A Business at a Glance
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Launched in 2017, Hims & Hers Health, Inc. (and together with its subsidiaries, “Hims & Hers”, the “Company”, “we”, “us” or “our”) has built a consumer-first platform transforming the way customers fulfill their health and wellness needs. We believe that the Company has the technical infrastructure, distributed provider network, and access to clinical capabilities to lead the migration of routine office visits to a personalized, digital, accessible format. The Hims & Hers platforms (collectively, our “platform”) include access to a highly-qualified and technologically-innovative provider network, an electronic medical record system designed to support providers and customers, digital prescriptions, cloud pharmacy fulfillment, and personalization capabilities.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 2.3B | 2.3B | 1.5B | 872M | 527M | 272M |
| Net Income | 128M | 128M | 126M | -24M | -66M | -108M |
| EPS | $0.51 | $0.51 | $0.53 | $-0.11 | $-0.32 | $-0.58 |
| Free Cash Flow | 57M | 57M | 198M | 47M | -34M | -39M |
| ROIC | 7.6% | 16.8% | 39.8% | -7.2% | -20.3% | -114.7% |
| Gross Margin | 73.8% | 73.8% | 79.5% | 13.5% | 77.6% | 75.2% |
| Debt/Equity | 2.07 | 2.07 | 0.02 | 0.03 | 0.02 | 0.02 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | 106M | 106M | 62M | -29M | -69M | -115M |
| Operating Margin | 4.5% | 4.5% | 4.2% | -3.4% | -13.0% | -42.3% |
| ROE | 23.7% | 25.2% | 30.7% | -7.2% | -20.3% | -114.7% |
| Shares Outstanding | 252M | 252M | 238M | 214M | 205M | 186M |
| Metric | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|
| Income Statement | ||||||||
| Revenue | 83M | 149M | 272M | 527M | 872M | 1.5B | 2.3B | 2.3B |
| Gross Margin | 54.0% | 73.6% | 75.2% | 77.6% | 13.5% | 79.5% | 73.8% | 73.8% |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 56M | 66M | 184M | 98M | 130M | 168M | 273M | 273M |
| EBIT | -74M | -15M | -115M | -69M | -29M | 62M | 106M | 106M |
| Op. Margin | -90.1% | -10.2% | -42.3% | -13.0% | -3.4% | 4.2% | 4.5% | 4.5% |
| Net Income | -72M | -18M | -108M | -66M | -24M | 126M | 128M | 128M |
| Net Margin | -87.3% | -12.2% | -39.6% | -12.5% | -2.7% | 8.5% | 5.5% | 5.5% |
| Non-Recurring | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Returns on Capital | ||||||||
| ROIC | -36.3% | -12.8% | -114.7% | -20.3% | -7.2% | 39.8% | 16.8% | 7.6% |
| ROE | 68.3% | 12.6% | -114.7% | -20.3% | -7.2% | 30.7% | 25.2% | 23.7% |
| ROA | -35.2% | -11.2% | -39.9% | -16.7% | -5.8% | 21.9% | 9.0% | 6.0% |
| Cash Flow | ||||||||
| Op. Cash Flow | -75M | -2.5M | -34M | -27M | 73M | 251M | 300M | 300M |
| Free Cash Flow | -76M | -5.0M | -39M | -34M | 47M | 198M | 57M | 57M |
| Owner Earnings | -83M | -9.4M | -106M | -77M | -2.1M | 142M | 110M | 110M |
| CapEx | 1.5M | 2.5M | 4.2M | 7.2M | 27M | 53M | 243M | 243M |
| Maint. CapEx | 260K | 1.1M | 4.1M | 7.5M | 9.5M | 17M | 55M | 55M |
| Growth CapEx | 1.2M | 1.4M | 100K | 0 | 17M | 36M | 188M | 188M |
| D&A | 260K | 1.1M | 4.1M | 7.5M | 9.5M | 17M | 55M | 55M |
| CapEx/OCF | N/A | N/A | N/A | N/A | 4.6% | 3.1% | 8.4% | 80.9% |
| Capital Allocation | ||||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 0 | 22M | 0 | 2.0M | 83M | 90M | 90M |
| Buyback Yield | N/A | N/A | 1.8% | N/A | 0.1% | 1.3% | 1.0% | 1.7% |
| Stock-Based Comp | 8.0M | 5.8M | 67M | 43M | 66M | 92M | 135M | 135M |
| Debt Repayment | 9.1M | 1.5M | 0 | 0 | 0 | 0 | 3.4M | 3.4M |
| Balance Sheet | ||||||||
| Net Debt | 626K | -100M | -242M | -174M | -211M | -289M | 541M | 889M |
| Cash & Equiv. | 1.5M | 27M | 72M | 47M | 97M | 221M | 229M | 229M |
| Long-Term Debt | 2.1M | 0 | 0 | 0 | 0 | 0 | 970M | 970M |
| Debt/Equity | -0.02 | 0.00 | 0.02 | 0.02 | 0.03 | 0.02 | 2.07 | 2.07 |
| Interest Coverage | -201.7 | -1514.4 | N/A | N/A | N/A | N/A | N/A | N/A |
| Equity | -140M | -147M | 335M | 312M | 344M | 477M | 541M | 541M |
| Total Assets | 205M | 119M | 421M | 366M | 441M | 708M | 2.2B | 2.2B |
| Total Liabilities | 345M | 16M | 86M | 55M | 97M | 231M | 1.6B | 1.6B |
