eHealth, Inc. (EHTH) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-5052.1%

-$25.00

vs $0.50 price

Levered DCF

-$50.66

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

0.89

Distress zone

Rating

A-

Overall 4 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	3.51×	-7.9×	-3.68×	-1.11×	-5.56×	40.35×	33.13×	3,255.93×
P/B	0.14×	0.47×	0.27×	0.2×	0.91×	2.19×	4.21×	2.59×
P/S	0.25×	0.52×	0.54×	0.33×	1.27×	3.15×	4.38×	3.12×
EV / EBITDA	2.41×	7.12×	785.54×	-1.22×	-6.11×	27.77×	19.5×	32.93×
Gross margin	97.5%	99.7%	99.6%	99.6%	99.6%	99.3%	99.5%	99.5%
Operating margin	12.4%	4.4%	-6.4%	-25.3%	-23.3%	9.1%	16.1%	1.0%
Net margin	7.2%	1.9%	-6.2%	-21.9%	-19.4%	7.8%	13.2%	0.1%
Current ratio	3.37×	3.69×	4.87×	6.62×	5.4×	3.92×	1.84×	2.58×
Debt / equity	0.14×	0.16×	0.11×	0.16×	0.06×	0.06×	0.07×	0.02×
Interest coverage	6.37×	2.11×	-2.65×	-13.47×	-148.69×	0×	0×	0×
Dividend yield	4.2%	2.0%	1.4%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	14.7%	55.3%	-12.5%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	4.1%	1.7%	-3.1%	-13.6%	-13.9%	5.4%	12.7%	0.1%
Return on invested capital	4.0%	1.2%	-2.6%	-8.1%	-9.7%	4.7%	10.3%	0.0%
Return on assets	3.2%	0.9%	-2.5%	-8.0%	-9.1%	4.4%	9.0%	0.1%
Free cash flow yield	-29.0%	-11.3%	-7.2%	-32.0%	-26.9%	-7.2%	-4.0%	-1.8%
Earnings yield	28.6%	3.6%	-11.5%	-67.0%	-15.3%	2.5%	3.0%	0.0%
Enterprise value	$200.9M	$333.5M	$231.7M	$94.8M	$642.4M	$1.8B	$2.2B	$776M
Net debt / EBITDA	0.73×	1.23×	-42.59×	0.48×	0.39×	0.04×	0.14×	-0.34×
Cash conversion cycle (days)	-591	-4,593	-1,283	-1,271	-2,343	-3,162	-3,145	-441