$34.18

-0.68 (-1.95%)

Weekly Expected Move ±2.9%

$33 $34 $35 $36 $37

NASDAQ · Healthcare · Medical - Healthcare Information Services · Tech Score Strong Buy · Power 72 · $1.0B mcap · 22M float · 0.905% daily turnover · Short 54% of daily vol

Credit Risk of going bust: lower than 92% of companies Debt: 1.3% of company value Bonds: none of note held by US funds details ▾

Of US companies ranked in the safest four tenths, about 1 in 3,500 filed for bankruptcy within a year (2020-2025).
If the stock fell to about $0.03 (down 99.9%), HealthStream, Inc. would be worth roughly what it owes.
Total debt $13.4M against a stock market value of $1.05B.
Distance to default 15.85 (Merton model): prices to 2026-10-27, balance sheet 2026-06-30, debt counted $6.7M (short-term plus half of long-term), stock volatility 32.0%; Altman Z'' 3.55. A ranking and a back-test, not a forecast.
US fund filings (SEC N-PORT) show under $25M of this company's bonds, so there is no bond page. Its debt may be bank loans or privately placed. How these are computed.

Edge Score

Quantitative competitive moat analysis scoring five pillars of durable advantage — cost leadership, brand intangibles, switching costs, network effects, and efficient scale — using industry percentile rankings on a 0–100 scale.

NARROW EDGE

56.2 / 100

NoneWeakNarrowWide

Primary source: Cost Advantage · ROIC: 6.5% · 5Y Avg: 5.2%

Cost Advantage ★

Intangibles

Switching Cost

Network Effect

Scale

The Edge Score quantifies a company's competitive moat using five pillars: Cost Advantage (20%, operating margin and SG&A efficiency vs industry peers), Intangible Assets (25%, gross margin premium, R&D intensity, brand pricing power), Switching Costs (25%, revenue stability, earnings consistency, customer retention proxied by operating leverage), Network Effects (15%, revenue growth with expanding margins, market share dominance), and Efficient Scale (15%, market concentration, ROIC sustainability). Each pillar is scored 0–100 using industry percentile rankings, then weighted into a composite. Wide ≥ 70, Narrow ≥ 55, Weak ≥ 40, None < 40. HSTM has a Narrow competitive edge (56.2/100) — meaningful but not impregnable advantages over competitors. The primary source of advantage is Cost Advantage. ROIC of 6.5% suggests modest returns relative to capital deployed.

Analyst Insights

Wall Street analyst consensus based on price targets and buy/sell/hold recommendations from institutional research coverage over the trailing 12 months.

Analyst Price Targets

Low

$25

Avg Target

$25

High

Based on 3 analyst ratings (12 mo)

Analyst Recommendations

Strong Buy: 0Buy: 7Hold: 9Sell: 0Strong Sell: 0

Rating Summary

ConsensusHold

Avg Target$25.33

Analysts3

Price Target Change History

Date	Firm	Analyst	Old	New	Change	Upside @ Call	Stock@Call
2026-07-21	Canaccord Genuity	—	$24	$27	+3	-4.7%	$28.33
2026-05-06	Canaccord Genuity	—	$25	$24	-1	-1.5%	$24.36
2026-01-08	Canaccord Genuity	—	$29	$25	-4	+9.9%	$22.75
2024-10-23	Canaccord Genuity	Richard Close	Initiated	$29	—	-3.6%	$30.07

Financial Rating

Composite financial health rating (A+ to F) based on discounted cash flow valuation, return on equity, return on assets, debt-to-equity leverage, and relative P/E and P/B multiples.

A-

Oct 27, 2026

DCF

ROE

ROA

D/E

P/E

P/B

The Financial Rating evaluates six fundamental factors — discounted cash flow (DCF) valuation, return on equity (ROE), return on assets (ROA), debt-to-equity leverage (D/E), and relative price-to-earnings (P/E) and price-to-book (P/B) multiples — each scored 1–5. HSTM receives an overall rating of A-. Strongest factors: DCF (5/5), ROA (4/5), D/E (4/5). Areas of concern: P/E (1/5).

Rating Change History

Date	From	To
2026-10-22	B+	A-
2026-10-01	A-	B+
2026-08-18	B+	A-
2026-08-14	A-	B+
2026-08-10	B+	A-
2026-08-04	A-	B+
2026-07-01	B+	A-
2026-05-18	A-	B+
2026-04-30	B+	A-
2026-04-24	A-	B+

InsiderStreet Scorecard

Proprietary multi-factor scorecard rating companies across seven fundamental dimensions — profitability, balance sheet strength, earnings quality, growth, value, momentum, and safety — each scored 0–100.

★ ★ ★ ★ ★ 63 Grade A

Profitability

Balance Sheet

Earnings Quality

Growth

Value

Momentum

Safety

100

Cash Flow

The InsiderStreet Scorecard rates companies across eight dimensions: Profitability (margins, ROA, ROE), Balance Sheet (leverage, liquidity, coverage), Earnings Quality (accruals, cash conversion), Growth (revenue and earnings trajectory), Value (P/E, P/B, earnings yield, Graham criteria), Momentum (revenue and earnings acceleration), Safety (Altman Z-Score risk adjustment), and Cash Flow (operating cash flow quality, FCF conversion, cash coverage). The overall score blends 35% quality, 35% value, and 30% momentum, with a penalty for distress-zone Altman scores. HSTM scores highest in Safety (100/100) and lowest in Profitability (41/100). An overall grade of A places HSTM among the highest-quality companies in its peer group.

Risk & Quality Signals

Academic financial models used by institutional investors to assess bankruptcy risk, earnings manipulation, financial strength, and credit quality.

