Evolent Health, Inc. (EVH) 10-Year Financial Performance & Capital Metrics

EVH • • Industrial / General

HealthcareHealthcare ITHealthcare Data Analytics & AIHealthcare Business Intelligence

AboutEvolent Health, Inc., a healthcare company, through its subsidiary, Evolent Health LLC, provides clinical and administrative solutions to payers and providers in the United States. It operates in two segments, Evolent Health Services and Clinical Solutions. The Evolent Health Services segment provides an integrated administrative and clinical platform for health plan administration and population health management. It offers financial and administrative management services, such as health plan services, 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, population health performance that delivers patient-centric cost-effective care. The Clinical Solutions segment offers specialty care management services support a range of specialty care delivery stakeholders during their transition from fee-for-service to value-based care, independent of their stage of maturation and specific market dynamics in oncology and cardiology; and holistic total cost of care improvement. The company was founded in 2011 and is headquartered in Arlington, Virginia.Show more

Revenue $2.55B +30.1%
EBITDA $83M +58.4%
Net Income -$62M +45.5%
EPS (Diluted) -0.81 +36.7%
Gross Margin 14.38% -38.7%
EBITDA Margin 3.24% +21.8%
Operating Margin -1.58% +56.3%
Net Margin -2.41% +58.1%
ROE -5.96% +49.2%
ROIC -1.94% +51.6%
Debt/Equity 0.71 +18.0%
Interest Coverage -1.64 -24.7%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong 5Y sales CAGR of 30.0%
✓Healthy dividend yield of 4.4%
✓Trading at only 0.5x book value
✓Efficient asset utilization: 1.0x turnover

✗Weaknesses

✗Negative free cash flow
✗Weak momentum: RS Rating 6 (bottom 6%)
✗Trading more than 30% below 52-week high

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y30.04%

3Y41.18%

TTM-16.65%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-77.46%

EPS CAGR

10Y-

5Y-

3Y-

TTM-74.45%

ROCE

10Y Avg-9.58%

5Y Avg-6.45%

3Y Avg-2%

Latest-2.11%

Peer Comparison

Healthcare Business Intelligence

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
NRCNational Research Corporation	482.6M	21.30	20.48	-3.72%	11.76%	114.31%	3.97%	2.06
WORXSCWorx Corp.	2.91M	0.18	-0.24	-21.43%	-139.71%	-64.87%		0.01
DHDefinitive Healthcare Corp.	251.03M	2.43	-0.69	0.31%	-77.88%	-48.42%	18.27%	0.42
HCATHealth Catalyst, Inc.	165.51M	2.34	-2.03	3.6%	-34.05%	-32.42%		1.10
ZCMDZhongchao Inc.	12.21M	0.47	-3.95	-18.37%	-26.94%	-34.62%		0.00
EVHEvolent Health, Inc.	439.71M	3.94	-4.86	30.09%	-6.24%	-15.22%		0.71
FORAForian Inc.	66.18M	2.13	-17.75	-1.6%	-3.03%	-2.74%	0.43%	0.22

