A Business at a Glance
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Our Mission Our mission is to transform data, analytics, and expertise into healthcare commercial intelligence. We help clients uncover the right markets, opportunities, and people, so they can shape tomorrow’s healthcare industry. Our software-as-a-service (“SaaS”) platform creates new paths to commercial success in the healthcare market, so companies can identify where to go next. Definitive Healthcare is a leading provider of healthcare data and analytics. We provide accurate, comprehensive information on healthcare providers and their activities, enabling customers to make informed decisions across product development, go-to-market planning, and sales and marketing execution. We also offer claims and consumer analytics built from modeled data on millions of unique consumers to help healthcare organizations target, message, and engage specific healthcare audiences.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 242M | 242M | 252M | 251M | 223M | 166M |
| Net Income | -139M | -139M | -413M | -202M | -7.2M | -18M |
| EPS | $-1.30 | $-1.30 | $-3.54 | $-1.79 | $-0.07 | $-0.19 |
| Free Cash Flow | 37M | 37M | 46M | 38M | 27M | 18M |
| ROIC | -44.7% | -20.3% | -49.4% | -14.0% | -0.4% | -1.0% |
| Gross Margin | 75.9% | 75.9% | 78.3% | 81.1% | 24.6% | 75.5% |
| Debt/Equity | 0.48 | 0.48 | 0.44 | 0.23 | 0.19 | 0.19 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | -224M | -224M | -711M | -330M | -44M | -27M |
| Operating Margin | -92.9% | -92.9% | -281.8% | -131.2% | -19.8% | -16.4% |
| ROE | -36.7% | -28.2% | -68.0% | -16.9% | -0.5% | -1.2% |
| Shares Outstanding | 107M | 107M | 117M | 113M | 103M | 94M |
| Metric | 2020 | 2021 | 2022 | 2023 | |||
|---|---|---|---|---|---|---|---|
| Income Statement | |||||||
| Revenue | 118M | 166M | 223M | 251M | 252M | 242M | 242M |
| Gross Margin | 74.2% | 75.5% | 24.6% | 81.1% | 78.3% | 75.9% | 75.9% |
| R&D | 11M | 19M | 35M | 42M | 37M | 35M | 35M |
| SG&A | 13M | 33M | 52M | 59M | 49M | 52M | 52M |
| EBIT | -14M | -27M | -44M | -330M | -711M | -224M | -224M |
| Op. Margin | -12.2% | -16.4% | -19.8% | -131.2% | -281.8% | -92.9% | -92.9% |
| Net Income | -51M | -18M | -7.2M | -202M | -413M | -139M | -139M |
| Net Margin | -43.2% | -10.7% | -3.2% | -80.5% | -163.8% | -57.5% | -57.5% |
| Non-Recurring | 0 | 0 | 0 | 292M | 697M | 204M | 204M |
| Returns on Capital | |||||||
| ROIC | -0.9% | -1.0% | -0.4% | -14.0% | -49.4% | -20.3% | -44.7% |
| ROE | -4.3% | -1.2% | -0.5% | -16.9% | -68.0% | -28.2% | -36.7% |
| ROA | -2.9% | -0.8% | -0.3% | -11.1% | -37.9% | -15.2% | -18.9% |
| Cash Flow | |||||||
| Op. Cash Flow | 23M | 25M | 36M | 41M | 58M | 54M | 54M |
| Free Cash Flow | 22M | 18M | 27M | 38M | 46M | 37M | 37M |
| Owner Earnings | 20M | 14M | -3.0M | -9.5M | 18M | 21M | 21M |
| CapEx | 1.4M | 6.7M | 8.3M | 3.0M | 12M | 17M | 17M |
| Maint. CapEx | 1.2M | 1.8M | 2.2M | 2.0M | 2.2M | 3.3M | 3.3M |
| Growth CapEx | 243K | 5.0M | 6.1M | 1.0M | 10M | 13M | 13M |
| D&A | 1.2M | 1.8M | 2.2M | 2.0M | 2.2M | 3.3M | 3.3M |
| CapEx/OCF | N/A | 26.7% | 23.4% | 7.2% | 21.2% | 31.1% | 31.1% |
| Capital Allocation | |||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 232M | 0 | 0 | 22M | 49M | 49M |
| Buyback Yield | N/A | 9.1% | N/A | N/A | 4.5% | 17.6% | 45.8% |
| Stock-Based Comp | 1.7M | 10.0M | 36M | 49M | 38M | 29M | 29M |
| Debt Repayment | 225K | 3.5M | 0 | 8.6M | 14M | 253M | 253M |
| Balance Sheet | |||||||
| Net Debt | 417M | -110M | -47M | -26M | -23M | 527K | 18M |
| Cash & Equiv. | 25M | 387M | 147M | 131M | 105M | 164M | 164M |
| Long-Term Debt | 457M | 264M | 256M | 243M | 229M | 156M | 156M |
