Oscar Health, Inc. (OSCR) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 6, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 7, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the OSCR SEC filings page.
Oscar Health, Inc. (OSCR) reported $15.3B in revenue over the twelve months to Jun 30, 2026, up 42.8% from the prior twelve months. This page shows its 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).
Oscar's rapid revenue expansion can generate cash, but profitability remains unstable and short-term obligations exceed current assets.
In FY2025, Oscar produced operating cash flow of$1.1B despite a net loss of$443M , so cash generation was not being supplied by reported earnings. Free cash flow also reached$1.1B while the current ratio was 0.9x, linking the earnings-cash gap to a balance sheet that still has near-term funding pressure.
Revenue reached
Debt-to-equity was 0.4x, making funded debt a smaller financing layer than total liabilities. Yet total liabilities were
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Oscar Health, Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Oscar Health, Inc. has an operating margin of -3.4%, meaning the company loses $3 on every $100 of revenue. This results in a profitability score of 30/100. This is down from 0.6% the prior year.
Oscar Health, Inc.'s revenue surged 27.5% year-over-year to $11.7B, reflecting rapid business expansion. This strong growth earns a score of 93/100.
Oscar Health, Inc. has a moderate D/E ratio of 0.44. This balance of debt and equity financing earns a leverage score of 63/100.
Oscar Health, Inc.'s current ratio of 0.95 is below the typical benchmark, resulting in a score of 16/100. However, the company holds substantial cash reserves (57% of current liabilities), which buffers actual liquidity risk. Large mature operators often run tight current ratios by design.
Oscar Health, Inc. has a free cash flow margin of 9.0%, earning a moderate score of 53/100. The company generates positive cash flow after capital investments, but with room for improvement.
Oscar Health, Inc. posts a -45.3% return on equity (ROE), meaning it loses $45 for every $100 of shareholders' equity. This results in a returns score of 23/100. This is down from 2.5% the prior year.
Oscar Health, Inc. scores 1.99, placing it in the grey zone between 1.81 and 2.99. The score is driven primarily by a large market capitalization ($10.0B) relative to total liabilities ($5.3B). This signals moderate financial risk that warrants monitoring.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Oscar Health, Inc. passes 3 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 2 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, neither operating efficiency signal passes.
Oscar Health, Inc. reported a net loss of $443.2M while generating $1.1B in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal.
Oscar Health, Inc. reported an operating loss of $396.4M against $17.6M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
Oscar Health, Inc. generated $4.9B in revenue in Q2 2026. This represents an increase of 70.4% from the same quarter a year earlier. Against the prior quarter it is up 5.0%.
Oscar Health, Inc.'s EBITDA was $394.7M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 276.6% from the same quarter a year earlier. Against the prior quarter it is down 44.5%.
Oscar Health, Inc. reported $361.8M in net income in Q2 2026. This represents an increase of 258.4% from the same quarter a year earlier. Against the prior quarter it is down 46.7%.
Oscar Health, Inc. earned $1.10 per diluted share (EPS) in Q2 2026. This represents an increase of 223.6% from the same quarter a year earlier. Against the prior quarter it is down 46.9%.
Cash & Balance Sheet
Oscar Health, Inc. generated $2.1B in free cash flow in Q2 2026, representing cash available after capex. This represents an increase of 316.3% from the same quarter a year earlier. Against the prior quarter it is down 20.3%.
Oscar Health, Inc. held $4.1B in cash against $431.6M in long-term debt as of Q2 2026, with $8.7B of liabilities due within a year.
Not reported for Q2 2026.
Margins & Returns
Oscar Health, Inc.'s operating margin was 8.0% in Q2 2026, reflecting core business profitability. This is up 16.0 percentage points from the same quarter a year earlier. Against the prior quarter it is down 7.2 percentage points.
Oscar Health, Inc.'s net profit margin was 7.4% in Q2 2026, showing the share of revenue converted to profit. This is up 15.4 percentage points from the same quarter a year earlier. Against the prior quarter it is down 7.2 percentage points.
Oscar Health, Inc.'s ROE was 17.6% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is up 37.3 percentage points from the same quarter a year earlier. Against the prior quarter it is down 23.2 percentage points.
Not reported for Q2 2026.
Capital Allocation
Oscar Health, Inc. invested $11.8M in capex in Q2 2026, funding long-term assets and infrastructure. This represents an increase of 26.8% from the same quarter a year earlier. Against the prior quarter it is up 33.8%.
Not reported for Q2 2026.
Not reported for Q2 2026.
