The company maintains a $1.0 billion debt load against negative retained earnings of $16.5 billion, indicating a capital structure heavily reliant on external financing.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 |
|---|
| Total Current Assets | 1.13B | 1.09B | 1.66B | 1.49B | 1.29B | 1.23B | 1.06B | 588M | 532.74M | 156.24M | 82.72M | 151.58M | 54.66M | 6.83M |
| Cash & Short-Term Investments | 750.74M | 781.08M | 1.3B | 1.12B | 918.18M | 896.02M | 786.57M | 517.06M | 478.53M | 122.31M | 65.81M | 137.35M | 46.44M | 3.21M |
| Cash Only | 750.74M | 781.08M | 1.3B | 1.12B | 918.18M | 893.48M | 733.32M | 514.35M | 423.99M | 42.82M | 50.02M | 55.07M | 46.44M | 3.21M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 2.54M | 53.24M | 2.71M | 54.55M | 79.49M | 15.79M | 82.28M | 0 | 0 |
| Accounts Receivable | 213.63M | 201.66M | 223.96M | 230.06M | 235.65M | 190.12M | 169.28M | 56.95M | 43.57M | 27.09M | 13.81M | 12.13M | 7.09M | 2.86M |
| Days Sales Outstanding | 31.53 | 29.09 | 31.81 | 32.27 | 35.74 | 34.14 | 56.48 | 37.57 | 38.05 | 42.39 | 40.92 | 57.23 | 59.47 | 52.5 |
| Inventory | 31.56M | 38.2M | 38.14M | 29.51M | 56.34M | 73.08M | 56.5M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | 15.6 | 18.07 | 18.53 | 14.17 | 27.64 | 41.02 | 52.76 | - | - | - | - | - | - | - |
| Other Current Assets | 136.42M | 2.07M | 36.02M | 40.15M | 12.1M | 27.96M | 0 | 0 | 10.63M | 6.84M | 0 | 2.1M | 0 | 8K |
| Total Non-Current Assets | 1.67B | 2.01B | 1.85B | 2.9B | 3.42B | 16.51B | 16.7B | 1.01B | 996.14M | 668.15M | 220.95M | 78.16M | 37.34M | 20.56M |
| Property, Plant & Equipment | 50.51M | 53.09M | 56.58M | 72.09M | 71.47M | 74.01M | 75.2M | 36.75M | 10.15M | 8.96M | 7.48M | 6.26M | 1.06M | 331K |
| Fixed Asset Turnover | 46.55x | 47.65x | 45.42x | 36.10x | 33.68x | 27.46x | 14.55x | 15.06x | 41.18x | 26.03x | 16.47x | 12.36x | 40.87x | 60.14x |
| Goodwill | 283.19M | 283.19M | 283.19M | 1.07B | 1.07B | 14.5B | 14.58B | 746.08M | 737.2M | 498.52M | 188.18M | 56.34M | 28.45M | 14.79M |
| Intangible Assets | 1.24B | 1.3B | 1.43B | 1.68B | 1.84B | 1.91B | 2.02B | 225.45M | 247.39M | 159.81M | 24.88M | 15.27M | 7.53M | 5.35M |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 94.01M | 49.4M | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 106.04M | 137.62M | 81.49M | 80.26M | 78.5M | 20.7M | 18.36M | 6.54M | 1.4M | 858K | 415K | 293K | 296K | 93K |
| Total Assets | 2.81B | 3.1B | 3.52B | 4.39B | 4.7B | 17.73B | 17.76B | 1.6B | 1.53B | 824.39M | 303.67M | 229.74M | 92.01M | 27.39M |
| Asset Turnover | 0.86x | 0.82x | 0.73x | 0.59x | 0.51x | 0.11x | 0.06x | 0.35x | 0.27x | 0.28x | 0.41x | 0.34x | 0.47x | 0.73x |
| Asset Growth % | -66.61% | -11.82% | -19.94% | -6.56% | -73.49% | -0.12% | 1007.75% | 4.84% | 85.46% | 171.48% | 32.18% | 149.7% | 235.96% | - |
| Total Current Liabilities | 404.87M | 404.74M | 941.53M | 420.62M | 399.77M | 331.01M | 332.65M | 90.18M | 62.44M | 40.33M | 21.07M | 17.99M | 13.02M | 5.14M |
| Accounts Payable | 45.2M | 47.97M | 33.13M | 43.64M | 47.69M | 47.26M | 46.03M | 9.07M | 7.77M | 3.88M | 2.24M | 2.21M | 2.21M | 67K |
| Days Payables Outstanding | 21.09 | 22.69 | 16.1 | 20.96 | 23.4 | 26.53 | 42.99 | 17.96 | 22.03 | 23.01 | 25.53 | 38.39 | 81.24 | 5.84 |
