Elevance Health
Elevance Health returns on capital
Annual and trailing 12-month returns on invested capital, equity and assets.
ROIC
% · Annual / TTM
Not applicable to banks and insurers: these ratios use an industrial-company capital model.
ROCE
% · Annual / TTM
Not applicable to banks and insurers: these ratios use an industrial-company capital model.
ROIIC
% · Annual / TTM
Not applicable to banks and insurers: these ratios use an industrial-company capital model.
ROE
% · Annual / TTM
ROA
% · Annual / TTM
ROIC − WACC
Percentage points · Scenario
Not applicable to banks and insurers: these ratios use an industrial-company capital model.
Quarterly data
| Fiscal period | Ended | ROIC% | ROCE% | ROIIC% | ROE% | ROA% | ROIC − WACCPercentage points |
|---|---|---|---|---|---|---|---|
| FY 2026 Q2 | Jun 30, 2026 | — | — | — | 11.2% | 4% | — |
| FY 2026 Q1 | Mar 31, 2026 | — | — | — | 12.14% | 4.27% | — |
| FY 2025 Q4 | Dec 31, 2025 | — | — | — | 13.29% | 4.75% | — |
| FY 2025 Q3 | Sep 30, 2025 | — | — | — | 12.61% | 4.62% | — |
| FY 2025 Q2 | Jun 30, 2025 | — | — | — | 12.48% | 4.56% | — |
| FY 2025 Q1 | Mar 31, 2025 | — | — | — | 14.24% | 5.11% | — |
| FY 2024 Q4 | Dec 31, 2024 | — | — | — | 14.83% | 5.3% | — |
| FY 2024 Q3 | Sep 30, 2024 | — | — | — | 15.62% | 5.65% | — |
| FY 2024 Q2 | Jun 30, 2024 | — | — | — | 16.65% | 6.02% | — |
| FY 2024 Q1 | Mar 31, 2024 | — | — | — | 16.02% | 5.65% | — |
| FY 2023 Q4 | Dec 31, 2023 | — | — | — | 15.84% | 5.66% | — |
| FY 2023 Q3 | Sep 30, 2023 | — | — | — | 16.34% | 5.7% | — |
| FY 2023 Q2 | Jun 30, 2023 | — | — | — | 17.32% | 6.1% | — |
| FY 2023 Q1 | Mar 31, 2023 | — | — | — | 16.93% | 5.93% | — |
| FY 2022 Q4 | Dec 31, 2022 | — | — | — | 16.65% | 6.02% | — |
| FY 2022 Q3 | Sep 30, 2022 | — | — | — | 17.32% | 6.18% | — |
| FY 2022 Q2 | Jun 30, 2022 | — | — | — | 17.25% | 6.2% | — |
| FY 2022 Q1 | Mar 31, 2022 | — | — | — | 17.88% | 6.37% | — |
| FY 2021 Q4 | Dec 31, 2021 | — | — | — | 17.63% | 6.63% | — |
| FY 2021 Q3 | Sep 30, 2021 | — | — | — | 15.84% | 5.98% | — |
| FY 2021 Q2 | Jun 30, 2021 | — | — | — | 12.19% | 4.6% | — |
| FY 2021 Q1 | Mar 31, 2021 | — | — | — | 14.38% | 5.29% | — |
| FY 2020 Q4 | Dec 31, 2020 | — | — | — | 14.08% | 5.57% | — |
| FY 2020 Q3 | Sep 30, 2020 | — | — | — | 15.19% | 6.03% | — |
| FY 2020 Q2 | Jun 30, 2020 | — | — | — | 18.13% | 7.22% | — |
| FY 2020 Q1 | Mar 31, 2020 | — | — | — | 15.49% | 6.09% | — |
| FY 2019 Q4 | Dec 31, 2019 | — | — | — | 15.95% | 6.45% | — |
| FY 2019 Q3 | Sep 30, 2019 | — | — | — | 14.22% | 5.64% | — |
| FY 2019 Q2 | Jun 30, 2019 | — | — | — | 13.69% | 5.42% | — |
| FY 2019 Q1 | Mar 31, 2019 | — | — | — | 13.99% | 5.4% | — |
| FY 2018 Q4 | Dec 31, 2018 | — | — | — | 13.63% | 5.28% | — |
| FY 2018 Q3 | Sep 30, 2018 | — | — | — | 16.56% | 6.38% | — |
| FY 2018 Q2 | Jun 30, 2018 | — | — | — | 15.75% | 6.09% | — |
| FY 2018 Q1 | Mar 31, 2018 | — | — | — | 15.61% | 5.83% | — |
| FY 2017 Q4 | Dec 31, 2017 | — | — | — | 14.89% | 5.67% | — |
| FY 2017 Q3 | Sep 30, 2017 | — | — | — | 11.76% | 4.49% | — |
| FY 2017 Q2 | Jun 30, 2017 | — | — | — | 11.26% | 4.31% | — |
| FY 2017 Q1 | Mar 31, 2017 | — | — | — | 11.19% | 4.18% | — |
| FY 2016 Q4 | Dec 31, 2016 | — | — | — | 10.26% | 3.9% | — |
| FY 2016 Q3 | Sep 30, 2016 | — | — | — | 9.51% | 3.6% | — |
| FY 2016 Q2 | Jun 30, 2016 | — | — | — | 9.81% | 3.61% | — |
| FY 2016 Q1 | Mar 31, 2016 | — | — | — | 10.02% | 3.71% | — |
| FY 2015 Q4 | Dec 31, 2015 | — | — | — | 10.83% | 4.14% | — |
