HIMS vs UNH

Hims & Hers retains growth potential driven by its D2C telehealth platform and positioning in chronic care like GLP-1s, evidenced by 59% YoY FY25 revenue growth and 2.5 million subscribers. However, the investment thesis for 10x growth within 3-5 years has significantly weakened since the last analysis. Intensified regulatory pressure on compounded GLP-1s directly threatens its fastest-growing seg...

UnitedHealth Group (UNH) remains a healthcare titan, but its sheer scale and the highly regulated nature of its operations fundamentally limit its 10x growth potential within 3-5 years. The recent Optum Health operating loss of $278M in 2025 (compared to $7.77B income in 2024) is a significant concern, eroding the growth narrative that Optum once provided. Furthermore, the proposed 0.09% Medicare ...