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Tech-driven US health insurer selling individual ACA marketplace and small-group plans through its own digital platform.
Tech-driven US health insurer selling individual ACA marketplace and small-group plans through its own digital platform.
Collects monthly premiums, many of them largely covered by federal subsidies for ACA plans, and pays the members' medical bills, so profit is the gap between premiums and claims. A risk-adjustment system transfers money between insurers depending on how sick each one's members are, so the size and health mix of its enrollees matter. Florida and Texas are its largest states.
In one line: A tech-first, digital-first health insurer.
Moat: none (data). Digital member experience differentiates but underwriting scale still trails large incumbents.
Headquarters: New York, New York, USA · Founded: 2012 · Employees: 2,305
Size Oscar Health (OSCR) is a United States Health Care company (Managed Health Care) with a market value of $8.38B, the 864th largest of 3,117 United States companies the cockpit tracks. Shares closed at $30.65 on 6 Nov 2026.
Performance Over six months the shares gained 43.8%, against +12.4% for the median peer and -1.1% for the United States market (cap-weighted) — 2nd highest of 8 in its peer set.
Growth Revenue grew 42.8% over the last twelve months (peer median +8.2%); the operating margin is 4.1% (peer median 1.9%).
Valuation It trades at 4.61× book value against a peer median of 2.62× (2nd most expensive of 8).
Price implies The share price implies a return on equity of about 70.7%; Oscar Health delivers 34.3%, so the price asks more than the business earns today.
Credit Oscar Health has 1 bond outstanding ($410M).
Short interest Short interest is 6.7% of the free float (15 Oct 2026).
Next results Next results expected around 11 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $15.3B | $11.7B | $9.18B | $5.86B | $3.96B |
| Revenue growth | — | +28% | +57% | +48% | — |
| Net income | $551M | -$443M | $25.4M | -$271M | -$606M |
| Free cash flow | $4.38B | $1.06B | $950M | -$298M | $351M |
| Capital expenditure | $38.6M | $36.4M | $27.9M | $25.6M | $29.0M |
| Total debt | $432M | $430M | $300M | $299M | $298M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| Oscar Health OSCR | $8.38B | +44% | +43% | 34% | 4.61× | 70.7% |
| Centene CNC | $34.5B | +25% | +10% | 7% | 1.55× | 14.3% |
| Elevance Health ELV | $92.0B | +13% | +4% | 12% | 2.06× | 13.4% |
| UnitedHealth UNH | $353B | +4% | +3% | 16% | 3.60× | 19.1% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | OSCR | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -7.4% | +6.2% | 2nd lowest of 8 |
| 6-month return | +43.8% | +12.4% | 2nd highest of 8 |
| Return on equity | 34.3% | 11.6% | highest of 8 |
| Price / book | 4.61× | 2.62× | 2nd most expensive of 8 |
| Trailing P/E | 22.4× | 23.2× | 3rd cheapest of 7 |
| ROE the price implies | 70.7% | 16.9% | most demanding of 8 |
| ROE delivered | 34.3% | 11.6% | highest of 8 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| Oscar Health OSCR | United States | $8.38B | +44% | +43% | 34% | 4.61× | 70.7% | 34.3% |
| Molina Healthcare MOH | United States | $10.9B | +12% | -1% | -1% | 2.62× | 17.6% | -1.2% |
| Centene CNC | United States | $34.5B | +25% | +10% | 7% | 1.55× | 14.3% | 6.8% |
| Alignment Healthcare ALHC | United States | $1.54B | -59% | +36% | 13% | 5.54× | 42.9% | 13.2% |
| Humana HUM | United States | $52.1B | +58% | +18% | 7% | 2.71× | 16.9% | 6.8% |
| Cigna CI | United States | $77.6B | +3% | +8% | 15% | 1.82× | 9.1% | 15.5% |
| Elevance Health ELV | United States | $92.0B | +13% | +4% | 12% | 2.06× | 13.4% | 11.6% |
| UnitedHealth UNH | United States | $353B | +4% | +3% | 16% | 3.60× | 19.1% | 16.4% |
Oscar Health has 1 bond outstanding with $410M face value.