Teladoc Health, Inc.

TDOC

HealthcareSmall CapUS Equities · NYSE / NASDAQ

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Company Profile

Teladoc Health, Inc. provides virtual healthcare services worldwide. It operates through Teladoc Health Integrated Care and BetterHelp segments. The Integrated Care segment offers virtual medical services, including general medical, expert medical services, specialty medical, chronic condition management, and mental health services, as well as technologies and enterprise telehealth solutions for hospitals and health systems. Its BetterHelp segment operates a mental health platform that provides online counselling and therapy services through websites, mobile applications, phones, and text-based interactions by its licensed clinicians. The company offers its products and services under the Teladoc and BetterHelp brands. It serves employers, health plans, hospitals and health systems, insurance companies, and financial services companies, as well as individual members. The company was formerly known as Teladoc, Inc. and changed its name to Teladoc Health, Inc. in August 2018. Teladoc Health, Inc. was incorporated in 2002 and is headquartered in New York, New York.

Valuation

Market Cap$1.3B

Current Price$7.72as of Jun 23, 2026

P/E Ratio-6.59

P/B Ratio0.95

EV / EBITDA9.83

EV / Sales0.62

Profitability

Operating Margin-6.5%

Net Profit Margin-7.9%

EBITDA Margin6.3%

Returns

ROE-14.5%

ROCE-6.7%

ROIC %-10.4%

ROA-7.0%

Solvency

Current Ratio2.77

Debt / Equity0.75

Debt / Assets0.36

CFO / Net Profit-1.47

Price History▼ 2.15% over 1Y

Technical Chart

Historical Performance Charts

5-year financial trends. Figures in USD millions.

Revenue vs Net Profit (5Y)

Free Cash Flow vs Operating Cash Flow (5Y)

Operating Margin % (5Y)

Growth Summary

Latest fiscal year: 2025

Revenue$2.5B▼ 1.5%

EBITDA$161M▼ 127.4%

Net Profit$-200M▼ 80.0%

Cash from Ops (CFO)$294M▲ 0.2%

Free Cash Flow (FCF)$137M▼ 19.0%

Revenue CAGR 3Y1.7%

Revenue CAGR 5Y-

Net Profit CAGR 3Y-

Net Profit CAGR 5Y-

Historical Growth

Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)

Year	Revenue	EBITDA	Net Profit	FCF	ROE	Rev Growth 1Y	NP Growth 1Y
2025	$2.5B	$161M	$-200M	$137M	-14.5%	-1.5%	-80.0%
2024	$2.6B	$-587M	$-1.0B	$170M	-67.1%	-1.3%	354.4%
2023	$2.6B	$151M	$-220M	$194M	-9.5%	8.1%	-98.4%
2022	$2.4B	$-13.4B	$-13.7B	$17M	-591.9%	-	-
2021	-

Financial Statements

Income statement, balance sheet, and cash flow as reported

Consolidated Figures in USD Millions.