| Short-Term Debt | 0 | 11.04M | 550.72M | 0 | 13.59M | 0 | 42.56M | 0 | 0 | 0 | 2M | 1.25M | 833K | 0 |
| Deferred Revenue (Current) | 272.86M | 62.3M | 79.3M | 95.66M | 101.83M | 75.57M | 52.36M | 12.46M | 7.65M | 4.11M | 1M | 831K | 5.44M | 0 |
| Other Current Liabilities | 233.29M | 187.17M | 69.33M | 167.26M | 151.28M | 132.21M | 128.92M | 39.26M | 16.54M | 12.05M | 5.93M | 5.52M | 6.62M | 3.27M |
| Current Ratio | 2.80x | 2.69x | 1.77x | 3.54x | 3.22x | 3.70x | 3.19x | 6.52x | 8.53x | 3.87x | 3.93x | 8.43x | 4.20x | 1.33x |
| Quick Ratio | 2.72x | 2.59x | 1.73x | 3.47x | 3.07x | 3.48x | 3.02x | 6.52x | 8.53x | 3.87x | 3.93x | 8.43x | 4.20x | 1.33x |
| Cash Conversion Cycle | 26.04 | 24.47 | 34.25 | 25.48 | 39.98 | 48.63 | 66.26 | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 1.07B | 1.31B | 1.08B | 1.65B | 1.99B | 1.36B | 1.54B | 498.62M | 453.32M | 225.16M | 51.73M | 33.19M | 25.75M | 3.19M |
| Long-Term Debt | 995.81M | 994.92M | 991.42M | 1.54B | 1.54B | 1.23B | 1.38B | 440.41M | 414.68M | 207.37M | 42.42M | 25.23M | 25.2M | 3M |
| Capital Lease Obligations | 135.79M | 34.2M | 32.13M | 42.84M | 38.04M | 41.77M | 43.14M | 24.99M | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 363.06M | 271.44M | 49.85M | 49.45M | 406.54M | 75.78M | 102.1M | 21.68M | 32.44M | 12.91M | 1.69M | 1.19M | 494K | 102K |
| Other Non-Current Liabilities | 551K | 643K | 720K | 1.08M | 1.62M | 10.78M | 11.54M | 9.24M | 6.19M | 17.79M | 7.61M | 6.78M | 62K | 88K |
| Total Liabilities | 1.47B | 1.72B | 2.03B | 2.07B | 2.39B | 1.69B | 1.87B | 588.8M | 515.76M | 265.49M | 72.8M | 51.17M | 38.78M | 8.33M |
| Total Debt | 1.03B | 1.04B | 1.58B | 1.59B | 1.59B | 1.28B | 1.48B | 470.49M | 414.68M | 207.37M | 44.42M | 26.48M | 26.03M | 3M |
| Net Debt | 276.81M | 259.08M | 286.29M | 468.6M | 668.74M | 386.65M | 743.41M | -43.86M | -9.31M | 164.55M | -5.59M | -28.59M | -20.41M | -212K |
| Debt / Equity | 0.77x | 0.75x | 1.06x | 0.68x | 0.69x | 0.08x | 0.09x | 0.46x | 0.41x | 0.37x | 0.19x | 0.15x | 0.49x | 0.16x |
| Debt / EBITDA | 24.40x | 10.38x | - | 286.33x | - | - | - | - | - | - | - | - | - | - |
| Net Debt / EBITDA | 6.57x | 2.59x | - | 84.27x | - | - | - | - | - | - | - | - | - | - |
| Interest Coverage | -8.76x | -10.95x | -8.77x | -9.45x | -9.91x | -2.95x | -6.98x | -2.51x | -2.53x | -3.56x | -20.30x | -23.65x | -9.69x | -101.23x |
| Total Equity | 1.34B | 1.39B | 1.49B | 2.33B | 2.31B | 16.05B | 15.88B | 1.01B | 1.01B | 558.9M | 230.87M | 178.56M | 53.23M | 19.05M |
| Equity Growth % | -26.41% | -7.07% | -35.9% | 0.79% | -85.62% | 1.02% | 1466.41% | 0.09% | 81.27% | 142.09% | 29.29% | 235.45% | 179.35% | - |
| Book Value per Share | 7.46 | 7.86 | 8.74 | 14.13 | 14.29 | 102.24 | 175.49 | 14.11 | 15.39 | 10.08 | 5.45 | 8.97 | 1.93 | 0.69 |
| Total Shareholders' Equity | 1.34B | 1.39B | 1.49B | 2.33B | 2.31B | 16.05B | 15.88B | 1.01B | 1.01B | 558.9M | 230.87M | 178.56M | 53.23M | 19.05M |
| Common Stock | 180K | 178K | 173K | 167K | 163K | 160K | 150K | 73K | 70K | 61K | 46K | 38K | 27K | 2.85M |
| Retained Earnings | -16.49B | -16.43B | -16.23B | -15.23B | -15.01B | -1.42B | -992.66M | -507.52M | -408.66M | -311.58M | -204.73M | -130.51M | -72.49M | -55.45M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -35.42M | -34.73M | -38.39M | -36.99M | -42.78M | -6.29M | 18.52M | -17.24M | -13.07M | 4.09M | -1K | -42K | -1.26M | -927K |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Persistent Goodwill Impairment Risk
