A Business at a Glance
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Evolent Health, Inc.
EVH
$482M
Mkt Cap
$4.22
-9.05%
Evolent Health, Inc. (EVH) has a 5-year average return on invested capital (ROIC) of -11.9%. This is below average and may indicate limited pricing power.
Evolent Health, Inc. (EVH) has a market capitalization of $500M. It is classified as a small-cap stock.
Yes, Evolent Health, Inc. (EVH) pays a dividend with a trailing twelve-month yield of 1.31%. The company also returns capital through share buybacks, with a buyback yield of 8.00%.
Evolent Health, Inc. (EVH) operates in the Services-Management Services industry, within the Industrials sector.
Evolent Health, Inc. (EVH) reported annual revenue of $1.9 billion in its most recent fiscal year, based on SEC EDGAR filings.
Evolent Health, Inc. (EVH) has a net profit margin of -30.9%. The company is currently unprofitable.
Evolent Health, Inc. (EVH) generated $39 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
Market Opportunity Evolent is a market leader in connecting care for people with complex conditions like cancer, cardiovascular disease, and musculoskeletal diagnoses. We work on behalf of health plans and other risk-bearing entities and payers (our customers) to support physicians and other healthcare providers (our users) in providing high quality evidence-based care to their patients. We believe adherence to evidence-based clinical pathways supports better outcomes for patients, a better experience for physicians, and lower costs for the healthcare system overall. Specialty care represents a significant and fast-growing portion of healthcare costs in the United States, driven in part by the pace of development of new therapies and treatments.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 1.9B | 1.9B | 2.6B | 2.0B | 1.4B | 908M |
| Net Income | -534M | -579M | -93M | -142M | -19M | -38M |
| EPS | $-4.54 | $-5.07 | $-0.81 | $-1.28 | $-0.20 | $-0.44 |
| Free Cash Flow | 0 | 39M | 19M | 142M | -12M | 38M |
| ROIC | -27.0% | -40.3% | -5.9% | -9.7% | 0.4% | -4.2% |
| Gross Margin | - | 21.3% | 14.4% | 23.4% | 23.4% | 27.6% |
| Debt/Equity | 2.46 | 2.38 | 0.71 | 0.60 | 0.55 | 0.40 |
| Dividends/Share | $0.06 | $0.10 | $0.17 | $0.17 | $0.00 | $0.00 |
| Operating Income | -419M | -410M | -40M | -71M | 3.6M | -42M |
| Operating Margin | -22.2% | -21.9% | -1.6% | -3.6% | 0.3% | -4.7% |
| ROE | -134.7% | -81.8% | -9.0% | -14.8% | -2.5% | -5.7% |
| Shares Outstanding | 118M | 114M | 115M | 111M | 96M | 85M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 0 | N/A | 254M | 435M | 627M | 687M | 925M | 908M | 1.4B | 2.0B | 2.6B | 1.9B | 1.9B |
| Gross Margin | N/A | N/A | N/A | 0.0% | -2.1% | -8.8% | 24.7% | 27.6% | 23.4% | 23.4% | 14.4% | 21.3% | N/A |
| R&D | 0 | 5.8M | 11M | 17M | 18M | 20M | 15M | 16M | N/A | N/A | N/A | N/A | N/A |
| SG&A | 0 | 75M | 161M | 206M | 235M | 236M | 210M | 219M | 269M | 358M | 263M | 304M | 298M |
| EBIT | -31M | -43M | -237M | -73M | -47M | -309M | -263M | -42M | 3.6M | -71M | -40M | -410M | -419M |
