Saturday 17 October 2026 Export HSTM’s income statement to Excel — free account

HealthStream, Inc.

HSTM Healthcare Health Information Services

HealthStream, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $304.1 million, up 4.26% from fiscal 2024. In the quarter to June 2026, revenue grew 12.6%, EPS grew 27.8% and free cash flow grew 362.7%, each against the same quarter a year earlier. Dividend growth for three consecutive years, revenue growth for five.

33.13 0.62 −1.84%

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Market cap: $1.0B
P/E: 46.0×
Fwd P/E: 34.4×
Dividend yield: 0.41%
F-score: 6/9
Altman Z: 3.53
Beneish M: −2.75
Dividend safety: 78/100

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total sells 4.74

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	1	2	—	—	—	—	2	1	1	—	1	—

Insider Ownership 26.51%

Capital & Financial Ratios $m

Market Cap 1,030.00

Revenue 321.12

Net Income 21.20

Free Cash Flow 69.87

Net Debt (66.73)

Current Ratio 1.06

Debt/Equity 0.00

P/E ratio 46.01

Fwd P/E 34.40

P/S ratio 3.02

P/B ratio 2.72

Past 5Y EPS Growth 6.75%

This Y EPS Growth 20.77%

Next Y EPS Growth 13.57%

Next Y revenue growth 8.30%

Next 5Y EPS Growth 7.94%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/E against its own 10 years 30.63%

10-year low 10-year high

P/S against its own 10 years 45.48%

10-year low 10-year high

P/B against its own 10 years 81.61%

10-year low 10-year high

EV/Sales against its own 10 years 55.84%

10-year low 10-year high

EV/FCF against its own 10 years 23.74%

10-year low 10-year high

Dividends

Payout Ratio 0.19

Annual Dividend Rate 0.14

Annual Dividend Yield 0.41%

	total	individual payouts
2027	Powerpack
2026	0.11	0.04 0.04 0.04
2025	0.12	0.03 0.03 0.03 0.03
2024	0.11	0.03 0.03 0.03 0.03
2023	0.10	0.03 0.03 0.03 0.03
2022	Powerpack
2021	Powerpack
2020	Powerpack
2019	Powerpack
2018	0.00	1.00
2017	Powerpack

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	71	97	57	67
Receivables	38	35	39	37
Inventory	—	—	—	—
Other	—	—	—	—
	130	153	120	130

	2023	2024	2025	Q'26
Payables	7	7	8	7
ST’ Debt	—	—	—	—
Other	—	—	—	—
	118	116	124	123

Compound Annual Growth %

	10y	5y	3y
Sales	3.82%	4.43%	4.45%
Cash Flow	6.13%	12.03%	7.35%
Earnings	7.84%	5.41%	14.90%
Book Value	2.36%	1.17%	1.95%

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	81	84	—	—	—
’25	73	74	76	80	304
’24	73	72	73	74	292
’23	69	69	70	71	279
’22	65	66	67	69	267
’21	63	65	64	64	257
’20	62	61	61	62	245

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	27	13	—	—	—
’25	27	5	18	13	63
’24	21	6	19	11	58
’23	21	5	25	14	64
’22	21	7	15	8	51
’21	19	5	12	6	42
’20	6	7	17	5	36

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	26	13	—	—	—
’25	26	3	18	13	60
’24	20	6	19	11	56
’23	20	4	24	13	62
’22	20	7	15	8	49
’21	17	5	12	5	39
’20	5	7	17	5	34

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	0.20	0.23	—	—	—
’25	0.14	0.18	0.20	0.09	0.61
’24	0.17	0.14	0.19	0.16	0.66
’23	0.09	0.13	0.13	0.15	0.50
’22	0.09	0.10	0.12	0.08	0.39
’21	0.07	0.08	0.05	(0.01)	0.18
’20	0.22	0.11	0.08	0.03	0.44

