BrightSpring Health Services Inc (BTSG) is overvalued and Healthequity Inc (HQY) is slightly overvalued.
Both trade above our estimate of their intrinsic value. HQY is the closer of the two: -18%, against -81% for BTSG.
Values as of the 22 Sept 2026 close.
Discounting its cash flows at 11.7% (average of 3 methods) values the shares at $31.17; the price of $56.55 is 81% above that value, and 69% of that value comes from beyond year five.
Leak Score 14/100 on 3 of 12 signals
Discounting its cash flows at 7.1% (average of 3 methods) values the shares at $77.73; the price of $91.75 is 18% above that value, and 83% of that value comes from beyond year five.
Leak Score 43/100 on 3 of 12 signals
| Metric | BTSG | HQY |
|---|---|---|
| Verdict | Overvalued | Slightly overvalued |
| Price | $56.55 | $91.75 |
| Intrinsic value | $31.17 | $77.73 |
| Margin of safety | -81% | -18% |
| Leak Score | 14/100 (3/12) | 43/100 (3/12) |
| Market cap | $11.2B | $7.6B |
| Revenue growth, 5 years | 18.3% | 12.4% |
| Operating margin | 3.7% | 26.1% |
| Net margin | 2.0% | 17.4% |
| Return on equity | 13.1% | 11.4% |
| Debt to equity | 1.17 | 0.49 |
| P/E | 42.2x | 33.1x |
| Forward P/E | 24.5x | 16.7x |
| P/B | 5.5x | 3.8x |