TELADOC HEALTH INC (TDOC)
Health Care · Virtual healthcare and telehealth platforms · NYSE
A global virtual care and mental health platform that orchestrates telehealth delivery for 100+ million insured members and direct-to-consumer mental health counseling, facing headwinds from market saturation and reimbursement pressures.
What TELADOC HEALTH INC does
Teladoc Health is a global virtual care platform that connects patients, providers, and healthcare organizations to deliver comprehensive telehealth and mental health services. The company operates through two segments: Integrated Care, which provides B2B virtual care services (primary care, urgent care, mental health, chronic disease management, and care coordination) to employers, health plans, and health systems serving over 100 million members; and BetterHelp, a direct-to-consumer online mental health counseling platform with a network of ~35,000 licensed clinicians. In 2025, the company completed 17.1 million telehealth visits, generating 83% of consolidated revenue from monthly access fees (PMPM/PEPM/PPPM models) with the remainder from visit fees and hardware/software sales to hospital and health systems.
Themes: ["Virtual care / telemedicine","Mental health and behavioral health","Healthcare cost reduction and outcomes optimization","Care coordination and orchestration","AI in healthcare delivery","Direct-to-consumer health services"]
Fundamentals
- Price$9.21 as of 2026-07-09 close
- Market cap$1.7B as of 2026-07-10
- 1-year return+4.1% as of 2026-07-09 close
- Net margin-6.8% as of 2026-07-10
- Gross margin+69.3% as of 2026-07-10
- ROE-12.4% as of 2026-07-10
- Debt / equity0.75 as of 2026-07-10
- Revenue growth (YoY)-1.5% as of 2026-07-10
- Revenue CAGR (3y)+1.7% SEC XBRL
- Beta2.11 as of 2026-07-10
Key risks (from latest filing)
["Declining revenue (-1.5% YoY) and persistent unprofitability (net margin -6.81%) indicate market saturation, reimbursement pressure, or competitive intensity in virtual care","Significant goodwill ($283M) and intangible assets ($1,235M) on balance sheet create impairment risk if segment performance deteriorates; the company already took a $59M goodwill impairment in Q1 2025","High debt burden ($995M convertible senior notes) with negative operating cash flow generation in recent periods limits financial flexibility and refinancing options in a higher rate environment"]
Competitors & peers
- Amwell (AMWL)
- Livongo Health / Teladoc's BetterHelp competitor
- Ro (private, but direct competitor in DTC mental health)
- Doctor on Demand
- Amazon Care / Amazon Pharmacy (entering virtual care)
- Cigna (health plans offering in-house telehealth)
- UnitedHealth Group / Optum (health plan + virtual care vertical integration)
- CVS Health MinuteClinic / Aetna (retail + virtual hybrid)
Fundamentals: Finnhub, as of 2026-07-10. Filings: SEC EDGAR. Prices are delayed daily-close data.
Last updated 2026-07-09.
Informational only — NOT financial advice. All figures are delayed daily-close data from SEC EDGAR & Finnhub, shown with their as-of date.