Elevance Health (ELV) FY2025 10-K Annual Report

Filed: Feb 6, 2026
Financials
Hospital & Medical Service PlansSEC EDGAR

Elevance Health (ELV) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Feb 6, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.

Elevance Health FY2025 10-K Analysis

Business Overview

  • Core business model: Health benefits and insurance services built significantly through mergers, acquisitions, joint ventures, and strategic alliances
  • Emphasis on risks related to integration and liabilities from recent and future business combinations impacting financials and operations
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Management Discussion & Analysis

  • Revenue details and YoY change not disclosed in provided text
  • Operating gain and margin defined but no actual % figures or changes provided
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Risk Factors

  • Risk adjustment audits by CMS and HHS OIG awaiting finalization, with potential retroactive payment adjustments impacting financial results
  • Concentration in states like California, NY, Texas, exposed to regional economic downturns affecting enrollment and revenues
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Elevance Health FY2025 Key Financial Metrics
XBRL

Revenue

$199.1B

+12.5% YoY

Net Income

$5.7B

-5.3% YoY

Operating Margin

3.6%

-83bp YoY

Net Margin

2.8%

-53bp YoY

ROE

12.9%

-157bp YoY

Total Assets

$121.5B

+3.9% YoY

EPS (Diluted)

$25.21

-1.8% YoY

Operating Cash Flow

$4.3B

-26.1% YoY

Source: XBRL data from Elevance Health FY2025 10-K filing on SEC EDGAR. All figures in USD.

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