Health Catalyst, Inc. (HCAT) vs Spok Holdings, Inc. (SPOK)

Health Catalyst, Inc. and Spok Holdings, Inc. are both Health Information Services companies. Spok Holdings, Inc. is the larger, with a market value of $216.5M against $131.0M — 1.7× the size. Health Catalyst, Inc. has negative trailing earnings, so its P/E is not meaningful; Spok Holdings, Inc. trades at 17.4×. Spok Holdings, Inc. grew revenue faster over the last twelve months: −3.39% against −7.54%. Spok Holdings, Inc. has the higher net margin (9.00% vs −90.6%) and the higher return on invested capital (8.20% vs −102.1%). Across the 20 metrics below, Spok Holdings, Inc. leads on 15 and Health Catalyst, Inc. on 5.

Valuation

Metric HCAT SPOK Health Information Services median
P/E n/m 17.43 39.52
P/S 0.44 1.61 2.65
P/B 1.28 1.56 2.32
Price to free cash flow 19.54 8.60 16.77
EV/EBITDA 20.23 10.20 12.35
EV/Sales 0.61 1.49 3.06
Earnings yield (211.49%) 5.74% (1.68%)
Free cash flow yield 5.12% 11.62% 0.54%

Profitability

Metric HCAT SPOK Health Information Services median
Gross margin 50.48% 78.18% 63.38%
Operating margin (84.36%) 11.89% (8.35%)
Net margin (90.61%) 9.00% (14.70%)
Free cash flow margin 2.25% 18.69% 0.58%
Return on equity (118.12%) 8.42% (6.82%)
Return on assets (54.33%) 6.06% (6.02%)
Return on invested capital (102.14%) 8.20% 0.00%

Growth

Metric HCAT SPOK Health Information Services median
Revenue growth (TTM) (7.54%) (3.39%) 8.62%
EPS growth (last fiscal year) (121.74%) 2.74% —
Revenue growth, 5-year CAGR 10.50% (1.17%) 12.36%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric HCAT SPOK Health Information Services median
Debt to equity 1.52 0.00 0.01
Current ratio 2.70 1.09 2.37
Net debt to EBITDA 16.00 (1.09) 0.50

Dividend

Metric HCAT SPOK Health Information Services median
Dividend yield — 7.36% 0.85%
Payout ratio 0.00 0.71 0.00

Size

Metric HCAT SPOK Health Information Services median
Market cap 130.95m 216.50m 352.86m

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