Evolent Health (EVH)
Market Price (3/19/2026): $2.665 | Market Cap: $297.4 MilSector: Health Care | Industry: Health Care Technology
Evolent Health (EVH)
Market Price (3/19/2026): $2.665Market Cap: $297.4 MilSector: Health CareIndustry: Health Care Technology
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
| Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -66% | Weak multi-year price returns2Y Excs Rtn is -120%, 3Y Excs Rtn is -163% | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -20 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -1.1% |
| Megatrend and thematic driversMegatrends include Digital Health & Telemedicine. Themes include Health Data Analytics, and AI in Healthcare Management. | Meaningful short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 16% | Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 281% |
| Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -27%, Rev Chg QQuarterly Revenue Change % is -28% | ||
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -183% | ||
| Key risksEVH key risks include [1] challenges in managing key client contracts, Show more. |
| Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -66% |
| Megatrend and thematic driversMegatrends include Digital Health & Telemedicine. Themes include Health Data Analytics, and AI in Healthcare Management. |
| Weak multi-year price returns2Y Excs Rtn is -120%, 3Y Excs Rtn is -163% |
| Meaningful short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 16% |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -20 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -1.1% |
| Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 281% |
| Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -27%, Rev Chg QQuarterly Revenue Change % is -28% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -183% |
| Key risksEVH key risks include [1] challenges in managing key client contracts, Show more. |
Qualitative Assessment
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Evolent Health (EVH) stock has lost about 35% since 11/30/2025 because of the following key factors:
1. Weaker-than-expected 2026 guidance, particularly for Adjusted EBITDA, following the Q4 2025 earnings report. Evolent Health reported Q4 2025 adjusted EPS of $0.08, exceeding analyst estimates of $0.02. However, the company's EBITDA guidance for the upcoming financial year 2026 was projected at $125 million at the midpoint, falling significantly below analyst estimates of $151.6 million. This forward-looking guidance indicated a challenging profitability outlook, further exacerbated by an anticipated higher Medical Expense Ratio (MER) of approximately 93% in 2026, compared to 89% in 2025. The company also noted a projected $40 million headwind to specialty TNS revenue due to the "one big beautiful bill" and an approximate $100 million impact on revenue from temporary exchange membership declines in 2026.
2. Significant year-on-year revenue decline in Q4 2025 and continued GAAP net losses. Evolent Health's Q4 2025 revenue declined by 27.5% year-on-year to $468.7 million. The company also reported a substantial GAAP net loss of $429.1 million in Q4 2025 and a full-year 2025 GAAP net loss of $579.4 million, with a basic EPS loss of $3.84 for Q4 2025. This sustained unprofitability on a GAAP basis, despite an adjusted EPS beat, raised concerns about the company's path to sustainable profitability.
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1. Weaker-than-expected 2026 guidance, particularly for Adjusted EBITDA, following the Q4 2025 earnings report. Evolent Health reported Q4 2025 adjusted EPS of $0.08, exceeding analyst estimates of $0.02. However, the company's EBITDA guidance for the upcoming financial year 2026 was projected at $125 million at the midpoint, falling significantly below analyst estimates of $151.6 million. This forward-looking guidance indicated a challenging profitability outlook, further exacerbated by an anticipated higher Medical Expense Ratio (MER) of approximately 93% in 2026, compared to 89% in 2025. The company also noted a projected $40 million headwind to specialty TNS revenue due to the "one big beautiful bill" and an approximate $100 million impact on revenue from temporary exchange membership declines in 2026.
2. Significant year-on-year revenue decline in Q4 2025 and continued GAAP net losses. Evolent Health's Q4 2025 revenue declined by 27.5% year-on-year to $468.7 million. The company also reported a substantial GAAP net loss of $429.1 million in Q4 2025 and a full-year 2025 GAAP net loss of $579.4 million, with a basic EPS loss of $3.84 for Q4 2025. This sustained unprofitability on a GAAP basis, despite an adjusted EPS beat, raised concerns about the company's path to sustainable profitability.
