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HIMS & HERS HEALTH, INC.

HIMS · Healthcare · $7.3B mkt cap · FY2025 filings · Narrow moat ·

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Narrow moat
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The five investor questions

85

2021–2025 (latest 5 aligned FYs; v3 window cap 5): revenue $272M to $2.3B, increasing; diluted EPS -0.58 to 0.51, increasing.

89

Median gross margin 75.2% over 7y, stable.

14

Median ROIC -9.4%, above the 12% hurdle in 40% of years.

100

Net cash position — no leverage risk.

24

Owner earnings changed trend unclear over up to the ten most recent annual observations.

Price vs. value if growth stopped today

A cautious baseline, not a price target: what the shares may support if normalized owner earnings simply hold steady.

Above value if growth stopped todayBelow value if growth stopped today
No price data
Not reported
Unavailable — insufficient owner-earnings data
Unavailable — insufficient growth-model data
$28.09
No price data

This zero-growth estimate assumes trailing owner earnings persist — unreliable for declining businesses. The recent FY revenue series does not trigger the three-consecutive-declines flag.

Among the current top-score group, the median current price is 239% above the zero-growth estimate across 48 of the current top 50 companies by Moat Score with both values.

Score records captured Jul 26, 2026.

Exactly which 50 companies?

FTNT, META, MEDP, IBEX, MSFT, GOOGL, LULU, ANF, IDXX, TXRH, FHI, QLYS, FFIV, ADBE, LLY, MANH, VEEV, GRMN, SSD, MNST, DOCS, MCO, CPRT, NTAP, LRCX, NVDA, CORT, SFM, MPTI, ULTA, SN, RMD, ROL, PAYC, IRMD, INTU, DECK, MORN, LGCY, DAL, GWW, ISRG, MPWR, CTAS, LOPE, MRK, CMG, FAST, BKNG, ORLY

Missing a usable price or zero-growth estimate: ANF, BKNG.

Model details under moat-index@3.0.0: zero-growth multiple 11.1×, capped-growth comparison at no more than 18×; 9% discount rate; high-end growth 0% (capped at 4%) using min(5y revenue CAGR, 5y diluted-EPS CAGR), clamped to 0%–4%; maintenance capex uses min(capex, D&A); abstain when D&A is unavailable. This is a disclosed model range, not intrinsic value as fact.

8 years of fundamentals

The business, in plain English

HIMS & HERS HEALTH, INC. booked $2.3B of revenue in FY2025 in the Healthcare sector and kept 73.8% of it as gross profit — a high-margin business by that measure. After every other cost, 5.5% of each revenue dollar reached the bottom line.

Across the filed record, revenue grew from $82.6M (FY2019) to $2.3B (FY2025) — about 74.7% a year compounded over 6 years.

It earned 33.8% on invested capital in the latest filed year, FY2025. Across the full 5-year measurable filed record, median ROIC was −9.4%. Over the v3 recent window (5 measurable filed years), median ROIC was −9.4%. The Returns on Capital filter above scores it 14/100.

HIMS's latest filed year, FY2025, doesn't disclose total debt in a form the methodology can use, so current leverage is treated as unmeasured — never assumed to be zero.

Put together: Balance-Sheet Safety is the strongest of the five filters (100/100) and Returns on Capital the weakest (14/100), which is how HIMS lands at 63/100 — a Narrow moat.

This breakdown is generated from the filed numbers and sub-scores above — no outside narrative, no estimates. Where a filing doesn’t disclose an input, the sentence that would need it is omitted instead of guessed.

FY2018–FY2025 · 8 fiscal years, normalized from HIMS’s SEC filings

Sales, as filed$2.3B FY2025
$0$1B$2B201820212025
Revenue kept after cost of goods73.8% FY2025
0%50%201820212025
Standard ROIC or separately labeled Operating ROICROIC 33.8% FY2025
0%201820212025
Cash an owner could take out$128M FY2025
−$100M$0$100M201820212025

Gaps in a line mean that item isn’t in HIMS’s filings for that year. The series is never interpolated or estimated. The Table view lists every filed value, including operating and net margins, total debt, and share count.