Altman Z-Score

4.08

Safe Zone

Piotroski F-Score

8/9

✓ ✓ ✓ ✓ ✓ ✗ ✓ ✓ ✓

Beneish M-Score

-2.75

Unlikely Manipulator

Ohlson O-Score

-8.43

Bankruptcy prob: 0.0%

Low Risk

Credit Rating

AA+

Score: 93.7/100

Trend: Stable

Earnings Quality

75/100

OCF/NI: 3.39x

Accruals: -9.9%

The Altman Z-Score (1968) combines five ratios — working capital, retained earnings, EBIT, market value of equity, and sales, all relative to total assets or liabilities — into a single bankruptcy predictor. HSTM scores 4.08, placing it in the Safe Zone (safe > 2.99, distress < 1.81). Bankruptcy is statistically unlikely within the next two years. The Piotroski F-Score (2000) is a 9-point binary checklist — four profitability tests (positive ROA, positive cash flow, improving ROA, cash flow exceeding net income), three leverage tests (declining debt ratio, improving current ratio, no share dilution), and two efficiency tests (improving gross margin, improving asset turnover). Each pass scores 1 point. HSTM scores 8/9, signaling strong financial health across all three dimensions. The Beneish M-Score (1999) is an 8-variable model that detects earnings manipulation by comparing year-over-year changes in receivables, gross margins, asset quality, sales growth, depreciation, SG&A, leverage, and accruals. Scores above −1.78 statistically resemble past manipulators. HSTM's score of -2.75 falls below this threshold, suggesting earnings are unlikely to be manipulated. The Ohlson O-Score (1980) is a 9-variable logistic regression that estimates bankruptcy probability using firm size, leverage, working capital, current ratio, profitability (ROA), cash flow coverage, negative equity flag, consecutive losses flag, and earnings trajectory. The raw score is converted to a probability via logistic transformation. HSTM's implied 0.0% bankruptcy probability is well within safe territory. Our Credit Rating model scores companies on five weighted components — solvency (30%), earning power (25%), leverage (20%), liquidity (15%), and cash flow quality (10%) — then blends the absolute score with sector and industry peer rankings. For companies with large buyback programs, equity is adjusted by adding back cumulative 5-year repurchases (capped at 80% of FCF generated) to avoid penalizing shareholder-friendly capital allocation. HSTM receives an estimated rating of AA+ (score: 93.7/100), with a stable trend. The Earnings Quality score measures how well reported earnings are backed by real cash. It evaluates the operating cash flow to net income ratio (OCF/NI ≥ 1.0 means every dollar of earnings is cash-backed) and the accruals ratio (the gap between earnings and cash flow relative to assets — lower is better). HSTM's score of 75/100 is high — cash flows strongly support reported earnings.

Valuation

Key valuation multiples comparing the stock's market price to its earnings, revenue, book value, and cash flows. Lower multiples may indicate relative undervaluation versus peers.

P/E

47.76x

PEG

6.40x

P/S

3.26x

P/B

2.81x

P/FCF

16.38x

P/OCF

11.15x

EV/EBITDA

10.41x

EV/Revenue

2.33x

EV/EBIT

27.42x

EV/FCF

15.29x

Earnings Yield

2.65%

FCF Yield

6.10%

Shareholder Yield

3.14%

Graham Number

$14.04

Equity-based multiples (P/E, P/B, P/FCF) compare the stock price to per-share fundamentals and are affected by capital structure. Enterprise value multiples (EV/EBITDA, EV/Revenue, EV/FCF) strip out debt and cash, making them more useful for cross-company comparisons regardless of how companies are financed. The Graham Number — √(22.5 × EPS × Book Value) — is Benjamin Graham's formula for the maximum price a defensive investor should pay. At 47.8x earnings, HSTM is priced for high growth expectations. Graham's intrinsic value formula yields $14.04 per share, 143% below the current price.

DuPont Decomposition (5-Factor)

The 5-factor DuPont framework breaks Return on Equity into its component drivers — tax efficiency, interest burden, operating profitability, asset utilization, and financial leverage — to reveal what truly drives shareholder returns.

Tax Burden

0.768

NI / EBT

Interest Burden

1.014

EBT / EBIT

EBIT Margin

0.085

EBIT / Rev

Asset Turnover

0.629

Rev / Assets

Equity Multiplier

1.445

Assets / Equity

ROE

6.0%

The 5-factor DuPont identity decomposes ROE as: Tax Burden × Interest Burden × EBIT Margin × Asset Turnover × Equity Multiplier = ROE. This reveals whether returns are driven by operating performance, financial leverage, or tax efficiency — three very different sources of profitability. HSTM's ROE of 6.0% is driven by Asset Turnover (0.629), indicating efficient use of assets to generate revenue.

Graham-Dodd Adjusted Valuation

Our adaptation of Graham's growth formula (Fair P/E = 8.5 + 2g) from The Intelligent Investor. The classic version relies on analyst growth projections, which can be unreliable. This adjusted model substitutes the company's realized 3-year EPS CAGR — a backward-looking, verifiable measure of actual earnings power — grounding the valuation in demonstrated performance rather than forecasts.

Two adjustments we make, and why. Growth is capped at 15%. Graham defined g as expected growth over the next seven to ten years, not last year's rate. Across US companies since 1994 the median realized 7-year EPS growth is 5–8% regardless of how fast a company grew beforehand, and of 4,457 company-quarters that grew faster than 200%, none sustained it. Uncapped, the formula assigned fair multiples in the hundreds to companies that had never held that rate — and scored worse than simply reading the P/E. Capped, it carries real information. The verdict has three states, not two. Tested over 377,249 stock-months, this ratio only separates outcomes at its extremes: below 0.25 beat the universe by 1.3 points a year, above 3.0 lagged by 2.7, and everything in between sat inside a one-point band. Rather than call two-thirds of the market "undervalued" on a threshold of 1.0, we say Neutral where the model cannot tell — which is most of the time.