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	96.88M	254.19M	434.95M	627.06M	687.12M	924.64M	907.96M	1.35B	1.96B	2.55B
Revenue Growth %	-	1.62%	0.71%	0.44%	0.1%	0.35%	-0.02%	0.49%	0.45%	0.3%
Cost of Goods Sold+	57.4M	155.18M	269.35M	327.82M	513.03M	696.58M	657.55M	1.04B	1.5B	2.19B
COGS % of Revenue	0.59%	0.61%	0.62%	0.52%	0.75%	0.75%	0.72%	0.77%	0.77%	0.86%
Gross Profit+	39.48M	99.01M	165.6M	299.24M	174.09M	228.06M	250.41M	316.58M	460.47M	367.35M
Gross Margin %	0.41%	0.39%	0.38%	0.48%	0.25%	0.25%	0.28%	0.23%	0.23%	0.14%
Gross Profit Growth %	-	1.51%	0.67%	0.81%	-0.42%	0.31%	0.1%	0.26%	0.45%	-0.2%
Operating Expenses+	82.45M	177.92M	238.04M	350.82M	482.97M	490.9M	292.82M	312.94M	531.68M	407.84M
OpEx % of Revenue	0.85%	0.7%	0.55%	0.56%	0.7%	0.53%	0.32%	0.23%	0.27%	0.16%
Selling, General & Admin	75.29M	160.69M	205.67M	306.31M	236.45M	210.41M	219.5M	269.27M	358.11M	263.05M
SG&A % of Revenue	0.78%	0.63%	0.47%	0.49%	0.34%	0.23%	0.24%	0.2%	0.18%	0.1%
Research & Development	5.8M	11.1M	17.2M	18.2M	0	0	0	27M	0	0
R&D % of Revenue	0.06%	0.04%	0.04%	0.03%	-	-	-	0.02%	-	-
Other Operating Expenses	7.17M	4K	171K	109K	246.53M	280.49M	73.32M	16.67M	173.57M	144.79M
Operating Income+	-42.97M	-237.42M	-72.84M	-47.48M	-308.88M	-262.85M	-42.41M	3.64M	-71.21M	-40.48M
Operating Margin %	-0.44%	-0.93%	-0.17%	-0.08%	-0.45%	-0.28%	-0.05%	0%	-0.04%	-0.02%
Operating Income Growth %	-0.7%	-4.52%	0.69%	0.35%	-5.51%	0.15%	0.84%	1.09%	-20.55%	0.43%
EBITDA+	-35.81M	-220.19M	-40.47M	-2.96M	-247.97M	-201.37M	17.63M	93.89M	52.2M	82.68M
EBITDA Margin %	-0.37%	-0.87%	-0.09%	-0%	-0.36%	-0.22%	0.02%	0.07%	0.03%	0.03%
EBITDA Growth %	-0.42%	-5.15%	0.82%	0.93%	-82.63%	0.19%	1.09%	4.33%	-0.44%	0.58%
D&A (Non-Cash Add-back)	7.17M	17.22M	32.37M	44.52M	60.91M	61.48M	60.04M	90.25M	123.42M	123.17M
EBIT	343.29M	-237.29M	-72.77M	-48.67M	-315.43M	-302.21M	-4.38M	-46.51M	-148.2M	-38.31M
Net Interest Income+	293K	723K	-1.98M	-2.04M	-11.15M	-25.69M	-25.02M	-14.2M	-48.95M	-19.18M
Interest Income	0	0	1.66M	3.44M	3.41M	2.63M	407K	1.37M	5.26M	5.54M
Interest Expense	293K	723K	3.64M	5.48M	14.55M	28.32M	25.43M	15.57M	54.2M	24.72M
Other Income/Expense	386.26M	-114K	-3.56M	-6.67M	-21.1M	-67.69M	12.61M	-65.72M	-131.19M	-22.55M
Pretax Income+	343.29M	-237.53M	-76.4M	-54.15M	-329.99M	-330.54M	-29.8M	-62.08M	-202.41M	-63.04M
Pretax Margin %	3.54%	-0.93%	-0.18%	-0.09%	-0.48%	-0.36%	-0.03%	-0.05%	-0.1%	-0.02%
Income Tax+	23.48M	-10.76M	-6.64M	40K	-22.8M	-2.37M	483K	-43.38M	-89.36M	-1.41M
Effective Tax Rate %	0.97%	0.67%	0.79%	0.97%	0.92%	1.01%	1.26%	0.31%	0.56%	0.98%
Net Income+	332.49M	-159.74M	-60.66M	-52.66M	-301.97M	-334.25M	-37.6M	-19.16M	-113.04M	-61.62M
Net Margin %	3.43%	-0.63%	-0.14%	-0.08%	-0.44%	-0.36%	-0.04%	-0.01%	-0.06%	-0.02%
Net Income Growth %	14.17%	-1.48%	0.62%	0.13%	-4.73%	-0.11%	0.89%	0.49%	-4.9%	0.45%
Net Income (Continuing)	319.81M	-226.78M	-69.77M	-54.19M	-307.19M	-328.17M	-30.28M	-18.7M	-113.04M	-61.62M
Discontinued Operations	0	0	0	0	1.61M	-6.07M	-7.32M	-463K	0	0
Minority Interest	285.24M	209.59M	35.43M	45.53M	6.69M	0	0	0	0	0
EPS (Diluted)+	7.21	-3.55	-0.94	-0.68	-3.71	-3.94	-0.36	-0.20	-1.28	-0.81
EPS Growth %	11.92%	-1.49%	0.74%	0.28%	-4.46%	-0.06%	0.91%	0.44%	-5.4%	0.37%
EPS (Basic)	8.03	-3.55	-0.94	-0.68	-3.71	-3.94	-0.36	-0.20	-1.28	-0.81
Diluted Shares Outstanding	46.14M	45.03M	64.35M	77.34M	82.36M	84.93M	86.07M	93.7M	111.25M	114.68M
Basic Shares Outstanding	41.4M	45M	64.35M	77.34M	82.36M	84.93M	86.07M	93.7M	111.25M	114.68M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	184.46M	264.97M	378.18M	487.97M	228.8M	547.65M	523.96M	478.05M	683.67M	607.12M
Cash & Short-Term Investments	155.17M	178.9M	238.43M	228.32M	102.81M	333.38M	266.28M	188.2M	192.82M	163.5M
Cash Only	145.73M	134.56M	238.43M	228.32M	101.01M	333.38M	266.28M	188.2M	192.82M	104.2M
Short-Term Investments	9.45M	44.34M	0	0	1.81M	0	0	0	0	59.3M
Accounts Receivable	20.38M	40.63M	68.95M	82.31M	77.42M	124.39M	130.6M	254.68M	446.75M	414.68M
Days Sales Outstanding	76.79	58.35	57.86	47.91	41.12	49.1	52.5	68.76	83.03	59.25
Inventory	-20.38M	-40.63M	-3.26M	78.51M	0	0	0	0	0	0
Days Inventory Outstanding	-	-	-	87.42	-	-	-	-	-	-
Other Current Assets	4.7M	34.42M	62.4M	154.72M	20.08M	89.88M	75.69M	35.17M	44.1M	28.94M
Total Non-Current Assets+	816.67M	885.49M	869.45M	1.11B	1.27B	926.79M	895.5M	1.34B	2B	1.94B
Property, Plant & Equipment	12.8M	31.18M	50.92M	73.63M	157.33M	144.04M	131.57M	136.9M	90.18M	79.28M
Fixed Asset Turnover	7.57x	8.15x	8.54x	8.52x	4.37x	6.42x	6.90x	9.88x	21.78x	32.22x
Goodwill	608.9M	626.57M	628.19M	768.12M	572.06M	349.03M	426.3M	722.77M	1.12B	1.14B
Intangible Assets	163.15M	258.92M	241.26M	335.04M	308.46M	264.99M	279.78M	442.78M	752.01M	680.16M
Long-Term Investments	44.62M	2.16M	1.53M	10.01M	139.37M	17.71M	5.46M	4.47M	4.89M	8.59M
Other Non-Current Assets	1.58M	6M	3.29M	6.11M	91.99M	48.28M	52.39M	32.3M	33.01M	31.95M
Total Assets+	1.02B	1.2B	1.31B	1.72B	1.5B	1.47B	1.42B	1.82B	2.68B	2.54B