Flagship explainer

How HIMS & HERS HEALTH, INC. makes its money

Start with a dollar of revenue and follow what the filing says remains.

revenueBranching filed flows with values and percentages directly labeled. Missing filing concepts are omitted rather than estimated.Revenue$2.3B · 100%Cost of revenue$614M · 26%Gross profit$1.7B · 74%Operating income$106M · 4%Income before tax$124M · 5%Income tax−$4.4M · −0%Net income$128M · 5%As of 2025-12-31 · 1 SEC filing sourceBuy Like Buffett · buylikebuffett.com

Honest partial: the filing did not provide a normalized tag for Research and development, Selling, general and administrative; those components are omitted, not plugged.

Table alternative
Filed lineValue% of revenueSource
$2.3B100%
Cost of revenue$614M26%
$1.7B74%
$106M4%
Income before tax$124M5%
Income tax−$4.4M−0%
$128M5%
Source: · event Dec 31, 2025 · retrieved Jul 26, 2026 · annual-row source set
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Flagship explainer

What HIMS & HERS HEALTH, INC. owns — and owes

HIMS & HERS HEALTH, INC.'s filing tags don't support a full breakdown — here's what is filed:

Table alternative
Filed lineValue% of assetsSource
Total assets$2.2B100%
Cash and equivalents$229M11%
Stockholders’ equity$541M25%
Source: · event Dec 31, 2025 · retrieved Jul 26, 2026 · annual-row source set

Flagship explainer

What drives HIMS & HERS HEALTH, INC.’s return on equity?

ROE is five filed business factors multiplied together.

DuPont return on equity factor treeReturn on equity branches into tax burden, interest burden, operating margin, asset turnover, and the equity multiplier.Return on equity25%Tax burden104%net income ÷ pretax incomeInterest burden117%pretax ÷ operating incomeOperating margin4%operating income ÷ revenueAsset turnover1.64×revenue ÷ average assetsEquity multiplier2.81×average assets ÷ average equityAs of 2025-12-31 · 1 SEC filing sourceBuy Like Buffett · buylikebuffett.com
DuPont source inputs
InputValueFiscal yearSource
$128MFY2025
Income before tax$124MFY2025
Operating income$106MFY2025
$2.3BFY2025
Ending assets$2.2BFY2025
Beginning assets$708MFY2024
$541MFY2025
$477MFY2024
Source:
  • SEC filingFiling detailsAccession 0001773751-26-000022
· event Dec 31, 2025 · retrieved Jul 26, 2026 · annual-row source set
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Flagship explainer

Where HIMS & HERS HEALTH, INC.'s cash went

HIMS & HERS HEALTH, INC.’s filing does not supply enough provenance-matched cash-flow lines for a truthful flow chart — here’s what is filed:

Table alternative
Filed lineValue% of cash from operationsSource
Cash from operations$300M100%
Depreciation and amortization$54.5M18%
Source: · event Dec 31, 2025 · retrieved Jul 26, 2026 · annual-row source set

Curated 19-manager tier

Who reported holding HIMS & HERS HEALTH, INC.

Delayed public 13F reports for 2026-Q2—not live positions, trades, or recommendations.

