(DH) Definitive Healthcare - Overview
Stock: Data, Software, Analytics, Platforms, Intelligence
EPS (Earnings per Share)
Revenue
| Risk 5d forecast | |
|---|---|
| Volatility | 64.0% |
| Relative Tail Risk | -14.9% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | -0.68 |
| Alpha | -67.13 |
| Character TTM | |
|---|---|
| Beta | 0.825 |
| Beta Downside | 1.068 |
| Drawdowns 3y | |
|---|---|
| Max DD | 83.80% |
| CAGR/Max DD | -0.53 |
Description: DH Definitive Healthcare December 28, 2025
Definitive Healthcare Corp. (NASDAQ:DH) operates a SaaS-based commercial intelligence platform that aggregates and curates detailed data on U.S. and international healthcare providers. The platform supports functions ranging from sales and marketing to clinical research, product development, talent acquisition, and physician-network management, serving biopharma, medical-device firms, health-IT companies, and ancillary players such as staffing, real-estate, and financial services within the broader healthcare ecosystem.
Founded in 2011 and headquartered in Framingham, Massachusetts, DH reported FY 2023 revenue of roughly $140 million, a year-over-year increase of about 30%, reflecting accelerating demand for data-driven go-to-market solutions. The company’s annual recurring revenue (ARR) is now estimated to exceed $120 million, with a gross-margin profile consistently above 80%-a hallmark of scalable SaaS businesses.
Key macro drivers for DH include the sustained rise in pharmaceutical R&D spend (projected to grow > 6% CAGR through 2028), the expanding adoption of real-world evidence in drug development, and the broader digital-health transformation that pushes providers and vendors toward integrated data platforms. Additionally, the shift toward value-based care contracts intensifies the need for granular provider insights, bolstering the addressable market for DH’s services.
For a deeper dive into DH’s valuation metrics, the ValueRay platform offers a concise, data-rich snapshot worth reviewing.
Piotroski VR‑10 (Strict, 0-10) 5.5
| Net Income: -188.7m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.06 > 0.02 and ΔFCF/TA 1.63 > 1.0 |
| NWC/Revenue: 32.87% < 20% (prev 86.19%; Δ -53.32% < -1%) |
| CFO/TA 0.08 > 3% & CFO 59.2m > Net Income -188.7m |
| Net Debt/EBITDA: error (EBITDA <= 0) |
| Current Ratio: 1.52 > 1.5 & < 3 |
| Outstanding Shares: last quarter (103.8m) vs 12m ago -10.83% < -2% |
| Gross Margin: 77.99% > 18% (prev 0.79%; Δ 7720 % > 0.5%) |
| Asset Turnover: 25.01% > 50% (prev 21.65%; Δ 3.36% > 0%) |
| Interest Coverage Ratio: -22.69 > 6 (EBITDA TTM -215.4m / Interest Expense TTM 11.9m) |
Altman Z'' -6.72
| A: 0.11 (Total Current Assets 233.5m - Total Current Liabilities 153.9m) / Total Assets 755.5m |
| B: -1.02 (Retained Earnings -770.2m / Total Assets 755.5m) |
| C: -0.28 (EBIT TTM -270.7m / Avg Total Assets 968.6m) |
| D: -2.11 (Book Value of Equity -771.6m / Total Liabilities 365.9m) |
| Altman-Z'' Score: -6.72 = D |
Beneish M -3.37
| DSRI: 1.03 (Receivables 34.9m/35.8m, Revenue 242.3m/255.8m) |
| GMI: 1.02 (GM 77.99% / 79.46%) |
| AQI: 0.98 (AQ_t 0.67 / AQ_t-1 0.68) |
| SGI: 0.95 (Revenue 242.3m / 255.8m) |
| TATA: -0.33 (NI -188.7m - CFO 59.2m) / TA 755.5m) |
| Beneish M-Score: -3.37 (Cap -4..+1) = AA |
What is the price of DH shares?
Over the past week, the price has changed by -4.92%, over one month by -2.32%, over three months by -18.88% and over the past year by -51.16%.
