Oscar Health OSCR

NYSE · Hospital & Medical Service Plans · $9.2B

$33.18−5.71%Nov 5 close · Databento

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OSCR Wire Story Reactions & EOD Technical StudyDaily closes (Databento EOD) pinned with every AlgoThesis Wire story (dot colour = next trading day close) and SEC filing

Nov 5, 2026CLOSE $33.181D −5.71%3M +19.91%SMA20 $32.53SMA50 $31.83RSI(14) 54.3

33.18

RSI (14, Wilder EOD) · 70 Overbought / 30 OversoldRSI 54.3

Data provided by Databento (end of day). Next close = the first close after a story against the close before it; official daily closes only, not a call, not advice.

The numbers

fiscal 2025, as filed with the SEC · 66-metric EOD snapshot via Databento

Market cap$9.2B

Enterprise value$6.9B

Revenue$11.7B +27.5%

Operating margin-3.4%

EPS, diluted$-1.69 −1790.0%

Modern Valuation (EOD)

Market Cap$9.2B

Enterprise Value$6.9B

EV / True FCF—

EV / FCF—

EV / Gross Profit—

EV / EBIT—

EV / Sales0.59

P / E (GAAP)—

P / FCF—

P / Oper. CF8.43

P / Book9.41

Owner & Cash Yields

True FCF Yield—

FCF Yield—

Owner Earn. Yield—

Earnings Yield-4.8%

Shareholder Yield−0.9%

Buyback Yield0.0%

Dividend Yield—

Dividend / sh—

Payout Ratio—

FCF / sh—

EPS (diluted)$-1.69

Compounder & Returns

Rule of 40—

ROIC—

Cash ROIC (CROIC)—

GP / Assets—

ROE-45.2%

ROA-7.0%

Gross Margin—

Oper. Margin-3.4%

Net Margin-3.8%

FCF Margin—

True FCF Margin—

Quality & Dilution

Cash Conversion—

Accrual Ratio−24.3%

SBC % of FCF—

SBC % of Rev0.7%

Reinvest. Rate—

Sales Growth Y/Y+27.5%

Sales 3Y CAGR+43.5%

EPS Growth Y/Y−1790.0%

FCF Growth Y/Y—

FCF 3Y CAGR—

Share Change Y/Y−1.3%

Balance Sheet & Scale

Revenue (FY)$11.7B

Gross Profit (FY)—

Oper. Income (FY)$-396.4M

GAAP Net Income$-443.2M

True FCF (ex-SBC)—

Cash & Equiv$2.8B

Total Debt$430.1M

Net Cash (Debt)$2.4B

Net Cash % MCap+25.7%

Debt / FCF (yrs)—

Current Ratio0.95

Price & Technicals (EOD)

Perf Week+7.76%

Perf Month+0.82%

Perf Quarter+18.92%

Perf Half Y+58.98%

Perf YTD+101.82%

SMA 20 Dist+1.99%$32.53

SMA 50 Dist+4.24%$31.83

SMA 100 Dist+7.10%$30.98

Window High−5.71%$35.19

Window Low+105.19%$16.17

RSI (14) · Vol54.357%v

Income Distribution & Cash Flow ConversionHow every dollar of OSCR revenue flows through cost of goods, operating expenses, taxes, GAAP net income, and dilution-adjusted free cash flow

Where Every $100 of Revenue Goes (FY2025)

Cost of Revenue (COGS)$0 ($0.0 / $100)

SG&A & Other OpEx$12.1B ($103.4 / $100)

Tax & Non-Operating$46.8M ($0.4 / $100)

Net Profit Kept$-443.2M ($0.0 / $100)

Earnings Quality: GAAP Profit → True Owner Cash (FY2025)

GAAP Net Income$-443.2M (-3.8% margin)

Operating Cash Flow (OCF)$1.1B(9.4% of rev)

