The Projection — a symmetric watercolor butterfly

The Projection

The surface is never the system.

← Elevance Health

Capital · deployed

~$1.1B capex + ~$2.6B buybacks committed FY25; near-zero M&A (~$88M) — capital held back during the margin shock

high confidence · as of 2026-07-26 · about Elevance Health

Sourced figures 1


the working

Threads 1

A claim is one metric we assert about a node — the value is the summary, this page is the receipt. Sourced from kestrel; supersedes-history not yet shown. Back to Elevance Health.