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Stock Movement Drivers
Fundamental Drivers
The -36.4% change in EVH stock from 11/30/2025 to 3/18/2026 was primarily driven by a -31.9% change in the company's P/S Multiple.| (LTM values as of) | 11302025 | 3182026 | Change |
|---|---|---|---|
| Stock Price ($) | 4.20 | 2.67 | -36.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 2,054 | 1,876 | -8.7% |
| P/S Multiple | 0.2 | 0.2 | -31.9% |
| Shares Outstanding (Mil) | 114 | 112 | 2.2% |
| Cumulative Contribution | -36.4% |
Market Drivers
11/30/2025 to 3/18/2026| Return | Correlation | |
|---|---|---|
| EVH | -36.4% | |
| Market (SPY) | -3.2% | 10.0% |
| Sector (XLV) | -6.7% | 15.4% |
Fundamental Drivers
The -72.3% change in EVH stock from 8/31/2025 to 3/18/2026 was primarily driven by a -68.8% change in the company's P/S Multiple.| (LTM values as of) | 8312025 | 3182026 | Change |
|---|---|---|---|
| Stock Price ($) | 9.65 | 2.67 | -72.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 2,196 | 1,876 | -14.6% |
| P/S Multiple | 0.5 | 0.2 | -68.8% |
| Shares Outstanding (Mil) | 116 | 112 | 3.9% |
| Cumulative Contribution | -72.3% |
Market Drivers
8/31/2025 to 3/18/2026| Return | Correlation | |
|---|---|---|
| EVH | -72.3% | |
| Market (SPY) | 2.8% | 12.3% |
| Sector (XLV) | 7.6% | 15.3% |
Fundamental Drivers
The -70.3% change in EVH stock from 2/28/2025 to 3/18/2026 was primarily driven by a -60.8% change in the company's P/S Multiple.| (LTM values as of) | 2282025 | 3182026 | Change |
|---|---|---|---|
| Stock Price ($) | 8.99 | 2.67 | -70.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 2,555 | 1,876 | -26.6% |
| P/S Multiple | 0.4 | 0.2 | -60.8% |
| Shares Outstanding (Mil) | 115 | 112 | 3.1% |
| Cumulative Contribution | -70.3% |
Market Drivers
2/28/2025 to 3/18/2026| Return | Correlation | |
|---|---|---|
| EVH | -70.3% | |
| Market (SPY) | 12.3% | 16.4% |
| Sector (XLV) | 0.1% | 20.1% |
Fundamental Drivers
The -92.4% change in EVH stock from 2/28/2023 to 3/18/2026 was primarily driven by a -93.9% change in the company's P/S Multiple.| (LTM values as of) | 2282023 | 3182026 | Change |
|---|---|---|---|
| Stock Price ($) | 35.01 | 2.67 | -92.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,352 | 1,876 | 38.8% |
| P/S Multiple | 2.6 | 0.2 | -93.9% |
| Shares Outstanding (Mil) | 100 | 112 | -10.5% |
| Cumulative Contribution | -92.4% |
Market Drivers
2/28/2023 to 3/18/2026| Return | Correlation | |
|---|---|---|
| EVH | -92.4% | |
| Market (SPY) | 73.1% | 19.7% |
| Sector (XLV) | 21.1% | 22.4% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| EVH Return | 73% | 1% | 18% | -66% | -64% | -29% | -82% |
| Peers Return | 9% | -14% | -12% | -22% | 17% | -9% | -32% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | -2% | 79% |
Monthly Win Rates [3] | |||||||
| EVH Win Rate | 75% | 50% | 67% | 25% | 25% | 33% | |
| Peers Win Rate | 47% | 50% | 45% | 43% | 53% | 40% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 33% | |
Max Drawdowns [4] | |||||||
| EVH Max Drawdown | 0% | -21% | -16% | -68% | -69% | -36% | |
| Peers Max Drawdown | -21% | -30% | -29% | -45% | -26% | -20% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | -3% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: UNH, CVS, ALHC, AGL, PRVA.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 3/18/2026 (YTD)
How Low Can It Go
| Event | EVH | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -44.7% | -25.4% |
| % Gain to Breakeven | 81.0% | 34.1% |
| Time to Breakeven | Not Fully Recovered days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -69.1% | -33.9% |
| % Gain to Breakeven | 223.4% | 51.3% |
| Time to Breakeven | 140 days | 148 days |
| 2018 Correction | ||
| % Loss | -79.8% | -19.8% |
| % Gain to Breakeven | 394.0% | 24.7% |
| Time to Breakeven | 785 days | 120 days |
Compare to UNH, CVS, ALHC, AGL, PRVA
In The Past
Evolent Health's stock fell -44.7% during the 2022 Inflation Shock from a high on 9/12/2022. A -44.7% loss requires a 81.0% gain to breakeven.
