Elevance HealthELV -0.99%88 3-Year ROIIC % is 1.91 as of Dec. 2025, which is 76% below its 10-year median of 7.91. GuruFocus rates ELV with a GF Score™ of 88/100 and a GF Value™ of $507.80 (Modestly Undervalued). The stock has 8 warning signs investors should review. Among 18 Healthcare Plans companies, Elevance Health ranks better than 66.67% on this metric.
3-Year Return on Invested Incremental Capital (3-Year ROIIC %) measures the change in earnings as a percentage of change in investment over 3-year.
Elevance Health's 3-Year ROIIC % for the quarter that ended in Dec. 2025 was 1.91%. High ROIIC is generally an indication that your business is capital efficient or has a higher operating leverage.
The industry rank for Elevance Health's 3-Year ROIIC % or its related term are showing as below:
ELV's 3-Year ROIIC % is ranked better than 66.67% of 18
companies
in the Healthcare Plans industry
Industry Median: -11.815
vs ELV: 1.91
Elevance Health (NYSE:ELV) 3-Year ROIIC % Explanation
Return on Incremental Invested Capital (ROIIC) is an extension of Return on Investment Capital (ROIC). ROIC % tells investors how efficiently that profitability is earned per dollar of company capital. ROIIC narrows the focus even further and shows how profitable each additional unit of capital investment could be. ROIIC % is a more powerful metric than ROIC because it measures how much money the company can generate going forward on future capital investments.
High ROIIC is generally an indication that your business is capital efficient or has a higher operating leverage.
Be Aware
It's important to keep in mind that when tracking ROIIC, the metric is better suited to forecasting the trend of future returns rather than measuring current return on investment.
Elevance Health 3-Year ROIIC % Related Terms
Elevance Health 3-Year ROIIC % Historical Data
* Premium members only.
The historical data trend for Elevance Health's 3-Year ROIIC % 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 3-Year ROIIC %, along with its competitors' market caps and 3-Year ROIIC % 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 3-Year ROIIC % vs Healthcare Plans Industry
For the Healthcare Plans industry and Healthcare sector, Elevance Health's 3-Year ROIIC % distribution charts can be found below:
* The bar in red indicates where Elevance Health's 3-Year ROIIC % falls into.
Elevance Health's 3-Year ROIIC % for the quarter that ended in Dec. 2025 is calculated as:
3-Year ROIIC %
=
3-Year Incremental Net Operating Profit After Taxes (NOPAT)**
/
3-Year Incremental Invested Capital**
=
( 6844.0944 (Dec. 2025) - 6546.9897 (Dec. 2022) )
/
( 97553.25 (Dec. 2025) - 81994.75 (Dec. 2022) )
=
297.1047
/
15558.5
=
1.91%***
* 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.
** Annual data of NOPAT and Invested Capital was used to calculate 3-Year ROIIC %.
*** Please be aware that the ROIIC (Return on Invested Capital) calculations are based on company-level data using the primary share class. The calculated data provided is for demonstration purposes and may slightly differ from the results displayed in the title due to potential variations caused by currency exchange rate differences throughout the year.
Elevance Health (ELV) has a 3-Year ROIIC % of 1.91 as of Dec. 2025. 3-Year ROIIC % measures the change in earnings as a percentage of change in investment over 3-year. View historical data on Elevance Health and its competitors. This is 76% below median its historical median of 7.91. According to the industry distribution chart, Elevance Health ranks #6 out of 18 companies in the Healthcare Plans industry, placing it in the top 33.3%.
Is Elevance Health's 3-Year ROIIC % too high?
Elevance Health's current 3-Year ROIIC % of 1.91 is 76% below median its 10-year median of 7.91. Based on the distribution chart, Elevance Health ranks #6 out of 18 companies in the Healthcare Plans industry, which is above the industry midpoint. Overall, Elevance Health has a GF Score™ of 88/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Elevance Health's 3-Year ROIIC % compare to CI and HUM?
According to the Healthcare Plans industry distribution chart, Elevance Health ranks #6 out of 18 companies for 3-Year ROIIC %. This puts Elevance Health in the upper half of its industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good 3-Year ROIIC % for a Healthcare Plans company?
A good 3-Year ROIIC % depends on the Healthcare Plans industry context. However, 3-Year ROIIC % 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 3-Year ROIIC % mean?
A high 3-Year ROIIC % can signal that a stock is expensive relative to its fundamentals. 3-Year ROIIC % measures the change in earnings as a percentage of change in investment over 3-year. View historical data on Elevance Health and its competitors. Elevance Health's current 3-Year ROIIC % is 1.91, which is 76% below median its own 10-year median of 7.91. 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 (ELV) is currently considered Modestly Undervalued. The stock's GF Value™ is $507.80, compared to a current price of $416.23 — trading 18% below its estimated fair value. The current 3-Year ROIIC % is 1.91, which is 76% below median its 10-year median of 7.91. Elevance Health's overall GF Score™ is 88/100 with 8 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is 3-Year ROIIC % calculated?
3-Year ROIIC % is calculated from a company's financial statements. For Elevance Health (ELV), the current 3-Year ROIIC % is 1.91 as of Dec. 2025. 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 (ELV) Overvalued in 2026?
Based on GuruFocus' analysis, Elevance Health stock appears to be undervalued.
The current stock price of $416.23 is trading 18% below its estimated GF Value™ of $507.80.
GuruFocus considers Elevance Health to be Modestly Undervalued.
Key valuation signals for ELV:
3-Year ROIIC %: 1.91 (76% below median its 10-year median of 7.91)
GF Value™: $507.80 vs. price of $416.23 (18% below fair value)
No single metric tells the full story. See the 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.
88GF Score
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