Metric	2021	2022	2023	2024	2025
Total Revenue	-	2,406.84	2,602.42	2,569.57	2,529.98
Operating Revenue	-	2,103.81	2,282.52	2,215.22	2,091.94
Cost Of Revenue	-	743.99	760.03	751.27	771.59
Gross Profit	-	1,662.85	1,842.38	1,818.30	1,758.38
Operating Expense	-	1,890.22	2,052.89	2,027.09	1,921.78
Research And Development	-	333.63	348.52	307.27	277.92
Selling General And Administration	-	1,300.56	1,367.29	1,346.27	1,279.78
Total Expenses	-	2,634.21	2,812.92	2,778.36	2,693.37
Operating Income	-	-227.37	-210.50	-208.79	-163.40
Total Operating Income As Reported	-	-13,653.21	-248.55	-1,020.89	-262.96
EBITDA	-	-13,373.62	151.40	-587.01	160.62
Normalized EBITDA	-	52.23	189.45	225.09	260.18
EBIT	-	-13,641.40	-197.33	-969.85	-215.82
Interest Income	-	12.67	46.78	57.07	36.77
Interest Expense	-	21.94	22.28	23.80	19.71
Net Interest Income	-	-9.27	24.50	33.27	17.06
Other Non Operating Income Expenses	-	-0.86	4.44	-6.04	10.37
Other Income Expense	-	-13,426.71	-33.61	-818.13	-89.19
Interest Income Non Operating	-	12.67	46.78	57.07	36.77
Interest Expense Non Operating	-	21.94	22.28	23.80	19.71
Net Non Operating Interest Income Expense	-	-9.27	24.50	33.27	17.06
Pretax Income	-	-13,663.34	-219.61	-993.65	-235.53
Tax Provision	-	-3.81	0.76	7.59	-35.21
Tax Rate For Calcs	-	0	0	0	0
Tax Effect Of Unusual Items	-	0	-7.99	-170.54	-14.93
Net Income Continuous Operations	-	-13,659.53	-220.37	-1,001.24	-200.32
Net Income From Continuing And Discontinued Operation	-	-13,659.53	-220.37	-1,001.24	-200.32
Net Income From Continuing Operation Net Minority Interest	-	-13,659.53	-220.37	-1,001.24	-200.32
Net Income	-	-13,659.53	-220.37	-1,001.24	-200.32
Net Income Common Stockholders	-	-13,659.53	-220.37	-1,001.24	-200.32
Net Income Including Noncontrolling Interests	-	-13,659.53	-220.37	-1,001.24	-200.32
Normalized Income	-	-233.68	-190.31	-359.69	-115.70
Diluted NI Availto Com Stockholders	-	-13,659.53	-220.37	-1,001.24	-200.32
Basic Average Shares	-	5.38	5.41	5.69	5.87
Diluted Average Shares	-	5.38	5.41	5.69	5.87
Reconciled Depreciation	-	267.78	348.72	382.84	376.43
Reconciled Cost Of Revenue	-	732.23	748.38	741.98	759.24
Total Unusual Items	-	-13,425.85	-38.05	-812.10	-99.56
Total Unusual Items Excluding Goodwill	-	-13,425.85	-38.05	-812.10	-99.56
Special Income Charges	-	-13,425.85	-38.05	-812.10	-99.56
Other Special Charges	43.75	-	-	-	-
Impairment Of Capital Assets	-	13,402.81	0	790	71.76
Restructuring And Mergern Acquisition	-	23.04	38.05	22.10	27.80
Depreciation Amortization Depletion Income Statement	-	256.03	337.07	373.55	364.08
Depreciation And Amortization In Income Statement	-	256.03	337.07	373.55	364.08
General And Administrative Expense	-	449.86	464.66	435.49	431.89
Other Gand A	-	449.86	464.66	435.49	431.89
Selling And Marketing Expense	-	850.71	902.63	910.78	847.89
Amortization	-	244.62	325.93	363.36	350.76
Amortization Of Intangibles Income Statement	-	244.62	325.93	363.36	350.76
Depreciation Income Statement	-	11.41	11.14	10.18	13.31

Peer Comparison

Healthcare sector peers, ranked by market cap

Company	Ticker	Market Cap	P/E	P/B	ROE	EV/EBITDA
Teladoc Health, Inc.this co.	TDOC	$1.3B	-6.59	0.95	-14.5%	9.83
UroGen Pharma Ltd.	URGN	$1.3B	-8.76	-12.75	145.5%	-10.04
Bicara Therapeutics Inc.	BCAX	$1.3B	-9.72	3.34	-34.4%	-8.01
Inhibrx Biosciences, Inc.	INBX	$1.3B	-9.56	167.49	-1752.2%	-10.54
Ardelyx, Inc.	ARDX	$1.3B	-21.66

Learn while you research

Hand-picked academy chapters to deepen your understanding of Teladoc Health, Inc. and the metrics that matter.

