Recent News
Nov. 26, 2025: Investor’s Business Daily reported a rise in Privia Health’s Relative Strength rating to 74. Dec. 4–7, 2025: Stephens reiterated an Overweight rating with a $32 target and multiple broker notes raised price objectives. Jan. 18–31, 2026: analyst consensus stayed at a “Moderate Buy,” and market commentary tied short-term pressure to broader Medicare/MA sector headlines.
Technical Analysis
Directional indicators show no established trend: ADX reads 18.35, which indicates a lack of a strong directional trend and suggests range-bound action is more likely than a sustained breakout.
DI+ (15.4) increases while DI– (22.38) shows a dip-and-reversal pattern; the present DI– dominance coupled with DI+ rising produces a mixed directional picture that leans toward short-term downside pressure until DI+ overtakes DI– decisively.
Momentum measures signal weakening price thrust: MACD stands at –0.42 with the MACD signal at –0.41 and the MACD trend labeled peak-and-reversal, which constitutes bearish momentum and indicates the MACD did not cross above its signal line.
MRO equals –12.89 and is decreasing; the negative MRO implies the current price sits below WMDST’s target and therefore contains potential upward corrective pressure, but the decreasing MRO trend reduces the immediacy of that potential.
RSI at 44.82 with a peak-and-reversal trend points to recent loss of upside momentum and room to trade lower before entering oversold territory.
Price sits below the 12-day EMA (12-day EMA = $22.00) and below the 20-, 50- and 200-day averages ($21.87, $23.19, $22.96 respectively), and inside the lower Bollinger band area (lower 1σ $21.54). Ichimoku components place price beneath the cloud (Senkou A $23.83, Senkou B $24.46), reinforcing short-term technical resistance above current levels.
Volume sits near recent averages (10-day avg 573,791 vs. today 741,936) but below the 200-day mean, implying insufficient conviction for a trend reversal at present. Collectively, these technicals support a near-term bias toward consolidation with modest downside risk unless momentum indicators flip bullish.
Fundamental Analysis
Revenue and margins: total revenue equals $580.4M and WMDST reports revenue growth of 11.37%; quarter-over-quarter revenue growth registers +32.98% while year‑over‑year revenue growth shows +207.93% per supplied labels. Gross margin equals 10.99% and operating (EBIT) margin equals 2.48%.
Profitability dynamics improved sharply: EBIT of $14.40M and EBITDA of $17.17M reflect an EBIT margin increase QoQ of +287.66% and YoY of +86.96%, indicating rapid margin recovery from the prior period baseline. Against the industry peer mean EBIT margin of 5.542% and median 1.203%, Privia’s 2.481% margin sits below the peer mean yet above the peer median.
Per‑share and cash metrics: reported EPS of $0.29 exceeded the $0.22 estimate by $0.07, a surprise ratio of +31.82%. Cash and short‑term investments equal $441.35M with negligible debt (total debt $6.24M), producing a cash ratio of 0.76 and a current ratio of 1.67—liquidity remains a structural strength for operational flexibility.
Valuation multiples show elevated market expectations: trailing P/E equals 82.25x and forward P/E equals 341.31x; price-to-book sits at 4.13x, above the industry peer mean of 3.63265 and well above the peer median of 1.78474. Enterprise multiple and EV/Revenue are elevated (enterprise multiple ~145.34, EVR 4.30), and WMDST classifies the current valuation as over‑valued.
Cash generation: free cash flow equals $51.99M with a free cash flow yield of 1.77%, slightly above the industry peer mean of 1.533% as provided. Free cash flow growth shows mixed signs (free cash growth YoY large negative in supplied label yet quarter figures show pockets of improvement), so cash conversion merits monitoring even though absolute cash balances remain strong.
Returns and leverage: return on equity approximates 0.97% and return on assets 0.52%, both modest while debt-to-equity at 0.88% indicates very low financial leverage. Cost of debt reads as a high nominal figure in supplied labels, but the company’s near-zero debt stock renders interest exposure immaterial.
