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The Oncology Institute, Inc. (TOI) 10-Year Financial Performance & Capital Metrics

TOI • • Industrial / General
HealthcareHealthcare FacilitiesSpecialized Medical ServicesOncology & Cancer Care
AboutThe Oncology Institute, Inc., an oncology company, provides medical oncology services in the United States. Its services include physician services, in-house infusion and dispensary, clinical trial services, radiation, outpatient stem cell transplants and transfusions programs, and patient support. The company also offers and manages clinical trial services, such as managing clinical trials, palliative care programs, and stem cell transplants services. It serves adult and senior cancer patients. The company operates 67 clinic locations. The Oncology Institute, Inc. was founded in 2007 and is based in Cerritos, California.Show more
  • Revenue $393M +21.3%
  • EBITDA -$54M +24.3%
  • Net Income -$65M +22.2%
  • EPS (Diluted) -0.71 +22.8%
  • Gross Margin 13.73% -25.3%
  • EBITDA Margin -13.68% +37.6%
  • Operating Margin -15.28% +35.7%
  • Net Margin -16.44% +35.8%
  • ROE -213.36% -131.4%
  • ROIC -40.94% -27.8%
  • Debt/Equity 34.31 +1535.0%
  • Interest Coverage -8.02 +29.4%
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓Momentum leader: RS Rating 80 (top 20%)
  • ✓Strong 5Y sales CAGR of 20.4%
  • ✓Efficient asset utilization: 2.3x turnover

✗Weaknesses

  • ✗High debt to equity ratio of 34.3x
  • ✗Weak Piotroski F-Score: 3/9
  • ✗Negative free cash flow
  • ✗Low quality earnings: Net income not backed by cash flow
  • ✗Trading more than 30% below 52-week high
  • ✗Expensive at 70.3x book value

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-
5Y20.41%
3Y24.68%
TTM21.67%

Profit (Net Income) CAGR

10Y-
5Y-
3Y-
TTM5.63%

EPS CAGR

10Y-
5Y-
3Y-
TTM17.95%

ROCE

10Y Avg-31.35%
5Y Avg-36.47%
3Y Avg-39.69%
Latest-40.76%

Peer Comparison

Oncology & Cancer Care
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Sector-Specific
NameMarket CapCurrent PriceP/E RatioRevenue Growth 1YNet MarginROEFCF YieldDebt/Equity
TOIThe Oncology Institute, Inc.330.56M3.36-4.7321.33%-14.38%-213.36%34.31

Profit & Loss

Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Sales/Revenue+155.41M187.51M203M252.48M324.24M393.41M
Revenue Growth %-0.21%0.08%0.24%0.28%0.21%
Cost of Goods Sold+125.46M150.64M162.16M200.39M264.67M339.42M
COGS % of Revenue0.81%0.8%0.8%0.79%0.82%0.86%
Gross Profit+29.94M36.88M40.85M52.09M59.57M54M
Gross Margin %0.19%0.2%0.2%0.21%0.18%0.14%
Gross Profit Growth %-0.23%0.11%0.28%0.14%-0.09%
Operating Expenses+32.59M45.07M86.71M134.04M136.59M114.11M
OpEx % of Revenue0.21%0.24%0.43%0.53%0.42%0.29%
Selling, General & Admin29.64M41.9M0000
SG&A % of Revenue0.19%0.22%----
Research & Development000000
R&D % of Revenue------
Other Operating Expenses2.94M3.18M86.71M134.04M136.59M114.11M
Operating Income+-2.64M-8.2M-45.86M-81.95M-77.02M-60.12M
Operating Margin %-0.02%-0.04%-0.23%-0.32%-0.24%-0.15%
Operating Income Growth %--2.1%-4.6%-0.79%0.06%0.22%
EBITDA+297.11K-5.02M-42.52M-77.54M-71.14M-53.83M
EBITDA Margin %0%-0.03%-0.21%-0.31%-0.22%-0.14%
EBITDA Growth %--17.89%-7.47%-0.82%0.08%0.24%
D&A (Non-Cash Add-back)2.94M3.18M3.34M4.41M5.87M6.29M
EBIT-2.63M-14.47M-45.38M-72.01M-60.15M-60.12M
Net Interest Income+-3.38K-347K-320K-4.08M-6.78M-7.5M
Interest Income000000
Interest Expense3.38K347K320K4.08M6.78M7.5M
Other Income/Expense6.63K-6.62M34.26M81.86M-6.09M-4.54M
Pretax Income+-2.64M-14.81M-11.6M-91K-83.1M-64.66M
Pretax Margin %-0.02%-0.08%-0.06%-0%-0.26%-0.16%
Income Tax+1.38M-492.82K-671K-243K-36K0
Effective Tax Rate %1.52%0.97%0.94%-1.67%1%1%
Net Income+-4.02M-14.32M-10.93M152K-83.07M-64.66M
Net Margin %-0.03%-0.08%-0.05%0%-0.26%-0.16%
Net Income Growth %--2.56%0.24%1.01%-547.5%0.22%
Net Income (Continuing)-4.02M-14.32M-10.93M152K-83.07M-64.66M
Discontinued Operations000000
Minority Interest000000
EPS (Diluted)+-0.06-0.24-0.16-0.21-0.92-0.71
EPS Growth %--2.85%0.33%-0.31%-3.38%0.23%
EPS (Basic)-0.06-0.24-0.160.00-0.92-0.71
Diluted Shares Outstanding64.45M59.12M66.23M80.61M73.75M75.04M
Basic Shares Outstanding64.45M59.12M66.23M72.79M73.75M75.04M
Dividend Payout Ratio------