0 holding0 exited1 not holding1/19 resolved18 unavailable

Named manager positions and quarter-over-quarter changes
ManagerReported positionQuarter-over-quarterFiling accession
Markel / Markel-GaynerNo position reportedNo position reported
Abrams CapitalUnavailableComparison unavailableFiling unavailable
Akre CapitalUnavailableComparison unavailableFiling unavailable
Baupost GroupUnavailableComparison unavailableFiling unavailable
Berkshire HathawayUnavailableComparison unavailableFiling unavailable
Brave Warrior AdvisorsUnavailableComparison unavailableFiling unavailable
Dodge & CoxUnavailableComparison unavailableFiling unavailable
First EagleUnavailableComparison unavailableFiling unavailable
FundsmithUnavailableComparison unavailableFiling unavailable
Gardner Russo & QuinnUnavailableComparison unavailableFiling unavailable
Gates Foundation TrustUnavailableComparison unavailableFiling unavailable
Mairs & PowerUnavailableComparison unavailableFiling unavailable
Oakmark / Harris AssociatesUnavailableComparison unavailableFiling unavailable
Pershing SquareUnavailableComparison unavailableFiling unavailable
Polen CapitalUnavailableComparison unavailableFiling unavailable
Sequoia / Ruane CunniffUnavailableComparison unavailableFiling unavailable
Southeastern Asset ManagementUnavailableComparison unavailableFiling unavailable
Tweedy, BrowneUnavailableComparison unavailableFiling unavailable
Yacktman Asset ManagementUnavailableComparison unavailableFiling unavailable

Position size uses shares and filed value from each manager’s 13F. Portfolio weight uses the eligible long-share filing denominator. Changes compare only with the immediately preceding calendar quarter.

Source: · event Jun 30, 2026 · retrieved Jul 26, 2026

Flagship explainer

What HIMS & HERS HEALTH, INC. insiders reported

Records still being gathered — partial as of retrieval Aug 19, 2026.

Partial coverage: the incomplete Form 4 walk cannot establish no activity, an activity date, or zero counts.

Moat Score history

16 logged readings since Jul 17, 2026 · append-only, never rewritten

Moat Score over timeLast scored reading of each day, on the 0–100 scale62.5 / 100
0406080100WideNarrowShallowNo moatJul 17, 2026Jul 26, 2026

Breaks in the line mark methodology or normalizer upgrades — readings across versions aren’t compared, so a level shift there isn’t a change in the business.

Tier changesSame-methodology and same-normalizer crossings of the Wide / Narrow / Shallow bars

  1. Normalizer upgraded unstamped (version unknown)moat-xbrl-normalizer@1.1.0 — readings across versions aren’t comparedJul 26, 2026
  2. Methodology upgraded moat-index@2.0.0moat-index@3.0.0 — readings across versions aren’t comparedJul 23, 2026
  3. Methodology upgraded moat-index@1.2.0moat-index@2.0.0 — readings across versions aren’t comparedJul 20, 2026

Scores are logged append-only and never overwritten — this record cannot be reconstructed retroactively, which is exactly why it’s worth keeping.

Insider activity

Form 4 reports mix P/S market or private transactions with compensation-plan mechanics. Activity casually described as “insider selling” can include compensation mechanics; awards, tax withholding, and option exercises are shown by their exact filed class here, never collapsed into “Bought” or “Sold.”

These are disclosed filing facts and arithmetic aggregates, not a signal or verdict.

This machine-readable surface covers SEC ownership filings from 2003; it does not represent earlier paper-era records.

Records still being gathered — partial as of retrieval Aug 19, 2026.

Among the rows shown, A/F/M acquisition, payment or withholding, and exercise or conversion rows outnumber S sale rows (68 versus 2). The filing codes alone do not establish that every such row arose from a compensation plan.

Trailing-12-month totals and the 90-day cluster result are withheld because this issuer walk is incomplete.

