What is the 13F Pro Quality Score for ELV?

13F Pro ranks Elevance Health, Inc. (ELV) on the 13F Pro Quality Score, a 0–100 composite of 32 fundamental signals including return on invested capital, free cash flow consistency, balance-sheet strength, earnings quality, growth durability, and valuation discipline. The score refreshes after each 10-K and 10-Q filing on SEC EDGAR. View ELV's current score at https://13fpro.ai/company/ELV (free sign-up required for the full ranking).

Which hedge funds own the most ELV stock?

Based on the most recent Form 13F-HR filings on SEC EDGAR, the largest reported institutional holders of ELV include BlackRock,, VANGUARD CAPITAL MANAGEMENT, STATE STREET. Holdings are reported quarterly within 45 days of quarter-end and updated on https://13fpro.ai/company/ELV as soon as new 13F filings post.

Where does 13F Pro source ELV data?

All Elevance Health, Inc. fundamentals and ownership data come directly from SEC EDGAR. Elevance Health, Inc. files with the SEC under CIK 1156039. 13F Pro ingests XBRL financial facts from 10-K and 10-Q filings, Form 13F-HR institutional holdings, and Form 4 insider transactions, with no third-party rewrites or estimates.

What sector is ELV in?

Elevance Health, Inc. (ELV) is classified in the Healthcare sector. 13F Pro publishes sector-level fund flow analysis and quality leaders at https://13fpro.ai/research/sector/healthcare.

What drives ELV's revenue?

Per Elevance Health, Inc.'s latest 10-Q filed with the SEC on 2026-07-15, the biggest revenue drivers are: Premiums ($41.3B, +0.0% YoY); Product revenue ($6.3B, +3.7% YoY); Service fees ($2.3B, +8.3% YoY). Figures are extracted from the filing text and machine-verified against the document. Full breakdown at https://13fpro.ai/company/ELV.

What are ELV's largest expenses?

Elevance Health, Inc.'s latest 10-Q reports these as the largest expense items: Benefit expense ($37.0B, +0.9% YoY); Cost of products sold ($5.5B, +3.8% YoY); Operating expense ($5.5B, +11.0% YoY). Sourced directly from SEC EDGAR filing text for Q2 FY2026 (quarter ended June 30, 2026).

How often is ELV research updated on 13F Pro?

ELV's fundamentals refresh within hours of each new 10-K or 10-Q filing on SEC EDGAR. Institutional ownership updates after each quarterly 13F filing window. Insider transactions update after each Form 4 filing. The 13F Pro Quality Score recalculates after every fundamentals refresh.

Elevance Health, Inc.(ELV)Stock Analysis

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Healthcare →NYSElarge

Institutional-grade research for retail investors

SEC EDGAR: CIK 1156039 ELV stock profile & AI dashboard →

13F Pro Quality Score

59.0/100

Rank #956 of 2,961 stocksTOP 50%

View Healthcare peers →

Rankings refresh quarterly once 80% of peers have filed (~45 days after quarter-end). Next update: ~Nov 14, 2026.

Revenue Growth

52.8/100

Profitability

38.1/100

Balance Sheet

61.3/100

Earnings Quality

80.9/100

Free Cash Flow

36.0/100

Institutional Flow

62.2/100

Revenue Scale

99.3/100

Dilution Risk

87.0/100

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Why ELV Scores 59/100

exact factor attribution · 2026-09-11

ELV's composite is driven by scale and earnings quality, held back by free cash flow and earnings growth. Bars show each factor's exact push vs. a median company, using the same weights the ranking engine applies.

Scale

+7.4 pts

99th pct

Earnings quality

+3.1 pts

81th pct

Shareholder dilution

+1.9 pts

87th pct

Capital efficiency

+1.1 pts

61th pct

Institutional flow

+0.6 pts

62th pct

Revenue growth

+0.6 pts

53th pct

Profitability

-1.8 pts

38th pct

Earnings growth

-1.8 pts

14th pct

Free cash flow

-2.1 pts

36th pct

Factor percentiles are cross-sectional ranks across the ~2,800-stock scored universe, computed from SEC EDGAR filings. Not investment advice.

