HealthStream (HSTM) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

HealthStream

NasdaqGS•Healthcare•Health Information Services

$29.11+0.23(0.01%)Pre-market

Market Cap

$850.89M

P/E

40.1x

P/S

2.6x

P/B

2.4x

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.

How this company scores

GoodMetricSide Score: 69/100

Strongest: Cash & Earnings Quality (25/25); weakest: Profitability (12/25).

Profitability12/25

Growth17/25

Balance Sheet & Red Flags15/25

Cash & Earnings Quality25/25

Strengths

Rising free cash flowInterest easily coveredCash-backed earningsConsistent free cash flow

No red flags in the last 8 quarters.

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 40.1x5y range 31.1x – 142.7x

Currently near its 20-quarter median.

P/S · 2.6x5y range 2.0x – 3.6x

Currently near its 20-quarter median.

P/B · 2.4x5y range 1.8x – 2.7x

Price & Volume

Market Cap $850.89M

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $321.12M
Q. Revenue: $83.73M
TTM EBITDA: $70.30M
TTM Op. Income: $25.80M
Q. Op. Income: $8.32M
TTM Net Income: $21.20M
Q. Net Income: $6.67M
EPS: N/A
Shares Out.: $29.23M

$321.12M in TTM revenue grew 8.8% YoY, reaching $83.73M last quarter. TTM EBITDA of $70.30M and TTM operating income of $25.80M show growth is flowing through to the bottom line. TTM net income of $21.20M means revenue is converting into profit. Across the last 8 quarters, TTM revenue has risen for 7 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin: 65.3%
EBITDA Margin: 23.4%
Op. Margin: 9.9%
Net Margin: 8.0%

Op. margin of 9.9% is up 2.0% YoY — cost efficiency is improving. Net margin at 8.0% and gross margin of 65.3% show how much of each revenue dollar survives to profit. Across the last 8 quarters, operating margin has risen for 2 consecutive quarters — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 40.1x
P/S Ratio: 2.6x
P/B Ratio: 2.4x

At 40.1x P/E, the stock trades above typical market levels — the market expects above-average growth. P/S of 2.6x and P/B of 2.4x provide additional context. Use the growth and margin sections to judge whether the multiple is justified. Over the past year, P/E is down 3% — a weakening trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $521.60M
Cash: $46.17M
Long-Term Debt: N/A
Book Value: $356.61M
D/E Ratio: N/A
Debt/EBITDA: 0.0

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $13.43M
TTM Free Cash Flow: $69.83M
FCF Margin: 21.7%
FCF / Net Income: 3.3

TTM FCF of $69.83M on $13.43M in operating cash flow. The FCF / Net Income ratio of 3.3x means free cash flow covers net income — earnings are backed by cash. Across the last 8 quarters, free cash flow has risen for 3 consecutive quarters — an improving trend.