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Teladoc
(NYSE:TDOC)
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Rating:61Neutral
Price Target:
$9.00
▲(58.17% Upside)
Action:Reiterated
Date:06/30/26
TDOC scores as a mixed setup: strong technical momentum and solid underlying cash generation support the stock, but the overall score is held back by continued net losses/negative returns, uneven revenue trajectory, and earnings-call risks centered on BetterHelp declines, near-term margin headwinds, and capital structure uncertainty despite reiterated 2026 guidance.
Positive Factors
Strong cash generation (TTM operating & free cash flow)
Consistent positive operating and free cash flow provides durable internal funding to support operations, pay down debt, and invest in product and insurance rollouts. This cash conversion cushions the business through earnings volatility and reduces reliance on external financing over the next 2–6 months.
Negative Factors
Ongoing negative profitability and returns
Sustained negative EBIT and returns limit internal reinvestment and shareholder value creation. Even with cash flow, persistent operating losses mean management must balance growth investments and cost cuts, slowing margin recovery and prolonging the path to durable profitability.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong cash generation (TTM operating & free cash flow)
Consistent positive operating and free cash flow provides durable internal funding to support operations, pay down debt, and invest in product and insurance rollouts. This cash conversion cushions the business through earnings volatility and reduces reliance on external financing over the next 2–6 months.
Read all positive factors
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 (TDOC) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.68B
Dividend YieldN/A
Average Volume (3M)4.49M
Price to Earnings (P/E)―
Beta (1Y)1.63
Revenue Growth-1.50%
EPS Growth83.75%
CountryUS
Employees5,600
SectorHealthcare
Sector Strength45
IndustryMedical - Healthcare Information Services
Share Statistics
EPS (TTM)-0.97
Shares Outstanding180,513,090
10 Day Avg. Volume4,510,948
30 Day Avg. Volume4,488,949
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 Cap0.99
Enterprise Value/Revenue0.66
Enterprise Value/Gross Profit1.00
Enterprise Value/Ebitda28.92
Forecast
1Y Price Target
$7.25Price Target Upside27.42% Upside
Rating ConsensusHold
Number of Analyst Covering16
EPS Forecast (FY)-0.91
Revenue Forecast (FY)$2.51B
Teladoc Business Overview & Revenue Model
Company Description
Teladoc Health, Inc. offers remote medical services to individuals both domestically in the United States and internationally. Their extensive range of solutions covers a wide array of health needs, from routine and acute conditions to complex and...
How the Company Makes Money
Teladoc primarily generates revenue by selling access to and utilization of its virtual-care products through business-to-business arrangements and, to a lesser extent, direct patient use. A core component is subscription- and access-based fees pa...
Teladoc 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 | 57.31M | 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 | 1.04B | 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
7.43
Positive
6.38
Positive
6.85
Positive
Market Momentum
0.59
Negative
68.38
Neutral
70.62
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 5.69 is below the 20-day moving average (MA) of 8.33, below the 50-day MA of 7.43, and below the 200-day MA of 6.85, indicating a bullish trend. The MACD of 0.59 indicates Negative momentum. The RSI at 68.38 is Neutral, neither overbought nor oversold. The STOCH value of 70.62 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 58 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 |
|---|---|---|---|---|---|---|---|
79 Outperform | $820.36M | 42.10 | 5.67% | 0.52% | 6.64% | 6.54% | |
63 Neutral | $165.58M | -1.78 | -35.14% | ― | -9.29% | 46.89% | |
61 Neutral | $1.68B | -9.58 | -12.37% | ― | -1.50% | 83.75% | |
54 Neutral | $474.01M | -4.70 | -140.63% | ― | 20.85% | -18.60% | |
53 Neutral | $661.39M | -1.24 | -77.89% | ― | -21.26% | -290.08% | |
52 Neutral | $169.22M | -0.61 | -99.78% | ― | -2.83% | -223.32% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
* Healthcare Sector Average
TDOC
Teladoc
9.28
1.01
12.21%
HSTM
HealthStream
28.08
1.13
4.20%
EVH
Evolent Health
5.88
-5.48
-48.24%
HCAT
Health Catalyst
2.29
-1.57
-40.67%
AMWL
American Well
9.91
1.83
22.65%
SOPH
SOPHiA GENETICS
5.65
2.19
63.29%
Teladoc Corporate Events
Executive/Board ChangesShareholder Meetings
Teladoc Shareholders Approve Board, Pay and Auditor
Positive
May 21, 2026
At its 2026 Annual Meeting of Stockholders, held on May 21, 2026, Teladoc Health shareholders elected all nine director nominees to serve until the 2027 Annual Meeting, including Charles Divita III, Sandra L. Fenwick and Mark Douglas Smith. The vo...
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...
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.