Filing Flows › Elevance Health (ELV) › Q2 2026 › vs Q2 2025
Elevance Health (ELV) Q2 2026 vs Q2 2025 (year over year)
Elevance Health's revenue rose $698M (+1%) from $49.8B in Q2 2025 to $50.5B in Q2 2026. Operating margin 3.5% against 4.9% (-1.4 pts).
Elevance Health, Q2 2026: revenue $50.5B (+1% year over year), operating margin 3.5%, net earnings $1.5B, operating cash flow $1.9B. The chart draws each line against Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Operating margin | 3.5% | 4.9% | -1.4 pts |
| Net margin | 2.9% | 3.5% | -0.6 pts |
| Free cash flow margin | 3.2% | 3.6% | -0.4 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Revenue | $50.5B | $49.8B | $698M | +1% |
| Other income, net | $174M | −$133M | $307M | — |
| Operating profit | $1.8B | $2.4B | −$662M | -27% |
| Costs & expenses | $48.7B | $47.4B | $1.4B | +3% |
| Pre-tax earnings | $1.9B | $2.3B | −$355M | -15% |
| Cost of revenue | $5.5B | $5.3B | $199M | +4% |
| SG&A | $5.5B | $5.0B | $550M | +11% |
| Other operating costs | $37.7B | $37.1B | $611M | +2% |
| Net earnings | $1.5B | $1.7B | −$290M | -17% |
| Income tax | $483M | $548M | −$65.0M | -12% |
| Depreciation & amortization | $366M | $380M | −$14.0M | -4% |
| Share-based compensation | $75.0M | $81.0M | −$6.0M | -7% |
| Working capital & other | $18.0M | −$151M | $169M | — |
| Operating cash flow | $1.9B | $2.1B | −$141M | -7% |
| Free cash flow (OCF − capex) | $1.6B | $1.8B | −$161M | -9% |
| Capital expenditures | $287M | $267M | $20.0M | +7% |
Questions
How much did Elevance Health's revenue grow year over year in Q2 2026?
Elevance Health's revenue rose $698M (+1%) from $49.8B in Q2 2025 to $50.5B in Q2 2026. Operating margin 3.5% against 4.9% (-1.4 pts).