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Heartflow, Inc. (HTFL) fair value: what the stock is really worth

As of Nov 9, 2026: fair value (intrinsic value) of Heartflow, Inc. stock $34.82, price $56.66, that is 38.5% below the price, quality 46 out of 100. Rating: strongly overvalued. The value is an estimate: none of our valuation models currently carries, it draws on revenue and assets compared with similar companies. Updated daily.

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Healthcare US

HI Heartflow, Inc. logo Thin data Nov 10, 2026

Heartflow, Inc.

HTFL · US
Very expensive, weak quality

Our calculation puts a fair price 39% below what the stock costs today.

Low debt
Revenue last quarter +48% vs. a year ago.
Quality 46/100
Expensive Growth (revenue YoY +39.9 %/yr in USD)
Insiders sold $19.3M (6M)
Fair value $34.82 · Strongly overvalued
Loss-making · -55.8% net margin (TTM)
Negative free cash flow
Trails peers (1/10)
Narrow moat 12/100 · thin data
Thin data
Estimate
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26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

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Price vs Fair Value

$60.53 $19.00 Fair Value $34.82 Aug 2025 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 10, 2026.

How to read this chart

15‑month range $19.00 – $60.53 · fair‑value band $26.12 – $43.53 · the $56.66 price screens above the $34.82 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 10, 2026.

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Company profile

HeartFlow, Inc., a medical technology company, provides non-invasive solutions for diagnosing and managing coronary artery diseases the United States and worldwide.

Show moreShow less

Its HeartFlow Platform uses AI and computational fluid dynamics to creates a personalized 3D model of a patient's heart from a single coronary computed tomography angiography, a specialized type of scan that provides detailed images of the heart's arteries.

The company provides Heartflow RoadMap Analysis that offers an intuitive anatomic visualization of the coronary arteries; Heartflow FFRCT Analysis, which calculates blood flow and pinpoints clinically; and Heartflow Plaque Analysis that provides a comprehensive assessment of coronary plaque, enabling optimized medical treatment strategies.

Its platform provides insights on blood flow, stenosis, and plaque volume and composition by overcoming the limitations of traditional non-invasive imaging tests. HeartFlow, Inc. was formerly known as Cardiovascular Simulation, Inc. and changed its name to HeartFlow, Inc. in May 2009.

The company was incorporated in 2007 and is headquartered in San Francisco, California.

Stock analysis

Heartflow, Inc. (HTFL) currently trades at $56.66, while our estimate is $34.82, 39% below the price, so the stock looks overvalued today.

Show more

Valuation

None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Scenario range: $26.12 (bear) to $43.53 (bull), the price of $56.66 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 46/100 (below-average quality), in the Healthcare sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

Heartflow, Inc. Common Stock reported revenue of $176M in FY2025 versus $87.2M in FY2023, a compound +42.1%/yr. Reported net income was −$117M in FY2025.

Key figures

Market cap $4.9B Mid · P/S ratio 21.5 · EPS (TTM) $−0.2400 · Net margin −66.3% · Return on equity −154% · Return on assets (EBIT) −36.3% (3-year average) · Operating margin −27.9% · Revenue (TTM) $212M.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 12 out of 100 (low confidence).

What moves the price

The share trades about 6% below its 52-week high and 177% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Healthcare peers we cover trades at −38% fair-value upside, at −39%, HTFL screens richer than that median.

Fair Value

Bear $26.12 Fair Value $34.82 Bull $43.53
Price $56.66 · Downside -38.5%
Estimate. None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Quality Score breakdown

Overall quality 46/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 20
How much profit the company makes from its sales and capital
Quality Growth 62
Are margins and returns getting better?
Cashflow 0
Do the profits arrive as real cash?
Financial strength 80
Debt, balance sheet and risk of trouble
Investment 95
Does it invest with discipline instead of growing at any price?
Low Volatility 0
How calm the share price moves, does not count
Price momentum 96
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 95
Distance to the 52-week high, does not count
New shares 50
Buys back shares or issues new ones?

Open the full quality analysis →

Insider trades

In the last 6 months, 3 officers or directors sold shares worth $19.3M and none bought.

