Elevance Health, Inc.

NYSE:ELV Stock Report

Market Cap: US$91.4b

Elevance Health Valuation

Is ELV undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

6/6

Valuation Score 6/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of ELV when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: ELV ($397.48) is trading below our estimate of fair value ($1506.38)

Significantly Below Fair Value: ELV is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for ELV?

Key metric: As ELV is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for ELV. This is calculated by dividing ELV's market cap by their current earnings.
What is ELV's PE Ratio?
PE Ratio14.4x
EarningsUS$6.42b
Market CapUS$91.42b

Price to Earnings Ratio vs Peers

How does ELV's PE Ratio compare to its peers?

The above table shows the PE ratio for ELV vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average22.3x
HUM Humana
26x11.6%US$33.4b
CNC Centene
9.7x4.9%US$29.2b
MOH Molina Healthcare
14.7x14.8%US$16.2b
UNH UnitedHealth Group
38.6x24.6%US$531.0b
ELV Elevance Health
14.4x12.7%US$91.4b

Price-To-Earnings vs Peers: ELV is good value based on its Price-To-Earnings Ratio (14.4x) compared to the peer average (22.3x).

Price to Earnings Ratio vs Industry

How does ELV's PE Ratio compare vs other companies in the US Healthcare Industry?

5 CompaniesPrice / EarningsEstimated GrowthMarket Cap
THC Tenet Healthcare
4.6x-39.2%US$14.58b
NEUE NeueHealth
1.5xn/aUS$40.77m
AMS American Shared Hospital Services
4.9xn/aUS$19.08m
IDXG Interpace Biosciences
2.4xn/aUS$11.77m
ELV 14.4xIndustry Avg. 25.8xNo. of Companies11PE020406080100+
5 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: ELV is good value based on its Price-To-Earnings Ratio (14.4x) compared to the US Healthcare industry average (25.8x).

Price to Earnings Ratio vs Fair Ratio

What is ELV's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

ELV PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio14.4x
Fair PE Ratio37x

Price-To-Earnings vs Fair Ratio: ELV is good value based on its Price-To-Earnings Ratio (14.4x) compared to the estimated Fair Price-To-Earnings Ratio (37x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst ELV forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$397.48
US$520.12
+30.9%
7.5%US$625.00US$465.00n/a19
Nov ’25US$414.01
US$530.12
+28.0%
8.1%US$625.00US$465.00n/a19
Oct ’25US$511.26
US$603.07
+18.0%
5.1%US$665.00US$550.00n/a19
Sep ’25US$556.89
US$600.44
+7.8%
5.7%US$665.00US$530.00n/a19
Aug ’25US$532.23
US$600.44
+12.8%
5.7%US$665.00US$530.00n/a19
Jul ’25US$534.55
US$608.98
+13.9%
5.3%US$665.00US$520.00n/a20
Jun ’25US$538.48
US$605.87
+12.5%
5.2%US$665.00US$520.00n/a19
May ’25US$524.84
US$599.48
+14.2%
5.6%US$665.00US$520.00n/a19
Apr ’25US$516.00
US$574.37
+11.3%
4.2%US$629.00US$520.00n/a19
Mar ’25US$499.11
US$572.18
+14.6%
4.2%US$629.00US$520.00n/a17
Feb ’25US$495.43
US$567.53
+14.6%
4.3%US$629.00US$520.00n/a16
Jan ’25US$471.56
US$562.91
+19.4%
4.1%US$629.00US$520.00n/a17
Dec ’24US$483.12
US$565.26
+17.0%
4.7%US$629.00US$520.00n/a17
Nov ’24US$446.66
US$566.26
+26.8%
4.6%US$629.00US$520.00US$414.0117
Oct ’24US$435.42
US$570.16
+30.9%
4.3%US$629.00US$520.00US$511.2619
Sep ’24US$442.38
US$571.10
+29.1%
4.3%US$629.00US$520.00US$556.8920
Aug ’24US$467.98
US$569.40
+21.7%
4.5%US$629.00US$520.00US$532.2320
Jul ’24US$444.29
US$560.18
+26.1%
8.1%US$620.00US$400.00US$534.5522
Jun ’24US$464.43
US$563.41
+21.3%
7.7%US$620.00US$400.00US$538.4822
May ’24US$472.28
US$562.72
+19.2%
7.8%US$620.00US$400.00US$524.8422
Apr ’24US$459.81
US$562.72
+22.4%
8.7%US$620.00US$400.00US$516.0022
Mar ’24US$469.03
US$567.43
+21.0%
9.1%US$620.00US$400.00US$499.1121
Feb ’24US$498.77
US$567.90
+13.9%
9.2%US$620.00US$400.00US$495.4321
Jan ’24US$512.97
US$564.95
+10.1%
7.0%US$640.00US$478.00US$471.5620
Dec ’23US$525.25
US$562.70
+7.1%
6.7%US$640.00US$478.00US$483.1220
Nov ’23US$544.53
US$561.20
+3.1%
6.7%US$640.00US$478.00US$446.6620

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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