HealthStream, Inc.

HSTMNASDAQHealthcare● Active

$25.58

+$0.34(+1.36%)

Market Cap$747435834

P/E Ratio—

52W High$29.63

52W Low$19.5

Avg Volume274K

Open$25.32

Beta0.47

Free Cash Flow Financials Revenue

HealthStream, Inc. (HSTM) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

HSTM · free cash flow · updated Jun 8, 2026

Core FCF metrics

HSTM · FCF · TTM · margin & CAGR

Free cash flow was $59.6M for FY2025 (fiscal year ending 2025-12-31), up 102.0% year-over-year The FCF margin was 19.6%. Five-year CAGR stands at +12.0%.

FY2025 Free Cash Flow$59.6M▲ +102.0% YoY

Trailing 12M (TTM)$60.0Mtrailing 4 quarters sum

FCF Margin19.6%$59.6M ÷ revenue

3-Year CAGR+6.5%FY2022 → FY2025

5-Year CAGR+12.0%FY2020 → FY2025

FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0

Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 8, 2026

Annual free cash flow history

FCF ($B, upper) · YoY Growth % (lower)

Positive FCFNegative FCF

Free Cash Flow

YoY Growth %

Annual free cash flow data

HSTM · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2025Latest$63.3M(4M)$59.6M▲ +102.0%19.6%

FY2024$57.7M(28M)$29.5M▼ 52.2%10.1%

FY2023$64.0M(2M)$61.8M▲ +25.0%22.1%

FY2022$51.2M(2M)$49.4M▲ +26.8%18.5%

FY2021$42.4M(3M)$39.0M▲ +15.0%15.2%

FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP

FCF valuation metrics

HSTM · P/FCF · FCF yield · FCF per share

HealthStream, Inc. (HSTM) trades at a FCF yield of 8.03% and a price-to-free-cash-flow ratio of 12.8x. FCF per share stands at $2.00, calculated using trailing twelve-month FCF divided by basic weighted-average shares outstanding.

FCF Yield (TTM)

8.03%

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

$2.00

TTM FCF ÷ Shares Outstanding

Price / FCF

x12.8

Share Price ÷ FCF per Share

EV / FCF (TTM)

x11.9

Enterprise Value basis

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2025 · 2025-12-31

Cash flow statement summary

HSTM · cash flow statement · operating / investing / financing

For FY2025, HealthStream, Inc. generated $63.3M in operating cash flow and spent 4M in capital expenditures, yielding $59.6M in free cash flow.

Operating Activities

+$63.3M

Cash from core business operations

2025-12-31

Investing Activities

−$50.4M

CapEx, acquisitions & investments

2025-12-31

Financing Activities

−$36.3M

Buybacks, dividends & debt

2025-12-31

FCF FormulaOperating CF ($63.3M) − |CapEx| (4M) = FCF ($59.6M)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →

Free cash flow vs peers (Healthcare)

HSTM vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

HealthStream, Inc.YOU

HSTM

$59.6M+102.0%19.6%

UnitedHealth Group Incorporated

UNH

$16.07B-22.4%3.6%

82%

Eli Lilly and Company

LLY

$8.97B+2065.6%13.8%

46%

Healthcare · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

HealthStream, Inc. (HSTM) reported free cash flow of $59.6M for FY2025 (fiscal year ending 2025-12-31), up 102.0% year-over-year. The FCF margin was 19.6%.

Based on available data, HealthStream, Inc. has maintained positive free cash flow for at least 15 fiscal year(s). FCF peaked at $61.8M in FY2023. The 5-year CAGR stands at +12.0%.

HealthStream, Inc.'s FCF yield is 8.03% and price-to-FCF ratio is 12.8x for FY2025, based on the latest available data.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.

Revenue Financial statements Net income Earnings Forecast Price history Market cap Cash on hand P/E ratio

Frequently asked questions

HSTM free cash flow · 8 questions

HealthStream, Inc. free cash flow was $59.6M for FY2025, up 102.0% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at $60.0M.

HSTM free cash flowHSTM FCFHSTM FCF 2025HSTM free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · HealthStream, Inc. · HealthStream, Inc. SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 8, 2026