Evolent Health, Inc. (EVH) AI Stock Analysis

Headquartered in Arlington, Virginia, Evolent Health, Inc. operates through its subsidiary, Evolent Health LLC, providing clinical and administrative solutions to payers and providers across the United States. The company is organized into two core segments: Evolent Health Services and Clinical Solutions. Evolent Health Services delivers an integrated platform for health plan management and population health, utilizing its proprietary Identifi technology system to aggregate data, manage care workflows, and engage patients. The Clinical Solutions segment provides specialty care management services that assist healthcare stakeholders in transitioning to value-based care models, with a particular focus on specialty areas such as oncology and cardiology.

Evolent Health achieved a 5-year revenue CAGR of 15.2% from FY2020 to FY2025. Annual revenue expanded from $908.0M in FY2021 to $1.35B in FY2022, $1.96B in FY2023, and peaked at $2.55B in FY2024 before contracting 26.6% to $1.88B in FY2025. Net income was -$37.6M in FY2021, -$19.2M in FY2022, -$113.0M in FY2023, -$61.6M in FY2024, and -$534.5M in FY2025, which yielded a net margin of -28.5%. Gross margin stood at 15.1% in FY2025 compared to 27.6% in FY2021. For the latest quarter ended June 30, 2026, quarterly revenue growth reached 46.9% year-over-year, while trailing twelve months revenue totaled $2.10B with an operating margin of -1.3%.

As of June 30, 2026, Evolent Health held $115.7M in cash and short-term investments against $970.4M in total debt, resulting in net debt of $854.7M. The company reported total assets of $1.97B and shareholders' equity of $383.2M, with a current ratio of 1.24 and a debt-to-equity ratio of 2.53. In FY2025, operating cash flow was $38.8M and free cash flow was $4.8M. Cash deployment in FY2025 included $34.1M for capital expenditures, $40.0M for share buybacks, and $11.1M in dividends paid.

At $4.57 per share, Evolent Health has a market capitalization of $516.7M and an enterprise value of $1.26B. The stock trades at a forward P/E of 8.6x, compared to the median of its US-listed Healthcare peers of 17.3x. Its price-to-sales multiple is 0.2x versus the peer median of 4.1x, while its EV/EBITDA of 185.4x is above the peer median of 12.0x. Over the past year, EVH fell 41.4%, trailing the S&P 500 (SPY) return of 16.8%. Over five years, the stock declined 84.7% while the S&P 500 rose 83.0%.

Wall Street coverage consists of 7 Strong Buy, 4 Buy, and 3 Hold ratings, with 0 Sell or Strong Sell recommendations. The mean price target of $5.75 represents 25.8% upside from the last close of $4.57. For the current fiscal year ending December 31, 2026, consensus estimates project revenue of $2.64B and EPS of $0.20, which represents EPS growth of 122.1%. Over the last 4 quarters, Evolent Health recorded 1 EPS beat. The next earnings date is November 5, 2026.

This page is an AI-written research summary of Evolent Health, Inc. (EVH). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

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