Definitive Healthcare Corp. key statistics and ratios

In fiscal 2025, Definitive Healthcare Corp. had return on equity of -28.2%, an operating margin of -92.9%, debt equal to 43.9% of equity and a current ratio of 1.64. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Definitive Healthcare Corp.: financial ratios, annual
Fiscal year	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025	LTMJun 2026
Gross margin	74.2%	75.5%	80.9%	81.1%	78.3%	75.9%	75.2%
Operating margin	−13.4%	−16.4%	−19.8%	−131.2%	−281.8%	−92.9%	−104.6%
Net margin	0.0%	−10.7%	−3.2%	−80.5%	−163.8%	−57.5%	−72.3%
Free-cash-flow margin	18.4%	11.1%	12.2%	15.2%	18.2%	15.3%	12.3%
Return on equity	0.0%	−1.3%	−0.5%	−15.1%	−45.7%	−28.2%	−59.3%
Return on assets	0.0%	−0.9%	−0.3%	−10.3%	−28.3%	−15.2%	−27.3%
Asset turnover	0.07	0.09	0.10	0.13	0.17	0.26	0.38
Current ratio	0.70	3.61	2.94	2.31	2.30	1.64	1.86
Debt to equity	39.6%	18.2%	18.0%	21.5%	40.2%	43.9%	85.5%
Interest cover (operating income ÷ interest)	n/m	n/m	n/m	n/m	n/m	n/m	n/m
R&D as % of revenue	9.3%	11.2%	15.7%	16.9%	14.5%	14.4%	13.2%
Capital spending as % of revenue	1.2%	4.1%	3.7%	1.2%	4.9%	6.9%	5.5%
Dividends and buybacks ÷ free cash flow	0.0%	>999%	0.0%	0.0%	48.8%	133.4%	32.3%

US$ thousands unless shown otherwise. Fiscal quarters.

Definitive Healthcare Corp.: financial ratios, quarterly
Quarter	2024 Q3Sept 2024	2024 Q4Dec 2024	2025 Q1Mar 2025	2025 Q2Jun 2025	2025 Q3Sept 2025	2025 Q4Dec 2025	2026 Q1Mar 2026	2026 Q2Jun 2026
Gross margin	78.2%	76.4%	73.9%	76.7%	76.6%	76.2%	74.5%	73.5%
Operating margin	−359.5%	−159.8%	−312.2%	−6.9%	−14.5%	−43.3%	−359.9%	−12.2%
Net margin	−208.8%	−94.8%	−181.2%	−12.4%	−24.7%	−15.1%	−247.9%	−9.8%
Free-cash-flow margin	29.8%	−4.4%	31.0%	11.5%	22.3%	−2.8%	15.0%	15.4%
Current ratio	2.49	2.30	1.75	1.65	1.60	1.64	1.75	1.86
Debt to equity	35.4%	40.0%	39.3%	41.1%	42.8%	43.5%	85.3%	85.5%
R&D as % of revenue	11.6%	14.4%	15.7%	13.1%	12.6%	16.2%	11.6%	12.2%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

4 of 7 checks passed · June 30, 2026

What it owns · $497m

Short-term assets $240mLonger-term assets $257m

What it owes, and who funded it · $497m

Short-term liabilities $129mLonger-term liabilities $180mShareholders' equity $188m

Short-term assets cover short-term liabilities $240m of assets due within a year against $129m of liabilities due within a year.
Short-term assets cover long-term liabilities $240m short-term assets against $180m of longer-dated liabilities.
More cash than debt $171m of cash against $161m of debt.
Debt below 40% of shareholders' equity Debt is 86% of equity.
Debt burden no higher than five years ago Debt to equity moved from 18% to 86% over five years.
A year's operating cash flow covers at least 20% of debt $41m of operating cash flow against $161m of debt.
Operating profit covers interest at least five times over Operating income of −$243m against $11m of interest.

From Definitive Healthcare Corp.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

58 /100

Moderate moat

How hard Definitive Healthcare's competitive advantage looks for rivals to wear away, judged from 6 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

Returns on capital 4 / 20

Cash operating profit has been a median 4.2% of total assets over 5 years.
Pricing power 19 / 20

Gross margin has been a median 76.7%, moving by 2.6 percentage points (standard deviation) across 6 years.
Durability 10 / 20

Operating margin has been a median -62.9%; its worst year was -267.5%.
Cash conversion 18 / 20

Free cash flow was positive in 5 of 5 years, at a median 15.1% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (63 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

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Figures from Definitive Healthcare Corp.'s SEC filings (10-K and 10-Q), retrieved October 29, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Definitive Healthcare Corp.