EVH
Evolent Health, Inc.
EVH's outlook is improving, though it still trails on the overall score.
LLY
Eli Lilly and Company
LLY has the edge over EVH overall, supported by stronger fundamentals and lower modeled downside.
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.
LLY Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Strong | |
| Healthy |
LLY's revenue, profitability, cash flow and balance sheet are all currently healthy.
EVH PE Valuation
EVH has no meaningful PE right now: it lost money over the past year.
LLY PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 27x | $845 | -41% |
| Forward | 30x | $1,427 | — |
| Current | 46x | $1,427 | — |
| Fair | 48x | $1,466 | +2.7% |
| Expensive | 85x | $2,612 | +83% |
Historical ranges are pointers, not guarantees.
LLY's PE is in its fair range at 46x. If earnings grow as analysts expect, today's price would be 30x next year's earnings, in its cheap range.
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.
LLY Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Moderate |
LLY has the edge over EVH on the outlook, with more favorable profitability expectations.
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.
LLY Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $46.82 | +52% |
| Q3 2026 | $30.81 | +51% |
| Q2 2026 | $29.80 | +95% |
| Q1 2026 | $28.15 | +129% |
| Q4 2025 | $22.95 | +96% |
| Q3 2025 | $20.44 | +121% |
| Q2 2025 | $15.30 | +88% |
| Q1 2025 | $12.29 | +81% |
| Q4 2024 | $11.71 | +102% |
LLY has the edge over EVH on earnings quality, reporting a profit while its opponent remains loss making.
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.
LLY Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $24.4B | +39% |
| Q2 2026 | $23B | +48% |
| Q1 2026 | $19.8B | +56% |
| Q4 2025 | $19.3B | +43% |
| Q3 2025 | $17.6B | +54% |
| Q2 2025 | $15.6B | +38% |
| Q1 2025 | $12.7B | +45% |
| Q4 2024 | $13.5B | +45% |
LLY has the edge over EVH on sales, with more consistent year-over-year improvement.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 34% | -6.6 points |
| Q2 2026 | 40% | -3.3 points |
| Q1 2026 | 45% | +18 points |
| Q4 2025 | 43% | +5.6 points |
| Q3 2025 | 41% | +27 points |
| Q2 2025 | 44% | +12 points |
| Q1 2025 | 27% | -1.8 points |
| Q4 2024 | 37% | +10 points |
LLY has the edge over EVH on profitability, with a higher operating margin.
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.
LLY Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $8.2B | +22% |
| Q2 2026 | $7.8B | +458% |
| Q1 2026 | $3B | +1826% |
| Q4 2025 | $677.9M | -31% |
| Q3 2025 | $6.7B | +186% |
| Q2 2025 | $1.4B | +476% |
| Q1 2025 | $156.1M | -13% |
| Q4 2024 | $977.8M | +$2.4B |
LLY has the edge over EVH on cash flow, with more consistent year-over-year improvement.
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 the edge over LLY on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q4 2025 | — |
LLY Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | 0% | -300K shares |
| 1 year | -0.6% | -5.4M shares |
| 3 years | -0.7% | -6.4M shares |
| 5 years | -1.9% | -17.4M shares |
| Available history | -4.5% | -42.3M shares |
LLY has 893M diluted shares, down 0.6% from a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | $377M |
| Q2 2026 | $1.6B |
| Q1 2026 | $2.4B |
| Q4 2025 | $1.5B |
| Q3 2025 | $708.1M |
| Q2 2025 | $692.2M |
| Q1 2025 | $1.2B |
| Q4 2024 | $2.1B |
LLY spent $5.8B buying back its own shares over the past year, up 26% from the year before.
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.
LLY Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 1.2x | Healthy |
| Q2 2026 | 1.3x | Healthy |
| Q1 2026 | 1.2x | Healthy |
| Q4 2025 | 1.3x | Healthy |
| Q3 2025 | 1.3x | Healthy |
| Q2 2025 | 2.0x | Healthy |
| Q1 2025 | 2.3x | Moderate |
| Q4 2024 | 2.1x | Moderate |
LLY's net debt is about 1.2 years of its operating earnings (EBITDA), about the same as 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).
LLY Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 68.3 | Neutral |
| Stochastic | 84.1 | Overbought |
LLY's weekly RSI is 68 (neutral) and its Stochastic is 84 (overbought).
EVH PE vs Healthcare Sector
EVH has no meaningful PE right now: it lost money over the past year.
LLY PE vs Healthcare Sector
| Metric | LLY | Sector median | Relative |
|---|---|---|---|
| PE | 46x | 26x | 79% above |
| PE % | 48 | 29 | 19 pts above |
LLY is trading at 46x earnings, a 79% premium to the Healthcare sector's median of 26x.
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.
LLY Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $1,279.4 | 12% above |
| 20 week MA | $1,218.8 | 17% above |
| 50 week MA | $1,102.2 | 29% above |
| 100 week MA | $954.1 | 50% above |
| 200 week MA | $797.5 | 79% above |
LLY has the edge over EVH on trend strength, trading above more of its moving averages.
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.
LLY Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $131.5 | $166.7 | +27% |
| 2021 | $166.7 | $273.1 | +64% |
| 2022 | $273.1 | $367.9 | +35% |
| 2023 | $367.9 | $582.9 | +58% |
| 2024 | $582.9 | $783.2 | +34% |
| 2025 | $783.2 | $1,077.8 | +38% |
| 2026 YTD | $1,077.8 | $1,427.3 | +32% |
LLY has the edge over EVH on returns for 2026, with the stronger performance.