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	17.80	20.60	21.15	23.61	17.95	21.49	18.51	20.47	23.92	23.04	Analyst estimates 2026–2028 Powerpack
	High	28.84	31.53	31.86	30.00	27.99	31.11	26.78	27.69	33.52	34.24
People
People	Employees	1,120	1,027	790	876	1,069	1,101	1,154	1,092	1,093	1,160
	Revenue/emp, $m	0.17	0.21	0.29	0.29	0.23	0.23	0.23	0.26	0.27	0.26
Income, $m
Income, $m	Revenue	192	215	232	254	245	257	267	279	292	304
	Gross margin, %	60.98	59.42	58.55	59.12	63.51	64.54	65.84	65.95	66.42	64.74
	EBT	8	10	17	18	18	8	16	19	25	23
	EBT margin, %	4.03	4.72	7.16	7.06	7.28	3.03	5.84	6.63	8.50	7.64
	Net income	4	10	32	16	14	6	12	15	20	18
	Depreciation	20	24	32	36	39	46	49	53	54	56
Per share, $
Per share, $	Revenue	6.06	6.74	7.18	7.85	7.66	8.14	8.71	9.13	9.60	10.13
	Earnings	0.12	0.31	1.00	0.49	0.44	0.19	0.39	0.50	0.66	0.61
	Cash flow	0.76	1.47	1.34	2.03	1.12	1.34	1.67	2.09	1.90	2.11
	Capex	(0.12)	(0.17)	(0.22)	(0.68)	(0.06)	(0.11)	(0.06)	(0.07)	(0.05)	(0.12)
	Free cash flow	0.64	1.29	1.12	1.35	1.06	1.24	1.61	2.02	1.85	1.99
	Book value	9.02	9.42	9.89	10.45	10.45	10.75	10.90	11.15	11.83	11.79
	Shares, m	32	32	32	32	32	32	31	31	30	30
Valuation, ×
Valuation, ×	P/E	213.00	76.00	24.15	57.87	49.64	138.74	63.26	53.40	48.18	37.82
	P/S	4.22	3.49	3.36	3.47	2.85	3.24	2.83	2.93	3.31	2.28
	P/B	2.83	2.50	2.44	2.60	2.09	2.45	2.26	2.40	2.69	1.96
	EV/Sales	3.83	3.01	2.76	2.90	2.78	3.14	2.74	2.77	3.08	2.18
	EV/FCF	36.05	15.72	17.69	16.84	20.05	20.72	14.77	12.52	15.95	11.12
Cash, $m
Cash, $m	Operating cash flow	24	47	43	66	36	42	51	64	58	63
	Capex	(4)	(6)	(7)	(22)	(2)	(3)	(2)	(2)	(1)	(4)
	Free cash flow	20	41	36	44	34	39	49	62	56	60
Balance, $m
Balance, $m	Working capital	82	99	135	119	(5)	6	(3)	12	37	(4)
	Total debt	—	—	—	31	28	26	26	—	—	—
	Net debt	(103)	(131)	(169)	(173)	(46)	(52)	(54)	(71)	(97)	(57)
	Shareholders’ equity	286	300	319	338	334	339	334	341	359	354
Returns, %
Returns, %	ROA	0.97	2.48	7.55	3.39	2.85	1.18	2.46	3.05	3.96	3.56
	ROIC	2.45	3.48	6.45	5.57	3.44	1.75	2.78	3.71	5.08	4.26
	ROE	1.33	3.41	10.41	4.80	4.19	1.74	3.59	4.51	5.72	5.14

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
OMCL Omnicell, Inc.	$1.6B	41.6×	55.1×	+7.45% (above 0%: growing)	+341.67% (above 0%: growing)	+107.90% (above 0%: growing)	48.98%	10.39%	Compare
CERT Certara, Inc.	$1.5B	— (loss-making)	— (loss-making)	+0.99% (above 0%: growing)	n/m	−78.46% (below 0%: shrinking)	62.34%	(0.21%)	Compare
GDRX GoodRx Holdings, Inc.	$1.2B	62.7×	30.9×	−1.31% (below 0%: shrinking)	−25.00% (below 0%: shrinking)	+112.45% (above 0%: growing)	89.52%	11.79%	Compare
OMDA Omada Health, Inc.	$1.1B	252×	143×	+43.12% (above 0%: growing)	n/m	+45.71% (above 0%: growing)	72.62%	4.04%	Compare
TDOC Teladoc Health, Inc.	$1.1B	— (loss-making)	— (loss-making)	−3.95% (below 0%: shrinking)	n/m	−27.07% (below 0%: shrinking)	68.56%	(6.11%)	Compare
HSTM HealthStream, Inc.	$1.0B	46.0×	34.4×	+12.55% (above 0%: growing)	+27.78% (above 0%: growing)	+362.71% (above 0%: growing)	65.35%	9.94%
PHR Phreesia, Inc.	$685.3M	64.4×	23.5×	+10.41% (above 0%: growing)	+200.00% (above 0%: growing)	+43.51% (above 0%: growing)	66.64%	5.88%	Compare
MDRX Veradigm Inc.	$654.5M	— (loss-making)	— (loss-making)	−9.74% (below 0%: shrinking)	n/m	−66.33% (below 0%: shrinking)	50.53%	(37.41%)	Compare
SOPH SOPHiA GENETICS SA	$620.6M	— (loss-making)	— (loss-making)	+27.22% (above 0%: growing)	n/m	+6.50% (above 0%: growing)	64.61%	(86.03%)	Compare
Median of peers	$1.1B	63.5×	43.0×	+4.22%	+200.00%	+25.01%	65.63%	1.92%

All 51 Health Information Services stocks →

HealthStream, Inc. (HSTM) key facts

Concern: Net income was $18.3 million, or $0.61 per share (basic), a net margin of 6.03%.
Strength: HealthStream, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $304.1 million, up 4.26% from fiscal 2024.
HealthStream, Inc. (HSTM) is a Health Information Services company in the Healthcare sector, listed on Nasdaq.
As of October 16, 2026, HSTM traded at $33.13, a market capitalization of $1.0 billion.
At that price the stock trades at 46.0× trailing-twelve-month earnings and 3.0× sales; its P/E is higher than 31% of its own readings over the past ten years.
HealthStream, Inc. pays an annual dividend of $0.14 per share, a yield of 0.41%, with a payout ratio of 18.9%.
Return on equity was 5.14% and debt-to-equity 0.00.
Its Piotroski F-score is 6 out of 9 and its Altman Z-score is 3.53 (safe zone) for fiscal 2025.