Elevance HealthWBO:ELV -0.61%84 Net Margin % is 3.52% as of Mar. 2026, which is 6% below its 10-year median of 3.76. GuruFocus rates WBO:ELV with a GF Score™ of 84/100 and a GF Value™ of €445.89 (Modestly Undervalued). The stock has 6 warning signs investors should review. Among 18 Healthcare Plans companies, Elevance Health ranks better than 61.11% on this metric.
Net margin is calculated as Net Income divided by its Revenue. Elevance Health's Net Income for the
three
months ended in Mar. 2026 was €1,526 Mil. Elevance Health's Revenue for the
three
months ended in Mar. 2026 was €43,407 Mil. Therefore, Elevance Health's net margin for the quarter that ended in Mar. 2026 was 3.52%.
The historical rank and industry rank for Elevance Health's Net Margin % or its related term are showing as below:
WBO:ELV'
s Net Margin % Range Over the Past 10 Years
Min: 2.62 Med: 3.76 Max: 4.61
Current: 2.62
WBO:ELV's Net Margin % is ranked better than 61.11% of 18
companies
in the Healthcare Plans industry
Industry Median: 0.95
vs WBO:ELV: 2.62
Elevance Health (WBO:ELV) Net Margin % Explanation
Although Net Income and Earnings-per-Share (EPS) are the most widely used parameter in measuring a company's profitability and valuation, it is the least reliable. The reason is that reported earnings can be manipulated easily by adjusting any numbers such as Depreciation, Depletion and Amotorization and non-recurring items.
But the long term trend of the net margin is a good indicator of the competitiveness and health of the business.
Elevance Health Net Margin % Related Terms
Elevance Health Net Margin % Historical Data
* Premium members only.
The historical data trend for Elevance Health's Net Margin % 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 Net Margin %, along with its competitors' market caps and Net Margin % 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 Net Margin % vs Healthcare Plans Industry
For the Healthcare Plans industry and Healthcare sector, Elevance Health's Net Margin % distribution charts can be found below:
* The bar in red indicates where Elevance Health's Net Margin % 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 (WBO:ELV) has a Net Margin % of 3.52% as of Mar. 2026. Net margin is the ratio of total net income to net sales. View historical data on Elevance Health and its competitors. This is near median its historical median of 3.76. Over the past decade, Elevance Health's Net Margin % has ranged from 2.62 to 4.61. According to the industry distribution chart, Elevance Health ranks #7 out of 18 companies in the Healthcare Plans industry, placing it in the top 38.9%.
Is Elevance Health's Net Margin % too high?
Elevance Health's current Net Margin % of 3.52% is near median its 10-year median of 3.76. Over the past 10 years, this metric has ranged from a low of 2.62 to a high of 4.61. The Healthcare Plans industry median Net Margin % is 0.95. Elevance Health's value of 3.52% is 270.5% above this industry median. Based on the distribution chart, Elevance Health ranks #7 out of 18 companies in the Healthcare Plans industry, which is above the industry midpoint. Overall, Elevance Health has a GF Score™ of 84/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Elevance Health's Net Margin % compare to CI and CVS?
According to the Healthcare Plans industry distribution chart, Elevance Health ranks #7 out of 18 companies for Net Margin %. This puts Elevance Health in the upper half of its industry. The industry median Net Margin % is 0.95. Elevance Health's value of 3.52% is 270.5% above this benchmark. Historically, Elevance Health's own Net Margin % has ranged from 2.62 to 4.61 over the past decade. While the company's 10-year median is 3.76 vs. the industry median of 0.95, Elevance Health has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Net Margin % for a Healthcare Plans company?
The median Net Margin % among Healthcare Plans companies is 0.95, based on 18 companies in the industry. Companies in the top quartile (top 25%) have a Net Margin % significantly above this median, while those in the bottom quartile fall well below. However, Net Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Elevance Health's current Net Margin % of 3.52% is 270.5% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Net Margin % mean?
A high Net Margin % can signal that a stock is expensive relative to its fundamentals. Net margin is the ratio of total net income to net sales. View historical data on Elevance Health and its competitors. For the Healthcare Plans industry, the median Net Margin % is 0.95 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Elevance Health's current Net Margin % is 3.52%, which is near median its own 10-year median of 3.76. 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 (WBO:ELV) is currently considered Modestly Undervalued. The stock's GF Value™ is €445.89, compared to a current price of €339.60 — trading 23.8% below its estimated fair value. The current Net Margin % is 3.52%, which is near median its 10-year median of 3.76 and 270.5% above the Healthcare Plans industry median of 0.95. Elevance Health's overall GF Score™ is 84/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Net Margin % calculated?
Net Margin % is calculated from a company's financial statements. For Elevance Health (WBO:ELV), the current Net Margin % is 3.52% as of Mar. 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 (WBO:ELV) Overvalued in 2026?
Based on GuruFocus' analysis, Elevance Health stock appears to be undervalued.
The current stock price of €339.60 is trading 23.8% below its estimated GF Value™ of €445.89.
GuruFocus considers Elevance Health to be Modestly Undervalued.
Key valuation signals for WBO:ELV:
Net Margin %: 3.52% (near median its 10-year median of 3.76)
GF Value™: €445.89 vs. price of €339.60 (23.8% below fair value)
Industry Position: 270.5% above the Healthcare Plans median (#7 of 18)
No single metric tells the full story. See the WBO: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.
84GF Score
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