Evolent Health (EVH) Financials

$7.19 -0.17 (-2.31%)

Closing price 05/23/2025 03:59 PM Eastern

Extended Trading

$7.25 +0.06 (+0.89%)

As of 05/23/2025 07:54 PM Eastern

Annual Income Statements for Evolent Health

This table shows Evolent Health's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015	12/31/2014
Net Income / (Loss) Attributable to Common Shareholders	-93	-142	-19	-38	-334	-302	-53	-61	-160	332	-25
Consolidated Net Income / (Loss)	-62	-113	-19	-38	-334	-306	-54	-70	-227	320	-25
Net Income / (Loss) Continuing Operations	-62	-113	-19	-30	-328	-307	-54	-70	-227	320	-25
Total Pre-Tax Income	-63	-202	-62	-30	-331	-330	-54	-76	-238	343	-25
Total Operating Income	-40	-71	3.64	-42	-263	-309	-47	-73	-237	-43	0.00
Total Gross Profit	367	460	317	250	925	687	627	435	254	97	0.00
Total Revenue	2,555	1,964	1,352	908	925	687	627	435	254	97	0.00
Operating Revenue	2,555	1,964	1,352	908	925	687	627	435	254	97	0.00
Total Cost of Revenue	2,187	1,503	1,035	658	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cost of Revenue	2,187	1,503	1,035	658	-	-	-	-	-	-	-
Total Operating Expenses	408	532	313	293	1,187	996	674	508	492	140	0.00
Selling, General & Admin Expense	263	358	269	219	210	236	235	206	161	75	0.00
Depreciation Expense	118	123	67	60	61	60	45	32	17	7.17	0.00
Other Operating Expenses / (Income)	19	0.00	0.00	-	697	513	399	269	155	57	0.00
Impairment Charge	2.59	24	0.00	0.00	215	200	0.00	0.00	161	0.00	0.00
Other Special Charges / (Income)	4.91	26	-24	13	4.56	-14	-4.10	0.40	-2.09	0.00	0.00
Total Other Income / (Expense), net	-23	-131	-66	13	-68	-21	-6.78	-3.74	-0.12	386	-25
Interest Expense	25	75	26	47	33	15	5.48	3.64	0.25	0.00	0.00
Interest & Investment Income	2.10	6.55	5.94	60	-34	-6.06	-1.30	-0.10	0.13	-28	-25
Other Income / (Expense), net	0.07	-63	-46	-0.15	-0.12	-0.49	-	-	-	414	0.00
Income Tax Expense	-1.41	-89	-43	0.48	-2.37	-23	0.04	-6.64	-11	23	0.00
Net Income / (Loss) Discontinued Operations	0.00	0.00	-0.46	-7.32	-6.07	1.61	-	-	-	-	-
Preferred Stock Dividends Declared	32	29	0.00	0.00	-	-	-	-	-	-	-
Basic Earnings per Share	($0.81)	($1.28)	($0.20)	($0.44)	($3.94)	($3.67)	($0.68)	($0.94)	($3.55)	$13.14	($13.46)
Weighted Average Basic Shares Outstanding	114.68M	111.25M	93.70M	86.07M	84.93M	82.36M	77.34M	64.35M	45.03M	25.13M	2.31M
Diluted Earnings per Share	($0.81)	($1.28)	($0.20)	($0.44)	($3.94)	($3.67)	($0.68)	($0.94)	($3.55)	$6.93	($13.46)
Weighted Average Diluted Shares Outstanding	114.68M	111.25M	93.70M	86.07M	84.93M	82.36M	77.34M	64.35M	45.03M	46.14M	2.31M
Weighted Average Basic & Diluted Shares Outstanding	116.59M	115.43M	111.05M	90.83M	84.93M	82.36M	77.34M	64.35M	45.03M	25.30M	1.90M

This table shows Evolent Health's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Income / (Loss) Attributable to Common Shareholders	-72	-31	-31	-6.38	-25	-41	-33	-41	-26	-11	2.12
Consolidated Net Income / (Loss)	-65	-23	-23	1.60	-17	-33	-25	-34	-20	-11	2.12
Net Income / (Loss) Continuing Operations	-65	-23	-23	1.60	-17	-33	-25	-34	-20	-11	2.12
Total Pre-Tax Income	-63	-24	-24	1.36	-17	-48	-31	-35	-88	-10	-43
Total Operating Income	-1.62	-19	-16	7.79	-13	-21	-18	-22	-10	-1.88	13
Total Gross Profit	102	76	81	107	104	102	124	117	117	83	86
Total Revenue	484	647	621	647	640	556	511	469	428	382	353
Operating Revenue	484	647	621	647	640	556	511	469	428	382	353
Total Cost of Revenue	381	571	541	540	536	454	387	352	310	299	267
Operating Cost of Revenue	381	571	541	540	536	454	387	352	310	299	267
Total Operating Expenses	104	94	97	99	118	123	142	139	128	85	73
Selling, General & Admin Expense	78	48	67	69	79	81	97	90	90	83	69
Depreciation Expense	24	29	30	30	30	30	32	32	29	20	17
Other Operating Expenses / (Income)	1.91	-	-	-	-	-	-	-	-	-	-
Other Special Charges / (Income)	-0.28	-4.20	0.20	0.00	8.91	12	13	-7.82	8.57	-18	-13
Total Other Income / (Expense), net	-62	-5.33	-7.49	-6.43	-3.31	-27	-13	-14	-78	-8.35	-56
Interest Expense	10	6.72	6.01	6.00	6.00	33	15	14	13	6.43	15
Interest & Investment Income	1.26	1.01	-1.44	-0.33	2.86	2.55	1.76	0.76	1.48	1.23	1.82
Other Income / (Expense), net	-52	0.38	-0.04	-0.11	-0.17	3.98	-0.08	-0.03	-66	-3.15	-43
Income Tax Expense	1.47	-1.12	-0.62	-0.24	0.57	-15	-5.55	-0.97	-68	1.12	-46
Preferred Stock Dividends Declared	7.63	7.81	8.09	7.98	7.95	7.98	7.87	7.09	6.28	-	0.00
Basic Earnings per Share	($0.63)	($0.26)	($0.27)	($0.06)	($0.22)	($0.37)	($0.30)	($0.37)	($0.24)	($0.11)	$0.02
Weighted Average Basic Shares Outstanding	115.32M	114.68M	114.86M	114.69M	114.14M	111.25M	112.28M	111.28M	107.78M	93.70M	95.29M
Diluted Earnings per Share	($0.63)	($0.26)	($0.27)	($0.06)	($0.22)	($0.37)	($0.30)	($0.37)	($0.24)	($0.11)	$0.02
Weighted Average Diluted Shares Outstanding	115.32M	114.68M	114.86M	114.69M	114.14M	111.25M	112.28M	111.28M	107.78M	93.70M	99.31M
Weighted Average Basic & Diluted Shares Outstanding	117.40M	116.59M	116.56M	116.29M	116.21M	115.43M	114.96M	113.24M	112.67M	111.05M	101.19M

