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UnitedHealth Group vs Elevance Health: UNH and ELV compared
UnitedHealth Group is the larger company: $112.7B of revenue in its latest quarter (Q3 2026) against $51.4B for Elevance Health (Q3 2026). Elevance Health is growing faster (+1% against -0.4% a year earlier). UnitedHealth Group is more profitable, with an operating margin of 5.8% against 2.5%.
Where the money goes: UNH and ELV
UnitedHealth Group (UNH) · Q3 2026
UnitedHealth Group, Q3 2026: revenue $112.7B (-0.4% year over year), operating margin 5.8%, net earnings $4.1B, operating cash flow $5.1B. The chart follows the revenue to costs, profit and cash.
Elevance Health (ELV) · Q3 2026
Elevance Health, Q3 2026: revenue $51.4B (+1% year over year), operating margin 2.5%, net earnings $1.3B, operating cash flow $1.3B. The chart follows the revenue to costs, profit and cash.
| UnitedHealth Group (UNH) | Elevance Health (ELV) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $112.7B | $51.4B |
| Revenue growth, Y/Y | -0.4% | +1% |
| Operating margin | 5.8% | 2.5% |
| Net earnings | $4.1B | $1.3B |
| Net margin | 3.6% | 2.6% |
| Operating cash flow | $5.1B | $1.3B |
| Free cash flow | $4.3B | $1.0B |
| Market value | $355.5B | $94.0B |
| P/E | 22.5× | 18.4× |
| Analysts’ mean target | $476.64 | $482.38 |
Questions
Which is bigger, UnitedHealth Group or Elevance Health?
UnitedHealth Group is the larger company: $112.7B of revenue in its latest quarter (Q3 2026) against $51.4B for Elevance Health (Q3 2026).
Is UnitedHealth Group or Elevance Health growing faster?
Elevance Health is growing faster (+1% against -0.4% a year earlier).
Which is more profitable, UnitedHealth Group or Elevance Health?
UnitedHealth Group is more profitable, with an operating margin of 5.8% against 2.5%.
More: UnitedHealth Group earnings · how UnitedHealth Group makes money · Elevance Health earnings · how Elevance Health makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Nov 3, 2026; 10-Q filed Oct 21, 2026). Fiscal quarters can end on different dates. Not investment advice.