Elevance Health, Inc. ELV

Revenue Intelligence Report • 70 quarters of SEC filing data • Updated 2026-03-06

Elevance Health, Inc. has demonstrated a strong correlation between its SG&A spending and revenue growth, with a 1% increase in SG&A resulting in a 1.44% rise in revenue, highlighting the effectiveness of its investment strategy. The company's latest quarterly revenue of $49.7 billion reflects its robust operational model, and despite a slight prediction error in its holdout test, the overall model accuracy remains solid at 2.7% MAPE. Looking ahead, the forecast for fiscal year revenue is projected at $209 billion, representing a 4.9% year-over-year growth, indicating a positive outlook for continued revenue expansion driven by strategic spending.

Next FY Revenue

$208.92B

+4.9% YoY

SG&A Elasticity

1.44x

Model Accuracy

2.7% MAPE

Holdout validation: The model predicted $51B vs the actual $50B — an error of 2.8%.

Note: Elevance Health, Inc. does not report R&D expenses separately. This analysis uses SG&A spending only.

Revenue Forecast

Quarterly Detail

Quarter	Model Forecast	Actual	95% Range	YoY Growth	Status
Q4 2025	$51B	$50B	$47B – $56B	+12.5%	✓ In range
Q2 2026	$52B		$46B – $58B	+5.5%
Q3 2026	$52B		$45B – $61B	+4.5%
Q4 2026	$52B		$44B – $62B	+3.4%
Q1 2027	$53B		$43B – $64B	+6.3%

How Spending Drives Revenue

Reading this chart: Each line shows the cumulative elasticity — how a 1% increase in spending translates to revenue growth over subsequent quarters. The effect builds over 4-5 quarters as investments compound.

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