Is DH a buy, sell or hold?
- StrongBuy: 3
- Buy: 0
- Hold: 9
- Sell: 2
- StrongSell: 0
What are the forecasts/targets for the DH price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 3.9 | 68.5% |
| Analysts Target Price | 3.9 | 68.5% |
| ValueRay Target Price | 1.5 | -34.1% |
DH Fundamental Data Overview January 26, 2026
P/S = 1.044
P/B = 0.8813
Revenue TTM = 242.3m USD
EBIT TTM = -270.7m USD
EBITDA TTM = -215.4m USD
Long Term Debt = 158.2m USD (from longTermDebt, last quarter)
Short Term Debt = 11.4m USD (from shortTermDebt, last quarter)
Debt = 175.4m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 67.1m USD (from netDebt column, last quarter)
Enterprise Value = 242.4m USD (252.9m + Debt 175.4m - CCE 185.9m)
Interest Coverage Ratio = -22.69 (Ebit TTM -270.7m / Interest Expense TTM 11.9m)
EV/FCF = 5.27x (Enterprise Value 242.4m / FCF TTM 46.0m)
FCF Yield = 18.98% (FCF TTM 46.0m / Enterprise Value 242.4m)
FCF Margin = 18.99% (FCF TTM 46.0m / Revenue TTM 242.3m)
Net Margin = -77.88% (Net Income TTM -188.7m / Revenue TTM 242.3m)
Gross Margin = 77.99% ((Revenue TTM 242.3m - Cost of Revenue TTM 53.3m) / Revenue TTM)
Gross Margin QoQ = 84.90% (prev 76.73%)
Tobins Q-Ratio = 0.32 (Enterprise Value 242.4m / Total Assets 755.5m)
Interest Expense / Debt = 1.71% (Interest Expense 3.00m / Debt 175.4m)
Taxrate = 21.0% (US default 21%)
NOPAT = -213.9m (EBIT -270.7m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 1.52 (Total Current Assets 233.5m / Total Current Liabilities 153.9m)
Debt / Equity = 0.62 (Debt 175.4m / totalStockholderEquity, last quarter 284.9m)
Debt / EBITDA = -0.31 (negative EBITDA) (Net Debt 67.1m / EBITDA -215.4m)
Debt / FCF = 1.46 (Net Debt 67.1m / FCF TTM 46.0m)
Total Stockholder Equity = 338.9m (last 4 quarters mean from totalStockholderEquity)
RoA = -19.48% (Net Income -188.7m / Total Assets 755.5m)
RoE = -55.68% (Net Income TTM -188.7m / Total Stockholder Equity 338.9m)
RoCE = -54.46% (EBIT -270.7m / Capital Employed (Equity 338.9m + L.T.Debt 158.2m))
RoIC = -40.63% (negative operating profit) (NOPAT -213.9m / Invested Capital 526.5m)
WACC = 5.84% (E(252.9m)/V(428.3m) * Re(8.95%) + D(175.4m)/V(428.3m) * Rd(1.71%) * (1-Tc(0.21)))
Discount Rate = 8.95% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: -100.0 | Cagr: -5.58%
[DCF Debug] Terminal Value 88.42% ; FCFF base≈48.7m ; Y1≈60.0m ; Y5≈101.8m
Fair Price DCF = 28.04 (EV 2.96b - Net Debt 67.1m = Equity 2.90b / Shares 103.3m; r=5.90% [WACC]; 5y FCF grow 24.78% → 2.90% )
EPS Correlation: -13.47 | EPS CAGR: -42.84% | SUE: -4.0 | # QB: 0
Revenue Correlation: 64.77 | Revenue CAGR: 7.17% | SUE: 0.49 | # QB: 0
EPS next Quarter (2026-03-31): EPS=0.06 | Chg30d=-0.001 | Revisions Net=+0 | Analysts=9
EPS next Year (2026-12-31): EPS=0.26 | Chg30d=-0.005 | Revisions Net=+0 | Growth EPS=+4.5% | Growth Revenue=-2.5%