Ocugen, Inc.
$471.41M- Market cap
- $461.19M
- Debt
- +$28.79M
- Cash
- −$18.57M
Capital structure 94% equity / 6% debt · EV / Revenue 106.82x
Compare price, profitability, solvency, and SEC-reported financials side by side—before deciding which assumptions deserve a closer look.
FY 2025 · Mkt capMarket cap $461.19M · View financials
Snapshot Sep 4, 4:00 PM ET
FY 2025 · Mkt cap
Decision snapshot: OCGN stock price at premium vs EVH $1.36 current versus $0.00 implied using P/S multiple.
Quick read
Each company valued on the other's multiple, then compared with the market price.
Implied fair value · at EVH's multiple
Implied fair value · at OCGN's multiple
Snapshot Sep 4, 4:00 PM ET
Metric by metric
Where each company leads, and how wide the gap is.
Growth edge
Pricing power
Operating leverage
Multiple premium
Not comparable
Lower leverage
Statements
Core statements aligned to each company's latest fiscal year.
SEC periods: OCGN FY 2025 (ended Dec 31, 2025) · EVH FY 2025 (ended Dec 31, 2025).
Trendline
Seven fiscal years of revenue, earnings, and margins before underwriting a re-rating.
Price framework
Market cap plus debt, less cash.
Capital structure 94% equity / 6% debt · EV / Revenue 106.82x
Capital structure 33% equity / 67% debt · EV / Revenue 0.70x
EVH carries the larger enterprise value at $1.31B against $471.41M; EVH trades on the lower EV / Revenue multiple (0.70x vs 106.82x).
Price framework
The same filing-backed model used on each company's valuation page, with company-specific inputs and calculated scenarios.
OCUGEN, INC. · implied price per share
Latest annual free cash flow must be positive to qualify the filing-backed baseline.
Evolent Health, Inc. · implied price per share
Five annual free-cash-flow observations are required for the filing-backed baseline.
Balance sheet health
Financial health checks to separate durable balance sheets from potential value traps.
Financial strength on a 0–9 scale.
Bankruptcy-risk signal from balance sheet and earnings power.
Debt / equity
Total debt against shareholders' equity
-2.37x
2.34x
Net debt / EBITDA
Leverage against operating earnings
-0.16x
-2.11x
Cash and equivalents
Liquid reserves on the balance sheet
$18.57M
$151.86M
Total debt
Interest-bearing obligations outstanding
Comparable set
Where the pair sits against the wider comparable set.
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