Hims & Hers Health, Inc.HIMS
NYSE•Healthcare•Drug Manufacturers - Specialty & Generic
Hims & Hers Health, Inc. operates as a consumer-first health and wellness platform that connects consumers to licensed healthcare professionals in the United States, the United Kingdom, Canada, Germany, the Republic of Ireland, France, Spain, and internationally. The company offers a range of curated prescription and non-prescription health and wellness products and services available to purchase on its websites and mobile application directly by customers. It also provides personalized health and wellness products; over-the-counter drug and device products, cosmetics, and supplement products primarily focusing on general wellness, skincare, sexual health and wellness, and hair care under the Hims & Hers brand name; and laboratory testing services to measure a set of biomarkers. Additionally, it offers medical consultation, post-consultation support services, and delivery of laboratory testing results services. Further, the company provides treatments and products for various chronic conditions related to hormone health, weight loss, dermatology, and mental health. The company offers its products through retail partnerships, in stores, and online. Hims & Hers Health, Inc. is based in San Francisco, California.
Hims & Hers Health, Inc. (HIMS) reported trailing twelve months revenue of $2.37B as of March 2026, a 32.8% increase year-over-year. Quarterly revenue reached $608.10M, reflecting continued top-line momentum.
Hims & Hers Health, Inc. reported a TTM net loss of $13.23M, with quarterly EBITDA of $-56.37M. The operating margin contracted from 9.9% to -12.9%, suggesting rising cost pressures or pricing headwinds.
The spread between operating margin (-12.9%) and net margin (-15.1%) indicates tight cost control with minimal non-operating drag. Net margin has narrowed from 8.4% a year ago, reflecting increased costs or interest expense.
HIMS trades at a P/S of 3.1x. The price-to-book ratio of 16.3x indicates a significant premium over book value.
The company generated $53.06M in free cash flow over the trailing twelve months, a 5.9% increase year-over-year, indicating strong cash generation ability. The balance sheet shows $2.27B in total assets with $974.11M in long-term debt against $446.17M in stockholders equity for a debt-to-equity ratio of 2.2, a relatively leveraged position. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are under pressure, averaging 2.3%. The business may lack pricing power or face rising costs.'
ROE averages 20.3% but has fluctuated — the competitive advantage may be cyclical or emerging.
6 of the last 8 quarters generated positive FCF. The company generally funds itself but has occasional cash consumption quarters.
TTM revenue has grown consistently (7 of 7 quarters up), with ~122.1% growth over the period. Strong demand durability.
Data-driven red flags and warnings across 21 quarters
Operating margins dropped 119.8% over recent quarters — a sharp decline suggesting serious cost or pricing challenges.
FCF/Net Income has dropped below 0.7x in 3 quarters — monitor for earnings quality deterioration.
D/E ratio of 2.2 is elevated and rising. Monitor for further debt accumulation.
Revenue is stable or growing over recent quarters — demand appears durable.
FCF turned negative in 2 of the last 8 quarters — occasional cash consumption.
Shares outstanding increased 6.4% — significant dilution, likely from stock compensation or capital raises.