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About Evolent Health (EVH)
Evolent Health, Inc., a healthcare company, through its subsidiary, Evolent Health LLC, provides clinical and administrative solutions to payers and providers in the United States. It operates in two segments, Evolent Health Services and Clinical Solutions. The Evolent Health Services segment provides an integrated administrative and clinical platform for health plan administration and population health management. It offers financial and administrative management services, such as health plan services, 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, population health performance that delivers patient-centric cost-effective care. The Clinical Solutions segment offers specialty care management services support a range of specialty care delivery stakeholders during their transition from fee-for-service to value-based care, independent of their stage of maturation and specific market dynamics in oncology and cardiology; and holistic total cost of care improvement. The company was founded in 2011 and is headquartered in Arlington, Virginia.
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Here are 1-3 brief analogies for Evolent Health (EVH):
- SAP for healthcare administration.
- Accenture for healthcare organizations.
- A specialized Optum for health plans and providers.
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- Evolent Health Services Platform: Provides an integrated administrative and clinical platform for health plan administration and population health management.
- Identifi Technology System: A proprietary technology system that aggregates and analyzes data, manages care workflows, and engages patients.
- Specialty Care Management: Offers services to support stakeholders in oncology and cardiology as they transition to value-based care.
- Total Cost of Care Improvement Services: Focuses on comprehensive strategies to reduce and manage the overall cost of healthcare.
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Evolent Health (EVH) primarily sells its clinical and administrative solutions to other companies, specifically within the healthcare industry.
Based on the company's financial filings, no single customer accounted for 10% or more of its total revenue in recent years. This indicates that Evolent Health has a diversified customer base and does not rely on any one individually named "major customer" in terms of revenue concentration.
However, Evolent Health's customer base can be broadly categorized into two primary types of organizations that purchase its services:
- Health Plans (Payers): These customers include national, regional, and government-sponsored health plans (e.g., those administering Medicare Advantage or Medicaid programs). Evolent provides them with integrated administrative and clinical platforms, health plan services, risk management, analytics, and population health management solutions.
- Provider Organizations: This category encompasses large healthcare systems, hospitals, and physician groups. Evolent supports these providers in their transition from fee-for-service to value-based care, offering specialty care management services (e.g., in oncology and cardiology) and holistic total cost of care improvement.
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Seth Blackley, Chief Executive Officer
Seth Blackley is a co-founder of Evolent Health and has served as CEO since October 2020, having previously been President from 2011 to 2020. He began his career as an analyst at McKinsey & Company. Prior to co-founding Evolent, he was an Executive Director of Corporate Development at The Advisory Board Company (2007–2011). Notably, he was an Associate at Bain Capital Partners, where he helped execute the 2006 buyout of Hospital Corporation of America (HCA), indicating experience with private equity-backed transactions.
Mario Ramos, Chief Financial Officer
Mario Ramos was appointed Chief Financial Officer of Evolent Health, effective January 1, 2026. He brings over 30 years of experience in finance, strategy, and operations within healthcare and consumer companies. Before joining Evolent, Mario served as CFO of WellBe Senior Medical. His previous roles include CEO of RWA Wealth Partners, EVP, CFO, and CRO at Edelman Financial Engines, and CFO of CVS Caremark, where he oversaw significant financial operations and strategic initiatives, including the $78 billion Aetna acquisition. He also held investment banking roles at J.P. Morgan and Lehman Brothers.
Daniel McCarthy, President
Daniel McCarthy serves as President of Evolent Health, overseeing growth, product, strategy, operations, clinical, and technology for the enterprise. He joined Evolent approximately a decade ago and has held various leadership roles, including P&L accountability for the specialty care portfolio since 2018. Prior to Evolent, he worked in the healthcare practice at McKinsey & Company, where he consulted payers and providers on value-based care. Earlier in his career, he was a high school math teacher and worked in financial services.
