Comprehensive Stock Comparison
Compare The Oncology Institute, Inc. (TOI) vs HCA Healthcare, Inc. (HCA) Stock
Analyze side-by-side fundamentals, valuation, growth, and profitability to decide which stock is the better buy.
Selected Stocks
Add up to 10 tickers. Use presets or search to get started.
Quick Verdict
| Category | Winner | Why |
|---|---|---|
| Growth |  TOI | 21.3% revenue growth vs HCA's 7.1% |
| Quality / Margins |  HCA | 9.0% net margin vs TOI's -14.4% |
| Stability / Safety | HCA | Beta 0.29 vs TOI's 1.56 |
| Dividends | HCA | 0.5% yield; 5-year raise streak; TOI pays no meaningful dividend |
| Momentum (1Y) | TOI | +332.8% vs HCA's +71.2% |
| Efficiency (ROA) | HCA | 11.2% ROA vs TOI's -40.5%, ROIC 19.9% vs -40.9% |
Who Each Stock Is For
Income & stability
HCADividend streak 5 yrs, beta 0.29, yield 0.5%
Growth exposure
TOIRev growth 21.3%, EPS growth 22.8%, 3Y rev CAGR 24.7%
Long-term compounding (10Y)
HCA6.7% 10Y total return vs TOI's -70.6%
Sleep-well-at-night portfolio
HCALower volatility, beta 0.29, current ratio 0.83x
Defensive / Recession hedge
HCABeta 0.29, yield 0.5%, current ratio 0.83x
Business Model
What each company does and how it makes money
The Oncology Institute operates a network of outpatient cancer care clinics providing comprehensive oncology services including chemotherapy, radiation, and clinical trial management. It generates revenue primarily from fee-for-service medical oncology treatments — with infusion services and physician consultations being major contributors — supplemented by clinical trial management fees. The company's competitive advantage lies in its integrated care model that combines clinical services with research capabilities across its 67 clinic locations, creating a scalable platform for community-based cancer care.
HCA Healthcare is one of the largest for-profit hospital operators in the United States, providing comprehensive medical and surgical services through its network of acute care hospitals and outpatient facilities. It generates revenue primarily from patient services — including inpatient hospital stays, outpatient procedures, and emergency care — with the vast majority coming from government programs like Medicare and Medicaid alongside private insurance reimbursements. The company's scale advantage — operating over 180 hospitals concentrated in high-growth markets — creates significant purchasing power with suppliers and negotiating leverage with payers.
Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
Financial Metrics Comparison
Side-by-side fundamentals across 2 stocks. BestLagging
Financial Scorecard
HCA 4TOI 1HCA5/6 metricsTOI2/2 metricsHCA5/7 metricsHCA5/6 metricsHCA2/2 metricsHCA leads in 4 of 6 categories (Financial Metrics, Profitability & Efficiency). TOI leads in 1 (Valuation Metrics).
Financial Metrics (TTM)
HCA is the larger business by revenue, generating $75.6B annually — 164.0x TOI's $461M. HCA is the more profitable business, keeping 9.0% of every revenue dollar as net income compared to TOI's -14.4%. On growth, TOI holds the edge at +36.7% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | TOIThe Oncology Inst… | HCAHCA Healthcare, I… |
|---|---|---|
| RevenueTrailing 12 months | $461M | $75.6B |
| EBITDAEarnings before interest/tax | -$34M | $15.5B |
| Net IncomeAfter-tax profit | -$66M | $6.8B |
| Free Cash FlowCash after capex | -$28M | $7.7B |
| Gross MarginGross profit ÷ Revenue | +14.8% | +41.5% |
| Operating MarginEBIT ÷ Revenue | -8.9% | +15.8% |
| Net MarginNet income ÷ Revenue | -14.4% | +9.0% |
| FCF MarginFCF ÷ Revenue | -6.0% | +10.2% |
| Rev. Growth (YoY)Latest quarter vs prior year | +36.7% | +6.7% |
| EPS Growth (YoY)Latest quarter vs prior year | +22.2% | +44.6% |
Valuation Metrics
| Metric | TOIThe Oncology Inst… | HCAHCA Healthcare, I… |
|---|---|---|
| Market CapShares × price | $216M | $121.7B |
| Enterprise ValueMkt cap + debt − cash | $289M | $170.9B |
| Trailing P/EPrice ÷ TTM EPS | -4.01x | 19.18x |
| Forward P/EPrice ÷ next-FY EPS est. | — | 17.99x |
| PEG RatioP/E ÷ EPS growth rate | — | 0.91x |
| EV / EBITDAEnterprise value multiple | — | 11.03x |
| Price / SalesMarket cap ÷ Revenue | 0.55x | 1.61x |
| Price / BookPrice ÷ Book value/share | 59.59x | — |
| Price / FCFMarket cap ÷ FCF | — | 15.83x |
Profitability & Efficiency
On the Piotroski fundamental quality scale (0–9), HCA scores 7/9 vs TOI's 3/9, reflecting strong financial health.
