revenue growth
-6–-4 pct
Q4 2024
official guidance
ELEVANCE HEALTH, INC.
Last · —$428.10+2.69 (+0.63%)live · yahoo · 1s ago
Market cap$93.28B—
P/E · TTM18.9fwd — · eps —
Beta—vs S&P 500
Div yield—annual · TTM
52w range
——
Volume—session
| Revenue | $201.1B |
|---|---|
| Operating income | $5.5B |
| Net income | $5.0B |
| Free cash flow | $6.3B |
| Operating margin | 2.7% |
| Net margin | 2.5% |
| Return on equity | 11.1% |
| Period | TTM 2026-06-30 |
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OpenFilings analyst
Our analyst
Agentic read of the latest earnings call — recommendation updates when we process a new transcript. Research synthesis, not investment advice.
Strong BuyBuyHoldSellStrong Sell
Strong cash generation and margins are offset by weakening demand and elevated execution risk.
J.Jill delivered a resilient but not compelling quarter:
Q3 sales rose 0.3% to about $151 million, while comps fell 0.8%, gross margin was 71.4%, and adjusted EBITDA declined to $26.8 million from $28.6 million. Management tightened FY2024 adjusted EBITDA guidance to $105-$107 million, with Q4 EBITDA of only $12-$14 million; the $25 million buyback and $39 million of cash provide support, but softer full-price demand, CEO succession and holiday margin pressure argue for waiting.
Themes
- Full Price Demand
- Holiday Margin Pressure
- Store Expansion
- Omnichannel
- Oms Implementation
- Ceo Succession
Near term
Q4 comps are guided up 1%-3% excluding the 53rd week, but reported sales are expected to decline 4%-6% because of the calendar shift and prior-year extra week.
Holiday gross margin is expected to face greater pressure from elevated freight costs, markdowns and promotions.
The shortened holiday calendar and consumers’ continued price sensitivity—especially in the direct channel—remain the key near-term demand risks.
The $25 million repurchase authorization and planned FY2024 net addition of four stores may provide stock and sentiment support.
Longer term
Store expansion is expected to ramp toward 20-25 net new stores over the next several years and up to 50 over five years; management cites payback periods of just under three years and cash-on-cash returns above 30%.
The new order management system is expected to come online in fiscal 2025 and could improve omnichannel capabilities, though it is already adding about $2 million of FY2024 operating expense.
The best customer cohort continues to outperform, but the overall customer file contracted slightly, raising questions about the breadth of brand growth.
The brand’s margin model remains strong, but sustained reliance on promotions in direct sales could weaken the full-price recovery and limit earnings growth.
Red flags
Management acknowledged that the strong May-June full-price customer profile has not returned; the Q4 guide assumes current trends continue rather than a clear demand recovery.
CEO Claire Spofford plans to retire next year, and the successor search is ongoing, creating leadership-transition risk during a planned growth and modernization phase.
Management offered no quantified mitigation plan for potentially broad tariffs; it said impacts could require vendor negotiations, price reviews and company absorption.
Reported inventory was up 9% year over year, although management characterized normalized inventory as flat, and holiday freight and markdown pressure remain unresolved.
Forward outlook
adjusted eps
12–14 $per share
Q4 2024
official guidance
revenue growth
0–1 pct
FY 2024
official guidance
ebitda
105–107 $million
FY 2024
official guidance
Recommendation history
OpenFilings analyst view from primary-source filings and earnings calls — not investment advice.
From latest 10-K · 2026-02-06
- Medical Cost Trends
- Medicaid Redeterminations
- Aca Subsidy Risk
- Carelonrx Cvs Dependence
- Regional Concentration
- Debt Load
- Cybersecurity
Red flags
- Medical-cost forecasting is highly sensitive: the company states that even slight differences between predicted and actual medical costs or utilization as a percentage of premium revenue can significantly change results.
- Medicaid cost trends remain elevated because of higher population acuity and utilization, while ACA membership shifts after redeterminations have driven elevated morbidity.
- Long-term debt was $31.896 billion at December 31, 2025, up from $30.867 billion in 2024; $1.099 billion was classified as current.
- Business exposure is regionally concentrated across eight named states, increasing sensitivity to local economic, procurement, eligibility and healthcare-policy changes.
- Cyber incidents affecting Elevance or third-party providers could expose sensitive health information, disrupt operations and trigger regulatory, litigation and remediation costs; the filing provides no quantified loss estimate.
Upcoming earnings
2:30 PM UTC+2
Period
Sep 2026
Est. EPS
$4.69
Est. revenue
49.2B
Documents
FormReporting forFiledFlags