Unusual Activity in ELV

Events flagged as statistical outliers against ELV's own multi-year baseline — not fixed dollar thresholds.

Insider cluster2026-07-17
2 insiders bought $1,368,280 of ELV in 30 days — 3.9σ above this company's 2-year norm
View source filing →

ELV Stock Analysis & AI Quality Score

Data updated 2026-09-11

AI stock analysis and institutional research for Elevance Health, Inc. (ELV), a Healthcare sector company. 13F Pro's AI-powered ranking engine scores ELV at 59.0/100 on a 32-signal composite quality model, placing it at rank #956 of 2,961 stocks — the top half of the AI-ranked universe. ELV scores in the top quartile across revenue scale (99.3), earnings quality (80.9). Areas of concern include free cash flow (36.0) and profitability (38.1), which score below median versus the broader universe. Based on the latest XBRL financial filings (Q2 2026), Elevance Health, Inc. reports quarterly revenue of $50.5B, net income of $1.5B, an operating margin of 3.5%. Top institutional holders of ELV by reported 13-F value include BlackRock, VANGUARD CAPITAL MANAGEMENT, STATE STREET, based on the most recent SEC filings. ELV trades on the NYSE exchange and files with the SEC under CIK 1156039. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate ELV daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for Elevance Health, Inc. directly from SEC EDGAR. Elevance Health, Inc.'s 13F Pro composite quality score has ranged between 58 and 66 since 2022, currently 59.0 — a stable long-term trajectory across 64 quarterly and live scoring snapshots.

What's Driving ELV's Business? Latest 10-Q Breakdown

✓ 17/17 datapoints verified

AI-extracted from Elevance Health, Inc.'s 10-Q filed 2026-07-15 — Q2 FY2026 (quarter ended June 30, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.

Q2 revenue of $50.5B flat YoY; net income fell 16.6% to $1.45B on higher medical costs and $935M Medicare risk adjustment accrual.

Biggest Revenue Drivers

Premiums$41.3B+0.0% YoY

Premium rate increases in recognition of medical cost trends, offset by membership attrition

Product revenue$6.3B+3.7% YoY

CarelonRx pharmacy services to unaffiliated customers; higher cost per prescription from pricing and product mix

Biggest Revenue Drivers

Total revenue: $50.5B+1.4% YoY

Premiums$41.3B+0.0% YoY

Premium rate increases in recognition of medical cost trends, offset by membership attrition

Product revenue$6.3B+3.7% YoY

CarelonRx pharmacy services to unaffiliated customers; higher cost per prescription from pricing and product mix

Service fees$2.3B+8.3% YoY

Administrative fees from self-funded groups and government program administration

Largest Expense Items

Benefit expense$37.0B+0.9% YoY

Higher medical costs across most lines of business; elevated Medicaid and Medicare trends offset by Individual ACA improvement

Cost of products sold$5.5B+3.8% YoY

Higher cost per prescription reflecting pricing impacts and product mix, despite lower adjusted prescription volumes

Operating expense$5.5B+11.0% YoY

Targeted workforce and technology investments; regulatory expenses; premium tax assessments; transformation program costs

Margins: Benefit expense ratio deteriorated 80 bps to 89.7% on elevated Medicaid and Medicare medical cost trends. Operating expense ratio widened 100 bps to 11.1% from workforce investments, regulatory matters and transformation program; partially offset by improved Individual ACA performance.

Watch Items from the Filing

$935M accrual for Medicare Advantage risk adjustment data resubmission (resolved July 13, 2026); company estimates contingency liability could range $320M below to $320M above accrued amount.
Medical membership declined 1.5% YoY to 44.9M; Medicaid down 4.3%, Medicare Advantage down 15.9%, FEP down 5.4%, partially offset by Employer Group Fee-Based up 1.7%.
Medicaid and Medicare benefit expense ratios elevated due to higher population acuity and utilization post-redetermination; company implementing program improvements and care management strengthening.
Operating gain fell 27.3% to $1.76B on higher medical costs; Health Benefits operating margin compressed 170 bps to 2.1% despite 2.7% revenue growth.
Two main BCBSA antitrust opt-out cases remain pending (Alaska Air, JetBlue; VHS in California); company believes cases without merit; ultimate outcome cannot be determined.