| Metric | TOIThe Oncology Inst… | HCAHCA Healthcare, I… |
|---|---|---|
| ROE (TTM)Return on equity | -2.1% | — |
| ROA (TTM)Return on assets | -40.5% | +11.2% |
| ROICReturn on invested capital | -40.9% | +19.9% |
| ROCEReturn on capital employed | -40.8% | +27.0% |
| Piotroski ScoreFundamental quality 0–9 | 3 | 7 |
| Debt / EquityFinancial leverage | 34.31x | — |
| Net DebtTotal debt minus cash | $73M | $49.2B |
| Cash & Equiv.Liquid assets | $50M | $1.0B |
| Total DebtShort + long-term debt | $123M | $50.2B |
| Interest CoverageEBIT ÷ Interest expense | -4.92x | 5.37x |
Total Returns (with DRIP)
A $10,000 investment in HCA five years ago would be worth $30,319 today (with dividends reinvested), compared to $2,794 for TOI. Over the past 12 months, TOI leads with a +332.8% total return vs HCA's +71.2%. The 3-year compound annual growth rate (CAGR) favors HCA at 29.9% vs TOI's 26.7% — a key indicator of consistent wealth creation.
| Metric | TOIThe Oncology Inst… | HCAHCA Healthcare, I… |
|---|---|---|
| YTD ReturnYear-to-date | -22.3% | +15.7% |
| 1-Year ReturnPast 12 months | +332.8% | +71.2% |
| 3-Year ReturnCumulative with dividends | +103.6% | +119.4% |
| 5-Year ReturnCumulative with dividends | -72.1% | +203.2% |
| 10-Year ReturnCumulative with dividends | -70.6% | +668.1% |
| CAGR (3Y)Annualised 3-year return | +26.7% | +29.9% |
Risk & Volatility
HCA is the less volatile stock with a 0.29 beta — it tends to amplify market swings less than TOI's 1.56 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. HCA currently trades 98.5% from its 52-week high vs TOI's 58.4% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | TOIThe Oncology Inst… | HCAHCA Healthcare, I… |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 1.56x | 0.29x |
| 52-Week HighHighest price in past year | $4.88 | $552.90 |
| 52-Week LowLowest price in past year | $0.60 | $310.18 |
| % of 52W HighCurrent price vs 52-week peak | +58.4% | +98.5% |
| RSI (14)Momentum oscillator 0–100 | 45.2 | 62.3 |
| Avg Volume (50D)Average daily shares traded | 1.7M | 1.0M |
Analyst Outlook
Wall Street rates TOI as "Buy" and HCA as "Buy". Consensus price targets imply 75.4% upside for TOI (target: $5) vs -3.8% for HCA (target: $524). HCA is the only dividend payer here at 0.54% yield — a key consideration for income-focused portfolios.
| Metric | TOIThe Oncology Inst… | HCAHCA Healthcare, I… |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy |
| Price TargetConsensus 12-month target | $5.00 | $523.92 |
| # AnalystsCovering analysts | 3 | 46 |
| Dividend YieldAnnual dividend ÷ price | — | +0.5% |
| Dividend StreakConsecutive years of raises | — | 5 |
| Dividend / ShareAnnual DPS | — | $2.94 |
| Buyback YieldShare repurchases ÷ mkt cap | 0.0% | +8.3% |
Historical Charts
Charts are rendered on first load. Hover for details.