Less: Capital Expenditures—

Standard Free Cash Flow (FCF)—

Less: Stock-Based Comp (SBC)−$87.7M

True FCF (Owner Cash ex-SBC)—

Revenue by fiscal year

Operating leverage — margins

GrossOperatingNet

Line Item (USD)	FY2021	FY2022	FY2023	FY2024	FY2025	YoY Δ	4Y CAGR
Income Statement
Revenue	$1.8B	$4.0B	$5.9B	$9.2B	$11.7B	+27.5%	+58.8%
Selling, General & Admin (SG&A)	—	$1.3B	$1.4B	$1.8B	$2.0B	+16.8%	+17.7%
Operating Income (EBIT)	$-544.5M	$-589.9M	$-235.6M	$57.3M	$-396.4M	−792.1%	—
Interest Expense	$4.7M	$22.6M	$24.6M	$23.7M	$17.6M	−25.8%	+39.0%
Income Tax Expense	$846,000	$-523,000	$3.3M	$7.3M	$5.6M	−23.3%	+60.4%
GAAP Net Income	$-572.6M	$-606.3M	$-270.7M	$25.4M	$-443.2M	−1842.5%	—
Diluted EPS	$-3.20	$-2.85	$-1.22	$0.10	$-1.69	−1790.0%	—
Diluted Shares	179.0M	212.5M	221.7M	265.9M	262.4M	−1.3%	+10.0%
Balance Sheet
Cash & Equivalents	$1.1B	$1.6B	$1.9B	$1.6B	$2.8B	+80.8%	+25.6%
Total Current Assets	$2.3B	$4.1B	$3.1B	$2.8B	$4.6B	+62.1%	+18.9%
Total Assets	$3.3B	$4.5B	$3.6B	$4.8B	$6.3B	+30.7%	+17.5%
Total Current Liabilities	$1.9B	$3.3B	$2.4B	$3.5B	$4.9B	+40.4%	+27.3%
Total Debt (Short + Long Term)	$0	$298.0M	$298.8M	$299.6M	$430.1M	+43.6%	—
Total Liabilities	$1.9B	$3.6B	$2.8B	$3.8B	$5.3B	+39.8%	+29.0%
Stockholders' Equity	$1.4B	$892.4M	$806.1M	$1.0B	$980.7M	−3.5%	−8.4%
Net Cash / (Net Debt)	$1.1B	$1.3B	$1.6B	$1.3B	$2.4B	+89.7%	+20.5%
Invested Capital	$267.0M	$-390.1M	$-787.1M	$-235.1M	$-1.4B	−492.5%	—
Cash Flow & Capital Allocation
Operating Cash Flow (OCF)	$-181.7M	$380.3M	$-272.2M	$978.2M	$1.1B	+11.9%	—
Depreciation & Amortization (D&A)	$14.6M	$15.3M	$30.7M	$32.1M	$28.9M	−10.1%	+18.6%
Stock-Based Compensation (SBC)	$86.3M	$112.3M	$159.7M	$109.8M	$87.7M	−20.2%	+0.4%
Share Repurchases (Buybacks)	$0	—	—	—	$0	—	—

Fundamentals, income distribution and multi-year statements from SEC EDGAR filings (public domain). Valuation multiples, performance and technicals computed from Databento 1D EOD closes. For information only, not investment advice.

On the Wire

what OSCR did at the next close after each story

No Wire story has named OSCR yet.

What happened · big days

24 big days in a year, and what we hold on each

A big day is a close more than 6.63% from the one before, three times OSCR’s median day (2.21%). On 0 of the 24, its peer group moved the same way at least half as far. We show what we hold. We never name a cause.

every other trading daya big day, numbered in the list below±6.63%Hover a bar for its day. Click a big day to open it.

Shaded: since our stories began, Jun 10. Tap a bar for its day.

