Evolent Health, Inc. EVH R2K

Healthcare · Health Information Services · United States

https://www.evolent.com

Evolent Health, Inc., through its subsidiary, provides specialty care management services in oncology, cardiology, and musculoskeletal markets in the United States. The company offers integrated value-based care platform for health plan administration and management. It also provides administrative services, such as health plan services, pharmacy benefits management, risk management, analytics and reporting, and leadership and management; and Identifi, a proprietary technology system that aggregates and analyzes data, manages care workflows, and engages patients. In addition, the company provides Machinify Auth Intelligence, an artificial intelligence tool to aid nurses and physicians in completing clinical review of prior authorization requests. Evolent Health, Inc. was founded in 2011 and is headquartered in Arlington, Virginia.

Market & Price

Market Cap

$444.30M

Current Price

$3.95

High / Low (52W)

$11.79 / $2.17

Beta

0.83

Valuation

Stock P/E

Industry PE

23.65

Forward P/E

9.78

PEG Ratio

1.93

Book Value

$3.52

Price to Book

1.12

P/S

0.24

EV/EBITDA

17.32

Dividend Yield

Profitability & Returns

ROCE

-31.52%

ROE

-65.11%

ROA

-0.45%

Profit Margin

-26.29%

Op Margin

-2.04%

EPS (Latest Qtr)

$-0.24

EPS (TTM)

$-4.68

Balance Sheet & Liquidity

Debt/Equity

2.49

Quick Ratio

1.20

Current Ratio

1.32

Debt

$985.43M

Total Assets

$1.90B

Current Assets

$506.37M

Working Capital

$121.11M

Ownership

Promoter Holding

1.64%

Chg in Prom Hold

FII / Inst Holding

100.95%

Chg in FII Hold

Financial Snapshot

Enterprise Value

$1.29B

Total Revenue (TTM)

$1.89B

EBITDA

$74.36M

Free Cash Flow

$52.93M

Operating Cash Flow

$33.29M

Shares Outstanding

112.48M

Gross Margin

20.18%

Payout Ratio

0.00%

Growth (CAGR)

Revenue 5Y

11.54%

Profit 5Y

-896.38%

Revenue (YoY)

2.60%

Earnings (YoY)

PROS

Compounding revenue at 11.5% over 5 years.
Generates positive free cash flow.

CONS

Earnings shrank at -896.4% CAGR over 5 years.
Trading 66.5% below its 52-week high.
In a downtrend (50-DMA below 200-DMA).

* The pros and cons are auto-generated from financial metrics.

Price Chart

Robinhood TradingView StockAnalysis

Fundamental Growth

Period: Metric:

Figures from the latest reported periods. CAGR is computed across the displayed window (quarterly CAGR is annualised assuming 4 quarters per year).

Peer comparison

Peer companies in the same sector (Healthcare).

#	Name	CMP $	P/E	Mkt Cap	Div Yld %	ROCE %	ROE %	Rev CAGR 5Y %	Profit CAGR 5Y %
1	EVH Evolent Health, Inc. R2K	3.95	-	$444.30M	-	-31.52%	-65.11%	11.54%	-896.38%
2	LLY Eli Lilly and Company SPX	1,105.00	39.21	$985.37B	0.63%	38.44%	107.46%	31.69%	48.96%
3	JNJ Johnson & Johnson SPX	225.33	26.11	$542.42B	2.38%	23.13%	26.42%	5.60%	14.32%
4	UNH UnitedHealth Group Incorporated SPX	380.31	28.66	$345.38B	2.32%	9.60%	12.18%	11.35%	-15.69%
5	MRK Merck & Co., Inc. SPX	118.72	33.44	$293.22B	2.86%	20.66%	18.94%	3.12%	7.93%
6	TMO Thermo Fisher Scientific Inc. SPX	492.51	27.11	$183.03B	0.38%	9.17%	13.52%	-0.27%	-1.19%
7	AMGN Amgen Inc. NDXSPX	336.79	23.42	$181.77B	2.99%	18.02%	101.32%	11.77%	5.58%
8	GILD Gilead Sciences, Inc. NDXSPX	134.43	18.29	$166.90B	2.44%	22.92%	43.36%	2.57%	22.83%
9	ISRG Intuitive Surgical, Inc. NDXSPXAI	424.64	51.53	$150.39B	-	15.96%	17.23%	17.39%	29.26%

Quarterly Results

Figures in USD.

