Teladoc Health, Inc. (TDOC) Stock

Teladoc Health, Inc. (TDOC) is a Healthcare stock trading at $6.48 (as of 2026-08-20), with a market capitalization of $1.17B. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Teladoc Health, Inc. provides virtual healthcare services in the United States and internationally. The company offers a portfolio of services and solutions covering non-urgent, episodic, chronic, and complicated medical conditions, including diabetes, hypertension, chronic kidney disease, cancer, congestive heart failure, and mental health conditions. It offers a range of programs and services, including primary and specialty care telehealth solutions, chronic condition management, expert medical services, mental health solutions, and platform and program services. The company serves employers, health plans, hospitals and health systems, and insurance and financial services companies, as well as individual members. It offers its products and services under the Teladoc, Livongo, and BetterHelp brands. The company was formerly known as Teladoc, Inc. and changed its name to Teladoc Health, Inc. in August 2018. The company was incorporated in 2002 and is headquartered in Purchase, New York.

Understand Teladoc Health, Inc.: how it makes money

Teladoc Health provides virtual healthcare services, including primary and specialty care telehealth, chronic condition management, and mental health programs, and it makes money primarily from access fee revenue and also from visit fee revenue.

Most revenue is tied to access fees (0.48B), while visit fees (0.07B) depend on care utilization, so trends in monetizing member access versus actual clinician network visits, reflected by the Annualized Utilization Rate (22.7%), are central to outcomes.

Revenue by segment (latest quarter)
US	$0.5B
Intl	$0.1B

Business quality (Weak): Good visibility into key revenue streams (access fees vs visit fees) and several operating indicators (member growth and utilization), but the reportable segment view available here is geographic (United States vs International) rather than by main service line, limiting clarity on which programs drive the quarter.

Bull case

Member growth: Net New Telemedicine Members was 1,200,000.
Recurring-style revenue component: Access Fee Revenue was 0.48B, larger than Visit Fee Revenue of 0.07B.
Higher engagement from multi-program participation: One-Year Member Retention Uplift for Multi-Program Enrollment was 10%.

Bear case

Profitability pressure: Operating margin was -10.1 for the period shown (2026-03-31).
Revenue mix suggests limited contribution from visits: Visit Fee Revenue was 0.07B versus Access Fee Revenue of 0.48B, so weaker utilization can be a headwind.
Utilization is a key swing factor: The Annualized Utilization Rate was 22.7%, and Clinician Network Visits were 4,400,000, both of which tie care activity to revenue.

Valuation — source: SEC EDGAR (first-party)
Price	$6.48
Market Cap	$1.17B
Price / Book	0.89
Price / Sales	0.47
FCF Yield	21.7%
DCF Value (model)	$28.12
DCF Upside vs Price	334.0%

Profitability & Growth — source: SEC EDGAR
Revenue (TTM)	$2.53B
Net Margin	-7.9%
Revenue Growth (YoY)	-4.0%
EPS Growth (YoY)	10.5%
FCF Growth (YoY)	-29.3%

Financial Health — source: SEC EDGAR
Altman Z-Score	-6.70 (distress)

Valuation vs Sector & Industry
Sector P/E (Healthcare)	21.6
Industry P/E (Healthcare Services)	25.3

Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional Holder	VANGUARD GROUP INC ($150.39M)
Institutional Holders Tracked	10
Congressional Trades (recent)	4

Company
Sector	Healthcare
Industry	Healthcare Services
CEO	Charles Divita
Employees	4,620
Country	US
IPO Date	2015-06-30

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Data as of 2026-08-20.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.