1Life Healthcare (NasdaqGS:ONEM) - Share price, News & Analysis

ONEM fundamental analysis
Snowflake Score
Valuation	1/6
Future Growth	2/6
Past Performance	0/6
Financial Health	4/6
Dividends	0/6

ONEM Stock Overview

1Life Healthcare, Inc. operates a membership-based primary care platform under the One Medical brand.

Rewards

Revenue is forecast to grow 21.9% per year

Risk Analysis

Highly volatile share price over the past 3 months

Currently unprofitable and not forecast to become profitable over the next 3 years

Shareholders have been diluted in the past year

1Life Healthcare Competitors

AMN Healthcare Services

NYSE:AMN

US$5.1b

Oak Street Health

NYSE:OSH

US$7.3b

Guardant Health

NasdaqGS:GH

US$5.4b

Apollo Medical Holdings

NasdaqCM:AMEH

US$2.4b

Price History & Performance

Summary of all time highs, changes and price drops for 1Life Healthcare
Historical stock prices
Current Share Price	US$16.96
52 Week High	US$27.92
52 Week Low	US$5.94
Beta	2.52
1 Month Change	46.84%
3 Month Change	152.01%
1 Year Change	-40.82%
3 Year Change	n/a
5 Year Change	n/a
Change since IPO	-23.15%

Shareholder Returns

	ONEM	US Healthcare	US Market
7D	0.1%	0.6%	1.0%
1Y	-40.8%	12.6%	-12.9%

Return vs Industry: ONEM underperformed the US Healthcare industry which returned 12.6% over the past year.

Return vs Market: ONEM underperformed the US Market which returned -12.9% over the past year.

Price Volatility

Is ONEM's price volatile compared to industry and market?
ONEM volatility
ONEM Average Weekly Movement	24.5%
Healthcare Industry Average Movement	9.6%
Market Average Movement	7.9%
10% most volatile stocks in US Market	17.2%
10% least volatile stocks in US Market	3.2%

Stable Share Price: ONEM is more volatile than 90% of US stocks over the past 3 months, typically moving +/- 25% a week.

Volatility Over Time: ONEM's weekly volatility has increased from 16% to 25% over the past year.

About the Company

Founded	Employees	CEO	Website
2002	3,090	Amir Rubin	https://www.onemedical.com

1Life Healthcare, Inc. operates a membership-based primary care platform under the One Medical brand. The company has developed a healthcare membership model based on direct consumer enrollment, as well as third-party sponsorship. Its membership model includes seamless access to 24/7 digital health services paired with inviting in-office care routinely covered under health insurance programs.

1Life Healthcare Fundamentals Summary

How do 1Life Healthcare's earnings and revenue compare to its market cap?
ONEM fundamental statistics
Market Cap	US$3.31b
Earnings (TTM)	-US$358.70m
Revenue (TTM)	US$891.49m

3.7x

P/S Ratio

-9.2x

P/E Ratio

Is ONEM overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
ONEM income statement (TTM)
Revenue	US$891.49m
Cost of Revenue	US$719.36m
Gross Profit	US$172.13m
Other Expenses	US$530.83m
Earnings	-US$358.70m

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

n/a

Earnings per share (EPS)	-1.84
Gross Margin	19.31%
Net Profit Margin	-40.24%
Debt/Equity Ratio	19.1%

How did ONEM perform over the long term?

See historical performance and comparison

We’ve recently updated our valuation analysis.

Valuation

Is ONEM undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

1/6

Valuation Score 1/6

Price-To-Sales vs Peers
Price-To-Sales vs Industry
Price-To-Sales vs Fair Ratio
Below Fair Value
Significantly Below Fair Value
Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for ONEM?

Other financial metrics that can be useful for relative valuation.

The above table shows the n/a ratio for ONEM. This is calculated by dividing ONEM's market cap by their current preferred multiple.
What is ONEM's n/a Ratio?
n/a Ratio	0x
n/a	n/a
Market Cap	US$3.31b

ONEM key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	4x
Enterprise Value/EBITDA	-14.7x
PEG Ratio	n/a

Price to Sales Ratio vs Peers

How does ONEM's PS Ratio compare to its peers?

ONEM PS Ratio vs Peers

The above table shows the PS ratio for ONEM vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	PS	Estimated Growth	Market Cap
Peer Average	5.2x
AMN AMN Healthcare Services	1x	-16.9%	US$5.1b
OSH Oak Street Health	4x	27.5%	US$7.3b
GH Guardant Health	13.3x	23.3%	US$5.4b
AMEH Apollo Medical Holdings	2.5x	n/a	US$2.4b
ONEM 1Life Healthcare	3.7x	21.9%	US$3.3b

Price-To-Sales vs Peers: ONEM is good value based on its Price-To-Sales Ratio (3.7x) compared to the peer average (5.2x).

