NYSE : OSCR
Oscar Health, Inc. — Financial statements
Healthcare · Healthcare Plans · United States
Last price 30.37 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 9.36B
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Financial statements
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Premiums & Annuity Revenue | 15.04B | 11.47B | 8.97B | 5.69B | 3.87B | 1.89B |
| Total Interest & Dividend Income | 248.23M | 202.94M | 185.73M | 155.45M | 27.59M | 2.30M |
| Other Revenue | 29.58M | 28.59M | 20.58M | 21.35M | 64.93M | 5.39M |
| Total Revenue | 15.32B | 11.70B | 9.18B | 5.86B | 3.96B | 1.89B |
| Policy Benefits | 12.23B | 10.02B | 7.33B | 4.64B | 3.28B | 1.62B |
| Depreciation & Amortization | 28.27M | 28.89M | 32.15M | 30.69M | 15.28M | |
| Selling, General & Administrative | 2.43B | 2.05B | 1.76B | 1.43B | 1.26B | 360.16M |
| Other Operating Expenses | 368.07M | |||||
| Total Operating Expenses | 14.69B | 12.10B | 9.12B | 6.10B | 4.55B | 2.44B |
| Operating Income | 629.72M | -396.36M | 57.27M | -235.62M | -589.87M | -544.48M |
| Interest Expense | -15.85M | -17.60M | -23.73M | -24.60M | -22.62M | -4.72M |
| Other Non Operating Income (Expenses) | -24.06M | -23.34M | -105.00K | -7.08M | 2.42M | -1.20M |
| EBT Excluding Unusual Items | 589.81M | -437.30M | 33.43M | -267.30M | -610.08M | -550.40M |
| Other Unusual Items | -20.18M | |||||
| Pretax Income | 589.81M | -437.30M | 33.43M | -267.30M | -610.08M | -570.58M |
| Income Tax Expense | 38.88M | 5.61M | 7.30M | 3.29M | -523.00K | 846.00K |
| Earnings From Continuing Ops. | 550.93M | -442.90M | 26.12M | -270.59M | -609.55M | -571.43M |
| Minority Interest in Earnings | -190.00K | -248.00K | -689.00K | -134.00K | 3.28M | -1.18M |
| Net Income | 550.74M | -443.15M | 25.43M | -270.73M | -606.27M | -572.61M |
| Net Income to Common | 550.74M | -443.15M | 25.43M | -270.73M | -606.27M | -572.61M |
| Shares Outstanding (Basic) | 285.78M | 262.39M | 240.39M | 221.66M | 212.47M | 178.97M |
| Shares Outstanding (Diluted) | 292.91M | 262.39M | 265.85M | 221.66M | 212.47M | 178.97M |
| EPS (Basic) | 1.93 | -1.69 | 0.11 | -1.22 | -2.85 | -3.20 |
| EPS (Diluted) | 1.91 | -1.69 | 0.10 | -1.22 | -2.85 | -3.20 |
| Free Cash Flow | 4.38B | 1.06B | 950.30M | -297.74M | 351.34M | -207.63M |
| Free Cash Flow Per Share | 14.95 | 4.03 | 3.58 | -1.34 | 1.65 | -1.16 |
| Operating Margin | 4.11% | -3.39% | 0.62% | -4.02% | -14.88% | -28.75% |
| Profit Margin | 3.60% | -3.79% | 0.28% | -4.62% | -15.30% | -30.23% |
| Free Cash Flow Margin | 28.59% | 9.05% | 10.36% | -5.08% | 8.86% | -10.96% |
| EBITDA | 657.96M | -367.46M | 89.41M | -204.92M | -574.58M | -529.88M |
| EBITDA Margin | 4.29% | -3.14% | 0.97% | -3.50% | -14.50% | -27.98% |
| D&A For EBITDA | 28.24M | 28.89M | 32.15M | 30.69M | 15.28M | 14.61M |
| EBIT | 629.72M | -396.36M | 57.27M | -235.62M | -589.87M | -544.48M |
| EBIT Margin | 4.11% | -3.39% | 0.62% | -4.02% | -14.88% | -28.75% |
| Effective Tax Rate | 6.59% | 21.85% | ||||
| Revenue as Reported | 15.32B | 11.70B | 9.18B | 5.86B | 3.96B |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Total Investments | 6.08B | 2.69B | 2.44B | 1.06B | 1.62B | 1.43B |
| Cash & Equivalents | 4.08B | 2.77B | 1.53B | 1.87B | 1.56B | 1.10B |
| Reinsurance Recoverable | 196.54M | 99.75M | 291.54M | 241.19M | 892.89M | 431.99M |
| Other Receivables | 560.81M | 498.71M | 380.67M | 253.19M | 266.34M | 182.85M |
