Definitive Healthcare Corp.

HealthcareMedical - Healthcare Information ServicesNASDAQ

$0.95

Market Cap: $99.53M

Definitive Healthcare Corp. (DH) Valuation Summary

Updated May 11, 2026 13:52

Model	Range	Fair Value	Upside
▸ Discounted Cash Flow
Revenue DCF 5Y	$0.03 – $1.04	$0.19	-80.5%
Revenue DCF 10Y	$0.72 – $3.88	$1.48	+55.7%
▸ Trading Multiples
EV/Revenue	$8.07 – $123.10	$9.26	+872.1%

Valuation History

DCF Analysis

Definitive Healthcare Corp. (DH) Revenue DCF (5Y)

REVENUE DCF FAIR VALUE

$1.48

Market Price

$0.95

Upside / Downside

+55.7%

Verdict

Undervalued

Using a Revenue DCF model with operating margin convergence from -8.5% to a target of 13.2% over 5 years, discounted at a WACC of 7.6%, Definitive Healthcare Corp. (DH) has an intrinsic value of $1.48 per share (range: $0.72 – $3.88).

Key Assumptions

Current Operating Margin

-8.5%

Target Operating Margin

13.2%

WACC

7.6%

Terminal Growth Rate

3.0%

Historical CapEx/Rev

4.2%

Target CapEx/Rev

37.8%

D&A/Revenue

25.2%

Tax Rate

21.0%

Operating margin fades linearly from the current level to the industry target over the 5-year projection. CapEx intensity fades from the historical average to a maintenance level (D&A × 1.5). Tax is only applied when operating income is positive (NOL shield).

Margin Convergence Projection

USD in millions. Mid-year discounting convention.

Year	Revenue	Growth	Op Margin	Op Income	NOPAT	D&A	CapEx	ΔNWC	FCFF	PV(FCFF)
2026	224	-7.4%	-4.2%	-9	-9	56	(17)	-1	31	30
2027	225	0.6%	0.2%	0	0	57	(24)	0	32	29
2028	241	7.2%	4.5%	11	9	61	(34)	3	32	26
2029	265	9.8%	8.8%	23	19	67	(47)	5	34	26
2030	291	9.8%	13.2%	38	30	73	(61)	6	37	27
2031	316	8.7%	13.2%	42	33	80	(77)	5	30	20
2032	340	7.5%	13.2%	45	35	86	(94)	5	22	14
2033	361	6.4%	13.2%	48	38	91	(112)	5	12	7
2034	380	5.3%	13.2%	50	40	96	(131)	4	0	0
2035	396	4.1%	13.2%	52	41	100	(150)	3	-12	-6

Enterprise Value Bridge

Sum of PV(FCFF)172

Terminal Value (Gordon Growth at 3.0%)0

PV of Terminal Value0

Enterprise Value172

(–) Net Debt14

Equity Value158

(÷) Shares Outstanding107

Fair Value per Share$1.48

Note:Terminal value is $0 because Year 5 FCFF is negative. The company's operating margin convergence does not fully offset reinvestment needs within 5 years. See the sensitivity matrix for scenarios where the model produces a positive terminal value (higher target margin or lower WACC).

Sensitivity Analysis — WACC × Target Operating Margin

WACC \ Target Op. Margin	7.2%	10.2%	13.2%	16.2%	19.2%
5.6%	$1	$1	$2	$2	$4
6.6%	$1	$1	$2	$2	$3
7.6%	$1	$1	$1	$2	$3
8.6%	$1	$1	$1	$2	$3
9.6%	$1	$1	$1	$2	$2

Current price: $0.95. Green = undervalued, Red = overvalued.

Working Capital Assumption

Net Working Capital is modeled at 21.2% of revenue (historical average of receivables + inventory − payables). Changes in NWC (ΔNWC) are computed year-over-year and subtracted from free cash flow.

Definitive Healthcare Corp. (DH) Revenue DCF (5Y)

REVENUE DCF FAIR VALUE

$0.19

Market Price

$0.95

Upside / Downside

-80.5%

Verdict

Overvalued

Key Assumptions

Current Operating Margin

-8.5%

Target Operating Margin

13.2%

WACC

7.6%

Terminal Growth Rate

3.0%

Historical CapEx/Rev

4.2%

Target CapEx/Rev

37.8%

D&A/Revenue

25.2%

Tax Rate

21.0%

Margin Convergence Projection

USD in millions. Mid-year discounting convention.

