Waterdrop Inc.
The research page contains a warning that has not been mapped to a supported model interpretation. The company research remains available, but the complete score is withheld until the warning is reviewed.
WDH · Price history
Price at last available close
$1.00
−$0.03 (-2.91%) 1M
2026-10-28
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Company & revenue
About Waterdrop Inc.
Primary reporting period: 2025-12-31 · Research updated Oct 12, 2026. A research update is not a new financial filing.
Who they are
Waterdrop Inc., through its subsidiaries, provides online insurance brokerage services to match and connect users with related insurance products underwritten by insurance companies in the People’s Republic of China. The company offers short-term and long-term health and life insurance products and services. It also operates a medical crowdfunding platform; and E-Find, a clinical trial patient recruitment platform for pharmaceutical companies to find matches for clinical trials.
How they make money
Waterdrop operates a technology platform that generates revenue primarily through insurance brokerage commissions earned by facilitating the sale of insurance products from third-party insurance companies to consumers. Additionally, the company generates revenue through its medical crowdfunding platform and healthcare services, leveraging its large user base to provide insurance and healthcare solutions.
Products & services
Waterdrop Insurance Marketplace (insurance brokerage), Waterdrop Medical Crowdfunding (charitable fundraising platform), and various healthcare services.
Brands & revenue mix
Primary insurance brokerage platform.
Separate brand revenue is not available in this research.Source
Medical crowdfunding platform.
Separate brand revenue is not available in this research.Source
Revenue share is not unit sales or a best-seller ranking. Parent brands and included sub-brands can overlap; do not add overlapping rows.
Product / operating segments
No reconciled product or operating-segment revenue breakdown is available for the current research period. Company-wide revenue remains separate from segment disclosure.
Geographic revenue
No reconciled geographic revenue breakdown was confirmed for the current research period.
Customer concentration
The company does not disclose specific major customers, but notes that its business is dependent on the continued cooperation of insurance companies and the growth of its user base.
Suppliers, materials & equipment
- Insurance Companies — Various third-party insurance companies that provide the insurance products sold through the Waterdrop Insurance Marketplace.Source
Strengths
- Leading technology platform in China's insurance and healthcare service sectorSource
Sources
Company-specific research
Questions worth answering for WDH
These questions are generated from this company's current financial and score data so the page adds context instead of treating the headline score as a stand-alone conclusion.
- •Can WDH maintain its current revenue growth rate and improve the amount of that revenue that turns into earnings and cash?
- •Is WDH's positive free cash flow repeatable, or is the current level being helped by temporary working-capital or spending changes?
- •How is WDH likely to use its cash advantage: reinvestment, acquisitions, debt reduction, dividends or buybacks?
- •Is WDH's valuation discount tied to a temporary concern or to a longer-term business risk?
- •What does the current fundamental change risk warning mean for the reliability or interpretation of WDH's score?
Essential Investment Snapshot
Market Cap
$361.7M
P/E Ratio
4.5
EPS
$0.22
52-Week High
$2.03
52-Week Low
$0.96
Beta
-0.06
Analyst Target
$2.00
Shares Outstanding
361.7M
Total Debt
$74.5M
Dividend Yield (TTM)
6.00%
Liquidation Value / Share
$2.20
Dividend / Share (TTM)
$0.06
Momentum & Volatility Signals
Two different market-behavior signals. Momentum measures direction and trend strength. Volatility measures how large and unstable the price moves are, regardless of direction.
Weakening momentum
Low movement
A high momentum score means price has been trending upward with confirming short- and medium-term strength. A low score means downward or weakening momentum.
A high volatility score means larger, less stable price swings. It can happen while a stock is rising or falling, so high volatility is not automatically bullish or bearish.
Important: the volatility score above is based on realized price volatility. Implied volatility (IV) comes from options prices and represents the market's expected future movement. Wall Street Score will keep IV separate and will only display it when a verified options-chain feed is available.
Notices for WDH
Detected from reported data — verify before acting.Dividend history reported
Dividend payments are recorded. Review the dates and regular/special classification below; past payments do not guarantee future dividends.
Historical repurchase activity
Reported cash flows or share-count measures indicate past repurchase activity. This does not verify an active buyback authorization or future purchases.
Community Sentiment
0 active · 0 total callsNo personal call yet on WDH.
Potential upside factors
- +Growth opportunities may come from revenue expansion, margin improvement, new products, market-share gains, and stronger cash flow.
- +Leading technology platform in China's insurance and healthcare service sector.
- +Positive free cash flow may provide capacity to invest in growth.
Potential downside factors
- −Key risks may include competition, margin pressure, debt levels, valuation risk, and changes in demand within the Insurance - Brokers industry.
- −Uncertainties related to the evolving legal system in mainland China.
- −Risks associated with the VIE (Variable Interest Entity) contractual structure.
These research factors come from saved company research and financial data, not community votes. They are starting points to verify against filings, not buy or sell recommendations.
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Scores
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Score Changes
Score changes will appear once more historical records are available.
Price vs. Value
Review model assumptionsThis model estimate is more than three times the share price.
For insurers, earnings can vary sharply with claims and investment gains. Review normalized earnings and book value before relying on this growth-based estimate.
