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Hims & Hers Health Inc Financials

HIMS
Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows Hims & Hers Health Inc (HIMS) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 7 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Profitability Growth Leverage Liquidity Cash Flow Returns 50 / 100
Financial Profile 50/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability
32

Hims & Hers Health Inc has an operating margin of 4.5%, meaning the company retains $5 of operating profit per $100 of revenue. This results in a moderate score of 32/100, indicating healthy but not exceptional operating efficiency. This is up from 4.2% the prior year.

Growth
100

Hims & Hers Health Inc's revenue surged 59.0% year-over-year to $2.3B, reflecting rapid business expansion. This strong growth earns a score of 100/100.

Leverage
41

Hims & Hers Health Inc has a moderate D/E ratio of 2.98. This balance of debt and equity financing earns a leverage score of 41/100.

Liquidity
34

Hims & Hers Health Inc's current ratio of 1.90 indicates adequate short-term liquidity, earning a score of 34/100. The company can meet its near-term obligations, though with limited headroom.

Cash Flow
31

While Hims & Hers Health Inc generated $300.0M in operating cash flow, capex of $242.6M consumed most of it, leaving $57.4M in free cash flow. This results in a low score of 31/100, reflecting heavy capital investment rather than weak cash generation.

Returns
64

Hims & Hers Health Inc's ROE of 23.7% shows moderate profitability relative to equity, earning a score of 64/100. This is down from 26.4% the prior year.

Altman Z-Score Safe
3.14

Hims & Hers Health Inc scores 3.14, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($4.7B) relative to total liabilities ($1.6B). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.

Piotroski F-Score Neutral
4/9

Hims & Hers Health Inc passes 4 of 9 financial strength tests. 3 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Cash-Backed
2.34x

For every $1 of reported earnings, Hims & Hers Health Inc generates $2.34 in operating cash flow ($300.0M OCF vs $128.4M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

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Earnings & Revenue

Revenue
$2.3B
YoY+59.0%
5Y CAGR+73.6%

Hims & Hers Health Inc generated $2.3B in revenue in fiscal year 2025. This represents an increase of 59.0% from the prior year.

EBITDA
$160.1M
YoY+102.7%

Hims & Hers Health Inc's EBITDA was $160.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 102.7% from the prior year.

Net Income
$128.4M
YoY+1.8%

Hims & Hers Health Inc reported $128.4M in net income in fiscal year 2025. This represents an increase of 1.8% from the prior year.

EPS (Diluted)
$0.51
YoY-3.8%

Hims & Hers Health Inc earned $0.51 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 3.8% from the prior year.

Cash & Balance Sheet

Free Cash Flow
$57.4M
YoY-71.0%

Hims & Hers Health Inc generated $57.4M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 71.0% from the prior year.

Cash & Debt
$228.6M
YoY+3.6%
5Y CAGR+52.9%

Hims & Hers Health Inc held $228.6M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share
N/A
Shares Outstanding
N/A

Margins & Returns

Gross Margin
73.8%
YoY-5.6pp
5Y CAGR+0.3pp

Hims & Hers Health Inc's gross margin was 73.8% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 5.6 percentage points from the prior year.

Operating Margin
4.5%
YoY+0.3pp
5Y CAGR+14.7pp

Hims & Hers Health Inc's operating margin was 4.5% in fiscal year 2025, reflecting core business profitability. This is up 0.3 percentage points from the prior year.

Net Margin
5.5%
YoY-3.1pp
5Y CAGR+17.6pp

Hims & Hers Health Inc's net profit margin was 5.5% in fiscal year 2025, showing the share of revenue converted to profit. This is down 3.1 percentage points from the prior year.

Return on Equity
23.7%
YoY-2.7pp

Hims & Hers Health Inc's ROE was 23.7% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 2.7 percentage points from the prior year.

Capital Allocation

R&D Spending
N/A
Share Buybacks
$90.0M
YoY+8.3%

Hims & Hers Health Inc spent $90.0M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents an increase of 8.3% from the prior year.

Capital Expenditures
$242.6M
YoY+359.5%

Hims & Hers Health Inc invested $242.6M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 359.5% from the prior year.

