OSCR
Oscar Health, Inc.
OSCR has the edge over SNDL overall, supported by stronger fundamentals and stronger modeled upside.
SNDL
SNDL Inc.
SNDL has lower modeled downside risk, despite its lower overall score.
OSCR Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Healthy | |
| Strong | |
| Strong |
OSCR's revenue, profitability, cash flow and balance sheet are all currently healthy.
SNDL Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Stable | |
| Stable | |
| Strong |
SNDL's balance sheet is currently strong, and its revenue, profitability and cash flow are stable.
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.
SNDL PE Valuation
SNDL has no meaningful PE right now: it lost money over the past year.
OSCR Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Moderate |
OSCR has the edge over SNDL on the outlook, with more favorable revenue and profitability expectations.
SNDL Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses shrinking | |
| Decline | |
| Stable | |
| Limited | |
| High |
Analysts expect SNDL's losses to shrink, with revenue declining.
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 SNDL on earnings quality, reporting a profit while its opponent remains loss making.
SNDL Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | -$0.18 | +$0.07 |
| Q2 2026 | -$0.07 | +$0.20 |
| Q1 2026 | -$0.04 | +$0.25 |
| Q4 2025 | -$0.05 | +$0.21 |
| Q3 2025 | -$0.25 | +$0.04 |
| Q2 2025 | -$0.27 | +$0.03 |
| Q1 2025 | -$0.29 | +$0.08 |
| Q4 2024 | -$0.26 | +$0.20 |
SNDL is still losing money, but far less than before: $0.18 per share over the past year, against $23.08 at its worst in mid-2020.
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 SNDL on sales, with more consistent year-over-year improvement.
| 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 SNDL on profitability, with a higher operating margin.
SNDL Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $165.7M | -3.5% |
| Q2 2026 | $165.8M | -3.7% |
| Q1 2026 | $137.7M | -4.4% |
| Q4 2025 | $177.5M | -2% |
| Q3 2025 | $171.7M | +3.1% |
| Q2 2025 | $172.1M | +7.3% |
| Q1 2025 | $144.1M | +3.6% |
| Q4 2024 | $181.2M | +3.7% |
SNDL's revenue grew through 2023 and has held roughly level since: $166M last quarter, down 3.5% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -1.4% | +2.5 points |
| Q2 2026 | -2.3% | -3.5 points |
| Q1 2026 | -5.7% | -1.7 points |
| Q4 2025 | 4.1% | +34 points |
| Q3 2025 | -3.8% | +4 points |
| Q2 2025 | 1.2% | +3.3 points |
| Q1 2025 | -4% | -1.8 points |
| Q4 2024 | -30% | +4.7 points |
SNDL's operating margin was −1.4% last quarter, up 2.5 points from the same quarter a year ago.
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 has the edge over SNDL on cash flow, with more consistent year-over-year improvement.
SNDL Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $12.1M | -35% |
| Q2 2026 | $1.3M | -53% |
| Q1 2026 | $592.7K | -86% |
| Q4 2025 | $15M | +2.5% |
| Q3 2025 | $18.6M | +42% |
| Q2 2025 | $2.8M | +15% |
| Q1 2025 | $4.4M | +648% |
| Q4 2024 | $14.6M | +84% |
SNDL generated $29M in free cash flow over the past year, down 28% from the year before.
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 | — |
SNDL Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -3.8% | -9.7M shares |
| 1 year | -4% | -10.4M shares |
| 3 years | -5.2% | -13.5M shares |
| 5 years | +20% | +41.3M shares |
| Available history | +2217% | +236M shares |
SNDL has the edge over OSCR on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $6.7M |
| Q2 2026 | $16.5M |
| Q1 2026 | $6.7M |
| Q4 2025 | $220,754 |
| Q3 2025 | $2,109 |
| Q2 2025 | — |
| Q1 2025 | $10.6M |
| Q4 2024 | $9.3M |
SNDL spent $30M buying back its own shares over the past year, up 52% from the year before.
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 SNDL on leverage, with a lower net debt burden relative to earnings.
SNDL Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 0.5x | Very low |
| Q2 2026 | -0.5x | Net Cash |
| Q1 2026 | -1.3x | Net Cash |
| Q4 2025 | -2.1x | Net Cash |
SNDL's net debt is less than a year of its operating earnings (EBITDA).
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).
SNDL Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 51.8 | Neutral |
| Stochastic | 66.2 | Neutral |
SNDL's weekly RSI is 52 (neutral) and its Stochastic is 66 (neutral).
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.
SNDL PE vs Healthcare Sector
SNDL has no meaningful PE right now: it lost money over the past year.
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 SNDL on trend strength, trading above more of its moving averages.
SNDL Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $1.31 | 6.1% above |
| 20 week MA | $1.31 | 6.1% above |
| 50 week MA | $1.45 | 4.1% below |
| 100 week MA | $1.60 | 13% below |
| 200 week MA | $1.69 | 18% below |
SNDL has bounced recently, but its long-term trend is still down: it's above its 8- and 20-week averages, but 18% below its 200-week average.
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 SNDL on returns for 2026, with the stronger performance.
SNDL Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $22.7 | $4.73 | -79% |
| 2021 | $4.73 | $6.70 | +42% |
| 2022 | $6.70 | $2.08 | -69% |
| 2023 | $2.08 | $1.64 | -21% |
| 2024 | $1.64 | $1.79 | +9.1% |
| 2025 | $1.79 | $1.73 | -3.4% |
| 2026 YTD | $1.73 | $1.39 | -20% |
SNDL has finished lower in four of the last six years. It's down 20% so far in 2026.