The company maintains a conservative capital structure with a debt-to-equity ratio of 0.26 as of 2026Q1, supported by a cash position that has grown to $4.8 billion.
| Total Current Assets | 7.78B | 4.61B | 2.85B | 2.07B | 4.12B | 2.77B | 0 | 0 |
| Cash & Short-Term Investments | 6.8B | 3.99B | 2.15B | 2.56B | 2.96B | 1.69B | 1.19B | 670.4M |
| Cash Only | 4.81B | 2.77B | 1.53B | 1.87B | 1.56B | 1.1B | 826.33M | 336.64M |
| Short-Term Investments | 1.99B | 1.22B | 624.46M | 689.83M | 1.4B | 587.09M | 366.39M | 333.75M |
| Accounts Receivable | - | - | - | - | - | - | - | - |
| Days Sales Outstanding | - | - | - | - | - | - | - | - |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - | - | - | - | - |
| Other Current Assets | 390.5M | 180.15M | 377.64M | -982.95M | 1.12B | 463.86M | -1.29B | -725.59M |
| Total Non-Current Assets | 1.51B | 1.71B | 2B | 1.53B | 405.05M | 555.65M | 0 | 0 |
| Property, Plant & Equipment | 94.19M | 88.35M | 66.79M | 61.93M | 59.89M | 46.61M | 35.81M | 33.08M |
| Fixed Asset Turnover | 154.84x | 132.44x | 137.40x | 94.67x | 68.89x | 41.21x | 16.46x | 16.74x |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 6.34B | 1.47B | 1.82B | 365.31M | 1.4B | 844.48M | 366.39M | 333.75M |
| Other Non-Current Assets | - | - | - | - | - | - | - | - |
| Total Assets | 9.29B | 6.33B | 4.84B | 3.6B | 4.53B | 3.32B | 2.27B | 1.35B |
| Asset Turnover | 1.92x | 1.85x | 1.90x | 1.63x | 0.91x | 0.58x | 0.26x | 0.41x |
| Asset Growth % | 145.34% | 30.68% | 34.4% | -20.44% | 36.28% | 46.19% | 68.69% | - |
| Total Current Liabilities | 7.14B | 4.86B | 3.17B | -175.28M | 3.26B | 1.62B | 0 | 0 |
| Accounts Payable | -142.49M | -99.75M | 1.4B | 1.03B | 1.37B | 718.81M | 655.23M | 589.07M |
| Days Payables Outstanding | - | - | - | - | - | - | - | - |
| Short-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Revenue (Current) | 0 | - | - | - | - | - | - | - |
| Other Current Liabilities | 7.28B | 4.96B | 215.28M | -2.26B | 381.05M | 29.25M | -1.37B | -887.7M |
| Current Ratio | 1.09x | 0.95x | 0.90x | - | 1.26x | 1.71x | - | - |
| Quick Ratio | 1.09x | 0.95x | 0.90x | - | 1.26x | 1.71x | - | - |
| Cash Conversion Cycle | - | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 482.24M | 482.09M | 360.84M | 2.97B | 370.28M | 2.29B | 0 | 0 |
| Long-Term Debt | 430.88M | 430.1M | 299.56M | 298.78M | 298M | 0 | 142.49M | 0 |
| Capital Lease Obligations | 0 | - | - | - | - | - | - | - |
| Deferred Tax Liabilities | 0 | - | - | - | - | - | - | - |
| Other Non-Current Liabilities | - | - | - | - | - | - | - | - |
| Total Liabilities | 7.62B | 5.34B | 3.82B | 2.8B | 3.63B | 1.93B | 3.57B | 2.29B |
| Total Debt | 430.88M | 430.1M | 299.56M | 298.78M | 298M | 0 | 142.49M | 0 |
| Net Debt | -4.37B | -2.34B | -1.23B | -1.57B | -1.26B | -1.1B | -683.84M | -336.64M |
| Debt / Equity | 0.26x | 0.44x | 0.29x | 0.37x | 0.33x | - | - | - |
| Debt / EBITDA | 10.83x | - | 3.35x | - | - | - | - | - |
| Net Debt / EBITDA | -109.95x | - | -13.73x | - | - | - | - | - |
| Interest Coverage | -0.57x | -23.85x | 2.41x | -9.86x | -25.97x | -119.89x | -114.48x | - |
| Total Equity | 1.67B | 980.74M | 1.02B | 806.12M | 892.4M | 1.39B | -1.3B | -945.14M |
| Equity Growth % | 11.21% | -3.51% | 26.09% | -9.67% | -35.91% | 207.46% | -37.11% | - |
| Book Value per Share | 5.06 | 3.74 | 3.82 | 3.64 | 4.20 | 7.78 | -5.42 | -3.95 |
| Total Shareholders' Equity | 1.66B | 977.65M | 1.01B | 803.97M | 890.38M | 1.39B | -1.3B | -945.14M |
| Common Stock | 3K | 3K | 2K | 2K | 2K | 2K | 2K | 2K |
| Retained Earnings | -2.62B | -3.29B | -2.85B | -2.88B | -2.61B | -2B | -1.43B | -1.01B |
| Treasury Stock | -2.92M | -2.92M | -2.92M | -2.92M | -2.92M | -2.92M | -2.92M | -2.92M |
| Accumulated OCI | 5M | 18.03M | -1.83M | 1.31M | -9.71M | -3.67M | 879K | -27K |
