What is Evolent Health, Inc.'s goodwill impairment?

Evolent Health, Inc. (EVH) reported goodwill impairment of $99.5M in Q4 2025.

What does goodwill impairment mean?

Write-down of goodwill carrying value when a reporting unit's fair value falls below its book value, indicating that past acquisitions have lost value.

Evolent Health, Inc. EVH Goodwill impairment

Discontinued — last reported Q4 '25

Goodwill impairment at other companies

Astrana HealthASTH

$0—

ExlService HoldingsEXLS

$0—

Other financials

Income statement

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Revenue$496.2M+2.6%

Gross profit$83.8M-18.2%

Operating income-$10.6M-553%

Net income-$26.6M+58.8%

EPS (diluted)-$0.24+61.9%

Balance sheet

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Cash & equivalents$142.0M-42.4%

Total debt$985.4M+13.3%

Total equity$396.4M-57.6%

Total assets$1.9B-29.2%

Cash flow

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Operating cash flow-$984.0K-122%

Valuation

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Market cap$565.78M-47.9%

Enterprise value$1.41B-17.6%

P/S0.3×-0.2×

Profitability

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Gross margin20.2%+4.9pp

Operating margin-22.2%-23.5pp

Net margin-26.3%-33.2pp

FCF margin-9.7%—

Returns & leverage

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Return on equity-74.6%-90.1pp

Debt / equity2.5×+1.6×

Current ratio1.3×+0.3×

Where this comes from

Reported directly by Evolent Health, Inc. in its filing.

Tagged under the XBRL concept us-gaap:GoodwillImpairmentLoss.

The official record: Evolent Health, Inc.’s 10-K, filed February 25, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Evolent Health, Inc.'s goodwill impairment?: Evolent Health, Inc. (EVH) reported goodwill impairment of $99.5M in Q4 2025.
What does goodwill impairment mean?: Write-down of goodwill carrying value when a reporting unit's fair value falls below its book value, indicating that past acquisitions have lost value.