Asset Turnover	0.10x	0.21x	0.33x	0.36x	0.46x	0.63x	0.64x	0.74x	0.73x	1.00x
Asset Growth %	25.53%	0.18%	0.09%	0.31%	-0.13%	-0.02%	-0.04%	0.28%	0.47%	-0.05%
Total Current Liabilities+	59.51M	131.94M	132.7M	146.76M	192.77M	403.29M	445.49M	433.44M	674.24M	715.5M
Accounts Payable	16.7M	43.89M	42.93M	146.76M	37.49M	31.98M	96.08M	57.17M	48.25M	96.03M
Days Payables Outstanding	106.19	103.24	58.17	163.4	26.67	16.75	53.34	20.15	11.71	16.02
Short-Term Debt	0	0	0	0	0	33.91M	0	0	0	171.47M
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	6.05M	29.16M	29.57M	76.55M	95.84M	280.06M	223.16M	252.19M	460.43M	352.42M
Current Ratio	3.10x	2.01x	2.85x	3.32x	1.19x	1.36x	1.18x	1.10x	1.01x	0.85x
Quick Ratio	3.44x	2.32x	2.87x	2.79x	1.19x	1.36x	1.18x	1.10x	1.01x	0.85x
Cash Conversion Cycle	-	-	-	-28.08	-	-	-	-	-	-
Total Non-Current Liabilities+	21.43M	120.28M	121.39M	386.17M	376.2M	451.55M	280.33M	524.43M	938.37M	827.65M
Long-Term Debt	0	120.28M	121.39M	221.04M	293.67M	263.34M	215.68M	412.99M	597.05M	490.52M
Capital Lease Obligations	0	0	0	0	68.86M	62.53M	57.72M	56.01M	38.01M	24.97M
Deferred Tax Liabilities	21.32M	20.85M	2.44M	25.44M	1.94M	103.42M	1.4M	50.69M	121.24M	119M
Other Non-Current Liabilities	111K	14.65M	9.86M	17.09M	11.73M	18.66M	5.53M	4.74M	182.06M	193.16M
Total Liabilities	80.94M	287.73M	266.39M	532.92M	568.97M	854.84M	725.83M	957.88M	1.61B	1.54B
Total Debt+	0	120.28M	121.39M	221.04M	368.79M	359.78M	280.47M	476.12M	644.8M	713.67M
Net Debt	-145.73M	-14.28M	-117.04M	-7.28M	267.79M	26.41M	14.19M	287.92M	451.97M	609.47M
Debt / Equity	-	0.13x	0.12x	0.19x	0.40x	0.58x	0.40x	0.55x	0.60x	0.71x
Debt / EBITDA	-	-	-	-	-	-	15.91x	5.07x	12.35x	8.63x
Net Debt / EBITDA	-	-	-	-	-	-	0.80x	3.07x	8.66x	7.37x
Interest Coverage	-146.66x	-328.38x	-20.03x	-8.66x	-21.22x	-9.28x	-1.67x	0.23x	-1.31x	-1.64x
Total Equity+	934.58M	912.11M	1.05B	1.19B	929.05M	619.6M	693.63M	859.42M	1.07B	1B
Equity Growth %	452.49%	-0.02%	0.15%	0.14%	-0.22%	-0.33%	0.12%	0.24%	0.24%	-0.06%
Book Value per Share	20.26	20.26	16.26	15.38	11.28	7.30	8.06	9.17	9.60	8.73
Total Shareholders' Equity	649.34M	702.53M	1.01B	1.14B	922.36M	619.6M	693.63M	859.42M	1.07B	1B
Common Stock	590K	659K	774K	823K	846K	859K	908K	1.01M	1.15M	1.17M
Retained Earnings	306.69M	146.62M	85.95M	50.01M	-251.96M	-589.18M	-626.78M	-606.15M	-719.19M	-780.82M
Treasury Stock	0	0	0	0	0	-21.12M	-21.12M	-21.12M	-21.12M	-21.12M
Accumulated OCI	-1.23M	-5.24M	-14.46M	-182K	-234K	-278K	-362K	-1.18M	-1.26M	-1.75M
Minority Interest	285.24M	209.59M	35.43M	45.53M	6.69M	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	-19.83M	-35.51M	-27.96M	-20.65M	-42.65M	-16.23M	38.75M	-11.55M	142.58M	18.77M
Operating CF Margin %	-0.2%	-0.14%	-0.06%	-0.03%	-0.06%	-0.02%	0.04%	-0.01%	0.07%	0.01%
Operating CF Growth %	0.74%	-0.79%	0.21%	0.26%	-1.07%	0.62%	3.39%	-1.3%	13.34%	-0.87%
Net Income	319.81M	-226.78M	-69.77M	-54.19M	-301.97M	-328.17M	-37.6M	-19.16M	-113.04M	-61.62M
Depreciation & Amortization	7.17M	17.22M	32.37M	44.52M	66.64M	60.84M	60.04M	67.19M	123.42M	125.61M
Stock-Based Compensation	14.73M	22.5M	20.44M	17.61M	0	0	16.71M	33.98M	40.5M	39.75M
Deferred Taxes	23.46M	-10.76M	-7.27M	44K	-23.12M	-1.13M	-526K	342K	-31.27M	-2.82M
Other Non-Cash Items	-387.16M	166.73M	3.56M	6.24M	215.48M	307.56M	22.61M	10.53M	101.09M	34.4M
Working Capital Changes	2.16M	-4.43M	-7.28M	-34.87M	331K	-55.32M	-22.49M	-104.44M	21.89M	-116.56M
Change in Receivables	11.76M	-11.04M	-11.26M	-24.5M	6.33M	-47.02M	-24.76M	-102.98M	-164.69M	32.06M
Change in Inventory	-5.77M	5.11M	-1.83M	644K	0	0	0	0	0	0
Change in Payables	2.76M	-6.37M	5.56M	7.6M	-5.48M	3.55M	7.25M	13.16M	-6.72M	4.25M
Cash from Investing+	-43.68M	-97.8M	-12.27M	-160.38M	-181.63M	261.07M	-15.79M	-259.12M	-415.54M	-62.93M
Capital Expenditures	-6.51M	-15.53M	-27.85M	-39.55M	-35.53M	-31.76M	-24.98M	-38.36M	-28.75M	-24.89M
CapEx % of Revenue	0.07%	0.06%	0.06%	0.06%	0.05%	0.03%	0.03%	0.03%	0.01%	0.01%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-50.23M	-6.09M	-20M	28.44M	-41M	160.86M	-2.53M	-226.31M	-387.67M	-30.72M
Cash from Financing+	209.24M	122.14M	165.56M	274.02M	-35.55M	-11.86M	-29.55M	131.54M	281.34M	-565K
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	-20M	-1.3M	0	-18.79M	-20.09M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-1.21M	-365K	-1.39M	106.85M	-99.28M	-7.89M	9.44M	-69.88M	-51.16M	-42.52M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-26.34M	-51.04M	-55.81M	-60.2M	-78.18M	-45.7M	13.76M	-49.91M	113.84M	-6.13M
FCF Margin %	-0.27%	-0.2%	-0.13%	-0.1%	-0.11%	-0.05%	0.02%	-0.04%	0.06%	-0%
FCF Growth %	0.69%	-0.94%	-0.09%	-0.08%	-0.3%	0.42%	1.3%	-4.63%	3.28%	-1.05%
FCF per Share	-0.57	-1.13	-0.87	-0.78	-0.95	-0.54	0.16	-0.53	1.02	-0.05
FCF Conversion (FCF/Net Income)	-0.06x	0.22x	0.46x	0.39x	0.14x	0.05x	-1.03x	0.60x	-1.26x	-0.30x
Interest Paid	0	0	0	0	0	0	7.11M	6.27M	53.59M	20.21M
Taxes Paid	0	0	0	0	0	0	551K	1.4M	4.89M	1.39M

