Evolent Health (EVH) EV to EBITDA (2021 - 2025)
Evolent Health's EV to EBITDA came in at 9.57 for Q3 2025, down 75.5% from 39.03 a year earlier and down 40.0% from the prior quarter.
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Analysis
Evolent Health (EVH) EV to EBITDA (2021 - 2025) Analysis & Trends
Over the trailing twelve months to Sep 30, 2025, Evolent Health reported EV to EBITDA of 3.77, down 88.7% year-over-year; for FY2024, it came in at 14.60, down 74.5% from FY2023.
- Going back by year, EV to EBITDA was 57.32 in FY2023 (+83.7%), 31.21 in FY2022 (-57.4%) and 73.27 in FY2021.
- The Q3 2025 figure represents the lowest quarterly EV to EBITDA in data going back to Q2 2021.
- Year-over-year, EV to EBITDA has declined for four consecutive quarters, with an average decline of 19.0% over the last eight quarters.
- The fastest year-over-year change in EV to EBITDA over five years came in Q4 2023 (growth of 83.7%), and the weakest in Q1 2025 (a decline of 84.2%).
- Business Quant data shows EVH's EV to EBITDA at 15.94 (Q2 2025), 9.72 (Q1 2025) and 14.60 (Q4 2024) in the three quarters before Q3 2025.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) |
|---|---|---|---|---|
| 1 | HCA Healthcare | 94.29 Bn | 93.74 Bn | - |
| 2 | Natera | 59.14 Bn | 54.82 Bn | 485.19 Mn |
| 3 | Quest Diagnostics | 26.23 Bn | 24.66 Bn | 1.03 Bn |
| 4 | Labcorp Holdings | 25.04 Bn | 22.81 Bn | 1.11 Bn |
| 5 | Guardant Health | 23.69 Bn | 19.76 Bn | 219.03 Mn |
| 6 | Tenet Healthcare | 20.77 Bn | 11.92 Bn | - |
| 7 | Tempus AI | 14.91 Bn | 11.94 Bn | 246.50 Mn |
| 8 | Encompass Health | 12.24 Bn | 12.70 Bn | - |
| 9 | Davita | 11.39 Bn | 10.15 Bn | 1.16 Bn |
| 10 | Evolent Health | 413.80 Mn | -112.49 Mn | 80.84 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2025 | 9.57 |
| Jun 30, 2025 | 15.94 |
| Mar 31, 2025 | 9.72 |
| Dec 31, 2024 | 14.60 |
| Sep 30, 2024 | 39.03 |
| Jun 30, 2024 | 25.25 |
| Mar 31, 2024 | 61.54 |
| Dec 31, 2023 | 57.32 |
| Sep 30, 2023 | 37.70 |
| Jun 30, 2023 | 35.33 |
| Mar 31, 2023 | 38.40 |
| Dec 31, 2022 | 31.21 |
| Sep 30, 2022 | 47.32 |
| Jun 30, 2022 | 50.74 |
| Mar 31, 2022 | 52.64 |
| Dec 31, 2021 | 73.27 |
| Sep 30, 2021 | 50.90 |
| Jun 30, 2021 | 37.59 |
API Access
Evolent Health EV to EBITDA API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=ev-to-ebitda&ticker=EVH&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "ev-to-ebitda", "ticker": "EVH", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=ev-to-ebitda&ticker=EVH&period=max&api_key=YOUR_API_KEY");
const data = await res.json();