Evolent Health, Inc.(EVH)Stock Analysis
AI analysis on 2,800+ stocks →Deep AI analysis on 2,800+ stocks →13F Pro Quality Score
Rank #2,311 of 2,879 stocks
Rankings refresh quarterly once 80% of peers have filed (~45 days after quarter-end). Next update: ~Aug 14, 2026.
Revenue Growth
Profitability
Balance Sheet
Earnings Quality
Free Cash Flow
Institutional Flow
Revenue Scale
Dilution Risk
EVH Stock Analysis & AI Quality Score
AI stock analysis and institutional research for Evolent Health, Inc. (EVH), a Technology sector company. 13F Pro's AI-powered ranking engine scores EVH at 31.5/100 on a 32-signal composite quality model, placing it at rank #2,311 of 2,879 stocks — the bottom half of the AI-ranked universe. Areas of concern include balance sheet strength (21.0) and profitability (21.6), which score below median versus the broader universe. Shareholder dilution risk is elevated at 40.3/100, reflecting ongoing share issuance or stock-based compensation. Based on the latest XBRL financial filings (Q1 2026), Evolent Health, Inc. reports quarterly revenue of $496.2M, net income of $-26.6M, free cash flow of $-984.0K. Top institutional holders of EVH by reported 13-F value include LINDEN ADVISORS, Context Capital Management,, BlackRock,, based on the most recent SEC filings. EVH trades on the NYSE exchange and files with the SEC under CIK 1628908. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate EVH daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for Evolent Health, Inc. directly from SEC EDGAR. Evolent Health, Inc.'s 13F Pro composite quality score has ranged between 8 and 68 since 2021, currently 31.5 — a declining long-term trajectory across 56 quarterly and live scoring snapshots.
Revenue
Q1 2026
$496.2M
Net Income
Q1 2026
$-26.6M
Free Cash Flow
Q1 2026
$-984.0K
D/E Ratio
Q1 2026
2.46
Revenue & Net Income
Earnings Per Share
Key Financials Over Time
Export Financial Table · Pro+Revenue
-4.5% YoYNet Income
-275.6% YoYOperating Income
-475.9% YoYEPS (Diluted)
-296.1% YoYTotal Assets
-29.1% YoYTotal Debt
+62.6% YoYOp. Cash Flow
-72.8% YoY| Metric | FY 2025 | FY 2023 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|
| Revenue | $1.88B -4.5% | $1.96B +116.3% | $908.0M -1.8% | $924.6M +34.6% | $687.1M +9.6% | $627.1M |
| Net Income | $-534.5M -275.6% | $-142.3M -278.4% | $-37.6M +88.8% | $-334.2M -10.7% | $-302.0M -473.5% | $-52.7M |
| Operating Income | $-410.1M -475.9% | $-71.2M -67.9% | $-42.4M +83.9% | $-262.8M +14.9% | $-308.9M -550.6% | $-47.5M |
| EPS (Diluted) | $-5.07 -296.1% | $-1.28 -190.9% | $-0.44 +88.8% | $-3.94 -7.4% | $-3.67 | — |
| Total Assets | $1.90B -29.1% | $2.68B +88.8% | $1.42B +3.5% | $1.37B -8.4% | $1.50B -13.0% | $1.72B |
| Total Debt | $970.5M +62.6% | $597.0M +176.8% | $215.7M -25.6% | $289.9M -1.3% | $293.7M +32.9% | $221.0M |
| Operating Cash Flow | $38.8M -72.8% | $142.6M +268.0% | $38.7M +338.8% | $-16.2M +62.0% | $-42.6M -106.5% | $-20.7M |
AI Insight: EVH Financial Trends
A $429M net loss in Q4 2025 and revenue down 23% year-over-year to $469M signal deep structural stress at Evolent Health.
• Revenue collapsed from $647M in Q2 2024 to $444M in Q2 2025, a 31% year-over-year decline, with no recovery evident by Q1 2026 at $496M.
• Operating income swung to a $408M loss in Q4 2025 from a modest $8M gain in Q2 2024, indicating severe margin deterioration.
• Total debt surged from $599M in Q2 2024 to $973M in Q1 2026, while equity eroded from $1,054M to $396M over the same period.
• Operating cash flow has been erratic — negative in Q4 2024 ($-26M), Q2 2025 ($-30M), and Q1 2026 ($-1M) — with no consistent positive trend.
⚠ Equity fell from $1,054M in Q2 2024 to $396M in Q1 2026; continued losses risk approaching covenant or solvency thresholds.
