Elevance Health (ELV) Revenue & Revenue Breakdown

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Elevance Health Revenue Highlights

Latest Revenue (Y)

$199.13B

Latest Revenue (Q)

$50.71B

Main Segment (Y)

Health Benefits Segment

Elevance Health Revenue by Period

Elevance Health Revenue by Year

Date	Revenue	Change
2025-12-31	$199.13B	12.62%
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	24.26%
2003-12-31	$16.75B	26.38%
2002-12-31	$13.26B	26.91%
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 $199.13B in revenue during NA 2025, up 12.62% compared to the previous quarter, and up 163.40% 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 25	Dec 24	Dec 23	Dec 22	Dec 21
Carelon Services Segment	$71.72B	$53.92B	$95.96B	-	-
Health Benefits Segment	$167.09B	$150.28B	$148.57B	-	-
Other Segment	-	-	$479.00M	$13.29B	$10.25B
Segment Eliminations	-	-	$-340.00M	$-24.64B	$-20.47B
Government Business Segment	-	-	-	$96.81B	$82.92B
IngenioRx Segment	-	-	-	$14.97B	$12.78B
Commercial Specialty Business Segment	-	-	-	$41.67B	$38.81B

Elevance Health's latest annual revenue breakdown by segment (product or service), as of Dec 25: Health Benefits Segment (69.97%), and Carelon Services Segment (30.03%).

Quarterly Revenue by Product

Product/Service	Dec 25	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
Carelon Services Segment	$18.66B	$18.32B	$18.08B	$16.65B	-	$27.56B	$26.64B	$24.15B	$25.69B	$23.78B	$23.81B	$22.67B	-	-	-	-	-	-	-	-
Health Benefits Segment	$41.84B	$42.25B	$41.58B	$41.43B	$37.58B	$38.28B	$37.16B	$37.26B	$36.55B	$36.74B	$38.00B	$37.28B	-	-	-	-	-	-	-	-
Other Segment	-	-	-	-	-	-	-	-	-	$242.00M	$326.00M	$251.00M	$3.41B	$3.37B	$3.30B	$3.22B	$2.69B	$2.67B	$2.52B	$2.37B
Segment Eliminations	-	-	-	-	-	-	-	-	-	$-97.00M	$-73.00M	$-76.00M	-	$-6.05B	$-6.28B	$-6.04B	-	$-5.19B	$-5.07B	$-4.91B
IngenioRx Segment	-	-	-	-	-	-	-	-	-	-	-	-	-	$7.25B	$7.07B	$6.68B	-	$6.55B	$6.22B	$5.86B
Government Business Segment	-	-	-	-	-	-	-	-	-	-	-	-	$24.65B	$24.57B	$23.84B	$23.76B	$21.91B	$21.66B	$20.07B	$19.28B
Commercial Specialty Business Segment	-	-	-	-	-	-	-	-	-	-	-	-	$10.35B	$10.49B	$10.56B	$10.27B	$9.90B	$9.86B	$9.55B	$9.49B

Elevance Health's latest quarterly revenue breakdown by segment (product or service), as of Dec 25: Health Benefits Segment (69.16%), and Carelon Services Segment (30.84%).

Elevance Health Peer Comparison by Revenue

Ticker	Company	Last Year Revenue	Last Quarter Revenue
CVS	CVS Health	$402.07B	$102.87B
COR	Cencora	$321.33B	$85.93B
CI	Cigna	$274.95B	$69.75B
ELV	Elevance Health	$199.13B	$50.71B
HUM	Humana	$129.66B	$32.65B
GSK	GSK	$30.33B	$7.36B
BDX	Becton, Dickinson and	$21.84B	$5.25B
GEHC	GE HealthCare	$19.60B	$5.14B
REGN	Regeneron Pharmaceuticals	$14.34B	$3.75B
ZTS	Zoetis	$9.47B	$2.40B
IDXX	IDEXX Laboratories	$4.30B	$1.11B

ELV Revenue FAQ

What is Elevance Health’s yearly revenue?

Elevance Health's yearly revenue for 2025 was $199.12B, representing an increase of 12.62% compared to 2024. The company's yearly revenue for 2024 was $176.81B, representing an increase of 3.19% compared to 2023. ELV's yearly revenue for 2023 was $171.34B, representing an increase of 9.42% compared to 2022.

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 (2023-2025) was 16.22%, and for the last 5 years (2021-2025) was 43.63%.

What are Elevance Health’s revenue streams?

Elevance Health's revenue streams in c 25 are Carelon Services Segment, and Health Benefits Segment. Carelon Services Segment generated $71.72B in revenue, accounting 30.03% of the company's total revenue, up 33.00% year-over-year. Health Benefits Segment generated $167.09B in revenue, accounting 69.97% of the company's total revenue, up 11.19% year-over-year.

What is Elevance Health’s main source of revenue?

For the fiscal year ending Dec 25, the largest source of revenue of Elevance Health was Health Benefits Segment. This segment made a revenue of $167.09B, representing 69.97% of the company's total revenue.