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).
TDOC holds the edge across 3 of 5 key metrics in this comparison. AMWL leads on both 1-year return (+108.42%) and forward P/E quality (-7.84x vs -8.23x for TDOC), a relatively favorable combination of momentum and valuation. TDOC leads on both revenue growth (-4.00%) and operating margin (-5.68%), suggesting a stronger fundamental setup on both dimensions. Analyst consensus implies meaningfully more upside for TDOC (+18.68%) than for AMWL (+3.39%).
Human Wall Street analysts' price targets, typically implying a ~12-month view — a separate signal from this site's own AI Prediction Signal further down the page, which is a 5-/30-day machine-learning forecast based on price history alone.
- 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
- 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
| Metric | TDOC | AMWL |
|---|---|---|
| AI scorei | 24.6 | 23.5 |
| AI ranki | #2989 | #3527 |
| Latest closei | $5.97 | $12.38 |
| 1M returni | -9.27% | -9.44% |
| 3M returni | -36.96% | +13.06% |
| 6M returni | +2.58% | +100.00% |
| 1Y returni | -33.22% | +108.42% |
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 | $6.68K (-33.2%) started 2025-10-15 | $20.84K (+108.4%) started 2025-10-15 |
| 5Y ago | $440.92 (-95.6%) started 2021-10-15 | $728.24 (-92.7%) started 2021-10-15 |
| 10Y ago | $3.74K (-62.6%) started 2016-10-17 | $268.31 (-97.3%) started 2020-09-17 |
Hypothetical — past performance does not guarantee future results.
| Metric | TDOC | AMWL |
|---|---|---|
| Market capi | $1.17B | $210.57M |
| Trailing P/Ei | N/A | N/A |
| Forward P/Ei | -8.23 | -7.84 |
| Price/Salesi | N/A | 0.96 |
| EV/Revenuei | 0.56 | 0.14 |
| Analyst targeti | $7.67 | $12.80 |
| Target upsidei | +18.68% | +3.39% |
| Metric | TDOC | AMWL |
|---|---|---|
| Revenue growthi | -4.00% | -26.60% |
| Earnings growthi | N/A | N/A |
| EPS growthi | N/A | N/A |
| FCF margini | +7.67% | +1.77% |
| Operating margini | -5.68% | -19.59% |
| Profit margini | -7.13% | -35.75% |
| ROIC proxyi | -12.98% | -29.12% |
| Return on equityi | -12.98% | -29.12% |
| Dividend yieldi | N/A | 0.00% |
| Payout ratioi | N/A | 0.00% |
| Dividend growth streaki | N/A | N/A |
| Betai | 2.13 | 1.68 |
| Debt/equityi | 79.09 | 1.27 |
| Current ratioi | 0.83 | 2.90 |
| Quick ratioi | 0.73 | 2.72 |
Over the past year, TDOC and AMWL have moved weakly in the same direction (correlation of 0.36), based on daily returns.
Lower drawdown and smaller single-period drops generally indicate a smoother ride, though they do not guarantee lower future risk.
| Period | Metric | TDOC | AMWL |
|---|---|---|---|
| 1Y | Growthi | -33.22% | +108.42% |
| CAGRi | -33.24% | +108.52% | |
| Volatilityi | 60.80% | 70.98% | |
| Sharpe ratioi | -0.42 | 1.31 | |
| Sortino ratioi | -0.58 | 2.48 | |
| Max drawdowni | 52.75% | 36.36% | |
| Current drawdowni | 38.58% | 10.74% | |
| Avg drawdowni | 29.00% | 12.17% | |
| Ulcer Indexi | 31.95% | 15.44% | |
| Max daily dropi | 28.32% | 10.50% | |
| Max wkly dropi | 28.31% | 22.77% | |
| 5Y | Growthi | -95.59% | -92.72% |
| CAGRi | -46.44% | -40.79% | |
| Volatilityi | 65.59% | 78.44% | |
| Sharpe ratioi | -0.69 | -0.35 | |
| Sortino ratioi | -0.94 | -0.54 | |
| Max drawdowni | 97.10% | 98.02% | |
| Current drawdowni | 96.13% | 93.53% | |
| Avg drawdowni | 84.63% | 81.18% | |
| Ulcer Indexi | 86.39% | 83.66% | |
| Max daily dropi | 40.15% | 23.08% | |
| Max wkly dropi | 43.25% | 38.27% | |
| 10Y | Growthi | -62.57% | -97.32% |
| CAGRi | -9.37% | -44.87% | |
| Volatilityi | 60.81% | 78.17% | |
| Sharpe ratioi | 0.07 | -0.44 | |
| Sortino ratioi | 0.10 | -0.67 | |
| Max drawdowni | 98.48% | 99.56% | |
| Current drawdowni | 97.97% | 98.55% | |
| Avg drawdowni | 54.31% | 87.55% | |
| Ulcer Indexi | 67.31% | 90.04% | |
| Max daily dropi | 40.15% | 23.08% | |
| Max wkly dropi | 43.25% | 38.27% |
| Category | TDOC | AMWL |
|---|---|---|
| Company | Teladoc Health, Inc. | Amwell (American Well Corporation) |
| Sector | Healthcare | Healthcare |
| Industry | Health Information Services | Health Information Services |
| 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. |
- 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
- 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
- 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
- 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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