| Intangibles | N/A | 59K | 26M | 22M | 19M | 43M | 196M | 196M |
| Retained Earnings | 1.1M | -171M | -279M | -345M | -368M | -242M | -114M | -114M |
| Working Capital | 678K | 98M | 191M | 169M | 177M | 174M | 363M | 363M |
| Current Assets | 1.7M | 113M | 270M | 217M | 265M | 396M | 768M | 768M |
| Current Liabilities | 979K | 15M | 79M | 48M | 88M | 221M | 404M | 404M |
| Per Share Data | ||||||||
| EPS | -2.07 | -0.51 | -0.58 | -0.32 | -0.11 | 0.53 | 0.51 | 0.51 |
| Owner EPS | -2.39 | -0.26 | -0.57 | -0.37 | -0.01 | 0.60 | 0.44 | 0.44 |
| Book Value | -4.02 | -4.14 | 1.80 | 1.52 | 1.61 | 2.00 | 2.15 | 2.15 |
| Cash Flow/Share | -2.15 | -0.07 | -0.19 | -0.13 | 0.34 | 1.06 | 1.19 | 0.73 |
| Dividends/Share | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 34.8M | 35.5M | 185.6M | 205.2M | 214.1M | 237.8M | 251.7M | 251.7M |
| Valuation | ||||||||
| P/E Ratio | N/A | N/A | N/A | N/A | N/A | 50.1 | 67.3 | 41.9 |
| P/FCF | N/A | N/A | N/A | N/A | 41.1 | 31.9 | 150.4 | 93.7 |
| EV/EBIT | N/A | N/A | N/A | N/A | N/A | 97.2 | 85.5 | 59.3 |
| Price/Book | N/A | N/A | 3.6 | 4.1 | 5.6 | 13.2 | 16.0 | 9.9 |
| Price/Sales | 4.2 | 14.3 | 7.6 | 2.0 | 2.0 | 2.8 | 4.7 | 2.3 |
| FCF Yield | -22.2% | -0.2% | -3.2% | -2.7% | 2.4% | 3.1% | 0.7% | 1.1% |
| Market Cap | 344M | 3.1B | 1.2B | 1.3B | 1.9B | 6.3B | 8.6B | 5.4B |
| Avg. Price | 9.87 | 10.36 | 11.13 | 5.25 | 8.34 | 17.64 | 44.18 | 21.36 |
| Year-End Price | 9.90 | 14.93 | 6.42 | 6.17 | 9.03 | 26.56 | 34.31 | 21.36 |
Hims & Hers Health, Inc. passes 2 of 9 quality checks, indicating weak fundamentals.
Hims & Hers Health, Inc. trades at 41.9x trailing earnings, compared to its 15-year median P/E of 58.7x, suggesting it is currently Cheap relative to its historical range. On a free-cash-flow basis, the stock trades at 17.1x vs a median of 36.5x. The company's 5-year average gross margin is 63.9%. Total shareholder yield (buybacks) is 1.7%. At current prices, the estimated annualized return to fair value is +111.7%.
Hims & Hers Health, Inc. (HIMS) has a current P/E ratio of 41.9, compared to its historical median P/E of 58.7. The stock is currently considered Cheap based on its historical valuation range.
Hims & Hers Health, Inc. (HIMS) has a 5-year average return on invested capital (ROIC) of -17.1%. This is below average and may indicate limited pricing power.
Hims & Hers Health, Inc. (HIMS) has a market capitalization of $5.4B. It is classified as a mid-cap stock.
Hims & Hers Health, Inc. (HIMS) does not currently pay a regular dividend. However, the company returns capital to shareholders through share buybacks, with a buyback yield of 1.67%.
Based on historical P/E analysis, Hims & Hers Health, Inc. (HIMS) appears cheap. The current P/E of 41.9 is 29% below its historical median of 58.7. The estimated fair value CAGR (P/E method) is 99.3%.
Hims & Hers Health, Inc. (HIMS) operates in the Services-Offices & Clinics Of Doctors Of Medicine industry, within the Healthcare sector.
Hims & Hers Health, Inc. (HIMS) reported annual revenue of $2.3 billion in its most recent fiscal year, based on SEC EDGAR filings.
Hims & Hers Health, Inc. (HIMS) has a net profit margin of 5.5%. This is a modest margin.
Hims & Hers Health, Inc. (HIMS) generated $57 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
Hims & Hers Health, Inc. (HIMS) has a debt-to-equity ratio of 2.07. This indicates higher leverage, which may increase financial risk.
Hims & Hers Health, Inc. (HIMS) reported earnings per share (EPS) of $0.51 in its most recent fiscal year.
Hims & Hers Health, Inc. (HIMS) has a return on equity (ROE) of 25.2%. This indicates the company generates strong returns for shareholders.
Hims & Hers Health, Inc. (HIMS) has a 5-year average gross margin of 63.9%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 7 years of financial data for Hims & Hers Health, Inc. (HIMS), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Hims & Hers Health, Inc. (HIMS) has a book value per share of $2.15, based on its most recent annual SEC filing.