Oncology Institute (TOI) AI Stock Analysis

• Market Cap: $285.42M
• Dividend Yield: N/A
• Average Volume (3M): 1.83M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.57
• Revenue Growth: 17.64%
• EPS Growth: 13.86%
• Country: US
• Employees: 825
• Sector: Healthcare
• Sector Strength: 41
• Industry: Medical - Care Facilities
• EPS (TTM): -0.21
• Shares Outstanding: 89,194,115
• 10 Day Avg. Volume: 1,994,216
• 30 Day Avg. Volume: 1,831,347
• PEG Ratio: -0.36
• Price to Book (P/B): 486.72
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -14.90
• Enterprise Value/Market Cap: 0.96
• Enterprise Value/Revenue: 0.18
• Enterprise Value/Gross Profit: 4.62
• Enterprise Value/Ebitda: -1.25
• 1Y Price Target: $7.00
• Price Target Upside: 118.75% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1

• Rating: 55 Neutral
• Price Target: $3.00 ▼(-6.25%Downside)

The Oncology Institute's stock score is primarily affected by its weak financial performance, with significant challenges in profitability and cash flow. Positive technical momentum and strategic earnings call highlights provide some optimism, while the upcoming PIPE financing may bolster future growth prospects.

Positive Factors

Business Model

TOI can help deliver significant cost savings with lower inpatient admissions and healthcare costs, while providing high-quality, well-managed oncology services.

Expansion and Growth

TOI continues to expand into new markets and increase the number of patients served, driven by macro trends and a differentiated business model.

Financial Performance

Margins are expected to improve as TOI signed an improved contract, reduced SG&A costs, and is focusing on driving earnings, aiming for positive EBITDA and FCF.

Negative Factors

Revenue Model Shift

TOI is working to transition some patients from a fee-for-service model to value-based-care, with ~46% of revenue in 2024 coming from VBC contracts.

Oncology Institute Business Overview & Revenue Model

Company Description

The Oncology Institute, Inc. (TOI) is a healthcare services company focused on providing comprehensive, patient-centric cancer care. With a network of clinics, TOI operates in the oncology sector, offering an array of services including medical oncology, radiation oncology, and supportive care. The company's core mission is to improve the quality of life for cancer patients by delivering personalized treatment plans and access to cutting-edge therapies.

How the Company Makes Money

The Oncology Institute, Inc. makes money primarily through providing medical services to patients diagnosed with cancer. Its revenue model is based on billing for patient consultations, treatment sessions, and various oncology-related services. Revenue streams include payments from private insurance companies, government healthcare programs like Medicare and Medicaid, and direct payments from patients. TOI may also generate income through partnerships with pharmaceutical companies for clinical trials and research initiatives, although these are typically supplementary to its main revenue from clinical services. Additionally, TOI continuously seeks to expand its clinic network, which could contribute to increased patient volume and, subsequently, higher revenue.

Oncology Institute Financial Statement Overview

Summary

The Oncology Institute shows significant revenue growth but faces profitability challenges. High leverage and negative margins present financial risks. Improvement efforts are needed in operational efficiency and debt reduction.

Income Statement

The Oncology Institute shows a mix of growth and challenges. While revenue has grown significantly over the years, increasing by 21.34% from 2023 to TTM, profitability remains an issue with persistent negative net income and EBIT margins. Gross profit margin improved to 35.12% in TTM, indicating better cost management. However, negative EBIT and EBITDA margins, at -15.28% and -13.68% respectively, reflect ongoing operational challenges.

Balance Sheet

The balance sheet reveals a highly leveraged position with a debt-to-equity ratio of 8.37 in TTM, signaling potential financial risk. Stockholders' equity has drastically reduced to $3.59 million, contributing to a low equity ratio of 2.08%. Return on equity is negative, indicating inefficiencies in generating returns from shareholders' investments.

Cash Flow

Cash flow analysis highlights difficulties in cash generation, with negative operating and free cash flow in TTM. Despite improved free cash flow from 2023 to TTM, the operating cash flow to net income ratio remains negative, indicating cash flow issues. The firm needs to improve its cash management and operational profitability.