This table details how cash moves in and out of Evolent Health's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015	12/31/2014
Net Change in Cash & Equivalents	-45	8.30	-140	-6.64	233	-260	93	125	18	152	0.00
Net Cash From Operating Activities	19	143	-12	39	-16	-43	-21	-28	-36	-18	0.00
Net Cash From Continuing Operating Activities	19	143	-12	39	-16	-43	-21	-28	-36	-18	0.00
Net Income / (Loss) Continuing Operations	-62	-113	-19	-38	-334	-306	-54	-70	-227	320	-25
Consolidated Net Income / (Loss)	-62	-113	-19	-38	-334	-306	-54	-70	-227	320	-25
Depreciation Expense	118	123	67	60	61	61	45	32	17	7.17	0.00
Amortization Expense	8.35	15	25	31	36	15	5.16	0.91	0.00	0.00	-
Non-Cash Adjustments To Reconcile Net Income	8.80	143	-37	-40	179	231	-3.93	11	180	-371	25
Changes in Operating Assets and Liabilities, net	-55	-25	-48	25	42	-44	-12	-2.90	-6.23	26	0.00
Net Cash From Investing Activities	-63	-416	-259	-16	261	-182	-160	-12	-97	-44	0.00
Net Cash From Continuing Investing Activities	-63	-416	-259	-16	261	-182	-160	-12	-97	-44	0.00
Purchase of Property, Plant & Equipment	-25	-29	-38	-25	-29	-36	-40	-28	-16	-6.52	0.00
Acquisitions	-31	-388	-248	-49	-0.30	-8.58	-130	-3.69	-	-	0.00
Purchase of Investments	-7.32	0.00	0.00	-3.00	-10	-93	-19	-4.93	-7.95	-54	0.00
Divestitures	0.00	0.58	22	46	157	0.00	0.50	0.00	0.00	13	0.00
Sale and/or Maturity of Investments	0.01	0.87	5.55	15	143	2.58	8.29	44	9.38	4.00	0.00
Net Cash From Financing Activities	-0.57	281	132	-30	-12	-36	274	166	150	214	0.00
Net Cash From Continuing Financing Activities	-0.57	281	132	-30	-12	-36	274	166	150	214	0.00
Repayment of Debt	0.00	-464	0.00	-99	-17	0.00	0.00	-4.20	-	0.00	-
Payment of Dividends	-20	-19	-15	-1.30	-20	0.00	0.00	-	-	-	-
Issuance of Debt	59	647	220	0.00	30	63	167	0.00	149	6.29	0.00
Issuance of Preferred Equity	0.00	168	0.00	0.00	-	-	-	-	-	-	-
Other Financing Activities, net	-39	-51	-73	71	-5.32	-98	107	2.81	1.62	0.15	0.00
Effect of Exchange Rate Changes	-0.23	-0.08	-0.66	-0.05	0.07	0.03	-	-	-	-	-

This table details how cash moves in and out of Evolent Health's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Change in Cash & Equivalents	99	51	-10	-96	10	-1.04	17	16	-23	20	-86
Net Cash From Operating Activities	4.57	-26	19	21	4.91	89	61	0.65	-7.97	36	-3.47
Net Cash From Continuing Operating Activities	4.57	-26	19	21	4.91	89	61	0.65	-7.97	36	-3.47
Net Income / (Loss) Continuing Operations	-65	-23	-23	1.60	-17	-33	-25	-34	-20	-11	2.12
Consolidated Net Income / (Loss)	-65	-23	-23	1.60	-17	-33	-25	-34	-20	-11	2.12
Depreciation Expense	24	29	30	30	30	30	32	32	29	20	17
Amortization Expense	2.39	2.09	2.17	2.00	2.09	3.84	3.33	4.39	3.20	8.83	2.27
Non-Cash Adjustments To Reconcile Net Income	64	26	-35	16	1.72	93	25	-6.41	31	12	-25
Changes in Operating Assets and Liabilities, net	-21	-61	45	-28	-11	-3.83	25	4.87	-51	6.21	-0.38
Net Cash From Investing Activities	-13	-20	-20	-14	-9.73	-6.05	-6.15	-8.35	-395	-4.46	-255
Net Cash From Continuing Investing Activities	-13	-20	-20	-14	-9.73	-6.05	-6.15	-8.35	-395	-4.46	-255
Purchase of Property, Plant & Equipment	-8.60	-6.15	-6.29	-7.11	-5.35	-6.05	-6.79	-6.85	-9.06	-11	-9.87
Acquisitions	-4.50	-14	-11	-4.56	-1.39	-	-	-1.52	-387	-3.09	-236
Purchase of Investments	0.00	-0.00	-2.44	-1.88	-3.00	-	-	-	0.00	-	-
Net Cash From Financing Activities	108	97	-9.01	-103	15	-84	-37	23	380	-11	173
Net Cash From Continuing Financing Activities	108	97	-9.01	-103	15	-84	-37	23	380	-11	173
Repayment of Debt	-63	-	-	-	0.00	-417	-10	-	-38	-	-
Payment of Dividends	-4.58	-4.81	-5.13	-5.07	-5.08	-5.16	-5.10	-4.88	-3.65	-	-
Issuance of Debt	221	59	-	-	-0.53	391	-	-0.27	256	-	220
Other Financing Activities, net	-46	43	-3.87	-98	20	-54	-22	28	-3.45	-11	-47
Effect of Exchange Rate Changes	0.02	-0.14	-0.03	-0.02	-0.04	-0.02	-0.11	-0.00	0.05	-0.05	-0.24

