HIMS
Hims & Hers Health, Inc.
There isn't enough reported data to score HIMS yet.
WAT
Waters Corporation
WAT's fundamentals are mixed, but it looks expensive: trading at 198x earnings, about seven times its usual 30x. Analysts expect earnings growth.
HIMS Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Weak | |
| Stable | |
| Strong |
HIMS's revenue and balance sheet are currently strong, and its cash flow is stable, but its profitability is weak.
WAT Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Stable | |
| Unavailable | |
| Under pressure |
WAT's revenue is currently strong, and its profitability is stable, but its balance sheet is under pressure. There isn't enough data to rate its cash flow.
HIMS PE Valuation
HIMS has no meaningful PE right now: it lost money over the past year.
WAT PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 25x | $59.10 | -87% |
| Forward | 29x | $462 | — |
| Fair | 30x | $69.21 | -85% |
| Expensive | 36x | $83.13 | -82% |
| Current | 198x | $462 | — |
Historical ranges are pointers, not guarantees.
WAT's PE is in its expensive range at 198x. If earnings grow as analysts expect, today's price would be 29x next year's earnings, in its fair range.
HIMS Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Turning to a loss | |
| Strong growth | |
| Stable | |
| Limited | |
| Low |
Analysts expect HIMS's revenue to grow, but its earnings to decline. However, they disagree widely on these estimates.
WAT Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Growth | |
| Strong growth | |
| Strongly weakening | |
| Limited | |
| High |
Analysts expect earnings and revenue growth for WAT, but weaker profitability.
HIMS Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | -$0.83 | -257% |
| Q2 2026 | -$0.63 | -180% |
| Q1 2026 | -$0.09 | -113% |
| Q4 2025 | $0.51 | -3.8% |
| Q3 2025 | $0.53 | +20% |
| Q2 2025 | $0.79 | +888% |
| Q1 2025 | $0.68 | +$0.69 |
| Q4 2024 | $0.53 | +$0.64 |
HIMS has swung to a loss: it lost $0.83 per share over the past year, after a profit the year before.
WAT Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $15.99 | +586% |
| Q3 2026 | $2.33 | -79% |
| Q2 2026 | $4.01 | -64% |
| Q1 2026 | $7.87 | -29% |
| Q4 2025 | $10.77 | +0.6% |
| Q3 2025 | $10.88 | +3.8% |
| Q2 2025 | $11.09 | +10% |
| Q1 2025 | $11.02 | +8.1% |
| Q4 2024 | $10.71 | -1.3% |
WAT has the edge over HIMS on earnings quality, reporting a profit while its opponent remains loss making.
HIMS Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $890.4M | +49% |
| Q2 2026 | $753.2M | +38% |
| Q1 2026 | $608.1M | +3.8% |
| Q4 2025 | $617.8M | +28% |
| Q3 2025 | $599M | +49% |
| Q2 2025 | $544.8M | +73% |
| Q1 2025 | $586M | +111% |
| Q4 2024 | $481.1M | +95% |
HIMS has the edge over WAT on sales, with stronger typical year-over-year growth.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -7.4% | -9.4 points |
| Q2 2026 | -13% | -18 points |
| Q1 2026 | -13% | -23 points |
| Q4 2025 | 1.5% | -2.4 points |
| Q3 2025 | 2% | -3.6 points |
| Q2 2025 | 4.9% | +1.4 points |
| Q1 2025 | 9.9% | +6.3 points |
| Q4 2024 | 3.9% | +4 points |
HIMS's operating margin was −7.4% last quarter, down 9.4 points from the same quarter a year ago.
WAT Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $1.8B | +121% |
| Q2 2026 | $1.6B | +113% |
| Q1 2026 | $1.3B | +91% |
| Q4 2025 | $932.4M | +6.8% |
| Q3 2025 | $799.9M | +8% |
| Q2 2025 | $771.3M | +8.9% |
| Q1 2025 | $661.7M | +3.9% |
| Q4 2024 | $872.7M | +6.5% |
WAT's revenue has grown year over year for nine quarters in a row: $1.8B last quarter, up 121% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 7.2% | -17 points |
| Q2 2026 | -5.2% | -30 points |
| Q1 2026 | -3.7% | -27 points |
| Q4 2025 | 29% | -4.5 points |
| Q3 2025 | 24% | -4.5 points |
| Q2 2025 | 24% | -2.3 points |
| Q1 2025 | 23% | +1.9 points |
| Q4 2024 | 33% | +1.3 points |
WAT has the edge over HIMS on profitability, with a higher operating margin.
HIMS Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $26M | -67% |
| Q2 2026 | -$68.2M | +$1.3M |
| Q1 2026 | $53.1M | +5.9% |
| Q3 2025 | $79.3M | -7% |
| Q2 2025 | -$69.5M | -230% |
| Q1 2025 | $50.1M | +94% |
| Q3 2024 | $85.3M | +238% |
| Q2 2024 | $53.6M | +219% |
WAT has the stronger cash trend. Its trailing FCF is down 48% versus its history, compared with HIMS at down 84%.