Balance Sheet

Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Total Current Assets+21.79M29.72M154.06M130.42M143.49M112.42M
Cash & Short-Term Investments2.45M6M114.3M73.81M82.86M49.67M
Cash Only2.45M6M114.3M14.01M33.49M49.67M
Short-Term Investments00059.8M49.37M0
Accounts Receivable14.73M17.26M21.24M40.43M42.91M48.68M
Days Sales Outstanding34.6133.5938.258.4548.3145.17
Inventory3.89M4.35M6.44M9.26M13.68M10.04M
Days Inventory Outstanding11.3110.5514.4916.8718.8610.8
Other Current Assets00875K004.03M
Total Non-Current Assets+37.73M35.97M49.38M131.25M65.75M60.3M
Property, Plant & Equipment1.55M2.1M4.19M33.04M40.05M37.67M
Fixed Asset Turnover100.20x89.12x48.43x7.64x8.10x10.44x
Goodwill14.08M14.23M26.63M21.42M7.23M7.23M
Intangible Assets22M19.52M18.25M17.96M17.9M14.81M
Long-Term Investments00-371K58.35M00
Other Non-Current Assets97.85K122K320K477K561K589K
Total Assets+59.52M65.69M203.44M261.67M209.24M172.72M
Asset Turnover2.61x2.85x1.00x0.96x1.55x2.28x
Asset Growth %-0.1%2.1%0.29%-0.2%-0.17%
Total Current Liabilities+13.59M28.61M29.8M29.72M34.79M52.22M
Accounts Payable8.89M12.64M15.56M9.37M14.43M24.32M
Days Payables Outstanding25.8530.6335.0217.0719.926.16
Short-Term Debt05.37M183K000
Deferred Revenue (Current)01000K592K1000K545K1000K
Other Current Liabilities0-3.38M10.14M9.35M11.32M10.35M
Current Ratio1.60x1.04x5.17x4.39x4.12x2.15x
Quick Ratio1.32x0.89x4.95x4.08x3.73x1.96x
Cash Conversion Cycle20.0713.5117.6758.2547.2729.8
Total Non-Current Liabilities+3.71M8.98M69.48M108.77M117.43M116.91M
Long-Term Debt06.56M080.62M86.83M93.13M
Capital Lease Obligations00022.06M26.49M23.22M
Deferred Tax Liabilities2.96M1.61M371K108K32K32K
Other Non-Current Liabilities756.42K807K69.11M5.98M4.08M527K
Total Liabilities17.3M37.59M99.28M138.49M152.22M169.13M
Total Debt+011.93M183K108.18M119.67M123.15M
Net Debt-2.45M5.93M-114.12M94.17M86.19M73.48M
Debt / Equity-0.42x0.00x0.88x2.10x34.31x
Debt / EBITDA------
Net Debt / EBITDA-8.23x-----
Interest Coverage-783.63x-23.62x-143.31x-20.08x-11.36x-8.02x
Total Equity+42.22M28.1M104.16M123.17M57.02M3.59M
Equity Growth %--0.33%2.71%0.18%-0.54%-0.94%
Book Value per Share0.660.481.571.530.770.05
Total Shareholders' Equity42.22M28.1M104.16M123.17M57.02M3.59M
Common Stock06K7K7K8K8K
Retained Earnings-6.02M-52.31M-63.23M-63.08M-146.15M-210.81M
Treasury Stock0000-1.02M-1.02M
Accumulated OCI000000
Minority Interest000000

