OSCR
Oscar Health, Inc.
OSCR has the edge over WAT overall, supported by stronger valuation and stronger fundamentals.
WAT
Waters Corporation
WAT 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.
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.
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 has the edge over WAT in the historical PE scenario, which offers more potential upside but is not a forecast.
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.
OSCR Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Moderate |
OSCR has the edge over WAT on the outlook, with more favorable profitability expectations.
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.
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 returned to profit: it earned $2.47 per share over the past year, after losing money 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's earnings per share have fallen from their peak: $2.33 over the past year, against $11.75 in late 2022.
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 WAT 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's operating margin was 3.5% last quarter, up 7.8 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 OSCR on profitability, with a higher operating margin.
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 stronger cash trend. Its trailing FCF is up 545% versus its history, compared with WAT at down 48%.
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.
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 the edge over WAT on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q4 2020 | — |
| Q3 2020 | — |
| Q2 2020 | — |
| Q1 2020 | — |
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.
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 WAT on leverage, with a lower net debt burden relative to earnings.
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.
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).
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).
OSCR PE vs Healthcare Sector
| Metric | OSCR | Sector median | Relative |
|---|---|---|---|
| PE | 13x | 26x | 50% below |
| PE % | 3 | 35 | 32 pts below |
OSCR has the edge over WAT on valuation relative to its sector.
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.
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 is in an uptrend: it's above all five of its weekly moving averages, and 106% above 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 is in an uptrend: it's above all five of its weekly moving averages, and 37% above 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 WAT on returns for 2026, with the stronger performance.
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 finished higher in four of the last six years. It's up 20% so far in 2026.