InsiderShares owned afterDateFiling detail
Okupe OluyemiChief Financial OfficerExercise or conversion of derivative security (M)Table I · Acquired · Class A Common Stock · 1 paired event9,388$5.01$47,034273,505Aug 17, 2026
1 filed lot
  • Table I · Class A Common Stock: 9,388 shares at $5.01 · code M · owned after 273,505 · Paired event: 9,388 Stock Option (right to buy) → 9,388 Class A Common Stock ·
Okupe OluyemiChief Financial OfficerOpen-market or private sale (S)Table I · Disposed · Class A Common Stock9,388$27.8869$261,802264,117Aug 17, 2026
1 filed lot
  • Table I · Class A Common Stock: 9,388 shares at $27.8869 · code S · owned after 264,117 ·
Okupe OluyemiChief Financial OfficerExercise or conversion of derivative security (M)Table II · Disposed · Stock Option (right to buy) · 1 paired event9,388—Exercise or conversion of derivative security (M)—85,810Aug 17, 2026
1 filed lot
  • Table II · Stock Option (right to buy): 9,388 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 85,810 · Paired event: 9,388 Stock Option (right to buy) → 9,388 Class A Common Stock ·
Boughton SoleilChief Legal OfficerExercise or conversion of derivative security (M)Table I · Acquired · Class A Common Stock42,261Not disclosedNot disclosed360,575Aug 14, 2026
1 filed lot
  • Table I · Class A Common Stock: 42,261 shares at Not disclosed · code M · owned after 360,575 ·
Boughton SoleilChief Legal OfficerPayment of exercise price or tax liability (F)Table I · Disposed · Class A Common Stock21,500$28.15$605,225339,075Aug 14, 2026
1 filed lot
  • Table I · Class A Common Stock: 21,500 shares at $28.15 · code F · owned after 339,075 ·
Boughton SoleilChief Legal OfficerExercise or conversion of derivative security (M)Table II · Disposed · Restricted Stock Unit42,261—Exercise or conversion of derivative security (M)—See lot detailAug 14, 2026
4 filed lots
  • Table II · Restricted Stock Unit: 12,223 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 24,446 ·
  • Table II · Restricted Stock Unit: 12,099 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 72,594 ·
  • Table II · Restricted Stock Unit: 6,182 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 61,829 ·
  • Table II · Restricted Stock Unit: 11,757 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 164,598 ·
Schultz KareDirectorExercise or conversion of derivative security (M)Table I · Acquired · Class A Common Stock · 1 paired event6,623Not disclosedNot disclosed26,020Aug 14, 2026
1 filed lot
  • Table I · Class A Common Stock: 6,623 shares at Not disclosed · code M · owned after 26,020 · Paired event: 6,623 Restricted Stock Unit → 6,623 Class A Common Stock ·
Schultz KareDirectorExercise or conversion of derivative security (M)Table II · Disposed · Restricted Stock Unit · 1 paired event6,623—Exercise or conversion of derivative security (M)—6,624Aug 14, 2026
1 filed lot
  • Table II · Restricted Stock Unit: 6,623 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 6,624 · Paired event: 6,623 Restricted Stock Unit → 6,623 Class A Common Stock ·
Carroll Patrick HarrisonChief Medical OfficerExercise or conversion of derivative security (M)Table I · Acquired · Class A Common Stock · 1 paired event26,187Not disclosedNot disclosedSee lot detailAug 14, 2026
2 filed lots
  • Table I · Class A Common Stock: 260 shares at Not disclosed · code M · owned after 182,121 · Paired event: 260 Restricted Stock Unit → 260 Class A Common Stock ·
  • Table I · Class A Common Stock: 25,927 shares at Not disclosed · code M · owned after 208,048 ·
Carroll Patrick HarrisonChief Medical OfficerPayment of exercise price or tax liability (F)Table I · Disposed · Class A Common Stock10,201$28.15$287,158197,847Aug 14, 2026
1 filed lot
  • Table I · Class A Common Stock: 10,201 shares at $28.15 · code F · owned after 197,847 ·
Carroll Patrick HarrisonChief Medical OfficerExercise or conversion of derivative security (M)Table II · Disposed · Restricted Stock Unit · 1 paired event26,187—Exercise or conversion of derivative security (M)—See lot detailAug 14, 2026
5 filed lots
  • Table II · Restricted Stock Unit: 260 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 0 · Paired event: 260 Restricted Stock Unit → 260 Class A Common Stock ·
