FINHUB Insights

ELV · Q3 FY25 · Sep 30, 2025

Elevance Health Q3 FY25: where the revenue came from and where it went

Elevance Health Q3 FY25: revenue $50.7B (+12% year over year). Net profit $1.2B. Largest cohort Health Benefits $42.2B. The whole income statement as a sankey diagram from the SEC filing.

Period
Sep 30, 2025
Reported
Oct 21, 2025 10-Q
Sankey diagram of Elevance Health's income statement for Q3 FY25: revenue of $50.7 billion splits into segments and flows out into costs, taxes and net profit.

Tap the diagram to enlarge · figures in billions of dollars

Revenue$50.7B +12% year over year
Gross profit$45.3B 89% margin
Operating profit$1.3B 3% margin
Net profit$1.2B 2% margin

The numbers

All figures in billions of U.S. dollars, for Q3 FY25 (period ends Sep 30, 2025).
ItemValueShare of revenueYear over year
Revenue 50.7 100% +12%
Health Benefits 42.2 83%
Carelon Services 7.3 14%
Other 1 2%
Corporate & Other 0.1 0%
Cost of revenue−5.411%
Gross profit45.389% margin+1pp
SG&A−5.310%−1pp
Other−38.876%+0pp
Operating profit1.33% margin−1pp
Tax−0.2
Net profit1.22%+0pp
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.

Older quarters