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Evolent Health Valuation Multiples
Discover revenue and EBITDA valuation multiples for Evolent Health and similar public comparables like Cogstate, CareNet, SOPHiA Genetics, TaiDoc Technology and more.
Evolent Health Overview
About Evolent Health
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. It provides specialty care management services in oncology, cardiology, musculoskeletal markets and holistic total cost of care management along with an integrated platform for health plan administration and value-based business infrastructure under one go to market package. The primary solutions provided by the company include specialty care management services, total cost of care management, and administrative services.
Founded
2014
HQ
Employees
4.5K
Website
Sectors
Financials (LTM)
EV
$1B
Evolent Health Financials
Evolent Health reported last 12-month revenue of $2B and EBITDA of $143M.
In the same LTM period, Evolent Health generated $491M in gross profit, $143M in EBITDA, and $12M in net income.
Revenue (LTM)
Evolent Health P&L
In the most recent fiscal year, Evolent Health reported revenue of $2B and EBITDA of $151M.
Evolent Health expects next 12-month revenue of XXX and NTM EBITDA of XXX
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue | $2B | XXX | $2B | XXX | XXX | XXX |
| Gross Profit | $491M | XXX | $400M | XXX | XXX | XXX |
| Gross Margin | 24% | XXX | 21% | XXX | XXX | XXX |
| EBITDA | $143M | XXX | $151M | XXX | XXX | XXX |
| EBITDA Margin | 7% | XXX | 8% | XXX | XXX | XXX |
| EBIT Margin | 5% | XXX | 6% | XXX | XXX | XXX |
| Net Profit | $12M | XXX | $10M | XXX | XXX | XXX |
| Net Margin | 1% | XXX | 1% | XXX | XXX | XXX |
| Net Debt | — | — | $819M | XXX | XXX | XXX |
Financial data powered by Morningstar, Inc.
Evolent Health Stock Performance
Evolent Health has current market cap of $317M, and enterprise value of $1B.
Market Cap Evolution
Evolent Health's stock price is $2.84.
| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $1B | $317M | 0.0% | XXX | XXX | XXX | $0.09 |
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Start Free TrialEvolent Health Valuation Multiples
Evolent Health trades at 0.6x EV/Revenue multiple, and 8.1x EV/EBITDA.
EV / Revenue (LTM)
Evolent Health Financial Valuation Multiples
As of April 19, 2026, Evolent Health has market cap of $317M and EV of $1B.
Equity research analysts estimate Evolent Health's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
Evolent Health has a P/E ratio of 26.5x.
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $317M | XXX | $317M | XXX | XXX | XXX |
| EV (current) | $1B | XXX | $1B | XXX | XXX | XXX |
| EV/Revenue | 0.6x | XXX | 0.6x | XXX | XXX | XXX |
| EV/EBITDA | 8.1x | XXX | 7.6x | XXX | XXX | XXX |
| EV/EBIT | 12.0x | XXX | 10.4x | XXX | XXX | XXX |
| EV/Gross Profit | 2.4x | XXX | 2.9x | XXX | XXX | XXX |
| P/E | 26.5x | XXX | 30.4x | XXX | XXX | XXX |
| EV/FCF | (885.9x) | XXX | 242.9x | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Verified Evolent Health Valuation Multiples
Access all public comps and forward-looking valuation multiples like EV/Revenue in 2027, based on consensus analyst estimates. Powered by FactSet and Morningstar.
Evolent Health Margins & Growth Rates
Evolent Health's revenue in the last 12 month grew by 27%.
Evolent Health's revenue per employee in the last FY averaged $0.4M, while opex per employee averaged $0.1M for the same period.
Evolent Health's rule of 40 is 38% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
Evolent Health's rule of X is 87% (created by Bessemer, rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).
Evolent Health Operational Valuation Multiples
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 27% | XXX | 33% | XXX | XXX | XXX |
| EBITDA Margin | 7% | XXX | 8% | XXX | XXX | XXX |
| EBITDA Growth | (5%) | XXX | (19%) | XXX | XXX | XXX |
| Rule of 40 | — | XXX | 38% | XXX | XXX | XXX |
| Bessemer Rule of X | — | XXX | 87% | XXX | XXX | XXX |
| Revenue per Employee | — | XXX | $0.4M | XXX | XXX | XXX |
| Opex per Employee | — | XXX | $0.1M | XXX | XXX | XXX |
| Opex to Revenue | — | XXX | 22% | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Evolent Health Public Comps
See public comps and valuation multiples for other Health Benefits & Financial Solutions and Health Data & Analytics comps.
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| LTM | 2026E | 2027E | LTM | 2026E | 2027E | |
| Evolent Health | XXX | XXX | XXX | XXX | XXX | XXX |
| Cogstate | XXX | XXX | XXX | XXX | XXX | XXX |
| CareNet | XXX | XXX | XXX | XXX | XXX | XXX |
| SOPHiA Genetics | XXX | XXX | XXX | XXX | XXX | XXX |
| TaiDoc Technology | XXX | XXX | XXX | XXX | XXX | XXX |
| Value HR | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc.
Evolent Health M&A Activity
Evolent Health acquired XXX companies to date.
Last acquisition by Evolent Health was on XXXXXXXX, XXXXX. Evolent Health acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Acquisitions by Evolent Health
| Acquired Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialEvolent Health Investment Activity
Evolent Health invested in XXX companies to date.
Evolent Health made its latest investment on XXXXXXXX, XXXXX. Evolent Health invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Investments by Evolent Health
| Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialAbout Evolent Health
| When was Evolent Health founded? | Evolent Health was founded in 2014. |
| Where is Evolent Health headquartered? | Evolent Health is headquartered in United States. |
| How many employees does Evolent Health have? | As of today, Evolent Health has over 4K employees. |
| Who is the CEO of Evolent Health? | Evolent Health's CEO is Seth Blackley. |
| Is Evolent Health publicly listed? | Yes, Evolent Health is a public company listed on NYSE. |
| What is the stock symbol of Evolent Health? | Evolent Health trades under EVH ticker. |
| When did Evolent Health go public? | Evolent Health went public in 2015. |
| Who are competitors of Evolent Health? | Evolent Health main competitors are Cogstate, CareNet, SOPHiA Genetics, TaiDoc Technology. |
| What is the current market cap of Evolent Health? | Evolent Health's current market cap is $317M. |
| What is the current revenue of Evolent Health? | Evolent Health's last 12 months revenue is $2B. |
| What is the current revenue growth of Evolent Health? | Evolent Health revenue growth (NTM/LTM) is 27%. |
| What is the current EV/Revenue multiple of Evolent Health? | Current revenue multiple of Evolent Health is 0.6x. |
| Is Evolent Health profitable? | Yes, Evolent Health is EBITDA-positive (as of the last 12 months). |
| What is the current EBITDA of Evolent Health? | Evolent Health's last 12 months EBITDA is $143M. |
| What is Evolent Health's EBITDA margin? | Evolent Health's last 12 months EBITDA margin is 7%. |
| What is the current EV/EBITDA multiple of Evolent Health? | Current EBITDA multiple of Evolent Health is 8.1x. |
| What is the current FCF of Evolent Health? | Evolent Health's last 12 months FCF is ($1M). |
| What is Evolent Health's FCF margin? | Evolent Health's last 12 months FCF margin is (0%). |
| What is the current EV/FCF multiple of Evolent Health? | Current FCF multiple of Evolent Health is (885.9x). |
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