What is Evolent Health, Inc.'s net debt?

Evolent Health, Inc. (EVH) reported net debt of $843.4M in Q1 2026.

How has Evolent Health, Inc.'s net debt changed year-over-year?

Evolent Health, Inc.'s net debt increased by 35.3% year-over-year, from $623.55M to $843.4M.

What is the long-term trend for Evolent Health, Inc.'s net debt?

Over 5 years (2020 to 2025), Evolent Health, Inc.'s net debt has grown at a 83.0% compound annual growth rate (CAGR), from $40.78M to $837.84M.

What does net debt mean?

Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.

Evolent Health, Inc. EVH Net debt

Discontinued — last reported Q1 '26

Net debt at other companies

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HES

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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

Calculated from Evolent Health, Inc.’s reported figures.

$985.4Mtotal debt−$142.0Mcash and equivalents=$843.4M

The official record: Evolent Health, Inc.’s 10-Q, filed May 7, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Evolent Health, Inc.'s net debt?: Evolent Health, Inc. (EVH) reported net debt of $843.4M in Q1 2026.
How has Evolent Health, Inc.'s net debt changed year-over-year?: Evolent Health, Inc.'s net debt increased by 35.3% year-over-year, from $623.55M to $843.4M.
What is the long-term trend for Evolent Health, Inc.'s net debt?: Over 5 years (2020 to 2025), Evolent Health, Inc.'s net debt has grown at a 83.0% compound annual growth rate (CAGR), from $40.78M to $837.84M.
What does net debt mean?: Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.