FINHUB Insights

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 10-Q accession 0001156039-25-000136

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
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The numbers

All figures in billions of U.S. dollars, for Q3 FY25 (period ends Sep 30, 2025).
ItemValueShare of revenueYear 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−5.3811%
Gross profit45.3389% margin+1pp
SG&A−5.2710%−1pp
Other−38.7677%+0pp
Operating profit1.303% margin−1pp
Other income, net0.11
Tax−0.22
Net profit1.19 2% margin+0pp

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.

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