This table presents Evolent Health's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015	12/31/2014
Total Assets	2,544	2,680	1,817	1,419	1,372	1,498	1,722	1,313	1,200	1,016	37
Total Current Assets	607	684	478	524	548	229	488	378	265	184	0.00
Cash & Equivalents	104	193	188	266	319	101	228	238	135	146	0.00
Restricted Cash	59	14	14	76	14	20	155	62	34	4.70	0.00
Accounts Receivable	415	447	255	131	124	76	80	49	41	20	0.00
Prepaid Expenses	29	30	21	51	56	28	23	8.40	11	4.21	0.00
Plant, Property, & Equipment, net	73	78	88	81	86	85	74	51	31	13	0.00
Total Noncurrent Assets	1,864	1,918	1,251	814	738	1,184	1,161	884	904	818	37
Long-Term Investments	24	22	17	18	13	148	22	4.82	8.16	46	37
Goodwill	1,137	1,117	723	426	349	572	768	628	627	609	0.00
Intangible Assets	680	752	443	280	265	308	335	241	259	163	0.00
Other Noncurrent Operating Assets	23	28	69	90	90	156	35	9.33	10	0.00	-
Total Liabilities & Shareholders' Equity	2,544	2,680	1,817	1,419	1,372	1,498	1,722	1,313	1,200	1,016	37
Total Liabilities	1,353	1,434	958	726	752	569	533	266	288	81	0.00
Total Current Liabilities	716	674	433	445	403	193	269	133	132	60	0.00
Short-Term Debt	171	0.00	-	-	27	0.00	-	-	-	-	-
Accounts Payable	96	48	57	96	32	37	147	43	44	17	0.00
Accrued Expenses	66	150	111	107	73	33	49	30	29	6.05	0.00
Current Deferred Revenue	2.51	5.98	5.76	12	10	20	-	25	20	15	0.00
Current Employee Benefit Liabilities	34	56	52	52	47	35	25	35	38	22	0.00
Other Current Liabilities	345	414	207	178	186	67	48	0.00	-	-	-
Total Noncurrent Liabilities	637	760	524	280	349	376	264	134	156	21	0.00
Long-Term Debt	491	597	413	216	263	294	221	121	120	0.00	-
Noncurrent Deferred & Payable Income Tax Liabilities	11	13	4.74	1.40	0.68	1.94	25	2.44	21	21	0.00
Other Noncurrent Operating Liabilities	136	150	107	63	85	81	17	9.86	15	0.11	0.00
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	190	178	0.00	-	-	-	-	-	-	-	39
Total Equity & Noncontrolling Interests	1,001	1,068	859	694	620	929	1,189	1,046	912	935	-2.07
Total Preferred & Common Equity	1,001	1,068	859	694	620	922	1,144	1,011	703	649	-2.07
Total Common Equity	1,001	1,068	859	694	619	922	1,144	1,010	702	649	-2.07
Common Stock	1,805	1,809	1,488	1,342	1,229	1,175	1,094	924	555	343	24
Retained Earnings	-781	-719	-606	-627	-589	-252	50	86	147	307	-26
Accumulated Other Comprehensive Income / (Loss)	-1.75	-1.26	-1.18	-0.36	-0.28	-0.23	-0.18	0.00	-	-	-
Other Equity Adjustments	-21	-21	-21	-21	-	-	-	-	-	-	-

This table presents Evolent Health's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q3 2024	Q2 2024	Q1 2024	Q3 2023	Q2 2023	Q1 2023	Q3 2022
Period end date	3/31/2025	9/30/2024	6/30/2024	3/31/2024	9/30/2023	6/30/2023	3/31/2023	9/30/2022
Total Assets	2,653	2,502	2,475	2,644	2,670	2,647	2,589	1,759
Total Current Assets	728	544	521	669	639	577	476	394
Cash & Equivalents	247	97	101	165	185	143	158	157
Restricted Cash	16	16	20	52	23	47	22	25
Accounts Receivable	430	408	374	428	394	345	263	188
Prepaid Expenses	35	23	26	25	37	41	34	24
Plant, Property, & Equipment, net	74	74	75	76	80	84	89	95
Total Noncurrent Assets	1,851	1,884	1,879	1,898	1,951	1,987	2,025	1,271
Long-Term Investments	24	23	25	25	22	22	17	18
Goodwill	1,137	1,137	1,117	1,117	1,118	1,118	1,118	723
Intangible Assets	668	697	711	731	778	802	826	451
Other Noncurrent Operating Assets	22	26	26	26	34	45	64	78
Total Liabilities & Shareholders' Equity	2,653	2,502	2,475	2,644	2,670	2,647	2,589	1,759
Total Liabilities	1,525	1,276	1,237	1,414	1,398	1,381	1,297	903
Total Current Liabilities	739	524	483	659	615	541	458	382
Short-Term Debt	172	-	-	-	0.99	-	-	-
Accounts Payable	58	50	39	77	52	77	51	62
Accrued Expenses	100	120	85	165	194	167	170	132
Current Deferred Revenue	5.02	2.62	4.56	6.14	5.76	6.95	7.07	7.52
Current Employee Benefit Liabilities	36	32	31	29	50	38	28	38
Other Current Liabilities	369	319	324	381	313	252	202	143
Total Noncurrent Liabilities	786	752	754	755	783	840	839	521
Long-Term Debt	648	600	599	598	600	633	632	412
Noncurrent Deferred & Payable Income Tax Liabilities	11	12	13	13	27	146	148	3.61
Other Noncurrent Operating Liabilities	127	141	142	144	156	61	59	105
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	193	187	184	181	176	173	171	-
Total Equity & Noncontrolling Interests	936	1,039	1,054	1,048	1,096	1,093	1,122	856
Total Preferred & Common Equity	936	1,039	1,054	1,048	1,096	1,093	1,122	856
Total Common Equity	936	1,039	1,054	1,048	1,096	1,093	1,122	856
Common Stock	1,804	1,819	1,811	1,807	1,804	1,776	1,770	1,473
Retained Earnings	-845	-758	-735	-736	-686	-660	-626	-595
Accumulated Other Comprehensive Income / (Loss)	-1.73	-1.37	-1.36	-1.31	-1.27	-1.11	-1.12	-1.04
Other Equity Adjustments	-21	-21	-21	0.18	-21	-21	-21	-21

