WAY vs HIMS vs TDOC vs DOCS vs AMWL

For growth investors, Hims & Hers Health, Inc.

(HIMS) is the stronger pick with 59. 0% revenue growth year-over-year, versus -2. 0% for American Well Corporation (AMWL). Doximity, Inc. (DOCS) offers the better valuation at 20. 4x trailing P/E (14. 0x forward), making it the more compelling value choice. Analysts rate Waystar Holding Corp. (WAY) a "Buy" — based on 17 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.

On trailing P/E, Doximity, Inc.

(DOCS) is the cheapest at 20. 4x versus Hims & Hers Health, Inc. at 52. 6x. On forward P/E, Waystar Holding Corp. is actually cheaper at 11. 4x — notably different from the trailing picture, reflecting expected earnings growth.

Over the past 5 years, Hims & Hers Health, Inc.

(HIMS) delivered a total return of +107. 9%, compared to -96. 7% for American Well Corporation (AMWL). Over 10 years, the gap is even starker: HIMS returned +173. 7% versus AMWL's -98. 0%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.

By beta (market sensitivity over 5 years), Doximity, Inc.

(DOCS) is the lower-risk stock at 0. 75β versus Hims & Hers Health, Inc. 's 2. 48β — meaning HIMS is approximately 233% more volatile than DOCS relative to the S&P 500. On balance sheet safety, Doximity, Inc. (DOCS) carries a lower debt/equity ratio of 1% versus 2% for Hims & Hers Health, Inc. — giving it more financial flexibility in a downturn.

By revenue growth (latest reported year), Hims & Hers Health, Inc.

(HIMS) is pulling ahead at 59. 0% versus -2. 0% for American Well Corporation (AMWL). On earnings-per-share growth, the picture is similar: Waystar Holding Corp. grew EPS 569. 2% year-over-year, compared to -11. 7% for Doximity, Inc.. Over a 3-year CAGR, HIMS leads at 64. 5% annualised revenue growth. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.

Doximity, Inc.

(DOCS) is the more profitable company, earning 30. 4% net margin versus -38. 4% for American Well Corporation — meaning it keeps 30. 4% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: DOCS leads at 33. 3% versus -42. 2% for AMWL. At the gross margin level — before operating expenses — DOCS leads at 89. 1%, 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.

On forward earnings alone, Waystar Holding Corp.

(WAY) trades at 11. 4x forward P/E versus 14. 0x for Doximity, Inc. — 2. 6x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for WAY: 90. 0% to $35. 62.

None of the stocks in this comparison currently pay a material dividend.

All are effectively zero-yield and should be held for capital appreciation rather than income.

For long-horizon retirement investors, Doximity, Inc.

(DOCS) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0. 75)). Teladoc Health, Inc. (TDOC) carries a higher beta of 1. 85 — meaning larger drawdowns in market downturns, which matters significantly when you cannot wait years for a recovery. Both have compounded well over 10 years (DOCS: -62. 2%, TDOC: -41. 3%), 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.

These companies operate in different sectors (WAY (Technology) and HIMS (Healthcare) and TDOC (Healthcare) and DOCS (Healthcare) and AMWL (Healthcare)), which means they face different economic cycles, regulatory environments, and macro sensitivities — making direct comparison nuanced.

In terms of investment character: WAY is a small-cap high-growth stock; HIMS is a small-cap high-growth stock; TDOC is a small-cap quality compounder stock; DOCS is a small-cap quality compounder stock; AMWL is a small-cap quality compounder stock. 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.