| Property, Plant & Equipment | 101.49M | 139.89M | 123.95M | 124.80M | 127.89M | 119.57M |
| Other Current Assets | 60.32M | 24.33M | 21.32M | 6.56M | 6.45M | |
| Other Long-Term Assets | 151.31M | 101.13M | 56.12M | 50.27M | 54.24M | 51.68M |
| Total Assets | 11.23B | 6.33B | 4.84B | 3.60B | 4.53B | 3.32B |
| Accounts Payable | 525.71M | 633.00M | 418.88M | 259.19M | 285.02M | 219.96M |
| Insurance & Annuity Liabilities | 2.59B | 1.56B | 1.06B | 1.52B | 823.64M | |
| Unpaid Claims | 1.90B | 1.46B | 1.36B | 965.99M | 937.73M | 513.58M |
| Unearned Premiums | 167.50M | 166.20M | 74.39M | 65.92M | 79.00M | 75.04M |
| Reinsurance Payable | 2.56M | 3.58M | 41.35M | 61.02M | 427.65M | 205.23M |
| Current Portion of Leases | 16.72M | 13.55M | 14.18M | 12.82M | 14.83M | |
| Long-Term Debt | 431.63M | 430.10M | 299.56M | 298.78M | 298.00M | |
| Long-Term Leases | 50.47M | 51.99M | 60.65M | 66.80M | 72.17M | 76.84M |
| Other Long-Term Liabilities | 3.00K | 631.00K | 771.00K | 105.00K | ||
| Total Liabilities | 9.17B | 5.34B | 3.82B | 2.80B | 3.63B | 1.93B |
| Common Stock | 3.00K | 3.00K | 2.00K | 2.00K | 2.00K | 2.00K |
| Additional Paid-In Capital | 4.32B | 4.26B | 3.87B | 3.68B | 3.51B | 3.39B |
| Retained Earnings | -2.25B | -3.29B | -2.85B | -2.88B | -2.61B | -2.00B |
| Treasury Stock | -2.92M | -2.92M | -2.92M | -2.92M | -2.92M | -2.92M |
| Comprehensive Income & Other | -8.25M | 18.03M | -1.83M | 1.31M | -9.71M | -3.67M |
| Total Common Equity | 2.05B | 977.65M | 1.01B | 803.97M | 890.38M | 1.39B |
| Minority Interest | 3.13M | 3.09M | 2.84M | 2.15M | 2.02M | 5.29M |
| Shareholders' Equity | 2.06B | 980.74M | 1.02B | 806.12M | 892.40M | 1.39B |
| Total Liabilities & Equity | 11.23B | 6.33B | 4.84B | 3.60B | 4.53B | 3.32B |
| Filing Date Shares Outstanding | 308.33M | 297.43M | 250.25M | 229.41M | 215.99M | 210.08M |
| Total Common Shares Outstanding | 308.27M | 297.37M | 250.17M | 229.07M | 215.98M | 210.01M |
| Total Debt | 482.10M | 498.80M | 373.75M | 379.75M | 383.00M | 91.67M |
| Net Cash (Debt) | 3.59B | 2.28B | 1.15B | 1.49B | 1.18B | 1.01B |
| Net Cash Per Share | 12.27 | 8.67 | 4.34 | 6.72 | 5.53 | 5.66 |
| Book Value Per Share | 6.66 | 3.29 | 4.05 | 3.51 | 4.12 | 6.61 |
| Tangible Book Value | 2.05B | 977.65M | 1.01B | 803.97M | 890.38M | 1.39B |
| Tangible Book Value Per Share | 6.66 | 3.29 | 4.05 | 3.51 | 4.12 | 6.61 |
| Leasehold Improvements | 25.53M | 26.39M | 25.30M | 25.30M | 25.75M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 550.74M | -443.15M | 25.43M | -270.73M | -606.27M | -572.61M |
| Depreciation & Amortization | 28.24M | 28.89M | 32.15M | 30.69M | 15.28M | 14.61M |
| Other Amortization | 3.40M | 1.63M | 778.00K | 778.00K | 713.00K | 329.00K |
| Gain (Loss) on Sale of Investments | -29.41M | -29.79M | -26.88M | -29.37M | 2.48M | 8.03M |
| Stock-Based Compensation | 75.19M | 87.65M | 109.82M | 159.68M | 112.33M | 86.30M |
| Change in Accounts Receivable | -115.71M | -101.93M | -114.32M | -13.40M | -81.05M | -66.95M |
| Reinsurance Recoverable | -3.85M | 191.79M | -50.34M | 651.69M | -460.90M | 147.40M |
| Change in Accounts Payable | 122.87M | 205.49M | 152.77M | -29.18M | 57.81M | 98.62M |
| Change in Unearned Revenue | 98.02M | 91.81M | 8.47M | -13.08M | 3.95M | 3.14M |
| Change in Insurance Reserves / Liabilities | -5.78M | 1.56M | -25.03M | -55.33M | ||