Adj. Growth Rate

15.00%

Fair P/E

38.50x

Intrinsic Value

$27.79

Price/Value

0.98x

Margin of Safety

1.95%

Premium

-1.95%

Assessment

Neutral

Graham's classic formula uses analyst-projected growth to estimate a fair P/E (8.5 + 2g). Our adjusted version replaces that projection with HSTM's realized 15.0% 3-year EPS CAGR, capped at 15% — demonstrated performance rather than forecasts, held to a rate companies have historically sustained. HSTM actually compounded EPS at 20.0% over three years; the model uses 15%, the highest rate it will extrapolate — of 4,457 company-quarters that grew faster than 200%, none sustained it over the following seven years. HSTM trades at a -2% premium to its adjusted intrinsic value of $27.79, suggesting the market is pricing in future growth beyond what historical earnings support. The adjusted fair P/E of 38.5x compares to the current market P/E of 47.8x.

Profitability Trends

Historical profitability ratios tracking how efficiently the company converts revenue into returns for shareholders over time.

Leverage & Solvency Trends

Debt and liquidity metrics showing the company's financial leverage and ability to meet short-term and long-term obligations.

Efficiency & Working Capital Trends

Operating efficiency metrics measuring how quickly the company converts inventory to sales, collects receivables, and manages its cash conversion cycle.

Growth Trends (YoY %)

Year-over-year growth rates for key financial metrics, showing the trajectory of revenue, earnings, and cash flow generation.

Earnings Stability

R-squared of linear regression measuring how predictably revenue, earnings, and margins follow a trend over the trailing 5 years. 1.0 = perfectly predictable; lower values indicate erratic or cyclical behavior.

Monte Carlo Price Simulation

Geometric Brownian Motion with 1,000 antithetic paths over 1 year, seeded from 1800 days of historical volatility. Percentile bands show the range of statistically plausible outcomes — this is a statistical model, not a forecast.

Current Price

$34.18

Median 1Y

$33.79

5th Pctile

$19.81

95th Pctile

$57.91

Ann. Volatility

31.6%

25th–75th percentile 5th–95th percentile Median path Historical

Executive Compensation

C-suite compensation breakdown including salary, stock awards, options, and incentive pay. The CEO-to-employee pay ratio and Gini coefficient measure pay distribution fairness.

C-Suite Compensation

Executive	Salary	Stock	Total
Michael M. Collier Executive Vice President, Corporate Strategy, Development, and Operations	$381,937	$507,303	$1,132,032
Kevin P. O'Hara Executive Vice President, Workforce Platform and Applications	$371,135	$454,598	$1,063,363
Trisha L. Coady Executive Vice President, Workforce Development Solutions	$371,135	$425,721	$1,035,818
Scott A. Roberts Senior Vice President and Chief Financial Officer	$344,000	$338,746	$868,309
Robert A. Frist, Jr. Chief Executive Officer	$400,500	$224,977	$868,037

CEO Pay Ratio

12:1

CEO-to-Employee Pay Ratio

CEO Total Comp: $868,037

Avg Employee Cost (SGA/emp): $72,131

Employees: 1,139

C-Suite Pay Equality (Gini)

CEO Compensation Mix

Workforce & Productivity

Workforce efficiency metrics measuring revenue, profit, and R&D spend per employee — key indicators of operational leverage and human capital productivity.

Employees

1,139

+5.2% YoY

Revenue / Employee

$266,957

Rev: $304,064,000

Profit / Employee

$16,104

NI: $18,342,000

SGA / Employee

$72,131

Avg labor cost proxy

R&D / Employee

$44,762

Innovation spend

Scaling Efficiency

All Ratios & Metrics

Complete fundamental data with up to 20 periods of history, sparkline trends, and current values across 13 categories and 130+ financial metrics.

Profitability

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
ROE	2.1%	1.7%	2.0%	2.1%	2.8%	3.6%	3.6%	3.9%	3.9%	4.5%	5.2%	5.2%	5.6%	5.7%	5.4%	5.8%	5.9%	5.1%	5.6%	6.0%	6.00%
ROA	1.5%	1.2%	1.3%	1.5%	1.9%	2.5%	2.4%	2.7%	2.7%	3.0%	3.5%	3.6%	3.9%	4.0%	3.7%	4.1%	4.1%	3.6%	3.8%	4.1%	4.15%
ROIC	2.4%	1.9%	2.3%	2.2%	2.3%	3.2%	3.0%	3.3%	4.1%	4.5%	5.5%	5.3%	6.0%	6.1%	6.1%	6.3%	6.6%	5.1%	6.0%	6.5%	6.53%
ROCE	2.5%	2.1%	2.4%	2.2%	2.4%	3.3%	3.0%	3.2%	3.9%	4.2%	4.9%	5.0%	5.3%	5.4%	5.0%	5.6%	6.0%	5.4%	6.3%	6.8%	6.83%
Gross Margin	64.8%	64.3%	66.3%	66.1%	65.3%	65.7%	65.4%	65.9%	66.5%	66.0%	66.2%	66.8%	66.5%	66.2%	65.3%	64.6%	65.3%	63.8%	65.8%	65.3%	65.35%
Operating Margin	2.8%	-0.7%	6.2%	4.5%	3.5%	4.5%	4.2%	5.8%	6.9%	6.0%	7.8%	6.2%	8.9%	6.3%	6.0%	7.9%	9.9%	3.0%	9.3%	9.9%	9.94%
Net Margin	2.3%	-0.6%	4.4%	4.7%	5.4%	3.6%	3.8%	6.0%	5.5%	6.5%	7.2%	5.8%	7.8%	6.6%	5.9%	7.2%	8.0%	3.2%	7.3%	8.0%	7.96%
EBITDA Margin	17.0%	13.8%	20.4%	18.9%	17.8%	18.5%	18.6%	20.6%	21.7%	20.9%	22.0%	20.7%	22.7%	20.4%	20.6%	22.5%	24.9%	17.4%	23.6%	23.4%	23.40%
FCF Margin	15.2%	13.1%	14.1%	12.7%	13.6%	16.5%	16.1%	17.1%	20.3%	19.9%	19.8%	20.3%	16.0%	17.0%	19.0%	17.6%	19.3%	19.6%	17.1%	15.2%	15.21%
OCF Margin	16.3%	16.5%	17.0%	17.7%	18.7%	19.2%	18.9%	17.8%	21.0%	22.9%	22.8%	23.1%	20.9%	19.8%	21.8%	21.1%	20.5%	20.8%	20.3%	22.4%	22.36%
ROE 3Y Avg	snapshot only																				5.62%
ROE 5Y Avg	snapshot only																				4.56%
ROA 3Y Avg	snapshot only																				3.90%
ROIC 3Y Avg	snapshot only																				5.39%
ROIC Economic	snapshot only																				5.45%
Cash ROA	snapshot only																				13.76%
Cash ROIC	snapshot only																				23.67%
CROIC	snapshot only																				16.11%
NOPAT Margin	snapshot only																				6.17%
Pretax Margin	snapshot only																				8.60%
R&D / Revenue	snapshot only																				16.83%
SGA / Revenue	snapshot only																				26.36%
SBC / Revenue	snapshot only																				2.68%