John Johnson, Chief Strategy Officer
John Johnson is transitioning to Chief Strategy Officer at Evolent Health, effective January 1, 2026. Previously, he served as the company's Chief Financial Officer.
Emily Rafferty, EVP, Customer Success
Emily Rafferty is transitioning to the role of EVP, Customer Success at Evolent Health, effective January 1, 2026. She previously served as the Chief Operating Officer of the company.
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```htmlKey Risks to Evolent Health (EVH)
- Reliance on Favorable Healthcare Policy and Transition to Value-Based Care: Evolent Health's business model is deeply integrated with the healthcare industry's ongoing transition toward value-based care models. Any significant slowdown, reversal, or unfavorable modification of these policy trends, particularly at the federal or state level regarding reimbursement and care delivery, could materially diminish the demand for their core services in population health management and specialty care management, thereby impacting their revenue and growth prospects.
- Cybersecurity Breaches and Data Privacy Violations: As a company that processes and stores vast amounts of sensitive patient health information and proprietary client data through its Identifi platform and other systems, Evolent Health faces a constant and material risk of cybersecurity attacks, data breaches, or other privacy violations. Such incidents could lead to significant financial penalties, regulatory investigations, severe reputational damage, and a loss of trust from clients and their members, potentially disrupting operations and client relationships.
- Intense Competition and Client Acquisition/Retention: The market for healthcare administrative and clinical solutions is highly competitive and dynamic. Evolent Health faces risks from existing competitors, new market entrants (including technology giants), and the potential for payers and providers to develop or expand their internal solutions. The company's ability to retain existing clients, secure new contracts, and successfully integrate its complex solutions into diverse healthcare ecosystems is crucial. The loss of a major client or an inability to maintain a competitive edge in service offerings or technology could adversely affect its financial performance and market position.
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Evolent Health (EVH) operates within several significant addressable markets in the United States, providing clinical and administrative solutions to healthcare payers and providers.
Evolent Health Services Segment
- Population Health Management: The U.S. population health management market was valued at approximately USD 36.04 billion in 2024 and is projected to reach about USD 210.18 billion by 2033. Another estimate places the market size at USD 25.6 billion in 2025, growing to USD 124.9 billion by 2034.
- Health Plan Administration (Third-Party Administration): The U.S. healthcare insurance third-party administrator market was valued at approximately US$ 64.92 billion in 2024 and is expected to reach US$ 144.86 billion by 2031. Additionally, the market size for Benefit Administration Services in the U.S. was estimated at $303.7 billion in 2024 and $308.3 billion in 2025.
Clinical Solutions Segment
- Specialty Care Management (Oncology): The U.S. oncology market size was estimated at USD 72.74 billion in 2024 and is predicted to be worth approximately USD 220.21 billion by 2034. Another report indicates the U.S. oncology market was valued at USD 85.64 billion in 2024, is estimated to reach USD 93.54 billion in 2025, and is projected to reach USD 189.55 billion by 2033.
- Specialty Care Management (Cardiology): The U.S. cardiology procedures market size was estimated at USD 55.15 billion in 2023, calculated at USD 59.51 billion in 2024, and is expected to reach around USD 117.97 billion by 2033. The broader U.S. cardiology market size was approximately USD 10.13 billion in 2024 and is predicted to reach about USD 36.66 billion by 2034.
- Holistic Total Cost of Care Improvement: While not a standalone market, this service directly benefits from the "Care Management Solutions" market, which aims to reduce overall healthcare costs. The U.S. care management solutions market was valued at USD 6.63 billion in 2024 and is projected to grow to USD 14.50 billion by 2030.
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Here are the expected drivers of future revenue growth for Evolent Health (EVH) over the next 2-3 years:
- New Customer Acquisition: Evolent Health continues to secure significant new contracts with healthcare payers. For example, a large regional Blues plan is expected to launch Evolent’s Performance Suite for Oncology across more than 650,000 members in MA and Commercial lines of business in 2026. This new contract alone is anticipated to contribute over $550 million in revenue in 2026 and over $800 million in 2027. The company has also announced multiple new revenue agreements in recent quarters, including six new agreements in Q3 2024.
