Evolent Health vs Hims & Hers Health
Hims & Hers Health is the larger business, with $2.35bn of revenue in fiscal 2025 against $1.88bn for Evolent Health (1.3 times as much). Hims & Hers Health grew faster (59.0% against -26.6%). Hims & Hers Health kept more of each dollar of sales as profit: a net margin of 5.5% against -28.5%.
| Latest fiscal year | Evolent HealthEVH, 2025 | Hims & Hers HealthHIMS, 2025 |
|---|---|---|
| Revenue | $1.88bn | $2.35bn |
| Revenue growth | -26.6% | 59.0% |
| Net income | −$535m | $128m |
| Operating margin | — | 4.5% |
| Net margin | -28.5% | 5.5% |
| Return on equity | -75.5% | 25.2% |
| Free cash flow | $38.8m | $57.4m |
| Cash | $152m | $229m |
| Total debt | $971m | $973m |
| Debt to equity | — | 179.8% |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | $40.0m | $90.0m |
| Employees | 4,200 | — |
| Market value | $489m | $5.93bn |
| Price vs our value range | — | — |
| Moat score | 23 (Weak) | 33 (Weak) |
| Insider trades, 12 months | 1 buys, 1 sales | 1 buys, 46 sales |