Income Statement
Quarterly Data
The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.
Paying user area
Try for free
Elevance Health Inc. pages available for free this week:
- Balance Sheet: Assets
- Common-Size Income Statement
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Short-term (Operating) Activity Ratios
- Analysis of Long-term (Investment) Activity Ratios
- Common Stock Valuation Ratios
- Present Value of Free Cash Flow to Equity (FCFE)
- Return on Equity (ROE) since 2005
- Total Asset Turnover since 2005
- Analysis of Debt
The data is hidden behind: . Unhide it.
Get full access to the entire website from $10.42/mo, or
get 1-month access to Elevance Health Inc. for $24.99.
This is a one-time payment. There is no automatic renewal.
We accept:
Elevance Health Inc., consolidated income statement (quarterly data)
US$ in millions
Based on: 10-Q (reporting date: 2026-03-31), 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31).
Operating revenue exhibits a consistent long-term growth trajectory, increasing from 32,098 million US dollars in March 2021 to 49,494 million US dollars by March 2026. This expansion is primarily driven by a steady rise in premiums and a significant increase in product revenue, which more than doubled over the analyzed period. A notable acceleration in revenue is observed between December 2024 and March 2025, where operating revenue jumped from 44,989 million to 48,765 million US dollars.
- Revenue Stream Dynamics
- Premiums remain the dominant revenue driver, showing a general upward trend with a substantial step-up in early 2025. Product revenue demonstrated the most aggressive growth, climbing from 2,737 million US dollars in March 2021 to a peak of 6,714 million US dollars in December 2024. Service fees maintained a more stable, incremental growth pattern, moving from 1,685 million to 2,245 million US dollars.
- Cost Structure and Margin Pressure
- Cost of operating revenue has scaled in tandem with revenue growth. Benefit expenses increased from 23,699 million US dollars in March 2021 to 35,615 million US dollars in March 2026. Similarly, the cost of products sold rose from 2,313 million to 5,463 million US dollars. This parallel increase in costs has led to fluctuations in gross profit, which reached a peak of 8,470 million US dollars in March 2025 before experiencing volatility in the subsequent quarters.
- Operating Income Volatility
- Operating income is characterized by significant quarterly volatility and a recurring seasonal decline every December. Notable contractions occurred in December 2022 (1,121 million), December 2023 (1,067 million), and most severely in December 2024, where operating income fell to 493 million US dollars. Conversely, strong recoveries are typically seen in the first quarter of each year, as evidenced by the 3,015 million US dollars reported in March 2025.
- Net Profitability and Non-Operating Items
- Shareholders' net income reflects the instability of operating income, with values ranging from a low of 418 million US dollars in December 2024 to highs exceeding 2,300 million US dollars. Net investment income has generally trended upward, providing a consistent cushion against operating losses, while interest expenses have steadily risen from 192 million to 357 million US dollars over the period.