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Friday 6 November 2026
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Evolent Health, Inc
EVH Healthcare Health Information Services
Evolent Health, Inc’s revenue for fiscal 2025 (year ended December 2025) was $1.9 billion, down 26.6% from fiscal 2024.
- Revenue
- +51.3%
- EPS
- +12.5%
- Free cash flow
- +179.8%
- Total debt
- −8.09%
Quarter to September 2026, against a year earlier
4.60
0.06
+1.32%
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| Dec '25 | Dec '24 | Dec '23 | Dec '22 | Dec '21 | Dec '20 | Dec '19 | Dec '18 | Dec '17 | Dec '16 | |
|---|---|---|---|---|---|---|---|---|---|---|
Piotroski F-Score |
5 | 5 | 4 | 3 | 6 | 3 | 2 | 4 | 5 | — |
P/E ratio |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
P/S ratio |
0.24 | 0.51 | 1.89 | 1.87 | 2.62 | 1.47 | 1.08 | 2.46 | 1.89 | 2.64 |
Altman Z-Score |
(0.43) | 1.04 | 1.81 | 1.96 | 1.96 | 0.65 | 0.36 | 2.20 | 2.25 | 1.25 |
Altman Z″-Score (non-manufacturers) |
(3.00) | (0.46) | (0.12) | 0.03 | (0.27) | (1.13) | (0.06) | 3.09 | 5.19 | 3.12 |
P/FCF ratio |
96.07 | 0.00 | 32.52 | 0.00 | 173.02 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
P/Operating CF |
9.36 | (49.18) | 41.42 | 70.82 | 35.73 | (105.94) | 56.52 | (61.79) | 136.49 | (31.20) |
Beneish M-Score |
(4.60) | (2.20) | (2.33) | (1.57) | (2.63) | (3.26) | (2.90) | (2.28) | (2.10) | (2.88) |
P/B ratio |
1.10 | 1.29 | 3.47 | 2.94 | 3.43 | 2.20 | 0.80 | 1.30 | 0.79 | 0.74 |
Price to Tangible BV |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 244.02 | 15.36 | 17.90 | 4.66 | 25.20 |
EV/Sales |
0.67 | 0.63 | 2.08 | 2.03 | 2.48 | 1.40 | 1.33 | 2.20 | 1.48 | 2.27 |
EV/EBITDA |
10.56 | 18.75 | 61.12 | 28.47 | 46.30 | 25.98 | 0.00 | 629.71 | 0.00 | 0.00 |
EV/Operating CF |
32.16 | 86.18 | 28.71 | (237.02) | 58.20 | (79.59) | (21.48) | (66.87) | (23.04) | (16.27) |
EV/FCF |
262.75 | (263.90) | 35.95 | (54.86) | 163.85 | (28.26) | (11.72) | (22.94) | (11.54) | (11.32) |
Quick Ratio |
1.27 | 0.81 | 0.97 | 1.06 | 1.06 | 1.13 | 1.03 | 1.72 | 2.64 | 1.92 |
Current Ratio |
1.31 | 0.85 | 1.01 | 1.10 | 1.18 | 1.36 | 1.19 | 1.81 | 2.85 | 2.01 |
Net Debt/EBITDA |
6.70 | 3.79 | 5.83 | 2.19 | (2.59) | (1.41) | (5.16) | (73.87) | 4.54 | 1.56 |
Debt/Assets |
51.10% | 19.28% | 22.28% | 22.73% | 15.19% | 19.20% | 19.60% | 12.83% | 9.25% | 10.02% |
Debt/Equity |
2.34 | 0.41 | 0.48 | 0.48 | 0.31 | 0.43 | 0.32 | 0.19 | 0.12 | 0.13 |
Asset Turnover |
0.84 | 0.98 | 0.87 | 0.84 | 0.65 | 0.64 | 0.43 | 0.41 | 0.35 | 0.23 |
Operating CF/Net income |
(0.07) | (0.20) | (1.00) | 0.60 | (1.03) | 0.05 | 0.14 | 0.39 | 0.46 | 0.22 |
Capex/Depreciation |
(0.06) | (0.20) | (0.21) | (0.41) | (0.27) | (0.09) | (0.13) | (0.80) | (0.84) | (0.09) |
Interest Coverage |
(7.14) | (1.64) | (1.31) | 0.23 | (1.67) | (9.28) | (21.22) | (8.66) | (20.03) | (961.21) |
| (81.81%) | (9.03%) | (14.76%) | (2.47%) | (5.73%) | (43.17%) | (28.51%) | (4.71%) | (6.20%) | (17.30%) | |
| (26.08%) | (3.58%) | (6.33%) | (1.18%) | (2.69%) | (23.29%) | (18.75%) | (3.47%) | (4.83%) | (14.42%) | |
ROIC |
(21.22%) | (1.67%) | (2.72%) | 0.21% | (4.67%) | (29.89%) | (17.55%) | (2.89%) | (5.25%) | (18.12%) |
Return on Tangible Assets |
(286.98%) | 265.25% | (162.35%) | (14.46%) | (23.53%) | (144.95%) | (249.18%) | (18.02%) | (20.47%) | (97.28%) |
Average Days of Receivables |
60.28 | 59.25 | 83.03 | 68.76 | 52.50 | 48.97 | 40.19 | 46.69 | 41.08 | 58.35 |
Research and Development Expense of Revenue |
0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Selling, General and Administrative Expense of Revenue |