- Expansion of Services with Existing Customers: Evolent Health is deepening its relationships with current partners by expanding existing contracts to include new specialties, lines of business, or geographic areas. An example includes expanding the partnership with Molina to implement cardiology and oncology performance suites across Medicaid and Exchange lives in South Carolina and Mississippi, which is projected to generate at least $50 million in new annual revenue. Furthermore, Evolent sees significant opportunities for expansion with partners like Highmark across new lines of business for oncology and other specialties. The company notes that its revenue opportunity with a major client like Molina is currently less than 50% of the total potential, suggesting ample room for further growth.
- Growth in Specialty Care Offerings, particularly Oncology and Cardiology: Evolent's core specialty care offerings, especially in oncology and cardiology, are significant drivers of revenue. Specialty care revenue saw substantial growth in 2023, and oncology is expected to constitute the majority of revenue in 2026. The increasing demand from health plans for solutions that manage complex specialty care costs is bolstering Evolent's market position.
- Leveraging the Enhanced Performance Suite Model: Evolent's Enhanced Performance Suite model is a key factor in its market success and profitability. This model, which balances disciplined growth and margin, is being adopted in new significant contracts. The company has also been actively renegotiating Performance Suite contracts to secure improved rates and, in some cases, transitioning contracts to the Technology and Services suite to achieve earnings improvements.
- Development and Expansion of Technology and Services Suite: Beyond the Performance Suite, Evolent is growing its Technology and Services Suite. This includes new agreements for specialty technology and services, such as the addition of an MSK specialty offering to help manage orthopedic surgery costs, utilization, and outcomes for an existing Medicaid health plan partner.
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Share Repurchases
- In August 2025, Evolent Health announced plans to repurchase approximately $40.0 million of its Class A common stock concurrently with the pricing of a convertible senior notes offering.
- Following an upsized convertible note offering in August 2025, the company agreed to repurchase 4.43 million shares of its Class A common stock at $9.02 per share.
- Evolent Health was considering a share buyback program in December 2024 to enhance shareholder value.
Share Issuance
- In August 2025, Evolent Health priced an oversubscribed and upsized offering of $145.0 million aggregate principal amount of 4.50% convertible senior notes due 2031.
- The company issued a total of $402.5 million aggregate principal amount of notes in December 2023, resulting in net proceeds of approximately $390.2 million.
- Evolent Health completed a $175 million exchange of its Series A Convertible Preferred Stock for a Second Lien Term Loan, extending debt maturities, in September 2025.
Inbound Investments
- In December 2024, Evolent Health secured $250 million in new financing, comprising a $50 million increase in its existing asset-based revolving credit facility and two new delayed draw term loan facilities totaling $200 million.
- Evolent and EVH LLC entered into a Commitment Letter with Ares Management Credit funds in June 2025, providing additional non-dilutive debt capital for purposes including the retirement of 2025 Convertible Notes and working capital.
Outbound Investments
- In August 2021, Evolent Health agreed to acquire Vital Decisions for $85 million, with a potential additional earn-out of up to $45 million. The initial payment consisted of 50% Evolent Class A common stock and 50% cash. This acquisition was completed in October 2021.
- Evolent Health announced an agreement in June 2024 to acquire certain assets of Machinify, including an exclusive, perpetual, and royalty-free license of Machinify Auth, an AI utilization management platform.
- Evolent Health acquired Aldera Holdings, Inc., a healthcare benefit administration and claims management processing provider.
Capital Expenditures
- Evolent Health's capital expenditures were -$34.09 million in the last 12 months.
- The company reported capital expenditures of -25 million USD in 2024, -29 million USD in 2023, and -38 million USD in 2022.
- For 2026, Evolent expects to capitalize $25 million to $35 million in software development.
