A Business at a Glance
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At Clover Health, our vision is to empower every physician with technology to identify, manage, and treat chronic diseases earlier. This results in earlier diagnosis and treatment, earlier disease management and more affordable and accessible care. Our strategy is to improve the care of our Medicare Advantage ("MA") members, develop wide physician networks, and provide technology to help empower physicians. Our proprietary software platform, Clover Assistant (licensed externally as Counterpart Assistant), supports clinical real-time decision making at the point of care by equipping the clinical with data and insights. This helps us execute our strategy by enabling physicians to detect, identify, and manage chronic diseases better than they otherwise could. This technology is a cloud-based software platform that curates data from over 100 sources and provides physicians with access to data-driven insights and personalized care recommendations for the patients.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 1.9B | 1.9B | 1.4B | 1.3B | 3.5B | 1.5B |
| Net Income | -86M | -86M | -43M | -213M | -340M | -588M |
| EPS | $-0.17 | $-0.17 | $-0.09 | $-0.44 | $-0.71 | $-1.42 |
| Free Cash Flow | -69M | -69M | 33M | -145M | -291M | -283M |
| ROIC | -29.3% | -26.3% | -12.6% | -74.5% | -95.1% | -105.8% |
| Gross Margin | 6.8% | 6.8% | 9.7% | 20.4% | 0.7% | -5.4% |
| Debt/Equity | 0.00 | 0.75 | 0.70 | 0.99 | 0.00 | 0.04 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | -86M | -86M | -46M | -205M | -372M | -637M |
| Operating Margin | -4.4% | -4.4% | -3.3% | -16.3% | -10.7% | -43.3% |
| ROE | -27.7% | -26.3% | -12.6% | -74.5% | -95.1% | -109.8% |
| Shares Outstanding | 503M | 503M | 478M | 485M | 478M | 414M |
| Metric | 2020 | 2021 | 2022 | 2023 | |||
|---|---|---|---|---|---|---|---|
| Income Statement | |||||||
| Revenue | 673M | 1.5B | 3.5B | 1.3B | 1.4B | 1.9B | 1.9B |
| Gross Margin | 2.4% | -5.4% | 0.7% | 20.4% | 9.7% | 6.8% | 6.8% |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 121M | 185M | 208M | 183M | 176M | 214M | 214M |
| EBIT | -93M | -637M | -372M | -205M | -46M | -86M | -86M |
| Op. Margin | -13.8% | -43.3% | -10.7% | -16.3% | -3.3% | -4.4% | -4.4% |
| Net Income | -136M | -588M | -340M | -213M | -43M | -86M | -86M |
| Net Margin | -20.3% | -39.9% | -9.8% | -16.9% | -3.1% | -4.4% | -4.4% |
| Non-Recurring | 0 | 0 | 0 | 22M | 288K | 0 | 0 |
| Returns on Capital | |||||||
| ROIC | -27.4% | -105.8% | -95.1% | -74.5% | -12.6% | -26.3% | -29.3% |
| ROE | N/A | -109.8% | -95.1% | -74.5% | -12.6% | -26.3% | -27.7% |
| ROA | -51.0% | -61.8% | -42.0% | -37.4% | -7.4% | -15.3% | -15.8% |
| Cash Flow | |||||||
| Op. Cash Flow | -118M | -282M | -286M | -145M | 35M | -67M | -67M |
| Free Cash Flow | -119M | -283M | -291M | -145M | 33M | -69M | -69M |
| Owner Earnings | -126M | -447M | -452M | -288M | -81M | -172M | -172M |
| CapEx | 693K | 723K | 4.5M | 584K | 1.6M | 2.0M | 2.0M |
| Maint. CapEx | 555K | 1.2M | 1.2M | 2.5M | 1.3M | 1.7M | 1.7M |
| Growth CapEx | 138K | 0 | 3.3M | 0 | 225K | 357K | 357K |
| D&A | 555K | 1.2M | 1.2M | 2.5M | 1.3M | 1.7M | 1.7M |
| CapEx/OCF | N/A | N/A | N/A | N/A | 4.5% | N/A | 0.0% |
| Capital Allocation | |||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 147K | 6.4M | 6.2M | 1.8M | 18M | 18M |
| Buyback Yield | N/A | 0.0% | 1.5% | N/A | 0.1% | 1.4% | 1.8% |
| Stock-Based Comp | 7.1M | 164M | 164M | 141M | 114M | 104M | 104M |
| Debt Repayment | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Balance Sheet | |||||||
| Net Debt | 52M | -574M | -145M | N/A | N/A | N/A | -78M |
| Cash & Equiv. | 92M | 300M | 104M | 116M | 195M | 78M | 78M |
| Long-Term Debt | 106M | 20M | 0 | N/A | N/A | N/A | N/A |
