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TDOC
Teladoc Health, Inc. · Healthcare
$8.07
+22.09% this month
VERSUS
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COMPARE
AMWL
Amwell (American Well Corporation) · Healthcare
$8.43
+7.66% this month
Scoreboard verdict
Across AI score, momentum, valuation, upside, operating margin
TDOC
3
AMWL
1
Comparison scoreboard
TDOC LEADS 3/5AI Score
TDOC ✓24.4
AMWL 22.0
1Y Return
TDOC +15.12%
AMWL ✓+23.79%
Fwd P/E
TDOC ✓-12.46
AMWL -5.02
Target Up.
TDOC ✓-8.30%
AMWL -11.03%
Op. Margin
TDOC N/A
AMWL N/A
Metrics last refreshed: 6/20/2026
Quick take
TDOC vs AMWL Stock Comparison: AI Score, Valuation, Performance and Upside
TDOC and AMWL are both telehealth companies that soared during COVID and have faced significant post-pandemic headwinds. Teladoc is larger, with BetterHelp's mental health platform and enterprise health plan distribution providing a more diversified business. Amwell is smaller, with a B2B infrastructure model serving health systems that has faced severe post-COVID revenue declines. Both are unprofitable — Teladoc is closer to breakeven; Amwell faces more acute balance sheet pressure.
TDOC vs AMWL — Teladoc Health (the largest US telehealth company combining BetterHelp mental health with enterprise virtual care for 90M+ members, navigating post-pandemic growth normalization and a path to EBITDA profitability) versus Amwell (the B2B telehealth infrastructure provider enabling health systems to deploy branded virtual care, facing severe post-COVID revenue declines and cash burn challenges).
Live analysis · updated 6/20/2026
TDOC holds the edge across 3 of 5 key metrics in this comparison. AMWL has delivered stronger 1-year price return (+23.79% vs +15.12%), though TDOC trades at the lower forward P/E (-12.46x vs -5.02x). Analyst consensus implies similar upside for both: -8.30% for TDOC and -11.03% for AMWL.
Normalized 1Y performance
TDOC
AMWL
Recent returns
TDOC
AMWL
Analyst price targets & sentiment
TDOC · 20 analysts
STRONG BUYHOLDSTRONG SELL
Buy (2.5/5.0)
Price target range
analyst low$5.00
analyst high$10.00
analyst mean$7.40
current price$8.07
-8.3% upside to analyst mean
AMWL · 5 analysts
STRONG BUYHOLDSTRONG SELL
Hold (2.7/5.0)
Price target range
analyst low$6.50
analyst high$9.00
analyst mean$7.50
current price$8.43
-11.0% upside to analyst mean
Who should consider this stock?
TDOC may suit investors who:
- →see BetterHelp's mental health platform as a structurally valuable asset — online therapy demand is permanently elevated post-pandemic and Teladoc has scale and therapist supply advantages
- →believe Teladoc's enterprise health plan distribution (90M+ members) creates a defensible B2B recurring revenue base that consumer-facing competitors cannot easily replicate
- →want a high-risk telehealth recovery investment with meaningful revenue scale and a more defined path to profitability vs Amwell's deeper challenges
- →are comfortable with BetterHelp consumer subscriber deceleration, prior goodwill impairment damage to management credibility, and a long timeline to sustained profitability
AMWL may suit investors who:
- →believe Amwell's B2B white-label telehealth infrastructure model serves a real market need for hospitals and health plans wanting branded virtual care without building in-house
- →see Amwell's Converge platform modernization as the foundation for higher-value enterprise contracts and a path to profitability under significant cost restructuring
- →want a speculative turnaround investment at a significantly lower market cap than Teladoc, with high upside if healthcare IT spending in telehealth infrastructure recovers
- →are comfortable with deep operating losses, potential need for additional capital raises, and significant uncertainty about whether Amwell's revenue trajectory can reverse post-pandemic declines
Performance & AI score
| Metric | TDOC | AMWL |
|---|---|---|
| AI score | 24.4 | 22.0 |
| AI rank | #3131 | #4430 |
| Latest close | $8.07 | $8.43 |
| 1M return | +22.09% | +7.66% |
| 6M return | +11.31% | +79.36% |
| 1Y return | +15.12% | +23.79% |
$10,000 invested — hypothetical growth (dividends reinvested)
How much would $10,000 be worth today if invested at the start of each period, with all dividends reinvested?
