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Heartflow, Inc. (HTFL)

Nasdaq: HTFL · Surgical & Medical Instruments & Apparatus · Mountain View, CA · filing with the SEC since 2009
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Grade6.2
◀ Past 6.1● Present 6.3▶ Future 6.2
3 est.
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The grade of Heartflow, Inc.

Nine metrics read from its own filings, by tense
Headline grade
6.2/10
◀ Past6.130% of the headline
● Present6.340% of the headline
▶ Future6.230% of the headline

All three tenses have at least two readings, so the archetype blend applies as printed.

Of the nine metrics, 6 read as filed from the record and 3 are SI estimates, each with its reasoning, its confidence and what would change it on its card.

◀ Past

What did they actually do?

6.1/1030% of the headline grade · 2 of 3 filed, 1 estimated

Surviving crises

as filed
8.3/10

Has it survived what it has been through?

No warning events in its filings since 2017.

weight 33% of this tense · 83rd percentile among 121 sector filers · read for itself

From the record

Heartflow, Inc.'s filings since 2017 show no warning events in the scan: no bankruptcy or receivership notice, no debt default notice, no exchange listing notice, no restatement warning, no auditor change, no material cyber incident and no late-report notice (its current reports).

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Track record

as filed
6.8/10

What has it actually done, year after year?

+42.1% a year over 3 filed years; profitable in 0 of 3.

weight 45% of this tense · 68th percentile among 105 sector filers · read for its customers

From the record

Heartflow, Inc.'s 3 filed years say what it did: revenue went from $87 million in fiscal 2023 to $176 million in fiscal 2025, up 42.1% a year; it rose in 2 of 2 years; it never fell from a peak; net income was positive in 0 of 3 of those years (its annual reports).

What it rests on

  • revenue growth over the filed span42.1%top 19% of its family
  • the share of years revenue rosetop 15% of its family
  • the share of filed years with a profitbottom 23% of its family
  • the deepest fall from a revenue peak0.0%top 16% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Shareholder treatment

SI estimate
1.3/10

How has it treated the people who own it?

SI estimate 1.3/10, confidence 35 of 100 (one part).

weight 22% of this tense · 13th percentile among 120 sector filers · read for its shareholders

SI estimate Inferred, not read as filed

Why it is an estimate
Read from one part only, the share count over the years, which ranks in the bottom 13% of 120 in its family; fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income.
What the record cannot read
Fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income.
How it was reasoned
one part: the share count over the years, the one part on file, ranked among 120 in its family.
Confidence
35 of 100
What would change it
A filing that carries the missing parts replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: Heartflow, Inc.'s shareholder treatment is put at 1.3 of 10 with a confidence of 35 of 100, because read from one part only, the share count over the years, which ranks in the bottom 13% of 120 in its family; fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income. A filing that carries the missing parts replaces this estimate with the filed reading.

● Present

What are they doing right now?

6.3/1040% of the headline grade · 2 of 3 filed, 1 estimated

Financial health

as filed
4.9/10

Is it financially healthy right now?

ROE -39%: lost 39¢ per shareholder dollar. Leverage 16%: owes 16¢ per asset dollar.

weight 45% of this tense · 49th percentile among 120 sector filers · read for itself

From the record

Return on equity: in the fiscal year ended 2025-12-31, Heartflow, Inc. lost about 39 cents for every dollar of shareholders' money, and gross profitability: its products earned about 38 cents per dollar of everything the company owns. Leverage: it owed about 16 cents per dollar of assets, and net share issuance: its share count grew 587.1% over the year (the filed statements).

What it rests on

  • what it owes per dollar of assetstop 15% of its family
  • return on equitybottom 46% of its family
  • gross profit against assetstop 41% of its family
  • the share count against the year beforebottom 6% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Industry position

as filed
5.7/10

How strong is its position in its industry?

top 43% of 109 in its family; net margin -66.3%.

weight 33% of this tense · 57th percentile among 109 sector filers · read for its customers

From the record

Heartflow, Inc.'s standing among 109 graded names in its industry family: revenue of $176 million in fiscal 2025 ranks in the top 40% by size; a net margin of -66.3% ranks in the bottom 30%; revenue growth of 42.1% a year over the last 2 filed years ranks in the top 19% (its annual reports).

What it rests on

  • revenue against the family$176Mtop 40% of its family
  • net margin-66.3%bottom 30% of its family
  • three-year revenue growth42.1%top 19% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Leadership

SI estimate
9.9/10

What are the people in charge doing?