HIMS Income Statement

Metric Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24
Revenue $617.8M+3.1% $599.0M+9.9% $544.8M-7.0% $586.0M+21.8% $481.1M+19.8% $401.6M+27.2% $315.6M+13.5% $278.2M
Cost of Revenue $173.4M+10.5% $156.9M+22.0% $128.6M-17.2% $155.3M+39.2% $111.6M+33.4% $83.7M+41.7% $59.0M+20.3% $49.1M
Gross Profit $444.4M+0.5% $442.1M+6.2% $416.2M-3.4% $430.7M+16.5% $369.5M+16.2% $317.9M+23.9% $256.6M+12.0% $229.1M
R&D Expenses N/A N/A N/A N/A N/A N/A N/A N/A
SG&A Expenses $76.2M-5.6% $80.7M+19.9% $67.3M+38.4% $48.6M+1.2% $48.0M+7.6% $44.6M+10.0% $40.6M+17.3% $34.6M
Operating Income $9.2M-22.2% $11.8M-55.8% $26.7M-53.8% $57.9M+211.3% $18.6M-16.9% $22.4M+102.8% $11.0M+11.4% $9.9M
Interest Expense N/A N/A N/A N/A N/A N/A N/A N/A
Income Tax -$2.2M+36.7% -$3.6M+63.2% -$9.7M-187.7% $11.0M+394.9% -$3.7M+92.8% -$52.0M-41040.9% $127K-90.0% $1.3M
Net Income $20.6M+30.6% $15.8M-62.9% $42.5M-14.1% $49.5M+90.1% $26.0M-65.6% $75.6M+468.5% $13.3M+19.5% $11.1M
EPS (Diluted) N/A $0.06-64.7% $0.17-15.0% $0.20 N/A $0.32+433.3% $0.06+20.0% $0.05

HIMS Balance Sheet

Metric Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24
Total Assets $2.2B-3.5% $2.2B+18.9% $1.9B+110.6% $891.7M+26.0% $707.5M+17.5% $602.3M+25.3% $480.5M+7.2% $448.1M
Current Assets $767.6M-9.2% $845.3M-37.6% $1.4B+203.3% $447.0M+12.9% $395.8M+21.3% $326.4M+12.2% $290.9M+11.2% $261.7M
Cash & Equivalents $228.6M-33.9% $345.8M-69.3% $1.1B+310.8% $273.7M+24.1% $220.6M+33.3% $165.5M+28.0% $129.3M+22.9% $105.2M
Inventory $80.1M-24.4% $106.0M-25.3% $141.8M+86.3% $76.1M+18.1% $64.4M+31.2% $49.1M+21.0% $40.6M+36.1% $29.8M
Accounts Receivable $32.1M N/A N/A N/A $6.1M N/A N/A N/A
Goodwill $278.3M+7.4% $259.2M+120.2% $117.8M0.0% $117.8M+4.5% $112.7M0.0% $112.7M+1.7% $110.9M0.0% $110.9M
Total Liabilities $1.6B-2.3% $1.7B+25.7% $1.3B+284.0% $342.4M+48.4% $230.8M+42.3% $162.2M+36.8% $118.5M+14.4% $103.6M
Current Liabilities $404.4M-10.3% $450.8M+65.6% $272.2M-2.9% $280.4M+26.7% $221.4M+45.0% $152.6M+40.5% $108.7M+16.4% $93.3M
Long-Term Debt N/A N/A N/A N/A N/A N/A N/A N/A
Total Equity $540.9M-6.9% $581.0M+3.2% $562.7M+2.4% $549.3M+15.2% $476.7M+8.3% $440.1M+21.6% $362.0M+5.1% $344.5M
Retained Earnings -$113.8M+15.3% -$134.4M+10.5% -$150.1M+22.1% -$192.7M+20.4% -$242.1M+9.7% -$268.2M+22.0% -$343.8M+3.7% -$357.0M

HIMS Cash Flow Statement

Metric Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24
Operating Cash Flow $61.3M-58.8% $148.7M+878.0% -$19.1M-117.5% $109.1M+26.3% $86.4M+1.3% $85.3M+59.1% $53.6M+107.4% $25.8M
Capital Expenditures $63.9M-7.9% $69.4M+37.7% $50.4M-14.6% $59.0M+119.3% $26.9M+355.9% $5.9M-1.7% $6.0M-57.1% $14.0M
Free Cash Flow -$2.6M-103.3% $79.3M+214.1% -$69.5M-238.8% $50.1M-15.8% $59.5M-25.1% $79.4M+66.8% $47.6M+302.0% $11.8M
Investing Cash Flow -$83.7M+90.6% -$887.4M-4108.1% -$21.1M+35.7% -$32.8M-90.6% -$17.2M-65.2% -$10.4M-133.0% -$4.5M-134.3% $13.0M
Financing Cash Flow -$97.5M-150.0% -$39.0M-104.4% $889.2M+3962.9% -$23.0M-68.6% -$13.7M+64.8% -$38.8M-54.9% -$25.1M+17.3% -$30.3M
Dividends Paid N/A N/A N/A N/A N/A N/A N/A N/A
Share Buybacks $80.5M+749.0% $9.5M $0 $0-100.0% $5.0M-83.3% $30.0M+50.7% $19.9M-29.0% $28.1M

