---
title: Elevance Health (ELV) — intrinsic value and fair price
canonical: https://sweetvaluelab.com/stocks/elv
ticker: ELV
as_of: 2026-10-17
sector: Healthcare
industry: Medical - Healthcare Plans
---
# Elevance Health (ELV)

Elevance Health (ELV) closed at $428.26 on Oct 16, 2026, undervalued by 20% vs its model value of $532.36 (from a five-year discounted cash flow).

## Key figures

| Figure | Value |
| --- | ---: |
| Last close | $428.26 (Oct 16, 2026) |
| Model value (from a five-year discounted cash flow) | $532.36 |
| Price vs model | undervalued by 20% vs model |
| Range of that model | $292.34 – $1,339.53 |
| Market value | $92.9B |
| P/E (fiscal 2025) | 17.0 |
| Net margin (fiscal 2025) | 2.8% |
| Free cash flow (fiscal 2025) | $3.2B |
| Dividend yield (trailing twelve months) | 1.60% |
| Beta | 0.71 |
| Cost of capital (WACC) | 7.37% |
| Business classification | Mature & Stable (Low/slowing growth (~8% recent), Thin margins (2.8% net margin), Pays dividends, Highly cyclical earnings) |

## On the stock lists

| List | Place | Figure | Page |
| --- | ---: | ---: | --- |
| Near 52-week highs | #24 | 0.0% | https://sweetvaluelab.com/lists/near-52-week-highs |

## Dividends

| Figure | Value |
| --- | ---: |
| Trailing dividend yield | 1.60% |
| Dividends per share, last 12 months | $6.87 |
| Dividends / free cash flow (fiscal 2025) | 48.2% |
| Raised | 14+ years in a row |
| Growth over 5 years | 9.6% a year |
| Latest payment | $1.72, ex-date Sep 10, 2026, paid Sep 25, 2026 |

| Year of payments | Dividends per share |
| --- | ---: |
| To Sep 9, 2021 | $4.34 |
| To Sep 8, 2022 | $4.97 |
| To Sep 7, 2023 | $5.72 |
| To Sep 10, 2024 | $6.37 |
| To Sep 10, 2025 | $6.76 |
| Trailing twelve months (to Sep 10, 2026) | $6.87 |

## Valuation models

Each model's value per share and the role the engine gave it for this business. The headline above is one model's value; every other model is listed with its own, and each has a page of its own under the valuation. Computed Oct 17, 2026.

| Model | Role | Value per share | Low | High |
| --- | --- | ---: | ---: | ---: |
| DCF · Perpetuity growth · 5y | primary | $532.36 | $292.34 | $1,339.53 |
| DCF · Perpetuity growth · 10y | cross check | $549.64 | $315.39 | $1,346.39 |
| DCF · EBITDA exit · 5y | cross check | $605.49 | $428.69 | $813.39 |
| DCF · EBITDA exit · 10y | cross check | $609.26 | $418.15 | $862.76 |
| P/E · peers | cross check | $556.32 | $379.90 | $1,479.69 |
| P/E · own history | cross check | $482.70 | $405.41 | $521.90 |
| PEG | sanity check | $402.14 | $402.14 | $402.14 |
| EV/EBITDA · peers | cross check | $518.04 | $231.93 | $612.30 |
| EV/Revenue · peers | cross check | $241.57 | $145.98 | $288.75 |
| Earnings power value | cross check | $365.01 | $286.28 | $483.98 |
| Dividend discount | cross check | $201.97 | $134.44 | $346.10 |

## Insider activity (SEC Form 4)

No open-market insider buys or sales filed in the past 90 days.

| Date | Insider | Relationship | Transaction | Shares | Value |
| --- | --- | --- | --- | ---: | ---: |
| Oct 2, 2026 | Kaye Mark | EVP & CFO | Grant / award | 2,627 | $0 |
| Oct 2, 2026 | Kaye Mark | EVP & CFO | Tax withholding | 4,161 | $1.6M |
| Sep 2, 2026 | Wessling Erin M | EVP & Chief Legal Officer | Tax withholding | 94 | $38,149 |
| Sep 3, 2026 | Wessling Erin M | EVP & Chief Legal Officer | Tax withholding | 255 | $105,768.9 |
| Sep 2, 2026 | Craig Ryan R | EVP & Chief HR Officer | Tax withholding | 144 | $58,441 |

## Recent SEC filings

| Filed | Form | What | Filing |
| --- | --- | --- | --- |
| Sep 10, 2026 | 8-K | 7.01 Regulation FD Disclosure | https://www.sec.gov/Archives/edgar/data/1156039/000115603926000063/elv-20260910.htm |
| Jul 15, 2026 | 10-Q | Quarterly report | https://www.sec.gov/Archives/edgar/data/1156039/000115603926000060/elv-20260630.htm |
| Jul 15, 2026 | 8-K | 2.02 Results of Operations (Earnings); 9.01 Financial Statements and Exhibits | https://www.sec.gov/Archives/edgar/data/1156039/000115603926000058/elv-20260715.htm |
| Jun 10, 2026 | 8-K | 7.01 Regulation FD Disclosure | https://www.sec.gov/Archives/edgar/data/1156039/000115603926000049/elv-20260610.htm |
| May 13, 2026 | 8-K | 5.07 Submission of Matters to a Shareholder Vote | https://www.sec.gov/Archives/edgar/data/1156039/000115603926000046/elv-20260513.htm |

## Superinvestors holding it (latest 13F)

| Manager | Quarter | Shares | Value |
| --- | --- | ---: | ---: |
| Bill Nygren | 2026-06-30 | 4,924,511 | $1.9B |
| First Eagle | 2026-06-30 | 4,188,196 | $1.6B |
| Klarman | 2026-06-30 | 1,275,154 | $493.1M |
| Ruane Cunniff | 2026-06-30 | 979,598 | $378.8M |

12 tracked managers in all.

## About

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.

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Source: https://sweetvaluelab.com/stocks/elv (SweetValueLab, free, no account). Prices and statements from Financial Modeling Prep; filings from SEC EDGAR. Research and educational data, not investment advice; nothing here is a recommendation to buy, sell or hold any security.