HealthStream, Inc. (HSTM) Financial Ratios
27 years of historical data (1999–2025) · Healthcare · Medical - Healthcare Information Services
EV/EBITDA
↓
11.46
↓-21% vs avg
5yr avg: 14.50
30Y Low6.7·High64.9
P/FCF
↓
12.60
↓-34% vs avg
5yr avg: 18.96
30Y Low10.1·High85.2
P/B Ratio
↓
2.18
-8% vs avg
5yr avg: 2.37
30Y Low0.3·High6.0
ROE
↑
5.1%
↓+24% vs avg
5yr avg: 4.1%
30Y Low-53%·High32%
Debt/EBITDA
↓
0.23
↓-43% vs avg
5yr avg: 0.40
30Y Low0.0·High0.7
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
HSTM Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
HealthStream, Inc. trades at 42.0x earnings, 40% below its 5-year average of 70.0x, sitting at the 35th percentile of its historical range. Compared to the Healthcare sector median P/E of 22.1x, the stock trades at a premium of 90%. On a free-cash-flow basis, the stock trades at 12.6x P/FCF, 34% below the 5-year average of 19.0x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $751M | $695M | $971M | $829M | $763M | $833M | $699M | $882M | $781M | $746M | $803M |
| Enterprise Value | $730M | $674M | $932M | $809M | $740M | $816M | $694M | $781M | $647M | $661M | $754M |
| P/E Ratio → | 42.03 | 37.82 | 48.18 | 54.06 | 63.69 | 146.44 | 49.64 | 61.82 | 24.15 | 74.71 | 208.75 |
| P/S Ratio | 2.47 | 2.29 | 3.33 | 2.97 | 2.86 | 3.25 | 2.85 | 3.47 | 3.37 | 3.01 | 3.55 |
| P/B Ratio | 2.18 | 1.96 | 2.70 | 2.43 | 2.28 | 2.46 | 2.09 | 2.61 | 2.45 | 2.48 | 2.81 |
| P/FCF | 12.60 | 11.66 | 32.91 | 13.42 | 15.44 | 21.39 | 20.62 | 20.20 | 31.49 | 25.86 | 85.20 |
| P/OCF | 11.87 | 10.98 | 16.85 | 12.96 | 14.91 | 19.66 | 19.47 | 13.43 | 18.06 | 15.96 | 33.15 |
P/E links to full P/E history page with 30-year chart
HSTM EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
HealthStream, Inc.'s enterprise value stands at 11.5x EBITDA, 21% below its 5-year average of 14.5x. The Healthcare sector median is 14.2x, placing the stock at a 19% discount on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 2.22 | 3.20 | 2.90 | 2.77 | 3.18 | 2.83 | 3.07 | 2.79 | 2.67 | 3.34 |
| EV / EBITDA | 11.46 | 10.58 | 14.90 | 14.17 | 14.69 | 18.18 | 15.08 | 18.34 | 16.28 | 19.53 | 27.14 |
| EV / EBIT | 36.07 | 29.03 | 43.78 | 50.50 | 59.47 | 101.26 | 43.87 | 53.07 | 41.74 | 70.26 | 122.59 |
| EV / FCF | — | 11.30 | 31.57 | 13.10 | 14.98 | 20.93 | 20.48 | 17.89 | 26.08 | 22.92 | 79.94 |
HSTM Profitability
Margins and return-on-capital ratios measuring operating efficiency
HealthStream, Inc. earns an operating margin of 6.7%. ROE of 5.1% is modest. ROIC of 4.7% represents below-average returns on invested capital.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 64.7% | 64.7% | 66.4% | 66.0% | 65.8% | 64.5% | 63.5% | 59.1% | 58.5% | 57.2% | 57.2% |
| Operating Margin | 6.7% | 6.7% | 7.3% | 5.7% | 4.7% | 3.1% | 6.5% | 5.8% | 6.7% | 4.0% | 2.5% |