Metric	Mar 2016	Jun 2016	Sep 2016	Dec 2016	Mar 2017	Jun 2017	Sep 2017	Dec 2017	Mar 2018	Jun 2018	Sep 2018	Dec 2018	Mar 2019	Jun 2019	Sep 2019	Dec 2019	Mar 2020	Jun 2020	Sep 2020	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
Revenue	-	-	-	-	106.24M	107.07M	107.91M	113.73M	139.71M	144.30M	149.95M	193.10M	197.76M	191.96M	220.14M	236.53M	247.28M	238.63M	264.59M	271.92M	215.07M	222.06M	222.47M	297.06M	319.94M	352.58M	-	427.69M	469.14M	511.01M	556.05M	639.65M	647.14M	-	-	483.65M	444.33M	479.53M	468.72M	496.25M
Cost of Revenue	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	381.18M	343.94M	379.76M	371.47M	412.47M
Gross Profit	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	102.47M	100.39M	99.77M	97.25M	83.77M
Operating Expenses	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	102.47M	98.35M	101.21M	117.69M	94.37M
Operating Income	-175.08M	-12.63M	-15.84M	-	-21.45M	-19.12M	-14.02M	-	-14.13M	-8.97M	-11.03M	-	-46.65M	-25.23M	-20.14M	-	-25.09M	-225.83M	-16.45M	-	-15.95M	-7.67M	-6.58M	-2.80M	-4.63M	12.95M	-	-10.36M	-21.57M	-17.94M	-	-13.41M	7.79M	-	-	4.00K	2.04M	-1.43M	-20.44M	-10.60M
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-28.70M	12.77M	17.77M	-362.00M	12.70M
Interest Expense	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	10.38M	10.35M	14.12M	23.77M	16.87M
Pretax Income	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-63.15M	-20.72M	-19.96M	-430.81M	-25.72M
Tax Provision	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1.47M	-825.00K	906.00K	-1.68M	910.00K
Net Income	-122.74M	-8.39M	-11.21M	-17.41M	-18.01M	-16.91M	-12.59M	-13.16M	-13.63M	-9.92M	-12.43M	-16.69M	-46.74M	-31.61M	-25.52M	-198.10M	-78.75M	-203.52M	-37.35M	-14.62M	-9.81M	-9.11M	-13.04M	-5.35M	-4.59M	2.12M	-	-19.98M	-34.32M	-25.32M	-33.41M	-17.28M	1.60M	-	-	-64.62M	-19.90M	-20.86M	-429.13M	-26.63M
Diluted EPS	-2.91	-0.20	-0.26	-0.33	-0.34	-0.28	-0.18	-0.18	-0.18	-0.13	-0.16	-	-0.59	-0.38	-0.30	-	-0.93	-2.38	-0.44	-	-0.12	-0.11	-0.15	-0.06	-0.05	0.02	-0.11	-0.24	-0.37	-0.30	-0.36	-0.22	-0.06	-	-	-0.63	-0.44	-0.24	-3.84	-0.24
R&D Expense	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3.40M	-	4.20M	4.10M	3.80M	3.80M	-	-	-	-	-	-	-	-	-	-	-	-	-	-

Profit & Loss (Annual)

Figures in USD.

Metric	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Revenue	-	-	-	254.19M	434.95M	627.06M	846.38M	924.64M	-	1.35B	1.96B	2.55B	1.88B
Cost of Revenue	-	-	-	-	-	-	-	-	-	1.04B	1.50B	2.19B	1.48B
Gross Profit	-	-	-	-	-	-	-	-	-	316.58M	460.47M	367.35M	399.88M
Operating Expenses	-	-	-	-	-	-	-	-	-	336.46M	481.52M	381.42M	419.72M
Operating Income	-21.16M	0	-42.97M	-237.42M	-72.84M	-47.48M	-308.88M	-262.85M	-	-19.88M	-21.05M	-14.07M	-19.83M
EBITDA	-	-	-	-	-	-	-	-	-	20.69M	-24.79M	80.06M	-361.31M
Interest Expense	-	-	-	-	-	-	-	-	-	15.57M	54.20M	24.72M	57.47M
Pretax Income	-	-	-	-	-	-	-	-	-	-62.08M	-202.41M	-63.04M	-534.64M
Tax Provision	-	-	-	-	-	-	-	-	-	-43.38M	-89.36M	-1.41M	-126.00K
Net Income	20.02M	-25.25M	332.49M	-159.74M	-60.66M	-52.66M	-301.97M	-334.25M	-	-19.16M	-113.04M	-61.62M	-534.51M
Diluted EPS	0.99	-13.46	6.93	-3.55	-0.94	-	-3.67	-3.94	-	-0.20	-1.28	-0.81	-5.07
R&D Expense	2.00M	0	5.80M	11.10M	17.20M	18.20M	19.80M	15.10M	15.50M	-	-	-	-

Compounded Sales Growth

5 Years:	11.54%
1 Year:	2.60%

Compounded Profit Growth

5 Years:	-896.38%
1 Year:	-

Stock Price Performance

1 Year:	-46.98%
6 Months:	-8.35%
3 Months:	+21.54%
1 Month:	+4.22%

Balance Sheet (Annual)

Figures in USD.

