Elevance Health (ELV) vs UnitedHealth Group (UNH)
Head-to-head comparison of performance, valuation, growth, profitability and dividends. Prices delayed 15 minutes; data as of Oct 9, 2026.
Summary
Elevance Health (ELV) has outperformed UnitedHealth Group (UNH) over the past year, gaining 10.7% versus a gain of 0.3%. Over five years, ELV leads with a +2.0% price change compared with -13.3% for UNH. UnitedHealth Group is the larger company by market cap ($336.99 billion vs $89.71 billion), about 3.8 times the size, while Elevance Health is growing revenue faster (+12.5% vs +11.8%).
On valuation, Elevance Health trades at a lower forward P/E (14.0x vs 16.6x for UnitedHealth Group). UnitedHealth Group offers the higher dividend yield (2.38% vs 1.66%). Elevance Health converts more of its revenue into profit, with a net margin of 2.8% versus 2.7%.
Summary generated from market data by MetaCap's automated system. Methodology
Relative performance
Percent change in share price from the first common trading day shown; excludes dividends.
Head-to-head
| Metric | ELV | UNH |
|---|---|---|
| Share price | $413.67 | $375.44 |
| Market cap | $89.71B | $336.99B |
| 1-day change | +3.17% | +1.21% |
| YTD return | +14.37% | +12.37% |
| 1-year return | +10.65% | +0.28% |
| 5-year return | +2.01% | -13.34% |
| P/E ratio (TTM) | 18.31 | 24.14 |
| Forward P/E | 13.98 | 16.60 |
| EPS (TTM) | $22.59 | $15.55 |
| Dividend yield | 1.66% | 2.38% |
| Annual dividend | $6.86 | $8.95 |
| Revenue (latest FY) | $199.13B | $447.57B |
| Revenue growth (YoY) | +12.49% | +11.81% |
| Net income (latest FY) | $5.66B | $12.06B |
| Gross margin | 89.36% | 88.68% |
| Operating margin | 3.62% | 4.24% |
| Net margin | 2.84% | 2.69% |
| 52-week high | $436.24 | $461.62 |
| 52-week low | $274.84 | $255.97 |
| Distance from 52-week high | -5.17% | -18.67% |
| Analyst consensus | buy | buy |
| Avg. price target upside | +9.14% | +28.31% |
| Average volume | 1.19M | 4.94M |
| Shares outstanding | 216.87M | 897.59M |
| Employees | 96,129 | 390,000 |
| Sector | Health Care | Health Care |
| Industry | Medical Specialities | Medical Specialities |
Highlighted cells mark the higher value for growth, returns, margins and yield, and the lower value for P/E ratios. Highlighting is a mechanical comparison, not a recommendation.
Key differences
- UnitedHealth Group is about 3.8 times larger than Elevance Health by market value ($336.99B vs $89.71B).
- ELV has outperformed UNH by 10.4 percentage points over the past year.
- UnitedHealth Group trades at a higher earnings multiple (24.1x vs 18.3x trailing P/E).
About Elevance Health
ELV stock →Elevance Health, Inc., together with its subsidiaries, operates as a health benefits company in the United States. The company operates in four segments: Health Benefits, CarelonRx, Carelon Services, and Corporate & Other.
Health Care · Medical Specialities · 96,129 employees
About UnitedHealth Group
UNH stock →UnitedHealth Group Incorporated operates as a health care company in the United States and internationally. It operates through four segments: Optum Health, Optum Insight, Optum Rx; and UnitedHealthcare.
Health Care · Medical Specialities · 390,000 employees
ELV vs UNH FAQ
Which is bigger, Elevance Health or UnitedHealth Group?
UnitedHealth Group (UNH) is larger, with a market capitalization of $336.99B compared with $89.71B for Elevance Health (ELV).
Which stock has performed better over the past year, ELV or UNH?
ELV returned +10.65% over the past 12 months, compared with +0.28% for UNH (price return, excluding dividends). Past performance does not predict future results.
Which has the lower P/E ratio, ELV or UNH?
ELV has the lower trailing P/E at 18.3, versus 24.1 for UNH. A lower P/E is not by itself a sign of a better investment; it can reflect slower expected growth or higher risk.
Which pays a higher dividend, Elevance Health or UnitedHealth Group?
UnitedHealth Group has the higher yield at 2.38%, compared with 1.66% for Elevance Health.
Are Elevance Health and UnitedHealth Group in the same industry?
Yes. Both are classified in the Medical Specialities industry within the Health Care sector.