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	71.31%	-17.3%	-6.2%	-4.71%	-28.51%	-43.17%	-5.73%	-2.47%	-11.73%	-5.96%
Return on Invested Capital (ROIC)	-8.19%	-21.11%	-5.98%	-3.37%	-19.48%	-21.39%	-4.7%	0.29%	-4.01%	-1.94%
Gross Margin	40.75%	38.95%	38.07%	47.72%	25.34%	24.66%	27.58%	23.42%	23.45%	14.38%
Net Margin	343.21%	-62.84%	-13.95%	-8.4%	-43.95%	-36.15%	-4.14%	-1.42%	-5.76%	-2.41%
Debt / Equity	-	0.13x	0.12x	0.19x	0.40x	0.58x	0.40x	0.55x	0.60x	0.71x
Interest Coverage	-146.66x	-328.38x	-20.03x	-8.66x	-21.22x	-9.28x	-1.67x	0.23x	-1.31x	-1.64x
FCF Conversion	-0.06x	0.22x	0.46x	0.39x	0.14x	0.05x	-1.03x	0.60x	-1.26x	-0.30x
Revenue Growth	-	162.38%	71.11%	44.17%	9.58%	34.57%	-1.8%	48.91%	45.26%	30.09%

Revenue by Segment

	2018	2019	2020	2021	2022	2023	2024
Evolent Health Services	-	-	-	-	407.5M	1.96B	2.55B
Evolent Health Services Growth	-	-	-	-	-	381.94%	30.09%
Clinical Solutions	-	-	-	-	944.51M	-	-
Clinical Solutions Growth	-	-	-	-	-	-	-
Platforms And Operations Services	501.89M	-	-	896.75M	-	-	-
Platforms And Operations Services Growth	-	-	-	-	-	-	-
Transformation Services	36.57M	-	-	11.2M	-	-	-
Transformation Services Growth	-	-	-	-	-	-	-
Service	538.47M	674.64M	905.06M	-	-	-	-
Service Growth	-	25.29%	34.15%	-	-	-	-
Premiums Revenue	93.96M	171.74M	117.38M	-	-	-	-
Premiums Revenue Growth	-	82.79%	-31.66%	-	-	-	-

Revenue by Geography

	2018	2019	2020	2021	2022	2023	2024
Services	32.92M	458.99M	690.39M	-	-	-	-
Services Growth	-	1294.43%	50.41%	-	-	-	-

Frequently Asked Questions

Growth & Financials

Evolent Health, Inc. (EVH) reported $2.05B in revenue for fiscal year 2024. This represents a 24511% increase from $8.3M in 2012.

Evolent Health, Inc. (EVH) grew revenue by 30.1% over the past year. This is strong growth.

Evolent Health, Inc. (EVH) reported a net loss of $128.2M for fiscal year 2024.