OSCR Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $4.9B+70.4% | $4.6B+52.6% | $2.8B+17.3% | $3.0B+23.2% | $2.9B+29.0% | $3.0B+42.2% | $2.4B+67.1% | $2.4B+68.3% |
| SG&A Expenses | $691.1M+29.3% | $706.2M+46.3% | $511.0M+9.7% | $521.6M+13.3% | $534.5M+22.8% | $482.8M+22.5% | $465.8M+27.9% | $460.4M+41.3% |
| Operating Income | $388.6M+268.6% | $704.1M+137.0% | -$333.7M-125.9% | -$129.3M-167.2% | -$230.5M-439.9% | $297.1M+60.1% | -$147.7M-1.5% | -$48.4M+16.9% |
| EBITDA | $394.7M+276.6% | $711.1M+134.0% | -$325.9M-135.3% | -$121.9M-198.3% | -$223.5M-396.4% | $303.9M+57.1% | -$138.5M-0.6% | -$40.9M+16.7% |
| Interest Expense | $4.7M-19.5% | $5.4M-10.2% | -$1.1M-118.2% | $6.9M+17.9% | $5.8M-2.4% | $6.0M+1.6% | $6.0M-3.1% | $5.8M-5.1% |
| Income Tax | $21.2M+519.9% | $19.8M+55.5% | -$247K+38.9% | -$1.8M-187.0% | -$5.0M-208.8% | $12.7M+1175.6% | -$404K+49.9% | $2.1M+126.9% |
| Net Income | $361.8M+258.4% | $679.0M+146.7% | -$352.6M-129.6% | -$137.4M-151.8% | -$228.4M-506.3% | $275.3M+55.2% | -$153.5M-2.3% | -$54.6M+16.5% |
| EPS (Basic) | $1.20+234.8% | $2.28+107.3% | -$1.34-109.4% | -$0.53-140.9% | -$0.89-470.8% | $1.10+42.9% | -$0.64+4.5% | -$0.22+24.1% |
| EPS (Diluted) | $1.10+223.6% | $2.07+125.0% | -$1.34-143.6% | -$0.53-140.9% | -$0.89-545.0% | $0.92+48.4% | -$0.55+17.9% | -$0.22+24.1% |
| Diluted Shares (Avg) | 333M+30.5% | 330M+7.8% | N/A | 259M+6.7% | 256M-15.9% | 306M+4.1% | N/A | 243M+9.0% |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses.
OSCR Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $11.2B+75.9% | $9.3B+59.0% | $6.3B+30.7% | $5.7B+28.2% | $6.4B+27.5% | $5.8B+32.2% | $4.8B+34.4% | $4.5B+33.8% |
| Current Assets | $9.4B+117.3% | $7.8B+106.0% | $4.6B+62.1% | $3.8B+58.9% | $4.3B+28.4% | $3.8B+7.7% | $2.8B-7.1% | $2.4B-20.8% |
| Cash & Equivalents | $4.1B+56.8% | $4.8B+114.8% | $2.8B+81.7% | $2.1B+78.2% | $2.6B+14.6% | $2.2B+0.3% | $1.5B-18.3% | $1.2B-13.8% |
| Short-Term Investments | $4.5B+377.5% | $2.0B+165.4% | $1.2B+94.8% | $887.6M+76.2% | $938.1M+158.0% | $751.5M+22.0% | $624.5M-9.5% | $503.8M-51.8% |
| Accounts Receivable | $380.1M | $587.0M | $362.7M | N/A | N/A | N/A | N/A | N/A |
| Long-Term Investments | $1.6B-13.3% | $1.3B-32.4% | $1.5B-19.0% | $1.8B-9.4% | $1.8B+25.9% | $1.9B+154.2% | $1.8B+396.9% | $1.9B+976.6% |
| Total Liabilities | $9.2B+75.6% | $7.6B+69.1% | $5.3B+39.8% | $4.7B+42.2% | $5.2B+35.1% | $4.5B+33.2% | $3.8B+36.8% | $3.3B+36.6% |
| Current Liabilities | $8.7B+78.6% | $7.1B+72.1% | $4.9B+40.4% | $4.0B+34.6% | $4.9B+38.9% | $4.1B+37.4% | $3.5B+42.6% | $3.0B+43.4% |
| Non-Current Liabilities | $482.1M+35.0% | $482.2M+34.3% | $482.1M+33.6% | $742.1M+104.5% | $357.2M-1.8% | $359.1M-1.7% | $360.8M-1.5% | $362.9M-1.2% |
| Long-Term Debt | $431.6M+43.9% | $430.9M+43.7% | $430.1M+43.6% | $686.3M+129.3% | $299.9M+0.3% | $299.7M+0.3% | $299.6M+0.3% | $299.4M+0.3% |
| Total Equity | $2.1B+77.1% | $1.7B+24.8% | $977.6M-3.5% | $1.0B-11.9% | $1.2B+1.8% | $1.3B+29.2% | $1.0B+26.1% | $1.2B+26.5% |
| Retained Earnings | -$2.3B+19.6% | -$2.6B-1.5% | -$3.3B-15.5% | -$2.9B-9.0% | -$2.8B-6.1% | -$2.6B+4.6% | -$2.9B+0.9% | -$2.7B+1.1% |
Not reported in any period shown, so not listed: Inventory, Goodwill.
