Teladoc (TDOC)
NYSE:TDOC
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Teladoc
(NYSE:TDOC)
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Rating:56Neutral
Price Target:
$6.00
▲(5.45% Upside)
Action:ReiteratedDate:04/30/26
The score is driven by strong cash generation but constrained by continued net losses and uneven revenue momentum. Earnings-call takeaways are mixed: reaffirmed full-year guidance and execution in Integrated Care/insurance are positives, while BetterHelp declines and leverage/convertible-note uncertainty remain key risks. Technically, momentum is improving short-term but the stock is still below its 200-day average.
Positive Factors
Strong cash generation
Sustained positive operating and free cash flow gives Teladoc durable liquidity and strategic optionality. Over the next 2–6 months this supports investment in product and insurance rollouts, opportunistic M&A or debt paydown, and reduces reliance on near-term profitability turning positive.
Negative Factors
Ongoing unprofitable operations
Despite cash generation, Teladoc remains loss-making on an accounting basis with negative EBIT and net margin (~-6.8%) and negative ROE (~-12%). Persistent operating losses constrain retained earnings and investor returns and require continued execution to convert gross margin strength into sustained operating profitability.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong cash generation
Sustained positive operating and free cash flow gives Teladoc durable liquidity and strategic optionality. Over the next 2–6 months this supports investment in product and insurance rollouts, opportunistic M&A or debt paydown, and reduces reliance on near-term profitability turning positive.
Read all positive factors
Teladoc (TDOC) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.23B
Dividend YieldN/A
Average Volume (3M)4.62M
Price to Earnings (P/E)―
Beta (1Y)1.46
Revenue Growth-1.50%
EPS Growth83.75%
CountryUS
Employees4,620
SectorHealthcare
Sector Strength45
IndustryMedical - Healthcare Information Services
Share Statistics
EPS (TTM)-0.97
Shares Outstanding180,513,090
10 Day Avg. Volume4,035,591
30 Day Avg. Volume4,622,882
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 Cap1.23
Enterprise Value/Revenue0.60
Enterprise Value/Gross Profit0.91
Enterprise Value/Ebitda23.48
Forecast
1Y Price Target
$7.22Price Target Upside26.87% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering22
EPS Forecast (FY)-0.93
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 primarily generates revenue by delivering virtual healthcare services and related platform capabilities under contracts with organizations (such as health plans and employers) and through visit-based services. A major component of its mode...
Teladoc Key Performance Indicators (KPIs)
Any
Revenue by Geography
Breaks down sales by region (U.S. versus international), showing where revenue is concentrated and where growth opportunities or regulatory and currency risks exist. A heavy U.S. mix can imply steadier reimbursement while international growth offers upside—or added complexity.
Breaks down sales by region (U.S. versus international), showing where revenue is concentrated and where growth opportunities or regulatory and currency risks exist. A heavy U.S. mix can imply steadier reimbursement while international growth offers upside—or added complexity.
Data provided by:
The Fly
The FlyTeladoc Earnings Call Summary
Earnings Call Date:Apr 29, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Jul 28, 2026
Earnings Call Sentiment Positive
The call balanced clear progress on strategic priorities—Integrated Care growth and margin improvement, meaningful BetterHelp insurance momentum, AI-driven efficiency gains, and affirmed full-year guidance—against notable near-term challenges including a weakening BetterHelp cash-pay business, margin pressure, implementation timing shifts, free cash flow seasonality and lingering gross debt/convertible note risk. Execution on the insurance rollout and the transition from subscription to visit-based models are key catalysts that underpin upside; therapist capacity and near-term mix effects are the main risks to monitor.Positive Updates
Consolidated Revenue and EBITDA Beat
Q1 consolidated revenue of $614M and adjusted EBITDA of $58M (9.5% margin) both exceeded the midpoint of guidance, demonstrating better-than-expected execution.
Negative Updates
BetterHelp Revenue and User Declines
BetterHelp Q1 revenue was $218M, down 9% YoY. Average paying users declined 9% YoY to 361,000, driven by a mid-teens decline in the U.S.; non-U.S. markets saw high single-digit growth but did not offset domestic weakness.
Read all updates
Q1-2026 Updates
Positive
Negative
Consolidated Revenue and EBITDA Beat
Q1 consolidated revenue of $614M and adjusted EBITDA of $58M (9.5% margin) both exceeded the midpoint of guidance, demonstrating better-than-expected execution.
