(EVH) Evolent Health - Overview
Sector: Healthcare | Industry: Health Information Services | Exchange: NYSE (USA) | Market Cap: 444m USD | Total Return: -47.8% in 12m
Avg Turnover: 9.52M
Qual. Beats: 0
Rev. Trend: 22.4%
Qual. Beats: -1
Warnings
High Debt/EBITDA (8.1) with thin interest coverage (-0.3)
Interest Coverage Ratio -0.3 is critical
Altman Z'' -2.91 < 1.0 - financial distress zone
Below Avwap Earnings
Tailwinds
No distinct edge detected
Evolent Health, Inc. (EVH) is a health care technology company specializing in specialty care management within the oncology, cardiology, and musculoskeletal clinical areas. The firm operates an integrated value-based care platform that provides health plan administration, risk management, and pharmacy benefits management for payers and providers.
The company utilizes its proprietary technology, Identifi, to aggregate clinical data and manage patient workflows, alongside the Machinify Auth Intelligence tool which uses artificial intelligence to streamline the prior authorization process. In the health care technology sector, value-based care models focus on improving clinical outcomes while reducing the total cost of care, moving away from traditional fee-for-service structures. Evolent’s business model relies on long-term contracts with health plans to manage complex, high-cost medical specialties.
Exploring the detailed financial metrics on ValueRay can help clarify how these service contracts impact long-term revenue stability.
- Specialty care management expansion in oncology and cardiology drives revenue growth
- Shift toward value-based care contracts increases long-term profit margin potential
- Machinify AI implementation reduces administrative costs and improves prior authorization efficiency
- Health plan utilization rates and medical loss ratios impact quarterly earnings
- Regulatory changes to Medicare Advantage and Medicaid reimbursement affect contract pricing
| Net Income: -496.5m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.00 > 0.02 and ΔFCF/TA 0.44 > 1.0 |
| NWC/Revenue: 6.39% < 20% (prev -0.47%; Δ 6.86% < -1%) |
| CFO/TA 0.02 > 3% & CFO 33.3m > Net Income -496.5m |
| Net Debt (831.4m) to EBITDA (102.5m): 8.11 < 3 |
| Current Ratio: 1.32 > 1.5 & < 3 |
| Outstanding Shares: last quarter (111.9m) vs 12m ago -2.96% < -2% |
| Gross Margin: 14.13% > 18% (prev 0.15%; Δ 1.40k% > 0.5%) |
| Asset Turnover: 83.35% > 50% (prev 90.40%; Δ -7.05% > 0%) |
| Interest Coverage Ratio: -0.25 > 6 (EBITDA TTM 102.5m / Interest Expense TTM 64.0m) |
| A: 0.06 (Total Current Assets 502.0m - Total Current Liabilities 381.2m) / Total Assets 1.88b |
| B: -0.71 (Retained Earnings -1.34b / Total Assets 1.88b) |
| C: -0.01 (EBIT TTM -16.3m / Avg Total Assets 2.27b) |
| D: -0.91 (Book Value of Equity -1.34b / Total Liabilities 1.48b) |
| Altman-Z'' = -2.91 = D |
| DSRI: 0.93 (Receivables 314.2m/430.5m, Revenue 1.89b/2.40b) |
| GMI: 1.08 (GM 14.13% / 15.25%) |
| AQI: 0.99 (AQ_t 0.69 / AQ_t-1 0.70) |
| SGI: 0.79 (Revenue 1.89b / 2.40b) |
| TATA: -0.28 (NI -496.5m - CFO 33.3m) / TA 1.88b) |
| Beneish M = -3.46 (Cap -4..+1) = AA |
As of June 01, 2026, the stock is trading at USD 3.95 with a total of 2,696,883 shares traded.
Over the past week, the price has changed by +2.86%,
over one month by +5.33%,
over three months by +10.34% and
over the past year by -47.82%.
Evolent Health has received a consensus analysts rating of 4.57. Therefore, it is recommended to buy EVH.
