# Oscar Health, Inc. (OSCR)

> Source: Nexqual · https://nexqual.com/OSCR · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Oscar Health, Inc. (OSCR), nexqual.com/OSCR" · informational, not investment advice.

**Price:** USD 33.32 (-0.39% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 33.45 · day 32.76–34.1 · 52w 10.69–35.01 · market cap $10.3B · NYQ

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $15.3B, net income $551M (3.6% margin), free cash flow $4.38B (SEC filings).
- Valuation: P/E 18.7x (avg 140.5x at the last 1 fiscal year-ends), EV/EBITDA 3.3x, net cash $8.12B.
- 1 of 80 tracked superinvestors hold OSCR (13F, Q2 2026): 1 new, 0 added, 0 reduced, 0 unchanged.
- Total return with dividends: 1Y +69.8% vs S&P 500 +14.9%; 5Y +96.0% vs S&P 500 +80.3%.
- Next earnings: 2026-11-05, EPS estimate USD -0.17, revenue estimate $4.72B.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $1.84B | $3.96B | $5.86B | $9.18B | $11.7B | $15.3B |
| Operating income | -$544M | -$590M | -$236M | $57.3M | -$396M | $630M |
| Net income | -$573M | -$606M | -$271M | $25.4M | -$443M | $551M |
| EPS (diluted) | -$3.20 | -$2.85 | -$1.22 | $0.10 | -$1.69 | — |
| Free cash flow | -$208M | $351M | -$298M | $950M | $1.06B | $4.38B |
| Operating margin | -29.6% | -14.9% | -4.0% | 0.6% | -3.4% | 4.1% |
| Net margin | -31.1% | -15.3% | -4.6% | 0.3% | -3.8% | 3.6% |
| Revenue growth | +297.3% | +115.6% | +47.9% | +56.5% | +27.5% | — |
| Cash + short-term investments | $1.69B | $2.96B | $2.56B | $2.15B | $3.99B | — |
| Total debt | $0K | $298M | $299M | $300M | $430M | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 18.7x · P/S 0.7x · EV/EBITDA 3.3x · EV/Sales 0.1x · P/FCF 2.3x · P/B 5.0x · FCF yield 42.59% · Earnings yield 5.36% · Net cash $8.12B · EV $2.16B
P/E at fiscal year-ends: Dec 2024 140.5x.

## Superinvestors (SEC 13F-HR, Q2 2026)
1 of 80 tracked investors hold OSCR. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Polen Capital | Polen Capital Management | 0.01% | $1.1M | New position |

## Analysts
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-12 | UBS | Target raised | Neutral | $26 → $36 |
| 2026-09-18 | Raymond James | Target raised | Outperform | $34 → $42 |
| 2026-09-17 | B of A Securities | Target raised | Underperform | $28 → $30 |
| 2026-09-17 | Stephens & Co. | Reiterated | Equal-Weight | $34 |
| 2026-09-17 | Barclays | Target raised | Overweight | $39 → $49 |
| 2026-09-17 | Baird | Target raised | Neutral | $27 → $33 |
| 2026-08-13 | Wells Fargo | Target raised | Equal-Weight | $20 → $27 |
| 2026-08-07 | UBS | Target raised | Neutral | $20 → $26 |
| 2026-08-07 | Barclays | Target raised | Overweight | $35 → $39 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | +69.8% | +96.0% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +70.1% | +14.4% |
| Volatility (annualized) | 66.1% | 81.2% |
| Max drawdown | -44.8% (Oct 2025→Mar 2026) | -87.2% (Oct 2021→Dec 2022) |

## Peers (Healthcare Plans)
MOH (Molina Healthcare Inc) USD 216.64 +0.81% · CNC (Centene Corporation) USD 71.24 +1.42% · CLOV (Clover Health Investments, Corp) USD 4.73 -1.05% · PGNY (Progyny, Inc.) USD 29.12 +2.39% · HUM (Humana Inc.) USD 420.97 -1.05% · ALHC (Alignment Healthcare, Inc.) USD 8.43 -0.12%

## More
Full page: https://nexqual.com/OSCR · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in OSCR's own 10-K filed 2026-02-13 (https://www.sec.gov/Archives/edgar/data/1568651/000156865126000011/oscr-20251231.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Partner | Amazon (AMZN) | "We partner with third parties, including Amazon and Google, to support our information technology systems." |
| Partner | Alphabet (Google) (GOOGL) | "We partner with third parties, including Amazon and Google, to support our information technology systems." |

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $-0.17 | $-0.20 | -15.0% | $4.72B | 7 |
| Next quarter (ends 2026-12-31) | $-1.08 | $-1.23 | -11.9% | $4.48B | 7 |
| Current fiscal year (ends 2026-12-31) | $1.94 | $1.06 | +82.8% | $18.73B | 8 |
| Next fiscal year (ends 2027-12-31) | $2.22 | $1.49 | +49.1% | $20.78B | 8 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-11-06 (includes earnings 2026-11-05): ±14.5%; earnings reaction alone ±11.0%; last 8 reports averaged ±12.2%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-10-30 | 7 | 57.7% | ±6.9% |
| 2026-11-06 | 14 | 89.1% | ±14.5% |
| 2026-11-13 | 21 | 77.2% | ±15.2% |
| 2026-11-20 | 28 | 76.0% | ±17.1% |
| 2026-11-27 | 35 | 74.8% | ±18.7% |
| 2026-12-04 | 42 | 78.8% | ±21.6% |
| 2026-12-18 | 56 | 64.7% | ±20.4% |
| 2027-01-15 | 84 | 62.8% | ±24.1% |