Read all positive updates
Company Guidance
The company reiterated 2026 consolidated guidance of $2.48B–$2.58B revenue, $267M–$306M adjusted EBITDA and $130M–$170M free cash flow (midpoints unchanged), with net loss per share roughly $0.75–$1.05 and full‑year stock‑based compensation expected below $55M (down >30% vs. 2025 and >70% since 2023). Q2 consolidated guidance is $597M–$626M revenue and $55M–$67M adjusted EBITDA. Integrated Care is guided to +0.8%–+3.5% revenue growth for the year (including ~65 bps inorganic and ~60 bps FX benefit), full‑year adjusted EBITDA margin 15.1%–16.1% (midpoint ≈ +45 bps vs. 2025), and Q2 revenue -1.75% to +1.75% (including ~70 bps from prior acquisitions) with Q2 margin 14.7%–16.0% (midpoint ≈ +65 bps YoY); Q1 Integrated Care was $395M (+1.5% YoY) with $56M adjusted EBITDA (14.2% margin), membership of 101.2M and Chronic Care enrollment of 1.2M. BetterHelp 2026 revenue is guided down 6.5% to down 1.0% versus 2025, with full‑year insurance revenue $90M–$105M (up $15M from prior) and an expected exit run‑rate ≥$125M; Q2 BetterHelp revenue is guided down 11.75% to down 5.25% with Q2 insurance revenue $18M–$22M (≈+50%+ sequentially), full‑year adjusted EBITDA margin 3.0%–4.6% and Q2 margin -0.5% to +1.5% (Q1 BetterHelp: $218M revenue, -9% YoY, $2M adj. EBITDA, 0.9% margin; average paying users 361k, -9%). Q1 consolidated results were $614M revenue, $58M adjusted EBITDA (9.5% margin), net cash outflow in FCF of $26M, $751M cash on hand and net debt to trailing adjusted EBITDA <0.9x (3.6x gross debt).Teladoc Financial Statement Overview
Summary
Income Statement
38
Negative
Balance Sheet
52
Neutral
Cash Flow
72
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.51B | 2.53B | 2.57B | 2.60B | 2.41B | 2.03B |
| Gross Profit | 1.65B | 1.76B | 1.82B | 1.84B | 1.66B | 1.38B |
| EBITDA | 64.06M | 147.30M | 31.72M | 43.61M | -7.54M | -31.42M |
| Net Income | -171.15M | -200.32M | -1.00B | -220.37M | -13.66B | -428.79M |
Balance Sheet | ||||||
| Total Assets | 2.81B | 3.10B | 3.52B | 4.39B | 4.70B | 17.73B |
| Cash, Cash Equivalents and Short-Term Investments | 750.74M | 781.08M | 1.30B | 1.12B | 918.18M | 896.02M |
| Total Debt | 1.03B | 1.04B | 1.58B | 1.59B | 1.59B | 1.28B |
| Total Liabilities | 1.47B | 1.72B | 2.03B | 2.07B | 2.39B | 1.69B |
| Stockholders Equity | 1.34B | 1.39B | 1.49B | 2.33B | 2.31B | 16.05B |
Cash Flow | ||||||
| Free Cash Flow | 251.09M | 285.46M | 282.89M | 193.67M | 172.81M | 185.46M |
| Operating Cash Flow | 287.95M | 294.36M | 293.68M | 350.02M | 189.29M | 193.99M |
| Investing Cash Flow | -179.26M | -266.00M | -124.05M | -156.35M | -167.74M | -72.98M |
| Financing Cash Flow | -554.87M | -551.65M | 8.31M | 10.85M | 6.50M | 40.95M |
Teladoc Technical Analysis
Positive
5.69
Price Trends
5.17
Positive
6.05
Negative
6.99
Negative
Market Momentum
0.06
Negative
59.07
Neutral
83.97
Negative
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 5.69 is above the 20-day moving average (MA) of 5.37, above the 50-day MA of 5.17, and below the 200-day MA of 6.99, indicating a neutral trend. The MACD of 0.06 indicates Negative momentum. The RSI at 59.07 is Neutral, neither overbought nor oversold. The STOCH value of 83.97 is Negative, 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 |
|---|---|---|---|---|---|---|---|
75 Outperform | $678.42M | 25.74 | 5.67% | 0.52% | 6.64% | 6.54% | |
59 Neutral | $118.35M | -2.00 | -35.14% | ― | -9.29% | 46.89% | |
56 Neutral | $1.23B | -3.82 | -12.37% | ― | -1.50% | 83.75% | |
53 Neutral | $436.69M | -0.27 | -69.22% | ― | -26.56% | -531.94% | |
52 Neutral | $359.78M | -4.15 | -116.98% | ― | 18.56% | -23.69% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
44 Neutral | $115.53M | -0.94 | -54.67% | ― | 1.48% | -119.42% |
* Healthcare Sector Average
TDOC
Teladoc
6.80
-0.06
-0.87%
HSTM
HealthStream
23.15
-3.59
-13.44%
EVH
Evolent Health
3.83
-6.62
-63.35%
HCAT
Health Catalyst
1.57
-2.40
-60.45%
AMWL
American Well
7.15
0.37
5.46%
SOPH
SOPHiA GENETICS
5.02
2.02
67.33%
Teladoc Corporate Events
Business Operations and StrategyExecutive/Board Changes
Teladoc Adds Susan Salka to Expanded Board of Directors
Positive
Mar 30, 2026
On March 30, 2026, Teladoc Health, Inc. increased the size of its board of directors to nine members and appointed experienced healthcare executive Susan R. Salka as a director, effective immediately. Salka, the former president and CEO of AMN Hea...
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...
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.