TTM
3.8%
YoY change
−0.95pp
Trough year (1998)
0.0%
Peak year (2007)
9.7%
Latest annual
4.1%
Operating Margin history chart for Elevance Health (ELV) from 1998 to 2025
Latest: 4.1%
Operating Margin change chart for Elevance Health (ELV) from 1998 to 2025
Latest: −0.95pp
Operating Margin history table for Elevance Health (ELV) from 1998 to 2025
| 2025 | 4.1% | -0.95pp | ||
| 2024 | 5.0% | -0.08pp | ||
| 2023 | 5.1% | -0.29pp | ||
| 2022 | 5.4% | -1.06pp | ||
| 2021 | 6.5% | +0.13pp | ||
| 2020 | 6.3% | -0.13pp | ||
| 2019 | 6.5% | +0.12pp | ||
| 2018 | 6.3% | +0.80pp | ||
| 2017 | 5.5% | -0.84pp | ||
| 2016 | 6.4% | -0.38pp | ||
| 2015 | 6.8% | -0.14pp | ||
| 2014 | 6.9% | +0.31pp | ||
| 2013 | 6.6% | -0.57pp | ||
| 2012 | 7.2% | -0.21pp | ||
| 2011 | 7.4% | -0.84pp | ||
| 2010 | 8.2% | +0.20pp | ||
| 2009 | 8.0% | +0.08pp | ||
| 2008 | 7.9% | -1.76pp | ||
| 2007 | 9.7% | +0.29pp | ||
| 2006 | 9.4% | +0.26pp | ||
| 2005 | 9.2% | +0.53pp | ||
| 2004 | 8.6% | +1.46pp | ||
| 2003 | 7.2% | +1.04pp | ||
| 2002 | 6.1% | +1.09pp | ||
| 2001 | 5.0% | +5.02pp | ||
| 2000 | 0.0% | 0.00pp | ||
| 1999 | 0.0% | 0.00pp | ||
| 1998 | 0.0% | — |
- 20254.1%-0.95pp
- 20245.0%-0.08pp
- 20235.1%-0.29pp
- 20225.4%-1.06pp
- 20216.5%+0.13pp
- 20206.3%-0.13pp
- 20196.5%+0.12pp
- 20186.3%+0.80pp
- 20175.5%-0.84pp
- 20166.4%-0.38pp
- 20156.8%-0.14pp
- 20146.9%+0.31pp
- 20136.6%-0.57pp
- 20127.2%-0.21pp
- 20117.4%-0.84pp
- 20108.2%+0.20pp
- 20098.0%+0.08pp
- 20087.9%-1.76pp
- 20079.7%+0.29pp
- 20069.4%+0.26pp
- 20059.2%+0.53pp
- 20048.6%+1.46pp
- 20037.2%+1.04pp
- 20026.1%+1.09pp
- 20015.0%+5.02pp
- 20000.0%0.00pp
- 19990.0%0.00pp
- 19980.0%—
Operating Margin values are taken from Elevance Health's reported income statements (quarterly 10-Q and annual 10-K filings with the U.S. Securities and Exchange Commission). Each row shows the period end date and the filing date. YoY compares each figure to the same period one year earlier. Amounts are in USD as filed.
About Operating Margin at Elevance Health (ELV)
According to Elevance Health's latest reported financial statements, the company's latest reported operating margin is 3.8%. Operating margin is operating income divided by revenue — the share of each sales dollar left after cost of goods sold and operating expenses (SG&A, R&D), but before interest and taxes. It isolates how profitable the core business is before financing and tax decisions, so it is comparable across companies with different capital structures.
Headline figure above is from the reporting period ending (reported ). Chart and table below cover the full reported history back to .
2025's annual operating margin for Elevance Health (ELV) came in at 4.07% – contracted 1.0 percentage points year-over-year.
The record annual operating margin stands at 9.70%, reached in 2007; the historical low of 0.00% was recorded in 1998.
Elevance Health Operating Margin by Year
Elevance Health Operating Margin 2025: 4.1%
Elevance Health operating margin in 2025 was 4.07%, contracted 1.0 percentage points from 2024.
Elevance Health Operating Margin 2024: 5.0%
2024's operating margin for Elevance Health came in at 5.03%, contracted 0.1 percentage points from 2023.
Elevance Health Operating Margin 2023: 5.1%
Elevance Health posted operating margin of 5.10% in 2023, contracted 0.3 percentage points from 2022.
Elevance Health Operating Margin 2022: 5.4%
In 2022, Elevance Health reported operating margin of 5.40%, contracted 1.1 percentage points from 2021.
Elevance Health Operating Margin 2021: 6.5%
Elevance Health operating margin in 2021 was 6.45%.
See more financial history for Elevance Health (ELV).
Sector peers by Operating Margin
Healthcare peers of Elevance Health (ELV), ranked by their latest operating margin
| 45.9% | |
| 45.3% | |
| 31.6% | |
| 27.6% | |
| 27.6% | |
| 26.4% | |
| 23.7% | |
| 4.2% |
- 45.9%
- 45.3%
- 31.6%
- 27.6%
- 27.6%
- 23.7%
Frequently asked questions
Elevance Health (ELV) Key Financials
Charts, filings, and peer comparison for every metric
Explore more
Deep-dives across the income statement, cash flow, capital return, and valuation