⚠ The $429M net loss in Q4 2025 dwarfs all prior quarters — clarify whether this reflects a goodwill impairment or ongoing operational losses.
⚠ Debt jumped $239M in Q3 2025 alone to $1,060M; monitor refinancing risk and interest burden given persistent operating losses.
AI Insight: EVH Ratio Trends
A massive Q4 2025 impairment-driven loss (-87.1% OpMargin) has collapsed TTM metrics, while Q1 2026 shows only modest operational stabilization with leverage doubling to 2.46x D/E.
• Operating margin swung from +1.2% in Q2 2024 to -87.1% in Q4 2025, driven by what appears to be a large one-off charge.
• D/E ratio surged from 0.57 in Q2 2024 to 2.46 in Q1 2026, a more than fourfold increase in leverage.
• Q1 2026 OpMargin recovered to -2.1% from Q4 2025's -87.1%, suggesting the prior quarter's hit was largely non-recurring.
• ROIC remained deeply negative at -30.6% on a TTM basis, though Q3 2025 briefly touched +0.2% before the Q4 collapse.
⚠ D/E at 2.46x and rising — sustained negative ROA (-5.7% in Q1 2026) raises debt-serviceability concerns.
⚠ Whether Q4 2025's -91.5% NPM was truly one-off; recurrence would further impair already negative TTM metrics.
⚠ ROE remains unmeasurable or deeply negative since Q4 2025 — equity base may have been materially eroded.
Get alerted when EVH's score changes
Free account: watchlist tracking, the daily AI brief, and the AI screener.
Available Research
13F Pro tracks comprehensive data for Evolent Health, Inc. including:
Top Institutional Holders of EVH
LINDEN ADVISORS LP
$59.5M108,850,000 shContext Capital Management, LLC
$38.2M71,771,000 shBlackRock, Inc.
$24.8M10,888,872 shCADIAN CAPITAL MANAGEMENT, LP
$24.7M10,814,473 shPenderFund Capital Management Ltd.
$22.8M42,017,000 shMORGAN STANLEY
$20.7M9,081,079 shUBS Group AG
$18.6M8,150,361 shArena Capital Advisors, LLC- CA
$15.0M29,620,000 shDeepCurrents Investment Group LLC
$13.3M24,168,000 shRubicon Founders LLC
$13.3M5,816,123 sh
| Fund | Value | Shares |
|---|---|---|
| LINDEN ADVISORS LP | $59.5M | 108,850,000 |
| Context Capital Management, LLC | $38.2M | 71,771,000 |
| BlackRock, Inc. | $24.8M | 10,888,872 |
| CADIAN CAPITAL MANAGEMENT, LP | $24.7M | 10,814,473 |
| PenderFund Capital Management Ltd. | $22.8M | 42,017,000 |
| MORGAN STANLEY | $20.7M | 9,081,079 |
| UBS Group AG | $18.6M | 8,150,361 |
| Arena Capital Advisors, LLC- CA | $15.0M | 29,620,000 |
| DeepCurrents Investment Group LLC | $13.3M | 24,168,000 |
| Rubicon Founders LLC | $13.3M | 5,816,123 |
More Technology Companies
View all Technology →Put EVH on your watchlist
Track score changes the day Evolent Health, Inc. files with the SEC, follow the hedge funds that own it, screen 2,800+ AI-scored stocks, and get the daily brief — free.
Free tier includes 13F data, economic indicators, and market overview. Pro starts at $6.67/mo (billed annually).
Popular Research
Is EVH a good stock to buy?
13F Pro's AI-powered analysis of Evolent Health, Inc. (EVH) draws on SEC EDGAR-sourced fundamentals, institutional 13F holdings, and insider Form 4 transactions in the Technology sector (listed on NYSE). The 32-signal AI Quality Score, current rank, and full bull/bear verdict for EVH are available on the EVH stock profile dashboard — with the same data, AI insights, ratios, and institutional activity refreshed after every 10-K, 10-Q, 13F, and Form 4 filing.
Which hedge funds own EVH?
Institutional investors are required to disclose their holdings quarterly via SEC Form 13F. 13F Pro aggregates these filings to show which hedge funds, mutual funds, and asset managers are buying or selling EVH. Combined with insider transaction data from Form 4 filings and AI-powered analysis from 10 specialized research agents, 13F Pro provides a comprehensive view of Evolent Health, Inc.'s investment landscape.