Heartflow (HTFL) Stock Fundamentals, Analysis & Risk Signals

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

Heartflow

NasdaqGS•Healthcare•Health Information Services

$50.75+1.18(0.02%)Market closed

Market Cap

$4.38B

P/S

17.6x

P/B

15.7x

HeartFlow, Inc., a medical technology company, provides non-invasive solutions for diagnosing and managing coronary artery diseases the United States and worldwide. Its HeartFlow Platform uses AI and computational fluid dynamics to creates a personalized 3D model of a patient's heart from a single coronary computed tomography angiography, a specialized type of scan that provides detailed images of the heart's arteries. The company provides Heartflow RoadMap Analysis that offers an intuitive anatomic visualization of the coronary arteries; Heartflow FFRCT Analysis, which calculates blood flow and pinpoints clinically; and Heartflow Plaque Analysis that provides a comprehensive assessment of coronary plaque, enabling optimized medical treatment strategies. Its platform provides insights on blood flow, stenosis, and plaque volume and composition by overcoming the limitations of traditional non-invasive imaging tests. HeartFlow, Inc. was formerly known as Cardiovascular Simulation, Inc. and changed its name to HeartFlow, Inc. in May 2009. The company was incorporated in 2007 and is headquartered in San Francisco, California.

How this company scores

WeakMetricSide Score: 36/100

Strongest: Balance Sheet & Red Flags (15/25); weakest: Cash & Earnings Quality (4/25).

Profitability7/25

Growth10/25

Balance Sheet & Red Flags15/25

Cash & Earnings Quality4/25

Strengths

Interest easily coveredConsistent growthNet cash positionImproving margins

Valuation vs. 5-year range

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

P/S · 17.6x5y range 8.9x – 17.6x

P/B · 15.7x5y range 3.7x – 15.7x

Currently above its 4-quarter median.

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Red Flag

The company posted negative operating margins in recent quarters — core operations are unprofitable.

Earnings Quality

Red Flag

Free cash flow has been negative in 5 of the last 5 quarters — earnings are not translating to cash.

Price & Volume

Market Cap $4.38B

Metrics at a Glance

as of June 2026

Revenue & Profit

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

TTM Revenue: $249.28M
Q. Revenue: $64.08M
TTM EBITDA: $-88.37M
TTM Op. Income: $-97.75M
Q. Op. Income: $-17.90M
TTM Net Income: $-150.72M
Q. Net Income: $-15.74M
EPS: $-0.18
Shares Out.: $86.40M

$249.28M in TTM revenue grew from zero YoY, reaching $64.08M last quarter. TTM EBITDA of $-88.37M and TTM operating income of $-97.75M show growth is flowing through to the bottom line. However, net income is negative at $150.72M — growth is not yet reaching the bottom line. Across the last 5 quarters, TTM revenue has risen for 2 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin: 83.0%
EBITDA Margin: -26.0%
Op. Margin: -27.9%
Net Margin: -24.6%

Op. margin of -27.9% is up 3.7% YoY — cost efficiency is improving. Net margin at -24.6% and gross margin of 83.0% show how much of each revenue dollar survives to profit. Over the past year, operating margin is up 12% — an improving trend.

Price Ratios

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

P/E Ratio: N/A
P/S Ratio: 17.6x
P/B Ratio: 15.7x

P/S of 17.6x and P/B of 15.7x. P/S is high, meaning growth expectations are priced in.

Assets & Liabilities

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

Total Assets: $344.46M
Cash: $34.36M
Long-Term Debt: N/A
Book Value: $279.73M
D/E Ratio: N/A
Debt/EBITDA: N/A

Cash Flow

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

Op. Cash Flow: $-8.58M
TTM Free Cash Flow: $-59.18M
FCF Margin: -23.7%
FCF / Net Income: 0.4

TTM FCF of $-59.18M on $-8.58M in operating cash flow. The FCF / Net Income ratio of 0.4x means cash covers only part of net income — earnings quality needs attention. Over the past year, free cash flow is up 0% — an improving trend.