NASDAQ : HSTM
HealthStream, Inc. — Financial statements
Healthcare · Health Information Services · United States
Last price 33.8 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 1.03B
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
HealthStream, Inc. (HSTM) reported revenue of 327.95M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 327.95M | 304.06M | 291.65M | 279.06M | 266.83M | 256.71M |
| Cost of Revenue | 115.64M | 107.21M | 97.94M | 95.02M | 91.14M | 91.03M |
| Gross Profit | 212.32M | 196.85M | 193.71M | 184.04M | 175.68M | 165.68M |
| Selling, General & Admin | 86.58M | 81.66M | 82.29M | 81.41M | 80.81M | 79.15M |
| Research & Development | 55.47M | 50.98M | 48.89M | 45.54M | 44.28M | 41.66M |
| Operating Expenses | 186.99M | 176.12M | 172.42M | 168.02M | 163.03M | 157.62M |
| Operating Income | 25.32M | 20.74M | 21.29M | 16.02M | 12.65M | 8.05M |
| Interest Expense | -101.00K | -101.00K | -100.00K | |||
| Interest & Investment Income | 2.06M | 3.34M | 3.83M | 2.36M | 444.00K | |
| Earnings From Equity Investments | -190.00K | -190.00K | -230.00K | -384.00K | -747.00K | -462.00K |
| Other Non Operating Income (Expenses) | -159.00K | -67.00K | 12.00K | 95.00K | -157.00K | -106.00K |
| EBT Excluding Unusual Items | 26.94M | 23.72M | 24.80M | 18.09M | 12.19M | 7.49M |
| Merger & Restructuring Charges | -500.00K | -500.00K | -200.00K | |||
| Gain (Loss) on Sale of Investments | 425.00K | 3.60M | 279.00K | |||
| Pretax Income | 26.44M | 23.22M | 24.80M | 18.51M | 15.59M | 7.77M |
| Income Tax Expense | 5.95M | 4.88M | 4.80M | 3.30M | 3.49M | 1.92M |
| Earnings From Continuing Operations | 20.48M | 18.34M | 20.01M | 15.21M | 12.09M | 5.84M |
| Net Income | 20.48M | 18.34M | 20.01M | 15.21M | 12.09M | 5.84M |
| Net Income to Common | 20.48M | 18.34M | 20.01M | 15.21M | 12.09M | 5.84M |
| Shares Outstanding (Basic) | 29.43M | 30.02M | 30.39M | 30.57M | 30.65M | 31.53M |
| Shares Outstanding (Diluted) | 29.53M | 30.14M | 30.54M | 30.67M | 30.72M | 31.62M |
| EPS (Basic) | 0.70 | 0.61 | 0.66 | 0.50 | 0.39 | 0.19 |
| EPS (Diluted) | 0.70 | 0.61 | 0.66 | 0.50 | 0.39 | 0.18 |
| Free Cash Flow | 68.97M | 59.63M | 56.26M | 61.77M | 49.42M | 38.97M |
| Free Cash Flow Per Share | 2.33 | 1.98 | 1.84 | 2.01 | 1.61 | 1.23 |
| Dividend Per Share | 0.14 | 0.12 | 0.11 | 0.10 | ||
| Gross Margin | 64.74% | 64.74% | 66.42% | 65.95% | 65.84% | 64.54% |
| Operating Margin | 7.72% | 6.82% | 7.30% | 5.74% | 4.74% | 3.14% |
| Profit Margin | 6.25% | 6.03% | 6.86% | 5.45% | 4.53% | 2.28% |
| Free Cash Flow Margin | 21.03% | 19.61% | 19.29% | 22.13% | 18.52% | 15.18% |
| EBITDA | 44.37M | 38.31M | 38.43M | 35.09M | 31.69M | 29.27M |
| EBITDA Margin | 13.53% | 12.60% | 13.18% | 12.58% | 11.88% | 11.40% |
| D&A For EBITDA | 19.04M | 17.58M | 17.14M | 19.08M | 19.05M | 21.21M |
| EBIT | 25.32M | 20.74M | 21.29M | 16.02M | 12.65M | 8.05M |
