Elevance Health, Inc.
ELVNYSEHospital & Medical Service PlansFiscal year ends December 31
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Oct 21, 2026Score 15/3014% below fair value
$413.60−6.47 (-1.54%)
Close on Nov 2, 2026Market cap $89.70BP/E 18.4Yield –
Elevance Health GAAP Operating Expense Ratio by Year
GAAP Operating Expense Ratio (% of Operating Revenue) (%)
Elevance Health GAAP Operating Expense Ratio: 10.6% in FY2025, down 0.8 pts from a year earlier. That is the lowest of the 9 years on record here.
Latest, FY2025
10.6%
Period ended Dec 31, 2025
Change on a year earlier
-0.8 pts
11.4% in FY2024
History
9 years
Since FY2017
Sources
8
Documents cited below
Where the FY2025 figure comes from
“|| Operating expense ratio | 11.0 | % | 10.7 | % | 30 bp | 10.6 | % | 11.4 | % | (80) bp”
Source: 8-K ER (FY2025Q4, 2026-01-28) ↗
Annual history
Hover a value to see the sentence it was read from; calculated values show their formula
| Period | Ended | GAAP Operating Expense Ratio (% of Operating Revenue) (%) | Year on year | Source |
|---|---|---|---|---|
| FY2025 | Dec 31, 2025 | 10.6% | -0.8 pts | 8-K ER (FY2025Q4, 2026-01-28) ↗ |
| FY2024 | Dec 31, 2024 | 11.4% | -0.4 pts | 8-K ER (FY2025Q4, 2026-01-28) ↗ |
| FY2023 | Dec 31, 2023 | 11.8% | 0.0 pts | 8-K ER (FY2024Q4, 2025-01-23) ↗ |
| FY2022 | Dec 31, 2022 | 11.8% | +0.2 pts | 8-K ER (FY2023Q4, 2024-01-24) ↗ |
| FY2021 | Dec 31, 2021 | 11.6% | -2.8 pts | 8-K ER (FY2022Q4, 2023-01-25) ↗ |
| FY2020 | Dec 31, 2020 | 14.4% | +1.4 pts | 8-K ER (FY2021Q4, 2022-01-26) ↗ |
| FY2019 | Dec 31, 2019 | 13.0% | -2.3 pts | 8-K ER (FY2020Q4, 2021-01-27) ↗ |
| FY2018 | Dec 31, 2018 | 15.3% | +1.1 pts | 8-K ER (FY2019Q4, 2020-01-29) ↗ |
| FY2017 | Dec 31, 2017 | 14.2% | – | 8-K ER (FY2018Q4, 2019-01-30) ↗ |
Breakdown
What makes up GAAP Operating Expense Ratio
Cite this data
StockData. (2026). Elevance Health GAAP Operating Expense Ratio (%), annual FY2017–FY2025 [Data set]. Compiled from Elevance Health SEC filings and investor materials. https://stockdatahq.com/stocks/elv/kpis/ratio-opex-gaap
See every metric in the Elevance Health KPI table. Data updated Oct 28, 2026.