OSCAR HEALTH Reports Positive Earnings Results for Q2 of FY2023
August 20, 2023
☀️Earnings Overview
Oscar Health ($NYSE:OSCR) on June 30th 2023 reported its financial results for the second quarter of FY2023. Total revenue amounted to USD 1522.1 million, representing a 49.6% year-on-year growth. Net income for the quarter was also positive, amounting to -15.5 million, compared to the negative 112.2 million reported in the same period of the preceding year.
Stock Price
On Tuesday, OSCAR HEALTH reported its Q2 earnings results for FY2023 and the results were unequivocally positive for the company. The stock opened at $7.4 and closed at $7.1, representing a 3.1% decrease in price from the previous day’s closing of $7.4. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Oscar Health. More…
| Total Revenues | Net Income | Net Margin |
| 5.05k | -474.26 | -9.4% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Oscar Health. More…
| Operations | Investing | Financing |
| 183.27 | -228.5 | 4.01 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Oscar Health. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 4.56k | 3.61k | 4.28 |
Key Ratios Snapshot
Some of the financial key ratios for Oscar Health are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 95.3% | – | -8.9% |
| FCF Margin | ROE | ROA |
| 3.0% | -29.9% | -6.2% |
Analysis
At GoodWhale, we have conducted an analysis of OSCAR HEALTH‘s fundamentals. Our Risk Rating gives it a medium risk investment in terms of financial and business aspects. We have detected two risk warnings in the balance sheet and cashflow statement. To learn more about these warnings, you can register on our website, goodwhale.com. Our team of experts is available to answer any additional questions you may have about the company’s fundamentals and market position. More…
Peers
In the healthcare industry, there is intense competition among providers to offer the best coverage at the most affordable prices. Oscar Health Inc is one of the leading providers of health insurance in the United States. The company offers a wide range of health insurance plans and benefits to its customers. Its competitors, such as Cigna Corp, Molina Healthcare Inc, and Humana Inc, are all striving to offer the best possible coverage and benefits to their customers.
– Cigna Corp ($NYSE:CI)
Cigna Corp is a US based health insurance company with a market cap of 96.1B as of 2022. The company has a return on equity of 11.01%. Cigna Corp mainly provides health insurance and related services to individuals, families, and businesses in the United States and selected international markets.
– Molina Healthcare Inc ($NYSE:MOH)
Molina Healthcare Inc is a healthcare company that provides various healthcare services and products to its members. Its market cap as of 2022 is 21.45B and its ROE is 26.27%. The company offers a wide range of healthcare services and products, including but not limited to medical, dental, and vision care. It also has a wide network of providers and facilities.
– Humana Inc ($NYSE:HUM)
Human Inc is a publicly traded company with a market capitalization of 68.23 billion as of 2022. The company has a return on equity of 17.4%. Human Inc is a leading provider of health and well-being services in the United States. The company’s mission is to help people live their best lives. Human Inc offers a wide range of services, including primary care, preventive care, and chronic disease management. The company also provides health insurance coverage to its members.
Summary
Despite these positive results, the stock price of the company dropped on the same day. Investors should consider the long-term outlook of OSCAR HEALTH before making any decisions, as the current financial performance could be a sign of positive developments in the future. Additionally, analysts should compare the company’s fundamentals to its peers in order to make an informed decision.
