Oscar Health Inc. (OSCR) Insider, 13F Hedge Fund & Politician Buy/Sell Thermometer

OSCR scores 53 out of 100, equating to a letter grade of D+ and the verdict label "Roarable Sell — Weak Fundamentals / Trim." The fundamental cash engine pillar scores 8/20, reflecting ROIC of -35% alongside an FCF yield of 11.51%; the positive FCF yield contrasts sharply with negative returns on invested capital, so an investor should weigh cash generation against value destruction on the capital base. The whale 13F flow pillar scores 11/20 for institutional accumulation and options positioning, indicating only moderate institutional support. The insider conviction pillar scores 13/20 based on SEC Form 4 and Congressional PTR cluster flow, a middling reading. The macro regime fit pillar scores 13/20, with beta of 0.97 suggesting market-like sensitivity. The forensic balance sheet pillar scores 8/20, reflecting Altman Z of 0.45, Piotroski F of 6/9, and Debt/Equity of 0.44; the low Altman Z sits in a range that warrants caution regarding financial distress risk. Taken together, the sub-60 composite and weak fundamental and forensic pillars translate to limited margin of safety for a prospective investor evaluating the stock at current levels. Upside drivers would need to come from sustained operating improvement, and the rating frames the current setup as weak rather than compelling.

Oscar Health Inc. (OSCR) is a NYSE-listed operating company in the Medical Specialities industry (Health Care sector) with an equity market capitalization of $9.37B. The business operates with a gross margin of 0%, an operating margin of -60%, and a return on invested capital (ROIC) of -35% (free cash flow yield of 11.51%). Within the Medical Specialities peer group, investor evaluation centers on operating leverage, unit margin durability, and capital allocation efficiency across market cycles.

FY 2025 shows an operating loss and net loss after a profitable FY 2024, with operating margin at -60% and net margin at -60% per the market data. ROIC is -35%, and the Altman Z-Score is 0.45 and Piotroski F-Score is 6/9. Debt/Equity is 0.44 per the forensic balance sheet pillar, and the SEC financials show debt of $430.1M against cash of $2.77B in FY 2025.

• 🐂 Primary Bull Case: Positive FCF yield of 11.51% and a forward P/E of 23 sit alongside a reported raised 2026 outlook in the news feed. With Fundamental Cash Engine at 8/20 (ROIC -35.0%, FCF yield 11.51%) and Institutional Whale Flow at 11/20, sustained execution supports upside toward the top of the $10.69 – $35.01 52-week range.
• 🐻 Primary Bear Case: ROIC of -35%, Altman Z of 0.45, and FY 2025 net loss of -$443.2M after FY 2024 net income of $25.4M point to weak fundamentals. Investors must weigh current valuation against -60.0% operating margins and a 0.97 macro beta if sector demand softens.

Beta of 0.97 per the market data is the only sensitivity measure supplied.

• Key Question #1: What drives the gap between FY 2024 net income of $25.4M and FY 2025 net loss of -$443.2M, and is the FY 2025 loss a recurring pattern?
• Key Question #2: Why is the EPS for each reported fiscal year listed as N/A, and what is the basis for the EPS (TTM) of -1.44?
• Key Question #3: What explains the swing in cash from $1.53B to $2.77B and the FCF of $1.09B given negative operating income?