Veradigm

MDRX

Medical - Healthcare Information Services · Healthcare

Price

$4.97

+0.02 (+0.38%)

Market Cap

$844.1M

Exchange

Other OTC

Winston Score

Winston is curious

Mixed quality — meaningful strengths and weaknesses.

Data as of Aug 23, 2026 · filings through Sep 30, 2022

How the score breaks down

Quality

Mixed

Growth

Mixed

Cash Flow

Strong

Stability

Strong

Valuation

Strong

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Share count falling — buybacks

−26.8% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 176.0M (2018) → 128.9M (2022)

Winston Score History

The full picture

Veradigm is a healthcare technology company that connects doctors, hospitals, pharmacies, and drug companies through software and data tools. Its core products include electronic health record (EHR) systems used by physician practices, plus a large network that helps pharmaceutical and life sciences companies run clinical research and reach prescribers. The company operates primarily in the United States and serves a wide range of healthcare providers and biopharma clients.

Veradigm makes money through software subscriptions, data licensing fees, and services sold to life sciences companies who want access to its network of clinicians and patient data. Its competitive edge comes from owning a large, real-world clinical data asset built over many years — that kind of proprietary data is hard for rivals to replicate quickly. However, the company has posted operating losses and has faced financial reporting challenges in recent years, so restoring profitability and rebuilding investor trust remain the key hurdles ahead.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-58.9% YoY

YoY Growth Rate

Revenue declining

EPS Growth

+8.3% YoY

YoY Growth Rate

Slow EPS growth

R&D Spend

$98M/ year

↑ Rising (+15% vs prior year)

16.6% of revenue

In line with sector average (18%)

Investing heavily in future products and technology

Insider Activity

3.6%ownership

Relatively low insider ownership

Cash Position

Cash flow positive

$582M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Heavy R&D investment

Veradigm is putting 17% of revenue into R&D and that number is rising. And they're generating enough cash to self-fund it.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale

Gross Margin

54.9%

Healthy — 54.9% gross margin

Profit after running costs

Operating Margin

16.5%

Healthy — 16.5% operating margin

Return on the money invested

ROCE

4.9%

Weak — 4.9% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales growth

Sales YoY

-39.7%

Shrinking sales (-39.7% YoY)

Profit growth

EPS YoY

-90.4%

Earnings shrinking (-90.4% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

How steady the profit is

EPS Consistency

6/8 quarters

Earnings grew in most of the last 8 quarters

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Cash Flow

Profit that turns into cash

Cash Conversion

208%

Turns 208% of profit into real cash

Spare cash per sale

FCF Margin

10.4%

Modest free cash flow (10.4%)

FCF margin between 10% and 20%. Every $100 in sales becomes $10 to $20 in real cash.

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Stability

What it owes vs what it owns

Debt / Equity

0.18

Conservative — low debt load (0.18)

Covers its interest

Interest Cover

7.71x

Adequate interest coverage (7.7x)

Interest coverage between 3 and 8. Profits cover interest several times over.

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Valuation

Price vs profit

P/E Ratio (TTM)

10.6x

Attractive valuation — P/E 10.6

P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.

Cheaper or dearer next year

P/E vs Forward

+1.5

GROWING

Earnings expected to grow — slightly cheaper on forward P/E

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Dividends

Not applicable for this business.

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