Elevance Health Q3 FY25: where the revenue came from and where it went
The whole income statement of Elevance Health for this quarter, as one diagram: what earned the revenue, and what it went on.
- Period
- Jul 1 – Sep 30, 2025
- Reported
- Oct 21, 2025
Revenue$50.71B
+12% year over year
Gross profit$45.33B
89% margin
Operating profit$1.30B
3% margin
Net profit$1.19B
2% margin
The numbers
| Item | Value | Share of revenue | Year over year |
|---|---|---|---|
| Revenue | 50.71 | 100% | +12% |
| Health benefits | 42.25 | 83% | |
| Carelon services | 7.32 | 15% | |
| Other revenue | 0.99 | 2% | |
| Corporate & other | 0.15 | 0% | |
| Cost of revenue | −5.38 | 11% | |
| Gross profit | 45.33 | 89% margin | +1pp |
| SG&A | −5.27 | 10% | −1pp |
| Other | −38.76 | 77% | +0pp |
| Operating profit | 1.30 | 3% margin | −1pp |
| Other income, net | 0.11 | ||
| Tax | −0.22 | ||
| Net profit | 1.19 | 2% margin | +0pp |
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