| Minority Interest | 3.11M | 3.09M | 2.84M | 2.15M | 2.02M | 5.29M | 0 | 0 |
Regulatory ACA Subsidy Exposure
According to recent balance sheet data, Oscar Health's total assets surged to $9.3 billion in 2026Q1 from $3.6 billion in 2023Q4, signaling a rapid expansion of the company's financial footprint as it captures significant market share within the Individual and Family exchange segments.
The substantial growth in total assets appears to be driven by the accumulation of cash and premium receivables associated with increased enrollment. This trajectory suggests that the company is successfully scaling its operations, though investors should monitor whether this asset growth remains commensurate with long-term medical loss ratio stability.
As reported in financial statements, Oscar's cash position reached $4.8 billion in 2026Q1, providing a substantial liquidity buffer that has more than doubled from the $1.9 billion reported in 2023Q4, significantly enhancing the company's ability to navigate seasonal fluctuations in medical claims and premium collections.
The current liquidity profile appears robust, with a current ratio of 1.09 indicating that the company is well-positioned to meet its short-term obligations. This cash accumulation may provide the necessary flexibility to fund future growth initiatives or absorb potential volatility in government subsidy payments.
Based on the provided figures, Oscar maintains a conservative capital structure with a debt-to-equity ratio of 0.26 in 2026Q1, which represents a notable improvement from the 0.44 ratio observed in 2025Q4, suggesting that management is prioritizing balance sheet health during this period of rapid expansion.
The relatively low debt load implies that the company is not overly reliant on external financing to sustain its current growth trajectory. This conservative approach to leverage may provide a strategic advantage, allowing the company to maintain operational agility without the burden of significant interest expenses.
As indicated by the 2026Q1 balance sheet, equity has expanded to $1.7 billion, a significant recovery from the $804 million reported in 2023Q4, reflecting the positive impact of recent earnings on the company's retained earnings and overall shareholder value.
The improvement in equity quality appears to be a direct result of the company's recent shift toward GAAP profitability. While retained earnings remain negative, the narrowing of this deficit suggests that the business model is reaching a point of maturity where operational gains are beginning to strengthen the capital base.
Based on an analysis of the balance sheet, the company's reliance on large swings in working capital, particularly in cash and liabilities, warrants caution as these figures may be heavily influenced by the timing of government risk adjustment true-ups rather than underlying operational performance.
Investors should be aware that the headline liquidity and asset figures are subject to significant seasonal distortion due to the nature of the insurance cycle. This suggests that the balance sheet's apparent strength may be partially contingent on the timing of cash inflows from CMS, which could introduce volatility if regulatory environments shift.
Quick answers to the most common questions about buying OSCR stock.
As of 2025, Oscar Health, Inc. (OSCR) had total assets of $6.33B including $4.61B in current assets.
Oscar Health, Inc. (OSCR) carries total debt of $430.1M, offset by $3.99B in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Oscar Health, Inc. (OSCR) has total shareholders' equity (book value) of $977.6M ($3.74 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Oscar Health, Inc. (OSCR) reported a current ratio of 0.95x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.