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Side-by-side financial comparison of HEALTHSTREAM INC (HSTM) and Safehold Inc. (SAFE). Click either name above to swap in a different company.
Safehold Inc. is the larger business by last-quarter revenue ($97.9M vs $79.7M, roughly 1.2× HEALTHSTREAM INC). On growth, HEALTHSTREAM INC posted the faster year-over-year revenue change (7.4% vs 6.5%). Over the past eight quarters, HEALTHSTREAM INC's revenue compounded faster (4.7% CAGR vs 2.5%).
HealthStream Inc is a leading U.S.-based provider of workforce development, compliance, and training solutions tailored for the healthcare industry. It offers cloud-based platforms covering clinical skill training, talent management, patient safety education, and regulatory adherence tools, serving over 4,000 healthcare organizations including hospitals, clinics, and long-term care facilities nationwide.
SAFE Investment Company Limited is a Chinese sovereign wealth fund based in Hong Kong.
HSTM vs SAFE — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $79.7M | $97.9M |
| Net Profit | — | $27.9M |
| Gross Margin | — | 98.6% |
| Operating Margin | 3.0% | 27.4% |
| Net Margin | — | 28.5% |
| Revenue YoY | 7.4% | 6.5% |
| Net Profit YoY | — | 7.1% |
| EPS (diluted) | $0.09 | $0.38 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $79.7M | $97.9M | ||
| Q3 25 | $76.5M | $96.2M | ||
| Q2 25 | $74.4M | $93.8M | ||
| Q1 25 | $73.5M | $97.7M | ||
| Q4 24 | $74.2M | $91.9M | ||
| Q3 24 | $73.1M | $90.7M | ||
| Q2 24 | $71.6M | $89.9M | ||
| Q1 24 | $72.8M | $93.2M |
| Q4 25 | — | $27.9M | ||
| Q3 25 | $6.1M | $29.3M | ||
| Q2 25 | $5.4M | $27.9M | ||
| Q1 25 | $4.3M | $29.4M | ||
| Q4 24 | — | $26.0M | ||
| Q3 24 | $5.7M | $19.3M | ||
| Q2 24 | $4.2M | $29.7M | ||
| Q1 24 | $5.2M | $30.7M |
| Q4 25 | — | 98.6% | ||
| Q3 25 | — | 98.5% | ||
| Q2 25 | — | 99.1% | ||
| Q1 25 | — | 98.8% | ||
| Q4 24 | — | 98.8% | ||
| Q3 24 | — | 98.8% | ||
| Q2 24 | — | 98.8% | ||
| Q1 24 | — | 98.8% |
| Q4 25 | 3.0% | 27.4% | ||
| Q3 25 | 9.9% | 25.9% | ||
| Q2 25 | 7.9% | 25.5% | ||
| Q1 25 | 6.0% | 25.9% | ||
| Q4 24 | 6.3% | 24.6% | ||
| Q3 24 | 8.9% | 17.5% | ||
| Q2 24 | 6.2% | 26.7% | ||
| Q1 24 | 7.8% | 26.4% |
| Q4 25 | — | 28.5% | ||
| Q3 25 | 8.0% | 30.5% | ||
| Q2 25 | 7.2% | 29.8% | ||
| Q1 25 | 5.9% | 30.1% | ||
| Q4 24 | — | 28.3% | ||
| Q3 24 | 7.8% | 21.3% | ||
| Q2 24 | 5.8% | 33.0% | ||
| Q1 24 | 7.2% | 33.0% |
| Q4 25 | $0.09 | $0.38 | ||
| Q3 25 | $0.20 | $0.41 | ||
| Q2 25 | $0.18 | $0.39 | ||
| Q1 25 | $0.14 | $0.41 | ||
| Q4 24 | $0.16 | $0.36 | ||
| Q3 24 | $0.19 | $0.27 | ||
| Q2 24 | $0.14 | $0.42 | ||
| Q1 24 | $0.17 | $0.43 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $36.2M | $21.7M |
| Total DebtLower is stronger | — | $4.6B |
| Stockholders' EquityBook value | $354.0M | $2.4B |
| Total Assets | $520.4M | $7.2B |
