HealthStream, Inc. HSTM R2K

Healthcare · Health Information Services · United States

https://www.healthstream.com

HealthStream, Inc. provides Software-as-a-Service (SaaS) based applications for healthcare organizations in the United States. The company offers hStream, a technology platform; CredentialStream, provides healthcare organizations with tools to support the provider lifecycle management from recruiting, application submission, verification of licensure and other credentials, privileging, appointments by credentialing committees, enrollment, network, management, onboarding, and performance evaluations of providers; ShiftWizard; and Competency Suite, AI/ML-driven clinical competency development system. It also provides applications for performance appraisal, competency management, disclosure management, clinical competency, assessment, development, simulation-based education, clinical rotation and onboarding management, quality management, and industry training. The company's solutions help healthcare organizations in meeting their ongoing learning, clinical development, credentialing, and scheduling needs. It serves the healthcare industry, including private, not-for-profit, and government entities, as well as pharmaceutical and medical device companies, and nursing schools and students. The company was incorporated in 1990 and is headquartered in Nashville, Tennessee.

Market & Price

Market Cap

$729.50M

Current Price

$24.97

High / Low (52W)

$29.17 / $19.82

Beta

0.41

Valuation

Stock P/E

37.27

Industry PE

23.65

Forward P/E

28.87

PEG Ratio

2.91

Book Value

$12.01

Price to Book

2.08

P/S

2.34

EV/EBITDA

16.10

Dividend Yield

0.53%

Profitability & Returns

ROCE

5.11%

ROE

5.57%

ROA

2.84%

Profit Margin

6.39%

Op Margin

9.25%

EPS (Latest Qtr)

$0.20

EPS (TTM)

$0.67

Balance Sheet & Liquidity

Debt/Equity

4.00

Quick Ratio

0.81

Current Ratio

0.97

Debt

$14.07M

Total Assets

$520.37M

Current Assets

$119.66M

Working Capital

$-4.49M

Ownership

Promoter Holding

20.39%

Chg in Prom Hold

FII / Inst Holding

75.64%

Chg in FII Hold

Financial Snapshot

Enterprise Value

$677.07M

Total Revenue (TTM)

$311.78M

EBITDA

$42.06M

Free Cash Flow

$49.80M

Operating Cash Flow

$63.38M

Shares Outstanding

29.22M

Gross Margin

64.89%

Payout Ratio

19.10%

Growth (CAGR)

Revenue 5Y

4.45%

Profit 5Y

14.90%

Revenue (YoY)

10.50%

Earnings (YoY)

42.90%

PROS

Profit CAGR of 14.9% over 5 years.
Generates positive free cash flow.

CONS

In a downtrend (50-DMA below 200-DMA).

* The pros and cons are auto-generated from financial metrics.

Price Chart

Robinhood TradingView StockAnalysis

Fundamental Growth

Period: Metric:

Figures from the latest reported periods. CAGR is computed across the displayed window (quarterly CAGR is annualised assuming 4 quarters per year).

Peer comparison

Peer companies in the same sector (Healthcare).

#	Name	CMP $	P/E	Mkt Cap	Div Yld %	ROCE %	ROE %	Rev CAGR 5Y %	Profit CAGR 5Y %
1	HSTM HealthStream, Inc. R2K	24.97	37.27	$729.50M	0.53%	5.11%	5.57%	4.45%	14.90%
2	LLY Eli Lilly and Company SPX	1,105.00	39.21	$985.37B	0.63%	38.44%	107.46%	31.69%	48.96%
3	JNJ Johnson & Johnson SPX	225.33	26.11	$542.42B	2.38%	23.13%	26.42%	5.60%	14.32%
4	UNH UnitedHealth Group Incorporated SPX	380.31	28.66	$345.38B	2.32%	9.60%	12.18%	11.35%	-15.69%
5	MRK Merck & Co., Inc. SPX	118.72	33.44	$293.22B	2.86%	20.66%	18.94%	3.12%	7.93%
6	TMO Thermo Fisher Scientific Inc. SPX	492.51	27.11	$183.03B	0.38%	9.17%	13.52%	-0.27%	-1.19%
7	AMGN Amgen Inc. NDXSPX	336.79	23.42	$181.77B	2.99%	18.02%	101.32%	11.77%	5.58%
8	GILD Gilead Sciences, Inc. NDXSPX	134.43	18.29	$166.90B	2.44%	22.92%	43.36%	2.57%	22.83%
9	ISRG Intuitive Surgical, Inc. NDXSPXAI	424.64	51.53	$150.39B	-	15.96%	17.23%	17.39%	29.26%

