Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $254M | $435M | $627M | $846M | $925M | $908M | $1.35B | $1.96B | $2.55B | $1.88B |
| Revenue growth | — | 71.1% | 44.2% | 35.0% | 9.2% | -1.8% | 48.9% | 45.3% | 30.1% | -26.6% |
| Operating income | -$237M | -$72.8M | -$47.5M | -$309M | -$263M | -$42.4M | $3.64M | -$71.2M | -$40.5M | -$410M |
| Operating margin | -93.4% | -16.7% | -7.6% | -36.5% | -28.4% | -4.7% | 0.3% | -3.6% | -1.6% | -21.9% |
| Net income | -$160M | -$60.7M | -$52.7M | -$302M | -$334M | -$37.6M | -$19.2M | -$113M | -$61.6M | -$535M |
| Net margin | -62.8% | -13.9% | -8.4% | -35.7% | -36.1% | -4.1% | -1.4% | -5.8% | -2.4% | -28.5% |
| EPS (diluted) | -$3.55 | -$0.94 | -$0.68 | -$3.67 | -$3.94 | -$0.44 | -$0.20 | -$1.28 | -$0.81 | -$5.07 |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$35.5M | -$28.0M | -$20.7M | -$42.6M | -$16.2M | $38.7M | -$11.6M | $143M | $18.8M | $38.8M |
| Capital expenditures | $15.5M | $27.8M | $39.5M | $35.5M | — | — | — | — | — | — |
| Free cash flow | -$51.0M | -$55.8M | -$60.2M | -$78.2M | — | — | — | — | — | — |
| Share buybacks | — | — | — | — | — | — | — | $0.00 | $0.00 | $40.0M |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $135M | $238M | $228M | $101M | $319M | $266M | $188M | $193M | $104M | $152M |
| Total assets | $1.20B | $1.31B | $1.72B | $1.50B | $1.37B | $1.42B | $1.82B | $2.68B | $2.54B | $1.90B |
| Total liabilities | $288M | $266M | $533M | $569M | $752M | $726M | $958M | $1.43B | $1.35B | $1.48B |
| Long-term debt | $120M | $121M | $221M | $294M | $263M | $216M | $413M | $597M | $491M | $971M |
| Shareholders' equity | $703M | $1.01B | $1.14B | $929M | $620M | $694M | $859M | $1.07B | $1.00B | $415M |
| Retained earnings | $147M | $86.0M | $50.0M | -$252M | -$589M | -$627M | -$606M | -$719M | -$781M | -$1.32B |
| Shares (wtd avg diluted) | 45.0M | 64.4M | — | 82.4M | 84.9M | 86.1M | 93.7M | 111M | 115M | 114M |
Every figure is extracted from Evolent Health, Inc.’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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