DOCS vs HIMS Stock Comparison: AI Score, Valuation, Performance and Upside
Doximity monetizes a physician-facing professional network primarily through pharmaceutical advertising and subscriptions with an established, high-margin model, while Hims & Hers is a consumer-facing telehealth subscription platform riding the weight-loss and direct-to-consumer healthcare boom with more regulatory overhang. Both are digital health platforms, but they sit on opposite sides of the doctor-patient relationship.
Use this DOCS vs HIMS comparison to evaluate two different digital health monetization models. Doximity offers a more established, high-margin B2B2C network effect business targeting physicians and pharma advertisers; Hims & Hers offers faster consumer subscriber growth tied to weight-loss demand but with more regulatory uncertainty.
DOCS holds the edge across 3 of 5 key metrics in this comparison. HIMS has delivered stronger 1-year price return (-23.16% vs -60.50%), though DOCS has the better forward P/E setup (16.35x vs 30.32x for HIMS). On fundamentals, HIMS is growing revenue faster (38.20%), while DOCS maintains the higher operating margin (21.54%) — a classic growth-versus-profitability split. Analyst consensus implies meaningfully more upside for DOCS (+17.56%) than for HIMS (-8.69%).
- Want exposure to a dominant, high-margin physician network with strong pharmaceutical advertising demand
- Prefer a business model less exposed to direct-to-consumer regulatory risk
- Value an asset-light platform with strong free cash flow conversion
- Are comfortable with growth moderating as U.S. physician market penetration matures
- Want high-growth, high-beta exposure to the direct-to-consumer telehealth and weight-loss trend
- Believe branded-partnership access can offset compounding pressure over time
- Are comfortable with regulatory and legal uncertainty around compounded medications
- Prefer a subscriber-growth story over an already-mature network-effect business
| Metric | DOCS | HIMS |
|---|---|---|
| AI score | 23.5 | 42.7 |
| AI rank | #3586 | #860 |
| Latest close | $25.33 | $33.78 |
| 1M return | +23.62% | +6.63% |
| 6M return | +0.40% | +113.53% |
| 1Y return | -60.50% | -23.16% |
How much would $10,000 be worth today if invested at the start of each period, with all dividends reinvested?
| Period | DOCS | HIMS |
|---|---|---|
| 1Y ago | $3.95K (-60.5%) started 2025-08-21 | $7.68K (-23.2%) started 2025-08-21 |
| 5Y ago | $2.91K (-70.9%) started 2021-08-23 | $46.4K (+364.0%) started 2021-08-23 |
| 10Y ago | $4.78K (-52.2%) started 2021-06-24 | $34.47K (+244.7%) started 2019-09-13 |
Hypothetical — past performance does not guarantee future results.
| Metric | DOCS | HIMS |
|---|---|---|
| Market cap | $4.51B | $7.88B |
| Trailing P/E | 30.15 | N/A |
| Forward P/E | 16.35 | 30.32 |
| Price/Sales | 6.89 | 3.06 |
| EV/Revenue | 5.85 | 3.33 |
| Analyst target | $29.78 | $30.85 |
| Target upside | +17.56% | -8.69% |
| Metric | DOCS | HIMS |
|---|---|---|
| Revenue growth | 7.30% | 38.20% |
| Earnings growth | -51.90% | N/A |
| EPS growth | -51.90% | N/A |
| FCF margin | +36.56% | +32.95% |
| Operating margin | 21.54% | -12.75% |
| Profit margin | 25.48% | -5.51% |
| ROIC proxy | 17.21% | -32.03% |
| Return on equity | 17.21% | -32.03% |
| Dividend yield | 0.00% | 0.00% |
| Beta | 1.21 | 2.42 |
| Debt/equity | 1.06 | 477.13 |
| Current ratio | 6.08 | 0.93 |
| Quick ratio | 5.80 | 0.82 |
Lower drawdown and smaller single-period drops generally indicate a smoother ride, though they do not guarantee lower future risk.
| Period | Metric | DOCS | HIMS |
|---|---|---|---|
| 1Y | Growth | -60.50% | -23.16% |
| CAGR | -60.53% | -23.17% | |
| Sharpe ratio | -1.23 | 0.11 | |
| Max drawdown | 76.03% | 76.86% | |
| Max daily drop | 23.00% | 16.03% | |
| Max wkly drop | 30.81% | 32.71% | |
| 5Y | Growth | -70.94% | +364.01% |
| CAGR | -21.92% | +35.98% | |
| Sharpe ratio | -0.11 | 0.73 | |
| Max drawdown | 82.35% | 78.88% | |
| Max daily drop | 23.00% | 34.63% | |
| Max wkly drop | 32.63% | 39.06% | |
| 10Y | Growth | -52.21% | +244.69% |
| CAGR | -13.34% | +19.53% | |
| Sharpe ratio | 0.06 | 0.56 | |
| Max drawdown | 82.35% | 87.29% | |
| Max daily drop | 23.00% | 34.63% | |
| Max wkly drop | 32.63% | 39.06% |
| Category | DOCS | HIMS |
|---|---|---|
| Company | Doximity, Inc. | Hims & Hers Health, Inc. |
| Sector | Healthcare Technology | Healthcare |
| Industry | N/A | N/A |
| Core business | Digital platform for U.S. physicians and healthcare professionals offering networking, telehealth workflow tools, and information resources, monetized primarily through subscriptions and advertising sold to pharmaceutical and health system clients. | Direct-to-consumer telehealth platform selling subscription access to weight loss (including compounded and branded GLP-1 medications), sexual health, dermatology, and mental health treatments through affiliated pharmacies and prescribers. |
| Investor focus | Subscription and advertising revenue growth, physician user engagement and network effects, and high incremental margins as the ad-supported model scales. | Subscriber growth, weight-loss revenue mix, gross margin as compounded GLP-1 access shifts toward branded partnerships, and regulatory risk around compounding. |
- Dominant network effect among U.S. physicians, with a large majority of doctors registered on the platform
- High-margin, asset-light business model funded largely by pharmaceutical advertising and health system subscriptions
- Sticky professional network that is difficult for new entrants to replicate given physician trust and adoption
- Large, fast-growing direct-to-consumer subscriber base with vertically integrated telehealth, pharmacy, and marketing funnel
- Diversified treatment categories beyond weight loss reduce single-category dependence
- Asset-light model generates high incremental margins as the subscriber base scales
- Revenue concentration in pharmaceutical advertising budgets, which can be cyclical
- Growth deceleration risk as physician market penetration in the U.S. matures
- Regulatory or reimbursement changes affecting telehealth workflow tools used within the platform
- Regulatory and legal risk around compounded semaglutide/tirzepatide access as FDA rules evolve
- Dependence on personalized/compounded GLP-1 margins that could compress if forced toward branded partnerships
- Intensifying competition from other telehealth platforms and direct pharma-to-consumer channels
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