eHealth, Inc. (EHTH) intrinsic value & 10-year financials
eHealth, Inc. (EHTH) has a Graham intrinsic value of $49.51 per share. At $0.59 on Oct 17, 2026, the stock trades 99% below that value. Over the last 10 fiscal years revenue grew 12.8% a year to $554.0M, with an average return on invested capital of -12.9%.
- Graham intrinsic value
- $49.51
- Share price (Oct 17, 2026)
- $0.59
- Price vs Graham value
- 99% below
- Market cap
- $17.9M
- Revenue (FY2025)
- $554.0M
- Revenue growth (10-yr CAGR)
- 12.8%
- ROIC (10-yr avg)
- -12.9%
- Free cash flow (FY2025)
- -$27.6M
EHTH 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $554.0M | $40.0M | -$0.34 | -$27.6M | 12.0% | 7.1% |
| FY2024 | $532.4M | $10.1M | -$1.19 | -$20.5M | 4.4% | 2.0% |
| FY2023 | $452.9M | -$28.2M | -$2.37 | -$8.8M | -6.4% | -4.5% |
| FY2022 | $405.4M | -$88.7M | -$4.36 | -$27.1M | -25.3% | -13.1% |
| FY2021 | $538.2M | -$104.4M | -$4.59 | -$166.5M | -23.3% | -13.6% |
| FY2020 | $582.8M | $45.5M | $1.68 | -$115.6M | 9.1% | 6.5% |
| FY2019 | $506.2M | $66.9M | $2.73 | -$78.1M | 16.1% | 15.7% |
| FY2018 | $251.4M | $241.0K | $0.01 | -$7.8M | 1.0% | 0.8% |
| FY2017 | $190.7M | -$25.4M | -$1.37 | -$17.4M | -15.5% | -123.2% |
| FY2016 | $187.0M | -$4.9M | -$0.27 | $357.0K | -3.1% | -6.4% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
eHealth, Inc. is a consistent compounder, expanding top-line revenue at 12.8% annually over the past decade.
eHealth, Inc. has historically struggled to out-earn its cost of capital, averaging just -13.6% ROIC.
eHealth, Inc. has not shown aggressive share repurchases (>10% retirement) or a major balance-sheet leverage increase (>50% net debt growth) over the 10-year window.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, eHealth, Inc. is modeled at 12.8% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $49.51 per share.