Dividend & Returns

Yes, Evolent Health, Inc. (EVH) pays a dividend with a yield of 4.45%. This makes it attractive for income-focused investors.

Evolent Health, Inc. (EVH) has a return on equity (ROE) of -6.0%. Negative ROE indicates the company is unprofitable.

Evolent Health, Inc. (EVH) had negative free cash flow of $68.7M in fiscal year 2024, likely due to heavy capital investments.

US Stock Screener

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Evolent Health, Inc. (EVH) 10-Year Financial Performance & Capital Metrics

EVH • • Industrial / General

HealthcareHealthcare ITHealthcare Data Analytics & AIHealthcare Business Intelligence

Revenue $2.55B +30.1%
EBITDA $83M +58.4%
Net Income -$62M +45.5%
EPS (Diluted) -0.81 +36.7%
Gross Margin 14.38% -38.7%
EBITDA Margin 3.24% +21.8%
Operating Margin -1.58% +56.3%
Net Margin -2.41% +58.1%
ROE -5.96% +49.2%
ROIC -1.94% +51.6%
Debt/Equity 0.71 +18.0%
Interest Coverage -1.64 -24.7%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong 5Y sales CAGR of 30.0%
✓Healthy dividend yield of 4.4%
✓Trading at only 0.5x book value
✓Efficient asset utilization: 1.0x turnover

✗Weaknesses

✗Negative free cash flow
✗Weak momentum: RS Rating 6 (bottom 6%)
✗Trading more than 30% below 52-week high

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y30.04%

3Y41.18%

TTM-16.65%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-77.46%

EPS CAGR

10Y-

5Y-

3Y-

TTM-74.45%

ROCE

10Y Avg-9.58%

5Y Avg-6.45%

3Y Avg-2%

Latest-2.11%

Peer Comparison

Healthcare Business Intelligence

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
NRCNational Research Corporation	482.6M	21.30	20.48	-3.72%	11.76%	114.31%	3.97%	2.06
WORXSCWorx Corp.	2.91M	0.18	-0.24	-21.43%	-139.71%	-64.87%		0.01
DHDefinitive Healthcare Corp.	251.03M	2.43	-0.69	0.31%	-77.88%	-48.42%	18.27%	0.42
HCATHealth Catalyst, Inc.	165.51M	2.34	-2.03	3.6%	-34.05%	-32.42%		1.10
ZCMDZhongchao Inc.	12.21M	0.47	-3.95	-18.37%	-26.94%	-34.62%		0.00
EVHEvolent Health, Inc.	439.71M	3.94	-4.86	30.09%	-6.24%	-15.22%		0.71
FORAForian Inc.	66.18M	2.13	-17.75	-1.6%	-3.03%	-2.74%	0.43%	0.22