#DayOSCRWhat we hold that dayGroup (median of 4) · each

1 Nov 7, 2025+7.00%
Before our storiesgroup +0.9%, did not move with it
1Nov 7, 2025+7.00%
Before our stories
+0.9% did not move with itCI +3.2 · ELV +1.1 · UNH +0.8 · HUM +0.4
2 Nov 10, 2025−17.55%
Before our storiesgroup −3.4%, did not move with it
2Nov 10, 2025−17.55%
Before our stories
−3.4% did not move with itHUM −5.4 · ELV −4.4 · CI −2.4 · UNH −0.8
3 Nov 13, 2025−7.62%
Before our storiesgroup −0.7%, did not move with it
3Nov 13, 2025−7.62%
Before our stories
−0.7% did not move with itUNH −1.9 · HUM −1.6 · CI +0.1 · ELV +0.2
4 Nov 20, 2025−7.46%
Before our storiesgroup −0.8%, did not move with it
4Nov 20, 2025−7.46%
Before our stories
−0.8% did not move with itHUM −2.5 · CI −0.9 · ELV −0.8 · UNH +0.8
5 Nov 24, 2025+22.33%
Before our storiesgroup +0.3%, did not move with it
5Nov 24, 2025+22.33%
Before our stories
+0.3% did not move with itELV +2.5 · HUM +0.9 · UNH −0.3 · CI −2.4
6 Nov 26, 2025+8.55%
Before our storiesgroup +0.9%, did not move with it
6Nov 26, 2025+8.55%
Before our stories
+0.9% did not move with itHUM +3.4 · UNH +1.1 · ELV +0.7 · CI +0.1
7 Dec 1, 2025−7.35%
Before our storiesgroup −1.7%, did not move with it
7Dec 1, 2025−7.35%
Before our stories
−1.7% did not move with itELV −2.5 · UNH −2.0 · HUM −1.4 · CI −1.3
8 Dec 10, 2025−8.08%
Before our storiesgroup +2.0%, did not move with it
8Dec 10, 2025−8.08%
Before our stories
+2.0% did not move with itCI −0.0 · UNH +1.5 · HUM +2.5 · ELV +3.4
9 Jan 5, 2026+10.69%
Before our storiesgroup +2.2%, did not move with it
9Jan 5, 2026+10.69%
Before our stories
+2.2% did not move with itHUM +4.3 · ELV +2.6 · CI +1.7 · UNH +1.7
10 Mar 4, 2026+10.10%
Before our storiesgroup +0.9%, did not move with it
10Mar 4, 2026+10.10%
Before our stories
+0.9% did not move with itELV +2.6 · UNH +0.9 · HUM +0.8 · CI +0.3
11 Apr 6, 2026+7.05%
Before our storiesgroup +1.8%, did not move with it
11Apr 6, 2026+7.05%
Before our stories
+1.8% did not move with itHUM +2.7 · CI +2.1 · UNH +1.5 · ELV +0.6
12 Apr 8, 2026+12.88%
Before our storiesgroup +0.9%, did not move with it
12Apr 8, 2026+12.88%
Before our stories
+0.9% did not move with itELV +2.0 · CI +1.2 · HUM +0.6 · UNH −0.6
13 Apr 13, 2026+7.13%
Before our storiesgroup +2.2%, did not move with it
13Apr 13, 2026+7.13%
Before our stories
+2.2% did not move with itHUM +3.2 · UNH +2.9 · ELV +1.5 · CI +1.4
14 May 6, 2026+10.59%
Resultsgroup +1.9%, did not move with it
14May 6, 2026+10.59%
ResultsFirst close after the May 6 results filing
+1.9% did not move with itHUM +2.8 · CI +2.3 · ELV +1.5 · UNH +0.9
15 May 12, 2026+7.86%
Before our storiesgroup +3.2%, did not move with it
15May 12, 2026+7.86%
Before our stories
+3.2% did not move with itHUM +7.7 · CI +3.3 · UNH +3.1 · ELV +3.0
16 May 18, 2026+8.49%
Before our storiesgroup +0.3%, did not move with it
16May 18, 2026+8.49%
Before our stories
+0.3% did not move with itCI +0.5 · ELV +0.3 · HUM +0.3 · UNH −0.7
17 Jun 2, 2026−7.97%
Before our storiesgroup −1.4%, did not move with it
17Jun 2, 2026−7.97%
Before our stories
−1.4% did not move with itELV −3.4 · HUM −2.3 · CI −0.5 · UNH −0.5
18 Jun 4, 2026+15.12%
Before our storiesgroup +4.9%, did not move with it
18Jun 4, 2026+15.12%
Before our stories
+4.9% did not move with itHUM +6.8 · UNH +5.2 · ELV +4.6 · CI +3.7
19 Jun 8, 2026+11.75%
Before our storiesgroup +1.2%, did not move with it
19Jun 8, 2026+11.75%
Before our stories
+1.2% did not move with itUNH +1.8 · HUM +1.7 · ELV +0.6 · CI +0.0
20 Jul 1, 2026+11.85%
Nothing on OSCRgroup +2.8%, did not move with it
20Jul 1, 2026+11.85%
Nothing on OSCRNo OSCR story, brief or results filing in our record that day
+2.8% did not move with itELV +7.6 · HUM +3.1 · UNH +2.6 · CI +0.5
21 Jul 28, 2026+10.80%
Nothing on OSCRgroup +2.3%, did not move with it
21Jul 28, 2026+10.80%
Nothing on OSCRNo OSCR story, brief or results filing in our record that day
+2.3% did not move with itCI +3.5 · UNH +2.7 · HUM +2.0 · ELV +1.9
22 Aug 6, 2026−11.86%
Resultsgroup +0.5%, did not move with it
22Aug 6, 2026−11.86%
ResultsFirst close after the Aug 6 results filing
+0.5% did not move with itUNH −2.1 · ELV +0.0 · HUM +0.9 · CI +1.8
23 Oct 23, 2026−6.99%
Nothing on OSCRgroup −1.4%, did not move with it
23Oct 23, 2026−6.99%
Nothing on OSCRNo OSCR story, brief or results filing in our record that day
−1.4% did not move with itCI −2.8 · UNH −1.6 · ELV −1.2 · HUM +0.3
24 Nov 4, 2026+8.58%
Nothing on OSCRgroup +2.3%, did not move with it
24Nov 4, 2026+8.58%
Nothing on OSCRNo OSCR story, brief or results filing in our record that day
+2.3% did not move with itELV +4.9 · CI +3.4 · UNH +1.2 · HUM −0.1

