Teladoc (TDOC)
NYSE:TDOC
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Teladoc
(NYSE:TDOC)
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Rating:53Neutral
Price Target:
$4.50
▼(-17.88% Downside)
Action:ReiteratedDate:02/26/26
The score is anchored by improving financial durability—strong free cash flow and reduced leverage—partly offset by ongoing GAAP losses and modest/flat revenue trends. Technicals are notably weak (below key moving averages with negative MACD), and the earnings call points to stability rather than reacceleration, with BetterHelp and policy/financing risks limiting upside.
Positive Factors
Consistent positive free cash flow
Sustained positive operating and free cash flow provides durable liquidity and internal financing capacity. This reduces reliance on external capital, enables debt paydown, funds strategic investments (product, AI, insurance scaling), and cushions the business against cyclical reimbursement or demand swings.
Negative Factors
Flat top-line and persistent GAAP losses
Stagnant revenue growth limits operating leverage and the company’s ability to convert healthy gross margins into sustained net profitability. Continued GAAP losses indicate reliance on cost reductions and cash improvements, raising execution requirements to achieve durable earnings power.
Read all positive and negative factors
Positive Factors
Negative Factors
Consistent positive free cash flow
Sustained positive operating and free cash flow provides durable liquidity and internal financing capacity. This reduces reliance on external capital, enables debt paydown, funds strategic investments (product, AI, insurance scaling), and cushions the business against cyclical reimbursement or demand swings.
Read all positive factors
Teladoc (TDOC) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$977.61M
Dividend YieldN/A
Average Volume (3M)6.05M
Price to Earnings (P/E)―
Beta (1Y)1.45
Revenue Growth-2.37%
EPS Growth77.85%
CountryUS
Employees4,620
SectorHealthcare
Sector Strength45
IndustryMedical - Healthcare Information Services
Share Statistics
EPS (TTM)-0.14
Shares Outstanding178,396,440
10 Day Avg. Volume5,706,289
30 Day Avg. Volume6,054,037
Financial Highlights & Ratios
PEG Ratio0.08
Price to Book (P/B)0.89
Price to Sales (P/S)0.49
P/FCF Ratio4.32
Enterprise Value/Market Cap1.25
Enterprise Value/Revenue0.48
Enterprise Value/Gross Profit0.70
Enterprise Value/Ebitda127.18
Forecast
1Y Price Target
$7.28Price Target Upside32.85% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering22
EPS Forecast (FY)-0.9
Revenue Forecast (FY)$2.51B
Teladoc Business Overview & Revenue Model
Company Description
Teladoc Health, Inc. provides virtual healthcare services in the United States and internationally. The company offers a portfolio of services and solutions covering non-urgent, episodic, chronic, and complicated medical conditions, including diab...
How the Company Makes Money
Teladoc generates revenue primarily through subscription fees and per-visit payments for telehealth services. The company operates under a business model that includes contracts with employers, health plans, and health systems, allowing them to pr...
Teladoc Key Performance Indicators (KPIs)
Any
Revenue by Geography
Breaks down revenue across different regions, highlighting where Teladoc is gaining traction and where it might need to strengthen its presence amid varying regional healthcare demands.
Breaks down revenue across different regions, highlighting where Teladoc is gaining traction and where it might need to strengthen its presence amid varying regional healthcare demands.
Data provided by:
The Fly
The FlyTeladoc Earnings Call Summary
Earnings Call Date:Feb 25, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Apr 29, 2026
Earnings Call Sentiment Neutral
The call presented a balanced picture: solid margin and cash-flow progress, Integrated Care strength, meaningful operational achievements (debt paydown, ISO certification, AI platform) and early encouraging traction in BetterHelp insurance. Offsetting these positives are persistent top-line pressures (full-year revenue down 1.5%), a notable decline and margin compression at BetterHelp, transitional headwinds from subscription-to-visit shifts, membership risks from policy changes, and some macro/tariff and financing uncertainties. Guidance for 2026 is roughly stable at the midpoint with modest EBITDA growth, reflecting both the progress and remaining execution risks.Positive Updates
Q4 Consolidated Results and Profitability
Q4 consolidated revenue of $642M was slightly higher year-over-year; Q4 adjusted EBITDA was $84M, representing a 13% margin, modestly above the midpoint of guidance.
Negative Updates
Full-Year Revenue Decline
Full-year consolidated revenue declined 1.5% to $2.53B versus prior year, reflecting ongoing top-line pressure despite segment pockets of growth.
Read all updates
Q4-2025 Updates
Positive
Negative
Q4 Consolidated Results and Profitability
Q4 consolidated revenue of $642M was slightly higher year-over-year; Q4 adjusted EBITDA was $84M, representing a 13% margin, modestly above the midpoint of guidance.