| FY 2015 Q3 | Sep 30, 2015 | — | — | — | 12.14% | 4.64% | — |
| FY 2015 Q2 | Jun 30, 2015 | — | — | — | 12.07% | 4.52% | — |
| FY 2015 Q1 | Mar 31, 2015 | — | — | — | 11.23% | 4.3% | — |
| FY 2014 Q4 | Dec 31, 2014 | — | — | — | 10.49% | 4.23% | — |
| FY 2014 Q3 | Sep 30, 2014 | — | — | — | 9.01% | 3.62% | — |
| FY 2014 Q2 | Jun 30, 2014 | — | — | — | 9.15% | 3.67% | — |
| FY 2014 Q1 | Mar 31, 2014 | — | — | — | 9.48% | 3.81% | — |
| FY 2013 Q4 | Dec 31, 2013 | — | — | — | 10.25% | 4.2% | — |
| FY 2013 Q3 | Sep 30, 2013 | — | — | — | 11.54% | 4.83% | — |
| FY 2013 Q2 | Jun 30, 2013 | — | — | — | 11.79% | 4.98% | — |
| FY 2013 Q1 | Mar 31, 2013 | — | — | — | 11.22% | 4.8% | — |
| FY 2012 Q4 | Dec 31, 2012 | — | — | — | 11.28% | 4.79% | — |
| FY 2012 Q3 | Sep 30, 2012 | — | — | — | 10.63% | 4.66% | — |
| FY 2012 Q2 | Jun 30, 2012 | — | — | — | 10.53% | 4.78% | — |
| FY 2012 Q1 | Mar 31, 2012 | — | — | — | 10.85% | 4.98% | — |
| FY 2011 Q4 | Dec 31, 2011 | — | — | — | 11.24% | 5.18% | — |
| FY 2011 Q3 | Sep 30, 2011 | — | — | — | 11.9% | 5.52% | — |
| FY 2011 Q2 | Jun 30, 2011 | — | — | — | 12.16% | 5.77% | — |
| FY 2011 Q1 | Mar 31, 2011 | — | — | — | 12.11% | 5.75% | — |
| FY 2010 Q4 | Dec 31, 2010 | — | — | — | 11.86% | 5.64% | — |
| FY 2010 Q3 | Sep 30, 2010 | — | — | — | 21.51% | 10.11% | — |
| FY 2010 Q2 | Jun 30, 2010 | — | — | — | 22.03% | 10.19% | — |
| FY 2010 Q1 | Mar 31, 2010 | — | — | — | — | — | — |
| FY 2009 Q4 | Dec 31, 2009 | — | — | — | — | — | — |
| FY 2009 Q3 | Sep 30, 2009 | — | — | — | — | — | — |
| FY 2009 Q2 | Jun 30, 2009 | — | — | — | — | — | — |
Sources and calculations
Financial inputs from company filings. Last checked Oct 18, 2026. A dash means missing inputs or an undefined calculation.
Period changes use the preceding fiscal quarter or year. Percentage changes divide by the absolute prior value; a zero or missing baseline has no percentage change. Percentage metrics show changes in percentage points.
Quarterly returns use trailing 12-month earnings and period-end balances averaged with the same fiscal quarter one year earlier. NOPAT uses the reported effective tax rate only when pretax profit is positive and the rate is between 0 and 100%. WACC starts at 7.7%, rounded from the US nonfinancial market · generic proxy benchmark in NYU Stern · January 2026. It is an editable US sector proxy applied across history, not a company estimate; foreign reporting currencies also need a currency-specific assessment.
Market prices: Yahoo Finance · ELV, USD. Latest completed close Sep 25, 2026. Price data retrieved Sep 28, 2026.
- ROIC
- NOPAT / average invested capital × 100. NOPAT = operating income × (1 − effective tax rate). Invested capital = equity including noncontrolling interests + debt − cash and equivalents. Average uses period end and one year earlier.
- ROCE
- Operating income / average (assets − current liabilities) × 100, using period end and one year earlier.
- ROIIC
- Year-over-year change in annual/TTM NOPAT / positive year-over-year change in invested capital × 100. Capital reductions and missing inputs yield unavailable values.
- ROE
- Earnings attributable to owners / average equity attributable to owners × 100, using period end and one year earlier.
- ROA
- Net income / average total assets × 100, using period end and one year earlier.
- ROIC − WACC
- ROIC less your WACC assumption, in percentage points. The same scenario rate is applied across history; it is not a reported or historical company WACC.