| EBIT Margin | 7.72% | 6.82% | 7.30% | 5.74% | 4.74% | 3.14% |
| Effective Tax Rate | 22.51% | 21.00% | 19.34% | 17.82% | 22.42% | 24.74% |
| Advertising Expenses | 1.90M | 1.90M | 1.50M | 1.90M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 58.96M | 36.16M | 59.47M | 40.33M | 46.02M | 46.91M |
| Short-Term Investments | 56.20M | 20.84M | 37.75M | 30.80M | 7.88M | 5.04M |
| Cash & Short-Term Investments | 115.16M | 57.00M | 97.22M | 71.13M | 53.91M | 51.95M |
| Receivables | 38.73M | 39.00M | 35.32M | 38.45M | 42.71M | 34.92M |
| Prepaid Expenses | 25.47M | 16.02M | 11.04M | 10.43M | 8.69M | 10.82M |
| Other Current Assets | 7.64M | 9.55M | 10.20M | 9.07M | 9.15M | |
| Total Current Assets | 179.36M | 119.66M | 153.12M | 130.21M | 114.38M | 106.84M |
| Property, Plant & Equipment | 22.93M | 25.93M | 28.19M | 33.12M | 38.24M | 43.12M |
| Long-Term Investments | 1.50M | 1.50M | 1.50M | 4.52M | 7.04M | |
| Goodwill | 217.52M | 191.22M | 191.38M | 192.40M | 182.50M | |
| Other Intangible Assets | 316.14M | 110.51M | 98.92M | 108.67M | 118.67M | 121.62M |
| Long-Term Deferred Tax Assets | 601.00K | |||||
| Long-Term Deferred Charges | 38.90M | 34.70M | 31.70M | 28.34M | 24.01M | |
| Other Long-Term Assets | 47.41M | 6.36M | 3.11M | 3.36M | 1.19M | 1.02M |
| Total Assets | 565.85M | 520.37M | 510.77M | 499.94M | 497.74M | 486.75M |
| Accounts Payable | 29.33M | 7.77M | 6.63M | 7.46M | 7.29M | 5.13M |
| Accrued Expenses | 25.07M | 22.04M | 24.30M | 27.62M | 18.48M | |
| Current Portion of Leases | 2.89M | 2.80M | 2.97M | 2.84M | 2.93M | |
| Current Unearned Revenue | 91.86M | 88.42M | 84.23M | 83.62M | 79.47M | 73.82M |
| Total Current Liabilities | 121.19M | 124.15M | 115.69M | 118.36M | 117.21M | 100.35M |
| Long-Term Leases | 12.78M | 14.68M | 17.37M | 20.25M | 23.32M | 26.18M |
| Long-Term Unearned Revenue | 1.02M | 1.34M | 1.66M | 2.17M | 2.94M | 1.58M |
| Long-Term Deferred Tax Liabilities | 23.45M | 18.25M | 14.60M | 16.13M | 18.00M | 18.15M |
| Other Long-Term Liabilities | 5.47M | 7.93M | 2.10M | 2.28M | 2.21M | 1.48M |
| Total Liabilities | 163.91M | 166.35M | 151.41M | 159.19M | 163.68M | 147.73M |
| Common Stock | 265.27M | 231.80M | 252.43M | 249.07M | 254.83M | 270.79M |
| Retained Earnings | 138.47M | 123.59M | 108.97M | 92.37M | 80.21M | 68.12M |
| Comprehensive Income & Other | -1.79M | -1.36M | -2.05M | -691.00K | -981.00K | 106.00K |
| Shareholders' Equity | 401.94M | 354.02M | 359.36M | 340.75M | 334.06M | 339.02M |
| Total Liabilities & Equity | 565.85M | 520.37M | 510.77M | 499.94M | 497.74M | 486.75M |
| Total Debt | 12.78M | 17.58M | 20.17M | 23.22M | 26.16M | 29.11M |
| Net Cash (Debt) | 102.38M | 39.43M | 77.05M | 47.91M | 27.75M | 22.84M |
| Net Cash Per Share | 3.47 | 1.31 | 2.52 | 1.56 | 0.90 | 0.72 |
| Filing Date Shares Outstanding | 29.49M | 29.36M | 30.43M | 30.30M | 30.58M | 30.94M |