Valuation summary: improved top-line growth, substantial YoY and QoQ margin expansion, and a large cash balance create a constructive operational profile; however, rich multiples—especially forward P/E—and WMDST’s over‑valued classification imply the market already prices substantial execution and growth expectations.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2025-09-30 |
| REPORT DATE: | 2025-11-06 |
| NEXT REPORT DATE: | 2026-02-05 |
| CASH FLOW | Begin Period Cash Flow | $ 390.1 M |
| Operating Cash Flow | $ 52.0 M | |
| Capital Expenditures | — | |
| Change In Working Capital | $ 13.8 M | |
| Dividends Paid | — | |
| Cash Flow Delta | $ 51.2 M | |
| End Period Cash Flow | $ 441.4 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 580.4 M | |
| Forward Revenue | $ 682.5 M | |
| COSTS | ||
| Cost Of Revenue | $ 516.6 M | |
| Depreciation | $ 165.0 K | |
| Depreciation and Amortization | $ 2.8 M | |
| Research and Development | — | |
| Total Operating Expenses | $ 566.0 M | |
| PROFITABILITY | ||
| Gross Profit | $ 63.8 M | |
| EBITDA | $ 17.2 M | |
| EBIT | $ 14.4 M | |
| Operating Income | $ 14.4 M | |
| Interest Income | $ 2.3 M | |
| Interest Expense | — | |
| Net Interest Income | $ 2.3 M | |
| Income Before Tax | $ 16.7 M | |
| Tax Provision | $ 6.9 M | |
| Tax Rate | 21.0 % | |
| Net Income | $ 6.9 M | |
| Net Income From Continuing Operations | $ 9.8 M | |
| EARNINGS | ||
| EPS Estimate | $ 0.22 | |
| EPS Actual | $ 0.29 | |
| EPS Difference | $ 0.07 | |
| EPS Surprise | 31.818 % | |
| Forward EPS | $ 0.26 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 1.4 B | |
| Intangible Assets | $ 339.8 M | |
| Net Tangible Assets | $ 369.4 M | |
| Total Current Assets | $ 970.9 M | |
| Cash and Short-Term Investments | $ 441.4 M | |
| Cash | $ 441.4 M | |
| Net Receivables | $ 499.0 M | |
| Inventory | — | |
| Long-Term Investments | $ 16.9 M | |
| LIABILITIES | ||
| Accounts Payable | $ 10.2 M | |
| Short-Term Debt | — | |
| Total Current Liabilities | $ 582.9 M | |
| Net Debt | — | |
| Total Debt | $ 6.2 M | |
| Total Liabilities | $ 588.2 M | |
| EQUITY | ||
| Total Equity | $ 709.1 M | |
| Retained Earnings | $ -165.46 M | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 5.77 | |
| Shares Outstanding | 122.868 M | |
| Revenue Per-Share | $ 4.72 | |
| VALUATION | Market Capitalization | $ 2.9 B |
| Enterprise Value | $ 2.5 B | |
| Enterprise Multiple | 145.344 | |
| Enterprise Multiple QoQ | -61.405 % | |
| Enterprise Multiple YoY | -38.381 % | |
| Enterprise Multiple IPRWA | high: 190.244 PRVA: 145.344 median: 48.181 mean: -1.814 low: -219.035 |
|
| EV/R | 4.299 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 1.905 | |
| Asset To Liability | 2.297 | |
| Debt To Capital | 0.009 | |
| Debt To Assets | 0.005 | |
| Debt To Assets QoQ | -11.494 % | |
| Debt To Assets YoY | 105.333 % | |
| Debt To Assets IPRWA | high: 0.956 mean: 0.326 median: 0.309 PRVA: 0.005 low: 0.0 |
|
| Debt To Equity | 0.009 | |
| Debt To Equity QoQ | -9.661 % | |
| Debt To Equity YoY | 109.286 % | |
| Debt To Equity IPRWA | high: 2.466 mean: 1.055 median: 0.879 PRVA: 0.009 low: -1.645 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 4.133 | |
| Price To Book QoQ | 8.018 % | |
| Price To Book YoY | 14.751 % | |
| Price To Book IPRWA | high: 27.592 PRVA: 4.133 mean: 3.633 median: 1.785 low: -9.335 |
|
| Price To Earnings (P/E) | 82.245 | |