Valuation

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
P/E Ratio	124.92	140.26	94.46	92.24	69.51	62.27	69.35	58.08	50.30	53.71	45.17	47.40	44.51	48.46	51.32	41.34	40.63	37.39	30.59	37.75	47.764
P/S Ratio	3.52	3.19	2.35	2.52	2.45	2.82	3.03	2.73	2.37	2.93	2.85	2.97	3.05	3.33	3.36	2.85	2.82	2.26	1.95	2.49	3.257
P/B Ratio	2.61	2.42	1.89	2.00	1.95	2.25	2.44	2.19	1.92	2.40	2.33	2.42	2.47	2.70	2.70	2.40	2.41	1.94	1.73	2.24	2.809
P/FCF	23.10	24.39	16.72	19.82	17.98	17.15	18.82	16.00	11.70	14.72	14.36	14.62	19.09	19.51	17.67	16.18	14.60	11.50	11.44	16.38	16.384
P/OCF	21.51	19.34	13.86	14.20	13.12	14.71	16.05	15.35	11.29	12.77	12.50	12.85	14.55	16.82	15.38	13.48	13.72	10.83	9.61	11.15	11.148
EV/EBITDA	19.00	17.76	12.87	14.03	13.20	14.33	15.72	13.80	11.03	13.42	12.28	12.85	12.88	14.28	14.35	12.04	11.55	9.92	8.08	10.41	10.413
EV/Revenue	3.38	3.10	2.28	2.46	2.34	2.71	2.90	2.60	2.19	2.75	2.62	2.74	2.78	3.06	3.02	2.59	2.56	2.12	1.79	2.33	2.326
EV/EBIT	89.10	98.93	67.01	76.92	69.08	58.03	69.34	57.72	40.89	47.84	39.37	40.69	38.38	41.93	44.27	35.71	32.91	30.12	22.45	27.42	27.419
EV/FCF	22.22	23.71	16.17	19.38	17.20	16.45	18.00	15.27	10.79	13.80	13.21	13.51	17.41	17.96	15.92	14.74	13.26	10.79	10.45	15.29	15.292
Earnings Yield	0.8%	0.7%	1.1%	1.1%	1.4%	1.6%	1.4%	1.7%	2.0%	1.9%	2.2%	2.1%	2.2%	2.1%	1.9%	2.4%	2.5%	2.7%	3.3%	2.6%	2.65%
FCF Yield	4.3%	4.1%	6.0%	5.0%	5.6%	5.8%	5.3%	6.3%	8.5%	6.8%	7.0%	6.8%	5.2%	5.1%	5.7%	6.2%	6.8%	8.7%	8.7%	6.1%	6.10%
PEG Ratio	snapshot only																				6.400
Price/Tangible Book	snapshot only																				21.473
EV/OCF	snapshot only																				10.406
EV/Gross Profit	snapshot only																				3.574
Acquirers Multiple	snapshot only																				28.950
Shareholder Yield	snapshot only																				3.14%
Graham Number	snapshot only																				$14.04

Leverage & Solvency

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Current Ratio	1.10	1.06	0.94	0.91	0.99	0.98	1.03	1.08	1.11	1.10	1.17	1.24	1.32	1.32	1.35	1.25	1.31	0.96	0.97	1.06	1.062
Quick Ratio	1.10	1.06	0.94	0.91	0.99	0.98	1.03	1.08	1.11	1.10	1.17	1.24	1.32	1.32	1.35	1.25	1.31	0.96	0.97	1.06	1.062
Debt/Equity	0.08	0.09	0.08	0.08	0.07	0.07	0.07	0.06	0.06	0.06	0.06	0.05	0.05	0.06	0.05	0.05	0.04	0.04	0.04	0.04	0.038
Net Debt/Equity	-0.10	-0.07	-0.06	-0.04	-0.08	-0.09	-0.11	-0.10	-0.15	-0.15	-0.19	-0.18	-0.22	-0.21	-0.27	-0.21	-0.22	-0.12	-0.15	-0.15	-0.149
Debt/Assets	0.05	0.06	0.05	0.05	0.05	0.05	0.04	0.04	0.04	0.04	0.04	0.04	0.04	0.04	0.03	0.03	0.03	0.03	0.03	0.03	0.026
Debt/EBITDA	0.59	0.65	0.56	0.54	0.52	0.46	0.45	0.42	0.38	0.35	0.32	0.31	0.29	0.32	0.27	0.25	0.23	0.23	0.20	0.19	0.187
Net Debt/EBITDA	-0.74	-0.51	-0.43	-0.32	-0.60	-0.61	-0.72	-0.66	-0.92	-0.89	-1.06	-1.06	-1.24	-1.23	-1.57	-1.17	-1.17	-0.65	-0.76	-0.74	-0.743
Interest Coverage	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Equity Multiplier	1.45	1.44	1.50	1.46	1.46	1.49	1.50	1.45	1.46	1.47	1.48	1.43	1.41	1.42	1.44	1.43	1.43	1.47	1.50	1.46	1.463
Cash Ratio	snapshot only																				0.544
Cash to Debt	snapshot only																				4.969
FCF to Debt	snapshot only																				3.638
Defensive Interval	snapshot only																				206.3 days