Year	Revenue	Growth	Op Margin	Op Income	NOPAT	D&A	CapEx	ΔNWC	FCFF	PV(FCFF)
2026	224	-7.4%	-4.2%	-9	-9	56	(24)	-1	24	23
2027	225	0.6%	0.2%	0	0	57	(40)	0	17	15
2028	241	7.2%	4.5%	11	9	61	(59)	3	7	6
2029	265	9.8%	8.8%	23	19	67	(82)	5	-2	-2
2030	291	9.8%	13.2%	38	30	73	(110)	6	-12	-8

Enterprise Value Bridge

Sum of PV(FCFF)34

Terminal Value (Gordon Growth at 3.0%)0

PV of Terminal Value0

Enterprise Value34

(–) Net Debt14

Equity Value20

(÷) Shares Outstanding107

Fair Value per Share$0.19

Sensitivity Analysis — WACC × Target Operating Margin

WACC \ Target Op. Margin	7.2%	10.2%	13.2%	16.2%	19.2%
5.6%	$-0	$0	$0	$0	$1
6.6%	$-0	$0	$0	$0	$1
7.6%	$-0	$0	$0	$0	$1
8.6%	$-0	$0	$0	$0	$1
9.6%	$-0	$0	$0	$0	$1

Current price: $0.95. Green = undervalued, Red = overvalued.

Working Capital Assumption

Net Working Capital is modeled at 21.2% of revenue (historical average of receivables + inventory − payables). Changes in NWC (ΔNWC) are computed year-over-year and subtracted from free cash flow.

Trading Multiples

Fair Value

$9.26

Market Price

$0.95

Upside / Downside

+872.1%

Verdict

Undervalued

Using the industry peer median EV/Revenue multiple (trailing + forward), Definitive Healthcare Corp. (DH) has a fair value of $9.26 based on 8 comparable companies in the Medical - Healthcare Information Services industry.

EV/Revenue Valuation — Medical - Healthcare Information Services

USD in millions except Fair Price. Subject company highlighted.

	Mkt Cap ($M)	Trailing EV/Revenue	Forward EV/Revenue
Definitive Healthcare Corp.DH	102	0.5x	0.5x
National Research CorporationNRC	423	3.6x	1.9x
Kyverna Therapeutics, Inc.KYTX	409	54.4x	30.6x
SOPHiA GENETICS S.A.SOPH	387	4.9x	4.1x
TruBridge, Inc.TBRG	387	1.5x	1.6x
Simulations Plus, Inc.SLP	325	3.7x	3.6x
Editas Medicine, Inc.EDIT	304	5.8x	9.6x
Spok Holdings, Inc.SPOK	226	1.5x	1.6x
Nakamoto Inc.NAKA	67	139.2x	113.2x
Industry Median		4.3x	3.8x
(*) Revenue		242	250
= Enterprise Value		1,042	962
(-) Net Debt		14	14
Equity Value		1,028	947
(/) Outstanding shares		107	107
Fair Price		$10	$9

Selected Fair Value (avg of trailing + forward)

$9.26

+872.1%

Disclaimer: Sweet Value Lab provides estimated intrinsic values for informational purposes only. This is not financial advice. All models rely on assumptions that may not reflect future performance. Always do your own research before making investment decisions.

Definitive Healthcare Corp. (DH) Valuation Summary

Updated May 11, 2026 13:52

Model	Range	Fair Value	Upside
▸ Discounted Cash Flow
Revenue DCF 5Y	$0.03 – $1.04	$0.19	-80.5%
Revenue DCF 10Y	$0.72 – $3.88	$1.48	+55.7%
▸ Trading Multiples
EV/Revenue	$8.07 – $123.10	$9.26	+872.1%

Valuation History

DCF Analysis

Definitive Healthcare Corp. (DH) Revenue DCF (5Y)

REVENUE DCF FAIR VALUE

$1.48

Market Price

$0.95

Upside / Downside

+55.7%

Verdict

Undervalued

Key Assumptions

Current Operating Margin

-8.5%

Target Operating Margin

13.2%

WACC

7.6%

Terminal Growth Rate

3.0%

Historical CapEx/Rev

4.2%

Target CapEx/Rev

37.8%

D&A/Revenue

25.2%

Tax Rate

21.0%

Margin Convergence Projection

USD in millions. Mid-year discounting convention.

