Oncology Institute, Inc. (TOI) AI Stock Analysis

• Market Cap: $181.05M
• Dividend Yield: N/A
• Average Volume (3M): 836.15K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.28
• Revenue Growth: 21.33%
• EPS Growth: 23.37%
• Country: US
• Employees: 825
• Sector: Healthcare
• Sector Strength: 64
• Industry: Medical - Care Facilities
• EPS (TTM): -0.71
• Shares Outstanding: 75,753,230
• 10 Day Avg. Volume: 986,203
• 30 Day Avg. Volume: 836,151
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): 0.20
• Price to Cash Flow (P/CF): 23.00
• P/FCF Ratio: 44.90
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0

The Oncology Institute is experiencing robust revenue growth and strategic market expansion, but significant financial challenges persist. High leverage and negative margins weigh heavily, although technical indicators show strong upward momentum. Valuation metrics are weak due to profitability issues, emphasizing risks despite growth potential.

Oncology Institute, Inc. Business Overview & Revenue Model

Company Description

The Oncology Institute, Inc., an oncology company, provides medical oncology services in the United States. Its services include physician services, in-house infusion and dispensary, clinical trial services, radiation, outpatient stem cell transplants and transfusions programs, and patient support. The company also offers and manages clinical trial services, such as managing clinical trials, palliative care programs, and stem cell transplants services. It serves adult and senior cancer patients. The company operates 67 clinic locations. The Oncology Institute, Inc. was founded in 2007 and is based in Cerritos, California.

How the Company Makes Money

The Oncology Institute, Inc. makes money primarily through providing medical services to patients diagnosed with cancer. Its revenue model is based on billing for patient consultations, treatment sessions, and various oncology-related services. Revenue streams include payments from private insurance companies, government healthcare programs like Medicare and Medicaid, and direct payments from patients. TOI may also generate income through partnerships with pharmaceutical companies for clinical trials and research initiatives, although these are typically supplementary to its main revenue from clinical services. Additionally, TOI continuously seeks to expand its clinic network, which could contribute to increased patient volume and, subsequently, higher revenue.

Oncology Institute, Inc. Financial Statement Overview

Summary

The Oncology Institute faces significant challenges in profitability and financial stability. While revenue growth is strong, the company struggles with negative net income, EBIT margins, and high leverage, indicating financial risk.

Income Statement

The Oncology Institute shows a mix of growth and challenges. While revenue has grown significantly over the years, increasing by 21.34% from 2023 to TTM, profitability remains an issue with persistent negative net income and EBIT margins. Gross profit margin improved to 35.12% in TTM, indicating better cost management. However, negative EBIT and EBITDA margins, at -15.28% and -13.68% respectively, reflect ongoing operational challenges.

Balance Sheet

The balance sheet reveals a highly leveraged position with a debt-to-equity ratio of 8.37 in TTM, signaling potential financial risk. Stockholders' equity has drastically reduced to $3.59 million, contributing to a low equity ratio of 2.08%. Return on equity is negative, indicating inefficiencies in generating returns from shareholders' investments.

Cash Flow

Cash flow analysis highlights difficulties in cash generation, with negative operating and free cash flow in TTM. Despite improved free cash flow from 2023 to TTM, the operating cash flow to net income ratio remains negative, indicating cash flow issues. The firm needs to improve its cash management and operational profitability.

Breakdown
Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement		Total Revenue
393.41M	324.24M	252.48M	203.00M	187.51M
	Gross Profit
393.41M	59.57M	52.09M	40.85M	36.88M
	EBIT
-60.12M	-77.02M	-72.01M	-45.86M	-8.20M
	EBITDA
-53.83M	-70.45M	8.40M	-7.94M	-11.29M
	Net Income Common Stockholders
-64.66M	-83.07M	1.66M	-10.93M	-14.32M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
49.67M	82.86M	73.81M	114.30M	6.00M
	Total Assets
172.72M	209.24M	263.75M	203.44M	65.69M
	Total Debt
30.02M	119.67M	108.18M	183.00K	11.93M
	Net Debt
-19.65M	86.19M	94.17M	-114.12M	5.93M
	Total Liabilities
169.13M	152.22M	139.07M	99.28M	37.59M
	Stockholders Equity
3.59M	57.02M	124.68M	104.16M	28.10M
Cash Flow		Free Cash Flow
-30.33M	-40.88M	-67.28M	-35.73M	-685.88K
	Operating Cash Flow
-26.54M	-36.31M	-61.76M	-32.68M	508.24K
	Investing Cash Flow
46.21M	62.64M	-131.61M	-12.15M	-8.84M
	Financing Cash Flow
-3.49M	-6.85M	92.21M	154.01M	11.89M

Oncology Institute, Inc. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 2.39
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TOI, the sentiment is Positive. The current price of 2.39 is above the 20-day moving average (MA) of 1.61, above the 50-day MA of 1.15, and above the 200-day MA of 0.57, indicating a bullish trend. The MACD of 0.37 indicates Negative momentum. The RSI at 85.93 is Negative, neither overbought nor oversold. The STOCH value of 88.99 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TOI.

Oncology Institute, Inc. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
EHC	66 Neutral	$9.70B	21.56	24.52%	0.67%	11.91%	28.47%
SEM	65 Neutral	$1.99B	9.33	13.35%	2.67%	-0.63%	-13.10%
NHC	64 Neutral	$1.40B	13.82	10.79%	2.70%	15.25%	51.77%
ACHC	60 Neutral	$1.98B	7.74	8.73%	―	7.69%	―
Sector *	51 Neutral	$5.20B	3.18	-40.80%	2.96%	17.66%	1.94%
TOI	50 Neutral	$181.05M	―	-174.88%	―	21.33%	23.37%
CYH	41 Neutral	$347.95M	―	39.18%	―	1.16%	-278.41%

Oncology Institute, Inc. Corporate Events

Oncology Institute, Inc. Prepares for PIPE Financing

The Oncology Institute, Inc. has prepared an investor presentation to discuss a potential private placement of securities (PIPE Financing). The presentation is intended for qualified institutional buyers and accredited investors, emphasizing confidentiality and disclaiming any offer or solicitation of securities. The company highlights its unique market position and the significant growth potential in the oncology sector, driven by complex clinical pathways and high-cost drugs. The Institute’s integrated approach aims to reduce patient healthcare costs and improve access to cutting-edge treatments.

Oncology Institute Amends Facility Agreement with Deerfield

On February 26, 2025, The Oncology Institute, Inc. announced an amendment to its facility agreement with Deerfield Management, removing certain financial restrictions and paying down $20 million of convertible notes. This move strengthens TOI’s financial position, enabling it to focus on growth initiatives, including new capitation agreements covering 80,000 lives in California, Nevada, and Florida, and expanding its value-based agreements in Florida to over 200,000 lives.