Efficiency & Turnover

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Asset Turnover	0.52	0.52	0.52	0.53	0.54	0.54	0.55	0.56	0.57	0.56	0.56	0.57	0.58	0.58	0.56	0.59	0.60	0.59	0.59	0.63	0.629
Inventory Turnover	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Receivables Turnover	9.53	6.34	7.50	9.08	8.80	7.45	6.51	7.87	8.21	7.85	6.51	7.85	9.42	8.37	8.30	9.33	9.95	8.18	9.00	9.41	9.407
Payables Turnover	4.09	12.58	4.78	4.64	4.08	14.69	4.91	4.66	7.35	12.88	7.53	6.87	24.32	13.90	23.28	6.18	6.62	5.06	26.50	6.63	6.630
DSO	38	58	49	40	41	49	56	46	44	46	56	47	39	44	44	39	37	45	41	39	38.8 days
DIO	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0.0 days
DPO	89	29	76	79	89	25	74	78	50	28	48	53	15	26	16	59	55	72	14	55	55.1 days
Cash Conversion Cycle	-51	29	-28	-38	-48	24	-18	-32	-5	18	8	-7	24	17	28	-20	-18	-27	27	-16	-16.3 days
Fixed Asset Turnover	snapshot only																				13.387
Cash Velocity	snapshot only																				4.812
Capital Intensity	snapshot only																				1.624

Growth (YoY)

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Revenue	3.5%	4.9%	4.8%	3.4%	3.3%	3.9%	4.6%	5.6%	5.5%	4.6%	4.6%	4.1%	4.0%	4.5%	3.4%	3.5%	3.7%	4.3%	6.6%	8.8%	8.78%
Net Income	-57.5%	-58.5%	-30.6%	-14.5%	29.4%	1.1%	83.4%	81.6%	41.2%	25.8%	50.7%	38.7%	50.8%	31.5%	7.3%	13.9%	5.0%	-8.3%	4.2%	4.3%	4.25%
EPS	-57.1%	-58.4%	-29.4%	-11.4%	33.7%	1.1%	85.3%	80.0%	40.8%	26.8%	51.9%	39.8%	51.7%	30.9%	6.7%	14.2%	7.7%	-5.5%	8.3%	8.1%	8.09%
FCF	-6.9%	-0.8%	-20.8%	-24.2%	-7.5%	30.6%	19.6%	41.7%	57.1%	26.4%	28.7%	23.9%	-18.2%	-10.5%	-0.9%	-10.2%	25.3%	20.0%	-4.0%	-6.0%	-5.98%
EBITDA	-4.2%	-2.5%	4.6%	1.5%	2.9%	12.3%	8.9%	13.5%	18.0%	13.3%	21.0%	17.7%	13.0%	9.5%	2.2%	4.5%	6.4%	3.7%	11.8%	12.8%	12.78%
Op. Income	-46.4%	-49.1%	-26.0%	-24.4%	-7.7%	54.5%	28.6%	48.7%	66.5%	28.7%	66.5%	55.5%	40.5%	32.9%	6.2%	11.6%	8.0%	-5.0%	17.0%	20.3%	20.29%
OCF Growth	snapshot only																				15.11%
Asset Growth	snapshot only																				4.29%
Equity Growth	snapshot only																				1.72%
Debt Growth	snapshot only																				-15.49%
Shares Change	snapshot only																				-3.55%
Dividend Growth	snapshot only																				12.37%

Growth (CAGR)

