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Elevance HealthMEX:ELV 80 Graham Number is MXN2,304.42 as of Jun. 2026, which is 100% below its 10-year median of 5.40. GuruFocus rates MEX:ELV with a GF Score™ of 80/100 and a GF Value™ of MXN8,411.98 (Modestly Undervalued). The stock has 3 warning signs investors should review. Among 12 Healthcare Plans companies, Elevance Health ranks worse than 58.33% on this metric.
Graham Number is a figure that measures a stock's fundamental value by taking into account the company's earnings per share and book value per share. The Graham number is the upper bound of the price range that a defensive investor should pay for the stock. According to the theory, any stock price below the Graham number is considered undervalued, and thus worth investing in.
As of today (2026-08-02), the stock price of Elevance Health is MXN6449.00. Elevance Health's graham number for the quarter that ended in Jun. 2026 was MXN2,304.42. Therefore, Elevance Health's Price to Graham Number ratio for today is 2.80.
The historical rank and industry rank for Elevance Health's Graham Number or its related term are showing as below:
MEX:ELV'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 2.45 Med: 5.4 Max: 55.33
Current: 2.89
During the past 13 years, the highest Price to Graham Number ratio of Elevance Health was 55.33. The lowest was 2.45. And the median was 5.40.
MEX:ELV's Price-to-Graham-Number is ranked worse than 58.33% of 12
companies
in the Healthcare Plans industry
Industry Median: 2.8
vs MEX:ELV: 2.89
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
Elevance Health (MEX:ELV) Graham Number Explanation
Ben Graham actually did not publish a formula like this. But he wrote in The Intelligent Investor (1948 version) regarding to the criteria for purchases:
Current price should not be more than 15 times average earnings of the past three years.
Current price should not be more than 1.5 times the book value last reported. However, a multiplier of earnings below 15 could justify a correspondingly higher multiplier of assets. As a rule of thumb we suggest that the product of the multiplier times the ratio of price to book value should not exceed 22.5. (This figure corresponds to 15 times earnings and 1.5 times book value. It would admit an issue selling at only 9 times earnings and 2.5 times asset value, etc.)
Unlike valuation methods such as DCF or Discounted Earnings, the Graham number does not take growth into the valuation. Unlike the valuation methods based on book value alone, it takes into account the earnings power. Therefore, the Graham Number is a combination of asset valuation and earnings power valuation.
In general, the Graham number is a very conservative way of valuing a stock. It cannot be applied to companies with negative book values.
Elevance Health's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Jun. 2026 )
=
6449.00
/
2,304.42
=
2.80
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Be Aware
Please keep these in mind:
1. Graham Number does not take growth into account. Therefore it underestimates the values of the companies that have good earnings growth. We feel that if the earnings per share grows more than 10% a year, Graham Number underestimates the value.
2. Graham Number punishes the companies that have temporarily low earnings. Therefore, an average of earnings makes more sense in the calculation of Graham Number.
3. Graham Numbers underestimates companies that are light with book.
Elevance Health Graham Number Related Terms
Elevance Health Graham Number Historical Data
* Premium members only.
The historical data trend for Elevance Health's Graham Number can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Healthcare Plans subindustry, Elevance Health's Price-to-Graham-Number, along with its competitors' market caps and Price-to-Graham-Number data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Elevance Health Price-to-Graham-Number vs Healthcare Plans Industry
For the Healthcare Plans industry and Healthcare sector, Elevance Health's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Elevance Health's Price-to-Graham-Number falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Elevance Health (MEX:ELV) has a Graham Number of MXN2,304.42 as of Jun. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on Elevance Health and its competitors. This is 42574% above median its historical median of 5.40. Over the past decade, Elevance Health's Graham Number has ranged from 2.45 to 55.33. According to the industry distribution chart, Elevance Health ranks #7 out of 12 companies in the Healthcare Plans industry, placing it in the top 58.3%.
Is Elevance Health's Graham Number too high?
Elevance Health's current Graham Number of MXN2,304.42 is 42574% above median its 10-year median of 5.40. Over the past 10 years, this metric has ranged from a low of 2.45 to a high of 55.33. Based on the distribution chart, Elevance Health ranks #7 out of 12 companies in the Healthcare Plans industry, which is below the industry midpoint. Overall, Elevance Health has a GF Score™ of 80/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Elevance Health's Graham Number compare to CI and HUM?
According to the Healthcare Plans industry distribution chart, Elevance Health ranks #7 out of 12 companies for Graham Number. This places Elevance Health in the lower half of its industry. The industry median Graham Number is 2.80. Historically, Elevance Health's own Graham Number has ranged from 2.45 to 55.33 over the past decade. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Graham Number for a Healthcare Plans company?
The median Graham Number among Healthcare Plans companies is 2.80, based on 12 companies in the industry. Companies in the top quartile (top 25%) have a Graham Number significantly above this median, while those in the bottom quartile fall well below. However, Graham Number should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Graham Number mean?
A high Graham Number can signal that a stock is expensive relative to its fundamentals. The Graham Number values a company based on its per-share earnings and book value. View historical data on Elevance Health and its competitors. For the Healthcare Plans industry, the median Graham Number is 2.80 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Elevance Health's current Graham Number is MXN2,304.42, which is 42574% above median its own 10-year median of 5.40. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Elevance Health stock overvalued right now?
Based on GuruFocus' analysis, Elevance Health (MEX:ELV) is currently considered Modestly Undervalued. The stock's GF Value™ is MXN8,411.98, compared to a current price of MXN6,449.00 — trading 23.3% below its estimated fair value. The current Graham Number is MXN2,304.42, which is 42574% above median its 10-year median of 5.40. Elevance Health's overall GF Score™ is 80/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Graham Number calculated?
Graham Number is calculated from a company's financial statements. For Elevance Health (MEX:ELV), the current Graham Number is MXN2,304.42 as of Jun. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Elevance Health (MEX:ELV) Overvalued in 2026?
Based on GuruFocus' analysis, Elevance Health stock appears to be undervalued.
The current stock price of MXN6,449.00 is trading 23.3% below its estimated GF Value™ of MXN8,411.98.
GuruFocus considers Elevance Health to be Modestly Undervalued.
Key valuation signals for MEX:ELV:
Graham Number: MXN2,304.42 (42574% above median its 10-year median of 5.40)
GF Value™: MXN8,411.98 vs. price of MXN6,449.00 (23.3% below fair value)
No single metric tells the full story. See the MEX:ELV stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Elevance Health remains one of the leading health insurers in the US, providing medical benefits to 45 million medical members at the end of 2025. The company offers employer, individual, and government-sponsored coverage plans. Elevance differs from its peers in its unique position as the largest single provider of Blue Cross Blue Shield branded coverage, operating as the licensee for the Blue Cross Blue Shield Association in 14 states. Through acquisitions, such as the Amerigroup deal in 2012 and MMM in 2021, Elevance's reach expands beyond those states in government-sponsored programs, such as Medicaid and Medicare Advantage plans, too. It is also an emerging player in pharmacy benefit management and other healthcare services.
80GF Score
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