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Side-by-side financial comparison of Evolent Health, Inc. (EVH) and OLD NATIONAL BANCORP (ONB). Click either name above to swap in a different company.
OLD NATIONAL BANCORP is the larger business by last-quarter revenue ($702.8M vs $496.2M, roughly 1.4× Evolent Health, Inc.). OLD NATIONAL BANCORP runs the higher net margin — 33.3% vs -5.4%, a 38.6% gap on every dollar of revenue. On growth, OLD NATIONAL BANCORP posted the faster year-over-year revenue change (44.4% vs 2.6%). Over the past eight quarters, OLD NATIONAL BANCORP's revenue compounded faster (34.5% CAGR vs -12.4%).
Magellan Health Inc., is an American for-profit managed health care company and subsidiary of Centene that focuses on special populations and other specialty areas of healthcare. Magellan's customers include health plans and other managed care organizations, employers, labor unions, various military and governmental agencies and third-party administrators. It ranked 390 on the Fortune 500 in 2021.
Old National Bank is an American regional bank with nearly 200 retail branches operated by Old National Bancorp and based in Chicago and Evansville, Indiana. With assets at $48.5 billion and 250 banking centers, Old National Bancorp is the largest financial services bank holding company headquartered in Indiana and one of the top 30 banking companies in the U.S. Old National Bank has locations in Illinois, Indiana, Iowa, Kentucky, Michigan, Minnesota, Tennessee, and Wisconsin.
EVH vs ONB — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $496.2M | $702.8M |
| Net Profit | $-26.6M | $233.7M |
| Gross Margin | 16.9% | — |
| Operating Margin | — | — |
| Net Margin | -5.4% | 33.3% |
| Revenue YoY | 2.6% | 44.4% |
| Net Profit YoY | — | 61.5% |
| EPS (diluted) | — | — |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $496.2M | $702.8M | ||
| Q4 25 | $468.7M | $580.8M | ||
| Q3 25 | $479.5M | $574.6M | ||
| Q2 25 | $444.3M | $514.8M | ||
| Q1 25 | $483.6M | $387.6M | ||
| Q4 24 | $646.5M | $394.2M | ||
| Q3 24 | $621.4M | $391.7M | ||
| Q2 24 | $647.1M | $388.4M |
| Q1 26 | $-26.6M | $233.7M | ||
| Q4 25 | $-429.1M | $216.6M | ||
| Q3 25 | $-20.9M | $182.6M | ||
| Q2 25 | $-19.9M | $125.4M | ||
| Q1 25 | $-64.6M | $144.7M | ||
| Q4 24 | $-22.8M | $153.9M | ||
| Q3 24 | $-23.1M | $143.8M | ||
| Q2 24 | $1.6M | $121.2M |
| Q1 26 | 16.9% | — | ||
| Q4 25 | 20.7% | — | ||
| Q3 25 | 20.8% | — | ||
| Q2 25 | 22.6% | — | ||
| Q1 25 | 21.2% | — | ||
| Q4 24 | 11.7% | — | ||
| Q3 24 | 13.0% | — | ||
| Q2 24 | 16.5% | — |
| Q1 26 | — | — | ||
| Q4 25 | -87.1% | 46.7% | ||
| Q3 25 | 0.2% | 40.5% | ||
| Q2 25 | -0.3% | 30.2% | ||
| Q1 25 | -0.3% | 46.8% | ||
| Q4 24 | -2.9% | 47.2% | ||
| Q3 24 | -2.6% | 47.2% | ||
| Q2 24 | 1.2% | 40.3% |
| Q1 26 | -5.4% | 33.3% | ||
| Q4 25 | -91.6% | 37.3% | ||
| Q3 25 | -4.4% | 31.8% | ||
| Q2 25 | -4.5% | 24.4% | ||
| Q1 25 | -13.4% | 37.3% | ||
| Q4 24 | -3.5% | 39.0% | ||
| Q3 24 | -3.7% | 36.7% | ||
| Q2 24 | 0.2% | 31.2% |
| Q1 26 | — | — | ||
| Q4 25 | $-3.76 | $0.55 | ||
| Q3 25 | $-0.24 | $0.46 | ||
| Q2 25 | $-0.44 | $0.34 | ||
| Q1 25 | $-0.63 | $0.44 | ||
| Q4 24 | $-0.26 | $0.47 | ||
| Q3 24 | $-0.27 | $0.44 | ||
| Q2 24 | $-0.06 | $0.37 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $142.0M | — |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $396.4M | $8.5B |
| Total Assets | $1.9B | $73.0B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $142.0M | — | ||
| Q4 25 | $151.9M | $1.8B | ||
| Q3 25 | $116.7M | $1.7B | ||
| Q2 25 | $151.0M | $1.8B | ||
| Q1 25 | $246.5M | $1.2B | ||
| Q4 24 | $104.2M | $1.2B | ||
| Q3 24 | $96.6M | $1.2B | ||
| Q2 24 | $101.3M | $1.2B |
| Q1 26 | $396.4M | $8.5B | ||
| Q4 25 | $415.2M | $8.5B | ||
| Q3 25 | $842.2M | $8.3B | ||
| Q2 25 | $896.0M | $8.1B | ||
| Q1 25 | $935.5M | $6.5B | ||
| Q4 24 | $1.0B | $6.3B | ||
| Q3 24 | $1.0B | $6.4B | ||
| Q2 24 | $1.1B | $6.1B |
| Q1 26 | $1.9B | $73.0B | ||
| Q4 25 | $1.9B | $72.2B | ||
| Q3 25 | $2.5B | $71.2B | ||
| Q2 25 | $2.5B | $71.0B | ||
| Q1 25 | $2.7B | $53.9B | ||
| Q4 24 | $2.5B | $53.6B | ||
| Q3 24 | $2.5B | $53.6B | ||
| Q2 24 | $2.5B | $53.1B |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
EVH
| Performance Suite | $323.3M | 65% |
| Specialty Technology and Services Suite | $80.8M | 16% |
| Administrative Services | $49.6M | 10% |
| Cases | $42.6M | 9% |
ONB
Segment breakdown not available.