Year	Revenue	Growth	Op Margin	Op Income	NOPAT	D&A	CapEx	ΔNWC	FCFF	PV(FCFF)
2026	224	-7.4%	-4.2%	-9	-9	56	(17)	-1	31	30
2027	225	0.6%	0.2%	0	0	57	(24)	0	32	29
2028	241	7.2%	4.5%	11	9	61	(34)	3	32	26
2029	265	9.8%	8.8%	23	19	67	(47)	5	34	26
2030	291	9.8%	13.2%	38	30	73	(61)	6	37	27
2031	316	8.7%	13.2%	42	33	80	(77)	5	30	20
2032	340	7.5%	13.2%	45	35	86	(94)	5	22	14
2033	361	6.4%	13.2%	48	38	91	(112)	5	12	7
2034	380	5.3%	13.2%	50	40	96	(131)	4	0	0
2035	396	4.1%	13.2%	52	41	100	(150)	3	-12	-6

Enterprise Value Bridge

Sum of PV(FCFF)172

Terminal Value (Gordon Growth at 3.0%)0

PV of Terminal Value0

Enterprise Value172

(–) Net Debt14

Equity Value158

(÷) Shares Outstanding107

Fair Value per Share$1.48

Sensitivity Analysis — WACC × Target Operating Margin

WACC \ Target Op. Margin	7.2%	10.2%	13.2%	16.2%	19.2%
5.6%	$1	$1	$2	$2	$4
6.6%	$1	$1	$2	$2	$3
7.6%	$1	$1	$1	$2	$3
8.6%	$1	$1	$1	$2	$3
9.6%	$1	$1	$1	$2	$2

Current price: $0.95. Green = undervalued, Red = overvalued.

Working Capital Assumption

Net Working Capital is modeled at 21.2% of revenue (historical average of receivables + inventory − payables). Changes in NWC (ΔNWC) are computed year-over-year and subtracted from free cash flow.

Definitive Healthcare Corp. (DH) Revenue DCF (5Y)

REVENUE DCF FAIR VALUE

$0.19

Market Price

$0.95

Upside / Downside

-80.5%

Verdict

Overvalued

Key Assumptions

Current Operating Margin

-8.5%

Target Operating Margin

13.2%

WACC

7.6%

Terminal Growth Rate

3.0%

Historical CapEx/Rev

4.2%

Target CapEx/Rev

37.8%

D&A/Revenue

25.2%

Tax Rate

21.0%

Margin Convergence Projection

USD in millions. Mid-year discounting convention.

Year	Revenue	Growth	Op Margin	Op Income	NOPAT	D&A	CapEx	ΔNWC	FCFF	PV(FCFF)
2026	224	-7.4%	-4.2%	-9	-9	56	(24)	-1	24	23
2027	225	0.6%	0.2%	0	0	57	(40)	0	17	15
2028	241	7.2%	4.5%	11	9	61	(59)	3	7	6
2029	265	9.8%	8.8%	23	19	67	(82)	5	-2	-2
2030	291	9.8%	13.2%	38	30	73	(110)	6	-12	-8

Enterprise Value Bridge

Sum of PV(FCFF)34

Terminal Value (Gordon Growth at 3.0%)0

PV of Terminal Value0

Enterprise Value34

(–) Net Debt14

Equity Value20

(÷) Shares Outstanding107

Fair Value per Share$0.19

Sensitivity Analysis — WACC × Target Operating Margin

WACC \ Target Op. Margin	7.2%	10.2%	13.2%	16.2%	19.2%
5.6%	$-0	$0	$0	$0	$1
6.6%	$-0	$0	$0	$0	$1
7.6%	$-0	$0	$0	$0	$1
8.6%	$-0	$0	$0	$0	$1
9.6%	$-0	$0	$0	$0	$1

Current price: $0.95. Green = undervalued, Red = overvalued.

Working Capital Assumption

Net Working Capital is modeled at 21.2% of revenue (historical average of receivables + inventory − payables). Changes in NWC (ΔNWC) are computed year-over-year and subtracted from free cash flow.

Trading Multiples

Fair Value

$9.26

Market Price

$0.95

Upside / Downside

+872.1%

Verdict

Undervalued

EV/Revenue Valuation — Medical - Healthcare Information Services

USD in millions except Fair Price. Subject company highlighted.

	Mkt Cap ($M)	Trailing EV/Revenue	Forward EV/Revenue
Definitive Healthcare Corp.DH	102	0.5x	0.5x
National Research CorporationNRC	423	3.6x	1.9x
Kyverna Therapeutics, Inc.KYTX	409	54.4x	30.6x
SOPHiA GENETICS S.A.SOPH	387	4.9x	4.1x
TruBridge, Inc.TBRG	387	1.5x	1.6x
Simulations Plus, Inc.SLP	325	3.7x	3.6x
Editas Medicine, Inc.EDIT	304	5.8x	9.6x
Spok Holdings, Inc.SPOK	226	1.5x	1.6x
Nakamoto Inc.NAKA	67	139.2x	113.2x
Industry Median		4.3x	3.8x
(*) Revenue		242	250
= Enterprise Value		1,042	962
(-) Net Debt		14	14
Equity Value		1,028	947
(/) Outstanding shares		107	107
Fair Price		$10	$9

Selected Fair Value (avg of trailing + forward)

$9.26

+872.1%