Health Catalyst, Inc.

NasdaqGS:HCAT Stock Report

Market Cap: US$458.8m

Health Catalyst Valuation

Is HCAT undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of HCAT when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: HCAT ($7.36) is trading below our estimate of fair value ($20.17)

Significantly Below Fair Value: HCAT is trading below fair value by more than 20%.


Key Valuation Metric

Which metric is best to use when looking at relative valuation for HCAT?

Key metric: As HCAT is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for HCAT. This is calculated by dividing HCAT's market cap by their current revenue.
What is HCAT's PS Ratio?
PS Ratio1.5x
SalesUS$302.06m
Market CapUS$458.79m

Price to Sales Ratio vs Peers

How does HCAT's PS Ratio compare to its peers?

The above table shows the PS ratio for HCAT vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average3.4x
SLP Simulations Plus
7.9x15.0%US$553.5m
DH Definitive Healthcare
1.9x-1.4%US$647.5m
HSTM HealthStream
3.3x6.0%US$980.6m
TBRG TruBridge
0.7x6.1%US$234.6m
HCAT Health Catalyst
1.5x10.5%US$458.8m

Price-To-Sales vs Peers: HCAT is good value based on its Price-To-Sales Ratio (1.5x) compared to the peer average (3.4x).


Price to Sales Ratio vs Industry

How does HCAT's PS Ratio compare vs other companies in the US Healthcare Services Industry?

14 CompaniesPrice / SalesEstimated GrowthMarket Cap
AMWL American Well
0.5x10.9%US$119.33m
MPLN MultiPlan
0.1x1.7%US$84.25m
CCLD CareCloud
0.4x1.7%US$45.47m
HCTI Healthcare Triangle
0.4xn/aUS$6.40m
HCAT 1.5xIndustry Avg. 2.0xNo. of Companies14PS0246810+
14 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: HCAT is good value based on its Price-To-Sales Ratio (1.5x) compared to the US Healthcare Services industry average (2x).


Price to Sales Ratio vs Fair Ratio

What is HCAT's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

HCAT PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio1.5x
Fair PS Ratio1.2x

Price-To-Sales vs Fair Ratio: HCAT is expensive based on its Price-To-Sales Ratio (1.5x) compared to the estimated Fair Price-To-Sales Ratio (1.2x).


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst HCAT forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$7.36
US$11.54
+56.8%
17.6%US$16.00US$9.00n/a12
Nov ’25US$7.70
US$11.17
+45.0%
23.1%US$16.00US$7.00n/a12
Oct ’25US$8.05
US$11.00
+36.6%
23.0%US$16.00US$7.00n/a14
Sep ’25US$7.19
US$10.79
+50.0%
23.0%US$16.00US$7.00n/a14
Aug ’25US$7.11
US$11.36
+59.7%
24.4%US$16.00US$8.00n/a14
Jul ’25US$6.07
US$11.43
+88.3%
23.6%US$16.00US$8.00n/a14
Jun ’25US$6.63
US$11.50
+73.5%
24.1%US$16.00US$8.00n/a14
May ’25US$6.31
US$12.00
+90.2%
21.6%US$16.00US$8.00n/a14
Apr ’25US$7.28
US$11.93
+63.9%
20.9%US$16.00US$8.00n/a15
Mar ’25US$8.06
US$11.93
+48.1%
20.9%US$16.00US$8.00n/a15
Feb ’25US$9.88
US$12.40
+25.5%
20.6%US$17.00US$8.00n/a15
Jan ’25US$9.26
US$11.54
+24.6%
20.6%US$16.00US$8.00n/a13
Dec ’24US$7.61
US$11.69
+53.6%
21.1%US$16.00US$8.00n/a13
Nov ’24US$7.23
US$13.46
+86.2%
17.4%US$16.00US$8.00US$7.7013
Oct ’24US$10.12
US$14.92
+47.5%
13.0%US$20.00US$12.00US$8.0513
Sep ’24US$11.72
US$15.07
+28.6%
12.9%US$20.00US$12.00US$7.1914
Aug ’24US$14.32
US$15.00
+4.7%
14.7%US$20.00US$11.00US$7.1114
Jul ’24US$12.50
US$15.00
+20.0%
14.6%US$20.00US$11.00US$6.0713
Jun ’24US$11.27
US$15.00
+33.1%
14.6%US$20.00US$11.00US$6.6313
May ’24US$12.98
US$15.80
+21.7%
10.9%US$20.00US$13.00US$6.3115
Apr ’24US$11.67
US$15.85
+35.8%
11.3%US$20.00US$13.00US$7.2813
Mar ’24US$14.32
US$15.77
+10.1%
13.0%US$20.00US$11.00US$8.0613
Feb ’24US$13.82
US$13.46
-2.6%
22.5%US$17.00US$8.00US$9.8813
Jan ’24US$10.63
US$13.47
+26.7%
22.2%US$17.00US$8.00US$9.2615
Dec ’23US$10.64
US$13.47
+26.6%
22.2%US$17.00US$8.00US$7.6115
Nov ’23US$9.04
US$15.93
+76.3%
23.4%US$21.00US$9.00US$7.2315

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.


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