Metric	Dec 2012	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Total Assets	-	-	37.20M	1.02B	1.20B	1.31B	1.72B	1.50B	1.37B	-	1.82B	2.68B	2.54B	1.90B
Current Assets	-	-	-	-	-	-	-	-	-	-	478.05M	683.67M	607.12M	506.37M
Cash & Equivalents	5.25M	0	0	145.73M	134.56M	238.43M	228.32M	101.01M	319.00M	-	188.20M	192.82M	104.20M	151.86M
Inventory	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Receivables	-	-	-	-	-	-	-	-	-	-	254.68M	446.75M	414.68M	309.86M
Total Liabilities	-	-	0	80.94M	287.73M	266.39M	532.92M	568.97M	752.10M	-	957.88M	1.61B	1.54B	1.48B
Current Liabilities	-	-	0	59.51M	131.94M	132.70M	269.36M	192.77M	403.29M	-	433.44M	674.24M	715.50M	385.26M
Long Term Debt	-	-	-	-	-	-	-	293.67M	263.34M	-	412.99M	597.05M	490.52M	970.54M
Total Debt	-	-	-	-	-	-	-	-	-	-	476.12M	644.80M	713.67M	989.70M
Total Equity	-	-	-2.07M	649.34M	702.53M	1.01B	1.14B	929.05M	619.60M	-	859.42M	1.07B	1.00B	415.19M
Shares Outstanding	-	-	-	-	-	-	-	-	-	-	101.50M	115.42M	116.58M	117.60M

Cash Flows (Annual)

Figures in USD.

Metric	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Operating Cash Flow	-13.63M	0	-18.47M	-35.51M	-27.96M	-20.65M	-42.65M	-16.23M	-	-11.55M	142.58M	18.77M	38.84M
Investing Cash Flow	-25.91M	0	-43.68M	-96.66M	-12.27M	-160.38M	-181.63M	261.07M	-	-259.12M	-415.54M	-62.93M	-233.00K
Financing Cash Flow	34.29M	0	214.16M	150.19M	165.56M	274.02M	-35.55M	-11.86M	-	131.54M	281.34M	-565.00K	-35.92M
Capital Expenditure	-10.44M	-0	-6.51M	-15.53M	-27.85M	-39.55M	-35.53M	-	-	-38.36M	-28.75M	-24.89M	-34.09M
Free Cash Flow	-24.07M	0	-24.98M	-51.04M	-55.81M	-60.20M	-78.18M	-	-	-49.91M	113.84M	-6.13M	4.75M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-139.13M	8.38M	-44.73M	2.69M
Share Buybacks	-	-	-	-	-	-	-	-	-	-	0	0	40.00M

Ratios (Annual)

Figures in %.

Metric	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Gross Margin %	-	-	-	-	-	-	-	-	-	23.4%	23.4%	14.4%	21.3%
Operating Margin %	-	-	-	-93.4%	-16.7%	-7.6%	-36.5%	-28.4%	-	-1.5%	-1.1%	-0.6%	-1.1%
Net Margin %	-	-	-	-62.8%	-13.9%	-8.4%	-35.7%	-36.1%	-	-1.4%	-5.8%	-2.4%	-28.5%
ROE %	-	1,219.6%	51.2%	-22.7%	-6.0%	-4.6%	-32.5%	-53.9%	-	-2.2%	-10.6%	-6.2%	-128.7%
ROCE %	-	0.0%	-4.5%	-22.2%	-6.2%	-3.3%	-23.7%	-27.1%	-	-1.4%	-1.0%	-0.8%	-1.3%

Shareholding Pattern

Insiders

1.64%

Institutions

100.95%

Public Float

102.63%

Top Institutional Holders

#	Holder	% Held	Shares	Value
1	Blackrock Inc.	9.68%	10.89M	$43.01M
2	Cadian Capital Management, LP	9.61%	10.81M	$42.72M
3	Morgan Stanley	8.07%	9.08M	$35.87M
4	UBS Group AG	7.25%	8.15M	$32.19M
5	Rubicon Founders LLC	5.17%	5.82M	$22.97M
6	Engaged Capital, LLC	4.95%	5.56M	$21.98M
7	Shaw D.E. & Co., Inc.	4.83%	5.43M	$21.46M
8	Vanguard Capital Management LLC	4.33%	4.87M	$19.23M
9	Rock Springs Capital Management, LP	2.38%	2.67M	$10.57M
10	State Street Corporation	2.35%	2.65M	$10.45M

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