| Total Common Shares Outstanding | 29.49M | 29.58M | 30.43M | 30.30M | 30.58M | 31.33M |
| Working Capital | 58.17M | -4.49M | 37.43M | 11.85M | -2.84M | 6.50M |
| Book Value Per Share | 13.63 | 11.97 | 11.81 | 11.25 | 10.92 | 10.82 |
| Tangible Book Value | 85.80M | 25.99M | 69.22M | 40.70M | 23.00M | 34.90M |
| Tangible Book Value Per Share | 2.91 | 0.88 | 2.27 | 1.34 | 0.75 | 1.11 |
| Machinery | 17.48M | 15.81M | 17.57M | 20.83M | 21.01M | |
| Leasehold Improvements | 14.06M | 14.42M | 14.94M | 14.94M | 14.94M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 20.48M | 18.34M | 20.01M | 15.21M | 12.09M | 5.84M |
| Depreciation & Amortization | 19.04M | 17.58M | 17.14M | 19.08M | 19.05M | 21.21M |
| Other Amortization | 39.80M | 38.53M | 36.58M | 33.49M | 29.50M | 24.77M |
| Loss (Gain) From Sale of Assets | -25.00K | 21.00K | ||||
| Loss (Gain) From Sale of Investments | -425.00K | -3.60M | -279.00K | |||
| Loss (Gain) on Equity Investments | 131.00K | 190.00K | 230.00K | 384.00K | 747.00K | 462.00K |
| Stock-Based Compensation | 9.02M | 8.14M | 4.47M | 4.15M | 3.55M | 5.30M |
| Provision & Write-off of Bad Debts | 633.00K | 1.01M | 2.60M | 1.02M | 385.00K | 723.00K |
| Other Operating Activities | 4.57M | 3.80M | -2.75M | -2.62M | 713.00K | 712.00K |
| Change in Accounts Receivable | -4.97M | -3.98M | 537.00K | 3.24M | -7.77M | 10.34M |
| Change in Accounts Payable | 113.00K | 1.42M | -5.03M | 4.83M | 3.74M | -4.33M |
| Change in Unearned Revenue | 77.00K | -1.89M | -330.00K | 3.39M | 4.71M | -7.59M |
| Change in Other Net Operating Assets | -17.75M | -19.82M | -15.79M | -17.79M | -11.90M | -14.81M |
| Operating Cash Flow | 71.15M | 63.32M | 57.66M | 63.97M | 51.19M | 42.38M |
| Capital Expenditures | -2.18M | -3.69M | -1.40M | -2.20M | -1.77M | -3.42M |
| Sale of Property, Plant & Equipment | 41.00K | 41.00K | 26.00K | |||
| Cash Acquisitions | -35.40M | -35.09M | -1.30M | -6.62M | -3.96M | -4.71M |
| Sale (Purchase) of Intangibles | -27.90M | -28.48M | -26.74M | -25.81M | -23.33M | -21.93M |
| Investment in Securities | -19.01M | 16.86M | -4.53M | -21.97M | 652.00K | 4.33M |
| Investing Cash Flow | -84.45M | -50.35M | -33.97M | -56.60M | -28.39M | -25.72M |
| Issuance of Common Stock | 39.88M | |||||
| Repurchase of Common Stock | -16.42M | -32.54M | -1.11M | -9.86M | -23.70M | -6.19M |
| Common Dividends Paid | -3.99M | -3.73M | -3.40M | -3.06M | -19.00K | |
| Other Financing Activities | -747.00K | -118.00K | ||||
| Financing Cash Flow | 18.73M | -36.27M | -4.52M | -13.04M | -23.70M | -6.21M |
| Foreign Exchange Rate Adjustments | -5.00K | -7.00K | -36.00K | -23.00K | 21.00K | -114.00K |
| Net Cash Flow | 5.42M | -23.31M | 19.14M | -5.69M | -882.00K | 10.34M |
| Free Cash Flow | 68.97M | 59.63M | 56.26M | 61.77M | 49.42M | 38.97M |
