Elevance Health (ELV) Stock Buyback History
TTM buyback yield 4.41% · Shareholder yield (TTM) 4.41%.
TTM buyback yield
4.41%
Shareholder yield (TTM)
4.41%
5Y share count change
-12.8%
TTM buyback spend
$2.85B
SBC coverage (TTM)
11.40x
YoY change in spend
-10.2%
5Y CAGR of spend
-0.7%
Peak year (2007)
$6.15B
Cumulative spend
$54.08B
TTM metrics calculated from the four most recent reported quarters, ending (reported ).
Key takeaways
- Elevance Health (ELV) repurchased about $2.85B of stock over the trailing twelve months.
- Diluted share count is down 12.8% over the last ~5 fiscal years — buybacks are net-shrinking the share base.
- TTM buyback ÷ stock-based-comp ratio of 11.40× — repurchases more than cover SBC dilution.
- Cash buyback spend has compounded at -0.7% per year over the latest 5-year window.
- TTM repurchases used about 58% of free cash flow remaining after dividends.
Buyback context per fiscal year
Annual repurchases alongside stock-based compensation, diluted share count and the year-over-year change — useful for SBC-coverage and dilution-offset reading at a glance.
| Year | Buybacks | SBC | Net | Shares (dil.) | YoY shares | Buyback yield |
|---|---|---|---|---|---|---|
| 2025 | $2.60B | $276.00M | $2.33B | 0.22B | -4.8% | 3.35% |
| 2024 | $2.90B | $191.00M | $2.71B | 0.23B | -1.9% | 3.46% |
| 2023 | $2.68B | $289.00M | $2.39B | 0.24B | -2.2% | 2.43% |
| 2022 | $2.32B | $264.00M | $2.05B | 0.24B | -1.6% | 1.90% |
| 2021 | $1.90B | $255.00M | $1.65B | 0.25B | -2.9% | 1.70% |
| 2020 | $2.70B | $283.00M | $2.42B | 0.25B | -2.3% | 3.43% |
| 2019 | $1.70B | $294.00M | $1.41B | 0.26B | 2.4% | 2.23% |
| 2018 | $1.69B | $226.00M | $1.46B | 0.25B | -5.0% | 2.49% |
| 2017 | $2.00B | $169.60M | $1.83B | 0.27B | -0.1% | 3.47% |
| 2016 | $67.00M | $164.60M | −$97.60M | 0.27B | -1.8% | 0.18% |
| 2015 | $1.52B | $148.20M | $1.37B | 0.27B | -4.5% | 4.16% |
| 2014 | $3.00B | $168.90M | $2.83B | 0.29B | -5.9% | 8.95% |
| 2013 | $1.62B | $146.00M | $1.47B | 0.30B | -6.5% | 6.22% |
| 2012 | $2.50B | $146.50M | $2.35B | 0.32B | -11.0% | 13.52% |
| 2011 | $3.04B | $134.80M | $2.90B | 0.37B | -12.2% | 13.83% |
| 2010 | $4.36B | $136.00M | $4.22B | 0.42B | -13.9% | 20.80% |
| 2009 | $2.64B | $153.60M | $2.48B | 0.48B | -7.8% | 10.26% |
| 2008 | $3.28B | $156.00M | $3.12B | 0.52B | -12.9% | 15.68% |
| 2007 | $6.15B | $177.10M | $5.97B | 0.60B | -6.2% | 12.88% |
| 2006 | $4.55B | $246.90M | $4.30B | 0.64B | 2.7% | 9.45% |
| 2005 | $333.40M | $0.00 | $333.40M | 0.63B | 118.9% | 0.64% |
| 2004 | $82.20M | $0.00 | $82.20M | 0.29B | 0.7% | 0.23% |
| 2003 | $217.20M | $0.00 | $217.20M | 0.28B | 16.7% | 2.10% |
| 2002 | $256.20M | $0.00 | $256.20M | 0.24B | 17.2% | 2.93% |
| 2001 | $0.00 | $0.00 | $0.00 | 0.21B | — | — |
Cash buyback spend (USD) — annual & quarterly history
Trailing-twelve-month and per-period cash repurchases for Elevance Health (ELV) from the consolidated cash flow statement (line: common stock repurchased), in USD as filed.