| Debt/Equity | -0.24 | 0.04 | 0.00 | 0.99 | 0.70 | 0.75 | 0.00 |
| Interest Coverage | -2.6 | -199.5 | -278.8 | -29332.7 | N/A | N/A | N/A |
| Equity | -617M | 535M | 357M | 286M | 341M | 309M | 309M |
| Total Assets | 267M | 951M | 809M | 571M | 581M | 541M | 541M |
| Total Liabilities | 880M | 411M | 452M | 284M | 240M | 232M | 232M |
| Intangibles | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Retained Earnings | -1.0B | -1.6B | -1.9B | -2.2B | -2.2B | -2.3B | -2.3B |
| Working Capital | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Current Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Current Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Per Share Data | |||||||
| EPS | -1.54 | -1.42 | -0.71 | -0.44 | -0.09 | -0.17 | -0.17 |
| Owner EPS | -0.27 | -1.08 | -0.94 | -0.59 | -0.17 | -0.34 | -0.34 |
| Book Value | -1.30 | 1.29 | 0.75 | 0.59 | 0.71 | 0.61 | 0.61 |
| Cash Flow/Share | -0.25 | -0.68 | -0.60 | -0.30 | 0.07 | -0.13 | -0.17 |
| Dividends/Share | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 473.3M | 413.9M | 478.3M | 484.9M | 477.9M | 503.2M | 503.2M |
| Valuation | |||||||
| P/E Ratio | N/A | N/A | N/A | N/A | N/A | N/A | -11.9 |
| P/FCF | N/A | N/A | N/A | N/A | 46.8 | N/A | N/A |
| EV/EBIT | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Price/Book | N/A | 3.0 | 1.2 | 1.6 | 4.6 | 4.1 | 3.3 |
| Price/Sales | 7.7 | 2.6 | 0.3 | 0.4 | 0.7 | 0.8 | 0.5 |
| FCF Yield | -1.5% | -17.6% | -69.7% | -30.9% | 2.1% | -5.5% | -6.8% |
| Market Cap | 8.1B | 1.6B | 418M | 470M | 1.6B | 1.3B | 1.0B |
| Avg. Price | 10.95 | 9.10 | 2.41 | 1.04 | 1.92 | 3.22 | 2.03 |
| Year-End Price | 17.07 | 3.89 | 0.87 | 0.97 | 3.26 | 2.51 | 2.03 |
CLOVER HEALTH INVESTMENTS, CORP. /DE passes 0 of 9 quality checks, indicating weak fundamentals.
The company's 5-year average gross margin is 6.4%. Total shareholder yield (buybacks) is 1.8%.
CLOVER HEALTH INVESTMENTS, CORP. /DE (CLOV) has a 5-year average return on invested capital (ROIC) of -62.9%. This is below average and may indicate limited pricing power.
CLOVER HEALTH INVESTMENTS, CORP. /DE (CLOV) has a market capitalization of $1.0B. It is classified as a small-cap stock.
CLOVER HEALTH INVESTMENTS, CORP. /DE (CLOV) does not currently pay a regular dividend. However, the company returns capital to shareholders through share buybacks, with a buyback yield of 1.79%.
CLOVER HEALTH INVESTMENTS, CORP. /DE (CLOV) operates in the Hospital & Medical Service Plans industry, within the Financials sector.
CLOVER HEALTH INVESTMENTS, CORP. /DE (CLOV) reported annual revenue of $1.9 billion in its most recent fiscal year, based on SEC EDGAR filings.
CLOVER HEALTH INVESTMENTS, CORP. /DE (CLOV) has a net profit margin of -4.4%. The company is currently unprofitable.
CLOVER HEALTH INVESTMENTS, CORP. /DE (CLOV) generated $-69 million in free cash flow in its most recent fiscal year. Negative free cash flow may indicate heavy investment or operational challenges.
CLOVER HEALTH INVESTMENTS, CORP. /DE (CLOV) has a debt-to-equity ratio of 0.75. This indicates moderate leverage.
CLOVER HEALTH INVESTMENTS, CORP. /DE (CLOV) reported earnings per share (EPS) of $-0.17 in its most recent fiscal year.
CLOVER HEALTH INVESTMENTS, CORP. /DE (CLOV) has a return on equity (ROE) of -26.3%. A negative ROE may indicate losses or negative equity.
CLOVER HEALTH INVESTMENTS, CORP. /DE (CLOV) has a 5-year average gross margin of 6.4%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 6 years of financial data for CLOVER HEALTH INVESTMENTS, CORP. /DE (CLOV), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
CLOVER HEALTH INVESTMENTS, CORP. /DE (CLOV) has a book value per share of $0.61, based on its most recent annual SEC filing.
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