Net Profit Margin
since 2005
Calculation
Elevance Health Inc., net profit margin, long-term trends, calculation
| Net profit margin | = | 100 | × | Shareholders’ net income1 | ÷ | Operating revenue1 | |
|---|---|---|---|---|---|---|---|
| Dec 31, 2025 | 2.87% | = | 100 | × | 5,662) | ÷ | 197,584) |
| Dec 31, 2024 | 3.41% | = | 100 | × | 5,980) | ÷ | 175,204) |
| Dec 31, 2023 | 3.52% | = | 100 | × | 5,987) | ÷ | 170,209) |
| Dec 31, 2022 | 3.87% | = | 100 | × | 6,025) | ÷ | 155,660) |
| Dec 31, 2021 | 4.46% | = | 100 | × | 6,104) | ÷ | 136,943) |
| Dec 31, 2020 | 3.78% | = | 100 | × | 4,572) | ÷ | 120,808) |
| Dec 31, 2019 | 4.66% | = | 100 | × | 4,807) | ÷ | 103,141) |
| Dec 31, 2018 | 4.11% | = | 100 | × | 3,750) | ÷ | 91,341) |
| Dec 31, 2017 | 4.31% | = | 100 | × | 3,843) | ÷ | 89,061) |
| Dec 31, 2016 | 2.93% | = | 100 | × | 2,470) | ÷ | 84,194) |
| Dec 31, 2015 | 3.27% | = | 100 | × | 2,560) | ÷ | 78,405) |
| Dec 31, 2014 | 3.52% | = | 100 | × | 2,570) | ÷ | 73,022) |
| Dec 31, 2013 | 3.55% | = | 100 | × | 2,490) | ÷ | 70,191) |
| Dec 31, 2012 | 4.37% | = | 100 | × | 2,656) | ÷ | 60,729) |
| Dec 31, 2011 | 4.42% | = | 100 | × | 2,647) | ÷ | 59,865) |
| Dec 31, 2010 | 4.99% | = | 100 | × | 2,887) | ÷ | 57,844) |
| Dec 31, 2009 | 7.80% | = | 100 | × | 4,746) | ÷ | 60,829) |
| Dec 31, 2008 | 4.04% | = | 100 | × | 2,491) | ÷ | 61,579) |
| Dec 31, 2007 | 5.56% | = | 100 | × | 3,345) | ÷ | 60,122) |
| Dec 31, 2006 | 5.52% | = | 100 | × | 3,095) | ÷ | 56,075) |
| Dec 31, 2005 | 5.53% | = | 100 | × | 2,464) | ÷ | 44,513) |
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
1 US$ in millions
The net profit margin exhibited considerable fluctuation over the period examined, spanning from 2005 to 2025. Initial values demonstrated relative stability, followed by a period of significant variance, and concluding with a downward trend in recent years.
- Initial Stability and Peak (2005-2009)
- From 2005 through 2007, the net profit margin remained relatively consistent, fluctuating between 5.52% and 5.56%. A substantial increase was then observed in 2008, peaking at 7.80% in 2009. This period represents the highest margin achieved within the analyzed timeframe.
- Subsequent Decline and Recovery (2010-2017)
- Following the 2009 peak, the net profit margin experienced a decline, reaching 2.93% in 2016. A partial recovery occurred in 2017, with the margin increasing to 4.31%. This period suggests increased cost pressures or shifts in revenue mix impacting profitability.
- Recent Fluctuations and Downward Trend (2018-2025)
- From 2018 to 2021, the net profit margin fluctuated between 3.78% and 4.66%. However, the most recent three years (2022-2025) demonstrate a clear downward trend, decreasing from 3.87% in 2022 to 2.87% in 2025. This suggests a potential weakening of profitability in the most recent period, despite increasing operating revenue.
- Overall Trend
- While periods of growth and recovery were present, the overall trend indicates a decline in net profit margin from the high point in 2009 to the most recent year analyzed. The margin has decreased by approximately 4.93 percentage points over this timeframe. This warrants further investigation into the underlying factors contributing to this decline.
The observed variations in net profit margin likely reflect changes in operating costs, revenue mix, pricing strategies, and broader economic conditions. Continued monitoring of this metric is recommended to assess the long-term sustainability of profitability.