Quarterly Results

Figures in USD.

Metric	Jun 2013	Sep 2013	Mar 2014	Jun 2014	Sep 2014	Mar 2015	Jun 2015	Sep 2015	Mar 2016	Jun 2016	Sep 2016	Mar 2017	Jun 2017	Sep 2017	Mar 2018	Jun 2018	Sep 2018	Mar 2019	Jun 2019	Sep 2019	Mar 2020	Jun 2020	Sep 2020	Mar 2021	Jun 2021	Sep 2021	Mar 2022	Jun 2022	Sep 2022	Mar 2023	Jun 2023	Sep 2023	Mar 2024	Jun 2024	Sep 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
Revenue	-	-	-	-	-	-	-	-	-	-	-	-	52.92M	54.74M	54.86M	57.01M	59.92M	65.19M	63.78M	62.45M	61.57M	60.55M	60.88M	63.47M	64.82M	64.09M	65.37M	65.64M	67.28M	68.95M	69.20M	70.34M	72.76M	71.56M	73.09M	73.48M	74.40M	76.47M	79.71M	81.20M
Cost of Revenue	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	25.49M	26.36M	26.51M	28.85M	27.76M
Gross Profit	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	48.00M	48.03M	49.97M	50.86M	53.45M
Operating Expenses	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	43.62M	42.15M	42.40M	48.45M	45.93M
Operating Income	4.11M	3.88M	3.30M	4.11M	4.74M	4.79M	2.56M	4.33M	2.49M	2.32M	1.29M	2.37M	2.80M	2.73M	3.73M	4.26M	4.66M	5.37M	2.27M	3.75M	7.24M	4.30M	3.13M	3.30M	3.43M	1.78M	4.04M	2.95M	2.38M	2.89M	4.01M	4.86M	5.69M	4.41M	6.50M	4.38M	5.89M	7.57M	2.40M	7.51M
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	15.13M	16.75M	18.39M	13.44M	18.88M
Interest Expense	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Pretax Income	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	5.25M	6.87M	8.25M	2.85M	7.82M
Tax Provision	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	916.00K	1.48M	2.17M	317.00K	1.91M
Net Income	2.42M	2.30M	1.95M	2.36M	3.44M	2.72M	1.47M	2.61M	1.50M	1.40M	1.16M	1.28M	2.27M	2.50M	23.85M	2.54M	3.04M	5.97M	2.40M	3.71M	7.09M	3.44M	2.63M	2.29M	2.44M	1.50M	2.89M	3.08M	3.67M	2.62M	4.13M	3.87M	5.23M	4.17M	5.72M	4.33M	5.39M	6.09M	2.53M	5.91M
Diluted EPS	0.09	0.08	0.07	0.08	0.12	0.10	0.05	0.08	0.05	0.04	0.04	0.04	0.07	0.08	0.74	0.08	0.09	0.18	0.07	0.11	0.22	0.11	0.08	0.07	0.08	0.05	0.09	0.10	0.12	0.09	0.13	0.13	0.17	0.14	0.19	0.14	0.18	0.20	0.09	0.20
R&D Expense	2.78M	3.21M	3.55M	4.29M	4.21M	4.65M	5.82M	6.20M	7.02M	7.24M	7.26M	5.78M	6.15M	6.00M	6.00M	6.55M	6.60M	6.93M	7.64M	7.20M	7.47M	7.83M	8.19M	9.53M	10.34M	10.34M	10.41M	10.58M	11.48M	11.68M	11.03M	10.90M	12.03M	12.08M	12.10M	12.05M	12.07M	12.11M	-	13.61M

Profit & Loss (Annual)

Figures in USD.

