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Friday 6 November 2026
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Heartflow, Inc.
HTFL Healthcare Health Information Services
Heartflow, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $176.0 million, up 39.9% from fiscal 2024.
- Revenue
- +47.6%
- EPS
- +87.7%
- Free cash flow
- +62.6%
Quarter to June 2026, against a year earlier
51.45
0.50
−0.96%
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Target Price Range
Analyst price targets
Free accountTen years at a glance Fiscal years to December
| Ten-year view | Analyst estimates Powerpack | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group | Line | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM Jun ’26 | Trend | 10 yrs | 2026e | 2027e | 2028e | Next 3/yr |
| Income, $m | ||||||||||||||||||
| Income, $m | Revenue | — | — | — | — | — | — | — | 87 | 126 | 176 | 212 | +42.1% | 249 | 309 | 375 | +28.6% | |
| Gross margin, % | — | — | — | — | — | — | — | 66.59 | 75.07 | 76.80 | 80.08 | +10.2 pt | ||||||
| EBT | — | — | — | — | — | — | — | (95) | (96) | (117) | (118) | +10.9% | ||||||
| EBT margin, % | — | — | — | — | — | — | — | (109.10) | (76.60) | (66.39) | (55.86) | +42.7 pt | ||||||
| Net income | — | — | — | — | — | — | — | (96) | (96) | (117) | (118) | +10.5% | ||||||
| Per share, $ | ||||||||||||||||||
| Per share, $ | Revenue | — | — | — | — | — | — | — | 17.84 | 23.46 | 4.78 | 2.45 | (48.3%) | |||||
| Earnings | — | — | — | — | — | — | — | (25.32) | (17.98) | (3.17) | (1.83) | (64.6%) | ||||||
| Cash flow | — | — | — | — | — | — | — | (15.65) | (12.87) | (1.47) | (0.60) | (69.4%) | ||||||
| Capex | — | — | — | — | — | — | — | (1.25) | (0.81) | (0.14) | (0.08) | (67.0%) | ||||||
| Free cash flow | — | — | — | — | — | — | — | (16.90) | (13.68) | (1.60) | (0.68) | (69.2%) | ||||||
| Book value | — | — | — | — | — | — | — | (1.84) | (16.95) | 8.16 | 3.24 | n/m | ||||||
| Shares, m | — | — | — | — | — | — | — | 5 | 5 | 37 | 64 | +174.7% | ||||||
| Valuation, × | ||||||||||||||||||
| Valuation, × | P/E | — | — | — | — | — | — | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.0 | |||||
| P/S | — | — | — | — | — | — | — | 1.22 | 1.22 | 6.10 | 21.27 | 2.8 | ||||||
| P/B | — | — | — | — | — | — | — | 0.00 | 0.00 | 3.57 | 16.13 | 1.2 | ||||||
| EV/Sales | — | — | — | — | — | — | — | 1.91 | 1.91 | 6.13 | 21.36 | 3.3 | ||||||
| EV/FCF | — | — | — | — | — | — | — | (4.17) | (4.17) | (18.29) | (76.56) | (8.9) | ||||||
| Cash, $m | ||||||||||||||||||
| Cash, $m | Operating cash flow | — | — | — | — | — | — | — | (76) | (69) | (54) | (52) | (15.9%) | |||||
| Capex | — | — | — | — | — | — | — | (6) | (4) | (5) | (7) | (9.3%) | ||||||
| Free cash flow | — | — | — | — | — | — | — | (83) | (73) | (59) | (59) | (15.4%) | ||||||
| Balance, $m | ||||||||||||||||||
| Balance, $m | Working capital | — | — | — | — | — | — | — | 116 | 49 | 178 | 180 | +24.0% | |||||
| Net debt | — | — | — | — | — | — | — | 11 | 85 | (177) | (163) | n/m | ||||||
| Shareholders’ equity | — | — | — | — | — | — | — | (9) | (91) | 301 | 280 | n/m | ||||||
| Returns, % | ||||||||||||||||||
| Returns, % | ROA | — | — | — | — | — | — | — | 0.00 | (63.49) | (48.85) | (46.99) | (48.8) pt | |||||
| ROIC | — | — | — | — | — | — | — | (2,031.71) | 0.00 | (32.33) | (42.81) | +1,999.4 pt | ||||||
| ROE | — | — | — | — | — | — | — | 0.00 | 11.78 | 41.80 | 38.49 | +41.8 pt | ||||||
| People | ||||||||||||||||||
| People | Employees | — | — | — | — | — | — | — | — | 699 | 843 | — | +20.6% | |||||
| Revenue/emp, $m | — | — | — | — | — | — | — | 0.00 | 0.18 | 0.21 | — | n/m | ||||||
Negative figures in brackets.
