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Elevance Health Inc. — Intrinsic Value & Fair Price

ELV
NYSEHealthcareMedical - Healthcare PlansCIK 0001156039elevancehealth.comAbout ELV
Last close · Oct 16, 2026428.26−0.17 (−0.04%)
Market cap$92.9B
Model value · DCF · Perpetuity growth · 5y
532.36
Elevance Health closed at $428.26 — undervalued by 20% vs model.
292.34the model's range1,339.53

DCF · Perpetuity growth · 5y leads for a mature, steady company — positive operating income and three years of positive free cash flow. From a five-year discounted cash flow.

Other models
201.97 – 609.26
Wall St. target
450.00 5% below
Below model, 1y
20 of 20 days

Price and model value

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What the marks mean
Daily close

Dividends

Quarterly · as of Oct 16, 2026
Yield, trailing 12 months
1.60%
Past 2 years
low 1.11%high 2.44%
Dividends per share, a year at a time
$4.34Sep ’21$4.97Sep ’22$5.72Sep ’23$6.37Sep ’24$6.76Sep ’25$6.87TTM
Dividends / free cash flow, FY2025
48.2%
Raised
14+ years in a row
Growth, 5 yrs
9.6% a year
Last change
+0.6% · Mar 2026
Every payment, with ex-dates · latest $1.72, paid Sep 25, 2026

Research on ELV

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How it is valued

Valued asMature & stable
Low/slowing growth (~8% recent)Thin margins (2.8% net margin)Pays dividendsHighly cyclical earnings
What growth the price implies: the reverse DCF

Key figures

FY2025 · chosen for mature companies
P/E
17.0×
EV / EBITDA
12.0×
FCF yield
3.3%
Dividend yield, TTM
1.60%
Beta
0.71
Cost of capital (WACC)
7.37%
Full financials

Analyst actions

third-party, quoted
10-12Guggenheim · target460.00
10-07Barclays · target469.00
07-17Leerink Partners · target395.00
05-20Deutsche Bank · “Buy” from “Hold”upgrade
Ratings, targets and estimates

Comparable companies

by business, not by industry label
Side by side:vs UNH

The weekly

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About Elevance Health

Operating as a major health benefits organization, Elevance Health Inc. commits to guiding consumers, families, and communities across their entire health and wellness path. It facilitates access to vital care, assistance, and tools designed to enable healthier living for approximately 118 million individuals. The company's comprehensive offerings span medical, digital, pharmaceutical, behavioral health, clinical, and other care solutions. Founded in 1944 and based in Indianapolis, Indiana, this entity adopted its current name, Elevance Health Inc., in June 2022, having previously operated as Anthem, Inc.

CEO
Gail Koziara Boudreaux
Headquarters
Indianapolis, IN
Employees
96,615
IPO
2001-10-30
Full company profile

Model estimates for research reference only, not investment advice. Every model rests on assumptions that may not match what happens; the formulas are in how we value a stock.