Hims & Hers Health, Inc. (HIMS)
NEUTRALファンダメンタル
32
株価
$32.37
時価総額
$7.88B
パート1 · 企業の価値
概要
Hims & Hers runs a direct-to-consumer telehealth platform that connects patients with licensed providers who can prescribe treatments for conditions such as weight loss, sexual health, dermatology, hair loss and mental health. Patients fill out an online questionnaire, a provider reviews it and, where appropriate, writes a prescription that is fulfilled by the company's own or partner pharmacies and shipped directly to the customer, without an in-person doctor visit.
収益の仕組み
Most revenue comes from recurring monthly subscriptions that bundle a treatment plan, medication and provider access into a single price, rather than from one-off purchases. A smaller share is wholesale sales of over-the-counter products. Pricing ranges from roughly $20-40 a month for basic plans to well over $100 for specialty treatments such as compounded weight-loss drugs, and the company reports most subscribers stay active well beyond the first few months.
セグメント別売上高
The core market: nearly all subscribers and revenue, across every treatment category the company offers.
International markets including the UK, Canada and continental Europe, growing much faster than the US but still a small share of the total.
競争優位性（moat）
明確な優位性なし · なしThe company holds no patents on the medications it prescribes and its questionnaire-and-prescription model is replicable by other telehealth platforms, several of which already compete for the same customers. Its advantage today rests on brand recognition built through heavy advertising and on its pharmacy network, neither of which is hard for a well-funded rival to copy.
需要を左右する要因
中程度の景気循環性Treatments are paid out of pocket rather than through insurance, so demand has some sensitivity to household budgets, but much of it — ongoing prescriptions for chronic conditions like weight management or hair loss — behaves more like a recurring habit than a discretionary purchase once a subscriber is established.
主なリスク
- FDA scrutiny of compounded-drug marketing — The company states that promotion of the compounded drugs made by its pharmacies is subject to FDA regulation, that misleading promotional claims can lead to a drug being deemed misbranded, and that enforcement can include warning letters or, in extreme cases, criminal prosecution.
- Continuity of compounded GLP-1 offerings — The company warns it cannot guarantee it will keep offering compounded weight-loss products in the same way or at all, citing supply chain, intellectual property and regulatory factors outside its control, after the FDA narrowed the conditions under which such compounding is allowed.
- State-by-state telehealth regulation — Providers on the platform must generally hold a license in the state where the patient is located, and telehealth regulation is still developing and applied unevenly across states, adding compliance complexity as the company grows.
顧客集中度
Revenue is spread across more than 2.5 million individual subscribers rather than a small number of large customers, so single-customer concentration is not a relevant risk here.
強気材料
Buyers argue that the subscription model and expanding treatment categories give the company a large and growing base of recurring, cash-pay revenue, that international expansion adds a long growth runway, and that the regulatory pressure on compounded GLP-1s pushes the company toward higher-margin branded and proprietary offerings rather than ending the business.
弱気材料
Sellers fear that a large share of recent growth came from compounded weight-loss drugs now under direct FDA and legal pressure, that the questionnaire-based model is easy for well-funded competitors to replicate, and that rising marketing costs to keep acquiring subscribers could compress margins even as revenue keeps growing.
Written by the editors, published on 2026年8月18日
Direct competitors
Who this company fights with for the same customers
No editorial profile for this company yet
No competitor list for this company yet.
貸借対照表と流動性
売上高
$2.58B
直近12か月（2026/6/30まで）
純利益
$-142M
直近12か月（2026/6/30まで）
フリーキャッシュフロー
$57M
自己資本合計
$541M
負債合計
$1.61B
流動比率
0.93
利払い倍率
-
負債/EBITDA
9.66
一株当たり利益（EPS）
売上高と純利益
フリーキャッシュフロー
収益内訳
財務推移表
利益率の推移
負債の推移
負債の重さ
成長率グリッド
成長率 — 売上高
適正価値の推定
適正価値
$30.85
現在株価
$32.37
安全マージン
-4.9%
適正価値レンジ
$29.30 - $32.39
推定方法
バリュエーション指標
P/E レシオ
66.24
ROE
23.7%
P/B レシオ
-
P/FCF
0.00
粗利益率
68.4%
ROIC
-5.7%
収益性レーダー
Value Creation (Economic Moat)
ROIC
-5.7%
WACC
14.6%
ROIC − WACC
-20.3 pp
ROIC is below the cost of capital — the company is destroying value for every dollar invested.