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	96.88M	254.19M	434.95M	627.06M	687.12M	924.64M	907.96M	1.35B	1.96B	2.55B
Revenue Growth %	-	1.62%	0.71%	0.44%	0.1%	0.35%	-0.02%	0.49%	0.45%	0.3%
Cost of Goods Sold+	57.4M	155.18M	269.35M	327.82M	513.03M	696.58M	657.55M	1.04B	1.5B	2.19B
COGS % of Revenue	0.59%	0.61%	0.62%	0.52%	0.75%	0.75%	0.72%	0.77%	0.77%	0.86%
Gross Profit+	39.48M	99.01M	165.6M	299.24M	174.09M	228.06M	250.41M	316.58M	460.47M	367.35M
Gross Margin %	0.41%	0.39%	0.38%	0.48%	0.25%	0.25%	0.28%	0.23%	0.23%	0.14%
Gross Profit Growth %	-	1.51%	0.67%	0.81%	-0.42%	0.31%	0.1%	0.26%	0.45%	-0.2%
Operating Expenses+	82.45M	177.92M	238.04M	350.82M	482.97M	490.9M	292.82M	312.94M	531.68M	407.84M
OpEx % of Revenue	0.85%	0.7%	0.55%	0.56%	0.7%	0.53%	0.32%	0.23%	0.27%	0.16%
Selling, General & Admin	75.29M	160.69M	205.67M	306.31M	236.45M	210.41M	219.5M	269.27M	358.11M	263.05M
SG&A % of Revenue	0.78%	0.63%	0.47%	0.49%	0.34%	0.23%	0.24%	0.2%	0.18%	0.1%
Research & Development	5.8M	11.1M	17.2M	18.2M	0	0	0	27M	0	0
R&D % of Revenue	0.06%	0.04%	0.04%	0.03%	-	-	-	0.02%	-	-
Other Operating Expenses	7.17M	4K	171K	109K	246.53M	280.49M	73.32M	16.67M	173.57M	144.79M
Operating Income+	-42.97M	-237.42M	-72.84M	-47.48M	-308.88M	-262.85M	-42.41M	3.64M	-71.21M	-40.48M
Operating Margin %	-0.44%	-0.93%	-0.17%	-0.08%	-0.45%	-0.28%	-0.05%	0%	-0.04%	-0.02%
Operating Income Growth %	-0.7%	-4.52%	0.69%	0.35%	-5.51%	0.15%	0.84%	1.09%	-20.55%	0.43%
EBITDA+	-35.81M	-220.19M	-40.47M	-2.96M	-247.97M	-201.37M	17.63M	93.89M	52.2M	82.68M
EBITDA Margin %	-0.37%	-0.87%	-0.09%	-0%	-0.36%	-0.22%	0.02%	0.07%	0.03%	0.03%
EBITDA Growth %	-0.42%	-5.15%	0.82%	0.93%	-82.63%	0.19%	1.09%	4.33%	-0.44%	0.58%
D&A (Non-Cash Add-back)	7.17M	17.22M	32.37M	44.52M	60.91M	61.48M	60.04M	90.25M	123.42M	123.17M
EBIT	343.29M	-237.29M	-72.77M	-48.67M	-315.43M	-302.21M	-4.38M	-46.51M	-148.2M	-38.31M
Net Interest Income+	293K	723K	-1.98M	-2.04M	-11.15M	-25.69M	-25.02M	-14.2M	-48.95M	-19.18M
Interest Income	0	0	1.66M	3.44M	3.41M	2.63M	407K	1.37M	5.26M	5.54M
Interest Expense	293K	723K	3.64M	5.48M	14.55M	28.32M	25.43M	15.57M	54.2M	24.72M
Other Income/Expense	386.26M	-114K	-3.56M	-6.67M	-21.1M	-67.69M	12.61M	-65.72M	-131.19M	-22.55M
Pretax Income+	343.29M	-237.53M	-76.4M	-54.15M	-329.99M	-330.54M	-29.8M	-62.08M	-202.41M	-63.04M
Pretax Margin %	3.54%	-0.93%	-0.18%	-0.09%	-0.48%	-0.36%	-0.03%	-0.05%	-0.1%	-0.02%
Income Tax+	23.48M	-10.76M	-6.64M	40K	-22.8M	-2.37M	483K	-43.38M	-89.36M	-1.41M
Effective Tax Rate %	0.97%	0.67%	0.79%	0.97%	0.92%	1.01%	1.26%	0.31%	0.56%	0.98%
Net Income+	332.49M	-159.74M	-60.66M	-52.66M	-301.97M	-334.25M	-37.6M	-19.16M	-113.04M	-61.62M
Net Margin %	3.43%	-0.63%	-0.14%	-0.08%	-0.44%	-0.36%	-0.04%	-0.01%	-0.06%	-0.02%
Net Income Growth %	14.17%	-1.48%	0.62%	0.13%	-4.73%	-0.11%	0.89%	0.49%	-4.9%	0.45%
Net Income (Continuing)	319.81M	-226.78M	-69.77M	-54.19M	-307.19M	-328.17M	-30.28M	-18.7M	-113.04M	-61.62M
Discontinued Operations	0	0	0	0	1.61M	-6.07M	-7.32M	-463K	0	0
Minority Interest	285.24M	209.59M	35.43M	45.53M	6.69M	0	0	0	0	0
EPS (Diluted)+	7.21	-3.55	-0.94	-0.68	-3.71	-3.94	-0.36	-0.20	-1.28	-0.81
EPS Growth %	11.92%	-1.49%	0.74%	0.28%	-4.46%	-0.06%	0.91%	0.44%	-5.4%	0.37%
EPS (Basic)	8.03	-3.55	-0.94	-0.68	-3.71	-3.94	-0.36	-0.20	-1.28	-0.81
Diluted Shares Outstanding	46.14M	45.03M	64.35M	77.34M	82.36M	84.93M	86.07M	93.7M	111.25M	114.68M
Basic Shares Outstanding	41.4M	45M	64.35M	77.34M	82.36M	84.93M	86.07M	93.7M	111.25M	114.68M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	184.46M	264.97M	378.18M	487.97M	228.8M	547.65M	523.96M	478.05M	683.67M	607.12M
Cash & Short-Term Investments	155.17M	178.9M	238.43M	228.32M	102.81M	333.38M	266.28M	188.2M	192.82M	163.5M
Cash Only	145.73M	134.56M	238.43M	228.32M	101.01M	333.38M	266.28M	188.2M	192.82M	104.2M
Short-Term Investments	9.45M	44.34M	0	0	1.81M	0	0	0	0	59.3M
Accounts Receivable	20.38M	40.63M	68.95M	82.31M	77.42M	124.39M	130.6M	254.68M	446.75M	414.68M
Days Sales Outstanding	76.79	58.35	57.86	47.91	41.12	49.1	52.5	68.76	83.03	59.25
Inventory	-20.38M	-40.63M	-3.26M	78.51M	0	0	0	0	0	0
Days Inventory Outstanding	-	-	-	87.42	-	-	-	-	-	-
Other Current Assets	4.7M	34.42M	62.4M	154.72M	20.08M	89.88M	75.69M	35.17M	44.1M	28.94M
Total Non-Current Assets+	816.67M	885.49M	869.45M	1.11B	1.27B	926.79M	895.5M	1.34B	2B	1.94B
Property, Plant & Equipment	12.8M	31.18M	50.92M	73.63M	157.33M	144.04M	131.57M	136.9M	90.18M	79.28M
Fixed Asset Turnover	7.57x	8.15x	8.54x	8.52x	4.37x	6.42x	6.90x	9.88x	21.78x	32.22x
Goodwill	608.9M	626.57M	628.19M	768.12M	572.06M	349.03M	426.3M	722.77M	1.12B	1.14B
Intangible Assets	163.15M	258.92M	241.26M	335.04M	308.46M	264.99M	279.78M	442.78M	752.01M	680.16M
Long-Term Investments	44.62M	2.16M	1.53M	10.01M	139.37M	17.71M	5.46M	4.47M	4.89M	8.59M
Other Non-Current Assets	1.58M	6M	3.29M	6.11M	91.99M	48.28M	52.39M	32.3M	33.01M	31.95M
Total Assets+	1.02B	1.2B	1.31B	1.72B	1.5B	1.47B	1.42B	1.82B	2.68B	2.54B
