Evolent Health, Inc.

Consumer Discretionary
Other Consumer Services
www.evolenthealth.com

Moat Score
Safety Score

Market Cap $1.20B
PE -13
Debt $661.99M
Cash $178.50M
EV $1.68B
FCF -$6.13M

Earnings

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Sales & Net Margins

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Earnings	-$93.45M
EBIT	-$40.49M
ROE	-9%
ROA	-2%
FCF	-$6.13M
Equity	$1.00B
Growth Stability	1
PE	-12.81
PB	1.2
P/FCF	-195.38
P/S	0.47
Price/Cash	0.15
Debt/Equity	0.66
Debt/FCF	-108.03
Net Margins	-4%
Gross Margins	14%
Op. Margins	-2%
Sales Growth YoY	16%
Sales Growth QoQ	4%
Sales CAGR	27%
FCF CAGR	2%
Equity CAGR	-0%
Earnings Growth YoY	-26%
Earnings Growth QoQ	-2%

Sales CAGR 5Y	33%
FCF CAGR 5Y	22%
Equity CAGR 5Y	14%
Earnings CAGR 3Y	43%
Sales CAGR 3Y	43%
FCF CAGR 3Y	132%
Equity CAGR 3Y	19%
Market Cap	$1.20B
Revenue	$2.55B
Assets	$2.54B
Total Debt	$661.99M
Cash	$178.50M
Shares Outstanding	114.68M
EV	1.68B
Moat Score	10%
Safety Score	70%
Working Capital	-108.38M
Current Ratio	0.85
Gross Profit	$367.35M
Shares Growth 3y	11%
Equity Growth QoQ	-4%
Equity Growth YoY	-6%

Assets & ROA

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Stockholders Equity & ROE

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Evolent Health Inc is engaged in healthcare delivery and payment. The company supports health systems and physician organizations in their migration toward value-based care and population health management. The company's reportable segments are Service segment which includes value-based care services, specialty care management services and comprehensive health plan administration services. and True Health segment consists of a commercial health plan it operates in New Mexico that focuses on small and large businesses. It generates a majority of its revenue from the Service segment.

SEC Filings

Direct access to Evolent Health, Inc. (EVH) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2024
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2023
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2022
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31

Sector Comparison

How does Evolent Health, Inc. compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Evolent Health, Inc. compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

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Evolent Health, Inc. Discounted Cash Flow

Fully customizable DCF calculator online for Evolent Health, Inc..

Years

Calculation mode

= -$69M

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	-$6.1M	-$6.2M	-$6.3M	-$6.4M	-$6.5M	-$6.6M	-$6.8M	-$6.9M	-$7M	-$7.1M	-$7.2M	-$72M
DCF		-$5.7M	-$5.2M	-$4.8M	-$4.5M	-$4.1M	-$3.8M	-$3.5M	-$3.3M	-$3M	-$2.8M	-$28M
Value	-$69M

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	12/2024	TTM
Net Margins	-89%	-16%	-9%	-44%	-36%	-4%	-1%	-7%	-4%	-4%
ROA	-	-6%	-3%	-20%	-20%	-0%	0%	-3%	-2%	-2%
ROE	-25%	-7%	-5%	-33%	-54%	-5%	-2%	-13%	-9%	-9%

Bad Net Margins (-3.66%)

Net Margins are too low to guarantee profitability in case of higher costs or higher interest rates. Furthermore lower margins cause higher earnings’ volatility.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	12/2024	TTM
Debt over FCF	-	-2.18	-3.67	-3.76	-6.34	15.67	-8.27	5.24	-108.03	-108.03
Debt over Equity	0.13	0.12	0.19	0.32	0.47	0.31	0.48	0.56	0.66	0.66
Growth Stability	-	-	-	-	-	-	-	-	-	1

Good Debt/FCF ratio (-108.03)

Net Margins are high enough to offer a good protection on the profits in case of higher costs or higher interests. Furthermore higher margins reduce earnings’ volatility.

Good Debt/Equity ratio (0.66)

The company is not overleveraged and has a good balance between equity and debt.

Good Graham’s Stability (1)

The company has a good stability in its earnings, which is a sign of a good competitive advantage.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	12/2024	CAGR 5Y
Revenue YoY growth	-	71%	44%	10%	35%	-2%	49%	45%	30%	33%
Earnings YoY growth	-	-69%	-22%	464%	9%	-89%	-49%	642%	-34%	-
Equity YoY growth	-	15%	14%	-22%	-33%	12%	24%	24%	-6%	14%
FCF YoY growth	-	9%	8%	30%	-42%	-130%	-463%	-328%	-105%	22%