Oscar Health (OSCR) AI Stock Analysis

• Market Cap: $4.16B
• Dividend Yield: N/A
• Average Volume (3M): 14.27M
• Price to Earnings (P/E): ―
• Beta (1Y): 0.97
• Revenue Growth: 37.38%
• EPS Growth: -912.18%
• Country: US
• Employees: 2,400
• Sector: Healthcare
• Sector Strength: 45
• Industry: Medical - Healthcare Plans
• EPS (TTM): -0.53
• Shares Outstanding: 229,010,000
• 10 Day Avg. Volume: 8,177,372
• 30 Day Avg. Volume: 14,266,773
• PEG Ratio: -1.17
• Price to Book (P/B): 3.19
• Price to Sales (P/S): 0.35
• P/FCF Ratio: 3.40
• Enterprise Value/Market Cap: 1.35
• Enterprise Value/Revenue: 0.50
• Enterprise Value/Gross Profit: 0.50
• Enterprise Value/Ebitda: -30.53
• 1Y Price Target: $16.22
• Price Target Upside: 5.39% Upside
• Rating Consensus: Moderate Sell
• Number of Analyst Covering: 6
• EPS Forecast (FY): -1.27
• Revenue Forecast (FY): $12.00B

• Rating: 49 Neutral
• Price Target: $16.50 ▲(7.21% Upside)

Oscar Health's overall stock score is primarily impacted by its financial performance challenges, including profitability and cash flow issues. While technical analysis and corporate events provide some positive signals, the negative valuation and mixed earnings call sentiment weigh heavily on the score. The company's strategic initiatives and revenue growth offer potential, but significant hurdles remain.

Positive Factors

Revenue Growth

The 23% revenue growth indicates strong market demand and effective business strategies, supporting long-term financial health and expansion.

Membership Expansion

A 28% increase in membership enhances revenue potential and market presence, indicating successful customer acquisition strategies.

Innovative Products and AI Integration

The introduction of AI-driven products positions Oscar Health as a tech-forward leader, potentially improving customer engagement and operational efficiency.

Negative Factors

Profitability Challenges

Significant operational losses highlight ongoing profitability challenges, which may hinder financial stability and growth potential.

Increased Medical Loss Ratio

A higher medical loss ratio indicates rising costs relative to premiums, potentially impacting margins and financial performance.

Cash Flow Concerns

Declining free cash flow growth limits Oscar's ability to invest in growth initiatives and manage financial obligations effectively.

Oscar Health Business Overview & Revenue Model

Company Description

Oscar Health, Inc. provides health insurance products and services in the United States. The company offers Individual & Family, Small Group, and Medicare Advantage plans, as well as +Oscar, a technology driven platform designed to help providers and payor clients to engage with members and patients. It also provides reinsurance products. The company was formerly known as Mulberry Health Inc. and changed its name to Oscar Health, Inc. in January 2021. Oscar Health, Inc. was incorporated in 2012 and is headquartered in New York, New York.

How the Company Makes Money

Oscar Health generates revenue primarily through premiums collected from its members in exchange for health insurance coverage. Its key revenue streams include individual and family plans sold on the health insurance marketplaces established by the Affordable Care Act (ACA), Medicare Advantage plans for senior citizens, and small group health insurance products for businesses. Additionally, Oscar collaborates with healthcare providers and organizations to create value-based care arrangements that can lead to shared savings and improved patient outcomes. The company's focus on technology allows for efficient member engagement and care management, which can lead to cost savings and improved profitability over time.

Oscar Health Financial Statement Overview

Summary

Oscar Health is experiencing revenue growth, but profitability and cash flow remain significant challenges. The balance sheet shows moderate leverage and a healthy equity ratio, but the negative return on equity and declining cash flows highlight the need for strategic improvements. The company must focus on enhancing profitability and cash flow generation to strengthen its financial position.

Income Statement

Oscar Health has shown a moderate revenue growth rate of 5.24% in the TTM, indicating some positive momentum. However, the company is struggling with profitability, as evidenced by negative net profit and EBIT margins. The gross profit margin is relatively low at 21.20%, suggesting high cost structures. Overall, while revenue is growing, profitability remains a significant challenge.

Balance Sheet

The company's debt-to-equity ratio of 0.67 in the TTM indicates a moderate level of leverage, which is manageable but has increased compared to previous years. The return on equity is negative, reflecting ongoing losses. The equity ratio is healthy, showing that a good portion of the company's assets are financed by equity. The balance sheet shows stability but highlights the need for improved profitability.