Asset Turnover	0.10x	0.21x	0.33x	0.36x	0.46x	0.63x	0.64x	0.74x	0.73x	1.00x
Asset Growth %	25.53%	0.18%	0.09%	0.31%	-0.13%	-0.02%	-0.04%	0.28%	0.47%	-0.05%
Total Current Liabilities+	59.51M	131.94M	132.7M	146.76M	192.77M	403.29M	445.49M	433.44M	674.24M	715.5M
Accounts Payable	16.7M	43.89M	42.93M	146.76M	37.49M	31.98M	96.08M	57.17M	48.25M	96.03M
Days Payables Outstanding	106.19	103.24	58.17	163.4	26.67	16.75	53.34	20.15	11.71	16.02
Short-Term Debt	0	0	0	0	0	33.91M	0	0	0	171.47M
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	6.05M	29.16M	29.57M	76.55M	95.84M	280.06M	223.16M	252.19M	460.43M	352.42M
Current Ratio	3.10x	2.01x	2.85x	3.32x	1.19x	1.36x	1.18x	1.10x	1.01x	0.85x
Quick Ratio	3.44x	2.32x	2.87x	2.79x	1.19x	1.36x	1.18x	1.10x	1.01x	0.85x
Cash Conversion Cycle	-	-	-	-28.08	-	-	-	-	-	-
Total Non-Current Liabilities+	21.43M	120.28M	121.39M	386.17M	376.2M	451.55M	280.33M	524.43M	938.37M	827.65M
Long-Term Debt	0	120.28M	121.39M	221.04M	293.67M	263.34M	215.68M	412.99M	597.05M	490.52M
Capital Lease Obligations	0	0	0	0	68.86M	62.53M	57.72M	56.01M	38.01M	24.97M
Deferred Tax Liabilities	21.32M	20.85M	2.44M	25.44M	1.94M	103.42M	1.4M	50.69M	121.24M	119M
Other Non-Current Liabilities	111K	14.65M	9.86M	17.09M	11.73M	18.66M	5.53M	4.74M	182.06M	193.16M
Total Liabilities	80.94M	287.73M	266.39M	532.92M	568.97M	854.84M	725.83M	957.88M	1.61B	1.54B
Total Debt+	0	120.28M	121.39M	221.04M	368.79M	359.78M	280.47M	476.12M	644.8M	713.67M
Net Debt	-145.73M	-14.28M	-117.04M	-7.28M	267.79M	26.41M	14.19M	287.92M	451.97M	609.47M
Debt / Equity	-	0.13x	0.12x	0.19x	0.40x	0.58x	0.40x	0.55x	0.60x	0.71x
Debt / EBITDA	-	-	-	-	-	-	15.91x	5.07x	12.35x	8.63x
Net Debt / EBITDA	-	-	-	-	-	-	0.80x	3.07x	8.66x	7.37x
Interest Coverage	-146.66x	-328.38x	-20.03x	-8.66x	-21.22x	-9.28x	-1.67x	0.23x	-1.31x	-1.64x
Total Equity+	934.58M	912.11M	1.05B	1.19B	929.05M	619.6M	693.63M	859.42M	1.07B	1B
Equity Growth %	452.49%	-0.02%	0.15%	0.14%	-0.22%	-0.33%	0.12%	0.24%	0.24%	-0.06%
Book Value per Share	20.26	20.26	16.26	15.38	11.28	7.30	8.06	9.17	9.60	8.73
Total Shareholders' Equity	649.34M	702.53M	1.01B	1.14B	922.36M	619.6M	693.63M	859.42M	1.07B	1B
Common Stock	590K	659K	774K	823K	846K	859K	908K	1.01M	1.15M	1.17M
Retained Earnings	306.69M	146.62M	85.95M	50.01M	-251.96M	-589.18M	-626.78M	-606.15M	-719.19M	-780.82M
Treasury Stock	0	0	0	0	0	-21.12M	-21.12M	-21.12M	-21.12M	-21.12M
Accumulated OCI	-1.23M	-5.24M	-14.46M	-182K	-234K	-278K	-362K	-1.18M	-1.26M	-1.75M
Minority Interest	285.24M	209.59M	35.43M	45.53M	6.69M	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	-19.83M	-35.51M	-27.96M	-20.65M	-42.65M	-16.23M	38.75M	-11.55M	142.58M	18.77M
Operating CF Margin %	-0.2%	-0.14%	-0.06%	-0.03%	-0.06%	-0.02%	0.04%	-0.01%	0.07%	0.01%
Operating CF Growth %	0.74%	-0.79%	0.21%	0.26%	-1.07%	0.62%	3.39%	-1.3%	13.34%	-0.87%
Net Income	319.81M	-226.78M	-69.77M	-54.19M	-301.97M	-328.17M	-37.6M	-19.16M	-113.04M	-61.62M
Depreciation & Amortization	7.17M	17.22M	32.37M	44.52M	66.64M	60.84M	60.04M	67.19M	123.42M	125.61M
Stock-Based Compensation	14.73M	22.5M	20.44M	17.61M	0	0	16.71M	33.98M	40.5M	39.75M
Deferred Taxes	23.46M	-10.76M	-7.27M	44K	-23.12M	-1.13M	-526K	342K	-31.27M	-2.82M
Other Non-Cash Items	-387.16M	166.73M	3.56M	6.24M	215.48M	307.56M	22.61M	10.53M	101.09M	34.4M
Working Capital Changes	2.16M	-4.43M	-7.28M	-34.87M	331K	-55.32M	-22.49M	-104.44M	21.89M	-116.56M
Change in Receivables	11.76M	-11.04M	-11.26M	-24.5M	6.33M	-47.02M	-24.76M	-102.98M	-164.69M	32.06M
Change in Inventory	-5.77M	5.11M	-1.83M	644K	0	0	0	0	0	0
Change in Payables	2.76M	-6.37M	5.56M	7.6M	-5.48M	3.55M	7.25M	13.16M	-6.72M	4.25M
Cash from Investing+	-43.68M	-97.8M	-12.27M	-160.38M	-181.63M	261.07M	-15.79M	-259.12M	-415.54M	-62.93M
Capital Expenditures	-6.51M	-15.53M	-27.85M	-39.55M	-35.53M	-31.76M	-24.98M	-38.36M	-28.75M	-24.89M
CapEx % of Revenue	0.07%	0.06%	0.06%	0.06%	0.05%	0.03%	0.03%	0.03%	0.01%	0.01%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-50.23M	-6.09M	-20M	28.44M	-41M	160.86M	-2.53M	-226.31M	-387.67M	-30.72M
Cash from Financing+	209.24M	122.14M	165.56M	274.02M	-35.55M	-11.86M	-29.55M	131.54M	281.34M	-565K
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	-20M	-1.3M	0	-18.79M	-20.09M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-1.21M	-365K	-1.39M	106.85M	-99.28M	-7.89M	9.44M	-69.88M	-51.16M	-42.52M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-26.34M	-51.04M	-55.81M	-60.2M	-78.18M	-45.7M	13.76M	-49.91M	113.84M	-6.13M
FCF Margin %	-0.27%	-0.2%	-0.13%	-0.1%	-0.11%	-0.05%	0.02%	-0.04%	0.06%	-0%
FCF Growth %	0.69%	-0.94%	-0.09%	-0.08%	-0.3%	0.42%	1.3%	-4.63%	3.28%	-1.05%
FCF per Share	-0.57	-1.13	-0.87	-0.78	-0.95	-0.54	0.16	-0.53	1.02	-0.05
FCF Conversion (FCF/Net Income)	-0.06x	0.22x	0.46x	0.39x	0.14x	0.05x	-1.03x	0.60x	-1.26x	-0.30x
Interest Paid	0	0	0	0	0	0	7.11M	6.27M	53.59M	20.21M
Taxes Paid	0	0	0	0	0	0	551K	1.4M	4.89M	1.39M