Price to Earnings Ratio vs Industry

How does ONEM's PE Ratio compare vs other companies in the US Healthcare Industry?

Price-To-Sales vs Industry: ONEM is expensive based on its Price-To-Sales Ratio (3.7x) compared to the US Healthcare industry average (1.5x)

Price to Sales Ratio vs Fair Ratio

What is ONEM's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

ONEM PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	3.7x
Fair PS Ratio	2.5x

Price-To-Sales vs Fair Ratio: ONEM is expensive based on its Price-To-Sales Ratio (3.7x) compared to the estimated Fair Price-To-Sales Ratio (2.5x).

Share Price vs Fair Value

What is the Fair Price of ONEM when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: Insufficient data to calculate ONEM's fair value for valuation analysis.

Significantly Below Fair Value: Insufficient data to calculate ONEM's fair value for valuation analysis.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Future Growth

How is 1Life Healthcare forecast to perform in the next 1 to 3 years based on estimates from 16 analysts?

Future Growth Score

2/6

Future Growth Score 2/6

Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Future ROE

35.8%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: ONEM is forecast to remain unprofitable over the next 3 years.

Earnings vs Market: ONEM is forecast to remain unprofitable over the next 3 years.

High Growth Earnings: ONEM is forecast to remain unprofitable over the next 3 years.

Revenue vs Market: ONEM's revenue (21.9% per year) is forecast to grow faster than the US market (8% per year).

High Growth Revenue: ONEM's revenue (21.9% per year) is forecast to grow faster than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: ONEM is forecast to be unprofitable in 3 years.

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Past Performance

How has 1Life Healthcare performed over the past 5 years?

Past Performance Score

0/6

Past Performance Score 0/6

Quality Earnings
Growing Profit Margin
Earnings Trend
Accelerating Growth
Earnings vs Industry
High ROE

-54.7%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: ONEM is currently unprofitable.

Growing Profit Margin: ONEM is currently unprofitable.

Past Earnings Growth Analysis

Earnings Trend: ONEM is unprofitable, and losses have increased over the past 5 years at a rate of 54.7% per year.

Accelerating Growth: Unable to compare ONEM's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: ONEM is unprofitable, making it difficult to compare its past year earnings growth to the Healthcare industry (7.7%).

Return on Equity

High ROE: ONEM has a negative Return on Equity (-22.08%), as it is currently unprofitable.

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Financial Health

How is 1Life Healthcare's financial position?

Financial Health Score

4/6

Financial Health Score 4/6

Short Term Liabilities
Long Term Liabilities
Debt Level
Reducing Debt
Stable Cash Runway
Forecast Cash Runway

Financial Position Analysis

Short Term Liabilities: ONEM's short term assets ($560.3M) exceed its short term liabilities ($216.5M).

Long Term Liabilities: ONEM's short term assets ($560.3M) do not cover its long term liabilities ($700.0M).

Debt to Equity History and Analysis

Debt Level: ONEM has more cash than its total debt.

Reducing Debt: Insufficient data to determine if ONEM's debt to equity ratio has reduced over the past 5 years.

Balance Sheet

Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: ONEM has sufficient cash runway for more than a year based on its current free cash flow.

Forecast Cash Runway: ONEM has sufficient cash runway for 2.2 years if free cash flow continues to reduce at historical rates of 43.4% each year.

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Dividend

What is 1Life Healthcare current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

Notable Dividend
High Dividend
Stable Dividend
Growing Dividend
Earnings Coverage
Cash Flow Coverage

Dividend Yield vs Market

Notable Dividend: Unable to evaluate ONEM's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate ONEM's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.

Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if ONEM's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if ONEM's dividend payments have been increasing.

Earnings Payout to Shareholders

Earnings Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.

Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as ONEM has not reported any payouts.

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Management

How experienced are the management team and are they aligned to shareholders interests?

2.9yrs

Average management tenure

CEO

Amir Rubin (52 yo)

5yrs

Tenure

US$1,788,721

Compensation

Mr. Amir Dan Rubin, MBA, has been the Chief Executive Officer and President at 1Life Healthcare, Inc. since August 2017 and has been its Chair, since September 2017. From January 2016 to August 2017, he se...

CEO Compensation Analysis

Compensation vs Market: Amir's total compensation ($USD1.79M) is below average for companies of similar size in the US market ($USD6.58M).

Compensation vs Earnings: Amir's compensation has been consistent with company performance over the past year.

Leadership Team

Experienced Management: ONEM's management team is considered experienced (2.9 years average tenure).

Board Members

Experienced Board: ONEM's board of directors are considered experienced (3.5 years average tenure).

Ownership

Who are the major shareholders and have insiders been buying or selling?

Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 41.6%.

Data	Last Updated (UTC time)
Company Analysis	2022/08/07 00:00
End of Day Share Price	2022/08/05 00:00
Earnings	2022/06/30
Annual Earnings	2021/12/31