Hims & Hers Health, Inc.

How has the stock done?

Change in closing price from the first day shown, or with Price the closing price itself. Prices: Yahoo Finance, to Nov 12, 2026. Dashed lines: the days the company released earnings (its SEC 8-K filings); EPS estimates: Yahoo Finance. The stock's move after a release runs from the last close before its day to the close the day after (or five days after), so a release before the open counts like one after the close.

Is the business growing?

In the fiscal year to Dec 2025, United States was 94% and Outside the United States was 6% of revenue; Outside the United States rose from 2% in the fiscal year to Dec 2023.

Quarters: Hims & Hers Health, Inc.'s SEC filings, named by the month they end. Fiscal years: Hims & Hers Health, Inc.'s annual reports to the SEC.

How it makes money

Of every $100 in revenue, $5.5 ends up as net income. Net margin rose from −12.5% to 5.5% over the past 3 years.

Circled: Sep 2024 (net 18.8%, operating 5.6%). Net margin is usually about 1 point above operating margin; in that quarter something below operating income (a tax charge or benefit, a gain or loss on investments, a write-down) moved it, not the business itself.

Each margin is that line of the income statement divided by revenue. Fiscal year: Hims & Hers Health, Inc.'s annual reports to the SEC; quarters: SEC filings.

Customers and suppliers

In its latest annual report Hims & Hers Health buys from Amazon, C S Bio.

Their suppliers

e.l.f. Beauty ELFto Amazon

United Parcel Service UPSto Amazon

Applied Optoelectronics AAOIto Amazon

Show 3

Suppliers

Amazon AMZN

C S Bio

 

HIMSHims & Hers Health

Only the companies Hims & Hers Health names in its 10-K filed Feb 23, 2026 (SEC). The supply chain joins the latest annual reports of the companies on it and the 8-Ks they filed since: a link shows when either side's report names the other, so it grows as more reports are read. Hover a name for the filing's own words.

Is it expensive?

Currently unprofitable, so P/E does not apply, so we look at price-to-sales instead: 1.6x, below the peer median of 3.6x. Revenue is up 49% from a year ago.

Below the peer median of 3.6x. The market pays less per $1 of revenue than for peers.

Hims & Hers Health, Inc. is currently unprofitable, so P/E does not apply. We use price-to-sales instead: market cap as a multiple of revenue.

What analysts expect

The average analyst price target is $30.69, 56% above the current price; 20% of 15 analysts rate it a buy; earnings beat estimates in 1 of the last 4 quarters.

Buy or Strong Buy: 3 analysts (20%). Sell or Strong Sell: 0.

Over the past year the average of the analysts' latest price targets went from $54.50 to $32.00 (−41%), while HIMS went from $36.05 to $19.73 (−45%). In the past three months targets were raised once and cut twice. 3 upgrades and 1 downgrade over the year; the latest: Citigroup moved it to Neutral from Sell on Mar 10, 2026.

The day after each of these reports the stock moved −1.1% (Dec 2025, beat); −11.5% (Mar 2026, missed); −3.4% (Jun 2026, missed); −26.4% (Sep 2026, missed).

For the quarter ending Dec 2026, analysts expect adjusted earnings of $0.10 a share, and revenue of $892M, up 44% on a year earlier. For the fiscal year ending Dec 2027, they expect revenue of $4.0B, up 26% on the year before's estimate.

Targets, ratings and earnings estimates: Yahoo Finance. Rating and target changes: Yahoo Finance's list of upgrades and downgrades. The average target on each day is the average of every listed firm's latest target set in the 180 days before it, so it counts fewer analysts than the average target above, and the band is the middle half of those targets (a quarter of the firms are above it, a quarter below); a target set before a stock split is divided by the split. Expected figures: the average of the analysts' estimates (Yahoo Finance). Their EPS is adjusted, as analysts estimate it, so it is set against the adjusted EPS Yahoo reports for the same quarters, not the GAAP EPS of the growth and valuation sections; revenue against the SEC filings. No change is given against a quarter whose reported EPS was more than 50% off its own estimate (often a one-off gain or charge), nor against a year that counts one. Each estimate is pinned to its fiscal period by the report date or the period's end, and one that cannot be is left out.

Where the cash goes

Generated $8M in free cash flow over the year and returned more than it generated: $80M went back to shareholders (dividends plus buybacks), so $72M came from cash on hand or borrowing.

Hims & Hers Health had 234M diluted shares in the quarter ended Sep 2026, 6.0% fewer than a year earlier, and 8.0% more each year on average since Mar 2021. The quarter a year earlier had a profit and this one a loss, which leaves out of the diluted count the options, convertible notes and units exchangeable for shares that a profit counts: the fall is partly or wholly in what the count includes. It spent $80M on buybacks over the last four quarters.

Free cash flow: operating cash flow minus capital spending on property, plant and equipment, from SEC filings, for the last 4 quarters and by quarter. Shares: each quarter's diluted weighted average as filed with the SEC, since the stock's listing and its latest split.

Financial health

Current ratio 1.9, no pressure to repay short-term debt; debt-to-equity 1.8, debt is high, which adds pressure if the economy weakens.

Latest fiscal year balance sheet. Source: Yahoo Finance.

What did the funds Hunch tracks do?

Of the 83 funds whose 13F filings Hunch reads, 5 held HIMS at the end of their latest quarter (for most, Q2 2026). Over that quarter 3 added shares, 1 cut, 1 bought new and 1 sold all. The largest of them is Baillie Gifford &, 794,827 shares worth $23.7M at Sep 30, 2026, 5.9% more than a quarter earlier.

From the 13F filings of the 83 funds Hunch tracks, not of every institution: each fund's shares of HIMS at its latest quarter end against the quarter before, as filed (long positions only, options left out), the quarter before put on the latest quarter's share count across a split. A fund files 45 days after its quarter ends, so some have a newer quarter than others. Value is at the quarter end. Norges Bank filed its 13F for Q1 2026 confidentially, with no holdings made public, so its row compares Q2 2026 with Q4 2025.

Are insiders buying or selling?

Officers and directors bought $1.2M and sold $19.3M of HIMS on the open market in the 12 months to Nov 12, 2026. 97% of the sales were made under 10b5-1 plans, set up in advance. The largest was Oluyemi Okupe (Chief Financial Officer), who sold $9.7M in 20 sales.

From the Form 4s filed with the SEC about Hims & Hers Health, Inc. (111 in the 12 months): purchases (code P) and sales (code S) on the open market by its officers and directors, at the price each filing gives (often an average of the day's trades). A sale is a 10b5-1 sale when its filing says it was made under such a plan, set up in advance. Not counted: 112 other transactions (grants, option exercises, shares withheld for tax, gifts and other transfers).