| Period | TDOC | AMWL |
|---|---|---|
| 1Y ago | $11.51K (+15.1%) started 2025-06-18 | $12.38K (+23.8%) started 2025-06-18 |
| 5Y ago | $516.28 (-94.8%) started 2021-06-18 | $312.69 (-96.9%) started 2021-06-18 |
| 10Y ago | $6.23K (-37.7%) started 2016-06-20 | $182.7 (-98.2%) started 2020-09-17 |
Hypothetical — past performance does not guarantee future results.
Valuation & upside potential
| Metric | TDOC | AMWL |
|---|---|---|
| Market cap | $1.46B | $140.85M |
| Trailing P/E | N/A | N/A |
| Forward P/E | -12.46 | -5.02 |
| Price/Sales | 0.58 | 0.59 |
| EV/Revenue | 0.66 | -0.08 |
| Analyst target | $7.40 | $7.50 |
| Target upside | -8.30% | -11.03% |
Growth, profitability & risk
| Metric | TDOC | AMWL |
|---|---|---|
| Revenue growth | -2.50% | -17.90% |
| Earnings growth | N/A | N/A |
| EPS growth | N/A | N/A |
| FCF margin | +8.28% | -4.96% |
| Operating margin | N/A | N/A |
| Profit margin | -6.81% | -37.02% |
| ROIC proxy | -12.39% | -31.84% |
| Return on equity | -12.39% | -31.84% |
| Dividend yield | 0.00% | 0.00% |
| Beta | 2.14 | 1.70 |
| Debt/equity | 77.68 | 1.65 |
| Current ratio | 2.80 | 3.09 |
| Quick ratio | 2.40 | 2.83 |
Drawdown & downside risk
Lower drawdown and smaller single-period drops generally indicate a smoother ride, though they do not guarantee lower future risk.
1Y risk snapshot
TDOC max drawdown52.75%
AMWL max drawdown57.81%
TDOC max wkly drop17.02%
AMWL max wkly drop22.77%
5Y risk snapshot
TDOC max drawdown97.39%
AMWL max drawdown98.62%
TDOC max wkly drop43.25%
AMWL max wkly drop38.27%
10Y risk snapshot
TDOC max drawdown98.48%
AMWL max drawdown99.56%
TDOC max wkly drop43.25%
AMWL max wkly drop38.27%
Performance metrics by period
| Period | Metric | TDOC | AMWL |
|---|---|---|---|
| 1Y | Growth | +15.12% | +23.79% |
| CAGR | +15.13% | +23.81% | |
| Sharpe ratio | 0.45 | 0.57 | |
| Max drawdown | 52.75% | 57.81% | |
| Max daily drop | 9.60% | 10.50% | |
| Max wkly drop | 17.02% | 22.77% | |
| 5Y | Growth | -94.84% | -96.87% |
| CAGR | -44.72% | -50.00% | |
| Sharpe ratio | -0.68 | -0.59 | |
| Max drawdown | 97.39% | 98.62% | |
| Max daily drop | 40.15% | 23.08% | |
| Max wkly drop | 43.25% | 38.27% | |
| 10Y | Growth | -37.68% | -98.17% |
| CAGR | -4.62% | -50.15% | |
| Sharpe ratio | 0.15 | -0.57 | |
| Max drawdown | 98.48% | 99.56% | |
| Max daily drop | 40.15% | 23.08% | |
| Max wkly drop | 43.25% | 38.27% |
Business comparison
| Category | TDOC | AMWL |
|---|---|---|
| Company | Teladoc Health, Inc. | Amwell (American Well Corporation) |
| Sector | Healthcare | Healthcare |
| Industry | N/A | N/A |
| Core business | Teladoc Health is the largest US telehealth company providing virtual care across general medicine, mental health (BetterHelp), chronic condition management (Livongo), and specialty care. BetterHelp — Teladoc's direct-to-consumer mental health therapy platform — is the largest online therapy marketplace globally. Teladoc serves 90M+ members through enterprise health plan contracts and the direct-to-consumer BetterHelp subscription. Teladoc took a $9.6B goodwill impairment on the Livongo acquisition in 2022, crystallizing the over-payment made at peak pandemic valuations. | Amwell is a telehealth platform providing white-label virtual care infrastructure to health systems, health plans, and employers. Unlike Teladoc's B2C model (BetterHelp), Amwell primarily enables healthcare organizations to build their own branded telehealth experiences on Amwell's cloud platform. Amwell serves 55+ health plan customers and 150+ health systems. The company has faced significant revenue headwinds as health systems that deployed telehealth during COVID reduced utilization post-pandemic. Amwell has pivoted to an enterprise software model (Converge platform) but remains unprofitable with a challenging path to profitability. |