| Change in Other Net Operating Assets | 3.65B | 1.11B | 867.74M | -423.05M | 1.14B | 258.89M |
| Other Operating Activities | 5.30M | 14.69M | -1.67M | 262.00K | -2.17M | 33.90M |
| Operating Cash Flow | 4.42B | 1.09B | 978.19M | -272.16M | 380.35M | -181.75M |
| Capital Expenditures | -38.62M | -36.37M | -27.90M | -25.58M | -29.01M | -25.89M |
| Investment in Securities | -3.29B | -208.96M | -1.36B | 605.04M | -198.62M | -755.30M |
| Other Investing Activities | 4.36M | 4.28M | 3.93M | -2.28M | 1.12M | 6.67M |
| Investing Cash Flow | -3.32B | -241.06M | -1.39B | 577.19M | -226.52M | -774.51M |
| Long-Term Debt Issued | 410.00M | 305.00M | ||||
| Total Debt Repaid | -38.88M | -38.88M | -153.17M | |||
| Net Debt Issued (Repaid) | 371.12M | 371.12M | 305.00M | -153.17M | ||
| Issuance of Common Stock | 55.64M | 55.03M | 68.39M | 6.45M | 3.15M | 1.41B |
| Repurchases of Common Stock | -13.67M | -4.04M | ||||
| Other Financing Activities | -31.19M | -22.90M | -7.04M | -15.21M | ||
| Financing Cash Flow | 381.90M | 399.21M | 68.39M | 6.45M | 301.11M | 1.24B |
| Net Cash Flow | 1.48B | 1.25B | -340.85M | 311.47M | 454.94M | 282.45M |
| Free Cash Flow | 4.38B | 1.06B | 950.30M | -297.74M | 351.34M | -207.63M |
| Free Cash Flow Margin | 28.59% | 9.05% | 10.36% | -5.08% | 8.86% | -10.96% |
| Free Cash Flow Per Share | 14.95 | 4.03 | 3.58 | -1.34 | 1.65 | -1.16 |
| Levered Free Cash Flow | 692.53M | 698.00M | 1.04B | 538.86M | -230.88M | -253.85M |
| Unlevered Free Cash Flow | 699.03M | 707.37M | 1.06B | 553.45M | -217.46M | -251.23M |
| Cash Interest Paid | 7.42M | 12.78M | 33.69M | 23.16M | 10.08M | 4.26M |
| Cash Income Tax Paid | 3.15M | 17.52M | 674.00K | 2.41M | 1.89M | 697.00K |
| Change in Working Capital | 3.74B | 1.46B | 838.86M | -192.09M | 855.00M | 247.70M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 9.46B | 3.80B | 3.32B | 2.07B | 528.30M | 1.64B |
| Enterprise Value | 5.87B | 2.40B | 2.48B | 1.04B | -1.21B | 568.00M |
| PE Ratio | 16.08 | 130.51 | ||||
| PS Ratio | 0.60 | 0.33 | 0.36 | 0.35 | 0.13 | 0.87 |
| PB Ratio | 4.56 | 3.87 | 3.27 | 2.56 | 0.59 | 1.18 |
| P/FCF Ratio | 2.10 | 3.59 | 3.49 | 1.50 | ||
| P/OCF Ratio | 2.08 | 3.47 | 3.39 | 1.39 | ||
| EV/Sales Ratio | 0.37 | 0.20 | 0.27 | 0.18 | 0.30 | |
| EV/EBITDA Ratio | 8.50 | 27.72 | ||||
| EV/EBIT Ratio | 8.88 | 43.28 | ||||
| EV/FCF Ratio | 1.28 | 2.26 | 2.61 | |||
| Debt / Equity Ratio | 0.23 | 0.51 | 0.37 | 0.47 | 0.43 | 0.07 |
| Debt / EBITDA Ratio | 0.72 | 3.60 | ||||
| Debt / FCF Ratio | 0.11 | 0.47 | 0.39 | 1.09 | ||
| Net Debt / Equity Ratio | -1.75 | -2.32 | -1.14 | -1.85 | -1.32 | -0.73 |
| Net Debt / EBITDA Ratio | -5.46 | 6.19 | -12.90 | 7.27 | 2.05 | 1.91 |
| Net Debt / FCF Ratio | -0.82 | -2.15 | -1.21 | 5.01 | -3.35 | 4.88 |
| Quick Ratio | 1.05 | 0.92 | 0.73 | 1.16 | 0.99 | 1.01 |
| Current Ratio | 1.08 | 0.95 | 0.82 | 1.26 | 1.26 | 1.25 |
| Asset Turnover | 1.74 | 2.10 | 2.17 | 1.44 | 1.01 | 0.68 |
| Return on Equity (ROE) | 34.26% | -44.35% | 2.87% | -31.86% | -53.35% | -62.06% |
| Return on Assets (ROA) | 4.47% | -4.44% | 0.85% | -3.62% | -9.40% | -12.17% |
| Return on Invested Capital (ROIC) | 25.10% | -27.62% | 3.47% | -19.15% | -42.75% | -52.46% |
| Earnings Yield | 6.22% | -11.67% | 0.77% | -13.10% | -114.76% | -34.82% |
| FCF Yield | 47.67% | 27.86% | 28.63% | -14.41% | 66.50% | -12.62% |
| Buyback Yield / Dilution | -17.37% | 1.30% | -19.94% | -4.32% | -18.72% | -511.57% |