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Makes an AI software that analyzes coronary CT scans to non-invasively assess heart blood-flow blockages.
Makes an AI software that analyzes coronary CT scans to non-invasively assess heart blood-flow blockages.
Paid per case: a hospital sends a patient's heart CT scan to HeartFlow's cloud service and receives a 3D model of blood flow, then seeks payment from Medicare and private insurers. Sales therefore depend on cardiologists ordering CT scans before invasive procedures and on what insurers pay for the analysis.
Moat: narrow (IP / patents, regulatory licence, data). FDA-cleared, clinically validated AI algorithm with a growing base of reimbursed clinical evidence.
Headquarters: Redwood City, California, United States · Founded: 2007 · Employees: 843
Size HeartFlow (HTFL) is a United States Information Technology company (Packaged Software) with a market value of $4.56B, the 1247th largest of 3,117 United States companies the cockpit tracks. Shares closed at $31.01 on 6 Nov 2026.
Performance Over six months the shares gained 15.1%, against +4.2% for the median peer and -1.1% for the United States market (cap-weighted) — 9th highest of 20 in its peer set.
Growth Revenue grew 39.9% over the last twelve months (peer median +12.5%); the operating margin is -34.3% (peer median 7.5%).
Valuation It trades at 20.9× enterprise value to sales against a peer median of 4.1× (4th most expensive of 21).
Capital Return on invested capital runs 57.1 points below its cost of capital (17.3% WACC).
Short interest Short interest is 8.4% of the free float (15 Oct 2026).
Next results Next results expected around 12 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | |
|---|---|---|---|---|
| Revenue | $212M | $176M | $126M | $87.2M |
| Revenue growth | — | +40% | +44% | — |
| Gross profit | $170M | $135M | $94.4M | $58.1M |
| EBITDA | -$63.7M | -$55.5M | -$53.1M | -$65.3M |
| Net income | -$118M | -$117M | -$96.4M | -$95.7M |
| Free cash flow | -$59.2M | -$59.0M | -$73.4M | -$82.5M |
| Capital expenditure | $6.95M | $5.03M | $4.36M | $6.11M |
| Total debt | $27.1M | $22.1M | $160M | $161M |
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.
| Company | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g |
|---|---|---|---|---|---|---|
| HeartFlow HTFL | $4.56B | +15% | +40% | -34% | 20.9× | n/a |
| Siemens Healthineers SHL.DE | $55.9B | +31% | -1% | 15% | 2.7× | 9.0% |
| GE HealthCare GEHC | $37.2B | +30% | +7% | 14% | 2.1× | 4.3% |
| Artrya AYA.AX | $397M | -27% | 0% | -97,479% | 17,814.0× | n/a |
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 | HTFL | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +13.8% | +4.0% | 7th highest of 21 |
| 6-month return | +15.1% | +4.2% | 9th highest of 20 |
| Distance from 52-week high | -24.8% | -30.1% | 10th highest of 21 |
| Revenue growth (TTM) | +39.9% | +12.5% | 3rd highest of 21 |
| Operating margin | -34.3% | 7.5% | lowest of 21 |
| EV / Sales | 20.9× | 4.1× | 4th most expensive of 21 |
| ROIC minus cost of capital | -57.1 pp | -1.8 pp | lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| HeartFlow HTFL | United States | $4.56B | +15% | +40% | -34% | 20.9× | n/a | n/a |
| RXO RXO | United States | $4.55B | +27% | +10% | 0% | 0.8× | n/a | n/a |
| Planet Labs PBC PL | United States | $4.57B | -68% | +44% | -26% | 11.1× | n/a | n/a |
| CCC Intelligent Solutions CCC | United States | $4.54B | +50% | +11% | 18% | 5.0× | 11.2% | +10.8% |
| Beijing DeepZero Technology 2723.HK | Hong Kong | $4.58B | n/a | +31% | 1% | 45.1× | n/a | n/a |
| Maase MAAS | United States | $4.51B | +7% | -84% | -16% | 168.9× | n/a | n/a |
| BILL BILL | United States | $4.50B | +25% | +13% | 1% | 2.6× | 36.5% | +47.3% |
| Kingsoft 3888.HK | Hong Kong | $4.46B | +4% | 0% | 14% | 1.2× | -5.8% | +10.8% |
| Tenable TENB | United States | $4.40B | +93% | +10% | 5% | 4.5× | 30.1% | +17.8% |
| Yonyou Network Technology 600588.SS | China | $4.72B | -21% | +4% | -16% | 3.7× | n/a | n/a |
| HUB24 HUB.AX | Australia | $4.39B | -4% | +23% | 29% | 12.7× | 35.6% | +35.7% |
| OBIC Business Consultants 4733.T | Japan | $4.74B | +62% | +12% | 47% | 11.4× | 3.2% | +11.9% |
| Shanghai Stonehill Technology 002195.SZ | China | $4.77B | -34% | +11% | -25% | 35.3× | n/a | n/a |
| Asseco Poland ACP.WA | Poland | $4.85B | +31% | +2% | 11% | 1.2× | 4.0% | +6.6% |
| Sega Sammy 6460.T | Japan | $4.28B | +46% | +24% | 10% | 1.4× | -2.3% | +11.9% |
| Sportradar SRAD | United States | $4.22B | +4% | +25% | 13% | 2.4× | 11.3% | +25.8% |
| China National Software & Service 600536.SS | China | $4.22B | -20% | -16% | 0% | 6.2× | 49.7% | -7.3% |
| OPENLANE OPLN | United States | $4.22B | -9% | +13% | 17% | 3.1× | 11.1% | -2.4% |
| Kingdee International Software 0268.HK | Hong Kong | $4.16B | +3% | +17% | 2% | 3.5× | 45.4% | +15.0% |
| Beijing HyperStrong Technology 688411.SS | China | $4.99B | -29% | +38% | 12% | 2.5× | n/a | n/a |
| Sezzle SEZL | United States | $5.05B | +146% | +43% | 40% | 9.5× | 28.8% | +50.3% |