Stock

Teladoc Health

TDOC

Medical - Healthcare Information Services · Healthcare

Also trades as: 0LDR.L GBP 0.06 (+0.33%)

Price

$6.32

+0.02 (+0.32%)

Market Cap

$1.15B

Winston Score

Winston is worried

Weak fundamentals across most pillars.

Data as of Oct 23, 2026 · filings through Jun 30, 2026

§How the score breaks down

Quality

Mixed

10/30

Growth

Weak

3/20

Cash Flow

Weak

2/10

Stability

Mixed

3/10

Valuation

Data not available

0/10

Ownership

Weak

2/15

Dividends

Not counted

n/a

20 of 95 counted points = Winston Score 21. Pillars marked n/a do not apply to this company and are left out of the total.

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Share count rising — dilution

+12.3% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 156.9M (2021) → 176.2M (2025)

§Winston Score History

The full picture

Teladoc Health lets people see a doctor without leaving home. Patients use an app or website to video chat with doctors, therapists, and other health professionals. The company serves millions of individual members, but its biggest customers are employers and health insurance plans that pay for their workers or members to use the service.

Teladoc makes most of its money by charging employers and insurers a recurring fee per member, plus additional fees when members actually use the service. It operates mainly in the United States but also has customers in over 130 countries. Teladoc is one of the largest telehealth companies in the world, which gives it scale, but it faces heavy competition from traditional health systems and newer digital health startups. The company has struggled to turn a profit, and its biggest challenge is convincing enough members to actually use the service regularly so that revenue grows faster than its costs.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-4.0% YoY

YoY Growth Rate

Revenue declining

EPS Growth

-10.5% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$278M/ year

↓ Declining (-10% vs prior year)

11.0% of revenue

Below sector average (18%)

R&D spend declining — could signal cost-cutting or efficiency

Insider Activity

0.6%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

$774M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Company generates more cash than it spends — no dilution risk from fundraising

Revenue declining

Teladoc Health's revenue is actually shrinking. In a growth stock, that removes the core investment thesis. The low Winston Score here may be warranted — unless there's a turnaround story.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale

Gross Margin

102.5%

Premium pricing power — 102.5% gross margin

Profit after running costs

Operating Margin

-6.1%

Losing money on operations — -6.1%

Return on the money invested

ROCE

-7.4%

Weak — -7.4% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales growth

Sales YoY

-2.1%

Shrinking sales (-2.1% YoY)

Profit growth

EPS YoY

N/A

—

Data not available

How steady the profit is

EPS Consistency

4/8 quarters

Earnings inconsistent quarter-to-quarter

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

—

Data not available

Spare cash per sale

FCF Margin

9.0%

Modest free cash flow (9.0%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

What it owes vs what it owns

Debt / Equity

0.79

Moderate — manageable debt (0.79)

Covers its interest

Interest Cover

N/A

Data not available

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Valuation

Price vs profit

P/E Ratio (TTM)

N/M

—

Negative earnings — P/E not meaningful

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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