This table displays calculated financial ratios and metrics derived from Evolent Health's official financial filings.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015	12/31/2014
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	30.09%	45.26%	48.91%	-1.80%	34.57%	9.58%	44.17%	71.11%	162.38%	0.00%	-100.00%
EBITDA Growth	1,845.84%	-91.18%	3.57%	129.34%	29.08%	-10,741.50%	105.54%	82.04%	-158.20%	0.00%	100.00%
EBIT Growth	69.78%	-216.53%	0.72%	83.82%	15.00%	-551.59%	34.82%	69.32%	-163.97%	0.00%	100.00%
NOPAT Growth	43.15%	-2,055.27%	108.59%	83.86%	14.90%	-550.56%	34.82%	69.32%	-315.14%	0.00%	100.00%
Net Income Growth	45.49%	-489.86%	49.03%	88.75%	-9.38%	-463.89%	22.33%	69.24%	-170.91%	1,366.79%	-226.09%
EPS Growth	36.72%	-540.00%	54.55%	88.83%	-7.36%	-439.71%	27.66%	73.52%	-151.23%	151.49%	-1,459.60%
Operating Cash Flow Growth	-86.84%	1,334.16%	-129.82%	338.81%	61.95%	-106.50%	26.14%	21.27%	-92.28%	0.00%	100.00%
Free Cash Flow Firm Growth	86.95%	-22.06%	-1,100.61%	-118.05%	241.55%	7.22%	-72.49%	58.92%	67.65%	0.00%	0.00%
Invested Capital Growth	3.19%	53.39%	91.79%	2.25%	-43.62%	-5.25%	16.58%	6.31%	11.31%	0.00%	0.00%
Revenue Q/Q Growth	3.67%	9.70%	11.01%	0.20%	64.12%	-30.94%	14.49%	6.28%	19.77%	0.00%	0.00%
EBITDA Q/Q Growth	-3.25%	-62.86%	35.54%	-27.75%	54.83%	-306.94%	125.66%	34.12%	-8.00%	0.00%	0.00%
EBIT Q/Q Growth	-2.14%	-10.16%	14.66%	-63.42%	42.71%	-136.88%	9.35%	17.66%	-9.04%	0.00%	0.00%
NOPAT Q/Q Growth	6.37%	-37.64%	154.41%	-65.18%	42.74%	-136.51%	9.35%	17.66%	-9.04%	0.00%	0.00%
Net Income Q/Q Growth	14.69%	-24.25%	-42.36%	17.82%	35.69%	-146.78%	-7.43%	14.05%	-8.07%	0.00%	0.00%
EPS Q/Q Growth	11.96%	-25.49%	-33.33%	22.81%	35.94%	-147.97%	-11.48%	4.08%	-113.86%	0.00%	0.00%
Operating Cash Flow Q/Q Growth	-86.04%	60.39%	-159.53%	195.06%	-265.34%	47.22%	-299.49%	49.62%	-74.79%	-51.91%	0.00%
Free Cash Flow Firm Q/Q Growth	-4.71%	-0.16%	2.61%	33.15%	-1.98%	38.40%	-184.43%	70.21%	0.00%	0.00%	0.00%
Invested Capital Q/Q Growth	-1.36%	-1.73%	-1.48%	-1.72%	4.44%	-11.12%	11.98%	-1.16%	37.15%	0.00%	0.00%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	14.38%	23.45%	23.42%	27.58%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	0.00%
EBITDA Margin	3.38%	0.23%	3.72%	5.35%	-17.90%	-33.96%	0.35%	-9.09%	-86.63%	390.52%	0.00%
Operating Margin	-1.58%	-3.63%	0.27%	-4.67%	-28.43%	-44.95%	-7.57%	-16.75%	-93.40%	-44.36%	0.00%
EBIT Margin	-1.58%	-6.81%	-3.13%	-4.69%	-28.44%	-45.02%	-7.57%	-16.75%	-93.40%	383.12%	0.00%
Profit (Net Income) Margin	-2.41%	-5.76%	-1.42%	-4.14%	-36.15%	-44.47%	-8.64%	-16.04%	-89.22%	330.12%	0.00%
Tax Burden Percent	97.76%	55.85%	30.87%	126.17%	101.12%	92.60%	100.07%	91.31%	95.47%	93.16%	100.00%
Interest Burden Percent	155.96%	151.35%	146.92%	70.03%	125.70%	106.66%	114.05%	104.89%	100.05%	92.49%	0.00%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	6.84%	0.00%
Return on Invested Capital (ROIC)	-1.73%	-3.74%	0.32%	-5.47%	-24.71%	-22.10%	-3.56%	-6.10%	-21.59%	-10.99%	0.00%
ROIC Less NNEP Spread (ROIC-NNEP)	-9.62%	-26.22%	-88.98%	1.49%	479.37%	88.74%	7.81%	7.06%	17.84%	-306.82%	0.00%
Return on Net Nonoperating Assets (RNNOA)	-3.33%	-7.00%	-2.79%	-0.26%	-18.45%	-6.75%	-1.29%	-1.03%	-2.97%	76.81%	0.00%
Return on Equity (ROE)	-5.06%	-10.74%	-2.47%	-5.73%	-43.17%	-28.85%	-4.85%	-7.12%	-24.56%	65.82%	-67.86%
Cash Return on Invested Capital (CROIC)	-4.87%	-45.88%	-62.60%	-7.69%	31.07%	-16.70%	-18.87%	-12.21%	-32.30%	-210.99%	0.00%
Operating Return on Assets (OROA)	-1.55%	-5.95%	-2.61%	-3.05%	-18.33%	-19.21%	-3.13%	-5.80%	-21.43%	70.51%	0.00%
Return on Assets (ROA)	-2.36%	-5.03%	-1.18%	-2.69%	-23.29%	-18.98%	-3.57%	-5.55%	-20.47%	60.76%	0.00%
Return on Common Equity (ROCE)	-4.29%	-9.83%	-2.47%	-5.72%	-42.96%	-28.14%	-4.67%	-6.23%	-17.97%	43.84%	3.78%
Return on Equity Simple (ROE_SIMPLE)	-6.15%	-10.59%	-2.23%	-5.42%	-53.95%	-33.13%	-4.74%	-6.90%	-32.28%	49.25%	1,219.61%
Net Operating Profit after Tax (NOPAT)	-28	-50	2.55	-30	-184	-216	-33	-51	-166	-40	0.00
NOPAT Margin	-1.11%	-2.54%	0.19%	-3.27%	-19.90%	-31.47%	-5.30%	-11.72%	-65.38%	-41.32%	0.00%
Net Nonoperating Expense Percent (NNEP)	7.89%	22.49%	89.30%	-6.96%	-504.08%	-110.84%	-11.37%	-13.16%	-39.43%	295.83%	-135.72%
Return On Investment Capital (ROIC_SIMPLE)	-1.70%	-2.99%	0.20%	-	-	-	-	-	-	-	-
Cost of Revenue to Revenue	85.62%	76.55%	76.58%	72.42%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	10.30%	18.23%	19.92%	24.18%	22.76%	34.41%	37.54%	47.29%	63.22%	77.71%	0.00%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	15.96%	27.07%	23.15%	32.25%	128.43%	144.95%	107.55%	116.71%	193.40%	144.36%	0.00%
Earnings before Interest and Taxes (EBIT)	-40	-134	-42	-43	-263	-309	-47	-73	-237	371	0.00
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	86	4.44	50	49	-166	-233	2.19	-40	-220	378	0.00
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.31	3.56	3.31	3.57	2.22	0.83	1.43	0.94	1.43	1.10	0.00
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	291.32	18.30	40.34	6.76	0.00	0.00	0.00
Price to Revenue (P/Rev)	0.51	1.93	2.10	2.72	1.49	1.11	2.62	2.19	3.95	7.38	0.00
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	2.15	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	46.54%	0.00%
Enterprise Value to Invested Capital (EV/IC)	1.19	2.69	2.88	4.24	2.46	0.84	1.49	0.93	1.37	1.09	0.00
Enterprise Value to Revenue (EV/Rev)	0.77	2.21	2.24	2.57	1.43	1.16	2.39	1.84	4.38	8.19	0.00
Enterprise Value to EBITDA (EV/EBITDA)	22.90	979.54	60.33	47.96	0.00	0.00	684.72	0.00	0.00	2.10	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	2.14	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	1,190.40	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	105.32	30.47	0.00	60.11	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	5.70	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.56	0.48	0.48	0.31	0.47	0.32	0.19	0.12	0.13	0.00	0.00
Long-Term Debt to Equity	0.41	0.48	0.48	0.31	0.43	0.32	0.19	0.12	0.13	0.00	0.00
Financial Leverage	0.35	0.27	0.03	-0.17	-0.04	-0.08	-0.16	-0.15	-0.17	-0.25	-1.00
Leverage Ratio	2.14	2.14	2.08	2.13	1.85	1.52	1.36	1.28	1.20	1.08	1.00
Compound Leverage Factor	3.34	3.23	3.06	1.49	2.33	1.62	1.55	1.35	1.20	1.00	0.00