  • Table II · Restricted Stock Unit: 8,149 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 8,149 ·
  • Table II · Restricted Stock Unit: 4,839 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 29,038 ·
  • Table II · Restricted Stock Unit: 3,533 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 35,331 ·
  • Table II · Restricted Stock Unit: 9,406 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 131,678 ·
Dudum AndrewDirector, Chief Executive Officer, 10% ownerExercise or conversion of derivative security (M)Table I · Acquired · Class A Common Stock154,993Not disclosedNot disclosed1,112,036Aug 14, 2026
1 filed lot
  • Table I · Class A Common Stock: 154,993 shares at Not disclosed · code M · owned after 1,112,036 ·
Dudum AndrewDirector, Chief Executive Officer, 10% ownerPayment of exercise price or tax liability (F)Table I · Disposed · Class A Common Stock78,859$28.15$2,219,8811,033,177Aug 14, 2026
1 filed lot
  • Table I · Class A Common Stock: 78,859 shares at $28.15 · code F · owned after 1,033,177 ·
Dudum AndrewDirector, Chief Executive Officer, 10% ownerExercise or conversion of derivative security (M)Table II · Disposed · Restricted Stock Unit154,993—Exercise or conversion of derivative security (M)—See lot detailAug 14, 2026
4 filed lots
  • Table II · Restricted Stock Unit: 35,447 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 70,893 ·
  • Table II · Restricted Stock Unit: 74,530 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 447,179 ·
  • Table II · Restricted Stock Unit: 19,151 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 191,504 ·
  • Table II · Restricted Stock Unit: 25,865 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 362,114 ·
Chi MichaelChief Operating OfficerExercise or conversion of derivative security (M)Table I · Acquired · Class A Common Stock86,265Not disclosedNot disclosed518,389Aug 14, 2026
1 filed lot
  • Table I · Class A Common Stock: 86,265 shares at Not disclosed · code M · owned after 518,389 ·
Chi MichaelChief Operating OfficerPayment of exercise price or tax liability (F)Table I · Disposed · Class A Common Stock47,702$28.15$1,342,811470,687Aug 14, 2026
1 filed lot
  • Table I · Class A Common Stock: 47,702 shares at $28.15 · code F · owned after 470,687 ·
Chi MichaelChief Operating OfficerExercise or conversion of derivative security (M)Table II · Disposed · Restricted Stock Unit86,265—Exercise or conversion of derivative security (M)—See lot detailAug 14, 2026
5 filed lots
  • Table II · Restricted Stock Unit: 16,496 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 0 ·
  • Table II · Restricted Stock Unit: 16,297 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 32,595 ·
  • Table II · Restricted Stock Unit: 19,358 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 116,151 ·
  • Table II · Restricted Stock Unit: 10,600 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 105,992 ·
  • Table II · Restricted Stock Unit: 23,514 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 329,194 ·
Okupe OluyemiChief Financial OfficerExercise or conversion of derivative security (M)Table I · Acquired · Class A Common Stock71,616Not disclosedNot disclosed300,554Aug 14, 2026
1 filed lot
  • Table I · Class A Common Stock: 71,616 shares at Not disclosed · code M · owned after 300,554 ·
Okupe OluyemiChief Financial OfficerPayment of exercise price or tax liability (F)Table I · Disposed · Class A Common Stock36,437$28.15$1,025,702264,117Aug 14, 2026
1 filed lot
  • Table I · Class A Common Stock: 36,437 shares at $28.15 · code F · owned after 264,117 ·
Okupe OluyemiChief Financial OfficerExercise or conversion of derivative security (M)Table II · Disposed · Restricted Stock Unit71,616—Exercise or conversion of derivative security (M)—See lot detailAug 14, 2026
4 filed lots
  • Table II · Restricted Stock Unit: 18,335 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 36,669 ·
  • Table II · Restricted Stock Unit: 22,988 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 137,929 ·
  • Table II · Restricted Stock Unit: 11,482 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 114,825 ·
  • Table II · Restricted Stock Unit: 18,811 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 263,356 ·
