OSCR
Oscar Health, Inc.
OSCR has the edge over TMCI overall, supported by stronger fundamentals and lower modeled downside.
TMCI
Treace Medical Concepts, Inc.
TMCI offers stronger modeled upside, but that advantage does not outweigh its weaker overall profile.
OSCR Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Healthy | |
| Strong | |
| Strong |
OSCR's revenue, profitability, cash flow and balance sheet are all currently healthy.
TMCI Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Weak | |
| Under pressure | |
| Weak |
TMCI's revenue is currently stable, but its profitability, cash flow and balance sheet are under pressure.
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.
TMCI PE Valuation
TMCI 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 |
Analysts expect strong earnings and revenue growth for OSCR, with profitability improving.
TMCI Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses shrinking | |
| Growth | |
| Strongly improving | |
| Limited | |
| Moderate |
Analysts expect TMCI's losses to shrink, with revenue growing.
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 TMCI on earnings quality, reporting a profit while its opponent remains loss making.
TMCI Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | -$0.85 | -$0.05 |
| Q2 2026 | -$0.92 | -$0.13 |
| Q1 2026 | -$0.96 | -$0.11 |
| Q4 2025 | -$0.93 | -$0.03 |
| Q3 2025 | -$0.80 | +$0.19 |
| Q2 2025 | -$0.79 | +$0.23 |
| Q1 2025 | -$0.85 | +$0.03 |
| Q4 2024 | -$0.90 | -$0.09 |
TMCI is still losing money, but less than at its worst: $0.85 per share over the past year, against $1.02 at its worst in mid-2024.
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 TMCI 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 TMCI on profitability, with a higher operating margin.
TMCI Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $48.3M | -3.9% |
| Q2 2026 | $45.4M | -4.2% |
| Q1 2026 | $47.2M | -10% |
| Q4 2025 | $62.5M | -9% |
| Q3 2025 | $50.2M | +11% |
| Q2 2025 | $47.4M | +6.6% |
| Q1 2025 | $52.6M | +2.9% |
| Q4 2024 | $68.7M | +10% |
TMCI's revenue has slid since its 2024 peak: $48M last quarter, down 3.9% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -24% | +7.3 points |
| Q2 2026 | -33% | +2.9 points |
| Q1 2026 | -36% | -6.7 points |
| Q4 2025 | -9.5% | -9.2 points |
| Q3 2025 | -31% | +2.4 points |
| Q2 2025 | -36% | +12 points |
| Q1 2025 | -30% | +7.5 points |
| Q4 2024 | -0.3% | +11 points |
TMCI's operating margin was −24% last quarter, up 7.3 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 TMCI on cash generation, producing positive trailing cash flow while its opponent burns cash.
TMCI Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$5.4M | +$6.5M |
| Q2 2026 | -$6.9M | +$918K |
| Q1 2026 | $4.2M | +538% |
| Q4 2025 | -$10.4M | -$3.1M |
| Q3 2025 | -$11.9M | +$2.8M |
| Q2 2025 | -$7.8M | +$7.8M |
| Q1 2025 | $655K | +$11.8M |
| Q4 2024 | -$7.3M | -$5.6M |
TMCI has burned cash in almost every quarter: −$19M over the past year, against −$26M 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 | — |
TMCI Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.6% | +415K shares |
| 1 year | +3.1% | +1.9M shares |
| 3 years | +6.3% | +3.9M shares |
| 5 years | +24% | +12.7M shares |
| Available history | +49% | +21.6M shares |
TMCI has the edge over OSCR on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q4 2020 | — |
| Q3 2020 | — |
| Q2 2020 | — |
| Q1 2020 | — |
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 more cash than debt.
TMCI Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q4 2020 | 36.3x | High |
TMCI's net debt is more than 20 years 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).
TMCI Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 64.8 | Neutral |
| Stochastic | 57.5 | Neutral |
TMCI's weekly RSI is 65 (neutral) and its Stochastic is 58 (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.
TMCI PE vs Healthcare Sector
TMCI 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 TMCI on trend strength, trading above more of its moving averages.
TMCI Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $4.35 | 23% above |
| 20 week MA | $4.41 | 21% above |
| 50 week MA | $3.22 | 66% above |
| 100 week MA | $5.03 | 6.2% above |
| 200 week MA | $9.47 | 44% below |
TMCI has bounced recently, but its long-term trend is still down: it's above its 8-, 20-, 50- and 100-week averages, but 44% 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's yearly returns have swung widely, from +314% in 2023 to −74% in 2021. It's up 114% so far in 2026.
TMCI Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2021 | $25.5 | $17.3 | -32% |
| 2022 | $17.3 | $23.9 | +39% |
| 2023 | $23.9 | $12.8 | -47% |
| 2024 | $12.8 | $6.98 | -45% |
| 2025 | $6.98 | $2.42 | -65% |
| 2026 YTD | $2.42 | $5.34 | +121% |
TMCI has the edge over OSCR on returns for 2026, with the stronger performance.