SI estimate 9.9/10, confidence 35 of 100 (one part).

weight 22% of this tense · 100th percentile among 108 sector filers · read for its shareholders

SI estimate Inferred, not read as filed

Why it is an estimate
Read from one part only, officer and director changes on Form 8-K over three years, against the people in charge, which ranks in the top 1% of 108 in its family; the record of its people begins on 2025-08-07 (a listing, a merger or a first filing under the rules) and its chief executive and most of the people in charge have filed since then, so the record shows a floor of 1.3 years and cannot see past it; a floor under five years is not read as years in charge.
What the record cannot read
The record of its people begins on 2025-08-07 (a listing, a merger or a first filing under the rules) and its chief executive and most of the people in charge have filed since then, so the record shows a floor of 1.3 years and cannot see past it; a floor under five years is not read as years in charge.
How it was reasoned
one part: officer and director changes on Form 8-K, against the people in charge, the one part on file, ranked among 108 in its family.
Confidence
35 of 100
What would change it
A filing that carries the missing parts replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: Heartflow, Inc.'s leadership is put at 9.9 of 10 with a confidence of 35 of 100, because read from one part only, officer and director changes on Form 8-K over three years, against the people in charge, which ranks in the top 1% of 108 in its family; the record of its people begins on 2025-08-07 (a listing, a merger or a first filing under the rules) and its chief executive and most of the people in charge have filed since then, so the record shows a floor of 1.3 years and cannot see past it; a floor under five years is not read as years in charge. A filing that carries the missing parts replaces this estimate with the filed reading.

▶ Future

What are they set up to do next?

6.2/1030% of the headline grade · 2 of 3 filed, 1 estimated

Room to expand

as filed
6.3/10

How much room does it have to grow?

top 37% of 104 in its family for room to expand.

weight 45% of this tense · 63rd percentile among 104 sector filers · read for itself

From the record

Heartflow, Inc.'s room to grow, from the newest filed statements (fiscal 2025): cash of $49 million against no long-term debt tagged leaves 13.8% of its assets as net cash, top 45% of its family; cash from operations less capital spending is -33.5% of revenue (bottom 37%); a gross margin of 76.8% (top 17%); research spending of 36.9% of revenue (top 24%) (its annual report).

What it rests on

  • cash less debt against assets13.8%top 45% of its family
  • cash from operations less capital spending against revenue-33.5%bottom 37% of its family
  • gross margin76.8%top 17% of its family
  • research spending against revenue36.9%top 24% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Growth drivers

as filed
6.8/10

What could actually drive growth from here?

top 32% of 105 in its family for growth drivers.

weight 33% of this tense · 68th percentile among 105 sector filers · read for its customers

From the record

Heartflow, Inc.'s growth drivers, from the filed years to fiscal 2025: revenue grew 42.1% a year over the last three filed years against 42.1% over all 3, speeding up (top 43% of its family); the newest year grew 40% (top 15%); research spending grew 34.5% a year (top 11%); capital spending grew -9.3% a year (bottom 41%) (its annual reports). Heartflow, Inc. tags no split of its revenue by line in the annual report on file, so growth by line cannot be read here; research and capital spending are on the trend.

What it rests on

  • three-year growth against the whole span+0.0 points a yeartop 43% of its family
  • the newest year's revenue growth40.0%top 15% of its family
  • three-year growth of research spending34.5%top 11% of its family
  • three-year growth of capital spending-9.3%bottom 41% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Expectations vs reality

SI estimate
5.1/10

Did its newest year beat what its own record pointed to?

SI estimate 5.1/10, confidence 20 of 100 (family median).

weight 22% of this tense · 50th percentile among 88 sector filers · read for its shareholders

SI estimate Inferred, not read as filed

Why it is an estimate
The record does not carry four filed years of revenue and two of the three parts: revenue against the prior pace, earnings against the prior average, the margin change, so the desk assumes the typical reading of its industry family, the median of 88 members with one.
What the record cannot read
The record does not carry four filed years of revenue and two of the three parts: revenue against the prior pace, earnings against the prior average, the margin change.
How it was reasoned
family median, 88 readings behind it.
Confidence
20 of 100
What would change it
Its next annual report on file with the inputs replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: Heartflow, Inc.'s expectations vs reality is put at 5.1 of 10 with a confidence of 20 of 100, because the record does not carry four filed years of revenue and two of the three parts: revenue against the prior pace, earnings against the prior average, the margin change, so the desk assumes the typical reading of its industry family, the median of 88 members with one. Its next annual report on file with the inputs replaces this estimate with the filed reading.

The grade is the company against its own industry, from its filings. It is not a view on the share price. How the grade is made

SI Assistanton HTFL · research, not advice