Metric	Dec 2009	Dec 2010	Dec 2011	Dec 2012	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Revenue	-	-	-	-	-	-	-	192.12M	214.90M	231.62M	254.11M	244.83M	-	266.83M	279.06M	291.65M	304.06M
Cost of Revenue	-	-	-	-	-	-	-	-	-	-	-	-	-	91.14M	95.02M	97.94M	107.21M
Gross Profit	-	-	-	-	-	-	-	-	-	-	-	-	-	175.68M	184.04M	193.71M	196.85M
Operating Expenses	-	-	-	-	-	-	-	-	-	-	-	-	-	163.23M	168.02M	172.42M	176.62M
Operating Income	5.12M	7.06M	11.34M	13.46M	14.67M	16.38M	13.56M	7.17M	9.41M	15.49M	14.72M	15.82M	-	12.45M	16.02M	21.29M	20.24M
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	50.39M	57.09M	62.53M	63.71M
Interest Expense	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Pretax Income	-	-	-	-	-	-	-	-	-	-	-	-	-	15.59M	18.51M	24.80M	23.22M
Tax Provision	-	-	-	-	-	-	-	-	-	-	-	-	-	3.49M	3.30M	4.80M	4.88M
Net Income	13.97M	4.15M	6.94M	7.64M	8.42M	10.39M	8.62M	3.75M	10.00M	32.22M	15.77M	14.09M	-	12.09M	15.21M	20.01M	18.34M
Diluted EPS	0.64	0.18	0.29	0.28	0.30	0.37	0.28	0.12	0.31	1.00	0.49	0.44	-	0.39	0.50	0.66	0.61
R&D Expense	6.29M	6.99M	7.47M	8.61M	11.76M	16.46M	24.21M	24.23M	24.15M	25.73M	29.11M	32.30M	41.66M	44.28M	45.54M	48.89M	50.98M

Compounded Sales Growth

5 Years:	4.45%
1 Year:	10.50%

Compounded Profit Growth

5 Years:	14.90%
1 Year:	42.90%

Stock Price Performance

1 Year:	-10.39%
6 Months:	-2.27%
3 Months:	+17.98%
1 Month:	+17.85%

Balance Sheet (Annual)

Figures in USD.

Metric	Dec 2008	Dec 2009	Dec 2010	Dec 2011	Dec 2012	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Total Assets	-	-	82.01M	154.24M	174.53M	212.59M	257.26M	379.57M	396.00M	411.12M	441.95M	489.54M	500.31M	-	497.74M	499.94M	510.77M	520.37M
Current Assets	-	-	-	-	-	-	-	-	-	-	-	-	-	-	114.38M	130.21M	153.12M	119.66M
Cash & Equivalents	4.11M	12.29M	17.87M	76.90M	41.37M	59.54M	82.00M	82.01M	49.63M	84.77M	134.32M	131.54M	36.57M	-	46.02M	40.33M	59.47M	36.16M
Inventory	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Receivables	-	-	-	-	-	-	-	-	-	-	-	-	-	-	36.73M	34.35M	30.19M	32.15M
Total Liabilities	-	-	-	-	-	-	-	-	-	-	-	-	-	-	163.68M	159.19M	151.41M	166.35M
Current Liabilities	-	-	24.75M	32.45M	35.03M	56.21M	77.26M	89.08M	94.97M	101.07M	106.85M	105.19M	119.44M	-	117.21M	118.36M	115.69M	124.15M
Long Term Debt	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total Debt	-	-	-	-	-	-	-	-	-	-	-	-	-	-	23.32M	20.25M	17.37M	14.68M
Total Equity	36.76M	51.82M	56.79M	120.92M	132.20M	149.43M	167.86M	280.32M	286.11M	300.17M	318.95M	338.17M	334.06M	-	334.06M	340.75M	359.36M	354.02M
Shares Outstanding	-	-	-	-	-	-	-	-	-	-	-	-	-	-	30.58M	30.30M	30.43M	29.58M

Cash Flows (Annual)

Figures in USD.

