Evolent Health, Inc. (EVH) Stock

Evolent Health, Inc. (EVH) is a Technology stock trading at $4.89 (as of 2026-08-25), with a market capitalization of $553.43M. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Evolent Health, Inc. provides clinical and administrative solutions through its subsidiary for payers and providers in the United States. It operates two segments: Evolent Health Services, offering health plan administration and population health management services supported by its Identifi platform, and Clinical Solutions, which provides specialty care management and total cost of care improvement.

Understand Evolent Health, Inc.: how it makes money

Evolent Health operates a clinical and administrative platform serving U.S. health plans and providers, earning per-member and per-case fees for management services. Revenue scales with the number of member lives on the platform, making volume growth the core engine of the business.

The profit model converts member-lives volume into per-member administrative fees, but the spread between fee revenue and delivery cost is narrow, so scale and pricing power determine whether the P&L ever turns positive.

Business quality (Weak): Low gross margin and an operating loss mark this as a weak-quality name today; the entire investment case rests on growth outpacing the cost base.

Bull case

  • Exceptional top-line momentum: Quarterly revenue hit $700M, up 47% year over year, showing the platform is winning meaningful market share from payers and providers at a pace few healthcare services firms can match.

Bear case

  • Losses persist despite scale: Gross margin is 12% and operating margin sits at -2%, meaning the company is still losing money on every dollar of operating profit even at this revenue level. The thin fee-to-cost spread leaves little room if growth decelerates.
Valuation — source: SEC EDGAR (first-party)
Price$4.89
Market Cap$553.43M
Price / Book1.44
Price / Sales0.26
DCF Value (model)$8.56
DCF Upside vs Price74.9%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$1.88B
Net Margin-28.5%
Revenue Growth (YoY)46.9%
EPS Growth (YoY)-43.2%
Financial Health — source: SEC EDGAR
Altman Z-Score-0.40 (distress)
Piotroski F-Score5/9 (moderate)
Valuation vs Sector & Industry
Sector P/E (Technology)34.1
Industry P/E (Business Services)30.0
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderVANGUARD GROUP INC ($35.66M)
Institutional Holders Tracked10
Company
SectorTechnology
IndustryBusiness Services
CEOSeth Barrie Blackley
Employees4,500
CountryUS
IPO Date2015-06-05

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EVH earnings history · EVH institutional & insider holders · EVH KPIs & operating metrics · EVH financials · EVH investor presentations & press releases · EVH SEC filings · EVH peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-08-25.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.