Overview Dividends

(TOI) Oncology Institute - Ratings and Ratios

Exchange: NASDAQ • Country: United States • Currency: USD • Type: Common Stock • ISIN: US68236X1000

Oncology Services, Clinical Trials, Patient Care

Health Care Equipment
Market Cap in USD: 288m
IPO / Inception: 2021-11-15
Return 12m vs S&P 500: 966%

EPS (Earnings per Share)

EPS (Earnings per Share) of TOI over the last years for every Quarter: "2020-12": -0.01, "2021-03": 0.2, "2021-06": -0.21, "2021-09": -0.02, "2021-12": -0.14, "2022-03": 0.25, "2022-06": -0.09, "2022-09": -0.25, "2022-12": -0.25, "2023-03": -0.33, "2023-06": -0.19, "2023-09": -0.19, "2023-12": -0.21, "2024-03": -0.22, "2024-06": -0.17, "2024-09": -0.1751, "2024-12": -0.143, "2025-03": -0.2085, "2025-06": -0.15, "2025-09": -0.14, "2025-12": 0,
EPS CAGR: -13.42%
EPS Trend: -8.3%
Last SUE: 2.40
Qual. Beats: 1

Revenue

Revenue of TOI over the last years for every Quarter: 2020-12: 48.966, 2021-03: 48.58, 2021-06: 49.844, 2021-09: 52.275, 2021-12: 52.304, 2022-03: 55.161, 2022-06: 60.921, 2022-09: 64.977, 2022-12: 71.424, 2023-03: 76.192, 2023-06: 80.224, 2023-09: 82.035, 2023-12: 85.788, 2024-03: 94.666, 2024-06: 98.578, 2024-09: 99.901, 2024-12: 100.267, 2025-03: 104.406, 2025-06: 119.802, 2025-09: 136.564, 2025-12: null,
Rev. CAGR: 29.17%
Rev. Trend: 98.5%
Last SUE: 0.10
Qual. Beats: 0

Dividends

Currently no dividends paid
Risk via 5d forecast
Volatility 88.0%
Value at Risk 5%th 129%
Relative Tail Risk -10.64%
Reward TTM
Sharpe Ratio 2.75
Alpha 972.86
CAGR/Max DD 0.44
Character TTM
Hurst Exponent 0.607
Beta 1.606
Beta Downside 1.250
Drawdowns 3y
Max DD 94.82%
Mean DD 45.28%
Median DD 41.96%

Description: TOI Oncology Institute December 31, 2025

The Oncology Institute, Inc. (NASDAQ:TOI) operates a vertically integrated network of oncology services across three segments-Dispensary, Patient Services, and Clinical Trials & Other-delivering physician-led care, in-house infusion, radiation, blood-product transfusion, and comprehensive patient-support programs for adult and senior cancer patients in the United States.

According to its most recent Form 10-K, TOI generated approximately $115 million in revenue for FY 2023, with a 12 % operating margin and a cash balance of $38 million, reflecting modest profitability in a sector where outpatient infusion and specialty pharmacy services are expanding at a 7-8 % CAGR driven by an aging population and rising cancer incidence.

Key economic drivers for TOI include Medicare’s increasingly favorable reimbursement for outpatient oncology care, the growing demand for clinical-trial infrastructure from pharma and med-tech firms, and the broader shift toward decentralized, community-based cancer treatment models that improve patient convenience while reducing hospital costs.

For a deeper quantitative assessment, you may find the ValueRay platforms TOI dashboard useful.

Piotroski VR‑10 (Strict, 0-10) 2.5

Net Income (-66.3m TTM) > 0 and > 6% of Revenue (6% = 27.7m TTM)
FCFTA -0.17 (>2.0%) and ΔFCFTA 4.11pp (YES ≥ +1.0pp, WARN ≥ +0.5pp)
NWC/Revenue 9.65% (prev 18.39%; Δ -8.73pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp)
CFO/TA -0.14 (>3.0%) and CFO -23.6m > Net Income -66.3m (YES >=105%, WARN >=100%)
NO Net Debt/EBITDA fails (EBITDA <= 0)
Current Ratio 1.68 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active)
Outstanding Shares last Quarter (974.7m) change vs 12m ago 1191 % (target <= -2.0% for YES)
Gross Margin 14.82% (prev 14.18%; Δ 0.63pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0)
Asset Turnover 269.0% (prev 211.5%; Δ 57.50pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0)
Interest Coverage Ratio -4.92 (EBITDA TTM -44.8m / Interest Expense TTM 10.5m) >= 6 (WARN >= 3)

Altman Z'' -7.08

(A) 0.27 = (Total Current Assets 110.1m - Total Current Liabilities 65.6m) / Total Assets 163.6m
(B) -1.61 = Retained Earnings (Balance) -263.9m / Total Assets 163.6m
warn (B) unusual magnitude: -1.61 — check mapping/units
(C) -0.30 = EBIT TTM -51.8m / Avg Total Assets 171.4m
(D) -1.50 = Book Value of Equity -263.9m / Total Liabilities 175.9m
Total Rating: -7.08 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D)

ValueRay F-Score (Strict, 0-100) 34.95

1. Piotroski 2.50pt
2. FCF Yield -9.57%
3. FCF Margin -5.97%
4. Debt/Equity -2.23
5. Debt/Ebitda 0.01
6. ROIC - WACC (= -79.33)%
7. RoE data missing
8. Rev. Trend 98.50%
9. EPS Trend -8.27%

What is the price of TOI shares?

