HealthStream, Inc. (HSTM) Stock Analysis
Healthcare · Health Information Services · NasdaqGS
HealthStream, Inc. (HSTM) posted $304.06M in revenue for fiscal 2025 (up 4.3% year over year), at a 6.0% net margin, and has compounded revenue about 4.4%/yr over five years, per its SEC filings.
Data last refreshed August 2, 2026 from SEC filings · how we compute this
The analyst's take on HealthStream, Inc.
HealthStream, Inc. has grown revenue from $192.12M to $304.06M over the last 10 fiscal years, compounding about 4.4% a year. The most recent year was up 4.3%, roughly in line with its longer-run pace.
Net margin sits at 6%, down 0.9 points year over year.
At today's valuation the market is pricing in roughly 1.7% annual free-cash-flow growth — versus the 12% it actually delivered over the last five years, so the price is arguably undemanding against what it has already proven.
Synthesised from HealthStream, Inc.'s SEC filings — descriptive, not advice. Ask the analyst your own question →
HealthStream, Inc. revenue & earnings — last 10 fiscal years
| Metric | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $192.12M | $214.90M | $231.62M | $254.11M | $244.83M | $256.71M | $266.83M | $279.06M | $291.65M | $304.06M |
| Gross profit | — | — | — | — | — | — | — | — | — | — |
| Net income | $3.75M | $10.00M | $32.22M | $15.77M | $14.09M | $5.84M | $12.09M | $15.21M | $20.01M | $18.34M |
| Net margin | 2.0% | 4.7% | 13.9% | 6.2% | 5.8% | 2.3% | 4.5% | 5.5% | 6.9% | 6.0% |
Source: HealthStream, Inc. SEC filings (10-K). 17 years of history available in the interactive view.
HealthStream, Inc.: no obvious red flags in the filings
Our deterministic scan of the filed statements — receivables vs sales, earnings vs cash, dilution, leverage and margins — didn't flag anything. Ask about the risks →
What growth is priced into HSTM stock?
At today's market cap of $767.19M, HealthStream, Inc. is priced for free-cash-flow growth of about 1.7% per year for 10 years (assuming a 10% discount rate and 2.5% terminal growth, base FCF $59.63M from the FY ending 2025-12-31). For comparison, free cash flow actually grew 12%/yr over the last five fiscal years and revenue 4.4%/yr, computed from its SEC filings. This is a reverse DCF — a translation of the price into a growth assumption you can judge, not a fair value and not advice. Change the assumptions yourself in the interactive view →
Explore 17 years of HealthStream, Inc. financials — interactive
Full income statement, balance sheet and cash flow with CAGR and trend on every row, 48 quarters, valuation ratios, plain-English health checks, and Ask — our SEC-grounded research assistant.
Open the interactive view — freeOr start a 7-day free trial to track HSTM in your portfolio →
HealthStream, Inc. financial history by metric
Compare HealthStream, Inc. with peers
About HealthStream, Inc.
HealthStream, Inc. provides Software-as-a-Service (SaaS) based applications for healthcare organizations in the United States. The company offers hStream, a technology platform; CredentialStream, provides healthcare organizations with tools to support the provider lifecycle management from recruiting, application submission, verification of licensure and other credentials, privileging, appointments by credentialing committees, enrollment, network, management, onboarding, and performance evaluations of providers; ShiftWizard; and Competency Suite, AI/ML-driven clinical competency development system. It also provides applications for performance appraisal, competency management, disclosure management, clinical competency, assessment, development, simulation-based education, clinical rotation and onboarding management, quality management, and industry training. The company's solutions help healthcare organizations in meeting their ongoing learning, clinical development, credentialing, and scheduling needs. It serves the healthcare industry, including private, not-for-profit, and government entities, as well as pharmaceutical and medical device companies, and nursing schools and students. The company was incorporated in 1990 and is headquartered in Nashville, Tennessee.
HealthStream, Inc. — frequently asked questions
What is HealthStream, Inc.'s revenue?
HealthStream, Inc. (HSTM) reported revenue of $304.06M for fiscal year 2025, up 4.3% from the prior year, according to its SEC filings.
Is HealthStream, Inc. profitable?
Yes. HSTM earned net income of $18.34M in fiscal 2025, a net margin of 6.0%.
What is HSTM's P/E ratio?
HealthStream, Inc. trades at a price-to-earnings ratio of about 39.2 based on the latest data in our nightly-refreshed cache.
How fast is HealthStream, Inc. growing?
HSTM's revenue grew at roughly 4.4% per year over the last five fiscal years (compound annual growth rate), computed from SEC-filed statements.
How much debt does HealthStream, Inc. have?
As of fiscal year 2025, HSTM carried roughly $0 in total debt (short- plus long-term borrowings), per its filed balance sheet.
What is HealthStream, Inc.'s market cap?
HealthStream, Inc. (HSTM) has a market capitalization of about $767.19M, based on the latest data in our nightly-refreshed cache.
When does HealthStream, Inc.'s fiscal year end?
HSTM's fiscal year ends in December. Its most recent annual filing covers the fiscal year ending 2025-12-31.
What growth is priced into HSTM stock?
At today's market cap of $767.19M, HealthStream, Inc. is priced for free-cash-flow growth of about 1.7% per year for 10 years (assuming a 10% discount rate and 2.5% terminal growth, base FCF $59.63M from the FY ending 2025-12-31). For comparison, free cash flow actually grew 12%/yr over the last five fiscal years and revenue 4.4%/yr, computed from its SEC filings.
Where does this data come from?
All figures are computed from HealthStream, Inc.'s official SEC filings (10-K and 10-Q), covering 17 years of history, refreshed nightly. stockportfolio.pro does not provide investment advice.