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Certara

CERT Nasdaq Health Care Technology Financials FY2019–FY2025

Certara's revenue rose 8.8% to $419 million in fiscal 2025. Its operating margin was 5.0%, up from −0.5% a year earlier. Free cash flow was $95 million, up 19.9%. It paid out $43 million in dividends and buybacks, 45% of free cash flow.

Last close · Oct 23, 2026

$10.33

2.4%
Value it Compare
Revenue Total sales reported in the income statement.
$419M
8.8% vs prior year
Operating margin Operating income as a share of revenue.
5.0%
5.5 pts
Net income Profit after all expenses, interest and tax.
−$1.6M
Free cash flow Cash from operations minus capital spending.
$94.6M
19.9%
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
0.9%
1.0 pts
Market cap Last close times the latest diluted share count, so it is approximate.
$1.6B
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
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What Certara does

No business description yet.

Legal name
Certara, Inc.
Fiscal year ends
December 31, 2025
Latest annual report
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Accession · CIK
0001827090-26-000011
0001827090

Revenue and margins

Certara had $419M of revenue in fiscal 2025, up 8.8% on the year before.

Revenue
Revenue
Margins, % of revenue
Gross Operating Net FCF
Margins, % of revenue
Gross Operating Net FCF

Net income and earnings per share

Loss periods are shown in red.

Net income
Net income
Diluted EPS
Diluted EPS

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)
Return on capital Return on equity Return on assets

Cash flow

Free cash flow was $94.6M in fiscal 2025, 22.6% of revenue. Cash from operations minus capital spending.

Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations Capital spending
Cash from operations vs capital spending
Cash from operations Capital spending

Dividends, buybacks and share count

Certara returned $42.6M to shareholders in fiscal 2025, 45% of free cash flow. The diluted share count rose 0.0%.

Dividends and buybacks
Dividends Buybacks
Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Value Certara yourself

Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.

Discounted cash flow

Value per share

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Adds net cash of −$104M and divides by 160.4M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.

Balance sheet

Cash, debt and the ratios that show how comfortably Certara can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY21FY22FY23FY24FY25
Cash and short-term investments $186M$237M$235M$179M$189M
Debt incl. finance leases $295M$293M$291M$295M$293M
Net debt / EBITDA 7.0x1.7x3.7x1.8x1.1x
Debt / equity 0.3x0.3x0.3x0.3x0.3x
Interest coverage 0.8x1.8x−1.8x−0.1x1.1x
Current ratio 3.0x3.3x2.6x2.1x2.1x
Quick ratio 3.0x3.3x2.6x2.1x2.1x
Total assets $1.5B$1.6B$1.6B$1.6B$1.6B
Total liabilities $470M$493M$516M$516M$494M
Shareholders' equity $1.0B$1.1B$1.0B$1.1B$1.1B
Net debt (− = net cash) $109M$56.4M$56.2M$116M$104M

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$0.2M

1 insider

Sold, 12 months

$0.0M

0 insiders

Of sales under plans

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$0.0M

DateInsiderTradeSharesPriceValueFiling
Nov 11, 2025 William F FeeheryChief Executive Officer, Director Bought 24,096 $8.30 $0.2M Form 4

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

TestFY23FY24FY25
Net income is positive ✕ ✕ ✕
Cash from operations is positive ✓ ✓ ✓
Return on assets rose ✕ ✓ ✓
Cash from operations exceeds net income ✓ ✓ ✓
Debt fell relative to assets ✓ ✕ ✓
Current ratio rose ✕ ✕ ✕
Share count didn't rise ✓ ✕ ✕
Gross margin rose ✕ — —
Revenue rose relative to assets ✓ ✓ ✓
F-score 5 / 94 / 85 / 8
Accruals ratio −8.8%−5.9%−6.3%
Altman Z'' 2.592.572.76

Similar companies

Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.

CompanyMarket capGrowthOp. marginFCF marginROICP/EF-score
Certara CERT $1.6B 8.8% 5.0% 22.6% 0.9% — 5
HealthStream HSTM $1.0B 4.3% 6.7% 19.6% — 48.8x — Compare →
Doximity DOCS $6.4B 13.1% 33.3% 50.6% 91.3% 39.3x 4 Compare →
Veeva Systems VEEV $53.3B 16.3% 28.7% 43.4% — 52.9x 6 Compare →
Solventum SOLV $14.8B 0.9% 26.2% −0.1% 20.4% 10.5x 5 Compare →

7 years of figures

US$ millions unless stated. Hover a ratio's name for its definition.

