Heartflow, Inc. (HTFL) vs Privia Health Group, Inc. (PRVA)

Heartflow, Inc. and Privia Health Group, Inc. are both Health Information Services companies. Heartflow, Inc. is the larger, with a market value of $4.2B against $2.5B — 1.7× the size. Heartflow, Inc. has negative trailing earnings, so its P/E is not meaningful; Privia Health Group, Inc. trades at 89.6×. Heartflow, Inc. grew revenue faster over the last twelve months: 42.8% against 24.1%. Privia Health Group, Inc. has the higher net margin (1.19% vs −55.8%) and the higher return on invested capital (6.59% vs −42.8%). Across the 16 metrics below, Privia Health Group, Inc. leads on 11 and Heartflow, Inc. on 5.

Valuation

Metric HTFL PRVA Health Information Services median
P/E n/m 89.59 39.52
P/S 20.03 1.05 2.65
P/B 15.19 2.97 2.32
Price to free cash flow n/m 19.00 16.77
EV/EBITDA n/m 36.52 12.35
EV/Sales 20.13 0.88 3.06
Earnings yield (3.72%) 1.12% (1.68%)
Free cash flow yield (1.39%) 5.26% 0.54%

Profitability

Metric HTFL PRVA Health Information Services median
Gross margin 80.08% 10.03% 63.38%
Operating margin (37.84%) 1.90% (8.35%)
Net margin (55.82%) 1.19% (14.70%)
Free cash flow margin (27.91%) 5.56% 0.58%
Return on equity 38.49% 3.58% (6.82%)
Return on assets (46.99%) 2.04% (6.02%)
Return on invested capital (42.81%) 6.59% 0.00%

Growth

Metric HTFL PRVA Health Information Services median
Revenue growth (TTM) 42.77% 24.10% 8.62%
EPS growth (last fiscal year) 82.37% 63.64% —
Revenue growth, 5-year CAGR — 21.04% 12.36%
Net income growth, 5-year CAGR — (6.01%) 0.00%

Health

Metric HTFL PRVA Health Information Services median
Debt to equity 0.00 0.00 0.01
Current ratio 5.08 1.62 2.37
Net debt to EBITDA 3.41 (10.87) 0.50

Dividend

Metric HTFL PRVA Health Information Services median
Dividend yield — — 0.85%
Payout ratio — 0.00 0.00

Size

Metric HTFL PRVA Health Information Services median
Market cap 4.23b 2.48b 352.86m

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