| Net Profit Margin | 6.0% | 6.0% | 6.9% | 5.5% | 4.5% | 2.3% | 5.8% | 6.2% | 13.9% | 4.0% | 1.7% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 5.1% | 5.1% | 5.7% | 4.5% | 3.6% | 1.7% | 4.2% | 4.8% | 10.4% | 3.4% | 1.3% |
| ROA | 3.6% | 3.6% | 4.0% | 3.0% | 2.5% | 1.2% | 2.8% | 3.4% | 7.6% | 2.5% | 1.0% |
| ROIC | 4.7% | 4.7% | 5.0% | 3.8% | 3.0% | 1.9% | 4.2% | 5.2% | 5.8% | 3.3% | 1.9% |
| ROCE | 5.1% | 5.1% | 5.5% | 4.2% | 3.2% | 2.1% | 4.1% | 4.1% | 4.8% | 3.2% | 1.9% |
HSTM Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
HealthStream, Inc. carries a Debt/EBITDA ratio of 0.2x, which is very conservative (93% below the sector average of 3.2x). The company holds a net cash position — cash of $36M exceeds total debt of $15M, providing substantial financial flexibility for buybacks, acquisitions, or weathering downturns.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.04 | 0.04 | 0.06 | 0.06 | 0.07 | 0.09 | 0.10 | 0.09 | — | — | — |
| Debt / EBITDA | 0.23 | 0.23 | 0.32 | 0.35 | 0.46 | 0.65 | 0.69 | 0.72 | — | — | — |
| Net Debt / Equity | — | -0.06 | -0.11 | -0.06 | -0.07 | -0.05 | -0.01 | -0.30 | -0.42 | -0.28 | -0.17 |
| Net Debt / EBITDA | -0.34 | -0.34 | -0.63 | -0.35 | -0.45 | -0.40 | -0.10 | -2.37 | -3.38 | -2.50 | -1.79 |
| Debt / FCF | — | -0.36 | -1.33 | -0.33 | -0.46 | -0.46 | -0.14 | -2.31 | -5.42 | -2.94 | -5.26 |
| Interest Coverage | — | — | — | — | — | — | — | — | — | — | — |
Net cash position: cash ($36M) exceeds total debt ($15M)
HSTM Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
The current ratio of 0.96x is below 1.0, meaning current liabilities exceed current assets. The current ratio has declined from 1.10x to 0.96x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.96 | 0.96 | 1.32 | 1.10 | 0.98 | 1.06 | 0.96 | 2.14 | 2.30 | 1.98 | 1.87 |
| Quick Ratio | 0.96 | 0.96 | 1.32 | 1.10 | 0.98 | 1.06 | 0.96 | 2.14 | 2.30 | 1.98 | 1.87 |
| Cash Ratio | 0.46 | 0.46 | 0.84 | 0.60 | 0.46 | 0.52 | 0.39 | 1.64 | 1.61 | 1.30 | 1.09 |
| Asset Turnover | — | 0.58 | 0.57 | 0.56 | 0.54 | 0.53 | 0.49 | 0.52 | 0.53 | 0.60 | 0.57 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | 46.81 | 44.21 | 50.29 | 58.42 | 49.65 | 68.73 | 43.63 | 64.62 | 56.03 | 76.54 |
HSTM Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
HealthStream, Inc. returns 4.5% to shareholders annually — split between a 0.5% dividend yield and 4.0% buyback yield. The payout ratio of 20.3% is conservative, leaving significant room for dividend growth or reinvestment. The earnings yield of 2.4% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 0.5% | 0.5% | 0.4% | 0.4% | — | 0.0% | 0.0% | 0.0% | 4.1% | — | — |