| Debt/Equity | 0.39 | 0.19 | 0.19 | 0.23 | 0.44 | 0.48 | 0.48 |
| Interest Coverage | -0.4 | -1.1 | -3.9 | -21.7 | -47.9 | -19.9 | -19.9 |
| Equity | 1.2B | 1.5B | 1.5B | 1.2B | 607M | 379M | 379M |
| Total Assets | 1.7B | 2.1B | 2.1B | 1.8B | 1.1B | 735M | 735M |
| Total Liabilities | 550M | 618M | 641M | 627M | 482M | 357M | 357M |
| Intangibles | 410M | 352M | 351M | 323M | 298M | 247M | 247M |
| Retained Earnings | N/A | -18M | -25M | -227M | -641M | -780M | -780M |
| Working Capital | N/A | 321M | 273M | 223M | 209M | 101M | 101M |
| Current Assets | N/A | 444M | 414M | 394M | 370M | 258M | 258M |
| Current Liabilities | 89M | 123M | 141M | 171M | 161M | 157M | 157M |
| Per Share Data | |||||||
| EPS | -0.53 | -0.19 | -0.07 | -1.79 | -3.54 | -1.30 | -1.30 |
| Owner EPS | 0.21 | 0.14 | -0.03 | -0.08 | 0.15 | 0.20 | 0.20 |
| Book Value | 12.28 | 15.97 | 14.36 | 10.61 | 5.20 | 3.55 | 3.55 |
| Cash Flow/Share | 0.24 | 0.27 | 0.34 | 0.36 | 0.50 | 0.50 | -1.27 |
| Dividends/Share | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 97.4M | 93.9M | 103.2M | 113.1M | 116.7M | 106.9M | 106.9M |
| Valuation | |||||||
| P/E Ratio | N/A | N/A | N/A | N/A | N/A | N/A | -0.8 |
| P/FCF | N/A | 138.5 | 41.5 | 30.2 | 10.8 | 7.6 | 2.9 |
| EV/EBIT | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Price/Book | N/A | 1.7 | 0.8 | 1.0 | 0.8 | 0.7 | 0.3 |
| Price/Sales | N/A | 20.8 | 9.2 | 4.5 | 2.8 | 1.5 | 0.4 |
| FCF Yield | N/A | 0.7% | 2.4% | 3.3% | 9.3% | 13.2% | 34.3% |
| Market Cap | N/A | 2.6B | 1.1B | 1.2B | 494M | 281M | 108M |
| Avg. Price | N/A | 36.84 | 19.89 | 10.00 | 6.05 | 3.50 | 1.01 |
| Year-End Price | N/A | 27.27 | 10.97 | 10.21 | 4.23 | 2.63 | 1.01 |
Definitive Healthcare Corp. passes 4 of 9 quality checks, suggesting mixed fundamentals.
On a free-cash-flow basis, the stock trades at 2.8x vs a median of 20.5x. The company's 5-year average gross margin is 67.1%. Total shareholder yield (buybacks) is 45.8%. At current prices, the estimated annualized return to fair value is +9.6%.
Definitive Healthcare Corp. (DH) has a 5-year average return on invested capital (ROIC) of -17.0%. This is below average and may indicate limited pricing power.
Definitive Healthcare Corp. (DH) has a market capitalization of $108M. It is classified as a small-cap stock.
Definitive Healthcare Corp. (DH) does not currently pay a regular dividend. However, the company returns capital to shareholders through share buybacks, with a buyback yield of 45.81%.
Definitive Healthcare Corp. (DH) operates in the Services-Prepackaged Software industry, within the Technology sector.
Definitive Healthcare Corp. (DH) reported annual revenue of $242 million in its most recent fiscal year, based on SEC EDGAR filings.
Definitive Healthcare Corp. (DH) has a net profit margin of -57.5%. The company is currently unprofitable.
Definitive Healthcare Corp. (DH) generated $37 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
Definitive Healthcare Corp. (DH) has a debt-to-equity ratio of 0.48. This indicates a conservatively financed balance sheet.
Definitive Healthcare Corp. (DH) reported earnings per share (EPS) of $-1.30 in its most recent fiscal year.
Definitive Healthcare Corp. (DH) has a return on equity (ROE) of -28.2%. A negative ROE may indicate losses or negative equity.
Definitive Healthcare Corp. (DH) has a 5-year average gross margin of 67.1%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 6 years of financial data for Definitive Healthcare Corp. (DH), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Definitive Healthcare Corp. (DH) has a book value per share of $3.55, based on its most recent annual SEC filing.