Which has the lower trailing P/E, ELV or MDT?

ELV has the lower trailing P/E: ELV trades at 18.61 and MDT at 22.40. P/E is one valuation measure and does not by itself establish which business is cheaper.

Which has grown faster, ELV or MDT?

Over the past five years, ELV grew revenue faster — ELV at a 9.25% CAGR versus MDT at 3.51%.

Does ELV or MDT pay a bigger dividend?

ELV yields 1.65% and MDT yields 3.11% based on trailing dividends and the latest price.

Is ELV or MDT more profitable?

MDT runs the higher net margin — ELV at 2.47% versus MDT at 13.93%.

How have ELV and MDT total returns compared?

Over the past 10 years, ELV delivered 14.18% and MDT delivered 3.48% annualized total return. Past performance doesn't predict future results.

Elevance Health Inc. (ELV) vs Medtronic plc (MDT)

A side-by-side comparison of Elevance Health Inc. and Medtronic plc across valuation, profitability, dividends, and growth — built entirely from reported fundamentals, as of September 11, 2026. Differences are shown without an overall score or investment verdict.

ELV

Elevance Health Inc.

$90.81B

$418.72HealthcareDelayed quote: Sep 11, 2026, 4:00 PM EDT

MDT

Medtronic plc

$116.43B

$90.96HealthcareDelayed quote: Sep 11, 2026, 4:00 PM EDT

Total return — ELV vs MDT

growth of $100 · dividends reinvested · last 10y

ELV +284.4% (+14.4%/yr)MDT +37.1% (+3.2%/yr)ELV compounded faster over this window

ELV MDT

ELV vs MDT: by the numbers

•MDT is the larger company ($116.43B vs $90.81B market cap).
•ELV trades at the lower trailing earnings multiple (18.61 vs 22.40 P/E), one valuation lens rather than an overall verdict.
•MDT converts more revenue to profit (13.93% vs 2.47% net margin).
•ELV grew revenue faster over the past five years (9.25% vs 3.51% CAGR).
•MDT pays the higher dividend yield (3.11% vs 1.65%).

Metrics side by side

Valuation

Metric	ELV	MDT
P/E ratio	18.61	22.40
Forward P/E	15.42	15.23
P/S ratio	0.45	3.10
P/B ratio	2.02	2.32
EV / EBITDA	13.82	14.83
FCF yield	6.93%	5.27%

Profitability

Metric	ELV	MDT
Gross margin	25.56%	66.69%
Operating margin	3.51%	18.08%
Net margin	2.47%	13.93%
ROE	11.06%	10.41%
ROIC	6.34%	6.44%

Dividends

Metric	ELV	MDT
Dividend yield	1.65%	3.11%
Payout ratio	30.49%	70.20%

Growth (annualized)

Metric	ELV	MDT
Revenue CAGR (5Y)	9.25%	3.51%
EPS CAGR (5Y)	6.67%	6.97%
FCF CAGR (5Y)	-19.97%	0.93%
Total return CAGR (5Y)	4.62%	-3.96%

Frequently asked

Which has the lower trailing P/E, ELV or MDT?: ELV has the lower trailing P/E: ELV trades at 18.61 and MDT at 22.40. P/E is one valuation measure and does not by itself establish which business is cheaper.
Which has grown faster, ELV or MDT?: Over the past five years, ELV grew revenue faster — ELV at a 9.25% CAGR versus MDT at 3.51%.
Does ELV or MDT pay a bigger dividend?: ELV yields 1.65% and MDT yields 3.11% based on trailing dividends and the latest price.
Is ELV or MDT more profitable?: MDT runs the higher net margin — ELV at 2.47% versus MDT at 13.93%.
How have ELV and MDT total returns compared?: Over the past 10 years, ELV delivered 14.18% and MDT delivered 3.48% annualized total return. Past performance doesn't predict future results.

Go deeper

Full ELV analysis Full MDT analysis Interactive comparison tool

Dig into the metrics

Elevance Health P/E ratio Medtronic P/E ratio Elevance Health dividend yield Medtronic dividend yield Elevance Health ROE Medtronic ROE Elevance Health operating margin Medtronic operating margin Elevance Health revenue growth Medtronic revenue growth Elevance Health free cash flow Medtronic free cash flow

Elevance Health & Medtronic appear in these rankings

Highest Dividend Yield Stocks 25+ Year Dividend Growers Highest FCF Yield Stocks Highest 10-Year Total Return Stocks

Figures are sourced from reported fundamentals and the latest end-of-day price. This comparison is informational only and is not investment advice. Past performance does not predict future results. See our methodology. Compiled by TGMCharts Research · data verified September 11, 2026.