(HTFL) Heartflow, Common Stock - Overview
Sector: Healthcare | Industry: Health Information Services | Exchange: NASDAQ (USA) | Market Cap: 2.449m USD | Total Return: 7.8% in 12m
Avg Turnover: 31.6M
Rev. Trend: 100.0%
Warnings
Negative Equity with losses - insolvent profile
Share dilution 477.1% YoY
Interest Coverage Ratio -9.6 is critical
Altman Z'' -15.00 < 1.0 - financial distress zone
Choppy
Tailwinds
No distinct edge detected
HeartFlow, Inc. (HTFL) is a medical technology company specializing in non-invasive diagnostic tools for coronary artery disease. The company utilizes a proprietary platform that combines artificial intelligence with computational fluid dynamics to generate patient-specific 3D heart models from coronary computed tomography angiography (CCTA) data. Its primary product suite includes the FFRCT Analysis for blood flow calculation, RoadMap Analysis for anatomical visualization, and Plaque Analysis for characterizing arterial blockages.
The business model operates within the high-growth software-as-a-service (SaaS) segment of the healthcare sector, where clinical outcomes are driven by algorithmic precision rather than invasive physical procedures. By providing data on stenosis and plaque composition, the platform aims to reduce the necessity for diagnostic cardiac catheterizations, which are more costly and carry higher patient risk. Investors can find additional data and comparative metrics for this sector on ValueRay.
Headquartered in Mountain View, California, the company transitioned from its original name, Cardiovascular Simulation, Inc., in 2009. HeartFlow currently serves a global market, positioning its technology as a replacement for traditional stress testing and other legacy non-invasive imaging methods.
- Medicare reimbursement rates for FFRCT analysis dictate domestic revenue growth
- CMS coverage expansion for coronary plaque analysis drives platform adoption
- AI-driven diagnostic accuracy reduces hospital costs and invasive procedure volume
- Shift toward coronary CTA imaging increases demand for non-invasive heart modeling
- Regulatory approval timelines for new clinical software features impact market share
| Net Income: -111.8m TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.22 > 0.02 and ΔFCF/TA 12.24 > 1.0 |
| NWC/Revenue: 90.80% < 20% (prev 74.34%; Δ 16.46% < -1%) |
| CFO/TA -0.21 > 3% & CFO -71.0m > Net Income -111.8m |
| Net Debt/EBITDA: error (EBITDA <= 0) |
| Current Ratio: 5.57 > 1.5 & < 3 |
| Outstanding Shares: last quarter (368.5m) vs 12m ago 477.1% < -2% |
| Gross Margin: 78.06% > 18% (prev 0.76%; Δ 7.73k% > 0.5%) |
| Asset Turnover: 72.44% > 50% (prev 73.83%; Δ -1.39% > 0%) |
| Interest Coverage Ratio: -9.57 > 6 (EBITDA TTM -87.6m / Interest Expense TTM 10.1m) |
| A: 0.51 (Total Current Assets 211.8m - Total Current Liabilities 38.0m) / Total Assets 344.0m |
| B: -3.24 (Retained Earnings -1.12b / Total Assets 344.0m) |
| C: -0.37 (EBIT TTM -96.5m / Avg Total Assets 264.2m) |
| D: -19.14 (Book Value of Equity -1.12b / Total Liabilities 58.3m) |
| Altman-Z'' = -29.80 = D |
| DSRI: 0.82 (Receivables 35.5m/30.8m, Revenue 191.4m/136.2m) |
| GMI: 0.97 (GM 78.06% / 75.62%) |
| AQI: 2.89 (AQ_t 0.31 / AQ_t-1 0.11) |
| SGI: 1.41 (Revenue 191.4m / 136.2m) |
| TATA: -0.12 (NI -111.8m - CFO -71.0m) / TA 344.0m) |
| Beneish M = -1.91 (Cap -4..+1) = B |
As of June 01, 2026, the stock is trading at USD 30.98 with a total of 1,605,736 shares traded.
Over the past week, the price has changed by +6.10%,
over one month by +4.10%,
over three months by +28.81% and
over the past year by +7.76%.