As of January 08, 2026, the stock is trading at USD 4.07 with a total of 2,560,290 shares traded.
Over the past week, the price has changed by +14.33%, over one month by +27.99%, over three months by +6.54% and over the past year by +1163.98%.

Is TOI a buy, sell or hold?

Oncology Institute has received a consensus analysts rating of 5.00. Therefore, it is recommended to buy TOI.
  • Strong Buy: 1
  • Buy: 0
  • Hold: 0
  • Sell: 0
  • Strong Sell: 0

What are the forecasts/targets for the TOI price?

Issuer Target Up/Down from current
Wallstreet Target Price 7 72%
Analysts Target Price 7 72%
ValueRay Target Price 3.5 -13.5%

TOI Fundamental Data Overview January 02, 2026

Market Cap USD = 288.0m (288.0m USD * 1.0 USD.USD)
P/S = 0.7597
P/B = 0.7617
Beta = 0.159
Revenue TTM = 461.0m USD
EBIT TTM = -51.8m USD
EBITDA TTM = -44.8m USD
Long Term Debt = 76.2m USD (from longTermDebt, last quarter)
Short Term Debt = 7.16m USD (from shortTermDebt, last quarter)
Debt = 27.4m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = -302.0k USD (from netDebt column, last quarter)
Enterprise Value = 287.7m USD (288.0m + Debt 27.4m - CCE 27.7m)
Interest Coverage Ratio = -4.92 (Ebit TTM -51.8m / Interest Expense TTM 10.5m)
FCF Yield = -9.57% (FCF TTM -27.5m / Enterprise Value 287.7m)
FCF Margin = -5.97% (FCF TTM -27.5m / Revenue TTM 461.0m)
Net Margin = -14.38% (Net Income TTM -66.3m / Revenue TTM 461.0m)
Gross Margin = 14.82% ((Revenue TTM 461.0m - Cost of Revenue TTM 392.7m) / Revenue TTM)
Gross Margin QoQ = 13.85% (prev 14.61%)
Tobins Q-Ratio = 1.76 (Enterprise Value 287.7m / Total Assets 163.6m)
Interest Expense / Debt = 7.02% (Interest Expense 1.92m / Debt 27.4m)
Taxrate = -0.0% (0.0 / -16.5m)
NOPAT = -51.8m (EBIT -51.8m * (1 - -0.00%)) [loss with tax shield]
Current Ratio = 1.68 (Total Current Assets 110.1m / Total Current Liabilities 65.6m)
Debt / Equity = -2.23 (negative equity) (Debt 27.4m / totalStockholderEquity, last quarter -12.3m)
Debt / EBITDA = 0.01 (negative EBITDA) (Net Debt -302.0k / EBITDA -44.8m)
Debt / FCF = 0.01 (negative FCF - burning cash) (Net Debt -302.0k / FCF TTM -27.5m)
Total Stockholder Equity = -3.15m (last 4 quarters mean from totalStockholderEquity)
RoA = -40.51% (Net Income -66.3m / Total Assets 163.6m)
RoE = 2104 % (out of range, set to none) (Net Income TTM -66.3m / Total Stockholder Equity -3.15m)
RoCE = -70.95% (EBIT -51.8m / Capital Employed (Equity -3.15m + L.T.Debt 76.2m))
RoIC = -67.82% (negative operating profit) (NOPAT -51.8m / Invested Capital 76.4m)
WACC = 11.50% (E(288.0m)/V(315.4m) * Re(11.93%) + D(27.4m)/V(315.4m) * Rd(7.02%) * (1-Tc(-0.0)))
Discount Rate = 11.93% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 100.0 | Cagr: 264.2%
Fair Price DCF = unknown (Cash Flow -27.5m)
EPS Correlation: -8.27 | EPS CAGR: -13.42% | SUE: 2.40 | # QB: 1
Revenue Correlation: 98.50 | Revenue CAGR: 29.17% | SUE: 0.10 | # QB: 0
EPS next Quarter (2026-03-31): EPS=-0.09 | Chg30d=-0.005 | Revisions Net=-1 | Analysts=2
EPS next Year (2026-12-31): EPS=-0.28 | Chg30d=+0.015 | Revisions Net=-1 | Growth EPS=+48.6% | Growth Revenue=+19.2%

Additional Sources for TOI Stock

News: Wall Street Journal | Benzinga | Yahoo Finance
Tweets: X | Stocktwits
Fund Manager Positions: Dataroma | Stockcircle