- StrongBuy: 9
- Buy: 4
- Hold: 1
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 5.8 | 45.6% |
P/E Forward = 41.6667
P/S = 0.2352
P/B = 1.1209
P/EG = 1.9281
Revenue TTM = 1.89b USD
EBIT TTM = -16.3m USD
EBITDA TTM = 102.5m USD
Long Term Debt = 973.5m USD (from longTermDebt, last quarter)
Short Term Debt = 8.78m USD (from shortTermDebt, last quarter)
Debt = 997.4m USD (from shortLongTermDebtTotal, last quarter) + Leases 11.9m
Net Debt = 831.4m USD (calculated: Debt 997.4m - CCE 166.0m)
Enterprise Value = 1.28b USD (444.3m + Debt 997.4m - CCE 166.0m)
Interest Coverage Ratio = -0.25 (Ebit TTM -16.3m / Interest Expense TTM 64.0m)
EV/FCF = 914.5x (Enterprise Value 1.28b / FCF TTM 1.40m)
FCF Yield = 0.11% (FCF TTM 1.40m / Enterprise Value 1.28b)
FCF Margin = 0.07% (FCF TTM 1.40m / Revenue TTM 1.89b)
Net Margin = -26.29% (Net Income TTM -496.5m / Revenue TTM 1.89b)
Gross Margin = 14.13% ((Revenue TTM 1.89b - Cost of Revenue TTM 1.62b) / Revenue TTM)
Gross Margin QoQ = 12.48% (prev 11.14%)
Tobins Q-Ratio = 0.68 (Enterprise Value 1.28b / Total Assets 1.88b)
Interest Expense / Debt = 6.41% (Interest Expense 64.0m / Debt 997.4m)
Taxrate = 21.0% (US default 21%)
NOPAT = -12.9m (EBIT -16.3m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 1.32 (Total Current Assets 502.0m / Total Current Liabilities 381.2m)
Debt / Equity = 2.52 (Debt 997.4m / totalStockholderEquity, last quarter 396.4m)
Debt / EBITDA = 8.11 (Net Debt 831.4m / EBITDA 102.5m)
Debt / FCF = 596.0 (Net Debt 831.4m / FCF TTM 1.40m)
Total Stockholder Equity = 637.5m (last 4 quarters mean from totalStockholderEquity)
RoA = -21.91% (Net Income -496.5m / Total Assets 1.88b)
RoE = -25.08% (Net Income TTM -496.5m / Total Stockholder Equity 1.98b)
RoCE = -0.55% (EBIT -16.3m / Capital Employed (Equity 1.98b + L.T.Debt 973.5m))
RoIC = -0.87% (negative operating profit) (NOPAT -12.9m / Invested Capital 1.49b)
WACC = 7.06% (E(444.3m)/V(1.44b) * Re(11.55%) + D(997.4m)/V(1.44b) * Rd(6.41%) * (1-Tc(0.21)))
Discount Rate = 11.55% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 11.11 | Cagr: -0.66%
[DCF] Terminal Value 75.44% ; FCFF base≈1.40m ; Y1≈1.40m ; Y5≈1.48m
[DCF] Fair Price = N/A (negative equity: EV 23.1m - Net Debt 831.4m = -808.3m; debt exceeds intrinsic value)
EPS Correlation: N/A | EPS CAGR: N/A | SUE: -0.61 | # QB: 0
Revenue Correlation: 22.35 | Revenue CAGR: 3.53% | SUE: -3.11 | # QB: -1
EPS current Quarter (2026-06-30): EPS=-0.02 | Chg30d=N/A | Revisions=+11% | Analysts=11
EPS next Quarter (2026-09-30): EPS=0.05 | Chg30d=-27.08% | Revisions=-27% | Analysts=12
EPS current Year (2026-12-31): EPS=0.20 | Chg30d=+14.39% | Revisions=+11% | GrowthEPS=+118.1% | GrowthRev=+32.9%
EPS next Year (2027-12-31): EPS=0.40 | Chg30d=-8.58% | Revisions=-43% | GrowthEPS=+105.7% | GrowthRev=+17.7%
[Analyst] Revisions Ratio: -43%