Chart 1Total Return — 5 Years (Rebased to 100)
| Stock | Jun 20 | Mar 26 | Change |
|---|---|---|---|
| The Oncology Instit… (TOI) | 100 | 30.41 | -69.6% |
| HCA Healthcare, Inc. (HCA) | 100 | 543.35 | +443.4% |
HCA Healthcare, Inc. (HCA) returned +203% over 5 years vs The Oncology Instit… (TOI)'s -72%. A $10,000 investment in HCA 5 years ago would be worth $30,319 today (including dividends reinvested).
Chart 2Revenue Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| The Oncology Instit… (TOI) | $155M | $393M | +153.2% |
| HCA Healthcare, Inc. (HCA) | $41.5B | $75.6B | +82.2% |
HCA Healthcare, Inc.'s revenue grew from $41.5B (2016) to $75.6B (2025) — a 6.9% CAGR.
Chart 3Net Margin Trend — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| The Oncology Instit… (TOI) | -2.6% | -16.4% | -535.2% |
| HCA Healthcare, Inc. (HCA) | 7.0% | 9.0% | +28.8% |
HCA Healthcare, Inc.'s net margin went from 7% (2016) to 9% (2025).
Chart 4P/E Ratio History — 9 Years
| Stock | 2017 | 2025 | Change |
|---|---|---|---|
| HCA Healthcare, Inc. (HCA) | 14.8 | 16.5 | +11.5% |
HCA Healthcare, Inc. has traded in a 12x–17x P/E range over 9 years; current trailing P/E is ~19x.
Chart 5EPS Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| The Oncology Instit… (TOI) | -0.06 | -0.71 | -1037.8% |
| HCA Healthcare, Inc. (HCA) | 7.3 | 28.38 | +288.8% |
HCA Healthcare, Inc.'s EPS grew from $7.30 (2016) to $28.38 (2025) — a 16% CAGR.
Chart 6Free Cash Flow — 5 Years
The Oncology Institute, Inc. generated $-30M FCF in 2024 (+15% vs 2021). HCA Healthcare, Inc. generated $8B FCF in 2025 (+43% vs 2021).
TOI vs HCA: Frequently Asked Questions
8 questions · data-driven answers · updated daily
01Is TOI or HCA a better buy right now?
HCA Healthcare, Inc. (HCA) offers the better valuation at 19.2x trailing P/E (18.0x forward), making it the more compelling value choice. Analysts rate The Oncology Institute, Inc. (TOI) a "Buy" — based on 3 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which is the better long-term investment — TOI or HCA?
Over the past 5 years, HCA Healthcare, Inc. (HCA) delivered a total return of +203.2%, compared to -72.1% for The Oncology Institute, Inc. (TOI). A $10,000 investment in HCA five years ago would be worth approximately $30K today (assuming dividends reinvested). Over 10 years, the gap is even starker: HCA returned +668.1% versus TOI's -70.6%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
03Which is safer — TOI or HCA?
By beta (market sensitivity over 5 years), HCA Healthcare, Inc. (HCA) is the lower-risk stock at 0.29β versus The Oncology Institute, Inc.'s 1.56β — meaning TOI is approximately 432% more volatile than HCA relative to the S&P 500.
04Which has better profit margins — TOI or HCA?
HCA Healthcare, Inc. (HCA) is the more profitable company, earning 9.0% net margin versus -16.4% for The Oncology Institute, Inc. — meaning it keeps 9.0% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: HCA leads at 15.8% versus -15.3% for TOI. At the gross margin level — before operating expenses — HCA leads at 41.5%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
05Is TOI or HCA more undervalued right now?
Analyst consensus price targets imply the most upside for TOI: 75.4% to $5.00.
06Which pays a better dividend — TOI or HCA?
In this comparison, HCA (0.5% yield) pays a dividend. TOI does not pay a meaningful dividend and should not be held primarily for income.
07Is TOI or HCA better for a retirement portfolio?
For long-horizon retirement investors, HCA Healthcare, Inc. (HCA) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0.29), 0.5% yield, +668.1% 10Y return). The Oncology Institute, Inc. (TOI) carries a higher beta of 1.56 — meaning larger drawdowns in market downturns, which matters significantly when you cannot wait years for a recovery. Both have compounded well over 10 years (HCA: +668.1%, TOI: -70.6%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
08What are the main differences between TOI and HCA?
Both stocks operate in the Healthcare sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both. HCA pays a dividend while TOI does not, making them suitable for different income and tax situations. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
Find Stocks Like These
Explore pre-built screens for each stock's profile, or build a custom screen to find stocks that beat both.