Cash buyback spend over time for Elevance Health (ELV)
Per-period cash repurchases
Cash buyback spend annual + quarterly history for Elevance Health (ELV)
| Fiscal year | Period ended | Reported | Buyback Spend | YoY | YoY change |
|---|---|---|---|---|---|
| 2025 | $2.60B | -10.2% | -$295.00M | ||
| 2024 | $2.90B | +8.4% | +$224.00M | ||
| 2023 | $2.68B | +15.5% | +$360.00M | ||
| 2022 | $2.32B | +21.9% | +$416.00M | ||
| 2021 | $1.90B | -29.6% | -$800.00M | ||
| 2020 | $2.70B | +58.7% | +$999.00M | ||
| 2019 | $1.70B | +0.9% | +$16.00M | ||
| 2018 | $1.69B | -15.7% | -$312.70M | ||
| 2017 | $2.00B | +2881.6% | +$1.93B | ||
| 2016 | $67.00M | -95.6% | -$1.45B | ||
| 2015 | $1.52B | -49.5% | -$1.48B | ||
| 2014 | $3.00B | +85.1% | +$1.38B | ||
| 2013 | $1.62B | -35.1% | -$876.70M | ||
| 2012 | $2.50B | -17.9% | -$543.00M | ||
| 2011 | $3.04B | -30.3% | -$1.32B | ||
| 2010 | $4.36B | +65.3% | +$1.72B | ||
| 2009 | $2.64B | -19.5% | -$637.80M | ||
| 2008 | $3.28B | -46.7% | -$2.88B | ||
| 2007 | $6.15B | +35.2% | +$1.60B | ||
| 2006 | $4.55B | +1264.8% | +$4.22B | ||
| 2005 | $333.40M | +305.6% | +$251.20M | ||
| 2004 | $82.20M | -62.2% | -$135.00M | ||
| 2003 | $217.20M | -15.2% | -$39.00M | ||
| 2002 | $256.20M | — | +$256.20M | ||
| 2001 | $0 | — | — |
2025's annual buyback spend for Elevance Health (ELV) came in at $2.60B – declined 10.2% year-over-year.
Elevance Health buyback spend has contracted on net over the period, with a -0.7% compound annual growth rate over 2020–2025 (5 years).
Elevance Health buyback spend peaked at $6.15B in 2007; the latest annual figure is $2.60B in 2025 (57.7% below peak).
The highest annual buyback spend of $6.15B was reported in 2007. The lowest in the available history was $0 in 2001.
Elevance Health (ELV) sits 5th of 8 Healthcare peers we track on this metric, against a peer median of $2.75B.
Elevance Health Buyback Spend 2025: $2.60B
Elevance Health buyback spend in 2025 was $2.60B, declined 10.2% below 2024.
Elevance Health Buyback Spend 2024: $2.90B
Elevance Health buyback spend in 2024 was $2.90B, grew 8.4% from 2023.
Elevance Health Buyback Spend 2023: $2.68B
Elevance Health buyback spend in 2023 was $2.68B, grew 15.5% from 2022.
Elevance Health Buyback Spend 2022: $2.32B
Elevance Health buyback spend in 2022 was $2.32B, grew 21.9% from 2021.
Elevance Health Buyback Spend 2021: $1.90B
Elevance Health buyback spend in 2021 was $1.90B.
See more financial history for Elevance Health (ELV).
Sector peers by buyback spend
Companies in the same sector as Elevance Health, ranked by their latest buyback spend.
| Company | Buyback Spend | Sector |
|---|---|---|
| Johnson & Johnson (JNJ) | $5.95B | Healthcare |
| UnitedHealth Group (UNH) | $5.54B | Healthcare |
| Merck & Co. (MRK) | $5.08B | Healthcare |
| Eli Lilly (LLY) | $4.11B | Healthcare |
| Novo Nordisk (NVO) | $1.39B | Healthcare |
| AbbVie (ABBV) | $980.00M | Healthcare |
| AstraZeneca (AZN) | $719.66M | Healthcare |
| Amgen (AMGN) | $0 | Healthcare |
Share count history
Diluted weighted-average shares drive the EPS denominator and per-share capital-return maths. A falling diluted share count means buybacks are outpacing dilution from stock-based compensation and option exercises.