OSCR Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $2.1B+311.0% | $2.6B+198.1% | $671.9M+93.7% | -$964.7M-92.9% | $509.1M+2.4% | $878.5M+38.5% | $346.8M+16.8% | -$500.1M+56.5% |
| Depreciation & Amortization | $6.0M-13.5% | $7.0M+4.3% | $7.9M-14.7% | $7.3M-2.5% | $7.0M-8.3% | $6.7M-13.8% | $9.2M+19.3% | $7.5M-18.4% |
| Stock-Based Compensation | N/A | $16.0M-36.1% | N/A | N/A | N/A | $25.0M-3.7% | N/A | N/A |
| Capital Expenditures | $11.8M+26.8% | $8.8M-2.6% | $9.1M+32.9% | $9.0M+19.0% | $9.3M+22.7% | $9.0M+51.7% | $6.8M+11.8% | $7.6M+16.8% |
| Free Cash Flow | $2.1B+316.3% | $2.6B+200.2% | $662.8M+95.0% | -$973.7M-91.8% | $499.8M+2.1% | $869.5M+38.4% | $340.0M+16.9% | -$507.7M+56.1% |
| Investing Cash Flow | -$2.8B-1585.2% | -$590.3M-238.8% | -$48.7M-54.9% | $150.1M+126.0% | -$168.2M+64.8% | -$174.2M+42.0% | -$31.4M-118.2% | -$577.8M-356.4% |
| Financing Cash Flow | $13.3M-39.9% | -$3.6M-173.9% | $8.2M+114.1% | $364.0M+1861.4% | $22.1M+18.3% | $4.9M-82.2% | $3.8M+257.1% | $18.6M+700.0% |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
OSCR Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Margin | 8.0%+16.0pp | 15.2%+5.4pp | -11.9%-5.7pp | -4.3%-2.3pp | -8.1%-11.1pp | 9.8%+1.1pp | -6.2%+4.0pp | -2.0%+2.0pp |
| Net Margin | 7.4%+15.4pp | 14.6%+5.6pp | -12.6%-6.2pp | -4.6%-2.4pp | -8.0%-10.5pp | 9.0%+0.8pp | -6.4%+4.1pp | -2.3%+2.3pp |
| Return on Equity | 17.6%+37.3pp | 40.8%+20.2pp | -36.1%-20.9pp | -13.4%-8.7pp | -19.7%-24.6pp | 20.6%+3.5pp | -15.1%+3.5pp | -4.7%+2.4pp |
| Return on Assets | 3.2%+6.8pp | 7.3%+2.6pp | -5.6%-2.4pp | -2.4%-1.2pp | -3.6%-4.7pp | 4.7%+0.7pp | -3.2%+1.0pp | -1.2%+0.7pp |
| Current Ratio | 1.08+0.2x | 1.09+0.2x | 0.95+0.1x | 0.95+0.1x | 0.89-0.1x | 0.91-0.3x | 0.82-0.4x | 0.80-0.7x |
| Debt-to-Equity | 0.210.0x | 0.260.0x | 0.44+0.1x | 0.67+0.4x | 0.260.0x | 0.22-0.1x | 0.30-0.1x | 0.26-0.1x |
| Asset Turnover | 0.430.0x | 0.500.0x | 0.44-0.1x | 0.520.0x | 0.450.0x | 0.520.0x | 0.49+0.1x | 0.54+0.1x |
| FCF Margin | 42.6%+25.2pp | 56.2%+27.6pp | 23.6%+9.4pp | -32.6%-11.7pp | 17.4%-4.6pp | 28.5%-0.8pp | 14.2%-6.1pp | -20.9%+59.3pp |
Not reported in any period shown, so not listed: Gross Margin.
