Hinge Health, Inc. (NYSE: HNGE)

Sector: Healthcare Industry: Health Information Services CIK: 0001673743
Market Cap 531.43 Mn
P/B 2.55
P/E -44.53
P/S 1.36
ROIC (Qtr) 0.00
Div Yield % 0.00
Rev 1y % (Qtr) 53.27
Total Debt (Qtr) 9.03 Mn
Debt/Equity (Qtr) 0.04
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About

Investment thesis

Bull case

  • Healthy cash reserves of 261.34M provide 62.51x coverage of short-term debt 4.18M, demonstrating strong liquidity position and minimal refinancing risk.
  • Strong tangible asset base of 702.97M provides 77.81x coverage of total debt 9.03M, indicating robust asset backing and low credit risk.
  • Long-term investments of 15.08M provide solid 3.11x coverage of long-term debt 4.85M, indicating strategic financial planning.
  • Cash reserves of 261.34M exceed inventory value of 13.81M by 18.92x, indicating strong liquidity and inventory management.
  • Cash position of 261.34M represents healthy 0.87x of working capital 301.81M, demonstrating strong operational liquidity.

Bear case

  • High receivables of 86.77M relative to inventory of 13.81M (6.28 ratio) suggests aggressive credit terms or collection difficulties, potentially masking revenue quality issues.
  • Operating cash flow of 0 provides insufficient coverage of deferred revenue obligations of 299.69M, which is 0x, raising concerns about future service delivery capabilities.
  • Long-term investments of 15.08M represent a high 0.93x of fixed assets 16.14M, indicating potential overexposure to financial assets versus operational capabilities.
  • Short-term investments of 218.69M represent 0.72x of working capital 301.81M, suggesting potentially excessive financial asset allocation versus operational needs.
  • Retained earnings of (1.08B) provide limited buffer against comprehensive income items of 53000, which is -20435.68x, indicating elevated exposure to market risks.

Peer comparison

Companies in the Health Information Services
S.No. Ticker Company Market Cap P/E P/S Total Debt (Qtr)
1 GEHC GE HealthCare Technologies Inc. 37.32 Bn 16.66 1.87 10.00 Bn
2 TEM Tempus AI, Inc. 35.72 Bn -175.20 32.32 1.34 Bn
3 VEEV Veeva Systems Inc 28.87 Bn 33.55 9.37 0.09 Bn
4 BTSG BrightSpring Health Services, Inc. 7.67 Bn 59.17 0.62 2.70 Bn
5 HQY Healthequity, Inc. 6.45 Bn 33.65 5.00 1.03 Bn
6 DOCS Doximity, Inc. 4.63 Bn 19.35 7.26 0.01 Bn
7 WAY Waystar Holding Corp. 4.33 Bn 38.59 3.93 1.49 Bn
8 PRVA Privia Health Group, Inc. 2.67 Bn 147.20 1.31 0.01 Bn

Industry comparisons

Current Valuation Value Ind Avg Percentile
EV to Assets EV to Assets 0.00 1.94
EV to Cash from Ops. EV to Cash from Ops. 0.00 -6.03
EV to Debt EV to Debt 0.00 145.43
EV to EBIT EV to EBIT 0.00 -101.02
EV to EBITDA EV to EBITDA 0.00 2.47
EV to Free Cash Flow [EV/FCF] EV to Free Cash Flow [EV/FCF] 0.00 3.97
EV to Market Cap EV to Market Cap 0.00 -28.84
EV to Revenue EV to Revenue 0.00 -0.03
Price to Book Value [P/B] P/B 2.55 7.66
Price to Earnings [P/E] P/E -44.53 98.34
Dividend Metrics Value Ind Avg Percentile
Dividend Coverage Ratio Div Coverage (Qtr) 0.00 -8.72
Dividend Payout Ratio % Div Payout % (Qtr) 0.00 5.01
Dividend per Basic Share Div per Share (Qtr) 0.00 0.04
FCF Dividend Payout Ratio % FCF Div Payout % (Qtr) 0.00 4.56
Interest Coverage Interest Coverage 0.00 -584.72
Growth Metrics Value Ind Avg Percentile
Capex Growth (1y) % Capex 1y % (Qtr) 0.00 -23.97
Cash and Equivalents Growth (1y) % Cash & Equiv 1y % (Qtr) 0.00 167.20
Dividend Growth (1y) % Dividend Growth (1y) % 0.00 -1.33
EBIAT Growth (1y) % EBIAT 1y % (Qtr) 0.00 -19.20
EBITDA Growth (1y) % EBITDA 1y % (Qtr) 0.00 40.04
EBIT Growth (1y) % EBIT 1y % (Qtr) 0.00 -39.33
EBT Growth (1y) % EBT 1y % (Qtr) 0.00 6.33
EPS Growth (1y) % EPS 1y % (Qtr) 0.00 8.83
FCF Growth (1y) % FCF 1y % (Qtr) 0.00 -6.20
Gross Profit Growth (1y) % Gross Profit 1y % (Qtr) 0.00 4.96
Liquidity Ratios Value Ind Avg Percentile
Asset Utilization Ratio Asset Util Ratio (Qtr) 0.00 0.66
Cash Payout Ratio Cash Payout (Qtr) 0.00 0.03
Cash Ratio Cash Ratio (Qtr) 0.73 1.81
Current Ratio Curr Ratio (Qtr) 1.85 3.20
Debt to Equity Ratio Debt/Equity (Qtr) 0.04 -0.43
Interest Cover Ratio Interest Cover Ratio 0.00 -584.72
Times Interest Earned Times Interest Earned 0.00 -584.72
Profitability Value Ind Avg Percentile
EBITDA Margin % EBITDA Margin % (Qtr) 0.00 -435.68
EBIT Margin % EBIT Margin % (Qtr) 0.00 -464.60
EBT Margin % EBT Margin % (Qtr) 0.00 -461.63
Gross Margin % Gross Margin % (Qtr) 0.00 44.04
Net Profit Margin % Net Margin % (Qtr) 0.00 -467.91