ATEC
Alphatec Holdings, Inc.
ATEC offers stronger modeled upside, but that advantage does not outweigh its weaker overall profile.
OSCR
Oscar Health, Inc.
OSCR has the edge over ATEC overall, supported by stronger fundamentals and lower modeled downside.
ATEC Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Stable | |
| Under pressure | |
| Weak |
ATEC's revenue is currently healthy, and its profitability is stable, but its cash flow and balance sheet are under pressure.
OSCR Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Healthy | |
| Strong | |
| Strong |
OSCR's revenue, profitability, cash flow and balance sheet are all currently healthy.
ATEC PE Valuation
ATEC has no meaningful PE right now: it lost money over the past year.
OSCR PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 12x | $31.94 | — |
| Current | 13x | $31.94 | — |
| Cheap | 21x | $52.73 | +65% |
| Fair | 35x | $87.23 | +173% |
| Expensive | 130x | $322 | +907% |
Historical ranges are pointers, not guarantees.
OSCR's PE is 13x, but its earnings don't support one, so it isn't a reliable read right now.
ATEC Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Strong growth | |
| Growth | |
| Strongly improving | |
| Limited | |
| Low |
Analysts expect earnings and revenue growth for ATEC, with profitability improving. However, they disagree widely on these estimates.
OSCR Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Moderate |
Analysts expect strong earnings and revenue growth for OSCR, with profitability improving.
ATEC Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $0.50 | — |
| Q3 2026 | -$0.56 | +$0.47 |
| Q2 2026 | -$0.72 | +$0.40 |
| Q1 2026 | -$0.83 | +$0.31 |
| Q4 2025 | -$0.96 | +$0.17 |
| Q3 2025 | -$1.03 | +$0.24 |
| Q2 2025 | -$1.12 | +$0.22 |
| Q1 2025 | -$1.14 | +$0.34 |
| Q4 2024 | -$1.13 | +$0.41 |
ATEC is still losing money, but far less than before: $0.56 per share over the past year, against $1.67 at its worst in early 2022.
OSCR Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $2.61 | +5.6% |
| Q3 2026 | $2.47 | +$3.47 |
| Q2 2026 | $1.45 | +$2.14 |
| Q1 2026 | -$0.54 | -235% |
| Q4 2025 | -$1.69 | -1790% |
| Q3 2025 | -$1.00 | -$0.92 |
| Q2 2025 | -$0.69 | -$0.54 |
| Q1 2025 | $0.40 | +$0.82 |
| Q4 2024 | $0.10 | +$1.32 |
OSCR has the edge over ATEC on earnings quality, reporting a profit while its opponent remains loss making.
ATEC Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $221.2M | +13% |
| Q2 2026 | $213.5M | +15% |
| Q1 2026 | $192.1M | +14% |
| Q4 2025 | $212.9M | +20% |
| Q3 2025 | $196.5M | +30% |
| Q2 2025 | $185.5M | +27% |
| Q1 2025 | $169.2M | +22% |
| Q4 2024 | $176.8M | +28% |
ATEC's revenue has grown year over year every quarter since late 2020: $221M last quarter, up 13% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 1.5% | +9.6 points |
| Q2 2026 | -0.9% | +6.2 points |
| Q1 2026 | -12% | +14 points |
| Q4 2025 | -4.1% | +9.3 points |
| Q3 2025 | -8.1% | +14 points |
| Q2 2025 | -7% | +17 points |
| Q1 2025 | -26% | +5.1 points |
| Q4 2024 | -13% | +19 points |
ATEC's operating margin was 1.5% last quarter, up 9.6 points from the same quarter a year ago, near the top of its range since 2019.
OSCR Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $5.1B | +72% |
| Q2 2026 | $4.9B | +70% |
| Q1 2026 | $4.6B | +53% |
| Q4 2025 | $2.8B | +17% |
| Q3 2025 | $3B | +23% |
| Q2 2025 | $2.9B | +29% |
| Q1 2025 | $3B | +42% |
| Q4 2024 | $2.4B | +67% |
OSCR has the edge over ATEC on sales, with stronger typical year-over-year growth.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 3.5% | +7.8 points |
| Q2 2026 | 8% | +16 points |
| Q1 2026 | 15% | +5.4 points |
| Q4 2025 | -12% | -5.7 points |
| Q3 2025 | -4.3% | -2.3 points |
| Q2 2025 | -8.1% | -11 points |
| Q1 2025 | 9.8% | +1.1 points |
| Q4 2024 | -6.2% | +4 points |
OSCR has the edge over ATEC on profitability, with a higher operating margin.