ファンダメンタル分析基準
合格（6）
- EPS shows upward trend
- Price CAGR 19.16%
- Gross Margin 68.4%
- Debt/Equity ratio
- Positive Free Cash Flow
- Current Ratio
不合格（13）
- ROIC -5.7%
- Operating Margin -6.0%
- CapEx intensity
- Debt/EBITDA
- Return on Tangible Assets
- Low reliance on intangibles
- DCF valuation (Unknown)
- ROE -2.5%
- Analyst Consensus 41% Buy
- Earnings Surprise avg -275.4%
- Share Dilution 5.8%
- Net Margin Trend -5.5% vs 9.6%
- Piotroski F-Score 4/9
データなし（8）
- P/FCF 0.00
- P/B Ratio NaN
- Dividend Payout NaN%
- Interest Coverage
- Price below Graham Number
- Revenue Growth 5Y (Finnhub)
- PEG Ratio (need PE > 0 and growth > 0)
- Earnings Quality (OCF/Net Income)
Piotroski F-スコア
まちまちのシグナル：一部の領域に注意が必要
利益の質
低品質：会計処理を調査してください
株式希薄化
新株を発行しており、所有権を希薄化している
ガバナンス
経営陣
| 氏名 | 役職 | 年齢 |
|---|---|---|
| Mr. Andrew Dudum | Co-Founder, Chairman & CEO | 37 |
| Mr. Oluyemi Okupe | Chief Financial Officer | 39 |
| Mr. Mike Chi | Chief Operating Officer | 45 |
| Mr. Mohamed ElShenawy | Chief Technology Officer | 50 |
| Ms. Soleil Teubner Boughton J.D. | Chief Legal Officer & Corporate Secretary | 47 |
| Dr. Patrick Carroll M.D. | Global Chief Medical Officer | 67 |
| Ms. Deborah M. Autor J.D. | Chief Policy Officer & Director | 58 |
| Ms. Irene A. Becklund | Chief Accounting Officer | 41 |
| Mr. William James Newby | Senior Director of Investor Relations | - |
| Ms. Kathryn H. Beiser B.A., M.S. | Chief Communications Officer | - |
監査リスク
2
取締役会リスク
7
報酬リスク
7
株主権利リスク
10
パート2 · 株価と買い時
この部分は企業に価値があるかを判断するものではありません。ファンダメンタルズに納得したうえで、いつ買うかを選ぶためのものです。内容：テクニカル分析、ポテンシャル、過去のドローダウン、ガンマエクスポージャー。
Latest News
Recent headlines for HIMS, sourced from Markets Gazette.
- 15d agoNEGATIVEHims & Hers Lowers Profit Forecast, Shares Drop
Hims & Hers Health Inc. has seen its shares decline following a downward revision to its full-year adjusted EBITDA forecast. The telehealth company has lowered the upper limit of its guidance, signaling potential headwinds or a more challenging operating environment than previously anticipated. This adjustment raises concerns among investors about the company's profitability trajectory and its ability to meet future financial targets. The market's reaction underscores the sensitivity to forward-looking financial projections, particularly for growth-oriented companies in the healthcare technology sector.
- 6/18/2026POSITIVEHims & Hers Stock Jumps After Barclays Raises Price Target
Hims & Hers Health Inc. (NYSE: HIMS) experienced a significant stock price increase following Barclays' reaffirmation of a positive outlook. The investment bank raised its price target for HIMS from $29 to $39, signaling strong conviction in the company's future performance. This upward revision suggests that analysts at Barclays see substantial untapped value in the company, potentially driven by factors such as market growth, competitive positioning, or upcoming product launches. Investors are likely to interpret this upgraded target as a strong buy signal, potentially leading to further price appreciation.
- 6/12/2026NEGATIVEHims & Hers Health Stock Slides Friday: What's Going On?
Hims & Hers Health Inc. saw its stock price decline on Friday, giving back recent gains. This downturn follows the announcement of a new Chief Marketing Officer (CMO) appointment. While the company's stock breadth remains constructive, the market appears to be reacting negatively to the news, leading to a slide in its share price. Investors are likely digesting the implications of the new CMO's strategy and its potential impact on future growth and profitability.
- 5/15/2026POSITIVE$1000 Invested In Hims & Hers Health 5 Years Ago Would Be Worth This Much Today
An investment of $1,000 in Hims & Hers Health Inc. five years ago would have yielded a significant return, illustrating the company's strong growth trajectory. While specific figures are not provided in the title, the implication of a substantial increase in value suggests robust performance and market acceptance. This historical performance data is crucial for investors assessing the company's long-term potential and its ability to generate shareholder value. The positive trend indicates successful business operations and potentially increasing market share in the telehealth and wellness sector.
- 5/12/2026NEGATIVEHims & Hers Health Posts Mixed Q1 Amid Weight-Loss Product 'Noise': Analysts
Hims & Hers Health Inc. experienced a significant share price decline following its Q1 earnings report, which presented a mixed financial picture. While the company elevated its 2026 revenue projections, it simultaneously reduced its EBITDA outlook by $25 million. This downward revision in profitability guidance, coupled with what analysts describe as 'noise' surrounding its weight-loss products, has overshadowed the positive revenue forecast. Investors are likely weighing the near-term profitability concerns against the longer-term revenue potential, leading to a cautious sentiment.
- 5/11/2026NEGATIVEWhy Hims & Hers Health Are Falling Monday
Hims & Hers Health Inc. reported its Q1 results, revealing a miss on revenue estimates despite an increase in subscriber numbers. The company's stock experienced a significant decline, falling over 9% in after-hours trading following the announcement. This revenue shortfall, even with subscriber growth, suggests potential challenges in monetization or increased customer acquisition costs that are impacting the top line. Investors will be closely watching for management's commentary on the revenue miss and future strategies to address this during the earnings call.
- 4/16/2026POSITIVEWhy Is Hims & Hers Stock Soaring After FDA's Announcment?
Hims & Hers Health, Inc. (HIMS) shares experienced a significant surge following the U.S. Food and Drug Administration's (FDA) announcement regarding potential easing of regulations for peptide therapies. This regulatory shift is anticipated to unlock substantial new revenue streams for the company, which specializes in telehealth services and prescription treatments. The revised outlook suggests a more favorable environment for Hims & Hers to expand its offerings in areas utilizing peptide-based treatments, potentially boosting its market position and investor valuation.
- 4/15/2026NEUTRALHere's How Much $1000 Invested In Hims & Hers Health 5 Years Ago Would Be Worth Today
An investment of $1000 in Hims & Hers Health Inc. (HIMS) five years ago would have yielded approximately $2,100 today, representing a 110% return. This analysis tracks the stock's performance over the past half-decade, highlighting its growth trajectory. While past performance is not indicative of future results, this historical data provides context for potential investors evaluating the company's long-term value proposition and market position in the telehealth and wellness sector.
via Markets Gazette