Note: The current ratio is below 1.0 (0.95), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Oscar Health, Inc. OSCR | FY2025 | $11.7B | -$443.2M | -3.8% | $10.0B | 46/100 |
| Alignment Healthcare, Inc. ALHC | FY2025 | $3.9B | -$724K | 0.0% | $1.6B | 55/100 |
| Progyny, Inc. PGNY | FY2025 | $1.3B | $58.5M | 4.5% | $1.9B | 69/100 |
| Molina Healthcare, Inc. MOH | FY2025 | $45.4B | $472.0M | 1.0% | $9.9B | 63/100 |
| Clover Health Investments, Corp CLOV | FY2025 | $1.9B | -$85.5M | -4.5% | $2.3B | 41/100 |
| Centene Corporation CNC | FY2025 | $194.8B | -$6.7B | -3.4% | $31.1B | 36/100 |
Where Oscar Health, Inc. Ranks
Frequently Asked Questions
What is Oscar Health, Inc.'s annual revenue?
Oscar Health, Inc. (OSCR) reported $11.7B in total revenue for fiscal year 2025. This represents a 27.5% 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.
How fast is Oscar Health, Inc.'s revenue growing?
Oscar Health, Inc. (OSCR) revenue grew by 27.5% year-over-year, from $9.2B to $11.7B in fiscal year 2025.
Is Oscar Health, Inc. profitable?
No, Oscar Health, Inc. (OSCR) reported a net income of -$443.2M in fiscal year 2025, with a net profit margin of -3.8%.
What is Oscar Health, Inc.'s EBITDA?
Oscar Health, Inc. (OSCR) had EBITDA of -$367.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Oscar Health, Inc. have?
As of fiscal year 2025, Oscar Health, Inc. (OSCR) had $2.8B in cash and equivalents against $430.1M in long-term debt.
What is Oscar Health, Inc.'s operating margin?
Oscar Health, Inc. (OSCR) had an operating margin of -3.4% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Oscar Health, Inc.'s net profit margin?
Oscar Health, Inc. (OSCR) had a net profit margin of -3.8% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Oscar Health, Inc.'s return on equity (ROE)?
Oscar Health, Inc. (OSCR) has a return on equity of -45.3% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Oscar Health, Inc.'s free cash flow?
Oscar Health, Inc. (OSCR) generated $1.1B in free cash flow during fiscal year 2025. This represents a 11.4% 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.
What is Oscar Health, Inc.'s operating cash flow?
Oscar Health, Inc. (OSCR) generated $1.1B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Oscar Health, Inc.'s total assets?
Oscar Health, Inc. (OSCR) had $6.3B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Oscar Health, Inc.'s capital expenditures?
Oscar Health, Inc. (OSCR) invested $36.4M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Oscar Health, Inc.'s current ratio?
Oscar Health, Inc. (OSCR) had a current ratio of 0.95 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is Oscar Health, Inc.'s debt-to-equity ratio?
Oscar Health, Inc. (OSCR) had a debt-to-equity ratio of 0.44 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Oscar Health, Inc.'s return on assets (ROA)?
Oscar Health, Inc. (OSCR) had a return on assets of -7.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Oscar Health, Inc.'s P/E ratio?
Oscar Health, Inc. (OSCR) trades at 18.2x earnings, its market capitalization divided by net income of $550.7M net income, trailing 12 months to June 30, 2026. The market capitalization is $10.0B as of Oct 6, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Oscar Health, Inc.'s price-to-sales ratio?
Oscar Health, Inc. (OSCR) trades at 0.7x sales, its market capitalization divided by revenue of $15.3B revenue, trailing 12 months to June 30, 2026. The market capitalization is $10.0B as of Oct 6, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Oscar Health, Inc.'s Altman Z-Score?
Oscar Health, Inc. (OSCR) has an Altman Z-Score of 1.99, placing it in the Grey Zone (moderate 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.
What is Oscar Health, Inc.'s Piotroski F-Score?
Oscar Health, Inc. (OSCR) has a Piotroski F-Score of 3 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Oscar Health, Inc.'s earnings high quality?
Oscar Health, Inc. (OSCR) reported a net loss of $443.2M while generating $1.1B in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal. 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.
Can Oscar Health, Inc. cover its interest payments?
Oscar Health, Inc. (OSCR) reported an operating loss of $396.4M against $17.6M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Oscar Health, Inc.?
Oscar Health, Inc. (OSCR) scores 46 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.