Read all positive updates
Company Guidance
Teladoc guided 2026 consolidated revenue of $2.47B–$2.59B (midpoint roughly flat vs. 2025) and consolidated adjusted EBITDA of $266M–$308M (≈+2% YoY at midpoint), with full‑year free cash flow of $130M–$170M and stock‑based compensation expected below $60M (≥$20M decline vs. 2025). For Q1, consolidated revenue is guided to $598M–$620M and adjusted EBITDA to $50M–$62M; they expect the year to be slightly back‑loaded. Integrated Care revenue is expected to grow 0.4%–3.9% (midpoint includes ~60 bps M&A tailwind), with a full‑year adjusted EBITDA margin of 15.1%–16.1% (≈+45 bps vs. 2025) and year‑end U.S. members of 97M–100M; Q1 Integrated Care revenue is guided down 1.2% to up 2.0% YoY (including ~155 bps benefit from Catapult/TeleCare) with a Q1 margin of 12.5%–14.0%. BetterHelp revenue is guided down 7% to down 0.5% YoY, with insurance revenue targeted at $75M–$90M in 2026 (exiting the year at an annualized run rate of >$100M); BetterHelp Q1 revenue is guided down 11.25% to down 7% with Q1 insurance revenue of $10M–$13M, and full‑year BetterHelp adjusted EBITDA margin of 3.0%–4.6% (Q1: 0.75%–2.75%), while ad spend is expected to be down mid‑ to high‑single digits vs. 2025. Additional assumptions: visit revenue now >50% of U.S. Virtual Care, a $5M–$7M tariff headwind for Integrated Care (vs. $3M in 2025), and guidance assumes no specific change to debt structure (2027 convertible notes remain outstanding).Teladoc Financial Statement Overview
Summary
Income Statement
42
Neutral
Balance Sheet
55
Neutral
Cash Flow
74
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 2.53B | 2.57B | 2.60B | 2.41B | 2.03B |
| Gross Profit | 1.76B | 1.82B | 1.84B | 1.66B | 1.38B |
| EBITDA | 147.30M | 31.72M | 43.61M | -7.54M | -31.42M |
| Net Income | -200.32M | -1.00B | -220.37M | -13.66B | -428.79M |
Balance Sheet | |||||
| Total Assets | 3.10B | 3.52B | 4.39B | 4.70B | 17.73B |
| Cash, Cash Equivalents and Short-Term Investments | 781.08M | 1.30B | 1.12B | 918.18M | 896.02M |
| Total Debt | 1.04B | 1.58B | 1.59B | 1.59B | 1.28B |
| Total Liabilities | 1.72B | 2.03B | 2.07B | 2.39B | 1.69B |
| Stockholders Equity | 1.39B | 1.49B | 2.33B | 2.31B | 16.05B |
Cash Flow | |||||
| Free Cash Flow | 285.46M | 282.89M | 193.67M | 172.81M | 185.46M |
| Operating Cash Flow | 294.36M | 293.68M | 350.02M | 189.29M | 193.99M |
| Investing Cash Flow | -266.00M | -124.05M | -156.35M | -167.74M | -72.98M |
| Financing Cash Flow | -551.65M | 8.31M | 10.85M | 6.50M | 40.95M |
Teladoc Technical Analysis
Positive
5.48
Price Trends
5.45
Positive
6.46
Negative
7.19
Negative
Market Momentum
0.04
Negative
53.78
Neutral
39.01
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TDOC, the sentiment is Positive. The current price of 5.48 is above the 20-day moving average (MA) of 5.26, above the 50-day MA of 5.45, and below the 200-day MA of 7.19, indicating a neutral trend. The MACD of 0.04 indicates Negative momentum. The RSI at 53.78 is Neutral, neither overbought nor oversold. The STOCH value of 39.01 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TDOC.
Teladoc Risk Analysis
Teladoc disclosed 57 risk factors in its most recent earnings report. Teladoc reported the most risks in the "Legal & Regulatory" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Teladoc Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | $620.30M | 37.76 | 5.87% | 0.52% | 3.68% | 5.62% | |
53 Neutral | $977.61M | -6.16 | -14.24% | ― | -2.37% | 77.85% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
48 Neutral | $371.96M | -3.99 | -116.98% | ― | 13.66% | -2.65% | |
46 Neutral | $277.98M | -0.85 | -69.22% | ― | -16.65% | -71.92% | |
46 Neutral | $95.83M | -0.82 | -35.88% | ― | 4.33% | 50.50% | |
45 Neutral | $89.04M | -0.94 | -30.28% | ― | 4.64% | -17.17% |
* Healthcare Sector Average
TDOC
Teladoc
5.48
-3.16
-36.57%
HSTM
HealthStream
21.13
-10.72
-33.65%
EVH
Evolent Health
2.49
-6.84
-73.31%
HCAT
Health Catalyst
1.21
-3.26
-72.93%
AMWL
American Well
5.79
-2.11
-26.71%
SOPH
SOPHiA GENETICS
5.19
2.07
66.35%
Teladoc Corporate Events
Business Operations and StrategyExecutive/Board Changes
Teladoc Health Adds Michael S. Smith to Board
Positive
Feb 18, 2026
On February 18, 2026, Teladoc Health appointed Michael S. Smith, an experienced insurance and financial services executive, to its board of directors, expanding the board to ten members before it reverts to nine following the previously announced ...
Executive/Board Changes
Teladoc Announces Retirement of Long-Serving Board Director
Neutral
Feb 12, 2026
Teladoc Health, Inc. announced that long-serving board member Thomas G. McKinley, who has been a director since 2009, notified the company on February 8, 2026, of his intention to retire from the board effective February 20, 2026. The company emph...
Executive/Board ChangesShareholder Meetings
Teladoc Board Member J. Eric Evans to Retire
Neutral
Dec 16, 2025
On December 11, 2025, J. Eric Evans announced his decision to retire from Teladoc Health’s Board of Directors, effective after the 2026 Annual Meeting of Stockholders. Mr. Evans, who has served since 2023, is stepping down for personal reaso...
Business Operations and StrategyRegulatory Filings and Compliance
Teladoc Amends Incentive Plan to Increase Shares
Neutral
Dec 12, 2025
On December 9, 2025, Teladoc Health, Inc. amended its 2023 Employment Inducement Incentive Award Plan to increase the number of shares reserved for issuance by 1,780,000, bringing the total to 7,280,000 shares. This amendment, made without stockho...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.