Evolent Health, Inc. EVH

Industrials SIC 8741 - Services-Management Services NAICS Administrative and Support and Waste Management and Remediation Services › Administrative and Support Services › Office Administrative Services derived NYSE

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. To manage these increasing costs, some health plans and other risk-bearing entities historically deployed cost containment strategies that can limit access to care and operate in narrow silos (for example, prior authorization for radiological studies being considered independently from a comprehensive chemotherapy regimen). We believe Evolent can bring an integrated approach to a patient's condition across multiple specialties, using technology to recommend our evidence-based clinical pathways in a way that provides rapid feedback to the provider, seeks to remove barriers to care, and aligns financial incentives with the best evidence.

Last close 4.80 2026-10-23
Market cap $542.7M 2026-06-30 share count
52-week range 2.10 - 7.88

Valuation FY2025 figures against the last close

P/S0.3x
P/E—
P/FCF14.0x
EV/EBITDA—
Dividend yield—
Diluted EPS-5.07

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $1.88B$2.55B$1.96B$1.35B$908.0M$924.6M$687.1M$627.1M$434.9M$254.2M
Cost of revenue $1.48B$2.19B$1.50B$1.04B$657.6M—————
Gross profit $399.9M$367.4M$460.5M$316.6M$250.4M—————
R&D ————$15.5M$15.1M$19.8M$18.2M$17.2M$11.1M
SG&A $303.9M$263.1M$358.1M$269.3M$219.5M$210.4M$236.4M$235.4M$205.7M$160.7M
Total operating expenses $2.29B$2.60B$2.04B$1.35B$950.4M$1.19B$996.0M$674.5M$507.8M$491.6M
Operating income -$410.1M-$40.5M-$71.2M$3.6M-$42.4M-$262.8M-$308.9M-$47.5M-$72.8M-$237.4M
Interest expense $57.5M$24.7M$54.2M$15.6M$25.4M$28.3M$14.6M$5.5M$3.6M$247.0K
Pre-tax income -$534.6M-$63.0M-$202.4M-$62.1M-$29.8M-$330.5M-$330.0M-$54.2M-$76.4M-$237.5M
Income tax $126.0K$1.4M$89.4M$43.4M$483.0K$2.4M$22.8M$40.0K$6.6M$10.8M
Net income -$579.4M-$93.5M-$142.3M-$19.2M-$37.6M-$334.2M-$305.6M-$52.7M-$60.7M-$159.7M
EPS, basic -5.07-0.81-1.28-0.20-0.44-3.94-3.67—-0.94-3.55
EPS, diluted -5.07-0.81-1.28-0.20-0.44-3.94-3.67-0.68-0.94-3.55
Shares, diluted (wtd. avg.) 114.2M114.7M111.3M93.7M86.1M84.9M82.4M—64.4M45.0M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $151.9M$104.2M$223.5M$215.2M$354.9M$361.6M$128.5M$388.3M$295.4M$170.0M
Short-term investments ————————$0$44.3M
Receivables $309.9M$414.7M$446.7M$254.7M$130.6M$124.1M$75.7M$80.2M$48.9M$40.6M
Total current assets $506.4M$607.1M$683.7M$478.1M$524.0M$547.6M$228.8M$488.0M$378.2M$265.0M
Property, plant and equipment $80.8M$73.2M$78.2M$87.9M$81.4M$86.2M$85.2M$73.6M$50.9M$31.2M
Goodwill $694.5M$1.14B$1.12B$722.8M$426.3M$349.0M$566.4M$768.1M$628.2M$626.6M
Other intangibles $584.9M$680.2M$752.0M$442.8M$279.8M$265.0M$308.5M$335.0M$241.3M$258.9M
Total assets $1.90B$2.54B$2.68B$1.82B$1.42B$1.37B$1.50B$1.72B$1.31B$1.20B
Accounts payable $59.8M$96.0M$48.2M$57.2M$96.1M$32.0M$37.5M$146.8M$42.9M$43.9M
Short-term debt $0$171.5M$0—$0$26.6M$0———
Total current liabilities $385.3M$715.5M$674.2M$433.4M$445.5M$403.3M$192.8M$269.4M$132.7M$131.9M
Long-term debt $970.5M$490.5M$597.0M$413.0M$215.7M$263.3M$293.7M$221.0M$121.4M$120.3M
Total liabilities $1.48B$1.35B$1.43B$957.9M$725.8M$752.1M$569.0M$532.9M$266.4M$287.7M
Retained earnings -$1.32B-$780.8M-$719.2M-$606.2M-$626.8M-$589.2M-$252.0M$50.0M$86.0M$146.6M
Total equity $415.2M$1.00B$1.07B$859.4M$693.6M$619.6M$929.0M$1.19B$1.05B$912.1M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $38.8M$18.8M$142.6M-$11.6M$38.7M-$16.2M-$42.6M-$20.7M-$28.0M-$35.5M
Depreciation and amortisation $115.9M$118.4M$123.4M$67.2M$60.0M$61.5M$60.9M$44.5M$32.4M$17.2M
Stock-based compensation $39.7M$39.7M$40.5M$34.0M$16.7M$14.6M$15.6M$17.6M$20.4M$18.6M
Capital expenditure ——————$35.5M$39.5M$27.8M$15.5M
Investing cash flow -$233.0K-$62.9M-$415.5M-$259.1M-$15.8M$261.1M-$181.6M-$160.4M-$12.3M-$96.7M
Financing cash flow -$35.9M-$565.0K$281.3M$131.5M-$29.5M-$11.9M-$35.5M$274.0M$165.6M$150.2M
Buybacks $40.0M$0$0———————

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-177267.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -1B 0 1B 2B 3B Revenue, FY2016: 254.2M Net income, FY2016: -159.7M Revenue, FY2017: 434.9M Net income, FY2017: -60.7M Revenue, FY2018: 627.1M Net income, FY2018: -52.7M Revenue, FY2019: 687.1M Net income, FY2019: -305.6M Revenue, FY2020: 924.6M Net income, FY2020: -334.2M Revenue, FY2021: 908M Gross profit, FY2021: 250.4M Net income, FY2021: -37.6M Revenue, FY2022: 1.4B Gross profit, FY2022: 316.6M Net income, FY2022: -19.2M Revenue, FY2023: 2B Gross profit, FY2023: 460.5M Net income, FY2023: -142.3M Revenue, FY2024: 2.6B Gross profit, FY2024: 367.4M Net income, FY2024: -93.5M Revenue, FY2025: 1.9B Gross profit, FY2025: 399.9M Net income, FY2025: -579.4M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $254.2M $434.9M $627.1M $687.1M $924.6M $908.0M $1.35B $1.96B $2.55B $1.88B
Gross profit — — — — — $250.4M $316.6M $460.5M $367.4M $399.9M
Net income -$159.7M -$60.7M -$52.7M -$305.6M -$334.2M -$37.6M -$19.2M -$142.3M -$93.5M -$579.4M

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Results announced Item 2.02
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Results announced Item 2.02
  • Officer or director change Item 5.02
  • Regulation FD disclosure Item 7.01
  • Other event Item 8.01

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

Others in SIC 8741

TickerCompanyMarket capP/ERevenue growth
IT GARTNER INC $14.54B 23.9x 3.7%
FC FRANKLIN COVEY CO $211.0M 77.8x -7.0%
RTO RENTOKIL INITIAL PLC /FI — — —
TDIC Dreamland Ltd — — —