Stored EPS: $0.22 · Growth assumption: 15.0% · Earnings multiplier: 38.5×.
Current Price
$1.00
Model Intrinsic Value
$7.01
Difference
−$6.01
-85.7% vs IV
Margin of Safety
85.7%
Financial Charts
Revenue
Additional Metrics
Operating Cash Flow
Total Debt
Total Assets
Net Margin %
Free includes 3 annual periods plus available TTM; Premium includes up to 10 annual periods. History depends on available company filings. Swipe the table horizontally to see older periods. A dash means unavailable, not zero.
| Line Item | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $756.4M | $579.5M | $415.1M | $394.0M | ···· | ···· | ···· | ···· | ···· |
| Cost of Revenue | $324.2M | $283.1M | $196.9M | $237.5M | ···· | ···· | ···· | ···· | ···· |
| Gross Profit | $432.2M | $296.4M | $218.2M | $156.4M | ···· | ···· | ···· | ···· | ···· |
| Research & Development | $38.2M | $33.9M | $32.4M | $44.8M | ···· | ···· | ···· | ···· | ···· |
| SG&A Expenses | $336.1M | $208.5M | $159.1M | $112.7M | ···· | ···· | ···· | ···· | ···· |
| Operating Expenses | $374.2M | $242.4M | $191.5M | $157.5M | ···· | ···· | ···· | ···· | ···· |
| EBITDA | $58.0M | $56.1M | $28.4M | $1.0M | ···· | ···· | ···· | ···· | ···· |
| Operating Income | $58.0M | $54.0M | $26.7M | -$1.0M | ···· | ···· | ···· | ···· | ···· |
| Interest Expense | $0.00 | $0.00 | $0.00 | $0.00 | ···· | ···· | ···· | ···· | ···· |
| Income Before Tax | $80.9M | $79.2M | $54.0M | $24.6M | ···· | ···· | ···· | ···· | ···· |
| Income Tax Expense | -$369K | -$3.1M | $1.5M | $83K | ···· | ···· | ···· | ···· | ···· |
| Net Income | $81.2M | $82.9M | $55.0M | $25.0M | ···· | ···· | ···· | ···· | ···· |
| Basic EPS | $1.65 | $2.31 | $0.15 | $0.06 | ···· | ···· | ···· | ···· | ···· |
| Basic Shares | 35.90M | 36.15M | 368M | 388M | ···· | ···· | ···· | ···· | ···· |
| Diluted Shares | 36.73M | 37.14M | 372M | 388M | ···· | ···· | ···· | ···· | ···· |
Earnings Summary
Revenue
$217.1M
Estimate unavailable.
Revenue Beat/Miss
Not available (no estimate stored)
EPS
$0.51
Estimate unavailable.
EPS Beat/Miss
Not available (no estimate stored)
Debt Change
+523.7%
Cash Change
+158.1%
Margin Change
-8.0 pp
Debt and cash show percentage changes versus the comparison period; margin shows the change in percentage points (pp). These are company-wide changes, not per-share amounts.
Financial Changes Since Prior Period
What Improved
- Cash position grew
What Weakened
- Margins contracted
- Debt increased
Potential Score Impact
Positive indicators included revenue growth, EPS growth, cash levels. Pressure indicators included debt levels, net income margin. These factors may support or pressure the Revenue, Management, Financial, and Debt categories; this summary does not claim that the stored scores changed.
Stored Earnings Analysis
Revenue increased 73.0%. EPS increased 750.0%. Cash increased 158.1%. Total debt increased 523.7%. Net income margin declined by 8.0 percentage points.
Earnings-Call Transcript
Earnings-call transcript analysis is not currently available.
These results may influence future scores when the next evaluation is completed.
Insider Activity
Guru / Smart Money
Guru Score
Smart Money
Number of Gurus
Total Guru Value
Avg Portfolio Weight
Largest Holder
Largest Holder %
New Positions
Increased Positions
Reduced Positions
Exited Positions
Net Guru Sentiment
Short Interest
Dividend History
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Conservative Projected Values
3 Years
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5 Years
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10 Years
$———.——
Conservative Projection Rate
——%
Conservative Projected Values — price projections derived from actual 10-year adjusted historical returns, conservatively adjusted and capped at 8% annually. These are distinct from the Outperformance Model Score and WallStreetScore.
Conservative Projected Values
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Start 7-Day Free TrialHistorical Trends
4 historical recordsHistorical Score Chart
3 of 4 records shownWall Street Score
Debt Score
Revenue Score
Asset Score
Capital Score
Management Score
Moat Score
Valuation Score
Buffett Score
Intrinsic Value
Value Reference
Margin of Safety %
Related Companies
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Waterdrop Inc. Unsponsored ADR (WDH) to Issue Dividend of $0.03 on November 6th
Waterdrop Inc. (WDH) Q2 2026 Earnings Call Transcript
Waterdrop Q2 Earnings Call Highlights
Rumor Mill · WDH
Corporate developments & opportunities
No reviewed developments match this filter.
Evidence credibility is not a forecast of stock performance. Rumor Mill is separate from the WSS score.
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