| Op. Margin | N/A | N/A | -93.4% | -16.7% | -7.6% | -45.0% | -28.4% | -4.7% | 0.3% | -3.6% | -1.6% | -21.9% | -22.2% |
| Net Income | -31M | 330M | -160M | -61M | -53M | -302M | -334M | -38M | -19M | -142M | -93M | -579M | -534M |
| Net Margin | N/A | N/A | -62.8% | -13.9% | -8.4% | -43.9% | -36.1% | -4.1% | -1.4% | -7.2% | -3.7% | -30.9% | -28.3% |
| Non-Recurring | 0 | 0 | 161M | 0 | 0 | 209M | 216M | 7.3M | 0 | -8.1M | 0 | 398M | 398M |
| Returns on Capital | |||||||||||||
| ROIC | -66.1% | 102.1% | -21.7% | -6.2% | -4.2% | -23.3% | -31.7% | -4.2% | 0.4% | -9.7% | -5.9% | -40.3% | -27.0% |
| ROE | N/A | 102.1% | -23.6% | -7.1% | -4.9% | -29.1% | -43.2% | -5.7% | -2.5% | -14.8% | -9.0% | -81.8% | -134.7% |
| ROA | -165.6% | 62.8% | -14.4% | -4.8% | -3.5% | -18.8% | -23.3% | -2.7% | -1.2% | -6.3% | -3.6% | -26.1% | -28.4% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 0 | -18M | -36M | -28M | -21M | -43M | -16M | 39M | -12M | 143M | 19M | 39M | 33M |
| Free Cash Flow | 0 | -25M | -51M | -56M | -60M | -78M | -16M | 38M | -12M | 142M | 19M | 39M | 0 |
| Owner Earnings | 0 | -40M | -71M | -81M | -83M | -119M | -92M | -38M | -113M | -21M | -139M | -117M | -119M |
| CapEx | 0 | 6.5M | 16M | 28M | 40M | 36M | 11K | 784K | 573K | 137K | 0 | 0 | 0 |
| Maint. CapEx | 0 | 7.2M | 17M | 32M | 45M | 61M | 61M | 60M | 67M | 123M | 118M | 116M | 113M |
| Growth CapEx | N/A | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | N/A | N/A | 0 |
| D&A | 0 | 7.2M | 17M | 32M | 45M | 61M | 61M | 60M | 67M | 123M | 118M | 116M | 113M |
| CapEx/OCF | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.0% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 19M | 20M | 11M | 6.6M |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.6% | 0.7% | 1.1% | 1.3% |
| Share Buybacks | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 40M | 40M |
| Buyback Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 8.5% | 8.0% |
| Stock-Based Comp | 0 | 15M | 19M | 20M | 18M | 16M | 15M | 17M | 34M | 41M | 40M | 40M | 39M |
| Debt Repayment | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 98M | 0 | 464M | 0 | 343M | 343M |
| Balance Sheet | |||||||||||||
| Net Debt | N/A | -155M | -59M | -117M | -7.3M | 266M | 37M | 14M | 288M | 452M | 609M | 838M | 831M |
| Cash & Equiv. | 0 | 146M | 135M | 238M | 228M | 101M | 319M | 266M | 188M | 193M | 104M | 152M | 142M |
| Long-Term Debt | N/A | 0 | 120M | 121M | 221M | 294M | 263M | 216M | 413M | 597M | 491M | 971M | 973M |
| Debt/Equity | -18.97 | 0.00 | 0.17 | 0.12 | 0.19 | 0.40 | 0.58 | 0.40 | 0.55 | 0.60 | 0.71 | 2.38 | 2.46 |
| Interest Coverage | N/A | N/A | -961.2 | -20.0 | -8.7 | -21.2 | -9.3 | -1.7 | 0.2 | -1.3 | -1.6 | -7.1 | -7.1 |
| Equity | -2.1M | 649M | 703M | 1.0B | 1.1B | 929M | 620M | 694M | 859M | 1.1B | 1.0B | 415M | 396M |
| Total Assets | 37M | 1.0B | 1.2B | 1.3B | 1.7B | 1.5B | 1.4B | 1.4B | 1.8B | 2.7B | 2.5B | 1.9B | 1.9B |
| Total Liabilities | 39M | 81M | 288M | 266M | 533M | 569M | 752M | 726M | 958M | 1.4B | 1.4B | 1.5B | 1.5B |
| Intangibles | 0 | 163M | 259M | 241M | 335M | 308M | 265M | 280M | 443M | 752M | 680M | 585M | 570M |
