Certara vs HealthStream
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The short version
- Certara is the larger business, with $419M of revenue in fiscal 2025 against $304M for HealthStream.
- Certara grew revenue faster (8.8%, against 4.3%).
- HealthStream kept more of each dollar of sales as operating profit (6.7% operating margin, against 5.0%).
- Certara turned more of its sales into free cash flow (22.6% FCF margin, against 19.6%).
| Latest fiscal year | CERT · FY25 | HSTM · FY25 |
|---|---|---|
| Size | ||
| Market cap | $1.6B | $1.0B |
| Revenue | $419M | $304M |
| Free cash flow | $94.6M | $59.6M |
| Net income | −$1.6M | $18.3M |
| Growth | ||
| Revenue growth | 8.8% | 4.3% |
| 5-year growth | 11.5% | 4.4% |
| Share count change | 0.0% | −1.3% |
| Profitability | ||
| Gross margin | — | — |
| Operating margin | 5.0% | 6.7% |
| Net margin | −0.4% | 6.0% |
| FCF margin | 22.6% | 19.6% |
| Return on capital | 0.9% | — |
| Return on equity | −0.2% | 5.1% |
| Balance sheet | ||
| Net debt | $104M | — |
| Net debt / EBITDA | 1.1x | — |
| Dividends and buybacks | $42.6M | $33.7M |
| Valuation & quality | ||
| P/E | — | 48.8x |
| Piotroski F-score | 5 | — |
Revenue
FY16
CERT —
HSTM $192M
FY17
CERT —
HSTM $215M
FY18
CERT —
HSTM $232M
FY19
CERT $209M
HSTM $254M
FY20
CERT $244M
HSTM $245M
FY21
CERT $286M
HSTM $257M
FY22
CERT $336M
HSTM $267M
FY23
CERT $354M
HSTM $279M
FY24
CERT $385M
HSTM $292M
FY25
CERT $419M
HSTM $304M
CERT
HSTM
Operating margin
FY16
CERT —
HSTM 3.7%
FY17
CERT —
HSTM 4.4%
FY18
CERT —
HSTM 6.7%
FY19
CERT 9.4%
HSTM 5.8%
FY20
CERT −10.0%
HSTM 6.5%
FY21
CERT 4.8%
HSTM 3.1%
FY22
CERT 9.7%
HSTM 4.7%
FY23
CERT −11.5%
HSTM 5.7%
FY24
CERT −0.5%
HSTM 7.3%
FY25
CERT 5.0%
HSTM 6.7%
CERT
HSTM
Free cash flow
FY16
CERT —
HSTM $19.4M
FY17
CERT —
HSTM $41.2M
FY18
CERT —
HSTM $36.1M
FY19
CERT $35.9M
HSTM $43.7M
FY20
CERT $44.0M
HSTM $33.9M
FY21
CERT $59.2M
HSTM $39.0M
FY22
CERT $91.1M
HSTM $49.4M
FY23
CERT $81.0M
HSTM $61.8M
FY24
CERT $78.8M
HSTM $56.3M
FY25
CERT $94.6M
HSTM $59.6M
CERT
HSTM
Return on capital
FY16
CERT —
HSTM —
FY17
CERT —
HSTM —
FY18
CERT —
HSTM —
FY19
CERT —
HSTM —
FY20
CERT —
HSTM —
FY21
CERT 1.1%
HSTM —
FY22
CERT 2.2%
HSTM —
FY23
CERT −2.9%
HSTM —
FY24
CERT −0.1%
HSTM —
FY25
CERT 0.9%
HSTM —
CERT
HSTM
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.