Capital allocation

Reinvesting, buying companies and starting new businesses all have to go well, or a high return on capital falls sooner or later

Sales growth30%Growth in the share count5%

Sales per share grew 23.8%

Stock-based pay and convertible bonds add shares, so measure growth per share.

Why it matters

Buying back shares at fair prices is a clue to a 100-bagger, while new shares eat growth per share. In 2026 Hims paid $1.15 billion for Eucalyptus: watch whether the return shows up.

Hims Stock: One Big Mistake, One Bigger Bet. Is It Worth Owning?26 May 2026 · 12:55

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