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| 02282026 | QDEL | QuidelOrtho | Insider | Insider Buys 45DStrong Insider BuyingCompanies with multiple insider buys in the last 45 days | 0.0% | 0.0% | 0.0% |
| 02272026 | CHE | Chemed | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 0.0% | 0.0% | 0.0% |
| 02272026 | LLY | Eli Lilly | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | 0.0% | 0.0% | 0.0% |
| 02202026 | HAE | Haemonetics | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 3.5% | 3.5% | 0.0% |
| 02132026 | IQV | IQVIA | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | 7.1% | 7.1% | -3.0% |
| 12312024 | EVH | Evolent Health | Dip Buy | DB | FCF Yield | Low D/EDip Buy with High Free Cash Flow YieldBuying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap | 3.4% | -64.4% | -68.5% |
Research & Analysis
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 19.89 |
| Mkt Cap | 3.2 |
| Rev LTM | 4,941 |
| Op Inc LTM | 24 |
| FCF LTM | 138 |
| FCF 3Y Avg | 78 |
| CFO LTM | 152 |
| CFO 3Y Avg | 92 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 9.8% |
| Rev Chg 3Y Avg | 16.3% |
| Rev Chg Q | 10.2% |
| QoQ Delta Rev Chg LTM | 2.4% |
| Op Mgn LTM | 1.0% |
| Op Mgn 3Y Avg | 0.2% |
| QoQ Delta Op Mgn LTM | -0.5% |
| CFO/Rev LTM | 3.1% |
| CFO/Rev 3Y Avg | 3.2% |
| FCF/Rev LTM | 2.4% |
| FCF/Rev 3Y Avg | 2.1% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 3.2 |
| P/S | 0.4 |
| P/EBIT | 15.7 |
| P/E | 10.4 |
| P/CFO | 10.9 |
| Total Yield | 0.4% |
| Dividend Yield | 0.0% |
| FCF Yield 3Y Avg | 2.8% |
| D/E | 0.2 |
| Net D/E | 0.1 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | -3.9% |
| 3M Rtn | -11.9% |
| 6M Rtn | -9.2% |
| 12M Rtn | -25.3% |
| 3Y Rtn | -28.0% |
| 1M Excs Rtn | 1.2% |
| 3M Excs Rtn | -8.3% |
| 6M Excs Rtn | -9.5% |
| 12M Excs Rtn | -41.0% |
| 3Y Excs Rtn | -97.9% |
Price Behavior
Price Behavior
| Market Price | $2.67 | |
| Market Cap ($ Bil) | 0.3 | |
| First Trading Date | 06/05/2015 | |
| Distance from 52W High | -77.3% | |
| 50 Days | 200 Days | |
| DMA Price | $3.29 | $6.64 |
| DMA Trend | down | down |
| Distance from DMA | -18.7% | -59.8% |
| 3M | 1YR | |
| Volatility | 72.3% | 71.0% |
| Downside Capture | 248.84 | 150.81 |
| Upside Capture | 24.65 | -15.99 |
| Correlation (SPY) | 10.2% | 17.3% |
EVH Betas & Captures as of 2/28/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 1.87 | 0.42 | 0.30 | 0.65 | 0.59 | 0.82 |
| Up Beta | 0.02 | 0.31 | 0.14 | 2.66 | 0.98 | 1.05 |
| Down Beta | 1.91 | -1.08 | -1.17 | 0.95 | 0.09 | 0.55 |
| Up Capture | 253% | 7% | 9% | -105% | -4% | 4% |
| Bmk +ve Days | 9 | 20 | 31 | 70 | 142 | 431 |
| Stock +ve Days | 7 | 16 | 24 | 50 | 119 | 359 |
| Down Capture | 182% | 195% | 169% | 134% | 105% | 107% |
| Bmk -ve Days | 12 | 21 | 30 | 54 | 109 | 320 |
| Stock -ve Days | 13 | 24 | 35 | 71 | 128 | 386 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with EVH | |
|---|---|---|---|---|
| EVH | -73.2% | 71.0% | -1.56 | - |
| Sector ETF (XLV) | 1.6% | 17.6% | -0.06 | 20.5% |
| Equity (SPY) | 17.7% | 18.9% | 0.73 | 18.0% |