AI-extracted and verified against SEC EDGAR filing text. Not investment advice.

Read the full 10-Q on SEC EDGAR →Share on X

Revenue

Q2 2026

$50.5B

Net Income

Q2 2026

$1.5B

Free Cash Flow

Q2 2026

$1.6B

Operating Margin

Q2 2026

3.5%

ROIC

Q2 2026

9.2%

D/E Ratio

Q2 2026

0.70

Period

Revenue & Net Income

Earnings Per Share

Key Financials Over Time

Export Financial Table · Pro

Revenue

+12.5% YoY

$199.13BFY 2025

FY22 $156.59BFY23 $171.34BFY24 $177.01BFY25 $199.13B

Net Income

-5.3% YoY

$5.66BFY 2025

FY22 $5.89BFY23 $5.99BFY24 $5.98BFY25 $5.66B

Operating Income

-8.4% YoY

$7.20BFY 2025

FY22 $8.28BFY23 $8.50BFY24 $7.86BFY25 $7.20B

EPS (Diluted)

-1.8% YoY

$25.21FY 2025

FY22 $24.28FY23 $25.22FY24 $25.68FY25 $25.21

Total Assets

+3.9% YoY

$121.49BFY 2025

FY22 $102.75BFY23 $108.93BFY24 $116.89BFY25 $121.49B

Total Debt

+0.8% YoY

$33.15BFY 2025

FY22 $25.61BFY23 $26.77BFY24 $32.88BFY25 $33.15B

Op. Cash Flow

-26.1% YoY

$4.29BFY 2025

FY22 $8.40BFY23 $8.06BFY24 $5.81BFY25 $4.29B

Free Cash Flow

-30.3% YoY

$3.17BFY 2025

FY22 $7.25BFY23 $6.76BFY24 $4.55BFY25 $3.17B

Metric	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Revenue	$199.13B +12.5%	$177.01B +3.3%	$171.34B +9.4%	$156.59B +13.0%	$138.64B +13.8%	$121.87B
Net Income	$5.66B -5.3%	$5.98B -0.1%	$5.99B +1.6%	$5.89B -4.3%	$6.16B +34.7%	$4.57B
Operating Income	$7.20B -8.4%	$7.86B -7.5%	$8.50B +2.6%	$8.28B +9.6%	$7.56B +18.9%	$6.36B
EPS (Diluted)	$25.21 -1.8%	$25.68 +1.8%	$25.22 +3.9%	$24.28 -2.7%	$24.95 +38.8%	$17.98
Total Assets	$121.49B +3.9%	$116.89B +7.3%	$108.93B +6.0%	$102.75B +5.4%	$97.46B +12.5%	$86.61B
Total Debt	$33.15B +0.8%	$32.88B +22.8%	$26.77B +4.5%	$25.61B +4.0%	$24.63B +18.8%	$20.73B
Operating Cash Flow	$4.29B -26.1%	$5.81B -27.9%	$8.06B -4.0%	$8.40B +0.4%	$8.36B -21.7%	$10.69B
Free Cash Flow	$3.17B -30.3%	$4.55B -32.7%	$6.76B -6.7%	$7.25B -0.4%	$7.28B -24.7%	$9.67B

AI Insight: ELV Financial Trends

Revenue volatility and operating cash flow collapse in Q4 2025 signal operational stress despite modest Q2 2026 recovery.

• Revenue swung from $49.7B (Q2 2025) to $41.8B (Q3 2025), then recovered to $49.7B (Q4 2025), before declining again to $41.3B (Q2 2026).

• Operating cash flow collapsed to $84M in Q4 2025 from $2.1B in Q2 2025, though rebounded to $4.3B in Q1 2026.

• Operating margin deteriorated from 4.9% (Q1 2026) to 4.3% (Q2 2026); Q4 2025 saw margin contract to 0.6%.