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Revenue 3Y	2.7%	3.5%	2.2%	1.4%	1.5%	1.6%	2.6%	3.5%	4.1%	4.5%	4.7%	4.4%	4.2%	4.3%	4.2%	4.4%	4.4%	4.5%	4.9%	5.4%	5.44%
Revenue 5Y	2.6%	2.6%	2.2%	1.7%	1.5%	1.5%	2.2%	2.8%	3.4%	3.8%	3.2%	2.8%	2.8%	2.8%	3.1%	3.6%	4.0%	4.4%	4.8%	5.1%	5.05%
EPS 3Y	-39.7%	-42.9%	-22.3%	-19.0%	-13.0%	-6.8%	-9.6%	-9.3%	-6.9%	3.8%	25.7%	30.7%	41.8%	52.1%	44.3%	42.2%	32.0%	16.2%	20.6%	20.0%	19.95%
EPS 5Y	4.3%	9.4%	13.6%	11.2%	11.1%	4.9%	-17.6%	-16.2%	-16.2%	-12.9%	5.7%	6.0%	7.0%	6.1%	3.7%	3.6%	5.7%	6.7%	18.1%	22.5%	22.45%
Net Income 3Y	-40.2%	-43.4%	-23.4%	-20.7%	-14.6%	-8.5%	-11.2%	-10.5%	-8.1%	2.6%	24.2%	29.1%	40.2%	50.7%	43.7%	42.1%	30.8%	14.9%	19.0%	18.1%	18.10%
Net Income 5Y	4.0%	9.3%	12.7%	10.0%	10.0%	3.9%	-18.3%	-17.1%	-17.1%	-13.9%	4.4%	4.7%	5.8%	4.9%	2.5%	2.6%	4.2%	5.4%	16.5%	20.7%	20.66%
EBITDA 3Y	5.4%	4.1%	3.0%	3.8%	3.7%	5.1%	2.5%	2.2%	5.2%	7.5%	11.3%	10.7%	11.1%	11.7%	10.4%	11.8%	12.4%	8.8%	11.4%	11.5%	11.53%
EBITDA 5Y	9.5%	10.1%	10.0%	8.5%	6.6%	6.9%	5.8%	6.0%	7.3%	7.5%	7.6%	8.3%	8.2%	7.6%	5.9%	5.6%	6.9%	7.1%	9.5%	9.8%	9.83%
Gross Profit 3Y	6.0%	6.9%	6.0%	5.5%	5.4%	5.4%	5.0%	5.3%	5.8%	5.8%	6.5%	5.9%	5.4%	5.3%	4.8%	4.5%	4.3%	3.9%	4.5%	5.2%	5.17%
Gross Profit 5Y	4.8%	5.1%	5.0%	4.7%	4.5%	4.4%	4.7%	5.2%	5.8%	6.3%	5.8%	5.5%	5.4%	5.2%	4.8%	4.7%	4.8%	4.8%	5.5%	5.5%	5.55%
Op. Income 3Y	-11.2%	-19.6%	-19.9%	-18.1%	-14.4%	-5.4%	-12.0%	-12.8%	-6.3%	0.4%	16.6%	20.4%	29.3%	38.3%	31.5%	37.2%	36.2%	17.6%	27.4%	27.8%	27.81%
Op. Income 5Y	3.9%	7.7%	12.3%	8.8%	1.8%	4.9%	-0.7%	-1.2%	1.5%	0.7%	1.9%	4.9%	8.0%	7.7%	3.8%	2.9%	4.6%	5.0%	14.5%	18.6%	18.59%
FCF 3Y	17.1%	10.7%	21.2%	7.4%	8.1%	10.6%	4.9%	9.0%	10.6%	17.9%	6.8%	10.0%	5.9%	13.9%	15.1%	16.3%	17.2%	10.7%	7.0%	1.5%	1.49%
FCF 5Y	32.6%	29.0%	11.7%	2.2%	6.2%	8.8%	16.3%	15.5%	18.4%	17.5%	22.3%	16.8%	10.2%	8.9%	8.0%	7.5%	6.7%	12.0%	3.0%	2.3%	2.33%
OCF 3Y	1.4%	-0.7%	-4.7%	-10.7%	-9.9%	-8.0%	-2.8%	4.6%	9.9%	21.3%	9.6%	12.2%	13.2%	10.8%	13.2%	10.6%	7.7%	7.3%	7.5%	13.8%	13.81%
OCF 5Y	11.3%	11.8%	4.6%	-0.4%	1.8%	1.8%	5.7%	4.6%	7.9%	8.1%	4.9%	0.4%	-2.1%	-2.6%	2.8%	7.9%	6.9%	12.0%	5.3%	9.0%	9.00%
Assets 3Y	5.5%	3.4%	0.0%	0.1%	0.1%	0.6%	1.5%	1.1%	1.5%	-0.0%	0.7%	0.2%	0.5%	1.6%	2.7%	1.5%	1.3%	1.5%	1.6%	1.9%	1.86%
Assets 5Y	4.7%	4.2%	3.8%	3.7%	3.6%	3.9%	1.9%	3.4%	3.4%	2.6%	1.1%	1.0%	0.9%	0.9%	1.7%	0.9%	1.0%	0.8%	1.0%	1.0%	1.00%
Equity 3Y	2.7%	2.1%	-0.3%	-0.3%	-0.4%	-0.4%	0.1%	0.1%	0.6%	0.7%	0.8%	0.9%	1.3%	2.0%	4.0%	2.4%	1.9%	2.0%	1.6%	1.5%	1.54%
Book Value 3Y	3.5%	3.0%	1.2%	1.8%	1.5%	1.4%	1.9%	1.5%	1.9%	1.9%	2.0%	2.0%	2.5%	2.9%	4.4%	2.4%	2.8%	3.1%	3.0%	3.1%	3.14%
Dividend 3Y	-24.4%	-21.2%	-30.7%	-29.2%	—	—	—	5.1%	—	—	—	29.6%	14.2%	4.6%	-3.2%	3.7%	4.4%	4.2%	4.4%	4.3%	4.33%