estimates
Fiscal years to Dec 2025 · latest quarter Jun 2026 · fundamentals updated 25 Oct 2026
Heartflow, Inc. vs peers in Health Information Services (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| HNGE Hinge Health Inc. | $9.4B | 86.1× | 56.0× | +53.00% (above 0%: growing) | n/m | +441.14% (above 0%: growing) | 86.44% | 19.00% | Compare |
| HQY HealthEquity, Inc. | $8.6B | 36.9× | 34.8× | +7.64% (above 0%: growing) | +14.49% (above 0%: growing) | −3.44% (below 0%: shrinking) | 73.55% | 28.14% | Compare |
| DOCS Doximity, Inc. | $5.9B | 44.4× | 49.7× | +3.57% (above 0%: growing) | −42.42% (below 0%: shrinking) | +1.87% (above 0%: growing) | 85.48% | 25.16% | Compare |
| WAY Waystar Holding Corp. | $5.6B | 40.9× | 31.9× | +21.21% (above 0%: growing) | −10.22% (below 0%: shrinking) | +23.36% (above 0%: growing) | 69.53% | 18.81% | Compare |
| HTFL Heartflow, Inc. | $4.5B | — (loss-making) | — (loss-making) | +47.57% (above 0%: growing) | n/m | +62.62% (above 0%: growing) | 83.00% | (27.93%) | |
| PRVA Privia Health Group, Inc. | $3.1B | 88.3× | 83.4× | +13.19% (above 0%: growing) | +83.33% (above 0%: growing) | −44.35% (below 0%: shrinking) | 0.00% | 3.13% | Compare |
| SDGR Schrodinger, Inc. | $2.2B | — (loss-making) | — (loss-making) | +18.72% (above 0%: growing) | n/m | +21.64% (above 0%: growing) | 59.32% | (40.52%) | Compare |
| OMCL Omnicell, Inc. | $1.7B | 39.0× | 32.9× | −0.89% (below 0%: shrinking) | +100.50% (above 0%: growing) | +42.62% (above 0%: growing) | 44.77% | 4.85% | Compare |
| TDOC Teladoc Health, Inc. | $1.7B | — (loss-making) | — (loss-making) | −3.41% (below 0%: shrinking) | n/m | +11.76% (above 0%: growing) | 68.56% | (4.64%) | Compare |
| Median of peers | $4.3B | 42.6× | 42.3× | +10.41% | +14.49% | +16.70% | 69.05% | 11.83% |
Pay and ownership Proxy statement filed 29 April 2026
Ownership
Directors and executive officers, together
7.70%
Wellington Management Group LLP
13.80%
BCLS Fund III Investments LP
12.10%
Hayfin Management Holding Limited
6.10%
FMR LLC
5.50%
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more.
Read the proxy statement
Heartflow, Inc. (HTFL) Latest News
16 Aug
14 Aug
13 Aug
14 May
HTFL metrics, ten years each
- Revenue
- Net income
- EPS (diluted)
- EBITDA
- Free cash flow
- Operating cash flow
- Gross margin
- Operating margin
- Net margin
- Free cash flow margin
- P/E ratio
- P/S ratio
- P/B ratio
- Price to free cash flow
- EV/EBITDA
- EV/Sales
- EV/FCF
- Return on equity
- Return on assets
- Return on invested capital
- Debt to equity
- Current ratio
- Shares outstanding
- Book value per share