OSCR (Oscar Health) Beneish M-Score: -3.61 (As of Jul. 09, 2026)


OSCR Oscar Health Inc OSCR
74 GF Score
Price $30.81
GF Value $21.26
Valuation Significantly Overvalued
! 5 Warning Signs
View Full Analysis

What is Oscar Health Beneish M-Score?

Oscar Health OSCR -1.00% 74 Beneish M-Score is -3.61 as of Jul. 09, 2026. GuruFocus rates OSCR with a GF Score™ of 74/100 and a GF Value™ of $21.26 (Significantly Overvalued). The stock has 5 warning signs investors should review. Among 18 Healthcare Plans companies, Oscar Health ranks better than 88.89% on this metric.

Note: Financial institutions were excluded from the sample in Beneish paper when calculating Beneish M-Score. Thus, the prediction might not fit banks and insurance companies.

The zones of discrimination for M-Score is as such:

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator.
An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

Good Sign:

Beneish M-Score -3.61 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Oscar Health's Beneish M-Score or its related term are showing as below:

OSCR' s Beneish M-Score Range Over the Past 10 Years
Min: -3.68   Med: -2.97   Max: 0.27
Current: -3.61

During the past 7 years, the highest Beneish M-Score of Oscar Health was 0.27. The lowest was -3.68. And the median was -2.97.

OSCR
74GF Score
Oscar Health Inc OSCR
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Oscar Health Beneish M-Score Calculation

The M-score was created by Professor Messod Beneish. Instead of measuring the bankruptcy risk (Altman Z-Score) or business trend (Piotroski F-Score), M-score can be used to detect the risk of earnings manipulation. This is the original research paper on M-score.

The M-Score Variables:

The M-score of Oscar Health for today is based on a combination of the following eight different indices:

M=-4.84+0.92 * DSRI+0.528 * GMI+0.404 * AQI+0.892 * SGI+0.115 * DEPI
=-4.84+0.92 * 0.9448+0.528 * 1+0.404 * 1.0022+0.892 * 1.3194+0.115 * 1.2744
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.8663+4.679 * -0.309454-0.327 * 0.9042
=-3.61

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

This Year (Mar26) TTM:Last Year (Mar25) TTM:
Total Receivables was $952 Mil.
Revenue was 4647.194 + 2805.235 + 2985.984 + 2863.945 = $13,302 Mil.
Gross Profit was 4647.194 + 2805.235 + 2985.984 + 2863.945 = $13,302 Mil.
Total Current Assets was $0 Mil.
Total Assets was $9,290 Mil.
Property, Plant and Equipment(Net PPE) was $94 Mil.
Depreciation, Depletion and Amortization(DDA) was $29 Mil.
Selling, General, & Admin. Expense(SGA) was $1,727 Mil.
Total Current Liabilities was $0 Mil.
Long-Term Debt & Capital Lease Obligation was $431 Mil.
Net Income was 678.996 + -352.611 + -137.45 + -228.361 = $-39 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = $0 Mil.
Cash Flow from Operations was 2618.98 + 671.903 + -964.658 + 509.067 = $2,835 Mil.
 Total Receivables was $763 Mil.
Revenue was 3046.263 + 2392.813 + 2423.482 + 2219.341 = $10,082 Mil.
Gross Profit was 3046.263 + 2392.813 + 2423.482 + 2219.341 = $10,082 Mil.
Total Current Assets was $0 Mil.
Total Assets was $5,844 Mil.
Property, Plant and Equipment(Net PPE) was $72 Mil.
Depreciation, Depletion and Amortization(DDA) was $31 Mil.
Selling, General, & Admin. Expense(SGA) was $1,511 Mil.
Total Current Liabilities was $0 Mil.
Long-Term Debt & Capital Lease Obligation was $300 Mil.

1. DSRI = Days Sales in Receivables Index

Measured as the ratio of Revenue in Total Receivables in year t to year t-1.

A large increase in DSR could be indicative of revenue inflation.

DSRI=(Receivables_t / Revenue_t) / (Receivables_t-1 / Revenue_t-1)
=(951.705 / 13302.358) / (763.438 / 10081.899)
=0.071544 / 0.075724
=0.9448

2. GMI = Gross Margin Index

Measured as the ratio of gross margin in year t-1 to gross margin in year t.

Gross margin has deteriorated when this index is above 1. A firm with poorer prospects is more likely to manipulate earnings.

GMI=GrossMargin_t-1 / GrossMargin_t
=(GrossProfit_t-1 / Revenue_t-1) / (GrossProfit_t / Revenue_t)
=(10081.899 / 10081.899) / (13302.358 / 13302.358)
=1 / 1
=1

3. AQI = Asset Quality Index

AQI is the ratio of asset quality in year t to year t-1.

Asset quality is measured as the ratio of non-current assets other than Property, Plant and Equipment to Total Assets.

AQI=(1 - (CurrentAssets_t + PPE_t) / TotalAssets_t) / (1 - (CurrentAssets_t-1 + PPE_t-1) / TotalAssets_t-1)
=(1 - (0 + 94.194) / 9289.646) / (1 - (0 + 71.998) / 5843.769)
=0.98986 / 0.98768
=1.0022

4. SGI = Sales Growth Index

Ratio of Revenue in year t to sales in year t-1.

Sales growth is not itself a measure of manipulation. However, growth companies are likely to find themselves under pressure to manipulate in order to keep up appearances.

