A Look at OneMedNet's (ONMD) Valuation Following New AI Partnerships with Palantir and Medcase

OneMedNet (ONMD) has drawn attention following new partnerships with Palantir Technologies and Medcase. These moves are intended to expand its reach in healthcare AI, integrate real-time insights, and strengthen its data analytics offerings.

See our latest analysis for OneMedNet.

OneMedNet’s stock has experienced a remarkable surge lately, with a 171.4% share price return over the past month and an eye-catching 278.9% gain in the last 90 days. This surge has been largely fueled by news of its partnerships with Palantir and Medcase. While short-term share price momentum is strong, the 1-year total shareholder return of 177.8% signals renewed investor optimism after a turbulent multi-year stretch.

If you want to spot other promising healthcare innovators making waves, now’s an ideal moment to explore See the full list for free.

But with shares up nearly threefold in just three months, the key question now is whether OneMedNet's fast-rising stock is undervalued relative to its long-term prospects, or if the market has already accounted for future growth in the current price.

Price-to-Book of -27.6x: Is it justified?

OneMedNet’s price-to-book ratio is -27.6x, a figure that stands out dramatically when compared to both its industry and peers. This negative figure results from the company’s negative equity, reflecting liabilities that exceed its assets at present. For context, the average price-to-book ratio for the US Healthcare Services industry is 2.4x, while its peer average is 2.5x.

The price-to-book ratio measures a company’s market value relative to its book value, which is calculated as total assets minus total liabilities. Typically, a negative price-to-book ratio is a red flag, signaling underlying financial challenges such as negative shareholder equity. It suggests market concerns over the company’s balance sheet strength and future prospects, as investors are effectively assigning a premium despite net negative equity.

Compared to the rest of the industry, OneMedNet is in a much weaker position. While the average peer or sector player enjoys healthy positive equity and trades at a multiple that reflects reasonable optimism, ONMD’s negative ratio is a stark contrast and suggests heightened perceived risk or deeply speculative interest from the market.

See what the numbers say about this price — find out in our valuation breakdown.

Result: Price-to-Book of -27.6x (ABOUT RIGHT)

However, OneMedNet's ongoing net losses and negative equity position remain clear risks. These factors could challenge sustained investor confidence if improvements do not materialize soon.

Find out about the key risks to this OneMedNet narrative.

Build Your Own OneMedNet Narrative

If you believe the story runs deeper or prefer digging into the numbers yourself, it's easy to shape your own view in just a few minutes. Do it your way.

A great starting point for your OneMedNet research is our analysis highlighting 6 important warning signs that could impact your investment decision.

Looking for more investment ideas?

Expand your horizons and make the most of today's market by checking out exciting, fast-moving opportunities tailored to every savvy investor. Don't let the next winner pass you by.

• Zero in on tomorrow's tech giants by checking out these 26 AI penny stocks, where AI innovation is propelling nimble companies to the front of the pack.
• Boost your long-term income strategy and browse these 19 dividend stocks with yields > 3% featuring strong yields and steady performance from established market players.
• Uncover untapped growth in digital assets by reviewing these 78 cryptocurrency and blockchain stocks, connecting you with stocks riding the blockchain and cryptocurrency momentum.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com