Debt to Total Capital	35.72%	32.39%	32.46%	23.72%	31.87%	24.02%	15.67%	10.40%	11.65%	0.00%	0.00%
Short-Term Debt to Total Capital	9.25%	0.00%	0.00%	0.00%	2.92%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	26.47%	32.39%	32.46%	23.72%	28.95%	24.02%	15.67%	10.40%	11.65%	0.00%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	10.26%	9.68%	0.00%	0.00%	0.00%	0.55%	3.23%	3.03%	20.30%	30.52%	105.56%
Common Equity to Total Capital	54.02%	57.93%	67.54%	76.28%	68.03%	75.44%	81.10%	86.50%	67.98%	69.48%	-5.57%
Debt to EBITDA	7.67	134.62	8.21	4.44	-1.75	-1.26	100.79	-3.07	-0.55	0.00	0.00
Net Debt to EBITDA	5.50	83.13	3.84	-2.98	0.34	-0.10	-84.08	4.66	0.46	0.00	0.00
Long-Term Debt to EBITDA	5.68	134.62	8.21	4.44	-1.59	-1.26	100.79	-3.07	-0.55	0.00	0.00
Debt to NOPAT	-23.36	-11.98	161.99	-7.26	-1.58	-1.36	-6.65	-2.38	-0.72	0.00	0.00
Net Debt to NOPAT	-16.76	-7.40	75.84	4.87	0.31	-0.11	5.55	3.61	0.61	0.00	0.00
Long-Term Debt to NOPAT	-17.31	-11.98	161.99	-7.26	-1.43	-1.36	-6.65	-2.38	-0.72	0.00	0.00
Altman Z-Score	1.05	1.79	2.01	2.03	0.66	0.38	2.31	2.61	1.96	7.17	0.00
Noncontrolling Interest Sharing Ratio	15.12%	8.47%	0.00%	0.07%	0.49%	2.47%	3.66%	12.58%	26.83%	33.39%	105.57%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.85	1.01	1.10	1.18	1.36	1.19	1.81	2.85	2.01	3.10	0.00
Quick Ratio	0.73	0.95	1.02	0.89	1.10	0.93	1.15	2.32	1.66	2.95	0.00
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-80	-612	-501	-42	231	-163	-176	-102	-249	-769	0.00
Operating Cash Flow to CapEx	75.38%	496.02%	-30.12%	155.09%	-55.05%	-120.01%	-52.21%	-100.40%	-228.71%	-283.47%	0.00%
Free Cash Flow to Firm to Interest Expense	-3.23	-8.14	-19.46	-0.89	6.99	-11.23	-32.12	-28.09	-1,006.50	0.00	0.00
Operating Cash Flow to Interest Expense	0.76	1.90	-0.45	0.83	-0.49	-2.93	-3.77	-7.69	-143.77	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	-0.25	1.51	-1.94	0.29	-1.38	-5.37	-10.98	-15.35	-206.62	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.98	0.87	0.84	0.65	0.64	0.43	0.41	0.35	0.23	0.18	0.00
Accounts Receivable Turnover	5.93	5.60	7.02	7.13	9.26	8.82	9.71	9.71	8.33	0.00	0.00
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	33.76	23.65	15.98	10.83	10.79	8.65	10.07	10.60	11.56	0.00	0.00
Accounts Payable Turnover	30.32	28.52	13.51	10.27	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Sales Outstanding (DSO)	61.54	65.18	52.01	51.19	39.42	41.40	37.59	37.59	43.81	0.00	0.00
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	12.04	12.80	27.01	35.54	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Cash Conversion Cycle (CCC)	49.50	52.39	25.00	15.65	39.42	41.40	37.59	37.59	43.81	0.00	0.00
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,666	1,615	1,053	549	537	952	1,005	862	811	729	0.00
Invested Capital Turnover	1.56	1.47	1.69	1.67	1.24	0.70	0.67	0.52	0.33	0.27	0.00
Increase / (Decrease) in Invested Capital	52	562	504	12	-415	-53	143	51	82	729	0.00
Enterprise Value (EV)	1,976	4,344	3,035	2,329	1,318	796	1,502	802	1,114	794	0.00
Market Capitalization	1,311	3,797	2,841	2,474	1,375	766	1,640	951	1,005	714	0.00
Book Value per Share	$8.59	$9.29	$8.49	$7.76	$7.21	$10.90	$13.91	$13.06	$10.33	$11.01	($0.90)
Tangible Book Value per Share	($7.00)	($6.97)	($3.03)	($0.14)	$0.06	$0.49	$0.49	$1.82	($2.70)	($2.08)	($0.90)
Total Capital	1,853	1,843	1,272	909	910	1,223	1,410	1,168	1,032	935	37
Total Debt	662	597	413	216	290	294	221	121	120	0.00	0.00
Total Long-Term Debt	491	597	413	216	263	294	221	121	120	0.00	0.00
Net Debt	475	369	193	-145	-57	23	-184	-184	-101	-206	-37
Capital Expenditures (CapEx)	25	29	38	25	29	36	40	28	16	6.52	0.00
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-100	-197	-158	-263	-162	-87	-164	-55	-80	-35	0.00
Debt-free Net Working Capital (DFNWC)	63	9.43	45	78	171	36	219	245	133	125	0.00
Net Working Capital (NWC)	-108	9.43	45	78	144	36	219	245	133	125	0.00
Net Nonoperating Expense (NNE)	33	63	22	7.91	150	89	21	19	61	-360	25
Net Nonoperating Obligations (NNO)	475	369	193	-145	-83	23	-184	-184	-101	-206	-37
Total Depreciation and Amortization (D&A)	127	138	93	91	97	76	50	33	17	7.17	0.00
Debt-free, Cash-free Net Working Capital to Revenue	-3.93%	-10.04%	-11.69%	-29.02%	-17.57%	-12.64%	-26.22%	-12.73%	-31.59%	-36.04%	0.00%
Debt-free Net Working Capital to Revenue	2.47%	0.48%	3.30%	8.64%	18.48%	5.24%	34.86%	56.44%	52.33%	128.98%	0.00%
Net Working Capital to Revenue	-4.24%	0.48%	3.30%	8.64%	15.61%	5.24%	34.86%	56.44%	52.33%	128.98%	0.00%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.81)	($1.28)	($0.20)	($0.44)	($3.94)	($3.67)	($0.68)	($0.94)	($3.55)	$13.14	($13.46)
Adjusted Weighted Average Basic Shares Outstanding	114.68M	111.25M	93.70M	86.07M	86.09M	84.72M	82.57M	64.35M	45.03M	25.13M	2.31M
Adjusted Diluted Earnings per Share	($0.81)	($1.28)	($0.20)	($0.44)	($3.94)	($3.67)	($0.68)	($0.94)	($3.55)	$6.93	($13.46)
Adjusted Weighted Average Diluted Shares Outstanding	114.68M	111.25M	93.70M	86.07M	86.09M	84.72M	82.57M	64.35M	45.03M	46.14M	2.31M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	($3.94)	($3.67)	($0.68)	$0.00	($3.55)	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	116.59M	115.43M	111.05M	90.83M	84.93M	82.36M	77.34M	77.44M	67.96M	60.08M	1.90M
Normalized Net Operating Profit after Tax (NOPAT)	-23	-15	-14	-20	-30	-86	-36	-51	-55	-40	0.00
Normalized NOPAT Margin	-0.90%	-0.75%	-1.03%	-2.25%	-3.27%	-12.50%	-5.76%	-11.66%	-21.73%	-41.32%	0.00%
Pre Tax Income Margin	-2.47%	-10.31%	-4.59%	-3.28%	-35.75%	-48.02%	-8.64%	-17.57%	-93.45%	354.35%	0.00%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-1.63	-1.78	-1.64	-0.91	-7.94	-21.26	-8.66	-20.03	-961.21	0.00	0.00
NOPAT to Interest Expense	-1.15	-0.66	0.10	-0.63	-5.56	-14.86	-6.06	-14.02	-672.85	0.00	0.00
EBIT Less CapEx to Interest Expense	-2.64	-2.16	-3.13	-1.44	-8.83	-23.70	-15.87	-27.69	-1,024.07	0.00	0.00
NOPAT Less CapEx to Interest Expense	-2.15	-1.04	-1.39	-1.17	-6.45	-17.30	-13.27	-21.68	-735.71	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	-32.59%	-16.63%	-77.67%	-3.46%	-5.98%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	-32.59%	-16.63%	-77.67%	-3.46%	-5.98%	0.00%	0.00%	0.00%	0.00%	0.43%	0.00%

