eHealth, Inc. (EHTH) stock analysis
Close on Nov 11, 2026Market cap $14.63MP/E –Yield –
StockData Score
Prices as of Nov 11, 2026How the score works
Mixed9 of 30 checks passed
eHealth passes 9 of the 30 checks behind our score; 12 could not be run for lack of data and count as not passed. Each dot in the shape is one check — hover it for the numbers.
- Valuation
- 2/6
- Growth
- 3/6
- Past performance
- 2/6
- Financial health
- 2/6
- Dividend
- 0/6
What stands out
Low debt
Debt is 23.4% of shareholders' equity, under the 40% we consider low.
Revenue growing 10%+ a year
Revenue grew 11.0% a year over the last three fiscal years.
Guidance raised
eHealth raised its full year ending December 31, 2026 Total revenue outlook on Aug 4, 2026.
P/S below the industry
eHealth's price-to-sales of 0.03 is below the Insurance Agents, Brokers, and Service median of 3.43.
What to watch
Return on equity under 15%
Return on equity was 4.6% over the last twelve months and averaged -4.4% over five years; we look for 15% on both.
Earnings shrank over 5 years
Net income shrank 2.5% a year on average over the last five fiscal years.
Earnings growth not accelerating
Net income grew -54.4% over the last twelve months, against a 5-year average of -2.5% a year.
Interest not well covered
Operating income covers interest expense 3.2 times; we look for at least 5.
Valuation2/6
P/E against its history
Not enough price and earnings history to compare.
P/E against the industry
Needs positive earnings and enough profitable companies in the industry.
P/S below the industry
eHealth's price-to-sales of 0.03 is below the Insurance Agents, Brokers, and Service median of 3.43.
P/B below the industry
eHealth's price-to-book of 0.03 is below the Insurance Agents, Brokers, and Service median of 4.81.
Price against fair value
We could not estimate a fair value: it needs at least two valuation methods with positive inputs.
Margin of safety
Depends on the fair value estimate.
Growth3/6
Revenue growing 10%+ a year
Revenue grew 11.0% a year over the last three fiscal years.
EPS growth over 3 years
Needs positive EPS three years ago and today.
Earnings growth not accelerating
Net income grew -54.4% over the last twelve months, against a 5-year average of -2.5% a year.
Growing slower than the industry
Revenue grew -13.6% over the last twelve months; the Insurance Agents, Brokers, and Service median is 13.8%.
Guidance raised
eHealth raised its full year ending December 31, 2026 Total revenue outlook on Aug 4, 2026.
Gross margin improving
Gross margin was 44.7% over the last twelve months, against 41.3% a year earlier.
Past performance2/6
Return on equity under 15%
Return on equity was 4.6% over the last twelve months and averaged -4.4% over five years; we look for 15% on both.
Return on assets over 1%
Return on assets was 2.1%; for a bank or insurer, 1% or more is considered good.
Return on equity below the industry
eHealth's return on equity of 4.6% is below the Insurance Agents, Brokers, and Service median of 9.3%.
Earnings shrank over 5 years
Net income shrank 2.5% a year on average over the last five fiscal years.
Net margin above its 5-year average
Net margin was 4.9% over the last twelve months, against a 5-year average of -7.7%.
Net margin below the industry
eHealth's net margin of 4.9% is below the Insurance Agents, Brokers, and Service median of 4.9%.
Financial health2/6
Low debt
Debt is 23.4% of shareholders' equity, under the 40% we consider low.
Debt trend
Needs a balance sheet from five years ago with positive equity.
Debt not well covered by cash flow
Operating cash flow over the last twelve months equals -14.2% of total debt; we look for at least 20%.
Interest not well covered
Operating income covers interest expense 3.2 times; we look for at least 5.
Short-term assets cover short-term debts
Current assets are 8.68 times current liabilities.
Bankruptcy risk (Altman Z)
The Altman model does not apply to insurers.
Dividend0/6
No dividend
eHealth has not paid a dividend in the last twelve months.
Yield against Treasuries
No dividend.
Yield against the market
No dividend.
Dividend stability
No dividend.
Earnings cover
No dividend.
Cash-flow cover
No dividend.
Fair value
How we estimate itWe don't publish a fair value for eHealth. It needs a US-dollar share price, at least two valuation methods with positive inputs (earnings, EBITDA, book value or sales) and, for companies with several share classes, classes that trade at the same price.
Valuation over time
Using the earnings and balance sheet published at each date, not today's.
- P/E at month end
- Insurance Agents, Brokers, and Service median 30.1
An estimate from reported numbers and market multiples, not a price target or investment advice. It can be far off for companies whose profits are about to change sharply.
Market risk
From the past year of daily prices.
Liquidity
High risk
- Average value traded per day
- $278.92K
- Value traded per 1% price move
- $73.38K
Downside
High risk
- Typical loss in a bad month
- 55.9%
- Volatility (annualized)
- 92%
- Sharpe ratio, 1 year
- -1.01
- Beta to the S&P 500 (5Y)
- 1.62
Typical bad-month loss, week by week
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
Operating margin
Net margin
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +4.1% | +11.0% | -1.0% | +11.3% | |
| Gross profit | +15.5% | -15.8% | -16.1% | +2.6% | |
| Operating income | +182.1% | – | +4.5% | – | |
| Net income | +298.2% | – | -2.5% | – |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 0.1% | 6.7% | 6.8% | |
| Return on assets | 0.3% | 5.1% | 3.3% | |
| Current ratio | 2.73 | 3.92 | 3.37 | |
| Debt to equity | – | – | 0.19 | |
| Net debt to EBITDA | – | – | – | |
| Interest coverage | – | – | 6.2× | |
| Capex to revenue | 1.0% | 1.3% | 0.4% | |
| Diluted shares | 18M | 27M | 30M |
Where the cash went
Fiscal 2021 to 2025, five years combined
eHealth generated $239.89M from operations and spent $10.51M on capital expenditure, dividends and share buybacks. 100% of that went back into the business.
DuPont analysis
Return on equity split into margin, efficiency and leverage
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 7.2% | 0.46× | 2.05× | 6.8% |
| FY2024 | 1.9% | 0.47× | 1.90× | 1.7% |
| FY2023 | -6.2% | 0.41× | 1.77× | -4.5% |
| FY2022 | -21.9% | 0.36× | 1.62× | -12.7% |
| FY2021 | -19.4% | 0.49× | 1.38× | -13.2% |
| FY2020 | 7.8% | 0.65× | 1.31× | 6.7% |
| FY2019 | 13.2% | 0.86× | 1.42× | 16.1% |
| FY2018 | 0.1% | 0.63× | 1.35× | 0.1% |
| FY2017 | 13.3% | 0.81× | 0.87× | 9.4% |
| FY2016 | 0.2% | 1.74× | 0.45× | 0.1% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
- ProfitableNet income above zero$40.04M
- Cash generatingOperating cash flow above zero-$25.35M
- Return on assets improvedROA up on the prior year0.9% → 3.5%
- Earnings backed by cashOperating cash flow above net income-$25.35M vs $40.04M
- Less leverageLong-term debt to assets fell5.9% → 8.9%
- Better liquidityCurrent ratio rose3.69 → 3.37
- No dilutionShare count did not rise29M → 30M
- Gross margin improvedGross margin up on the prior year39.15% → 43.46%
- More efficientAsset turnover rose0.48 → 0.48
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