SGI=Sales_t / Sales_t-1
=Revenue_t / Revenue_t-1
=13302.358 / 10081.899
=1.3194

5. DEPI = Depreciation Index

Measured as the ratio of the rate of Depreciation, Depletion and Amortization in year t-1 to the corresponding rate in year t.

DEPI greater than 1 indicates that assets are being depreciated at a slower rate. This suggests that the firm might be revising useful asset life assumptions upwards, or adopting a new method that is income friendly.

DEPI=(Depreciation_t-1 / (Depreciaton_t-1 + PPE_t-1)) / (Depreciation_t / (Depreciaton_t + PPE_t))
=(31.064 / (31.064 + 71.998)) / (29.18 / (29.18 + 94.194))
=0.301411 / 0.236517
=1.2744

Note: If the Depreciation, Depletion and Amortization data is not available, we assume that the depreciation rate is constant and set the Depreciation Index to 1.

6. SGAI = Sales, General and Administrative expenses Index

The ratio of Selling, General, & Admin. Expense(SGA) to Sales in year t relative to year t-1.

SGA expenses index > 1 means that the company is becoming less efficient in generate sales.

SGAI=(SGA_t / Sales_t) / (SGA_t-1 /Sales_t-1)
=(1727.188 / 13302.358) / (1511.019 / 10081.899)
=0.129841 / 0.149874
=0.8663

7. LVGI = Leverage Index

The ratio of total debt to Total Assets in year t relative to yeat t-1.

An LVGI > 1 indicates an increase in leverage

LVGI=((LTD_t + CurrentLiabilities_t) / TotalAssets_t) / ((LTD_t-1 + CurrentLiabilities_t-1) / TotalAssets_t-1)
=((430.876 + 0) / 9289.646) / ((299.749 + 0) / 5843.769)
=0.046382 / 0.051294
=0.9042

8. TATA = Total Accruals to Total Assets

Total accruals calculated as the change in working capital accounts other than cash less depreciation.

TATA=(IncomefromContinuingOperations_t - CashFlowsfromOperations_t) / TotalAssets_t
=(NetIncome_t - NonOperatingIncome_t - CashFlowsfromOperations_t) / TotalAssets_t
=(-39.426 - 0 - 2835.292) / 9289.646
=-0.309454

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator. An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

Oscar Health has a M-score of -3.61 suggests that the company is unlikely to be a manipulator.

Frequently Asked Questions Learn more about Beneish M-Score →
What does a Beneish M-Score of -3.61 mean?
Oscar Health (OSCR) has a Beneish M-Score of -3.61 as of Jul. 09, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Oscar Health and its competitors. According to the industry distribution chart, Oscar Health ranks #2 out of 18 companies in the Healthcare Plans industry, placing it in the top 11.1%.
Is Oscar Health's Beneish M-Score too high?
Oscar Health's current Beneish M-Score is -3.61. Based on the distribution chart, Oscar Health ranks #2 out of 18 companies in the Healthcare Plans industry, which is in the top quartile — a strong position relative to peers. Overall, Oscar Health has a GF Score™ of 74/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Oscar Health's Beneish M-Score compare to MOH and ALHC?
According to the Healthcare Plans industry distribution chart, Oscar Health ranks #2 out of 18 companies for Beneish M-Score. This places Oscar Health in the top 11% of its industry — outperforming the majority of peers. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Beneish M-Score for a Healthcare Plans company?
A good Beneish M-Score depends on the Healthcare Plans industry context. However, Beneish M-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Beneish M-Score mean?
A high Beneish M-Score can signal that a stock is expensive relative to its fundamentals. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Oscar Health and its competitors. Oscar Health's current Beneish M-Score is -3.61. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Oscar Health stock overvalued right now?
Based on GuruFocus' analysis, Oscar Health (OSCR) is currently considered Significantly Overvalued. The stock's GF Value™ is $21.26, compared to a current price of $30.81 — trading 44.9% above its estimated fair value. The current Beneish M-Score is -3.61. Oscar Health's overall GF Score™ is 74/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Beneish M-Score calculated?
Beneish M-Score is calculated from a company's financial statements. For Oscar Health (OSCR), the current Beneish M-Score is -3.61 as of Jul. 09, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Oscar Health (OSCR) Overvalued in 2026?

Based on GuruFocus' analysis, Oscar Health stock appears to be overvalued. The current stock price of $30.81 is trading 44.9% above its estimated GF Value™ of $21.26. GuruFocus considers Oscar Health to be Significantly Overvalued.

Key valuation signals for OSCR:

  • Beneish M-Score: -3.61
  • GF Value™: $21.26 vs. price of $30.81 (44.9% above fair value)
  • GF Score™: 74/100 with 5 warning signs

No single metric tells the full story. See the OSCR stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Oscar Health Business Description

Address 75 Varick Street, 5th Floor, New York, NY, USA, 10013
Oscar Health Inc is a healthcare technology company built around a full stack technology platform and a relentless focus on serving its members. It offers Individual & Family plans and health technology solutions that power the healthcare industry. Oscar operates as one segment to sell insurance to individuals, families and employees through the federal and state-run healthcare exchanges formed in conjunction with the Patient Protection and Affordable Care Act (ACA) and leverages its technology platform to provide services via its Oscar offering.
74GF Score

Get the complete analysis for OSCR

Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

$30.81
Price
$21.26
GF Value