ATEC Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $5.6M | +16% |
| Q2 2026 | $582K | -89% |
| Q1 2026 | -$10.8M | +$4.2M |
| Q4 2025 | $7.7M | -9.7% |
| Q3 2025 | $4.8M | +$26M |
| Q2 2025 | $5.2M | +$50.7M |
| Q1 2025 | -$15M | +$54.8M |
| Q4 2024 | $8.5M | +$59.3M |
ATEC has burned cash in most quarters: $3M over the past year, down 15% from the year before.
OSCR Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$1.2B | -$238.2M |
| Q2 2026 | $2.1B | +316% |
| Q1 2026 | $2.6B | +200% |
| Q4 2025 | $662.8M | +95% |
| Q3 2025 | -$973.7M | -$466M |
| Q2 2025 | $499.8M | +2.1% |
| Q1 2025 | $869.5M | +38% |
| Q4 2024 | $340M | +17% |
OSCR usually generates cash, though not every quarter: the latest was −$1.2B, but it generated $4.1B over the past year.
ATEC Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.5% | +801K shares |
| 1 year | +3.9% | +6M shares |
| 3 years | +29% | +34.9M shares |
| 5 years | +58% | +57.8M shares |
| Available history | +201% | +105M shares |
ATEC has the edge over OSCR on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q4 2021 | — |
OSCR Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +3.9% | +13M shares |
| 1 year | +34% | +87.2M shares |
| 3 years | +55% | +123M shares |
| 5 years | +66% | +138M shares |
| Available history | +71% | +143M shares |
OSCR has 346M diluted shares, up 34% from a year ago.
| Quarter | Spent |
|---|---|
| Q4 2020 | — |
| Q3 2020 | — |
| Q2 2020 | — |
| Q1 2020 | — |
ATEC Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 12.1x | High |
| Q2 2026 | 27.3x | High |
| Q1 2026 | 64.7x | High |
ATEC's net debt is about 12 years of its operating earnings (EBITDA).
OSCR Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -4.2x | Net Cash |
| Q2 2026 | -5.5x | Net Cash |
| Q1 2026 | -110.0x | Net Cash |
| Q1 2025 | -9.7x | Net Cash |
| Q4 2024 | -13.7x | Net Cash |
| Q3 2024 | -10.1x | Net Cash |
| Q2 2024 | -24.0x | Net Cash |
| Q1 2024 | -217.7x | Net Cash |
OSCR has the edge over ATEC on leverage, with a lower net debt burden relative to earnings.
ATEC Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 35.7 | Neutral |
| Stochastic | 6.9 | Oversold |
ATEC's weekly RSI is 36 (neutral) and its Stochastic is 7 (oversold).
OSCR Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 58.7 | Neutral |
| Stochastic | 44.9 | Neutral |
OSCR's weekly RSI is 59 (neutral) and its Stochastic is 45 (neutral).
ATEC PE vs Healthcare Sector
ATEC has no meaningful PE right now: it lost money over the past year.
OSCR PE vs Healthcare Sector
| Metric | OSCR | Sector median | Relative |
|---|---|---|---|
| PE | 13x | 26x | 50% below |
| PE % | 3 | 35 | 32 pts below |
OSCR is trading at 13x earnings, a 50% discount to the Healthcare sector's median of 26x, though its earnings don't support one.
ATEC Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $9.24 | 24% below |
| 20 week MA | $9.35 | 24% below |
| 50 week MA | $11.7 | 39% below |
| 100 week MA | $12.3 | 43% below |
| 200 week MA | $12.4 | 43% below |
ATEC is in a downtrend: it's below all five of its weekly moving averages, and 43% below its 200-week average.
OSCR Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $31.2 | 2.3% above |
| 20 week MA | $31.1 | 2.8% above |
| 50 week MA | $22.9 | 39% above |
| 100 week MA | $19.3 | 65% above |
| 200 week MA | $15.5 | 106% above |
OSCR has the edge over ATEC on trend strength, trading above more of its moving averages.
ATEC Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $7.09 | $14.1 | +99% |
| 2021 | $14.1 | $12.4 | -12% |
| 2022 | $12.4 | $11.7 | -5.4% |
| 2023 | $11.7 | $15.1 | +29% |
| 2024 | $15.1 | $9.19 | -39% |
| 2025 | $9.19 | $21.0 | +128% |
| 2026 YTD | $21.0 | $7.06 | -66% |
ATEC has finished lower in three of the last six years. It's down 66% so far in 2026.
OSCR Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2021 | $31.0 | $8.02 | -74% |
| 2022 | $8.02 | $2.21 | -72% |
| 2023 | $2.21 | $9.15 | +314% |
| 2024 | $9.15 | $13.8 | +51% |
| 2025 | $13.8 | $14.9 | +8% |
| 2026 YTD | $14.9 | $31.9 | +114% |
OSCR has the edge over ATEC on returns for 2026, with the stronger performance.