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Evolent Health, Inc., through its subsidiary, provides specialty care management services in oncology, cardiology, and musculoskeletal markets in the United States. The company offers integrated value-based care platform for health plan administration and management. It also provides administrative services, such as health plan services, pharmacy benefits management, risk management, analytics and reporting, and leadership and management; and Identifi, a proprietary technology system that aggregates and analyzes data, manages care workflows, and engages patients. In addition, the company provides Machinify Auth Intelligence, an artificial intelligence tool to aid nurses and physicians in completing clinical review of prior authorization requests. Evolent Health, Inc. was founded in 2011 and is headquartered in Arlington, Virginia.
Rule-based from financial data. Not advice.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 5 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $1.9B | $-361M | $-535M | $5M | -128.7% | -26.6% | 767.4% |
| 2024 | $2.6B | $80M | $-62M | $-6M | -6.2% | 30.1% | -45.5% |
| 2023 | $2.0B | $-25M | $-113M | $114M | -10.6% | 45.3% | 489.9% |
| 2022 | $1.4B | $21M | $-19M | $-50M | -2.2% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2025 |
|---|---|
| Total Revenue | 1,876.23 |
| Operating Revenue | 1,876.23 |
| Cost Of Revenue | 1,476.35 |
| Gross Profit | 399.88 |
| Operating Expense | 419.72 |
| Selling General And Administration | 303.87 |
| Total Expenses | 1,896.06 |
| Operating Income | -19.83 |
| Total Operating Income As Reported | -410.14 |
| EBITDA | -361.31 |
| Normalized EBITDA | 85.02 |
| EBIT | -477.16 |
| Interest Income | 4.19 |
| Interest Expense | 57.47 |
| Net Interest Income | -53.28 |
| Other Non Operating Income Expenses | -15.56 |
| Other Income Expense | -461.52 |
| Interest Income Non Operating | 4.19 |
| Interest Expense Non Operating | 57.47 |
| Net Non Operating Interest Income Expense | -53.28 |
| Pretax Income | -534.64 |
| Tax Provision | -0.13 |
| Tax Rate For Calcs | 0 |
| Tax Effect Of Unusual Items | 0 |
| Net Income Continuous Operations | -534.51 |
| Net Income From Continuing And Discontinued Operation | -534.51 |
| Net Income From Continuing Operation Net Minority Interest | -534.51 |
| Net Income | -534.51 |
| Net Income Common Stockholders | -579.40 |
| Net Income Including Noncontrolling Interests | -534.51 |
| Normalized Income | -88.18 |
| Diluted NI Availto Com Stockholders | -579.40 |
| Basic Average Shares | 114.21 |
| Diluted Average Shares | 114.21 |
| Reconciled Depreciation | 115.85 |
| Reconciled Cost Of Revenue | 1,476.35 |
| Total Unusual Items | -446.33 |
| Total Unusual Items Excluding Goodwill | -446.33 |
| Preferred Stock Dividends | 44.89 |
| Minority Interests | - |
| Net Income Discontinuous Operations | - |
| Special Income Charges | -393.79 |
| Other Special Charges | 4.16 |
| Write Off | - |
| Impairment Of Capital Assets | 398 |
| Restructuring And Mergern Acquisition | 6.50 |
| Gain On Sale Of Security | -52.54 |
| Depreciation Amortization Depletion Income Statement | 115.85 |
| Depreciation And Amortization In Income Statement | 115.85 |
| General And Administrative Expense | - |
| Other Gand A | - |
| Gain On Sale Of Ppe | 14.87 |
| Earnings From Equity Interest | 0.36 |
Healthcare sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Evolent Health, Inc.this co. | EVH | $493M | -0.92 | 1.19 | -128.7% | -3.68 |
| Aquestive Therapeutics, Inc. | AQST | $519M | -6.20 | -15.43 | 248.9% | -6.66 |
| Pacific Biosciences of California, Inc. | PACB | $506M | -0.93 | 94.65 | -10214.5% | -7.50 |
| Arvinas, Inc. | ARVN | $499M | -6.18 | 1.15 | -18.6% | -3.23 |
| AngioDynamics, Inc. | ANGO | $497M |
| - |
| - |
| - |
| - |
| - |
| -14.62 |
| 2.72 |
| -18.6% |
| 256.27 |
| Standard BioTools Inc. | LAB | $496M | -6.62 | 1.17 | -17.7% | -4.73 |
| Prothena Corporation plc | PRTA | $484M | -1.98 | 1.73 | -87.0% | -1.01 |
| The Oncology Institute, Inc. | TOI | $474M | -7.82 | -30.15 | 385.5% | -12.80 |
| CTEV | CTEV | $470M | - | - | 163.5% | 10.85 |
| Peer Median | - | -6.20 | 1.17 | -18.1% | -3.98 | |