Evolent Health, Inc.

NYSE:EVH Stock Report

Market Cap: US$1.3b

Evolent Health Valuation

Is EVH 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 EVH when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: EVH ($11.13) is trading below our estimate of fair value ($63.87)

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

Key Valuation Metric

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

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

The above table shows the Price to Sales ratio for EVH. This is calculated by dividing EVH's market cap by their current revenue.
What is EVH's PS Ratio?
PS Ratio0.5x
SalesUS$2.46b
Market CapUS$1.30b

Price to Sales Ratio vs Peers

How does EVH's PS Ratio compare to its peers?

The above table shows the PS ratio for EVH vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average3.5x
PHR Phreesia
3.7x11.0%US$1.5b
SDGR Schrödinger
7.4x18.9%US$1.5b
TDOC Teladoc Health
0.6x0.7%US$1.6b
NXGN NextGen Healthcare
2.3x6.7%US$1.6b
EVH Evolent Health
0.5x13.7%US$1.3b

Price-To-Sales vs Peers: EVH is good value based on its Price-To-Sales Ratio (0.5x) compared to the peer average (3.9x).

Price to Sales Ratio vs Industry

How does EVH's PS Ratio compare vs other companies in the US Healthcare Services Industry?

11 CompaniesPrice / SalesEstimated GrowthMarket Cap
MPLN MultiPlan
0.3x1.7%US$203.11m
HCTI Healthcare Triangle
0.3xn/aUS$4.28m
ICCT iCoreConnect
0.3xn/aUS$3.54m
ISPC iSpecimen
0.3xn/aUS$2.76m
EVH 0.5xIndustry Avg. 2.2xNo. of Companies11PS01.63.24.86.48+
11 CompaniesEstimated GrowthMarket Cap
No more companies

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

Price to Sales Ratio vs Fair Ratio

What is EVH'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.

EVH PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio0.5x
Fair PS Ratio0.8x

Price-To-Sales vs Fair Ratio: EVH 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 EVH forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$11.13
US$25.52
+129.2%
33.4%US$47.21US$15.00n/a14
Dec ’25US$12.92
US$26.02
+101.4%
34.2%US$47.21US$15.00n/a14
Nov ’25US$23.46
US$41.75
+78.0%
17.4%US$63.00US$33.00n/a15
Oct ’25US$27.05
US$42.35
+56.6%
16.2%US$63.00US$33.00n/a15
Sep ’25US$31.98
US$41.35
+29.3%
18.4%US$63.00US$31.00n/a15
Aug ’25US$22.44
US$41.36
+84.3%
18.1%US$63.00US$28.00n/a14
Jul ’25US$18.41
US$41.36
+124.6%
18.1%US$63.00US$28.00n/a14
Jun ’25US$21.19
US$41.36
+95.2%
18.1%US$63.00US$28.00n/a14
May ’25US$27.27
US$44.86
+64.5%
15.3%US$63.00US$34.00n/a14
Apr ’25US$31.93
US$45.23
+41.7%
15.5%US$63.00US$34.00n/a13
Mar ’25US$34.41
US$45.75
+33.0%
14.7%US$63.00US$38.00n/a12
Feb ’25US$29.73
US$44.92
+51.1%
16.9%US$63.00US$34.00n/a12
Jan ’25US$33.03
US$44.55
+34.9%
18.1%US$63.00US$34.00n/a11
Dec ’24US$28.93
US$45.30
+56.6%
17.8%US$63.00US$34.00US$12.9210
Nov ’24US$24.02
US$47.10
+96.1%
14.1%US$63.00US$36.00US$23.4610
Oct ’24US$27.23
US$47.22
+73.4%
14.8%US$63.00US$36.00US$27.059
Sep ’24US$26.08
US$47.22
+81.1%
14.8%US$63.00US$36.00US$31.989
Aug ’24US$30.40
US$47.22
+55.3%
14.8%US$63.00US$36.00US$22.449
Jul ’24US$30.30
US$47.22
+55.8%
14.8%US$63.00US$36.00US$18.419
Jun ’24US$29.83
US$47.56
+59.4%
14.8%US$63.00US$36.00US$21.199
May ’24US$36.44
US$47.33
+29.9%
15.3%US$63.00US$36.00US$27.279
Apr ’24US$32.45
US$48.25
+48.7%
14.9%US$63.00US$36.00US$31.938
Mar ’24US$35.26
US$47.63
+35.1%
15.9%US$63.00US$34.00US$34.418
Feb ’24US$32.45
US$45.88
+41.4%
15.0%US$59.00US$34.00US$29.738
Jan ’24US$28.08
US$44.13
+57.1%
14.7%US$57.00US$32.00US$33.038
Dec ’23US$28.25
US$40.88
+44.7%
19.7%US$57.00US$32.00US$28.938

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 Analysis2024/12/27 03:23
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