Question 1

What is Elevance Health's P/E ratio?

Accepted Answer

Elevance Health (ELV) P/E ratio is 17.5× as of June 5, 2026. The ratio is calculated by dividing market capitalisation by trailing twelve-month earnings (net income), using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/E ratio calculated?

Accepted Answer

P/E = Share Price ÷ Trailing Twelve-Month (TTM) Diluted EPS, or equivalently Market Capitalisation ÷ TTM Net Income. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/E ratio?

Accepted Answer

The price-to-earnings (P/E) ratio, also called the earnings multiple, measures how much investors pay per dollar of a company's trailing twelve-month (TTM) earnings. It is calculated as share price ÷ TTM diluted EPS (equivalent to market capitalisation ÷ TTM net income). A higher P/E implies the market is pricing in stronger future earnings growth or lower risk; a lower P/E can signal slower expected growth, higher risk, or potential undervaluation.

Question 4

What is a good P/E ratio for Elevance Health?

Accepted Answer

There is no universal "good" P/E. As a rule of thumb, the S&P 500 has historically averaged a P/E in the mid-to-high teens; mature, slow-growth businesses commonly trade in the 10–18× range, while high-growth or asset-light companies often trade at 25–50×+. What matters is the comparison to sector peers and to the company's own historical range. For Elevance Health specifically, the relevant sector benchmark is the current sector median of 25.0×.

Question 5

Is Elevance Health's P/E ratio high or low?

Accepted Answer

Elevance Health's P/E ratio of 17.5× is above its own 5-year average of 17.3× and below the sector median of 25.0×. That places the current reading at the 38th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is Elevance Health's historical P/E ratio range?

Accepted Answer

In the available daily series, Elevance Health (ELV) P/E ratio has ranged from a low of 4.3× in 2010 to a high of 36.7× in 2004. The 5-year average is 17.3× and the 5-year median is 17.8×.

Question 7

What was Elevance Health's P/E ratio in 2025?

Accepted Answer

Elevance Health (ELV) P/E ratio at the end of 2025 was 13.7×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month earnings figure available at that date.

Question 8

Why does Elevance Health's P/E ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (earnings). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$77.75B	$5.66B	13.7×	-0.3×	Dec 31, 2025
2024	$83.92B	$5.98B	14.0×	-4.3×	Dec 31, 2024
2023	$109.91B	$5.99B	18.4×	-2.4×	Dec 31, 2023
2022	$122.07B	$5.89B	20.7×	+2.3×	Dec 31, 2022
2021	$112.07B	$6.10B	18.4×	+1.1×	Dec 31, 2021
2020	$78.80B	$4.57B	17.2×	+1.3×	Dec 31, 2020
2019	$76.39B	$4.81B	15.9×	-2.1×	Dec 31, 2019
2018	$67.59B	$3.75B	18.0×	+3.0×	Dec 31, 2018
2017	$57.62B	$3.84B	15.0×	-0.4×	Dec 31, 2017
2016	$37.92B	$2.47B	15.4×	+1.1×	Dec 31, 2016
2015	$36.43B	$2.56B	14.2×	+1.2×	Dec 31, 2015
2014	$33.50B	$2.57B	13.0×	+2.6×	Dec 31, 2014
2013	$26.05B	$2.49B	10.5×	+3.5×	Dec 31, 2013
2012	$18.47B	$2.66B	7.0×	-1.3×	Dec 31, 2012
2011	$21.98B	$2.65B	8.3×	+1.0×	Dec 31, 2011
2010	$20.96B	$2.89B	7.3×	+1.8×	Dec 31, 2010
2009	$25.71B	$4.75B	5.4×	-3.0×	Dec 31, 2009
2008	$20.90B	$2.49B	8.4×	-5.9×	Dec 31, 2008
2007	$47.77B	$3.35B	14.3×	-1.3×	Dec 31, 2007
2006	$48.14B	$3.09B	15.6×	-5.6×	Dec 31, 2006
2005	$52.13B	$2.46B	21.2×	-15.5×	Dec 31, 2005
2004	$35.22B	$960.10M	36.7×	+23.3×	Dec 31, 2004
2003	$10.36B	$774.30M	13.4×	-2.5×	Dec 31, 2003
2002	$8.74B	$549.10M	15.9×	—	Dec 31, 2002


Agilent Technologies (A)	23.1×
Medtronic (MDT)	22.2×
McKesson (MCK)	22.2×
Illumina (ILMN)	21.7×
ResMed (RMD)	21.6×
GE HealthCare (GEHC)	21.6×
Pfizer (PFE)	21.1×
Quest Diagnostics (DGX)	21.1×
Henry Schein (HSIC)	21.0×
AptarGroup (ATR)	20.9×
IQVIA (IQV)	20.7×
UnitedHealth Group (UNH)	20.4×
Biogen (BIIB)	19.7×
Zoetis (ZTS)	18.9×
Gilead Sciences (GILD)	18.8×
Humana (HUM)	18.5×
Regeneron Pharmaceuticals (REGN)	18.2×
Bristol-Myers Squibb (BMY)	17.0×
HCA Healthcare (HCA)	15.8×
DaVita (DVA)	13.3×
Incyte (INCY)	13.1×
Cigna (CI)	11.1×
Novo Nordisk (NVO)	8.6×
Solventum (SOLV)	7.9×
Universal Health Services (UHS)	7.2×

P/E Ratio for Elevance Health (ELV)

P/E Ratio daily chart for Elevance Health (ELV)

Historical P/E Ratio for Elevance Health (ELV) from 2002 to 2025

About P/E Ratio at Elevance Health (ELV)

Elevance Health P/E Ratio by Year

Elevance Health P/E Ratio 2025: 13.7×

Elevance Health P/E Ratio 2024: 14.0×

Elevance Health P/E Ratio 2023: 18.4×

Elevance Health P/E Ratio 2022: 20.7×

Elevance Health P/E Ratio 2021: 18.4×

Sector peers by P/E Ratio — chart

Sector peers by P/E Ratio — table

Frequently asked questions

Elevance Health (ELV) Key Financials

P/E Ratio daily chart for Elevance Health (ELV)

Historical P/E Ratio for Elevance Health (ELV) from 2002 to 2025

About P/E Ratio at Elevance Health (ELV)

Elevance Health P/E Ratio by Year

Elevance Health P/E Ratio 2025: 13.7×

Elevance Health P/E Ratio 2024: 14.0×

Elevance Health P/E Ratio 2023: 18.4×

Elevance Health P/E Ratio 2022: 20.7×

Elevance Health P/E Ratio 2021: 18.4×

Sector peers by P/E Ratio — chart

Sector peers by P/E Ratio — table

Frequently asked questions

+What is Elevance Health's P/E ratio?

+How is the P/E ratio calculated?

+What is the P/E ratio?

+What is a good P/E ratio for Elevance Health?

+Is Elevance Health's P/E ratio high or low?

+What is Elevance Health's historical P/E ratio range?

+What was Elevance Health's P/E ratio in 2025?

+Why does Elevance Health's P/E ratio change over time?

Elevance Health (ELV) Key Financials