HIMS Financial Ratios

Metric Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24
Gross Margin 71.9%-1.9pp 73.8%-2.6pp 76.4%+2.9pp 73.5%-3.3pp 76.8%-2.3pp 79.2%-2.1pp 81.3%-1.1pp 82.4%
Operating Margin 1.5%-0.5pp 2.0%-2.9pp 4.9%-5.0pp 9.9%+6.0pp 3.9%-1.7pp 5.6%+2.1pp 3.5%-0.1pp 3.6%
Net Margin 3.3%+0.7pp 2.6%-5.2pp 7.8%-0.6pp 8.4%+3.0pp 5.4%-13.4pp 18.8%+14.6pp 4.2%+0.2pp 4.0%
Return on Equity 3.8%+1.1pp 2.7%-4.8pp 7.5%-1.5pp 9.0%+3.5pp 5.5%-11.7pp 17.2%+13.5pp 3.7%+0.4pp 3.2%
Return on Assets 1.0%+0.2pp 0.7%-1.5pp 2.3%-3.3pp 5.5%+1.9pp 3.7%-8.9pp 12.6%+9.8pp 2.8%+0.3pp 2.5%
Current Ratio 1.90+0.0 1.88-3.1 4.98+3.4 1.59-0.2 1.79-0.4 2.14-0.5 2.68-0.1 2.80
Debt-to-Equity 2.98+0.1 2.84+0.5 2.34+1.7 0.62+0.1 0.48+0.1 0.37+0.0 0.33+0.0 0.30
FCF Margin -0.4%-13.7pp 13.2%+26.0pp -12.8%-21.3pp 8.6%-3.8pp 12.4%-7.4pp 19.8%+4.7pp 15.1%+10.8pp 4.3%

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Frequently Asked Questions

Hims & Hers Health Inc (HIMS) reported $2.3B in total revenue for fiscal year 2025. This represents a 59.0% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

Hims & Hers Health Inc (HIMS) revenue grew by 59% year-over-year, from $1.5B to $2.3B in fiscal year 2025.

Yes, Hims & Hers Health Inc (HIMS) reported a net income of $128.4M in fiscal year 2025, with a net profit margin of 5.5%.

Hims & Hers Health Inc (HIMS) reported diluted earnings per share of $0.51 for fiscal year 2025. This represents a -3.8% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Hims & Hers Health Inc (HIMS) had EBITDA of $160.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

Hims & Hers Health Inc (HIMS) had a gross margin of 73.8% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

Hims & Hers Health Inc (HIMS) had an operating margin of 4.5% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

Hims & Hers Health Inc (HIMS) had a net profit margin of 5.5% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Hims & Hers Health Inc (HIMS) has a return on equity of 23.7% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

Hims & Hers Health Inc (HIMS) generated $57.4M in free cash flow during fiscal year 2025. This represents a -71.0% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

Hims & Hers Health Inc (HIMS) generated $300.0M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

Hims & Hers Health Inc (HIMS) had $2.2B in total assets as of fiscal year 2025, including both current and long-term assets.

Hims & Hers Health Inc (HIMS) invested $242.6M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Yes, Hims & Hers Health Inc (HIMS) spent $90.0M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

Hims & Hers Health Inc (HIMS) had a current ratio of 1.90 as of fiscal year 2025, which is generally considered healthy.

Hims & Hers Health Inc (HIMS) had a debt-to-equity ratio of 2.98 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

Hims & Hers Health Inc (HIMS) had a return on assets of 6.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

Hims & Hers Health Inc (HIMS) has an Altman Z-Score of 3.14, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

Hims & Hers Health Inc (HIMS) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Hims & Hers Health Inc (HIMS) has an earnings quality ratio of 2.34x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Hims & Hers Health Inc (HIMS) scores 50 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.

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