| Debt / EquityLower = less leverage | — | 1.90× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $36.2M | $21.7M | ||
| Q3 25 | $53.5M | $12.1M | ||
| Q2 25 | $52.1M | $13.9M | ||
| Q1 25 | $77.3M | $17.3M | ||
| Q4 24 | $59.5M | $8.3M | ||
| Q3 24 | $57.5M | $15.6M | ||
| Q2 24 | $46.1M | $13.4M | ||
| Q1 24 | $52.4M | $11.3M |
| Q4 25 | — | $4.6B | ||
| Q3 25 | — | $4.5B | ||
| Q2 25 | — | $4.4B | ||
| Q1 25 | — | $4.3B | ||
| Q4 24 | — | $4.3B | ||
| Q3 24 | — | $4.3B | ||
| Q2 24 | — | $4.2B | ||
| Q1 24 | — | $4.1B |
| Q4 25 | $354.0M | $2.4B | ||
| Q3 25 | $349.2M | $2.4B | ||
| Q2 25 | $350.6M | $2.4B | ||
| Q1 25 | $362.8M | $2.4B | ||
| Q4 24 | $359.4M | $2.3B | ||
| Q3 24 | $355.5M | $2.3B | ||
| Q2 24 | $349.2M | $2.3B | ||
| Q1 24 | $344.9M | $2.3B |
| Q4 25 | $520.4M | $7.2B | ||
| Q3 25 | $499.9M | $7.1B | ||
| Q2 25 | $500.1M | $7.1B | ||
| Q1 25 | $524.0M | $6.9B | ||
| Q4 24 | $510.8M | $6.9B | ||
| Q3 24 | $502.8M | $6.8B | ||
| Q2 24 | $499.6M | $6.8B | ||
| Q1 24 | $511.6M | $6.7B |
| Q4 25 | — | 1.90× | ||
| Q3 25 | — | 1.89× | ||
| Q2 25 | — | 1.87× | ||
| Q1 25 | — | 1.85× | ||
| Q4 24 | — | 1.84× | ||
| Q3 24 | — | 1.88× | ||
| Q2 24 | — | 1.81× | ||
| Q1 24 | — | 1.81× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $13.2M | $47.8M |
| Free Cash FlowOCF − Capex | $13.0M | — |
| FCF MarginFCF / Revenue | 16.3% | — |
| Capex IntensityCapex / Revenue | 0.3% | — |
| Cash ConversionOCF / Net Profit | — | 1.72× |
| TTM Free Cash FlowTrailing 4 quarters | $59.6M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $13.2M | $47.8M | ||
| Q3 25 | $18.0M | $-1.4M | ||
| Q2 25 | $5.0M | $28.0M | ||
| Q1 25 | $27.1M | $8.9M | ||
| Q4 24 | $11.2M | $37.9M | ||
| Q3 24 | $19.1M | $8.3M | ||
| Q2 24 | $6.5M | $24.8M | ||
| Q1 24 | $20.9M | $-3.1M |
| Q4 25 | $13.0M | — | ||
| Q3 25 | $17.9M | — | ||
| Q2 25 | $2.7M | — | ||
| Q1 25 | $26.0M | — | ||
| Q4 24 | $11.0M | — | ||
| Q3 24 | $18.8M | — | ||
| Q2 24 | $6.3M | — | ||
| Q1 24 | $20.2M | — |
| Q4 25 | 16.3% | — | ||
| Q3 25 | 23.4% | — | ||
| Q2 25 | 3.6% | — | ||
| Q1 25 | 35.4% | — | ||
| Q4 24 | 14.8% | — | ||
| Q3 24 | 25.8% | — | ||
| Q2 24 | 8.8% | — | ||
| Q1 24 | 27.8% | — |
| Q4 25 | 0.3% | — | ||
| Q3 25 | 0.1% | — | ||
| Q2 25 | 3.1% | — | ||
| Q1 25 | 1.4% | — | ||
| Q4 24 | 0.3% | — | ||
| Q3 24 | 0.4% | — | ||
| Q2 24 | 0.2% | — | ||
| Q1 24 | 1.0% | — |
| Q4 25 | — | 1.72× | ||
| Q3 25 | 2.96× | -0.05× | ||
| Q2 25 | 0.93× | 1.00× | ||
| Q1 25 | 6.25× | 0.30× | ||
| Q4 24 | — | 1.45× | ||
| Q3 24 | 3.34× | 0.43× | ||
| Q2 24 | 1.55× | 0.83× | ||
| Q1 24 | 4.01× | -0.10× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
HSTM
| Subscription Services | $77.0M | 97% |
| Professional Services | $2.7M | 3% |
SAFE
| Equity Method Investment Nonconsolidated Investee Or Group Of Investees | $60.3M | 62% |
| Other | $33.7M | 34% |
| Stabilized Properties | $3.8M | 4% |
