EVH
Evolent Health, Inc.
EVH lost money over the past year, so it has no meaningful PE right now. Analysts expect earnings to recover, though they disagree widely on how much.
EVH Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Weak | |
| Stable | |
| Weak |
EVH's revenue is currently healthy, and its cash flow is stable, but its profitability and balance sheet are weak.
EVH PE Valuation
EVH has no meaningful PE right now: it lost money over the past year.
EVH Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Strong growth | |
| Strong growth | |
| Stable | |
| Limited | |
| Low |
Analysts expect strong earnings and revenue growth for EVH, with profitability holding steady. However, they disagree widely on these estimates.
EVH Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $0.40 | — |
| Q3 2026 | -$4.54 | -$2.96 |
| Q2 2026 | -$4.57 | -$2.96 |
| Q1 2026 | -$4.76 | -$3.53 |
| Q4 2025 | -$5.15 | -$4.33 |
| Q3 2025 | -$1.58 | -$0.67 |
| Q2 2025 | -$1.61 | -$0.67 |
| Q1 2025 | -$1.23 | +$0.02 |
| Q4 2024 | -$0.82 | +$0.45 |
EVH is still losing money, but less than at its worst: $4.54 per share over the past year, against $6.11 at its worst in late 2020.
EVH Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $725.4M | +51% |
| Q2 2026 | $652.5M | +47% |
| Q1 2026 | $496.2M | +2.6% |
| Q4 2025 | $468.7M | -28% |
| Q3 2025 | $479.5M | -23% |
| Q2 2025 | $444.3M | -31% |
| Q1 2025 | $483.6M | -24% |
| Q4 2024 | $646.5M | +16% |
EVH's revenue is growing: $725M last quarter, up 51% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -0.8% | -1 points |
| Q2 2026 | -1.5% | -1.2 points |
| Q1 2026 | -2.1% | -1.8 points |
| Q4 2025 | -87% | -84 points |
| Q3 2025 | 0.2% | +2.8 points |
| Q2 2025 | -0.3% | -1.5 points |
| Q1 2025 | -0.3% | +1.8 points |
| Q4 2024 | -2.9% | +1 points |
EVH's operating margin was −0.8% last quarter, down 1 points from the same quarter a year ago.
EVH Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $26.4M | +67% |
| Q2 2026 | -$9.3M | +$21M |
| Q1 2026 | -$984K | -122% |
| Q4 2025 | $48.8M | +$75M |
| Q3 2025 | $15.8M | -15% |
| Q2 2025 | -$30.3M | -242% |
| Q1 2025 | $4.6M | -7% |
| Q4 2024 | -$26.2M | -129% |
EVH's free cash flow has turned positive again: $65M over the past year, against −$36M the year before.
EVH Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.5% | +529K shares |
| 1 year | -0.9% | -995K shares |
| 3 years | +0.7% | +789K shares |
| 5 years | +32% | +27.3M shares |
| Available history | +37% | +30.7M shares |
EVH has 113M diluted shares, down 0.9% from a year ago.
| Quarter | Spent |
|---|---|
| Q4 2025 | — |
EVH Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2025 | 11.9x | High |
| Q2 2025 | 9.8x | High |
| Q1 2025 | 6.8x | High |
| Q4 2024 | 7.2x | High |
| Q3 2024 | 6.7x | High |
| Q2 2024 | 6.5x | High |
| Q1 2024 | 8.8x | High |
| Q4 2023 | 7.7x | High |
EVH's net debt is about 12 years of its operating earnings (EBITDA), up from 6.7 years a year ago.
EVH Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 54.3 | Neutral |
| Stochastic | 72.6 | Neutral |
EVH's weekly RSI is 54 (neutral) and its Stochastic is 73 (neutral).
EVH PE vs Healthcare Sector
EVH has no meaningful PE right now: it lost money over the past year.
EVH Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $4.27 | 12% above |
| 20 week MA | $4.45 | 7.2% above |
| 50 week MA | $3.92 | 22% above |
| 100 week MA | $6.50 | 27% below |
| 200 week MA | $17.2 | 72% below |
EVH has bounced recently, but its long-term trend is still down: it's above its 8-, 20- and 50-week averages, but 72% below its 200-week average.
EVH Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $8.85 | $16.3 | +84% |
| 2021 | $16.3 | $27.0 | +66% |
| 2022 | $27.0 | $27.3 | +1.3% |
| 2023 | $27.3 | $33.0 | +21% |
| 2024 | $33.0 | $11.1 | -66% |
| 2025 | $11.1 | $4.12 | -63% |
| 2026 YTD | $4.12 | $4.77 | +16% |
EVH has finished higher in four of the last six years, two of them by more than 50%. It's up 16% so far in 2026.