Forensic Analysis · Healthcare / Pharmaceuticals / Biotech · as of Jun 27, 2026
Oscar Health, Inc. (OSCR)
A forensic read on Oscar Health, Inc. built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
D · Weak — demands caution
Forensic grade
Distress
Financial health
-2.2
Altman Z-score
Clean
Earnings quality
3
Forensic signals
-3.3%
ROE
$9.0B
Market cap
Oscar Health, Inc. earns a D (Weak — demands caution) forensic quality grade, and its Altman Z-score is -2.2, placing it in the Distress zone. 3 forensic signals were flagged in its latest SEC filings, led by return on invested capital.
What the filings flag
-118%Return on invested capital.Return on invested capital is -118% and steady — well below its ~10% cost of capital, so reinvested dollars may be destroying value, not building it.
+7.8%/yrShare-count dilution.Diluted share count changed +23% over the last 3 years to FY2025 (+7.8%/yr). The count is GROWING — existing holders are being diluted. That's ~7.8% shaved off per-share growth every year — total profit has to grow that much just to keep earnings-per-share flat, and a stake held since FY2022 has been diluted ~23%.
stoppedShareholder returns — halted.Capital returns have STOPPED — $3M of buybacks + dividends in FY2019, but ~$0 in FY2021. A halt usually means the company is conserving cash; understand why before reading it as neutral.
Key fundamentals
Net Margin-3.8%
Debt / Equity0.44x
Free Cash Flow$1.06B
Latest Revenue$11.70B
Return on Equity-45.3%
Revenue Growth YoY+27.5%
Go deeper — free with an account
The forensic grade and screens above are free — no account needed. An account adds the full interactive deep-dive on Oscar Health, Inc.:
🔒The written investment read — what the numbers mean, in plain English
🔒Ask anything about OSCR's filings — AI Q&A across the 10-K, 10-Qs & 8-Ks
🔒Interactive valuation — reverse-DCF sliders, Monte Carlo & scenario stress
🔒Calibrated 12-month price forecast, with the math shown