-09-30	$15.35B	-0.35%
2012-06-30	$15.41B	-0.05%
2012-03-31	$15.42B	0.64%
2011-12-31	$15.32B	-0.52%
2011-09-30	$15.40B	1.97%
2011-06-30	$15.10B	1.39%
2011-03-31	$14.89B	1.68%
2010-12-31	$14.65B	0.34%
2010-09-30	$14.60B	0.98%
2010-06-30	$14.46B	-4.25%
2010-03-31	$15.10B	-20.73%
2009-12-31	$19.05B	-

Elevance Health generated $50.71B in revenue during Q3 2025, up 1.88% compared to the previous quarter, and up 116.19% compared to the same period a year ago.

Elevance Health Revenue Breakdown

Elevance Health Revenue Breakdown by Product

Annual Revenue by Product

Product/Service	Dec 24	Dec 23	Dec 22	Dec 21	Dec 20
Health Benefits Segment	$150.28B	$148.57B	-	-	-
Carelon Services Segment	$53.92B	$95.96B	-	-	-
Other Segment	-	$479.00M	$13.29B	$10.25B	$2.15B
Segment Eliminations	-	$-340.00M	$-24.64B	$-20.47B	-
IngenioRx Segment	-	-	$14.97B	$12.78B	$10.38B
Government Business Segment	-	-	$96.81B	$82.92B	$71.57B
Commercial Specialty Business Segment	-	-	$41.67B	$38.81B	$36.70B

Elevance Health's latest annual revenue breakdown by segment (product or service), as of Dec 24: Health Benefits Segment (73.59%), and Carelon Services Segment (26.41%).

Quarterly Revenue by Product

Product/Service	Sep 25	Jun 25	Mar 25	Dec 24	Sep 24	Jun 24	Mar 24	Dec 23	Sep 23	Jun 23	Mar 23	Dec 22	Sep 22	Jun 22	Mar 22	Dec 21	Sep 21	Jun 21	Mar 21	Dec 20
Health Benefits Segment	$42.25B	$41.58B	$41.43B	$37.58B	$38.28B	$37.16B	$37.26B	$36.55B	$36.74B	$38.00B	$37.28B	-	-	-	-	-	-	-	-	-
Carelon Services Segment	$18.32B	$18.08B	$16.65B	-	$27.56B	$26.64B	$24.15B	$25.69B	$23.78B	$23.81B	$22.67B	-	-	-	-	-	-	-	-	-
Segment Eliminations	-	-	-	-	-	-	-	-	$-97.00M	$-73.00M	$-76.00M	-	$-6.05B	$-6.28B	$-6.04B	-	$-5.19B	$-5.07B	$-4.91B	-
Other Segment	-	-	-	-	-	-	-	-	$242.00M	$326.00M	$251.00M	$3.41B	$3.37B	$3.30B	$3.22B	$2.69B	$2.67B	$2.52B	$2.37B	-
Commercial Specialty Business Segment	-	-	-	-	-	-	-	-	-	-	-	$10.35B	$10.49B	$10.56B	$10.27B	$9.90B	$9.86B	$9.55B	$9.49B	$9.22B
IngenioRx Segment	-	-	-	-	-	-	-	-	-	-	-	-	$7.25B	$7.07B	$6.68B	-	$6.55B	$6.22B	$5.86B	$45.00M
Government Business Segment	-	-	-	-	-	-	-	-	-	-	-	$24.65B	$24.57B	$23.84B	$23.76B	$21.91B	$21.66B	$20.07B	$19.28B	$54.11B

Elevance Health's latest quarterly revenue breakdown by segment (product or service), as of Sep 25: Health Benefits Segment (69.75%), and Carelon Services Segment (30.25%).

Elevance Health Peer Comparison by Revenue

Ticker	Company	Last Year Revenue	Last Quarter Revenue
CVS	CVS Health	$372.81B	$98.92B
MCK	McKesson	$308.95B	$97.83B
COR	Cencora	$293.96B	$80.66B
CI	Cigna	$247.12B	$67.18B
ELV	Elevance Health	$176.81B	$50.71B
HUM	Humana	$117.76B	$32.39B
HCA	HCA Healthcare	$70.60B	$18.61B
BMY	Bristol-Myers Squibb	$48.30B	$12.27B
GSK	GSK	$30.33B	$7.36B
REGN	Regeneron Pharmaceuticals	$14.20B	$3.75B
ZTS	Zoetis	$9.26B	$2.46B

ELV Revenue FAQ

What is Elevance Health’s yearly revenue?

Elevance Health's yearly revenue for 2024 was $176.81B, representing an increase of 3.19% compared to 2023. The company's yearly revenue for 2023 was $171.34B, representing an increase of 9.42% compared to 2022. ELV's yearly revenue for 2022 was $156.6B, representing an increase of 12.95% compared to 2021.

What is Elevance Health’s quarterly revenue?

Elevance Health's quarterly revenue for Q3 2025 was $50.71B, a 1.88% increase from the previous quarter (Q2 2025), and a 12.33% increase year-over-year (Q3 2024). The company's quarterly revenue for Q2 2025 was $49.78B, a 1.81% increase from the previous quarter (Q1 2025), and a 14.04% increase year-over-year (Q2 2024). ELV's quarterly revenue for Q1 2025 was $48.89B, a 7.59% increase from the previous quarter (Q4 2024), and a 14.83% increase year-over-year (Q1 2024).

What is Elevance Health’s revenue growth rate?

Elevance Health's revenue growth rate for the last 3 years (2022-2024) was 12.91%, and for the last 5 years (2020-2024) was 45.08%.

What are Elevance Health’s revenue streams?

Elevance Health's revenue streams in c 24 are Health Benefits Segment, and Carelon Services Segment. Health Benefits Segment generated $150.28B in revenue, accounting 73.59% of the company's total revenue, up 1.15% year-over-year. Carelon Services Segment generated $53.92B in revenue, accounting 26.41% of the company's total revenue, down -43.81% year-over-year.

What is Elevance Health’s main source of revenue?

For the fiscal year ending Dec 24, the largest source of revenue of Elevance Health was Health Benefits Segment. This segment made a revenue of $150.28B, representing 73.59% of the company's total revenue.