CluenexElevance Health ELV
Elevance Health scores average on business quality (4.9 of 10). Here is why, in plain words, and what our sealed record shows.
Why it matters
- What Elevance Health does
Elevance Health sells managed healthcare plans to millions of members via its Blue Cross Blue Shield licenses, collecting premiums from employers and individuals to fund medical care. The company is leaning into expanding its Carelon health services division to diversify revenue away from traditional insurance payouts.
- What it does best
Elevance dominates scale in its regional health plans, supported by a revenue base of $201 billion. This massive membership footprint locks in provider networks that smaller rivals like Molina Healthcare struggle to match.
- The main risk
Medical cost inflation threatens operating margins, which sit at a thin 3.6%. If care utilization spikes unexpectedly, plan pricing cannot adjust fast enough to protect bottom-line profits.
Quality, check by check
Scored against its own industry, from company filings.
Operating margin of 3.6% and net margin of 2.5% highlight a razor-thin profit structure. Profitability is compressing as medical loss ratios weigh on earnings, showing that scale does not cleanly translate into higher margins here.
The regulatory moat relies on Blue Cross Blue Shield brand exclusivity across multiple states, locking in millions of local consumers. Operating margin sits in the bottom quartile of its sector at the 14th percentile, limiting the financial cushion of this moat.
Revenue grew 12.6% to $201B, continuing a steady multi-year expansion from $122B in 2020. This top-line momentum outpaces historical norms, putting revenue growth in the top quartile of its sector at the 74th percentile.
Debt-to-equity sits at 0.73 with an interest coverage ratio of 5.1x, meaning debt servicing is manageable. Free cash flow reached $6.3B, showing healthy conversion, though it is softer than historical peaks.
Insiders
Executives and directors, from SEC Form 4 filings we read ourselves. Open market trades only; grants, option exercises and pre-planned sales left out.
2 insiders bought $1.4M on the open market.
Our sealed record on ELV
Verdicts appear here 30 days after we publish them; members see today's. Each one is in the nightly ledger, fingerprinted the night it was made.
The first sealed verdicts appear here on Oct 11, 2026.
Questions
Elevance Health scores average on the Cluenex quality check (4.9 of 10), measured against its own industry. Profitability is weak, moat fair, growth steady and financial health fair.
In the last 90 days of SEC Form 4 filings: 2 insiders bought $1.4M on the open market.
Oct 21, 2026, before the open.
See ELV today
- Today's verdict on ELV, and why
- Fair value with cautious, base and optimistic cases
- The exact price that would change the verdict
- Which stocks each signal names, the night it fires
Cite this page: Cluenex, “Elevance Health (ELV)”, https://cluenex.com/stocks/elv/, data as of Oct 10, 2026.