Aureus
FRed Flag

Elevance Health, Inc.(ELV)

F

Financial data as of Dec 31, 2025Declining · Healthcare

FCF Margin1.6%Free Cash Flow / Revenue
Cash Conversion75.8%Operating CF / Net Income
Free Cash Flow$3.2B
Revenue$199.1B
Net Cash-$22.6BNet debt position
Debt / FCF10.1xElevated debt burden
Current Ratio0.00Tight short-term liquidity
YoY FCF Growth-154.4%4 of 5 quarters positive

How This Grade Was Calculated

Base grade from FCF margin, adjusted by financial health factors

BaseF
→
-2Very high debt-to-FCF ratio (10.1x)
→
-1Current ratio below 1.0 (0.00)
→
-1Significant YoY FCF decline (-154.4%)
→
-0.5Highly volatile FCF (consistency: 0.92)
→
FinalF

Analysis Summary

Concerns

  • Low FCF margin (1.6%)
  • Heavy debt position ($22.6B)
  • High debt-to-FCF ratio (10.1x)
  • Current ratio below 1.0 — tight short-term liquidity
  • Significant YoY FCF decline (-154.4%)
  • Highly volatile quarterly FCF
  • Significant FCF decline (-154.4% YoY)

Financial Breakdown

Key financials compared side by side

Margin Composition

FCF Margin1.6%
Net Margin2.8%
Operating CF Margin2.2%
CapEx Ratio0.6%

Balance Sheet Health

Debt, liquidity, and leverage snapshot

Net Cash-$22.6BNet debt position
Debt / FCF10.1xElevated debt burden
Current Ratio0.00Tight liquidity
Debt / Equity0.73Low leverage

Quarterly FCF Trend

-154.4% YoYDeclining (-154.4%)

Free cash flow per quarter

Sector Comparison — Healthcare

FCF Margin ranked against sector peers

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Detailed Metrics

Company NameElevance Health, Inc.
SectorHealthcare
Free Cash Flow$3.2B
Revenue$199.1B
Net Income$5.7B
Operating Cash Flow$4.3B
Capital Expenditure$1.1B
FCF Margin1.6%
Cash Conversion Rate75.8%
Net Margin2.8%
Total Debt$32.0B
Total Cash$9.5B
Net Cash-$22.6B
Current Ratio0.00
Debt / Equity0.73
Debt / FCF10.1x
YoY FCF Growth-154.4%
Positive Quarters4 of 5
Trend DirectionDeclining
Report DateDec 31, 2025
GradeF
Data SourceYahoo Finance

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