| Retained Earnings | -26M | 307M | 147M | 86M | 50M | -252M | -589M | -627M | -606M | -719M | -781M | -1.3B | -1.3B |
| Working Capital | N/A | 125M | 133M | 245M | 219M | 36M | 144M | 78M | 45M | 9.4M | -108M | 121M | 121M |
| Current Assets | 0 | 184M | 265M | 378M | 488M | 229M | 548M | 524M | 478M | 684M | 607M | 506M | 502M |
| Current Liabilities | 0 | 60M | 132M | 133M | 269M | 193M | 403M | 445M | 433M | 674M | 716M | 385M | 381M |
| Per Share Data | |||||||||||||
| EPS | -13.46 | 6.93 | -3.55 | -0.94 | -0.85 | -3.67 | -3.94 | -0.44 | -0.20 | -1.28 | -0.81 | -5.07 | -4.54 |
| Owner EPS | 0.00 | -0.85 | -1.59 | -1.25 | -1.34 | -1.45 | -1.09 | -0.44 | -1.18 | -0.19 | -1.21 | -1.02 | -1.01 |
| Book Value | -0.89 | 13.62 | 15.61 | 15.66 | 18.46 | 11.29 | 7.30 | 8.12 | 8.97 | 9.61 | 8.68 | 3.63 | 3.35 |
| Cash Flow/Share | 0.00 | -0.39 | -0.79 | -0.43 | -0.33 | -0.52 | -0.19 | 0.45 | -0.12 | 1.28 | 0.16 | 0.34 | -3.55 |
| Dividends/Share | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 | 0.00 | 0.17 | 0.17 | 0.10 | 0.06 |
| Shares Out. | 2.3M | 47.7M | 45.0M | 64.5M | 62.0M | 82.3M | 84.8M | 85.5M | 95.8M | 111.1M | 115.4M | 114.3M | 118.4M |
| Valuation | |||||||||||||
| P/E Ratio | N/A | 1.8 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | -0.9 |
| P/FCF | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 61.3 | N/A | 26.2 | 68.4 | 12.1 | N/A |
| EV/EBIT | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 719.9 | N/A | N/A | N/A | N/A |
| Price/Book | N/A | 0.9 | 1.0 | 0.8 | 1.3 | 0.8 | 2.2 | 3.4 | 3.0 | 3.5 | 1.3 | 1.1 | 1.3 |
| Price/Sales | N/A | N/A | 3.0 | 2.9 | 2.5 | 1.0 | 0.9 | 2.1 | 2.1 | 1.7 | 1.1 | 0.5 | 0.3 |
| FCF Yield | N/A | -4.2% | -7.6% | -6.8% | -3.9% | -10.7% | -1.2% | 1.6% | -0.5% | 3.8% | 1.5% | 8.2% | N/A |
| Market Cap | N/A | 598M | 668M | 826M | 1.5B | 728M | 1.4B | 2.3B | 2.6B | 3.7B | 1.3B | 471M | 500M |
| Avg. Price | N/A | 17.41 | 16.82 | 19.46 | 20.04 | 10.76 | 10.10 | 22.83 | 29.82 | 29.96 | 25.26 | 8.68 | 4.22 |
| Year-End Price | N/A | 12.55 | 14.85 | 12.80 | 19.71 | 8.85 | 16.43 | 27.21 | 26.98 | 33.52 | 11.13 | 4.12 | 4.22 |
Evolent Health, Inc. passes 3 of 9 quality checks, indicating weak fundamentals.
On a free-cash-flow basis, the stock trades at 12.4x vs a median of 43.7x. The company's 5-year average gross margin is 22.0%. Total shareholder yield (dividends + buybacks) is 9.3%. At current prices, the estimated annualized return to fair value is +29.8%.
Evolent Health, Inc. (EVH) has a debt-to-equity ratio of 2.38. This indicates higher leverage, which may increase financial risk.
Evolent Health, Inc. (EVH) reported earnings per share (EPS) of $-5.07 in its most recent fiscal year.
Evolent Health, Inc. (EVH) has a return on equity (ROE) of -81.8%. A negative ROE may indicate losses or negative equity.
Evolent Health, Inc. (EVH) has a 5-year average gross margin of 22.0%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 13 years of financial data for Evolent Health, Inc. (EVH), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Evolent Health, Inc. (EVH) has a book value per share of $3.63, based on its most recent annual SEC filing.