| Gold (GLD) | 62.0% | 26.4% | 1.81 | -5.1% |
| Commodities (DBC) | 18.3% | 17.3% | 0.85 | -0.2% |
| Real Estate (VNQ) | 4.2% | 16.1% | 0.08 | 18.7% |
| Bitcoin (BTCUSD) | -12.1% | 44.3% | -0.16 | 15.6% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with EVH | |
|---|---|---|---|---|
| EVH | -33.5% | 58.2% | -0.46 | - |
| Sector ETF (XLV) | 6.8% | 14.5% | 0.29 | 25.2% |
| Equity (SPY) | 12.4% | 17.0% | 0.57 | 27.8% |
| Gold (GLD) | 22.6% | 17.3% | 1.07 | -0.2% |
| Commodities (DBC) | 10.7% | 19.0% | 0.45 | 6.7% |
| Real Estate (VNQ) | 4.2% | 18.8% | 0.13 | 24.5% |
| Bitcoin (BTCUSD) | 5.0% | 56.7% | 0.31 | 12.7% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with EVH | |
|---|---|---|---|---|
| EVH | -12.8% | 62.5% | 0.06 | - |
| Sector ETF (XLV) | 10.0% | 16.5% | 0.49 | 34.7% |
| Equity (SPY) | 14.6% | 17.9% | 0.70 | 36.2% |
| Gold (GLD) | 14.1% | 15.7% | 0.75 | 2.2% |
| Commodities (DBC) | 8.4% | 17.6% | 0.39 | 12.0% |
| Real Estate (VNQ) | 5.6% | 20.7% | 0.23 | 30.3% |
| Bitcoin (BTCUSD) | 67.9% | 66.8% | 1.07 | 9.7% |
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Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 2/24/2026 | 22.7% | 37.1% | |
| 11/6/2025 | -17.3% | -30.7% | -34.3% |
| 8/7/2025 | -7.1% | -9.0% | -0.2% |
| 5/8/2025 | -16.0% | -18.2% | -21.3% |
| 2/20/2025 | -2.6% | -19.0% | -10.6% |
| 11/7/2024 | -45.6% | -48.4% | -54.9% |
| 8/8/2024 | 26.5% | 30.3% | 45.0% |
| 5/9/2024 | -9.3% | -13.5% | -12.0% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 14 | 11 | 13 |
| # Negative | 10 | 13 | 10 |
| Median Positive | 5.0% | 13.9% | 11.5% |
| Median Negative | -8.2% | -11.2% | -11.9% |
| Max Positive | 26.5% | 37.1% | 48.7% |
| Max Negative | -45.6% | -48.4% | -54.9% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 12/31/2025 | 02/25/2026 | 10-K |
| 09/30/2025 | 11/07/2025 | 10-Q |
| 06/30/2025 | 08/11/2025 | 10-Q |
| 03/31/2025 | 05/09/2025 | 10-Q |
| 12/31/2024 | 02/21/2025 | 10-K |
| 09/30/2024 | 11/08/2024 | 10-Q |
| 06/30/2024 | 08/09/2024 | 10-Q |
| 03/31/2024 | 05/10/2024 | 10-Q |
| 12/31/2023 | 02/23/2024 | 10-K |
| 09/30/2023 | 11/02/2023 | 10-Q |
| 06/30/2023 | 08/03/2023 | 10-Q |
| 03/31/2023 | 05/04/2023 | 10-Q |
| 12/31/2022 | 02/24/2023 | 10-K |
| 09/30/2022 | 11/03/2022 | 10-Q |
| 06/30/2022 | 08/03/2022 | 10-Q |
| 03/31/2022 | 05/05/2022 | 10-Q |
Insider Activity
Expand for More| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Springstubb, Brendan B | Direct | Buy | 11192025 | 3.82 | 10,000 | 38,199 | 224,690 | Form | |
| 2 | Holder, Diane | Direct | Buy | 3102025 | 9.33 | 2,735 | 25,518 | 658,549 | Form | |
| 3 | McCarthy, Daniel Joseph | PRESIDENT | Direct | Buy | 3102025 | 9.01 | 11,040 | 99,470 | 3,504,926 | Form |
| 4 | Jelinek, Richard M | the Richard M Jelinek Revocable Trust | Buy | 3102025 | 9.16 | 15,000 | 137,400 | 137,400 | Form | |
| 5 | Jelinek, Richard M | the Richard M Jelinek GST | Buy | 3102025 | 9.09 | 15,000 | 136,350 | 136,350 | Form |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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