EVOLENT HEALTH INC

EVH NYSE Healthcare
$5.87
Jul 15, 2026
Mkt Cap: $656.9M
ROC: N/A EY: N/A

Business Description

10-K filed: Feb 21, 2025
AI Summary v1

Evolent Health is a technology‑enabled specialty‑care management company that helps health plans, payers and providers deliver high‑quality, evidence‑based care for complex conditions such as cancer, cardiovascular disease and musculoskeletal disorders. Its core offerings combine (1) specialty‑care management services that build high‑performance provider networks and use proprietary clinical pathways, (2) total‑cost‑of‑care solutions that coordinate population health and risk‑based contracts, and (3) administrative services delivered through its Identifi® platform. The company serves Medicare, Medicaid and commercial health plans, large health systems and other risk‑bearing entities across the United States. Revenue comes from fixed‑fee per‑member‑per‑month arrangements, performance‑based contracts and fee‑for‑service administrative services.

Item 1. Business Market Opportunity 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...

Price History

Avg P/E: 0.8 Avg P/FCF: 8358.5
2015201720192021202220242026$0.00$8.05$16.10$24.15$32.21$40.26

Income Statement

Metric2016201720182019202020212022202320242025
Revenue254.2M434.9M627.1M687.1M924.6M908.0M1.4B2.0B2.6B1.9B
Cost of Revenue155.2M269.4M398.7M513.0M696.6M657.6M1.0B1.5B2.2B1.5B
Gross Profit99.0M165.6M228.3M174.1M228.1M250.4M316.6M460.5M367.4M399.9M
Operating Expenses336.4M238.4M275.8M483.0M487.0M279.5M336.5M513.7M402.9M803.5M
Operating Income-237.4M-72.8M-47.5M-308.9M-259.0M-29.1M-19.9M-53.2M-35.6M-403.6M
Interest Expense247.0K3.6M5.5M14.6M28.3M25.4M15.6M54.2M24.7M57.5M
Pre-Tax Income-170.5M-67.3M-52.6M-324.8M-336.6M-37.1M-62.5M-202.4M-63.0M-534.6M
Income Tax-10.8M-6.6M40.0K-22.8M-2.4M483.0K-43.4M-89.4M-1.4M-126.0K
Net Income-159.7M-60.7M-52.7M-302.0M-334.2M-37.6M-19.2M-113.0M-61.6M-534.5M
EPS (Basic)-3.55-0.94-0.68-3.67-3.94-0.44-0.20-1.28-0.81-5.07
EPS (Diluted)-3.55-0.94-0.68-3.67-3.94-0.44-0.20-1.28-0.81-5.07
Shares Outstanding45.0M64.4M77.3M82.4M84.9M86.1M93.7M111.3M114.7M114.2M
Years 4 - 13 of 13

Balance Sheet

Metric2016201720182019202020212022202320242025
Cash & Equivalents134.6M238.4M228.3M101.0M319.0M266.3M188.2M192.8M178.5M180.7M
Short-term Investments78.8M82.4M154.7M21.9M14.4M75.7M14.5M13.8M00
Accounts Receivable40.6M48.9M80.2M75.7M124.1M130.6M254.7M446.7M414.7M309.9M
Inventory0000000000
Total Current Assets265.0M378.2M488.0M228.8M547.6M524.0M478.1M683.7M607.1M506.4M
Property & Equipment31.2M50.9M73.6M157.3M144.0M131.6M136.9M90.2M79.3M85.2M
Goodwill & Intangibles885.5M869.4M1.1B880.5M614.0M706.1M1.2B1.9B1.8B1.3B
Total Assets1.2B1.3B1.7B1.5B1.4B1.4B1.8B2.7B2.5B1.9B
Accounts Payable43.9M42.9M146.8M37.5M32.0M96.1M57.2M48.2M96.0M59.8M
Short-term Debt0006.3M33.9M7.1M7.1M9.7M198.2M15.3M
Total Current Liabilities131.9M132.7M269.4M192.8M403.3M445.5M433.4M674.2M715.5M385.3M
Long-term Debt120.3M121.4M221.0M362.5M325.9M273.4M469.0M635.1M515.5M974.4M
Total Liabilities287.7M266.4M532.9M569.0M752.1M725.8M957.9M1.4B1.4B1.5B
Total Equity702.5M1.0B1.1B922.4M619.6M693.6M859.4M1.1B1.2B415.2M
Total Liab. & Equity----------
Years 4 - 13 of 13

Cash Flow Statement

Metric2016201720182019202020212022202320242025
Net Income-159.7M-60.7M-52.7M-302.0M-334.2M-37.6M-19.2M-113.0M-61.6M-534.5M
Depreciation & Amort.17.2M32.4M44.5M60.9M61.5M60.0M67.2M123.4M118.4M115.9M
Operating Cash Flow-35.5M-28.0M-20.7M-42.6M-16.2M38.7M-11.6M142.6M18.8M38.8M
Capital Expenditures-15.5M-27.8M-39.5M-35.5M-29.5M-25.0M-38.4M-28.7M-24.9M57.2M
Acquisitions-85.6M-4.8M-139.1M-8.6M157.2M-2.5M-226.3M-387.7M-30.7M-57.4M
Investing Cash Flow-96.7M-12.3M-160.4M-181.6M261.1M-15.8M-259.1M-415.5M-62.9M-233.0K
Dividends Paid0000000000
Share Repurchases1.3M171.0M11.9M1.1M2.6M13.3M4.5M12.5M3.5M-40.0M
Debt Issued/Repaid149.3M-4.2M263.3M-41.6M7.4M-37.7M160.3M181.8M102.1M22.2M
Financing Cash Flow150.2M165.6M274.0M-35.5M-11.9M-29.5M131.5M281.3M-565.0K-35.9M
Free Cash Flow-51.0M-55.8M-60.2M-78.2M-45.7M13.8M-49.9M113.8M-6.1M96.1M
Net Change in Cash18.0M125.3M93.0M-259.8M233.1M-6.6M-139.8M8.3M-45.0M2.2M
Years 4 - 13 of 13