Cash Flow

Oscar Health's cash flow situation is concerning, with a significant decline in free cash flow growth of -38.78% in the TTM. The operating cash flow to net income ratio is low, indicating challenges in converting earnings into cash. The free cash flow to net income ratio is close to 1, suggesting that cash flows are closely aligned with earnings, but the overall cash flow position is weak.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	11.29B	9.18B	5.86B	4.13B	1.92B	589.64M
Gross Profit	11.29B	9.18B	5.86B	4.13B	1.92B	589.64M
EBITDA	-183.34M	89.31M	-212.00M	-572.17M	-551.25M	-390.98M
Net Income	-244.09M	25.43M	-270.73M	-606.27M	-572.61M	-406.82M
Balance Sheet
Total Assets	5.75B	4.84B	3.60B	4.53B	3.32B	2.27B
Cash, Cash Equivalents and Short-Term Investments	3.04B	2.15B	2.56B	2.96B	1.69B	1.19B
Total Debt	686.29M	299.56M	298.78M	298.00M	0.00	142.49M
Total Liabilities	4.72B	3.82B	2.80B	3.63B	1.93B	3.57B
Stockholders Equity	1.02B	1.01B	803.97M	890.38M	1.39B	-1.30B
Cash Flow
Free Cash Flow	735.64M	950.30M	-297.74M	351.34M	-207.63M	208.71M
Operating Cash Flow	769.77M	978.19M	-272.16M	380.35M	-181.75M	222.73M
Investing Cash Flow	-223.80M	-1.39B	577.19M	-226.52M	-774.51M	-344.71M
Financing Cash Flow	394.86M	68.39M	6.45M	301.11M	1.24B	611.71M

Oscar Health Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 15.39
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For OSCR, the sentiment is Negative. The current price of 15.39 is below the 20-day moving average (MA) of 16.18, below the 50-day MA of 17.39, and below the 200-day MA of 16.08, indicating a bearish trend. The MACD of -0.25 indicates Positive momentum. The RSI at 43.40 is Neutral, neither overbought nor oversold. The STOCH value of 15.45 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for OSCR.

Oscar Health Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
MOH	71 Outperform	$8.27B	10.06	19.71%	―	13.71%	-18.02%
HUM	69 Neutral	$31.05B	24.20	7.15%	1.36%	9.87%	-5.58%
ALHC	60 Neutral	$4.01B	-176.39	-15.06%	―	47.39%	85.35%
CNC	58 Neutral	$19.15B	-3.59	-21.93%	―	14.92%	-286.72%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
CLOV	50 Neutral	$1.36B	-22.45	-16.90%	―	15.23%	38.79%
OSCR	49 Neutral	$4.16B	-13.68	-22.32%	―	37.38%	-912.18%

Oscar Health Corporate Events

Oscar Health Enters $250M Exchange Agreement with Oasis

On November 3, 2025, Oscar Health entered into an exchange agreement with Oasis FD Holdings, LP, allowing the exchange of up to $250 million of its convertible senior notes for shares and cash, with $187.5 million already exchanged by November 5, 2025. This move is part of Oscar’s strategy to manage its capital structure and reduce future interest obligations. Additionally, Oscar reported its third-quarter 2025 financial results, showing increased revenue but also higher losses compared to the previous year, reaffirming its full-year 2025 guidance and highlighting its focus on market expansion and cost management.

Oscar Health Issues $410M Convertible Notes for Growth

On September 18, 2025, Oscar Health, Inc. issued $410 million in Convertible Senior Subordinated Notes due 2030, with net proceeds of approximately $395.8 million. The funds will support strategic initiatives, including AI-driven expansion and enhanced consumer healthcare experiences, while also addressing potential growth opportunities like premium tax credits.

Oscar Health Announces $355M Convertible Notes Offering

On September 16, 2025, Oscar Health announced the pricing of its upsized $355 million offering of 2.25% convertible senior subordinated notes due 2030, aimed at scaling long-term growth and adoption in the individual market. The proceeds from this offering will support general corporate purposes, including strategic AI initiatives and potential extension of premium tax credits, while also managing share dilution through capped call transactions.

Oscar Health Amends Investment Agreement for $350M Offering

On September 11, 2025, Oscar Health, Inc. amended its investment agreement to facilitate a private offering of $350 million in convertible senior subordinated notes due 2030. The proceeds from this offering are intended to support Oscar’s long-term growth initiatives, including strategic AI projects and enhancing consumer healthcare experiences, as well as potentially terminating its revolving credit facility.