  • SaleCampbell RogersChief Medical Officer8× since Feb 12, 2026: 265,491 shares, avg. $30.23$8.0MOct 22, 202610b5-1 plan
  • SaleJohn C.M. FarquharChief Executive Officer, Director14× since Feb 10, 2026: 350,100 shares, avg. $36.76$12.9MOct 12, 202610b5-1 plan
  • SaleVikram VergheseChief Financial Officer4× since Sep 2, 2026: 99,376 shares, avg. $50.12$5.0MSep 18, 202610b5-1 plan
  • SaleBain Capital Life Sciences III General Partner, LLC10% owner2,000,000 shares at $29.45$58.9MApr 30, 2026
  • SaleJulie A CullivanDirector2× since Feb 5, 2026: 17,122 shares, avg. $26.08$446,610Mar 5, 202610b5-1 plan
  • SaleBain Capital Life Sciences Investors, LLC10% owner2,000,000 shares at $28.05$56.1MFeb 4, 2026
  • BuyJeffrey C LightcapDirector40,000 shares at $26.34$1.1MDec 16, 2025

Plus 17 other filings such as grants, option exercises or tax withholding. They are not market purchases or sales.

Sales are often planned (taxes, diversification, 10b5-1 plans). Purchases with their own money are seen as the stronger sign. For information only: not part of the quality score or Fair Value.

Source: SEC Form 4, as of Nov 9, 2026. All filings at the SEC ↗

Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 44/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: only 3 usable fiscal years, at least 4 required
not computed

HTFL screens overvalued: fair value 39% below the price. Compare with Veeva Systems Inc →

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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Health Information Services · 140 stocks

Beats the industry median on 1/9 measures
Overall it trails its industry peers.
Valuation
Quality Score 46 · Below median
Fair Value upside −38.5% · Below median
Profitability
Return on assets −32.5% · Bottom 25%
Net margin (12 months) −55.8% · Bottom 25%
Operating margin (12 months) −27.9% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY) 47.6% · Top 25%
Balance sheet
Debt / equity 0.45× · Highest 25%

Valuation Multiplesvs Health Information Services median · lower = cheaper

P/B 16.28× · Priciest 25%
P/S (12 months) 23.08× · Priciest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 12
FUTURE (revenue growth)100 · sector 46
PAST (return on equity)0 · sector 0
HEALTH (low debt)77 · sector 98
DIVIDEND (yield)0 · sector 46

VALUE 0: the price sits above our fair-value range.

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Health Information Services stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
HealthEquity, Inc HQY $102.11 $113.99 +12% vs HTFL
Doximity, Inc DOCS $32.87 $36.16 +10% vs HTFL
Veeva Systems Inc VEEV $306.40 $334.10 +9% vs HTFL
Waystar Holding WAY $29.18 $29.10 +0% vs HTFL
Tempus AI, Inc TEM $84.44 $52.58 −38% vs HTFL
Hinge Health, Inc HNGE $122.19 $51.25 −58% vs HTFL
Pro Medicus Limited PME A$205.89 A$85.12 −59% vs HTFL
BrightSpring Health Services, Inc BTSG $69.15 $25.72 −63% vs HTFL
XtalPi Holdings 2228 HK$6.37 HK$1.53 −76% vs HTFL
Privia Health Group PRVA $24.54 $5.52 −78% vs HTFL

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Heartflow, Inc. Common Stock: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "Heartflow, Inc. Common Stock Fair Value". https://www.fairvalue-calculator.com/stock/HTFL