Cash Flow

Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Cash from Operations+3.62M508K-32.68M-61.76M-36.31M-26.54M
Operating CF Margin %0.02%0%-0.16%-0.24%-0.11%-0.07%
Operating CF Growth %--0.86%-65.33%-0.89%0.41%0.27%
Net Income-4.02M-14.32M-10.93M152K-83.07M-53.01M
Depreciation & Amortization2.94M3.18M3.34M4.41M5.87M6.29M
Stock-Based Compensation94.01K151K24.54M27.68M17.81M0
Deferred Taxes824.76K-1.34M-1.24M-263K-76K0
Other Non-Cash Items326.93K11.85M-33.9M-73.2M20.79M2.12M
Working Capital Changes3.45M992K-14.49M-20.54M2.36M18.06M
Change in Receivables-4.44M-6.76M-2.99M-19.66M-4.5M-5.77M
Change in Inventory-1.13M-465K-1.84M-1.73M-4.38M3.64M
Change in Payables5.53M3.76M2.92M-6.19M5.06M9.21M
Cash from Investing+-1.2M-8.84M-12.15M-131.61M62.64M46.21M
Capital Expenditures-1.2M-1.19M-2.85M-5.53M-4.57M-3.79M
CapEx % of Revenue0.01%0.01%0.01%0.02%0.01%0.01%
Acquisitions------
Investments------
Other Investing0-7.5M-200K000
Cash from Financing+-1.81K11.89M154.01M92.21M-6.85M-3.49M
Debt Issued (Net)------
Equity Issued (Net)------
Dividends Paid000000
Share Repurchases------
Other Financing0-293K141.26M-8.74M-5.73M-3.53M
Net Change in Cash------
Free Cash Flow+2.41M-686K-35.73M-67.28M-40.88M-30.33M
FCF Margin %0.02%-0%-0.18%-0.27%-0.13%-0.08%
FCF Growth %--1.28%-51.08%-0.88%0.39%0.26%
FCF per Share0.04-0.01-0.54-0.83-0.55-0.40
FCF Conversion (FCF/Net Income)-0.90x-0.04x2.99x-406.29x0.44x0.41x
Interest Paid3.38K227K275K224K4.51M0
Taxes Paid61.27K207K1.73M150K403K0

Key Ratios

Metric201920202021202220232024
Return on Equity (ROE)-9.52%-40.73%-16.52%0.13%-92.2%-213.36%
Return on Invested Capital (ROIC)-4.99%-16.66%-285.72%-59.27%-32.04%-40.94%
Gross Margin19.27%19.67%20.12%20.63%18.37%13.73%
Net Margin-2.59%-7.64%-5.38%0.06%-25.62%-16.44%
Debt / Equity-0.42x0.00x0.88x2.10x34.31x
Interest Coverage-783.63x-23.62x-143.31x-20.08x-11.36x-8.02x
FCF Conversion-0.90x-0.04x2.99x-406.29x0.44x0.41x
Revenue Growth-20.66%8.26%24.37%28.42%21.33%

Revenue by Segment

2021202220232024
Health Care, Patient Service124.07M166.78M213.5M204.88M
Health Care, Patient Service Growth-34.42%28.01%-4.04%
Dispensary Revenue72.55M79.34M103.83M179.92M
Dispensary Revenue Growth-9.36%30.87%73.27%
Fee For Service69.79M105.44M143.13M136.2M
Fee For Service Growth-51.09%35.74%-4.85%
Capitated Revenue54.28M61.34M70.37M68.69M
Capitated Revenue Growth-13.00%14.72%-2.39%
Clinical Research Trials And Other Revenue6.38M6.36M6.9M8.61M
Clinical Research Trials And Other Revenue Growth--0.38%8.58%24.83%

Frequently Asked Questions

Growth & Financials

The Oncology Institute, Inc. (TOI) reported $461.0M in revenue for fiscal year 2024. This represents a 197% increase from $155.4M in 2019.

The Oncology Institute, Inc. (TOI) grew revenue by 21.3% over the past year. This is strong growth.

The Oncology Institute, Inc. (TOI) reported a net loss of $66.3M for fiscal year 2024.

Dividend & Returns

The Oncology Institute, Inc. (TOI) has a return on equity (ROE) of -213.4%. Negative ROE indicates the company is unprofitable.

The Oncology Institute, Inc. (TOI) had negative free cash flow of $27.5M in fiscal year 2024, likely due to heavy capital investments.

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