(TOI) Oncology Institute - Overview
Exchange: NASDAQ •
Country: United States •
Currency: USD •
Type: Common Stock •
ISIN: US68236X1000
Stock: Oncology Services, Clinical Trials, Patient Care
Total Rating 45
Risk 43
Buy Signal -0.58
EPS (Earnings per Share)
Revenue
| Risk 5d forecast | |
|---|---|
| Volatility | 96.6% |
| Relative Tail Risk | -10.7% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 1.48 |
| Alpha | 185.01 |
| Character TTM | |
|---|---|
| Beta | 1.580 |
| Beta Downside | 0.938 |
| Drawdowns 3y | |
|---|---|
| Max DD | 94.82% |
| CAGR/Max DD | 0.23 |
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 |
| FCF/TA: -0.17 > 0.02 and ΔFCF/TA 4.11 > 1.0 |
| NWC/Revenue: 9.65% < 20% (prev 18.39%; Δ -8.73% < -1%) |
| CFO/TA -0.14 > 3% & CFO -23.6m > Net Income -66.3m |
| Net Debt/EBITDA: error (EBITDA <= 0) |
| Current Ratio: 1.68 > 1.5 & < 3 |
| Outstanding Shares: last quarter (974.7m) vs 12m ago 1191 % < -2% |
| Gross Margin: 14.82% > 18% (prev 0.14%; Δ 1467 % > 0.5%) |
| Asset Turnover: 269.0% > 50% (prev 211.5%; Δ 57.50% > 0%) |
| Interest Coverage Ratio: -4.92 > 6 (EBITDA TTM -44.8m / Interest Expense TTM 10.5m) |
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 -263.9m / Total Assets 163.6m) |
| 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) |
| Altman-Z'' Score: -7.08 = D |
Beneish M -3.31
| DSRI: 0.90 (Receivables 60.0m/54.9m, Revenue 461.0m/378.9m) |
| GMI: 0.96 (GM 14.82% / 14.18%) |
| AQI: 0.91 (AQ_t 0.12 / AQ_t-1 0.13) |
| SGI: 1.22 (Revenue 461.0m / 378.9m) |
| TATA: -0.26 (NI -66.3m - CFO -23.6m) / TA 163.6m) |
| Beneish M-Score: -3.31 (Cap -4..+1) = AA |
What is the price of TOI shares?
As of February 08, 2026, the stock is trading at USD 2.61 with a total of 1,546,957 shares traded.
Over the past week, the price has changed by -3.69%, over one month by -36.80%, over three months by -31.50% and over the past year by +193.85%.
Over the past week, the price has changed by -3.69%, over one month by -36.80%, over three months by -31.50% and over the past year by +193.85%.
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.
- StrongBuy: 1
- Buy: 0
- Hold: 0
- Sell: 0
- StrongSell: 0
What are the forecasts/targets for the TOI price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 7 | 168.2% |
| Analysts Target Price | 7 | 168.2% |
| ValueRay Target Price | 2.5 | -3.8% |
TOI Fundamental Data Overview February 02, 2026
P/S = 0.5783
P/B = 0.7617
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)
EV/FCF = -10.45x (Enterprise Value 287.7m / FCF TTM -27.5m)
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 = 21.0% (US default 21%)
NOPAT = -40.9m (EBIT -51.8m * (1 - 21.00%)) [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 = -38.67% (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 = -53.58% (negative operating profit) (NOPAT -40.9m / Invested Capital 76.4m)
WACC = 11.20% (E(288.0m)/V(315.4m) * Re(11.74%) + D(27.4m)/V(315.4m) * Rd(7.02%) * (1-Tc(0.21)))
Discount Rate = 11.74% (= 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: 2.81 | # 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%
P/B = 0.7617
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)
EV/FCF = -10.45x (Enterprise Value 287.7m / FCF TTM -27.5m)
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 = 21.0% (US default 21%)
NOPAT = -40.9m (EBIT -51.8m * (1 - 21.00%)) [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 = -38.67% (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 = -53.58% (negative operating profit) (NOPAT -40.9m / Invested Capital 76.4m)
WACC = 11.20% (E(288.0m)/V(315.4m) * Re(11.74%) + D(27.4m)/V(315.4m) * Rd(7.02%) * (1-Tc(0.21)))
Discount Rate = 11.74% (= 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: 2.81 | # 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%