Carlsmed, Inc. (CARL) vs Evolent Health, Inc (EVH)

Carlsmed, Inc. and Evolent Health, Inc are both Health Information Services companies. Carlsmed, Inc. and Evolent Health, Inc are of similar size ($404.6M and $398.0M). Carlsmed, Inc. grew revenue faster over the last twelve months: 81.1% against −4.50%. Evolent Health, Inc has the higher net margin (−24.4% vs −57.4%) and the higher return on invested capital (−22.1% vs −234.5%). Across the 17 metrics below, Evolent Health, Inc leads on 10 and Carlsmed, Inc. on 7.

Valuation

Metric CARL EVH Health Information Services median
P/E n/m n/m 39.52
P/S 6.49 0.19 2.65
P/B 4.87 1.06 2.32
Price to free cash flow n/m 16.69 16.77
EV/EBITDA n/m 12.35 12.35
EV/Sales 5.32 0.59 3.06
Earnings yield (9.47%) (126.59%) (1.68%)
Free cash flow yield (8.69%) 5.99% 0.54%

Profitability

Metric CARL EVH Health Information Services median
Gross margin 76.63% 17.25% 63.38%
Operating margin (61.09%) (20.39%) (8.35%)
Net margin (57.42%) (24.37%) (14.70%)
Free cash flow margin (56.36%) 1.16% 0.58%
Return on equity (6,196.93%) (79.90%) (6.82%)
Return on assets (42.39%) (23.05%) (6.02%)
Return on invested capital (234.53%) (22.06%) 0.00%

Growth

Metric CARL EVH Health Information Services median
Revenue growth (TTM) 81.14% (4.50%) 8.62%
EPS growth (last fiscal year) 65.30% (525.93%) —
Revenue growth, 5-year CAGR — 15.20% 12.36%
Net income growth, 5-year CAGR — 0.00% 0.00%

Health

Metric CARL EVH Health Information Services median
Debt to equity 0.18 2.52 0.01
Current ratio 8.84 1.24 2.37
Net debt to EBITDA 3.12 6.70 0.50

Dividend

Metric CARL EVH Health Information Services median
Dividend yield — 0.85% 0.85%
Payout ratio — 0.00 0.00

Size

Metric CARL EVH Health Information Services median
Market cap 404.63m 397.97m 352.86m

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