This table displays calculated financial ratios and metrics derived from Evolent Health's official financial filings.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-24.39%	16.27%	21.60%	37.94%	49.56%	45.40%	44.93%	46.63%	43.98%	53.98%	58.49%
EBITDA Growth	-253.03%	-18.05%	-12.18%	164.97%	140.68%	-31.83%	264.02%	16.49%	-279.18%	127.00%	-174.94%
EBIT Growth	-297.95%	-4.88%	9.46%	135.58%	82.32%	-245.22%	40.47%	-398.02%	-2,829.73%	59.05%	-357.02%
NOPAT Growth	87.90%	12.90%	9.31%	160.62%	-29.49%	-1,036.85%	-238.51%	-365.53%	-270.09%	90.83%	296.79%
Net Income Growth	-273.95%	31.75%	8.64%	104.65%	13.52%	-194.40%	-1,292.84%	-648.10%	-273.50%	-100.97%	116.28%
EPS Growth	-186.36%	29.73%	10.00%	83.78%	8.33%	-236.36%	-1,600.00%	-640.00%	-300.00%	-83.33%	113.33%
Operating Cash Flow Growth	-7.01%	-129.35%	-69.15%	3,174.77%	161.56%	150.40%	1,844.12%	-95.21%	86.12%	-46.45%	-107.80%
Free Cash Flow Firm Growth	-157.84%	88.82%	90.23%	100.53%	112.06%	-14.22%	-17.23%	-6,711.20%	-1,105.61%	-1,812.89%	-920.47%
Invested Capital Growth	4.81%	3.19%	2.80%	0.20%	-8.28%	53.39%	53.79%	175.70%	175.54%	91.79%	91.33%
Revenue Q/Q Growth	-25.19%	4.05%	-3.98%	1.17%	15.03%	8.81%	8.93%	9.69%	11.83%	8.47%	10.20%
EBITDA Q/Q Growth	-309.30%	-15.35%	-60.66%	119.53%	12.09%	-9.29%	18.71%	133.71%	-287.81%	318.25%	-184.31%
EBIT Q/Q Growth	-196.56%	-11.67%	-312.30%	156.60%	21.84%	3.59%	16.57%	71.87%	-1,425.72%	83.38%	-597.97%
NOPAT Q/Q Growth	91.28%	-14.31%	-224.42%	197.51%	37.19%	-19.02%	16.83%	-108.29%	-451.38%	-114.50%	379.54%
Net Income Q/Q Growth	-183.39%	1.45%	-1,549.69%	109.24%	48.28%	-31.93%	26.22%	-71.77%	-76.07%	-634.57%	146.27%
EPS Q/Q Growth	-142.31%	3.70%	-350.00%	72.73%	40.54%	-23.33%	18.92%	-54.17%	-118.18%	-650.00%	140.00%
Operating Cash Flow Q/Q Growth	117.40%	-240.50%	-12.83%	336.28%	-94.51%	47.69%	9,153.98%	108.20%	-122.34%	1,128.67%	-125.40%
Free Cash Flow Firm Q/Q Growth	-19.86%	-12.46%	-1,084.21%	-95.64%	123.18%	1.75%	46.14%	1.64%	-119.42%	-0.84%	-3,029.57%
Invested Capital Q/Q Growth	-0.28%	-1.36%	-0.08%	6.63%	-1.82%	-1.73%	-2.60%	-2.39%	64.19%	-1.48%	74.61%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	21.19%	11.71%	12.99%	16.51%	16.28%	18.28%	24.35%	24.98%	27.41%	21.72%	24.38%
EBITDA Margin	-5.70%	2.04%	2.50%	6.11%	2.82%	2.89%	3.47%	3.18%	-10.35%	6.17%	-3.06%
Operating Margin	-0.34%	-2.88%	-2.62%	1.20%	-2.10%	-3.84%	-3.51%	-4.60%	-2.42%	-0.49%	3.67%
EBIT Margin	-11.17%	-2.82%	-2.62%	1.19%	-2.12%	-3.12%	-3.53%	-4.60%	-17.95%	-1.32%	-8.58%
Profit (Net Income) Margin	-13.36%	-3.53%	-3.72%	0.25%	-2.70%	-6.01%	-4.96%	-7.32%	-4.67%	-2.97%	0.60%
Tax Burden Percent	102.33%	95.31%	97.39%	117.53%	103.38%	69.51%	82.02%	97.25%	22.66%	110.97%	-4.89%
Interest Burden Percent	116.90%	131.34%	145.64%	17.68%	123.14%	276.76%	171.38%	163.44%	114.87%	203.28%	143.38%
Effective Tax Rate	0.00%	0.00%	0.00%	-17.53%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	-0.35%	-3.14%	-2.71%	1.97%	-1.93%	-3.96%	-3.24%	-4.57%	-2.13%	-0.58%	3.85%
ROIC Less NNEP Spread (ROIC-NNEP)	-14.63%	-5.46%	-5.52%	0.24%	-3.92%	-10.53%	-7.62%	-13.72%	-7.76%	-41.85%	-4.65%
Return on Net Nonoperating Assets (RNNOA)	-5.52%	-1.89%	-1.85%	0.08%	-1.23%	-2.81%	-2.09%	-3.07%	-1.84%	-1.31%	-0.52%
Return on Equity (ROE)	-5.86%	-5.02%	-4.56%	2.06%	-3.16%	-6.77%	-5.33%	-7.64%	-3.98%	-1.89%	3.33%
Cash Return on Invested Capital (CROIC)	-5.93%	-4.87%	-4.58%	-2.06%	5.50%	-45.88%	-45.06%	-94.80%	-93.72%	-62.60%	-63.27%
Operating Return on Assets (OROA)	-10.12%	-2.76%	-2.50%	1.09%	-1.76%	-2.73%	-2.85%	-3.80%	-13.55%	-1.10%	-6.94%
Return on Assets (ROA)	-12.10%	-3.45%	-3.55%	0.23%	-2.25%	-5.25%	-4.01%	-6.04%	-3.53%	-2.48%	0.49%
Return on Common Equity (ROCE)	-4.93%	-4.26%	-3.90%	1.76%	-2.72%	-6.19%	-4.89%	-6.93%	-3.62%	-1.89%	3.33%
Return on Equity Simple (ROE_SIMPLE)	-11.65%	0.00%	-6.95%	-7.06%	-10.53%	0.00%	-8.30%	-5.81%	-3.01%	0.00%	-1.57%
Net Operating Profit after Tax (NOPAT)	-1.14	-13	-11	9.15	-9.39	-15	-13	-15	-7.25	-1.31	9.07
NOPAT Margin	-0.23%	-2.01%	-1.83%	1.41%	-1.47%	-2.69%	-2.46%	-3.22%	-1.69%	-0.34%	2.57%
Net Nonoperating Expense Percent (NNEP)	14.28%	2.32%	2.81%	1.73%	1.99%	6.57%	4.37%	9.15%	5.63%	41.27%	8.50%
Return On Investment Capital (ROIC_SIMPLE)	-0.06%	-0.78%	-	-	-	-0.90%	-	-	-	-0.10%	-
Cost of Revenue to Revenue	78.81%	88.29%	87.01%	83.49%	83.72%	81.72%	75.65%	75.02%	72.59%	78.28%	75.62%
SG&A Expenses to Revenue	16.21%	7.38%	10.79%	10.69%	12.37%	14.64%	18.90%	19.27%	20.98%	21.67%	19.43%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	21.52%	14.59%	15.60%	15.31%	18.37%	22.12%	27.86%	29.58%	29.83%	22.21%	20.71%
Earnings before Interest and Taxes (EBIT)	-54	-18	-16	7.68	-14	-17	-18	-22	-77	-5.03	-30
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-28	13	16	40	18	16	18	15	-44	24	-11
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.18	1.31	3.17	2.11	3.60	3.56	2.81	3.12	3.21	3.31	3.85
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	0.46	0.51	1.33	0.94	1.73	1.93	1.72	2.09	2.43	2.10	2.70
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	1.10	1.19	2.33	1.69	2.72	2.69	2.21	2.38	2.44	2.88	3.28
Enterprise Value to Revenue (EV/Rev)	0.76	0.77	1.60	1.21	1.98	2.21	2.03	2.46	2.84	2.24	2.88
Enterprise Value to EBITDA (EV/EBITDA)	44.96	22.90	44.16	31.29	64.54	979.54	304.09	0.00	0.00	60.33	94.48
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	1,190.40	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	99.36	105.32	29.32	16.22	27.70	30.47	40.84	160.92	111.05	0.00	180.65
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	47.27	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.73	0.56	0.49	0.48	0.49	0.48	0.47	0.50	0.49	0.48	0.48
Long-Term Debt to Equity	0.57	0.41	0.49	0.48	0.49	0.48	0.47	0.50	0.49	0.48	0.48
Financial Leverage	0.38	0.35	0.33	0.35	0.31	0.27	0.27	0.22	0.24	0.03	0.11
Leverage Ratio	2.25	2.14	2.07	2.05	2.08	2.14	2.08	2.10	2.06	2.08	2.06
Compound Leverage Factor	2.63	2.82	3.02	0.36	2.56	5.91	3.57	3.44	2.37	4.24	2.95
Debt to Total Capital	42.06%	35.72%	32.85%	32.60%	32.72%	32.39%	32.09%	33.33%	32.85%	32.46%	32.51%