| Free Cash Flow Margin | 21.03% | 19.61% | 19.29% | 22.13% | 18.52% | 15.18% |
| Free Cash Flow Per Share | 2.33 | 1.98 | 1.84 | 2.01 | 1.61 | 1.23 |
| Levered Free Cash Flow | 52.14M | 46.60M | 43.97M | 41.14M | 46.28M | 25.68M |
| Unlevered Free Cash Flow | 52.21M | 46.67M | 44.03M | 41.14M | 46.28M | 25.68M |
| Cash Interest Paid | 101.00K | 101.00K | 101.00K | 132.00K | 99.00K | 132.00K |
| Cash Income Tax Paid | 8.70M | 2.61M | 718.00K | -92.00K | ||
| Change in Working Capital | -22.52M | -24.28M | -20.61M | -6.33M | -11.22M | -16.38M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 1.06B | 684.44M | 967.19M | 818.61M | 759.43M | 831.98M |
| Enterprise Value | 955.62M | 607.14M | 890.24M | 767.81M | 731.63M | 798.28M |
| Last Close Price | 34.58 | 22.97 | 31.52 | 26.69 | 24.42 | 25.92 |
| PE Ratio | 49.68 | 37.32 | 48.34 | 53.81 | 62.81 | 142.34 |
| Forward PE | 43.37 | 30.26 | 48.68 | 64.87 | 80.34 | 146.44 |
| PS Ratio | 3.23 | 2.25 | 3.32 | 2.93 | 2.85 | 3.24 |
| PB Ratio | 2.84 | 1.93 | 2.69 | 2.40 | 2.27 | 2.45 |
| P/TBV Ratio | 12.33 | 26.33 | 13.97 | 20.11 | 33.03 | 23.84 |
| P/FCF Ratio | 15.34 | 11.48 | 17.19 | 13.25 | 15.37 | 21.35 |
| P/OCF Ratio | 14.87 | 10.81 | 16.77 | 12.80 | 14.84 | 19.63 |
| PEG Ratio | 3.61 | 2.52 | 4.06 | 4.63 | 8.03 | 11.72 |
| EV/Sales Ratio | 2.91 | 2.00 | 3.05 | 2.75 | 2.74 | 3.11 |
| EV/EBITDA Ratio | 21.54 | 15.85 | 23.16 | 21.88 | 23.08 | 27.27 |
| EV/EBIT Ratio | 37.74 | 29.28 | 41.82 | 47.93 | 57.84 | 99.10 |
| EV/FCF Ratio | 13.86 | 10.18 | 15.82 | 12.43 | 14.80 | 20.48 |
| Debt / Equity Ratio | 0.03 | 0.05 | 0.06 | 0.07 | 0.08 | 0.09 |
| Debt / EBITDA Ratio | 0.27 | 0.42 | 0.47 | 0.58 | 0.73 | 0.84 |
| Debt / FCF Ratio | 0.18 | 0.29 | 0.36 | 0.38 | 0.53 | 0.75 |
| Net Debt / Equity Ratio | -0.26 | -0.11 | -0.21 | -0.14 | -0.08 | -0.07 |
| Net Debt / EBITDA Ratio | -2.31 | -1.03 | -2.00 | -1.36 | -0.88 | -0.78 |
| Net Debt / FCF Ratio | -1.49 | -0.66 | -1.37 | -0.78 | -0.56 | -0.59 |
| Asset Turnover | 0.61 | 0.59 | 0.58 | 0.56 | 0.54 | 0.52 |
| Quick Ratio | 1.27 | 0.77 | 1.15 | 0.93 | 0.82 | 0.87 |
| Current Ratio | 1.48 | 0.96 | 1.32 | 1.10 | 0.98 | 1.06 |
| Return on Equity (ROE) | 5.45% | 5.14% | 5.71% | 4.51% | 3.59% | 1.74% |
| Return on Assets (ROA) | 2.97% | 2.51% | 2.63% | 2.01% | 1.61% | 1.02% |
| Return on Invested Capital (ROIC) | 6.51% | 5.49% | 5.97% | 4.40% | 3.15% | 1.91% |
| Return on Capital Employed (ROCE) | 5.70% | 5.20% | 5.40% | 4.20% | 3.30% | 2.10% |
| Earnings Yield | 2.01% | 2.68% | 2.07% | 1.86% | 1.59% | 0.70% |
| FCF Yield | 6.52% | 8.71% | 5.82% | 7.55% | 6.51% | 4.68% |
| Dividend Yield | 0.40% | 0.54% | 0.35% | 0.37% | ||
| Payout Ratio | 19.48% | 20.33% | 17.01% | 20.10% | 0.33% | |
| Buyback Yield / Dilution | 2.77% | 1.31% | 0.42% | 0.14% | 2.85% | 1.16% |
| Total Shareholder Return | 3.18% | 1.85% | 0.77% | 0.51% | 2.85% | 1.16% |