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	71.31%	-17.3%	-6.2%	-4.71%	-28.51%	-43.17%	-5.73%	-2.47%	-11.73%	-5.96%
Return on Invested Capital (ROIC)	-8.19%	-21.11%	-5.98%	-3.37%	-19.48%	-21.39%	-4.7%	0.29%	-4.01%	-1.94%
Gross Margin	40.75%	38.95%	38.07%	47.72%	25.34%	24.66%	27.58%	23.42%	23.45%	14.38%
Net Margin	343.21%	-62.84%	-13.95%	-8.4%	-43.95%	-36.15%	-4.14%	-1.42%	-5.76%	-2.41%
Debt / Equity	-	0.13x	0.12x	0.19x	0.40x	0.58x	0.40x	0.55x	0.60x	0.71x
Interest Coverage	-146.66x	-328.38x	-20.03x	-8.66x	-21.22x	-9.28x	-1.67x	0.23x	-1.31x	-1.64x
FCF Conversion	-0.06x	0.22x	0.46x	0.39x	0.14x	0.05x	-1.03x	0.60x	-1.26x	-0.30x
Revenue Growth	-	162.38%	71.11%	44.17%	9.58%	34.57%	-1.8%	48.91%	45.26%	30.09%

Revenue by Segment

	2018	2019	2020	2021	2022	2023	2024
Evolent Health Services	-	-	-	-	407.5M	1.96B	2.55B
Evolent Health Services Growth	-	-	-	-	-	381.94%	30.09%
Clinical Solutions	-	-	-	-	944.51M	-	-
Clinical Solutions Growth	-	-	-	-	-	-	-
Platforms And Operations Services	501.89M	-	-	896.75M	-	-	-
Platforms And Operations Services Growth	-	-	-	-	-	-	-
Transformation Services	36.57M	-	-	11.2M	-	-	-
Transformation Services Growth	-	-	-	-	-	-	-
Service	538.47M	674.64M	905.06M	-	-	-	-
Service Growth	-	25.29%	34.15%	-	-	-	-
Premiums Revenue	93.96M	171.74M	117.38M	-	-	-	-
Premiums Revenue Growth	-	82.79%	-31.66%	-	-	-	-

Revenue by Geography

	2018	2019	2020	2021	2022	2023	2024
Services	32.92M	458.99M	690.39M	-	-	-	-
Services Growth	-	1294.43%	50.41%	-	-	-	-

Frequently Asked Questions

Growth & Financials

Evolent Health, Inc. (EVH) reported $2.05B in revenue for fiscal year 2024. This represents a 24511% increase from $8.3M in 2012.

Evolent Health, Inc. (EVH) grew revenue by 30.1% over the past year. This is strong growth.

Evolent Health, Inc. (EVH) reported a net loss of $128.2M for fiscal year 2024.

Dividend & Returns

Yes, Evolent Health, Inc. (EVH) pays a dividend with a yield of 4.45%. This makes it attractive for income-focused investors.

Evolent Health, Inc. (EVH) has a return on equity (ROE) of -6.0%. Negative ROE indicates the company is unprofitable.

Evolent Health, Inc. (EVH) had negative free cash flow of $68.7M in fiscal year 2024, likely due to heavy capital investments.