Is ELV (Elevance Health Inc.) Halal or Haram?

Based on our AAOIFI-standard shariah screening, ELV is classified as Doubtful. It passed 3 of 4 compliance screens. Some scholars may permit investing with income purification, while others advise avoiding it. We recommend consulting a qualified Islamic scholar before investing in ELV.

Elevance Health Inc., formerly known as Anthem, is a major health benefits company serving approximately 118 million people. It provides a comprehensive portfolio of medical, digital, pharmacy, and behavioral care solutions designed to connect consumers with essential healthcare resources. For Muslim investors relying on HalalStocks.co.uk, Elevance Health currently holds a Doubtful shariah compliance status. Although its core healthcare services easily pass the business activity screen, the company fails to meet the strict AAOIFI financial thresholds regarding conventional debt. The primary concern from an Islamic finance perspective is the company's Debt to Market Cap ratio, which sits at an elevated 41.5%, breaching the strict 33% limit. On a positive note, Elevance Health maintains a perfect Interest Income to Revenue ratio of 0.00% and a safe Cash to Market Cap ratio of 11.8%. Since the compliance failure is purely financial rather than operational, halal investors should monitor Elevance Health's balance sheet in future quarters. If the company actively reduces its debt load or its market capitalization increases sufficiently, it could return to a fully shariah-compliant status. Elevance Health Inc. operates in the Healthcare sector under the Medical - Healthcare Plans industry and is headquartered in Indianapolis, IN, US. The company is led by CEO Gail Koziara Boudreaux and employs approximately 104,200 people.

ELV was screened using AAOIFI-based shariah compliance criteria. Four tests are applied: (1) Business Activity — the company's core business must not derive primary income from haram (prohibited) activities such as alcohol, gambling, tobacco, or interest-based finance. (2) Debt-to-Market-Cap — total debt must not exceed 33% of market capitalization. (3) Interest Income — interest income must not exceed 5% of total revenue. (4) Cash & Securities — cash and interest-bearing securities must not exceed 33% of market cap. ELV passed 3 of these 4 screens.

ELV was last screened on 2026-04-29. Shariah compliance status can change as companies report new financial data, acquire new businesses, or shift revenue streams. We recommend checking back periodically for the most up-to-date screening results.