Growth Quality

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Revenue Stability	0.87	0.77	0.89	0.89	0.71	0.51	0.78	0.91	0.96	0.98	0.91	0.85	0.87	0.87	0.95	0.98	0.99	1.00	0.99	0.96	0.964
Earnings Stability	0.01	0.00	0.07	0.08	0.10	0.17	0.61	0.56	0.54	0.40	0.00	0.00	0.03	0.12	0.19	0.20	0.34	0.51	0.84	0.92	0.916
Margin Stability	0.95	0.95	0.95	0.94	0.94	0.94	0.95	0.95	0.95	0.95	0.95	0.95	0.95	0.95	0.97	0.97	0.98	0.98	0.98	0.98	0.984
Rev. Growth Consistency	0.50	0.50	0.50	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.000
Earn. Growth Consistency	0.00	0.00	0.00	0.00	0.50	0.50	0.50	0.50	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	0.00	1.00	1.00	1.000
FCF Positive Streak	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1
Earnings Persistence	0.50	0.50	0.88	0.94	0.88	0.50	0.50	0.50	0.84	0.90	0.50	0.85	0.50	0.87	0.97	0.94	0.98	0.97	0.98	0.98	0.983
Earnings Smoothness	0.19	0.17	0.64	0.84	0.74	0.30	0.41	0.42	0.66	0.77	0.60	0.68	0.60	0.73	0.93	0.87	0.95	0.91	0.96	0.96	0.958
ROE Trend	-0.03	-0.03	-0.02	-0.02	-0.01	0.01	0.01	0.01	0.01	0.02	0.02	0.02	0.02	0.02	0.01	0.01	0.01	0.00	0.00	0.00	0.005
Gross Margin Trend	0.04	0.03	0.03	0.03	0.02	0.02	0.02	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.00	-0.00	-0.01	-0.01	-0.01	-0.01	-0.009
FCF Margin Trend	0.01	-0.00	-0.03	-0.03	-0.02	0.03	-0.00	0.02	0.06	0.05	0.05	0.05	-0.01	-0.01	0.01	-0.01	0.01	0.01	-0.02	-0.04	-0.037
Sustainable Growth Rate	2.1%	1.7%	2.0%	2.1%	2.8%	3.6%	3.6%	3.4%	3.2%	3.6%	4.1%	4.2%	4.7%	4.7%	4.4%	4.8%	4.8%	4.1%	4.5%	4.9%	4.89%
Internal Growth Rate	1.5%	1.2%	1.3%	1.5%	1.9%	2.5%	2.5%	2.4%	2.2%	2.5%	2.8%	3.0%	3.4%	3.4%	3.1%	3.5%	3.5%	2.9%	3.2%	3.5%	3.51%

Cash Flow Quality

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
OCF/Net Income	5.81	7.25	6.81	6.49	5.30	4.23	4.32	3.78	4.46	4.20	3.61	3.69	3.06	2.88	3.34	3.07	2.96	3.45	3.18	3.39	3.386
FCF/OCF	0.93	0.79	0.83	0.72	0.73	0.86	0.85	0.96	0.96	0.87	0.87	0.88	0.76	0.86	0.87	0.83	0.94	0.94	0.84	0.68	0.680
FCF/Net Income	snapshot only																				2.304
OCF/EBITDA	snapshot only																				1.001
CapEx/Revenue	1.1%	3.4%	2.9%	5.0%	5.0%	2.7%	2.8%	0.7%	0.7%	3.0%	2.9%	2.8%	5.0%	2.7%	2.8%	3.5%	1.2%	1.2%	3.2%	7.1%	7.14%
CapEx/Depreciation	snapshot only																				0.516
Accruals Ratio	-0.07	-0.07	-0.08	-0.08	-0.08	-0.08	-0.08	-0.07	-0.09	-0.10	-0.09	-0.10	-0.08	-0.07	-0.09	-0.08	-0.08	-0.09	-0.08	-0.10	-0.099
Sloan Accruals	snapshot only																				-0.129
Cash Flow Adequacy	snapshot only																				2.675
Earnings Quality Score	snapshot only																				0.750

Dividends & Buybacks

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Dividend Yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.2%	0.3%	0.4%	0.5%	0.4%	0.4%	0.4%	0.4%	0.4%	0.4%	0.5%	0.6%	0.5%	0.40%
Dividend/Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.05	$0.07	$0.10	$0.13	$0.11	$0.11	$0.11	$0.11	$0.12	$0.12	$0.13	$0.13	$0.13	$0.14
Payout Ratio	0.3%	0.3%	0.1%	0.1%	0.0%	0.0%	0.0%	11.9%	17.6%	20.1%	21.9%	18.1%	16.8%	17.0%	18.3%	17.7%	17.7%	20.3%	19.1%	18.4%	18.37%
FCF Payout Ratio	0.0%	0.1%	0.0%	0.0%	0.0%	0.0%	0.0%	3.3%	4.1%	5.5%	7.0%	5.6%	7.2%	6.8%	6.3%	6.9%	6.4%	6.3%	7.2%	8.0%	7.97%
Total Payout Ratio	58.2%	94.1%	3.9%	4.1%	3.1%	2.0%	36.1%	18.6%	36.8%	84.2%	77.0%	73.0%	58.5%	22.6%	25.2%	1.1%	1.4%	1.9%	2.0%	1.2%	1.18%
Div. Increase Streak	0	0	0	0	—	—	—	0	0	0	0	1	1	1	0	1	1	1	0	1	1
Chowder Number	-0.58	-0.52	-0.68	-0.67	—	—	—	218.14	—	—	—	1.11	0.44	0.12	-0.10	0.12	0.11	0.10	0.10	0.09	0.089
Buyback Yield	0.5%	0.7%	4.2%	4.4%	4.5%	3.1%	0.5%	0.1%	0.4%	1.2%	1.2%	1.2%	0.9%	0.1%	0.1%	2.3%	3.1%	4.5%	6.0%	2.6%	2.65%
Net Buyback Yield	0.5%	0.7%	4.2%	4.4%	4.5%	3.1%	0.5%	0.1%	0.4%	1.2%	1.2%	1.2%	0.9%	0.1%	0.1%	2.2%	2.9%	4.2%	5.7%	2.5%	2.50%
Total Shareholder Return	0.5%	0.7%	4.2%	4.4%	4.5%	3.1%	0.5%	0.3%	0.7%	1.6%	1.7%	1.5%	1.3%	0.5%	0.5%	2.6%	3.3%	4.7%	6.3%	3.0%	2.99%