Autor Deborah M.Director, Chief Policy OfficerExercise or conversion of derivative security (M)Table I · Acquired · Class A Common Stock · 1 paired event32,920Not disclosedNot disclosed81,881Aug 14, 2026
1 filed lot
  • Table I · Class A Common Stock: 32,920 shares at Not disclosed · code M · owned after 81,881 · Paired event: 32,920 Restricted Stock Unit → 32,920 Class A Common Stock ·
Autor Deborah M.Director, Chief Policy OfficerPayment of exercise price or tax liability (F)Table I · Disposed · Class A Common Stock16,147$28.15$454,53865,734Aug 14, 2026
1 filed lot
  • Table I · Class A Common Stock: 16,147 shares at $28.15 · code F · owned after 65,734 ·
Autor Deborah M.Director, Chief Policy OfficerExercise or conversion of derivative security (M)Table II · Disposed · Restricted Stock Unit · 1 paired event32,920—Exercise or conversion of derivative security (M)—427,953Aug 14, 2026
1 filed lot
  • Table II · Restricted Stock Unit: 32,920 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 427,953 · Paired event: 32,920 Restricted Stock Unit → 32,920 Class A Common Stock ·
WELLS DAVID BDirectorExercise or conversion of derivative security (M)Table I · Acquired · Class A Common Stock · 1 paired event778Not disclosedNot disclosed229,808Aug 14, 2026
1 filed lot
  • Table I · Class A Common Stock: 778 shares at Not disclosed · code M · owned after 229,808 · Paired event: 778 Restricted Stock Unit → 778 Class A Common Stock ·
WELLS DAVID BDirectorExercise or conversion of derivative security (M)Table II · Disposed · Restricted Stock Unit · 1 paired event778—Exercise or conversion of derivative security (M)—0Aug 14, 2026
1 filed lot
  • Table II · Restricted Stock Unit: 778 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 0 · Paired event: 778 Restricted Stock Unit → 778 Class A Common Stock ·
Elshenawy MohamedCTOExercise or conversion of derivative security (M)Table I · Acquired · Class A Common Stock188,285Not disclosedNot disclosed289,308Aug 14, 2026
1 filed lot
  • Table I · Class A Common Stock: 188,285 shares at Not disclosed · code M · owned after 289,308 ·
Elshenawy MohamedCTOPayment of exercise price or tax liability (F)Table I · Disposed · Class A Common Stock95,798$28.15$2,696,714193,510Aug 14, 2026
1 filed lot
  • Table I · Class A Common Stock: 95,798 shares at $28.15 · code F · owned after 193,510 ·
Elshenawy MohamedCTOExercise or conversion of derivative security (M)Table II · Disposed · Restricted Stock Unit188,285—Exercise or conversion of derivative security (M)—See lot detailAug 14, 2026
3 filed lots
  • Table II · Restricted Stock Unit: 64,771 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 712,484 ·
  • Table II · Restricted Stock Unit: 23,514 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 329,195 ·
  • Table II · Restricted Stock Unit: 100,000 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 1,100,000 ·
Becklund IrenePAOExercise or conversion of derivative security (M)Table I · Acquired · Class A Common Stock13,685Not disclosedNot disclosed20,475Aug 14, 2026
1 filed lot
  • Table I · Class A Common Stock: 13,685 shares at Not disclosed · code M · owned after 20,475 ·
Becklund IrenePAOPayment of exercise price or tax liability (F)Table I · Disposed · Class A Common Stock6,490$28.15$182,69413,985Aug 14, 2026
1 filed lot
  • Table I · Class A Common Stock: 6,490 shares at $28.15 · code F · owned after 13,985 ·
Becklund IrenePAOExercise or conversion of derivative security (M)Table II · Disposed · Restricted Stock Unit13,685—Exercise or conversion of derivative security (M)—See lot detailAug 14, 2026
4 filed lots
  • Table II · Restricted Stock Unit: 4,066 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 8,133 ·
  • Table II · Restricted Stock Unit: 4,345 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 26,070 ·
  • Table II · Restricted Stock Unit: 1,394 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 13,928 ·
  • Table II · Restricted Stock Unit: 3,880 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 54,317 ·
Payne Christopher DDirectorExercise or conversion of derivative security (M)Table I · Acquired · Class A Common Stock · 1 paired event545Not disclosedNot disclosed34,863Aug 14, 2026
1 filed lot
  • Table I · Class A Common Stock: 545 shares at Not disclosed · code M · owned after 34,863 · Paired event: 545 Restricted Stock Unit → 545 Class A Common Stock ·
