Oscar Health, Inc. (OSCR) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-712.7%

-$188.53

vs $30.77 price

Levered DCF

$59.39

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

1.85

Grey zone

Rating

Overall 4 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	-8.5×	122.18×	-7.5×	-0.86×	-2.46×	-20.47×	-3.9×
P/B	3.86×	3.19×	2.52×	0.59×	1.01×	-6.43×	-1.08×
P/S	0.32×	0.35×	0.35×	0.13×	0.73×	14.12×	1.84×
EV / EBITDA	-3.65×	22.43×	-2.15×	1.29×	-0.55×	-19.55×	-2.7×
Gross margin	14.4%	20.1%	20.8%	100.0%	100.0%	100.0%	100.0%
Operating margin	-3.4%	0.6%	-4.0%	-14.8%	-29.7%	-68.8%	-46.8%
Net margin	-3.8%	0.3%	-4.6%	-14.7%	-29.8%	-69.0%	-47.2%
Current ratio	0.95×	0.9×	-11.82×	1.4×	1.71×	0×	0×
Debt / equity	0.44×	0.3×	0.37×	0.33×	0×	-0.11×	0×
Interest coverage	-22.52×	2.41×	-9.58×	-26.97×	-120.89×	-115.48×	0×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	-45.3%	2.5%	-33.7%	-68.1%	-41.3%	31.4%	27.6%
Return on invested capital	-27.1%	2.7%	-6.2%	-39.1%	-33.6%	0.0%	0.0%
Return on assets	-7.0%	0.5%	-7.5%	-13.4%	-17.2%	-17.9%	-19.4%
Free cash flow yield	28.1%	29.4%	-14.7%	67.2%	-14.8%	2.5%	-18.8%
Earnings yield	-11.8%	0.8%	-13.3%	-116.0%	-40.8%	-4.9%	-25.6%
Enterprise value	$1.4B	$2B	$456.6M	-$737.9M	$300.9M	$7.6B	$681.7M
Net debt / EBITDA	5.99×	-13.75×	7.41×	2.2×	2×	1.75×	1.33×
Cash conversion cycle (days)	17	-57	-50	103	198	60	36