Frequently asked questions

Is Heartflow, Inc. (HTFL) overvalued or undervalued?
As of Nov 10, 2026, our estimate of fair value is $34.82 versus a price of $56.66, about 39% lower (overvalued).
What is the fair value of HTFL?
Our estimate for Heartflow, Inc. is $34.82 (as of Nov 10, 2026), built from audited fundamentals. The current price: $56.66.
What is the quality score of HTFL?
Heartflow, Inc. has a Quality Score of 46/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Heartflow, Inc. (HTFL)?
Our calculated price target is the estimate of $34.82 (as of Nov 10, 2026). Cautious scenario $26.12, optimistic scenario $43.53. It is an estimate from revenue and assets compared with similar companies, because none of our valuation models currently carries, not an analyst target.
What is the Heartflow, Inc. Common Stock stock forecast for 2026?
Our estimate puts fair value at $34.82, about 39% lower versus a price of $56.66 (overvalued). Cautious scenario $26.12, optimistic scenario $43.53. The calculation is refreshed regularly with new filings.
What is the revenue of Heartflow, Inc. (HTFL)?
Heartflow, Inc. reported trailing-twelve-month revenue of about $212M (latest available figure, as of Nov 10, 2026).
What is the intrinsic value of Heartflow, Inc. (HTFL)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Heartflow, Inc. it is $34.82 per share (as of Nov 10, 2026), against a price of $56.66.
Is Heartflow, Inc. Common Stock stock overvalued or undervalued in 2026?
As of Nov 10, 2026, HTFL trades above its calculated fair value: price $56.66, fair value $34.82, a gap of about −39% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of HTFL?
No. The price is what the market pays today ($56.66); the fair value is what the company's own numbers justify ($34.82). For Heartflow, Inc. the two are $21.84 per share apart. That gap is exactly why we show both numbers side by side.
How much is Heartflow, Inc. Common Stock worth?
The market values Heartflow, Inc. at about $4.9B (market capitalisation, as of Nov 10, 2026). Per share that is $56.66; our models calculate a fair value of $34.82 per share.
What do the bullish and bearish scenarios say about HTFL?
Our models span a range for Heartflow, Inc.: cautious scenario $26.12, base $34.82, optimistic $43.53 per share (as of Nov 10, 2026, price $56.66). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Heartflow, Inc. (HTFL)?
Balance-sheet figures for Heartflow, Inc. (as of Nov 10, 2026): return on equity −154.2%, debt of 0.45 per unit of equity. They feed the Quality Score of 46/100, which measures business quality independently of the share price.
How far is HTFL from its 52-week high?
Heartflow, Inc. trades at $56.66, about 6% below its 52-week high of $60.53 and 177% above the low of $20.49 (as of Nov 9, 2026). Distance from the high says nothing about value: that is what the fair value of $34.82 is for.
Which stocks are comparable to Heartflow, Inc. Common Stock?
From the same area (Healthcare) we also value Veeva Systems Inc, Pro Medicus Limited, BrightSpring Health Services, Inc, Tempus AI, Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Heartflow, Inc. Common Stock stock attractive at the current price?
The data as of Nov 10, 2026: price $56.66, calculated fair value $34.82 (−39%), Quality Score 46/100. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
Is it still worth investing in stocks now?
The global stock market currently sits 13.7% above its aggregate fair value. Heartflow, Inc. itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Heartflow, Inc. (HTFL)?
The closing price on Nov 9, 2026 was $56.66. Our estimate is $34.82, about 39% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Heartflow, Inc. Common Stock right now?
The price sits above even our optimistic bull case ($43.53). The favourable scenario is already priced in. Weak quality (46/100) and above fair value at the same time, the margin of safety is missing on both counts. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.

Key figures of Heartflow, Inc.

How large is the market capitalisation of Heartflow, Inc. (HTFL)?
The market capitalisation of Heartflow, Inc. is $4.9B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Heartflow, Inc. (HTFL)?
The price-to-sales ratio of Heartflow, Inc. is 21.5 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Heartflow, Inc. (HTFL)?
Earnings per share at Heartflow, Inc. are $−0.2400. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Heartflow, Inc. (HTFL)?
The net margin of Heartflow, Inc. is −66.3% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Heartflow, Inc. (HTFL)?
The return on equity (ROE) of Heartflow, Inc. is −154% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Heartflow, Inc. (HTFL)?
On an EBIT basis the return on assets of Heartflow, Inc. is −36.3% (avg 3y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Heartflow, Inc. (HTFL)?
The operating margin of Heartflow, Inc. is −27.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Heartflow, Inc. (HTFL)?
Revenue at Heartflow, Inc. is growing +47.6% versus a year earlier. How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much free cash flow does Heartflow, Inc. (HTFL) generate?
The free cash flow of Heartflow, Inc. is −$59.0M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does Heartflow, Inc. (HTFL) hold?
Heartflow, Inc. holds more cash than debt, $22.7M net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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