WAT Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $54M | -71% |
| Q2 2026 | $153M | +272% |
| Q1 2026 | -$42M | -116% |
| Q3 2025 | $187.3M | -8.4% |
| Q2 2025 | $41.1M | -25% |
| Q1 2025 | $259.6M | -1.3% |
| Q4 2024 | $240.1M | +4.4% |
| Q3 2024 | $204.6M | +30% |
WAT still generates free cash flow, though less than at its 2020 peak: $352M over the past year.
HIMS Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.9% | +2.1M shares |
| 1 year | -6% | -14.9M shares |
| 3 years | +11% | +23.7M shares |
| 5 years | +17% | +33.8M shares |
HIMS has the edge over WAT on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q4 2025 | $80.5M |
| Q3 2025 | $9.5M |
| Q2 2025 | — |
| Q1 2025 | — |
| Q4 2024 | $5M |
| Q3 2024 | $30M |
| Q2 2024 | $19.9M |
| Q1 2024 | $28.1M |
WAT Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +66% | +39.2M shares |
| 1 year | +66% | +39.3M shares |
| 3 years | +67% | +39.7M shares |
| 5 years | +58% | +36.4M shares |
| Available history | +54% | +34.7M shares |
WAT has 99M diluted shares, up 66% from a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | $1M |
| Q2 2026 | $2M |
| Q1 2026 | $12M |
| Q4 2025 | $144,000 |
| Q3 2025 | $214,000 |
| Q2 2025 | $375,000 |
| Q1 2025 | $13.9M |
| Q4 2024 | $66,000 |
WAT has spent almost nothing on buybacks in the past year.
HIMS Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q1 2026 | -5.9x | Net Cash |
| Q4 2025 | -1.4x | Net Cash |
| Q3 2025 | -2.2x | Net Cash |
| Q2 2025 | -7.3x | Net Cash |
| Q1 2025 | -2.1x | Net Cash |
| Q4 2024 | -2.8x | Net Cash |
| Q3 2024 | -2.9x | Net Cash |
| Q2 2024 | -5.5x | Net Cash |
HIMS has more cash than debt.
WAT Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 3.5x | Elevated |
| Q2 2026 | 4.6x | High |
| Q1 2026 | 4.5x | High |
| Q4 2025 | 0.4x | Very low |
| Q3 2025 | 0.5x | Very low |
| Q2 2025 | 0.8x | Very low |
| Q1 2025 | 1.0x | Very low |
| Q4 2024 | 1.4x | Healthy |
WAT's net debt is about 3.5 years of its operating earnings (EBITDA), up from less than a year a year ago.
HIMS Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 36.0 | Neutral |
| Stochastic | 23.0 | Neutral |
HIMS's weekly RSI is 36 (neutral) and its Stochastic is 23 (neutral).
WAT Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 71.2 | Overbought |
| Stochastic | 79.0 | Neutral |
WAT's weekly RSI is 71 (overbought) and its Stochastic is 79 (neutral).
HIMS PE vs Healthcare Sector
| Metric | HIMS | Sector median | Relative |
|---|---|---|---|
| PE | N/A | 26x | — |
HIMS has no meaningful PE right now: it lost money over the past year.
WAT PE vs Healthcare Sector
| Metric | WAT | Sector median | Relative |
|---|---|---|---|
| PE | 198x | 26x | 667% above |
| PE % | 100 | 29 | 71 pts above |
WAT is trading at 198x earnings, a 667% premium to the Healthcare sector's median of 26x.
HIMS Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $27.3 | 28% below |
| 20 week MA | $29.2 | 32% below |
| 50 week MA | $27.7 | 29% below |
| 100 week MA | $35.9 | 45% below |
| 200 week MA | $24.4 | 19% below |
HIMS is in a downtrend: it's below all five of its weekly moving averages, and 19% below its 200-week average.
WAT Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $445.7 | 3.7% above |
| 20 week MA | $416.3 | 11% above |
| 50 week MA | $375.3 | 23% above |
| 100 week MA | $361.7 | 28% above |
| 200 week MA | $336.3 | 37% above |
WAT has the edge over HIMS on trend strength, trading above more of its moving averages.
HIMS Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $9.89 | $15.0 | +51% |
| 2021 | $15.0 | $6.65 | -56% |
| 2022 | $6.65 | $6.43 | -3.3% |
| 2023 | $6.43 | $8.90 | +38% |
| 2024 | $8.90 | $26.6 | +198% |
| 2025 | $26.6 | $34.3 | +29% |
| 2026 YTD | $34.3 | $19.7 | -42% |
HIMS's yearly returns have swung widely, from +198% in 2024 to −56% in 2021. It's down 42% so far in 2026.
WAT Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $233.8 | $247.1 | +5.7% |
| 2021 | $247.1 | $361.7 | +46% |
| 2022 | $361.7 | $346.7 | -4.2% |
| 2023 | $346.7 | $329.2 | -5% |
| 2024 | $329.2 | $374.6 | +14% |
| 2025 | $374.6 | $386.1 | +3.1% |
| 2026 YTD | $386.1 | $462.2 | +20% |
WAT has the edge over HIMS on returns for 2026, with the stronger performance.