| Investor focus | Investors focus on BetterHelp subscriber trends, enterprise virtual care contract renewals, path to EBITDA profitability, and the strategic value of Teladoc's integrated physical + mental health platform. | Investors focus on Amwell's Converge platform adoption, enterprise contract renewals, cost restructuring, and whether the B2B telehealth infrastructure market has enough demand to support Amwell's path to viability. |
TDOC strengths
- →BetterHelp mental health scale: the largest online therapy platform globally with 4M+ paid subscribers — mental health demand is structurally elevated post-pandemic with chronic underservice by traditional healthcare
- →Enterprise health plan distribution: Teladoc's 90M+ enterprise members provide a large B2B revenue base more resilient than direct-to-consumer — employers and health plans embed Teladoc benefits
- →Integrated whole-person health: Teladoc's combination of primary care, mental health, and chronic disease management creates a unified virtual care platform vs point solutions
AMWL strengths
- →White-label B2B model avoids consumer competition: Amwell's enterprise platform model doesn't compete with consumer telehealth brands — hospitals and health plans use Amwell infrastructure for their own branded services
- →Health system relationships: Amwell's 150+ health system customers represent established relationships with major US hospital systems — healthcare incumbents prefer trusted technology partners
- →Converge platform modernization: Amwell's rebuilt cloud-native Converge platform offers improved capabilities vs legacy video-only telehealth — the transition positions Amwell for higher-value enterprise contracts
Risks to watch — TDOC
- →BetterHelp subscriber deceleration: BetterHelp's direct-to-consumer growth has slowed significantly from pandemic highs as CAC increased and marketing efficiency declined — subscribers have declined from peak
- →Livongo goodwill impairment overhang: the $9.6B impairment crystallized massive value destruction from Teladoc's peak-pandemic M&A strategy — management credibility was damaged
- →Competition from Amazon Clinic, CVS Health, and UnitedHealth: major healthcare incumbents have launched competing telehealth services embedded in their distribution networks — eroding Teladoc's B2B advantage
Risks to watch — AMWL
- →Severe revenue headwinds post-COVID: Amwell's revenue has declined significantly from pandemic peaks as health systems and plans reduced telehealth utilization — COVID was a one-time adoption catalyst, not sustainable growth
- →Deep operating losses and cash burn: Amwell burns significant cash annually — balance sheet sustainability is the primary investment risk as the company has not demonstrated a path to profitability
- →Market consolidation risk: the B2B telehealth infrastructure market is consolidating around larger platforms — Amwell's small scale vs Microsoft Teams Health, Google Health, and Amazon Clinic is a competitive concern
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