Breakdown
TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement		Total Revenue
403.15M	393.41M	324.24M	252.48M	203.00M	187.51M
	Gross Profit
59.28M	54.00M	59.57M	52.09M	40.85M	36.88M
	EBIT
-52.06M	-60.12M	-77.02M	-72.01M	-45.86M	-8.20M
	EBITDA
-46.70M	-50.88M	-70.45M	8.40M	-7.94M	-11.29M
	Net Income Common Stockholders
-64.36M	-64.66M	-83.07M	1.66M	-10.93M	-14.32M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
39.74M	49.67M	82.86M	73.81M	114.30M	6.00M
	Total Assets
164.00M	172.72M	209.24M	263.75M	203.44M	65.69M
	Total Debt
102.31M	123.15M	119.67M	108.18M	183.00K	11.93M
	Net Debt
62.57M	73.48M	86.19M	94.17M	-114.12M	5.93M
	Total Liabilities
158.93M	169.13M	152.22M	139.07M	99.28M	37.59M
	Stockholders Equity
5.07M	3.59M	57.02M	124.68M	104.16M	28.10M
Cash Flow		Free Cash Flow
-19.15M	-30.33M	-40.88M	-67.28M	-35.73M	-685.88K
	Operating Cash Flow
-15.64M	-26.54M	-36.31M	-61.76M	-32.68M	508.24K
	Investing Cash Flow
26.62M	46.21M	62.64M	-131.61M	-12.15M	-8.84M
	Financing Cash Flow
-7.29M	-3.49M	-6.85M	92.21M	154.01M	11.89M

Oncology Institute Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 3.20
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TOI, the sentiment is Positive. The current price of 3.2 is above the 20-day moving average (MA) of 2.94, above the 50-day MA of 2.38, and above the 200-day MA of 0.93, indicating a bullish trend. The MACD of 0.23 indicates Positive momentum. The RSI at 61.36 is Neutral, neither overbought nor oversold. The STOCH value of 74.45 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TOI.

Oncology Institute Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
NHC	76 Outperform	$1.62B	15.14	11.19%	2.33%	19.16%	31.92%
EHC	68 Neutral	$12.25B	25.08	25.33%	0.54%	11.21%	30.38%
SEM	64 Neutral	$1.97B	11.39	10.38%	2.45%	-8.86%	-36.22%
ACHC	60 Neutral	$2.07B	11.09	6.35%	―	5.48%	―
CYH	59 Neutral	$538.78M	―	39.18%	―	1.05%	-288.07%
TOI	55 Neutral	$285.42M	―	-227.77%	―	17.64%	13.86%
Sector *	53 Neutral	$5.25B	3.24	-45.38%	2.81%	16.79%	-0.06%

Oncology Institute Corporate Events

Oncology Institute Explores PIPE Financing Opportunity

The Oncology Institute, Inc. has prepared an investor presentation to explore a potential private placement of securities, known as PIPE Financing. The presentation highlights the company’s unique approach in the oncology market, emphasizing its capability to manage population-level care contracts and its focus on reducing patient healthcare costs. The company’s strategy positions it to capitalize on the growing oncology market, driven by factors such as reimbursement misalignment and high-cost drugs.

The most recent analyst rating on (TOI) stock is a Buy with a $7.00 price target. To see the full list of analyst forecasts on Oncology Institute stock, see the TOI Stock Forecast page.

Oncology Institute Holds Annual Stockholders Meeting

On May 7, 2025, The Oncology Institute held its Annual Meeting of Stockholders where three proposals were considered. The stockholders elected eight directors, ratified the appointment of BDO USA, LLP as the independent registered public accounting firm, and approved a proposal to amend the company’s certificate of incorporation to potentially effect a reverse stock split.

Oncology Institute COO Jeremy Castle Resigns

On May 2, 2025, Jeremy Castle announced his resignation as Chief Operating Officer of The Oncology Institute, Inc., effective May 30, 2025. His departure was not due to any disagreements with the company regarding its operations, policies, or practices.

Oncology Institute, Inc. Prepares for PIPE Financing

The Oncology Institute, Inc. has prepared an investor presentation to discuss a potential private placement of securities (PIPE Financing). The presentation is intended for qualified institutional buyers and accredited investors, emphasizing confidentiality and disclaiming any offer or solicitation of securities. The company highlights its unique market position and the significant growth potential in the oncology sector, driven by complex clinical pathways and high-cost drugs. The Institute’s integrated approach aims to reduce patient healthcare costs and improve access to cutting-edge treatments.