Download CSV
Fiscal yearFY19FY20FY21FY22FY23FY24FY25
Income statement
Revenue $209M $244M $286M $336M $354M $385M $419M
Gross profit $129M $143M $175M $203M $213M — —
Research and development $11.6M $19.6M $20.4M $28.2M $34.2M $37.1M $41.0M
Operating income $19.6M −$24.4M $13.6M $32.5M −$40.8M −$1.7M $21.0M
Interest expense $28.0M $25.3M $16.8M $17.8M $22.9M $21.5M $19.7M
Pretax income −$9.2M −$50.2M −$3.4M $18.8M −$55.1M −$17.2M $7.6M
Income tax −$0.2M −$0.8M $9.9M $4.0M $0.2M −$5.1M $9.2M
Net income −$8.9M −$49.4M −$13.3M $14.7M −$55.4M −$12.1M −$1.6M
Diluted EPS −$0.07 −$0.37 −$0.09 $0.09 −$0.35 −$0.08 −$0.01
Diluted shares 0.13B 0.13B 0.15B 0.16B 0.16B 0.16B 0.16B
Cash flow
Cash from operations $38.0M $44.8M $60.4M $92.5M $82.8M $80.5M $96.3M
Capital expenditure $2.1M $0.9M $1.1M $1.4M $1.8M $1.6M $1.8M
Free cash flow $35.9M $44.0M $59.2M $91.1M $81.0M $78.8M $94.6M
Depreciation and amortization $2.6M $2.4M $2.1M $1.7M $56.1M $68.0M $75.2M
Stock-based compensation $1.7M $64.5M $29.5M $30.3M $28.3M $34.8M $33.1M
Acquisitions $0.0M $0.7M $261M $15.3M $64.2M $91.3M $0.0M
Share buybacks $0.7M $1.1M $0.0M $0.0M $0.0M $0.0M $42.6M
Dividends paid $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Dividends and buybacks $0.7M $1.1M $0.0M $0.0M $0.0M $0.0M $42.6M
Balance sheet
Cash and short-term investments $29.3M $271M $186M $237M $235M $179M $189M
Total debt — $299M $295M $293M $291M $295M $293M
Finance lease liabilities $0.0M $0.6M $0.3M $0.0M $0.0M $0.0M $0.0M
Current assets — $347M $275M $342M $340M $311M $315M
Current liabilities — $75.3M $92.2M $103M $130M $146M $153M
Inventory $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Property and equipment, net — $3.9M $2.9M $2.4M $2.7M $2.2M $1.9M
Total assets — $1.3B $1.5B $1.6B $1.6B $1.6B $1.6B
Total liabilities — $447M $470M $493M $516M $516M $494M
Shareholders' equity $492M $822M $1.0B $1.1B $1.0B $1.1B $1.1B
Margins
Gross margin 61.7% 58.6% 61.0% 60.5% 60.2% — —
Operating margin 9.4% −10.0% 4.8% 9.7% −11.5% −0.5% 5.0%
EBITDA margin 10.7% −9.0% 5.5% 10.2% 4.3% 17.2% 23.0%
Net margin −4.3% −20.3% −4.6% 4.4% −15.6% −3.1% −0.4%
FCF margin 17.2% 18.1% 20.7% 27.2% 22.9% 20.5% 22.6%
Returns
Return on capital — — 1.1% 2.2% −2.9% −0.1% 0.9%
Return on capital employed — — 1.0% 2.3% −2.8% −0.1% 1.5%
Return on equity — — −1.4% 1.4% −5.2% −1.1% −0.2%
Return on assets — — −1.0% 1.0% −3.5% −0.8% −0.1%
Growth
Revenue growth — 16.8% 17.5% 17.3% 5.6% 8.7% 8.8%
Net income growth — — — — −475.8% — —
EPS growth — — — — −488.9% — —
FCF growth — 22.4% 34.8% 53.8% −11.1% −2.6% 19.9%
Share count change — 0.6% 12.5% 6.4% −0.3% 0.9% 0.0%
Financial health
Net debt / EBITDA — — 7.0x 1.7x 3.7x 1.8x 1.1x
Debt / equity — 0.4x 0.3x 0.3x 0.3x 0.3x 0.3x
Interest coverage 0.7x −1.0x 0.8x 1.8x −1.8x −0.1x 1.1x
Current ratio — 4.6x 3.0x 3.3x 2.6x 2.1x 2.1x
Quick ratio — 4.6x 3.0x 3.3x 2.6x 2.1x 2.1x
Capital allocation
Capex / revenue 1.0% 0.4% 0.4% 0.4% 0.5% 0.4% 0.4%
Stock comp / revenue 0.8% 26.5% 10.3% 9.0% 8.0% 9.0% 7.9%
Payouts / FCF 2.0% 2.5% 0.0% 0.0% 0.0% 0.0% 45.1%
Quality scores
Piotroski F-score — — — 6.0 5.0 4.0 5.0
Altman Z'' — 3.0 3.0 3.3 2.6 2.6 2.8
Accruals ratio — — −5.3% −5.1% −8.8% −5.9% −6.3%

Source: SEC EDGAR XBRL filings (CIK 0001827090). Data updated October 22, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.

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