Short-Term Debt to Total Capital	8.82%	9.25%	0.00%	0.00%	0.00%	0.00%	0.05%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	33.24%	26.47%	32.85%	32.60%	32.72%	32.39%	32.04%	33.33%	32.85%	32.46%	32.51%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	9.92%	10.26%	10.25%	10.03%	9.92%	9.68%	9.38%	9.10%	8.87%	0.00%	0.00%
Common Equity to Total Capital	48.02%	54.02%	56.90%	57.37%	57.36%	57.93%	58.53%	57.57%	58.28%	67.54%	67.49%
Debt to EBITDA	20.12	7.67	6.72	6.55	8.96	134.62	50.33	-38.17	-33.82	8.21	11.11
Net Debt to EBITDA	13.09	5.50	5.20	4.95	5.34	83.13	31.12	-25.40	-23.33	3.84	5.72
Long-Term Debt to EBITDA	15.90	5.68	6.72	6.55	8.96	134.62	50.25	-38.17	-33.82	8.21	11.11
Debt to NOPAT	-40.79	-23.36	-19.81	-19.05	-11.50	-11.98	-16.59	-43.37	-230.72	161.99	-88.02
Net Debt to NOPAT	-26.53	-16.76	-15.31	-14.39	-6.85	-7.40	-10.26	-28.86	-159.17	75.84	-45.33
Long-Term Debt to NOPAT	-32.23	-17.31	-19.81	-19.05	-11.50	-11.98	-16.57	-43.37	-230.72	161.99	-88.02
Altman Z-Score	0.82	1.08	2.10	1.64	2.02	1.93	1.62	1.74	1.81	2.08	2.36
Noncontrolling Interest Sharing Ratio	15.88%	15.12%	14.53%	14.26%	13.95%	8.47%	8.25%	9.20%	9.01%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.98	0.85	1.04	1.08	1.02	1.01	1.04	1.07	1.04	1.10	1.03
Quick Ratio	0.92	0.73	0.96	0.98	0.90	0.95	0.94	0.90	0.92	1.02	0.90
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-77	-65	-57	5.83	134	-577	-587	-1,090	-1,108	-505	-501
Operating Cash Flow to CapEx	53.11%	-426.45%	296.87%	301.39%	91.81%	1,476.88%	890.93%	9.55%	-88.06%	332.26%	-35.14%
Free Cash Flow to Firm to Interest Expense	-7.45	-9.60	-9.55	0.97	22.30	-17.35	-40.19	-75.41	-85.96	-78.58	-33.52
Operating Cash Flow to Interest Expense	0.44	-3.90	3.11	3.57	0.82	2.69	4.14	0.05	-0.62	5.55	-0.23
Operating Cash Flow Less CapEx to Interest Expense	-0.39	-4.82	2.06	2.39	-0.07	2.51	3.68	-0.43	-1.32	3.88	-0.89
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.91	0.98	0.95	0.92	0.83	0.87	0.81	0.83	0.75	0.84	0.81
Accounts Receivable Turnover	5.59	5.93	6.14	6.55	6.30	5.60	6.15	7.04	6.71	7.02	6.71
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	31.88	33.76	32.04	29.64	26.43	23.65	20.51	18.53	17.29	15.98	13.82
Accounts Payable Turnover	30.08	30.32	40.66	33.05	26.93	28.52	23.73	14.16	19.58	13.51	27.97
Days Sales Outstanding (DSO)	65.30	61.54	59.41	55.75	57.92	65.18	59.32	51.87	54.41	52.01	54.37
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	12.13	12.04	8.98	11.04	13.55	12.80	15.38	25.78	18.64	27.01	13.05
Cash Conversion Cycle (CCC)	53.16	49.50	50.43	44.70	44.36	52.39	43.93	26.09	35.77	25.00	41.32
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,662	1,666	1,689	1,691	1,585	1,615	1,643	1,687	1,729	1,053	1,069
Invested Capital Turnover	1.48	1.56	1.48	1.39	1.31	1.47	1.32	1.42	1.26	1.69	1.50
Increase / (Decrease) in Invested Capital	76	52	46	3.32	-143	562	575	1,075	1,101	504	510
Enterprise Value (EV)	1,830	1,976	3,939	2,859	4,307	4,344	3,631	4,008	4,210	3,035	3,506
Market Capitalization	1,104	1,311	3,289	2,222	3,770	3,797	3,084	3,414	3,604	2,841	3,294
Book Value per Share	$8.02	$8.59	$8.93	$9.07	$9.18	$9.29	$9.68	$9.70	$10.10	$8.49	$9.34
Tangible Book Value per Share	($7.46)	($7.00)	($6.84)	($6.66)	($7.01)	($6.97)	($7.06)	($7.33)	($7.40)	($3.03)	($3.47)
Total Capital	1,948	1,853	1,826	1,837	1,827	1,843	1,873	1,899	1,925	1,272	1,269
Total Debt	819	662	600	599	598	597	601	633	632	413	412
Total Long-Term Debt	648	491	600	599	598	597	600	633	632	413	412
Net Debt	533	475	463	452	356	369	372	421	436	193	212
Capital Expenditures (CapEx)	8.60	6.15	6.29	7.11	5.35	6.05	6.79	6.85	9.06	11	9.87
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-102	-100	-93	-84	-207	-197	-183	-154	-161	-158	-170
Debt-free Net Working Capital (DFNWC)	161	63	20	38	10	9.43	24	36	18	45	12
Net Working Capital (NWC)	-11	-108	20	38	10	9.43	24	36	18	45	12
Net Nonoperating Expense (NNE)	63	9.78	12	7.56	7.89	18	13	19	13	10	6.94
Net Nonoperating Obligations (NNO)	533	475	463	452	356	369	372	421	436	193	212
Total Depreciation and Amortization (D&A)	26	31	32	32	32	33	36	37	32	29	19
Debt-free, Cash-free Net Working Capital to Revenue	-4.26%	-3.93%	-3.76%	-3.56%	-9.49%	-10.04%	-10.24%	-9.45%	-10.87%	-11.69%	-13.96%
Debt-free Net Working Capital to Revenue	6.70%	2.47%	0.82%	1.60%	0.47%	0.48%	1.37%	2.19%	1.24%	3.30%	0.96%
Net Working Capital to Revenue	-0.47%	-4.24%	0.82%	1.60%	0.47%	0.48%	1.31%	2.19%	1.24%	3.30%	0.96%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.63)	($0.26)	($0.27)	($0.06)	($0.22)	($0.37)	($0.30)	($0.37)	($0.24)	($0.11)	$0.02
Adjusted Weighted Average Basic Shares Outstanding	115.32M	114.68M	114.86M	114.69M	114.14M	111.25M	112.28M	111.28M	107.78M	93.70M	95.29M
Adjusted Diluted Earnings per Share	($0.63)	($0.26)	($0.27)	($0.06)	($0.22)	($0.37)	($0.30)	($0.37)	($0.24)	($0.11)	$0.02
Adjusted Weighted Average Diluted Shares Outstanding	115.32M	114.68M	114.86M	114.69M	114.14M	111.25M	112.28M	111.28M	107.78M	93.70M	99.31M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	117.40M	116.59M	116.56M	116.29M	116.21M	115.43M	114.96M	113.24M	112.67M	111.05M	101.19M
Normalized Net Operating Profit after Tax (NOPAT)	-1.33	-16	-11	5.45	-3.15	-6.58	-3.18	-3.73	-1.25	-14	0.18
Normalized NOPAT Margin	-0.28%	-2.47%	-1.81%	0.84%	-0.49%	-1.18%	-0.62%	-0.79%	-0.29%	-3.58%	0.05%
Pre Tax Income Margin	-13.06%	-3.70%	-3.82%	0.21%	-2.61%	-8.64%	-6.04%	-7.52%	-20.62%	-2.67%	-12.31%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-5.20	-2.71	-2.71	1.28	-2.26	-0.52	-1.23	-1.49	-5.95	-0.78	-2.02
NOPAT to Interest Expense	-0.11	-1.94	-1.89	1.53	-1.57	-0.45	-0.86	-1.04	-0.56	-0.20	0.61
EBIT Less CapEx to Interest Expense	-6.03	-3.63	-3.76	0.10	-3.16	-0.70	-1.70	-1.97	-6.65	-2.45	-2.69
NOPAT Less CapEx to Interest Expense	-0.94	-2.85	-2.94	0.34	-2.46	-0.63	-1.32	-1.52	-1.26	-1.88	-0.05
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	-17.97%	-32.59%	-28.30%	-27.42%	-18.33%	-16.63%	-14.98%	-13.43%	-51.59%	-77.67%	-110.56%
Augmented Payout Ratio	-17.97%	-32.59%	-28.30%	-27.42%	-18.33%	-16.63%	-14.98%	-13.43%	-51.59%	-77.67%	-110.56%