Payne Christopher DDirectorExercise or conversion of derivative security (M)Table II · Disposed · Restricted Stock Unit · 1 paired event545—Exercise or conversion of derivative security (M)—0Aug 14, 2026
1 filed lot
  • Table II · Restricted Stock Unit: 545 shares at — (Exercise or conversion of derivative security (M)) · code M · owned after 0 · Paired event: 545 Restricted Stock Unit → 545 Class A Common Stock ·
Elshenawy MohamedCTOGrant, award, or other acquisition (A)Table II · Acquired · Restricted Stock Unit1,200,000—Grant, award, or other acquisition (A)—1,200,000Aug 12, 2026
1 filed lot
  • Table II · Restricted Stock Unit: 1,200,000 shares at — (Grant, award, or other acquisition (A)) · code A · owned after 1,200,000 ·
Schultz KareDirectorGrant, award, or other acquisition (A)Table II · Acquired · Restricted Stock Unit8,223—Grant, award, or other acquisition (A)—8,223Aug 12, 2026
1 filed lot
  • Table II · Restricted Stock Unit: 8,223 shares at — (Grant, award, or other acquisition (A)) · code A · owned after 8,223 ·
Payne Christopher DDirectorGrant, award, or other acquisition (A)Table II · Acquired · Restricted Stock Unit8,768—Grant, award, or other acquisition (A)—See lot detailAug 12, 2026
2 filed lots
  • Table II · Restricted Stock Unit: 8,223 shares at — (Grant, award, or other acquisition (A)) · code A · owned after 8,223 ·
  • Table II · Restricted Stock Unit: 545 shares at — (Grant, award, or other acquisition (A)) · code A · owned after 545 ·
Perez Garcia Andrea GDirectorGrant, award, or other acquisition (A)Table II · Acquired · Restricted Stock Unit8,223—Grant, award, or other acquisition (A)—8,223Aug 12, 2026
1 filed lot
  • Table II · Restricted Stock Unit: 8,223 shares at — (Grant, award, or other acquisition (A)) · code A · owned after 8,223 ·
Manuel AnjaDirectorGrant, award, or other acquisition (A)Table II · Acquired · Restricted Stock Unit8,223—Grant, award, or other acquisition (A)—8,223Aug 12, 2026
1 filed lot
  • Table II · Restricted Stock Unit: 8,223 shares at — (Grant, award, or other acquisition (A)) · code A · owned after 8,223 ·
Cosgrove Delos M.DirectorGrant, award, or other acquisition (A)Table II · Acquired · Restricted Stock Unit8,223—Grant, award, or other acquisition (A)—8,223Aug 12, 2026
1 filed lot
  • Table II · Restricted Stock Unit: 8,223 shares at — (Grant, award, or other acquisition (A)) · code A · owned after 8,223 ·
Autor Deborah M.Director, Chief Policy OfficerGrant, award, or other acquisition (A)Table II · Acquired · Restricted Stock Unit8,223—Grant, award, or other acquisition (A)—8,223Aug 12, 2026
1 filed lot
  • Table II · Restricted Stock Unit: 8,223 shares at — (Grant, award, or other acquisition (A)) · code A · owned after 8,223 ·
Carroll Patrick HarrisonChief Medical OfficerGrant, award, or other acquisition (A)Table II · Acquired · Restricted Stock Unit260—Grant, award, or other acquisition (A)—260Aug 12, 2026
1 filed lot
  • Table II · Restricted Stock Unit: 260 shares at — (Grant, award, or other acquisition (A)) · code A · owned after 260 ·
WELLS DAVID BDirectorGrant, award, or other acquisition (A)Table II · Acquired · Restricted Stock Unit9,001—Grant, award, or other acquisition (A)—See lot detailAug 12, 2026
2 filed lots
  • Table II · Restricted Stock Unit: 8,223 shares at — (Grant, award, or other acquisition (A)) · code A · owned after 8,223 ·
  • Table II · Restricted Stock Unit: 778 shares at — (Grant, award, or other acquisition (A)) · code A · owned after 778 ·
Amoo-Gottfried Kofi OwusuDirectorGrant, award, or other acquisition (A)Table II · Acquired · Restricted Stock Unit21,380—Grant, award, or other acquisition (A)—See lot detailAug 12, 2026
2 filed lots
  • Table II · Restricted Stock Unit: 13,157 shares at — (Grant, award, or other acquisition (A)) · code A · owned after 13,157 ·
  • Table II · Restricted Stock Unit: 8,223 shares at — (Grant, award, or other acquisition (A)) · code A · owned after 8,223 ·
Okupe OluyemiChief Financial OfficerOpen-market or private sale (S)Table I · Disposed · Class A Common Stock55,383$35.09$1,943,389228,938Jun 18, 2026
1 filed lot
  • Table I · Class A Common Stock: 55,383 shares at $35.09 · code S · owned after 228,938 ·

