Evolent Health, Inc.

DB:9EH Stock Report

Market Cap: €1.2b

Evolent Health Valuation

Is 9EH undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of 9EH when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 9EH (€10.8) is trading below our estimate of fair value (€66.59)

Significantly Below Fair Value: 9EH is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 9EH?

Key metric: As 9EH is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for 9EH. This is calculated by dividing 9EH's market cap by their current revenue.
What is 9EH's PS Ratio?
PS Ratio0.5x
SalesUS$2.46b
Market CapUS$1.28b

Price to Sales Ratio vs Peers

How does 9EH's PS Ratio compare to its peers?

The above table shows the PS ratio for 9EH vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average2.2x
NXU Nexus
4.5x9.8%€1.2b
COP CompuGroup Medical SE KGaA
0.9x1.8%€1.1b
M3V MeVis Medical Solutions
2.6xn/a€45.1m
AJ91 DocCheck
0.8xn/a€41.6m
9EH Evolent Health
0.5x13.7%€1.3b

Price-To-Sales vs Peers: 9EH is good value based on its Price-To-Sales Ratio (0.5x) compared to the peer average (2.2x).

Price to Sales Ratio vs Industry

How does 9EH's PS Ratio compare vs other companies in the European Healthcare Services Industry?

6 CompaniesPrice / SalesEstimated GrowthMarket Cap
Industry Avg.2.2x11.2%
9EH Evolent Health
 0.5x13.7%US$1.28b
9EH 0.5xIndustry Avg. 2.2xNo. of Companies10PS02.44.87.29.612+
6 CompaniesEstimated GrowthMarket Cap
Industry Avg.2.2x29.6%
9EH Evolent Health
 0.5x79.3%US$1.28b
No more companies

Price-To-Sales vs Industry: 9EH is good value based on its Price-To-Sales Ratio (0.5x) compared to the European Healthcare Services industry average (2.2x).

Price to Sales Ratio vs Fair Ratio

What is 9EH's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

9EH PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio0.5x
Fair PS Ratio0.8x

Price-To-Sales vs Fair Ratio: 9EH is good value based on its Price-To-Sales Ratio (0.5x) compared to the estimated Fair Price-To-Sales Ratio (0.8x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst 9EH forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€10.80
€24.31
+125.1%
33.4%€44.98€14.29n/a14
Dec ’25€12.20
€24.58
+101.5%
34.2%€44.61€14.18n/a14
Nov ’25€21.40
€38.44
+79.6%
17.4%€58.01€30.39n/a15
Oct ’25€25.20
€38.23
+51.7%
16.2%€56.87€29.79n/a15
Sep ’25€28.60
€36.97
+29.3%
18.4%€56.33€27.72n/a15
Aug ’25€21.40
€38.19
+78.5%
18.1%€58.17€25.86n/a14
Jul ’25€17.70
€38.19
+115.8%
18.1%€58.17€25.86n/a14
Jun ’25€19.80
€38.19
+92.9%
18.1%€58.17€25.86n/a14
May ’25€25.80
€41.82
+62.1%
15.3%€58.73€31.69n/a14
Apr ’25€30.20
€41.78
+38.3%
15.5%€58.19€31.41n/a13
Mar ’25€31.40
€42.22
+34.5%
14.7%€58.14€35.07n/a12
Feb ’25€27.20
€41.04
+50.9%
16.9%€57.56€31.06n/a12
Jan ’25€30.20
€40.58
+34.4%
18.1%€57.39€30.97n/a11
Dec ’24€25.40
€41.24
+62.3%
17.8%€57.35€30.95€12.2010
Nov ’24€23.00
€44.59
+93.9%
14.1%€59.65€34.08€21.4010
Oct ’24€25.80
€43.28
+67.8%
14.8%€57.75€33.00€25.209
Sep ’24€23.40
€43.28
+85.0%
14.8%€57.75€33.00€28.609
Aug ’24€27.60
€42.16
+52.8%
14.8%€56.25€32.14€21.409
Jul ’24€27.80
€43.30
+55.8%
14.8%€57.77€33.01€17.709
Jun ’24€27.20
€43.97
+61.7%
14.8%€58.26€33.29€19.809
May ’24€32.60
€43.38
+33.1%
15.3%€57.73€32.99€25.809
Apr ’24€29.20
€45.35
+55.3%
14.9%€59.21€33.83€30.208
Mar ’24€33.00
€44.90
+36.0%
15.9%€59.39€32.05€31.408
Feb ’24€29.60
€42.20
+42.6%
15.0%€54.27€31.28€27.208
Jan ’24€26.00
€41.30
+58.9%
14.7%€53.35€29.95€30.208
Dec ’23€27.40
€39.60
+44.5%
19.7%€55.22€31.00€25.408

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/29 06:34
End of Day Share Price 2024/12/27 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Evolent Health, Inc. is covered by 23 analysts. 15 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Matthew GillmorBaird
David LarsenBTIG
Richard CloseCanaccord Genuity