Elevance Health (ELV)
NYSEHealth CareHealthcare PlansSnapshot 2026-07-07
$418.86+2.62%
Close 2026-07-07 · 1-day change
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Track ELV free→Warn: Management is running behind on a stated commitment.
Elevance Health grows earnings steadily with EPS guidance raised to $26.75 for 2026. The company generates strong cash flow, targeting at least $5.5 billion in operating cash flow. It returns capital consistently, repurchasing $1.1 billion in shares in Q1 2026. Valuation is cheap versus peers, trading at a PE of 13.6 versus 26.6 median.
Revenue growth is weak, with consensus expecting a slight decline of -0.6%. Management guidance is soft, and operating risks like regulatory sanctions could hurt results. Share buybacks may slow if cash flow weakens.
The market prices the stock about 9% below our fair value near $453, reflecting modest revenue decline expectations. Our fair value is 7% above the Street median, indicating some upside if growth stabilizes.
Breaks if: EPS guidance falls below $25.5 for FY 2026
Elevance Health aims to increase its full-year 2026 adjusted diluted EPS guidance to at least $26.75.
Standing thesis, reviewed periodically — not a price target or advice.
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
Stated in 4 of last 4 quarters. FY 2026 adjusted diluted EPS guidance was raised from at least $25.50 to $26.75, reflecting management's confidence in underlying business strength. The trajectory is delivering as guidance has been consistently raised.
“FY 2026 adjusted diluted EPS guidance raised to at least $26.75.”
“Projected FY 2026 adjusted diluted EPS to be at least $25.50.”
“Reaffirm FY 2025 benefit expense ratio and adjusted diluted EPS guidance.”
“Revising FY 2025 adjusted diluted EPS guidance to approximately $30.00.”
Breaks if: Operating cash flow falls below $5.0 billion in FY 2026
Elevance Health reaffirms its guidance for operating cash flow of at least $5.5 billion for FY 2026.
Stated in 3 of last 3 quarters. FY 2026 operating cash flow guidance remains at least $5.5 billion, consistent with previous quarters. Cash from operating activities was $4.3 billion in 2026-Q1, indicating progress towards the target.
“Reaffirm FY 2026 operating cash flow of at least $5.5 billion.”
“Reaffirming long-term earnings algorithm; recalibrating segment margin targets.”
“Reaffirm FY 2025 benefit expense ratio and adjusted diluted EPS guidance.”
Breaks if: Revenue growth falls below -1% YoY
Breaks if: Buybacks drop below $0.8 billion per quarter
Elevance Health continues its share repurchase program with $5.6 billion of authorization remaining.
Stated in 4 of last 4 quarters. Elevance Health repurchased 3.7 million shares for $1.1 billion in 2026-Q1, with $5.6 billion of authorization remaining. The program is ongoing, with consistent capital return to shareholders.
“Repurchased 3.7 million shares for $1.1 billion.”
“Returned $4.1 billion of capital to shareholders in 2025.”
“Returned $3.3 billion of capital to shareholders year-to-date.”
“Returned $2.0 billion of capital to shareholders year-to-date.”