FINHUB Insights

ELV · Q2 FY25 · Apr 1 – Jun 30, 2025

Elevance Health Q2 FY25: where the revenue came from and where it went

Elevance Health Q2 FY25: revenue $49.8B (+13% year over year). Net profit $1.7B. Largest cohort Health benefits $41.6B. The whole income statement as a sankey diagram from the SEC filing.

Period
Apr 1 – Jun 30, 2025
Reported
Jul 17, 2025 10-Q
Sankey diagram of Elevance Health's income statement for Q2 FY25: revenue of $49.78 billion splits into segments and flows out into costs, taxes and net profit.

Tap the diagram to enlarge · figures in billions of dollars

Revenue$49.78B +13% year over year
Gross profit$44.48B 89% margin
Operating profit$2.43B 5% margin
Net profit$1.74B 4% margin

The numbers

All figures in billions of U.S. dollars, for Q2 FY25 (period ends Jun 30, 2025).
ItemValueShare of revenueYear over year
Revenue 49.78 100% +13%
Health benefits 41.58 84%
Carelon services 7.44 15%
Other 0.52 1%
Corporate & other 0.23 0%
Cost of revenue−5.2911%
Gross profit44.4889% margin+0pp
SG&A−5.0010%−2pp
Other−37.0674%+0pp
Operating profit2.435% margin−1pp
Tax−0.55
Interest & other costs−0.13
Net profit1.744%−2pp
Filing on EDGAR More quarters of ELV

Source of the numbers: tables in the filing (10-Q). The diagram is generated automatically and checked against EDGAR before release. How we calculate it → About and methodology.