As reported in recent financial filings, TDOC's total assets have declined from $4.4 billion in 2023Q4 to $2.8 billion in 2026Q1, reflecting a significant contraction in the company's resource base as it struggles to navigate a challenging competitive environment and persistent operational losses.
The consistent decline in total assets suggests that the company is shedding value, likely driven by the ongoing impairment of historical acquisitions. Investors should monitor whether this downward trajectory in asset value stabilizes or if further write-downs are required to align the balance sheet with current market realities.
Based on the provided quarterly data, TDOC has maintained a debt load of $1.0 billion as of 2026Q1, which, when viewed against the backdrop of negative retained earnings of $16.5 billion, suggests a capital structure that is heavily reliant on external financing to sustain operations.
While the debt-to-equity ratio has fluctuated, the persistent reliance on debt in the absence of positive net income indicates that the company's leverage is necessity-driven rather than strategic. This structure warrants further investigation into the company's ability to service these obligations if cash flow generation continues to deteriorate.
According to the latest balance sheet figures, the company's cash position has decreased from $1.3 billion in 2024Q4 to $750.7 million in 2026Q1, signaling a tightening liquidity buffer that may limit management's flexibility to pivot or invest in new growth initiatives.
The current ratio of 2.80 appears healthy on the surface, but the rapid depletion of cash reserves suggests that the company is burning through its liquidity to fund ongoing operating losses. This trend may indicate that the company will face increased pressure to secure additional funding or drastically reduce costs.
As reported in financial statements, the massive reduction in goodwill from $1.1 billion in 2023Q4 to $283.2 million in 2026Q1 highlights the significant destruction of shareholder value associated with past M&A activity, which continues to distort the company's headline book value and equity quality.
The substantial write-downs suggest that the company's historical capital allocation strategy was fundamentally flawed, leading to an overstatement of assets in prior periods. Investors should be cautious, as the remaining goodwill may still be subject to further impairment if the current business model fails to achieve profitability.
Quick answers to the most common questions about buying TDOC stock.
As of 2025, Teladoc Health, Inc. (TDOC) had total assets of $3.10B including $1.09B in current assets.
Teladoc Health, Inc. (TDOC) carries total debt of $1.04B, offset by $781.1M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Teladoc Health, Inc. (TDOC) has total shareholders' equity (book value) of $1.39B ($7.86 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Teladoc Health, Inc. (TDOC) reported a current ratio of 2.69x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.