EVHEvolent Health, Inc.
Services-Management Services
- Revenue
- $1.9B
- 27% YoY
- Operating margin
- -21.9%
- 1279% YoY
- EBITDA
- −$294M
- 478% YoY
- Market cap
- —
- Employees
- —
- Net debt / EBITDA
- —
- $170M net debt
- AI in 10-K
- —
Red flags 1 of 9
- TSR below peersClear—3+ of last 5 years
- High CEO pay despite TSRClear—Median CEO pay ≥ $15M and TSR flag
- Active 13DClear0 filingsActive-intent 13D in 18 months
- Net insider sellingClear$0 netNet sales over $10M in 12 months
- Earnings not backed by cashClear—Cash flow under 80% of net income
- Dilutive SBCClear2% of revenueOver 10% of revenue
- Payouts exceed cash flowFired103% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyClear35% of assetsOver 40% of assets
- Shareholder dissentClear—Any vote under 80% support
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $908M | $1.4B | $2.0B | $2.6B | $1.9B | 27% |
| Operating income | −$42M | $4M | −$71M | −$40M | −$410M | 913% |
| Net income | −$38M | −$19M | −$142M | −$94M | −$579M | 520% |
| Operating cash flow | $39M | −$12M | $143M | $19M | $39M | 107% |
| Stock-based comp | $17M | $34M | $41M | $40M | $40M | 0.0% |
| Buybacks | — | — | $0 | $0 | $40M |
Deal filings
None.
13D filers
None on file.
Insider trading
No open-market trades in the last 12 months.
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | $14M | $3M | 25 | 99 |
| FY2024 | $11M | −$9M | 70 | 81 |
| FY2023 | $9M | $20M | 206 | 82 |
| FY2022 | $8M | $12M | 175 | 77 |
| FY2021 | $7M | $22M | 173 | 96 |