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Elevance Health (ELV) Revenue by Segment

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Revenue by Segment

Breaks down earnings from different business units, highlighting which segments drive growth and where strategic focus may be needed.

$0.00$10.00B$20.00B$30.00B$40.00B$50.00BMar 21Jun 21Sep 21Dec 21Mar 22Jun 22Sep 22Dec 22Mar 23Jun 23Sep 23Dec 23Mar 24Jun 24Sep 24Dec 24Mar 25Jun 25Sep 25Dec 25Mar 26Jun 26Sep 26
Chart Insights

Premiums are the primary growth driver, accelerating since 2024 and underpinning the stronger cash flow and the raise in EPS guidance; growth looks driven by pricing/membership mix and improving Medicare Advantage performance. Product revenue has grown materially, aligning with Carelon/CarelonRx and integrated medical+pharmacy momentum and offering durable upside. Still, Medicaid margin pressure, planned market exits and near‑term investments mean revenue gains may lag margin recovery, and the Q2 $0.80/‑share benefit was one‑time, not a recurring earnings cushion.

ELV Revenue by Segment

DatePremiumsProduct RevenueService Fees and Other
Sep 30, 2026$41.70B$6.45B$2.28B
Jun 30, 2026$41.28B$6.26B$2.28B
Mar 31, 2026$41.02B$6.22B$2.25B
Dec 31, 2025$40.69B$6.46B$2.16B
Sep 30, 2025$41.79B$6.16B$2.14B
Jun 30, 2025$41.27B$6.04B$2.11B
Mar 31, 2025$40.89B$5.81B$2.07B
Dec 31, 2024$36.24B$6.71B$2.03B
Sep 30, 2024$36.81B$5.89B$2.02B
Jun 30, 2024$35.42B$5.53B$2.28B
Mar 31, 2024$35.70B$4.50B$2.08B
Dec 31, 2023$35.14B$5.39B$1.92B
Sep 30, 2023$35.26B$5.18B$2.04B
Jun 30, 2023$36.59B$4.86B$1.93B
Mar 31, 2023$35.87B$4.02B$2.01B
Dec 31, 2022$33.65B$4.14B$1.88B
Sep 30, 2022$33.72B$3.97B$1.93B
Jun 30, 2022$33.08B$3.57B$1.84B
Mar 31, 2022$32.78B$3.30B$1.80B
Dec 31, 2021$30.77B$3.52B$1.72B
Sep 30, 2021$30.39B$3.35B$1.80B
Jun 30, 2021$28.53B$3.04B$1.70B
Mar 31, 2021$27.68B$2.74B$1.69B
Dec 31, 2020$27.11B$2.90B$1.53B
Sep 30, 2020$26.39B$2.60B$1.66B
Jun 30, 2020$25.09B$2.54B$1.54B
Mar 31, 2020$25.52B$2.34B$1.59B
Dec 31, 2019$24.04B$1.50B$1.60B
Sep 30, 2019$23.79B$1.12B$1.53B
Jun 30, 2019$23.50B$144.00M$1.53B
Mar 31, 2019$22.84B$0.00$1.54B