Frequently Asked Questions About Evolent Health's Financials

When does Evolent Health's financial year end?

According to the most recent income statement we have on file, Evolent Health's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Evolent Health's net income changed over the last 10 years?

Evolent Health's net income appears to be on an upward trend, with a most recent value of -$61.62 million in 2024, rising from -$25.25 million in 2014. The previous period was -$113.04 million in 2023. Find out what analysts predict for Evolent Health in the coming months.

What is Evolent Health's operating income?

Evolent Health's total operating income in 2024 was -$40.49 million, based on the following breakdown:

Total Gross Profit: $367.35 million
Total Operating Expenses: $407.84 million

How has Evolent Health revenue changed over the last 10 years?

Over the last 10 years, Evolent Health's total revenue changed from $0.00 in 2014 to $2.55 billion in 2024, a change of 255,474,100,000.0%.

How much debt does Evolent Health have?

Evolent Health's total liabilities were at $1.35 billion at the end of 2024, a 5.7% decrease from 2023, and a 135,297,900,000.0% increase since 2014.

How much cash does Evolent Health have?

In the past 10 years, Evolent Health's cash and equivalents has ranged from $0.00 in 2014 to $319.00 million in 2020, and is currently $104.20 million as of their latest financial filing in 2024.

How has Evolent Health's book value per share changed over the last 10 years?

Over the last 10 years, Evolent Health's book value per share changed from -0.90 in 2014 to 8.59 in 2024, a change of -1,058.8%.

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This page (NYSE:EVH) was last updated on 5/25/2025 by MarketBeat.com Staff

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Evolent Health (EVH) Financials

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