Heartflow, Common Stock has no consensus analysts rating.
P/S = 12.7954
P/B = 8.5722
Revenue TTM = 191.4m USD
EBIT TTM = -96.5m USD
EBITDA TTM = -87.6m USD
Long Term Debt = 20.0m USD (estimated: total debt 26.3m - short term 6.38m)
Short Term Debt = 6.38m USD (from shortTermDebt, last quarter)
Debt = 26.3m USD (from shortLongTermDebtTotal, last quarter) (leases 26.3m already included)
Net Debt = -132.0m USD (calculated: Debt 26.3m - CCE 158.3m)
Enterprise Value = 2.32b USD (2.45b + Debt 26.3m - CCE 158.3m)
Interest Coverage Ratio = -9.57 (Ebit TTM -96.5m / Interest Expense TTM 10.1m)
EV/FCF = -30.18x (Enterprise Value 2.32b / FCF TTM -76.8m)
FCF Yield = -3.31% (FCF TTM -76.8m / Enterprise Value 2.32b)
FCF Margin = -40.11% (FCF TTM -76.8m / Revenue TTM 191.4m)
Net Margin = -58.42% (Net Income TTM -111.8m / Revenue TTM 191.4m)
Gross Margin = 78.06% ((Revenue TTM 191.4m - Cost of Revenue TTM 42.0m) / Revenue TTM)
Gross Margin QoQ = 80.18% (prev 79.51%)
Tobins Q-Ratio = 6.74 (Enterprise Value 2.32b / Total Assets 344.0m)
Interest Expense / Debt = 38.27% (Interest Expense 10.1m / Debt 26.3m)
Taxrate = 21.0% (US default 21%)
NOPAT = -76.2m (EBIT -96.5m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 5.57 (Total Current Assets 211.8m / Total Current Liabilities 38.0m)
Debt / Equity = 0.09 (Debt 26.3m / totalStockholderEquity, last quarter 285.7m)
Debt / EBITDA = 1.51 (negative EBITDA) (Net Debt -132.0m / EBITDA -87.6m)
Debt / FCF = 1.72 (negative FCF - burning cash) (Net Debt -132.0m / FCF TTM -76.8m)
Total Stockholder Equity = -13.5m (last 4 quarters mean from totalStockholderEquity)
RoA = -42.32% (Net Income -111.8m / Total Assets 344.0m)
RoE = -10.15% (Net Income TTM -111.8m / Total Stockholder Equity 1.10b)
RoCE = -8.60% (EBIT -96.5m / Capital Employed (Equity 1.10b + L.T.Debt 20.0m))
RoIC = -25.59% (negative operating profit) (NOPAT -76.2m / Invested Capital 297.8m)
WACC = 17.72% (E(2.45b)/V(2.48b) * Re(17.59%) + D(26.3m)/V(2.48b) * Rd(38.27%) * (1-Tc(0.21)))
Discount Rate = 17.59% (= CAPM, Blume Beta Adj.) -> capped to 13.17%
Shares (quarterly) Correlation: 69.29 | Cagr: 140.2%
[DCF] Fair Price = unknown (Cash Flow -76.8m)
EPS Correlation: N/A | EPS CAGR: N/A | SUE: N/A | # QB: 0
Revenue Correlation: 99.97 | Revenue CAGR: 42.10% | SUE: N/A | # QB: 0
EPS current Quarter (2026-06-30): EPS=-0.13 | Chg30d=+0.37% | Revisions=+25% | Analysts=7
EPS next Quarter (2026-09-30): EPS=-0.11 | Chg30d=-2.70% | Revisions=-14% | Analysts=7
EPS current Year (2026-12-31): EPS=-0.49 | Chg30d=+4.85% | Revisions=+43% | GrowthEPS=+69.7% | GrowthRev=+30.6%
EPS next Year (2027-12-31): EPS=-0.26 | Chg30d=+11.93% | Revisions=-14% | GrowthEPS=+46.1% | GrowthRev=+23.2%
[Analyst] Revisions Ratio: +43%