16.20% | 10.30% | 18.23% | 19.92% | 24.18% | 22.76% | 34.41% | 37.54% | 47.29% | 63.22% |
Intangible Assets out of Total Assets |
0.67 | 0.71 | 0.70 | 0.64 | 0.50 | 0.45 | 0.59 | 0.64 | 0.66 | 0.74 |
Share Based Compensation of Revenue |
2.12% | 1.56% | 2.06% | 2.51% | 1.84% | 1.58% | 2.27% | 2.81% | 4.70% | 8.85% |
Graham Net Nets |
(2.14) | (0.58) | (0.20) | (0.19) | (0.08) | (0.15) | (0.46) | (0.03) | 0.14 | (0.03) |
Graham Number |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Earnings Yield |
(128.75%) | (7.29%) | (3.82%) | (0.74%) | (1.59%) | (24.39%) | (40.11%) | (3.41%) | (7.66%) | (24.83%) |
Free Cash Flow Yield |
1.04% | (0.47%) | 3.07% | (1.97%) | 0.58% | (3.36%) | (10.49%) | (3.90%) | (6.78%) | (7.61%) |
Revenue per Share |
16.43 | 22.28 | 17.65 | 14.43 | 10.55 | 10.89 | 8.34 | 8.11 | 6.76 | 5.64 |
Operating CF per Share |
0.34 | 0.16 | 1.28 | (0.12) | 0.45 | (0.19) | (0.52) | (0.27) | (0.43) | (0.79) |
Capex per Share |
(0.30) | (0.22) | (0.26) | (0.41) | (0.29) | (0.35) | (0.43) | (0.51) | (0.43) | (0.34) |
Free Cash Flow per Share |
0.04 | (0.05) | 1.02 | (0.53) | 0.16 | (0.54) | (0.95) | (0.78) | (0.87) | (1.13) |
Cash per Share |
1.56 | 1.43 | 1.86 | 2.16 | 3.97 | 3.93 | 1.49 | 4.95 | 4.67 | 4.74 |
Shareholders Equity per Share |
3.64 | 10.39 | 11.20 | 9.17 | 8.06 | 7.30 | 11.28 | 15.38 | 16.26 | 20.26 |
Interest Debt per Share |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Book value per Share |
3.64 | 10.39 | 11.20 | 9.17 | 8.06 | 7.30 | 11.28 | 15.38 | 16.26 | 20.26 |
Free Cash Flow |
4.76 | (6.13) | 113.84 | (49.91) | 13.76 | (45.70) | (78.18) | (60.20) | (55.81) | (51.04) |
Working Capital |
121.11 | (108.38) | 9.43 | 44.61 | 78.47 | 144.36 | 36.03 | 218.61 | 245.48 | 133.03 |
Capital Expenditures |
(34.09) | (24.89) | (28.74) | (38.36) | (24.98) | (29.47) | (35.53) | (39.55) | (27.85) | (15.53) |
Net Current Asset Value |
(977.67) | (745.86) | (750.51) | (479.82) | (201.86) | (204.45) | (340.17) | (44.96) | 111.79 | (22.76) |
EV/EBIT |
0.00 | 0.00 | 0.00 | 751.87 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Capex to Sales |
0.02 | 0.01 | 0.01 | 0.03 | 0.03 | 0.03 | 0.05 | 0.06 | 0.06 | 0.06 |
Price to Operating Income |
0.00 | 0.00 | 0.00 | 694.12 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other line items | ||||||||||
Depreciation/Fixed assets |
6.54 | 1.73 | 1.77 | 1.05 | 1.12 | 3.62 | 3.24 | 0.67 | 0.65 | 5.70 |
Cash ROIC |
0.30% | (0.33%) | 5.55% | (3.38%) | 1.10% | (3.76%) | (5.81%) | (3.36%) | (3.80%) | (4.10%) |
Accounts Receivable Turnover |
5.18 | 5.93 | 5.60 | 7.02 | 7.13 | 9.26 | 8.82 | 9.71 | 9.71 | 8.33 |
Accounts Payable Turnover |
18.95 | 30.32 | 28.52 | 13.51 | 10.27 | 20.06 | 5.57 | 3.46 | 6.20 | 5.12 |
Inventory Turnover |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Average Days of Payables |
14.78 | 16.02 | 11.71 | 20.15 | 53.34 | 16.75 | 26.67 | 163.40 | 58.17 | 103.24 |
Days of Inventory on Hand |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Average Receivables |
362.27 | 430.72 | 350.72 | 192.64 | 127.33 | 99.87 | 77.94 | 64.58 | 44.79 | 30.51 |
Average Payables |
77.90 | 72.14 | 52.71 | 76.63 | 64.03 | 34.73 | 92.12 | 94.85 | 43.41 | 30.30 |
Average Assets |
2,221.82 | 2,612.36 | 2,248.80 | 1,618.38 | 1,395.58 | 1,434.86 | 1,610.15 | 1,517.49 | 1,256.27 | 1,107.68 |
Average Common Equity |
708.23 | 1,034.48 | 963.56 | 776.53 | 656.62 | 774.32 | 1,059.20 | 1,117.83 | 979.21 | 923.35 |
Columns are period end dates · fundamentals updated 5 Nov 2026