01 Stock Valuation BasicsHow to think about what a fair price for a stock looks like.7 min read 02 Stock Market Risks

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Year

Revenue

EBITDA

Net Profit

FCF

ROE

Rev Growth 1Y

NP Growth 1Y

2025

$2.5B

$161M

$-200M

$137M

-14.5%

-1.5%

-80.0%

2024

$2.6B

$-587M

$-1.0B

$170M

-67.1%

-1.3%

354.4%

2023

$2.6B

$151M

$-220M

$194M

-9.5%

8.1%

-98.4%

2022

$2.4B

$-13.4B

$-13.7B

$17M

-591.9%

2021

Metric

2021

2022

2023

2024

2025

Total Revenue

2,406.84

2,602.42

2,569.57

2,529.98

Operating Revenue

2,103.81

2,282.52

2,215.22

2,091.94

Cost Of Revenue

743.99

760.03

751.27

771.59

Gross Profit

1,662.85

1,842.38

1,818.30

1,758.38

Operating Expense

1,890.22

2,052.89

2,027.09

1,921.78

Research And Development

333.63

348.52

307.27

277.92

Selling General And Administration

1,300.56

1,367.29

1,346.27

1,279.78

Total Expenses

2,634.21

2,812.92

2,778.36

2,693.37

Operating Income

-227.37

-210.50

-208.79

-163.40

Total Operating Income As Reported

-13,653.21

-248.55

-1,020.89

-262.96

EBITDA

-13,373.62

151.40

-587.01

160.62

Normalized EBITDA

52.23

189.45

225.09

260.18

EBIT

-13,641.40

-197.33

-969.85

-215.82

Interest Income

12.67

46.78

57.07

36.77

Interest Expense

21.94

22.28

23.80

19.71

Net Interest Income

-9.27

24.50

33.27

17.06

Other Non Operating Income Expenses

-0.86

4.44

-6.04

10.37

Other Income Expense

-13,426.71

-33.61

-818.13

-89.19

Interest Income Non Operating

12.67

46.78

57.07

36.77

Interest Expense Non Operating

21.94

22.28

23.80

19.71

Net Non Operating Interest Income Expense

-9.27

24.50

33.27

17.06

Pretax Income

-13,663.34

-219.61

-993.65

-235.53

Tax Provision

-3.81

0.76

7.59

-35.21

Tax Rate For Calcs

Tax Effect Of Unusual Items

-7.99

-170.54

-14.93

Net Income Continuous Operations

-13,659.53

-220.37

-1,001.24

-200.32

Net Income From Continuing And Discontinued Operation

-13,659.53

-220.37

-1,001.24

-200.32

Net Income From Continuing Operation Net Minority Interest

-13,659.53

-220.37

-1,001.24

-200.32

Net Income

-13,659.53

-220.37

-1,001.24

-200.32

Net Income Common Stockholders

-13,659.53

-220.37

-1,001.24

-200.32

Net Income Including Noncontrolling Interests

-13,659.53

-220.37

-1,001.24

-200.32

Normalized Income

-233.68

-190.31

-359.69

-115.70

Diluted NI Availto Com Stockholders

-13,659.53

-220.37

-1,001.24

-200.32

Basic Average Shares

5.38

5.41

5.69

5.87

Diluted Average Shares

5.38

5.41

5.69

5.87

Reconciled Depreciation

267.78

348.72

382.84

376.43

Reconciled Cost Of Revenue

732.23

748.38

741.98

759.24

Total Unusual Items

-13,425.85

-38.05

-812.10

-99.56

Total Unusual Items Excluding Goodwill

-13,425.85

-38.05

-812.10

-99.56

Special Income Charges

-13,425.85

-38.05

-812.10

-99.56

Other Special Charges

43.75

Impairment Of Capital Assets

13,402.81

790

71.76

Restructuring And Mergern Acquisition

23.04

38.05

22.10

27.80

Depreciation Amortization Depletion Income Statement

256.03

337.07

373.55

364.08

Depreciation And Amortization In Income Statement

256.03

337.07

373.55

364.08

General And Administrative Expense

449.86

464.66

435.49

431.89

Other Gand A

449.86

464.66

435.49

431.89

Selling And Marketing Expense

850.71

902.63

910.78

847.89

Amortization

244.62

325.93

363.36

350.76

Amortization Of Intangibles Income Statement

244.62

325.93

363.36

350.76

Depreciation Income Statement

11.41

11.14

10.18

13.31

Company

Ticker

Market Cap

P/E

P/B

ROE

EV/EBITDA

Teladoc Health, Inc.this co.

TDOC

$1.3B

-6.59

0.95

-14.5%

9.83

UroGen Pharma Ltd.

URGN

$1.3B

-8.76

-12.75

145.5%

-10.04

Bicara Therapeutics Inc.

BCAX

$1.3B

-9.72

3.34

-34.4%

-8.01

Inhibrx Biosciences, Inc.

INBX

$1.3B

-9.56

167.49

-1752.2%

-10.54

Ardelyx, Inc.

ARDX

$1.3B

-21.66

Teladoc Health, Inc.

Valuation

Profitability

Returns

Solvency

Historical Performance Charts

Revenue vs Net Profit (5Y)

Free Cash Flow vs Operating Cash Flow (5Y)

Operating Margin % (5Y)

Growth Summary

Historical Growth

Financial Statements

Peer Comparison

Teladoc Health, Inc.

Valuation

Profitability

Returns

Solvency

Historical Performance Charts

Revenue vs Net Profit (5Y)

Free Cash Flow vs Operating Cash Flow (5Y)

Operating Margin % (5Y)

Growth Summary

Historical Growth

Financial Statements

Peer Comparison

Key concepts to brush up on