⚠ Debt increased from $27.1B (Q3 2024) to $33.1B (Q4 2025); leverage ratio elevated despite stable equity base of ~$44B.

⚠ Net income volatility persists—Q4 2025 fell to $547M from $1.7B in Q2 2025; pattern suggests underlying margin pressure.

AI Insight: ELV Ratio Trends

Elevance recovered from a severe Q4 2025 collapse, but profitability remains well below 2025 peak levels and ROIC has halved.

• Operating margin rebounded to 4.3% in Q2 2026 from 0.6% in Q4 2025, signaling operational stabilization post-crisis.

• ROIC remains depressed at 9.2% in Q2 2026 versus 17.5% in Q1 2025 peak; structural profitability challenge persists.

• Leverage drifted higher to 0.76 D/E in Q4 2025 before moderating to 0.70 in Q2 2026; balance sheet stabilizing.

⚠ Q4 sequential weakness pattern repeating: OpMargin, NPM, ROE all collapsed in Q4 2024 and Q4 2025. Investigate seasonality.

⚠ ROE down to 13.0% in Q2 2026 from 20.5% in Q1 2025; shareholder returns under pressure despite recent stabilization.

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Available Research

13F Pro tracks comprehensive data for Elevance Health, Inc. including:

SEC EDGAR filings (10-K, 10-Q, 8-K)

XBRL financial facts (revenue, EPS, margins)

Insider transactions (Form 4)

Institutional 13F holdings

Quality rankings (32 signals)

AI analyst debates & daily meetings

Historical financial trends

Peer comparison & sector analysis

Top Institutional Holders of ELV

BlackRock, Inc.
$7.3B18,991,090 sh
VANGUARD CAPITAL MANAGEMENT LLC
$5.4B14,058,204 sh
STATE STREET CORP
$4.0B10,426,610 sh
WELLINGTON MANAGEMENT GROUP LLP
$3.6B9,213,513 sh
VANGUARD PORTFOLIO MANAGEMENT LLC
$2.4B6,214,356 sh
Sanders Capital, LLC
$2.3B5,825,024 sh
GEODE CAPITAL MANAGEMENT, LLC
$2.0B5,166,124 sh
HARRIS ASSOCIATES L P
$1.9B4,924,511 sh
Artisan Partners Limited Partnership
$1.8B4,581,222 sh
Invesco Ltd.
$1.6B4,234,231 sh

Fund	Value	Shares
BlackRock, Inc.	$7.3B	18,991,090
VANGUARD CAPITAL MANAGEMENT LLC	$5.4B	14,058,204
STATE STREET CORP	$4.0B	10,426,610
WELLINGTON MANAGEMENT GROUP LLP	$3.6B	9,213,513
VANGUARD PORTFOLIO MANAGEMENT LLC	$2.4B	6,214,356
Sanders Capital, LLC	$2.3B	5,825,024
GEODE CAPITAL MANAGEMENT, LLC	$2.0B	5,166,124
HARRIS ASSOCIATES L P	$1.9B	4,924,511
Artisan Partners Limited Partnership	$1.8B	4,581,222
Invesco Ltd.	$1.6B	4,234,231

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Is ELV a good stock to buy?

13F Pro's AI-powered analysis of Elevance Health, Inc. (ELV) draws on SEC EDGAR-sourced fundamentals, institutional 13F holdings, and insider Form 4 transactions in the Healthcare sector (listed on NYSE). The 32-signal AI Quality Score, current rank, and full bull/bear verdict for ELV are available on the ELV stock profile dashboard — with the same data, AI insights, ratios, and institutional activity refreshed after every 10-K, 10-Q, 13F, and Form 4 filing. ELV is classified as a large company.

Which hedge funds own ELV?

Institutional investors are required to disclose their holdings quarterly via SEC Form 13F. 13F Pro aggregates these filings to show which hedge funds, mutual funds, and asset managers are buying or selling ELV. Combined with insider transaction data from Form 4 filings and AI-powered analysis from 10 specialized research agents, 13F Pro provides a comprehensive view of Elevance Health, Inc.'s investment landscape.