What is Healthstream Inc worth?
With the base-case assumptions below, a discounted cash flow model on Healthstream Inc's reported free cash flow gives $37.07 per share. The share price was $28.71 on November 10, 2026, 23% below that value.
Inputs from the filings
Three sets of assumptions
| Case | Growth yrs 1-5 | Discount rate | Value per share | Value vs price |
|---|---|---|---|---|
| Bear | -0.5% | 10.0% | $23.68 | -18% |
| Base | 4.5% | 9.0% | $37.07 | +29% |
| Bull | 9.5% | 8.0% | $63.15 | +120% |
Sensitivity: base case value per share
| 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | |
|---|---|---|---|---|---|
| 7.0% | $46.61 | $49.50 | $53.04 | $57.47 | $63.15 |
| 8.0% | $39.50 | $41.38 | $43.60 | $46.26 | $49.52 |
| 9.0% | $34.30 | $35.59 | $37.07 | $38.80 | $40.84 |
| 10.0% | $30.34 | $31.25 | $32.29 | $33.47 | $34.83 |
| 11.0% | $27.22 | $27.89 | $28.63 | $29.48 | $30.43 |
Where the presets come from
Base: years 1 to 5 grow at Healthstream Inc's revenue growth rate over the last 5 fiscal years (4.4% a year), held between -5% and 15%. Years 6 to 10 grow halfway between that and the long-run rate of 2.5%. Future cash is discounted at 9% a year.
Bear: 5 points less growth, 2% long-run growth, 10% discount rate. Bull: 5 points more growth (at most 25%), 3% long-run growth, 8% discount rate.
Value per share = (present value of 10 years of free cash flow + present value of everything after + cash - debt) / diluted shares.
This is a model run on assumptions, not a recommendation or a price target. Small changes in the discount rate or growth move the result a lot, as the table above shows. Change them yourself in the calculator.
Adjust the assumptions
Move the sliders for growth, long-run growth and discount rate, or switch to average free cash flow, and see the value per share change.
Adjust the assumptions