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Comparison to Competitors
Elevance Health Inc., net profit margin, long-term trends, comparison to competitors
| Elevance Health Inc. | Abbott Laboratories | Intuitive Surgical Inc. | Medtronic PLC | UnitedHealth Group Inc. | |
|---|---|---|---|---|---|
| Dec 31, 2025 | 2.87% | 14.72% | 28.38% | 13.90% | 2.72% |
| Dec 31, 2024 | 3.41% | 31.95% | 27.81% | 11.36% | 3.65% |
| Dec 31, 2023 | 3.52% | 14.27% | 25.24% | 12.03% | 6.09% |
| Dec 31, 2022 | 3.87% | 15.88% | 21.25% | 15.90% | 6.25% |
| Dec 31, 2021 | 4.46% | 16.42% | 29.85% | 11.97% | 6.06% |
| Dec 31, 2020 | 3.78% | 12.99% | 24.33% | 16.56% | 6.03% |
| Dec 31, 2019 | 4.66% | 11.56% | 30.80% | 15.16% | 5.76% |
| Dec 31, 2018 | 4.11% | 7.74% | 30.29% | 10.36% | 5.33% |
| Dec 31, 2017 | 4.31% | 1.74% | 21.09% | 13.56% | 5.28% |
| Dec 31, 2016 | 2.93% | 6.71% | 27.21% | 12.27% | 3.81% |
| Dec 31, 2015 | 3.27% | 21.68% | 24.69% | 13.20% | 3.72% |
| Dec 31, 2014 | 3.52% | 11.28% | 19.65% | 18.02% | 4.33% |
| Dec 31, 2013 | 3.55% | 11.79% | 29.62% | 20.90% | 4.62% |
| Dec 31, 2012 | 4.37% | 14.95% | 30.14% | 22.35% | 5.03% |
| Dec 31, 2011 | 4.42% | 12.17% | 28.17% | 19.43% | 5.08% |
| Dec 31, 2010 | 4.99% | 13.15% | 27.02% | 19.59% | 4.95% |
| Dec 31, 2009 | 7.80% | 18.68% | 22.11% | 14.86% | 4.42% |
| Dec 31, 2008 | 4.04% | 16.53% | 23.35% | 16.51% | 3.70% |
| Dec 31, 2007 | 5.56% | 13.92% | 24.06% | 22.78% | 6.26% |
| Dec 31, 2006 | 5.52% | 7.64% | 19.33% | 22.55% | 5.89% |
| Dec 31, 2005 | 5.53% | 15.10% | 41.41% | 17.94% | 7.36% |
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Sector (Health Care Equipment & Services)
Elevance Health Inc., net profit margin, long-term trends, comparison to sector (health care equipment & services)
| Elevance Health Inc. | Health Care Equipment & Services | |
|---|---|---|
| Dec 31, 2025 | 2.87% | 4.36% |
| Dec 31, 2024 | 3.41% | 6.09% |
| Dec 31, 2023 | 3.52% | 6.43% |
| Dec 31, 2022 | 3.87% | 7.05% |
| Dec 31, 2021 | 4.46% | 7.14% |
| Dec 31, 2020 | 3.78% | 6.82% |
| Dec 31, 2019 | 4.66% | 6.91% |
| Dec 31, 2018 | 4.11% | 5.87% |
| Dec 31, 2017 | 4.31% | 5.60% |
| Dec 31, 2016 | 2.93% | 4.73% |
| Dec 31, 2015 | 3.27% | 5.78% |
| Dec 31, 2014 | 3.52% | 5.76% |
| Dec 31, 2013 | 3.55% | 6.37% |
| Dec 31, 2012 | 4.37% | 8.05% |
| Dec 31, 2011 | 4.42% | 7.40% |
| Dec 31, 2010 | 4.99% | 7.67% |
| Dec 31, 2009 | 7.80% | 8.63% |
| Dec 31, 2008 | 4.04% | 6.88% |
| Dec 31, 2007 | 5.56% | 8.40% |
| Dec 31, 2006 | 5.52% | 7.20% |
| Dec 31, 2005 | 5.53% | 9.04% |
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Industry (Health Care)
Elevance Health Inc., net profit margin, long-term trends, comparison to industry (health care)
| Elevance Health Inc. | Health Care | |
|---|---|---|
| Dec 31, 2025 | 2.87% | 11.79% |
| Dec 31, 2024 | 3.41% | 8.84% |
| Dec 31, 2023 | 3.52% | 11.49% |
| Dec 31, 2022 | 3.87% | 14.65% |
| Dec 31, 2021 | 4.46% | 15.24% |
| Dec 31, 2020 | 3.78% | 10.27% |
| Dec 31, 2019 | 4.66% | 14.56% |
| Dec 31, 2018 | 4.11% | 12.61% |
| Dec 31, 2017 | 4.31% | 9.26% |
| Dec 31, 2016 | 2.93% | 12.80% |
| Dec 31, 2015 | 3.27% | 13.94% |
| Dec 31, 2014 | 3.52% | 14.40% |
| Dec 31, 2013 | 3.55% | 15.04% |
| Dec 31, 2012 | 4.37% | 13.92% |
| Dec 31, 2011 | 4.42% | 12.06% |
| Dec 31, 2010 | 4.99% | 11.90% |
| Dec 31, 2009 | 7.80% | 17.77% |
| Dec 31, 2008 | 4.04% | 13.00% |
| Dec 31, 2007 | 5.56% | 12.52% |
| Dec 31, 2006 | 5.52% | 15.30% |
| Dec 31, 2005 | 5.53% | 14.61% |
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).