Source-event as of . Retrieved .

Track record

How HIMS & HERS HEALTH, INC.’s moat rated in each of the years we can reconstruct from its filings — scored only on what was knowable at the time — and what its price and returns did afterward. The score never saw a price; the two are joined only in hindsight, for education, not as a signal.

Point-in-time scores 2019–2025, one methodology version · reconstructed from filings on file each Dec 31 — never with hindsight

Point-in-time Moat Score (dot colored by tier)Indexed price (total-return (dividends reinvested))Rated Wide-moat that year

How to read this: each dot is what the engine would have scored HIMS on that December 31; the line below is its total-return price path (dividends reinvested) in the years since.

0406080100WideNarrowShallowNo moatPoint-in-time Moat Score100200Indexed price · log scale (2020 = 100)20192021202320252026

Two tracks, one timeline: the score has its own 0–100 scale (top), the price its own 100-based scale (bottom) — never a shared axis. The price path is a total-return (dividends reinvested) index built from the same data the forward returns use; gaps in the score line are years with no reconstructed rating (see the table for why). The Table view carries every value.

What followed, in the years it rated Wide

In the reconstructed history shown, HIMS did not rate Wide-moat in any year, so there is no wide-moat track record to report. That absence is itself the honest answer — we don’t manufacture a comparison where the rating never earned one.

Healthcare context

#90 of 710 scored Healthcare companies, ranked by Moat Score.

Nearest peers by Moat Score

  1. #88USNA USANA HEALTH SCIENCES, INC.62.8Narrow moat
  2. #89UFPT UFP Technologies, Inc.62.6Narrow moat
  3. #91USPH U S PHYSICAL THERAPY INC /NV62.4Narrow moat
  4. #92ANIP ANI Pharmaceuticals, Inc.62.3Narrow moat

Compare HIMS with its nearest peers →All Healthcare companies on the Index →

Common questions about HIMS

Does HIMS & HERS HEALTH, INC. have an economic moat?
Based on its FY2025 SEC filings, the Moat Index scores HIMS & HERS HEALTH, INC. (HIMS) 62.5 out of 100 — a Narrow moat. The five questions behind that score begin at 20% each; if exactly one genuinely lacks data, the other four weights are renormalized and disclosed. revenue and EPS trend 85, pricing power 89, returns on capital 14, balance-sheet safety 100, capital allocation 24.
How has HIMS's Moat Score changed over time?
The record logs 16 readings since Jul 17, 2026; the latest reads 62.5 out of 100 (narrow moat). No tier changes on record yet. (Methodology or normalizer upgrades on Jul 20, 2026, Jul 23, 2026, Jul 26, 2026 re-based the score; readings across versions aren't compared.) The history is append-only — readings are only ever added, never rewritten.

Scored from primary SEC filings via the public methodology. Educational only — not a recommendation to buy or sell HIMS. See the disclaimer.