Diluted vs basic shares (annual)
Year-over-year change in diluted shares
Green is fewer shares vs the prior fiscal year (net repurchase); red is growth (dilution). The earliest year shown has no prior year to compare.
Dividend & buyback yield over time
Stacked annual yields — buyback yield (TTM cash repurchases ÷ market cap) plus dividend yield from the same fiscal-year-end key-metrics period — show how total cash return per dollar of equity has evolved.
Buybacks vs stock-based compensation
Annual cash repurchases set against stock-based compensation. Coverage above 1× means buybacks fully offset the equity dilution from SBC. TTM coverage: 11.40×.
Capital allocation mix
How Elevance Health splits cash returned to shareholders between dividends and buybacks, plus the headroom on free cash flow that's still available for additional repurchases.
Buybacks vs dividends (share of cash returned)
Buyback capacity (TTM)
Free cash flow minus dividends paid versus actual TTM repurchases — the headroom bar shows how much of post-dividend FCF is still being deployed elsewhere.
Headroom $4.93B (TTM FCF − TTM dividends, clamped at zero).
Data & methodology
Where do buyback, dividend and compensation figures come from?
Cash buyback spend (common stock repurchased), dividends paid and stock-based compensation come from Elevance Health's consolidated cash flow statements — quarterly 10-Q and annual 10-K SEC filings, in USD as reported.
How are diluted shares and yields calculated?
Diluted weighted-average share counts come from the income statement (EPS denominator). Trailing twelve-month (TTM) aggregates sum the four most recent reported quarters. Buyback and dividend yields divide TTM cash flows by market capitalisation at the latest quarter-end.
How is buyback capacity defined?
Capacity compares TTM repurchases to free cash flow after dividends: operating cash flow minus capital expenditure, minus dividends paid, versus actual buybacks over the same trailing window.
Is this investment advice?
No. Figures are for informational and educational use only. Past buybacks and dividends do not predict future returns.
Frequently asked questions
Does Elevance Health buy back its own stock?
Yes, Elevance Health (ELV) has repurchased shares in recent periods. See the history table and charts on this page for amounts and trends.
How much does Elevance Health spend on share buybacks?
Trailing twelve months (TTM) buyback spend is about $2.85B (sum of the last four quarterly cash-flow periods in our data). Figures are illustrative; verify in filings.
What is Elevance Health's buyback yield?
TTM buyback yield is about 4.41% (TTM buyback spend divided by market cap at the latest quarter-end in our data).
What is Elevance Health's shareholder yield?
Shareholder yield combines dividend yield and buyback yield. For the latest period we show approximately 4.41% combined (TTM-based where available).
Is Elevance Health diluting shareholders?
Compare stock-based compensation (SBC) to buybacks in the chart above. Net effect varies by year; see annual buyback vs SBC bars and the history table.
How has Elevance Health's share count changed?
Diluted weighted average shares changed by about -12.8% over roughly five fiscal years (annual income statement data).
What is Elevance Health's buyback spend?
Latest reported buyback spend for Elevance Health (ELV) is $2.85B (period ending March 31, 2026).
How has Elevance Health buyback spend changed year-over-year?
Elevance Health (ELV) buyback spend changed -10.2% year-over-year on the latest annual filing.
What is the long-term growth rate of Elevance Health buyback spend?
Elevance Health (ELV) buyback spend compound annual growth rate is -0.7% over the most recent 5 years available.
When did Elevance Health buyback spend hit its highest annual value?
Elevance Health buyback spend reached its highest annual value of $6.15B in 2007.
What was Elevance Health buyback spend in 2024?
Elevance Health (ELV) buyback spend in 2024 was $2.90B.
What was Elevance Health buyback spend in 2025?
Elevance Health (ELV) buyback spend in 2025 was $2.60B.
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