DuPont Factors

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Tax Burden (NI/EBT)	0.76	0.75	0.78	0.83	0.78	0.78	0.79	0.81	0.80	0.82	0.81	0.79	0.80	0.81	0.81	0.81	0.80	0.79	0.77	0.77	0.768
Interest Burden (EBT/EBIT)	0.97	0.96	0.95	1.03	1.33	1.25	1.32	1.28	1.10	1.16	1.16	1.18	1.19	1.17	1.18	1.17	1.11	1.09	1.04	1.01	1.014
EBIT Margin	0.04	0.03	0.03	0.03	0.03	0.05	0.04	0.05	0.05	0.06	0.07	0.07	0.07	0.07	0.07	0.07	0.08	0.07	0.08	0.08	0.085
Asset Turnover	0.52	0.52	0.52	0.53	0.54	0.54	0.55	0.56	0.57	0.56	0.56	0.57	0.58	0.58	0.56	0.59	0.60	0.59	0.59	0.63	0.629
Equity Multiplier	1.43	1.47	1.49	1.46	1.45	1.46	1.50	1.46	1.46	1.48	1.49	1.44	1.43	1.44	1.46	1.43	1.42	1.45	1.47	1.44	1.445

Per Share

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
EPS (Diluted TTM)	$0.23	$0.19	$0.21	$0.23	$0.30	$0.39	$0.39	$0.42	$0.42	$0.50	$0.59	$0.58	$0.64	$0.65	$0.62	$0.67	$0.69	$0.62	$0.68	$0.72	$0.72
Book Value/Share	$10.80	$10.76	$10.41	$10.71	$10.77	$10.88	$10.96	$11.07	$11.12	$11.18	$11.34	$11.44	$11.62	$11.73	$11.86	$11.51	$11.71	$11.91	$11.96	$12.14	$12.17
Tangible Book/Share	$1.25	$1.11	$0.64	$0.57	$0.81	$0.75	$0.89	$1.14	$1.30	$1.33	$1.59	$1.82	$2.09	$2.26	$2.47	$2.14	$2.23	$2.41	$2.57	$1.27	$1.27
Revenue/Share	$8.02	$8.14	$8.35	$8.50	$8.57	$8.69	$8.82	$8.90	$9.00	$9.15	$9.30	$9.34	$9.41	$9.52	$9.56	$9.69	$10.02	$10.23	$10.60	$10.93	$10.96
FCF/Share	$1.22	$1.07	$1.18	$1.08	$1.17	$1.43	$1.42	$1.52	$1.83	$1.82	$1.84	$1.90	$1.50	$1.62	$1.82	$1.71	$1.93	$2.01	$1.81	$1.66	$1.67
OCF/Share	$1.31	$1.34	$1.42	$1.51	$1.60	$1.67	$1.67	$1.58	$1.89	$2.10	$2.12	$2.16	$1.97	$1.88	$2.09	$2.05	$2.06	$2.13	$2.15	$2.44	$2.45
Cash/Share	$1.91	$1.65	$1.46	$1.29	$1.69	$1.75	$1.91	$1.82	$2.33	$2.33	$2.75	$2.72	$3.10	$3.17	$3.70	$2.98	$3.11	$1.92	$2.26	$2.27	$2.28
EBITDA/Share	$1.43	$1.42	$1.48	$1.49	$1.52	$1.64	$1.63	$1.68	$1.79	$1.87	$1.98	$1.99	$2.03	$2.04	$2.02	$2.09	$2.22	$2.18	$2.34	$2.44	$2.44
Debt/Share	$0.85	$0.92	$0.82	$0.81	$0.78	$0.76	$0.74	$0.71	$0.68	$0.66	$0.64	$0.62	$0.59	$0.66	$0.54	$0.52	$0.51	$0.49	$0.48	$0.46	$0.46
Net Debt/Share	$-1.06	$-0.72	$-0.64	$-0.47	$-0.91	$-1.00	$-1.18	$-1.11	$-1.65	$-1.67	$-2.11	$-2.10	$-2.52	$-2.51	$-3.16	$-2.45	$-2.59	$-1.42	$-1.78	$-1.81	$-1.81

Academic Models

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Altman Z-Score	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	4.076
Altman Z-Prime	snapshot only																				6.378
Piotroski F-Score	7	8	7	7	8	8	8	7	8	9	9	9	9	8	7	8	7	6	8	8	8
Beneish M-Score	-2.63	-3.04	-2.78	-2.81	-2.81	-2.64	-2.69	-2.66	-2.85	-3.03	-2.97	-3.05	-2.94	-2.91	-3.05	-2.95	-2.78	-2.72	-2.63	-2.75	-2.748
Ohlson O-Score	snapshot only																				-8.435
ROIC (Greenblatt)	snapshot only																				86.29%
Net-Net WC	snapshot only																				$-1.18
EVA	snapshot only																				$-10524956.15

Credit

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Credit Rating	snapshot only																				AA+
Credit Score	93.60	94.02	87.42	88.10	87.64	91.23	90.44	90.20	87.08	93.92	89.69	93.81	93.29	93.59	92.79	93.15	92.38	90.22	86.52	93.74	93.737
Credit Grade	snapshot only																				2
Credit Trend	snapshot only																				0.590
Implied Spread (bps)	snapshot only																				65.000
Industry Credit Rank	snapshot only																				90
Sector Credit Rank	snapshot only																				90

HSTM NASDAQ

Edge Score

Analyst Insights

Financial Rating

InsiderStreet Scorecard

Risk & Quality Signals

Valuation

DuPont Decomposition (5-Factor)

Graham-Dodd Adjusted Valuation

Profitability Trends

Leverage & Solvency Trends

Efficiency & Working Capital Trends

Growth Trends (YoY %)

Earnings Stability

Monte Carlo Price Simulation

Executive Compensation

C-Suite Compensation

CEO Pay Ratio

C-Suite Pay Equality (Gini)

CEO Compensation Mix

Workforce & Productivity

Scaling Efficiency

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