A story on the same day is not a cause, and a group move is not proof either. Group: the median of UNH, ELV, CI and HUM that day, the largest companies in OSCR’s SEC industry; “moved with OSCR” means the same direction and at least half the size.

What’s next · results

Before the next report: what the first day after the last four did

Six trading days after each results filing (SEC 8-K, Item 2.02). OSCR reports before the open, so day 1 is that day’s close. 3 of 4 times, day 6 ended on the same side as day 1.

Reported Nov 6, 2025

day 1−2.76%day 6−18.09%

Reported Feb 10, 2026

day 1+1.74%day 6+8.21%

Reported May 6, 2026

day 1+10.59%day 6+31.66%

Reported Aug 6, 2026

day 1−11.86%day 6+2.23%

Next report: expected early FebruaryEstimated from the dates of its last four results filings. Not announced. Since the Nov 5 report: −5.71%. Four reports is a small sample.

Every report since 2023 →

Each line is OSCR’s close against its close before the filing, on licensed end-of-day closes. What happened after each report, not a forecast; a move on the day is not a cause.

Same industry

OSCR against four health insurance peers, a year at 100

OSCR is up 87.3% in a year. All four did less: Humana (+65.6%), Elevance Health (+36.6%), UnitedHealth (+26.3%) and Cigna Group (+15.4%). Weekly closes, Nov 7, 2025 = 100, on a log scale, so the same percentage move is the same height on every line.

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OSCR +87.3%. Humana +65.6%, Elevance Health +36.6%, UnitedHealth +26.3%, Cigna Group +15.4%. Weekly closes, Nov 7, 2025 = 100, log scale.

Share this chart

End-of-day closes (Databento EOD), the last close of each week. The four peers are the largest US-listed companies by market value in OSCR’s SEC industry (Hospital & Medical Service Plans) with a year of closes. It shows what the closes did; a move here is not a cause, a forecast or a call.

The Wire at 7 AM ET, free. Top stories with a bull and a bear case on each, every morning. No account needed.

UNH	UnitedHealth	$367.5B	−3.34%
ELV	Elevance Health	$94.2B	−0.50%
CI	Cigna Group	$80.7B	−1.29%
HUM	Humana	$50.1B	−1.35%
CNC	Centene	$37.5B	−2.42%
MOH	Molina Healthcare	$11.8B	−4.32%
CLOV	Clover Health Investments	$2.4B	−4.48%
ALHC	Alignment Healthcare	$1.7B	−7.13%