Metric	Dec 2009	Dec 2010	Dec 2011	Dec 2012	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Operating Cash Flow	11.57M	16.12M	19.75M	22.53M	26.28M	-	-	24.23M	46.71M	43.25M	65.66M	35.87M	-	51.19M	63.97M	57.66M	63.32M
Investing Cash Flow	-3.07M	-10.38M	-17.11M	-59.00M	-14.99M	-	-	-56.66M	-11.58M	36.56M	-67.52M	-110.41M	-	-28.39M	-56.60M	-33.97M	-50.35M
Financing Cash Flow	-319.00K	-159.00K	56.39M	934.00K	6.88M	-	-	46.00K	1.00K	-30.25M	-916.00K	-20.49M	-	-23.70M	-13.04M	-4.52M	-36.27M
Capital Expenditure	-1.79M	-2.62M	-4.12M	-4.32M	-4.44M	-4.54M	-8.09M	-4.81M	-5.51M	-7.17M	-22.00M	-1.99M	-	-25.10M	-28.01M	-28.14M	-32.16M
Free Cash Flow	9.78M	13.49M	15.64M	18.21M	21.84M	-	-	19.43M	41.20M	36.08M	43.66M	33.89M	-	26.09M	35.96M	29.52M	31.16M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-	-	-	-	-903.00K	-5.67M	19.17M	-23.30M
Share Buybacks	-	379.00K	-	-	-	-	-	-	-	-	0	20.02M	5.01M	23.14M	8.93M	0	30.02M
Dividends Paid	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3.10M	3.40M	3.70M

Ratios (Annual)

Figures in %.

Metric	Dec 2009	Dec 2010	Dec 2011	Dec 2012	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Gross Margin %	-	-	-	-	-	-	-	-	-	-	-	-	-	65.8%	65.9%	66.4%	64.7%
Operating Margin %	-	-	-	-	-	-	-	3.7%	4.4%	6.7%	5.8%	6.5%	-	4.7%	5.7%	7.3%	6.7%
Net Margin %	-	-	-	-	-	-	-	2.0%	4.7%	13.9%	6.2%	5.8%	-	4.5%	5.5%	6.9%	6.0%
ROE %	27.0%	7.3%	5.7%	5.8%	5.6%	6.2%	3.1%	1.3%	3.3%	10.1%	4.7%	4.2%	-	3.6%	4.5%	5.6%	5.2%
ROCE %	-	12.3%	9.3%	9.6%	9.4%	9.1%	4.7%	2.4%	3.0%	4.6%	3.8%	4.2%	-	3.3%	4.2%	5.4%	5.1%

Shareholding Pattern

Insiders

20.39%

Institutions

75.64%

Public Float

95.02%

Top Institutional Holders

#	Holder	% Held	Shares	Value
1	Blackrock Inc.	13.18%	3.85M	$96.18M
2	Dimensional Fund Advisors LP	4.98%	1.46M	$36.36M
3	Copeland Capital Management, LLC	4.37%	1.28M	$31.88M
4	Vanguard Capital Management LLC	3.59%	1.05M	$26.17M
5	State Street Corporation	3.41%	995.56K	$24.86M
6	Vanguard Portfolio Management LLC	3.16%	921.85K	$23.02M
7	Two Sigma Investments, LP	2.89%	844.42K	$21.09M
8	Geode Capital Management, LLC	2.45%	714.75K	$17.85M
9	Renaissance Technologies, LLC	1.64%	477.85K	$11.93M
10	JPMORGAN CHASE & CO	1.55%	453.74K	$11.33M

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