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Employees: 1,160
Size HealthStream (HSTM) is a United States Information Technology company (Packaged Software) with a market value of $884M, the 2326th largest of 3,117 United States companies the cockpit tracks. Shares closed at $28.89 on 6 Nov 2026.
Performance Over six months the shares gained 20.6%, against -3.5% for the median peer and -1.1% for the United States market (cap-weighted) — 5th highest of 20 in its peer set.
Growth Revenue grew 9.8% over the last twelve months (peer median +21.1%); the operating margin is 7.6% (peer median 1.8%).
Valuation It trades at 38.7× forward earnings against a peer median of 25.4× (4th most expensive of 16).
Price implies For today's price to make sense, revenue must grow about 15% a year for seven years (Req g). Recent delivered growth is +4%, so the hurdle is +10 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 0.5 points below its cost of capital (7.1% WACC).
Backlog Backlog (remaining performance obligations) was $686M at 30 Sep 2026, up 10% on a year earlier — 2.1 years of trailing revenue. Backlog detail →
Short interest Short interest is 4.1% of the free float (15 Oct 2026).
Next results Next results expected around 22 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $328M | $304M | $292M | $279M | $267M |
| Revenue growth | — | +4% | +5% | +5% | — |
| Gross profit | $167M | $153M | $152M | $143M | $138M |
| EBITDA | $69.8M | $63.7M | $62.5M | $57.1M | $50.4M |
| Net income | $20.5M | $18.3M | $20.0M | $15.2M | $12.1M |
| Free cash flow | $40.2M | $31.2M | $29.5M | $36.0M | $26.1M |
| Capital expenditure | $30.1M | $32.2M | $28.1M | $28.0M | $25.1M |
| Total debt | $12.8M | $17.6M | $20.2M | $23.2M | $26.2M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | HSTM | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -11.0% | +0.4% | 3rd lowest of 21 |
| 6-month return | +20.6% | -3.5% | 5th highest of 20 |
| Distance from 52-week high | -18.9% | -40.8% | 6th highest of 21 |
| Revenue growth (TTM) | +9.8% | +21.1% | 7th lowest of 21 |
| Operating margin | 7.6% | 1.8% | 9th highest of 21 |
| Forward P/E | 38.7× | 25.4× | 4th most expensive of 16 |
| Growth the price implies (Req g, 7 yrs) | 14.6% | 10.6% | 6th most demanding of 12 |
| Growth delivered (Del g) | +4.4% | +15.8% | 3rd lowest of 12 |
| Hurdle (Req g minus delivered) | +10.2 pp | -16.3 pp | 3rd most demanding of 12 |
| ROIC minus cost of capital | -0.5 pp | -5.4 pp | 9th highest of 20 |
| EV / EBITDA | 11.2× | 15.8× | 4th cheapest of 9 |
| Net debt / EBITDA | -1.5× | -0.4× | least indebted of 10 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| HealthStream HSTM | United States | $884M | +21% | +10% | 8% | 38.7× | 14.6% | +4.4% |
| Qt Group Plc QTCOM.HE | Finland | $887M | +62% | +17% | 16% | 26.8× | 16.4% | +22.2% |
| Timee 215A.T | Japan | $878M | +9% | +56% | 18% | 21.0× | 0.0% | +89.1% |
| Beijing Shenzhou Aerospace Software Technology 688562.SS | China | $878M | -21% | +24% | -5% | n/a | n/a | n/a |
| Montnets Cloud Technology 002123.SZ | China | $875M | -21% | -30% | -11% | 22.8× | n/a | n/a |
| BlackSky Technology BKSY | United States | $873M | -46% | +4% | -43% | n/a | n/a | n/a |
| Frequentis FQT.DE | Germany | $870M | -15% | +34% | 9% | 19.0× | -7.6% | +14.1% |
| Rastar 300043.SZ | China | $870M | -20% | -43% | 20% | n/a | 10.6% | +3.7% |
| Appier 4180.T | Japan | $869M | +50% | +28% | 7% | 30.7× | 19.5% | +37.3% |
| Shenzhen Farben Information Technology 300925.SZ | China | $867M | -27% | +22% | 1% | 45.7× | n/a | n/a |
| Cybozu 4776.T | Japan | $862M | +43% | +20% | 27% | 16.8× | -2.8% | +19.0% |
| Fujian Boss Software 300525.SZ | China | $861M | -24% | -5% | 8% | 26.4× | 5.4% | +12.1% |
| RateGain Travel Technologies RATEGAIN.NS | India | $910M | +15% | +114% | 15% | 22.9× | 32.4% | +48.7% |
| Tier IV 593A.T | Japan | $913M | n/a | +66% | -164% | n/a | n/a | n/a |
| Beijing Global Safety Technology 300523.SZ | China | $855M | -14% | +29% | -11% | 34.9× | n/a | n/a |
| N-able NABL | United States | $914M | -1% | +10% | 3% | 11.6× | 26.5% | +10.9% |
| Viant Technology DSP | United States | $854M | +7% | +22% | 36% | 50.8× | -4.6% | +15.8% |
| Youon Technology 603776.SS | China | $852M | +3% | +34% | -28% | n/a | 16.7% | -14.0% |
| Asiainfo Security Technologies 688225.SS | China | $917M | -4% | -4% | -7% | 89.9× | n/a | n/a |
| Beijing eGOVA 300075.SZ | China | $851M | -29% | -5% | -102% | 25.4× | n/a | n/a |
| PAR Technology PAR | United States | $850M | +43% | +19% | -10% | 17.7× | n/a | n/a |
HealthStream reported $686M of remaining performance obligations at 30 Sep 2026, up 10% from a year earlier and up 0% from the previous quarter. That is 2.1 years of trailing revenue already under contract. Book-to-bill last quarter: 1.01.