| Payout Ratio | 20.3% | 20.3% | 17.0% | 20.1% | — | 0.3% | 0.3% | 0.4% | 100.4% | — | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 2.4% | 2.6% | 2.1% | 1.8% | 1.6% | 0.7% | 2.0% | 1.6% | 4.1% | 1.3% | 0.5% |
| FCF Yield | 7.9% | 8.6% | 3.0% | 7.5% | 6.5% | 4.7% | 4.9% | 4.9% | 3.2% | 3.9% | 1.2% |
| Buyback Yield | 4.0% | 4.3% | 0.1% | 1.2% | 3.1% | 0.7% | 2.9% | 0.1% | 0.0% | 0.1% | 0.0% |
| Total Shareholder Yield | 4.5% | 4.9% | 0.5% | 1.6% | 3.1% | 0.7% | 2.9% | 0.1% | 4.2% | 0.1% | 0.0% |
| Shares Outstanding | — | $30M | $31M | $31M | $31M | $32M | $32M | $32M | $32M | $32M | $32M |
Peer Comparison
Compare HSTM with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 HSTMYou | $751M | 42.0 | 11.5 | 12.6 | 64.7% | 6.7% | 5.1% | 4.7% | 0.2 |
 GDRX | $922M | 31.2 | 4.2 | 5.6 | 92.8% | 11.0% | 4.5% | 10.6% | 0.3 |
 VEEV | $25B | 28.2 | 19.7 | 18.0 | 75.5% | 28.7% | 13.9% | 12.9% | 0.1 |
 HCAT | $129M | -0.7 | 17.3 | — | 33.5% | -11.6% | -58.3% | -6.1% | 11.9 |
 DOCS | $4B | 20.9 | 16.8 | — | 89.1% | 33.3% | 19.3% | 19.8% | 0.0 |
 SKIL | $67M | -0.5 | 6.1 | 2.9 | 73.7% | -7.6% | -439.6% | -5.7% | 6.5 |
 INVA | $2B | 6.8 | 6.8 | 8.5 | 72.3% | 38.5% | 29.1% | 14.2% | 1.3 |
 QTWO | $3B | 53.6 | 23.1 | 13.8 | 54.0% | 5.7% | 8.8% | 5.1% | 3.0 |
 PAYC | $7B | 15.5 | 8.9 | 16.7 | 78.6% | 27.6% | 27.4% | 30.7% | 0.2 |
 HCA | $84B | 13.2 | 8.6 | 10.9 | 41.5% | 15.8% | — | 19.9% | 3.2 |
 AMWL | $141M | -1.4 | — | — | 53.3% | -42.2% | -33.9% | -95.1% | — |
| Healthcare Median | — | 22.1 | 14.2 | 18.5 | 63.9% | -4.3% | -32.6% | -11.6% | 3.2 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 27 years · Updated daily
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HSTM — Frequently Asked Questions
Quick answers to the most common questions about buying HSTM stock.
What is HealthStream, Inc.'s P/E ratio?
HealthStream, Inc.'s current P/E ratio is 42.0x. The historical average is 56.4x. This places it at the 35th percentile of its historical range.
What is HealthStream, Inc.'s EV/EBITDA?
HealthStream, Inc.'s current EV/EBITDA is 11.5x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 19.9x.
What is HealthStream, Inc.'s ROE?
HealthStream, Inc.'s return on equity (ROE) is 5.1%. The historical average is -1.4%.
Is HSTM stock overvalued?
Based on historical data, HealthStream, Inc. is trading at a P/E of 42.0x. This is at the 35th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is HealthStream, Inc.'s dividend yield?
HealthStream, Inc.'s current dividend yield is 0.48% with a payout ratio of 20.3%.
What are HealthStream, Inc.'s profit margins?
HealthStream, Inc. has 64.7% gross margin and 6.7% operating margin.
How much debt does HealthStream, Inc. have?
HealthStream, Inc.'s Debt/EBITDA ratio is 0.2x, indicating low leverage. A ratio below 2x is generally considered financially healthy.