HealthEquity vs Oscar Health
Oscar Health reported revenue of $11.7 billion in fiscal 2025, 8.9 times HealthEquity's $1.3 billion in fiscal 2026. HealthEquity's revenue grew 9.5% in its latest year, and Oscar Health's grew 27.5%. HealthEquity had an operating margin of 24.6%, against -3.4% at Oscar Health. Free cash flow was $455 million at HealthEquity and $1.1 billion at Oscar Health. Their fiscal years end in different months (January 31 and December 31), so the periods don't line up exactly.
Side by side
| HealthEquity | Oscar Health | |
|---|---|---|
| Latest fiscal year | FY2026, Jan 31, 2026 | FY2025, Dec 31, 2025 |
| Revenue | $1.3B | $11.7B |
| Revenue growth | 9.5% | 27.5% |
| Revenue growth a year, last 5 years | 12.4% | 90.8% |
| Gross margin | 69.5% | — |
| Operating margin | 24.6% | −3.4% |
| Net margin | 16.4% | −3.8% |
| Free cash flow | $455M | $1.1B |
| Free cash flow margin | 34.6% | 9.1% |
| Return on capital | 8.9% | — |
| Net debt to EBITDA | 1.3x | — |
| Dividends and buybacks | $299M | $0M |
| Change in diluted share count | −1.5% | −1.3% |
| Last close | $103.75 | $31.10 |
| P/E at the last close | 37.5× | 23.9× |
| Insider trades, last 12 months | bought $11,942, sold $4.2 million | bought $11.9 million, sold $150.0 million |
| Piotroski F-score | 9 of 9 | 4 of 8 |
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.
Ten years
Revenue
US$ billions, fiscal years
HealthEquityOscar Health
Operating margin
Percent of revenue
HealthEquityOscar Health
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
HealthEquityOscar Health
Source: the companies' Form 10-K filings, from SEC EDGAR, and the last close. For information only, not investment advice: the figures describe results, not which company is the better investment. The Filing Desk is not affiliated with either company. Full figures on the HealthEquity and Oscar Health pages.