| Price To Earnings QoQ | -7.846 % | |
| Price To Earnings YoY | -86.635 % | |
| Price To Earnings IPRWA | high: 517.132 PRVA: 82.245 mean: 78.94 median: 64.535 low: -80.57 |
|
| PE/G Ratio | 3.948 | |
| Price To Sales (P/S) | 5.049 | |
| Price To Sales QoQ | 0.719 % | |
| Price To Sales YoY | -0.152 % | |
| Price To Sales IPRWA | high: 28.774 mean: 6.114 PRVA: 5.049 median: 3.476 low: 0.079 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 341.313 | |
| Forward PE/G | 16.383 | |
| Forward P/S | 17.35 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | 29.172 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.442 | |
| Asset Turnover Ratio QoQ | 4.263 % | |
| Asset Turnover Ratio YoY | 12.313 % | |
| Asset Turnover Ratio IPRWA | high: 0.945 PRVA: 0.442 median: 0.397 mean: 0.332 low: 0.001 |
|
| Receivables Turnover | 1.231 | |
| Receivables Turnover Ratio QoQ | -1.656 % | |
| Receivables Turnover Ratio YoY | 9.487 % | |
| Receivables Turnover Ratio IPRWA | high: 10.974 mean: 4.419 median: 2.904 PRVA: 1.231 low: 0.147 |
|
| Inventory Turnover | — | |
| Inventory Turnover Ratio QoQ | — | |
| Inventory Turnover Ratio YoY | — | |
| Inventory Turnover Ratio IPRWA | — | |
| Days Sales Outstanding (DSO) | 74.129 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | 72.266 | |
| Cash Conversion Cycle Days QoQ | — | |
| Cash Conversion Cycle Days YoY | — | |
| Cash Conversion Cycle Days IPRWA | high: 132.972 PRVA: 72.266 median: 14.524 mean: 10.911 low: -85.326 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 1.496 | |
| CapEx To Revenue | — | |
| CapEx To Depreciation | — | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 709.1 M | |
| Net Invested Capital | $ 709.1 M | |
| Invested Capital | $ 709.1 M | |
| Net Tangible Assets | $ 369.4 M | |
| Net Working Capital | $ 388.0 M | |
| LIQUIDITY | ||
| Cash Ratio | 0.757 | |
| Current Ratio | 1.666 | |
| Current Ratio QoQ | 0.897 % | |
| Current Ratio YoY | -6.457 % | |
| Current Ratio IPRWA | high: 6.656 PRVA: 1.666 mean: 1.25 median: 0.832 low: 0.004 |
|
| Quick Ratio | — | |
| Quick Ratio QoQ | — | |
| Quick Ratio YoY | — | |
| Quick Ratio IPRWA | — | |
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 0.363 | |
| Cost Of Debt | 34939.359 % | |
| Interest Coverage Ratio | 0.005 | |
| Interest Coverage Ratio QoQ | 332.479 % | |
| Interest Coverage Ratio YoY | 148.039 % | |
| Interest Coverage Ratio IPRWA | high: 30.491 mean: 2.005 median: 1.758 PRVA: 0.005 low: -59.14 |
|
| Operating Cash Flow Ratio | -0.076 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 1.863 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | — | |
| Dividend Payout Ratio | — | |
| Dividend Rate | — | |
| Dividend Yield | — | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | 6.164 % | |
| Revenue Growth | 11.372 % | |
| Revenue Growth QoQ | 32.975 % | |
| Revenue Growth YoY | 207.934 % | |
| Revenue Growth IPRWA | high: 14.194 % PRVA: 11.372 % mean: 2.801 % median: 1.992 % low: -22.095 % |
|
| Earnings Growth | 20.833 % | |
| Earnings Growth QoQ | 129.161 % | |
| Earnings Growth YoY | 295.839 % | |
| Earnings Growth IPRWA | high: 131.373 % PRVA: 20.833 % mean: -6.462 % median: -11.602 % low: -234.091 % |
|
| MARGINS | ||
| Gross Margin | 10.987 % | |
| Gross Margin QoQ | 13.961 % | |
| Gross Margin YoY | 6.093 % | |
| Gross Margin IPRWA | high: 87.689 % mean: 28.235 % median: 25.598 % PRVA: 10.987 % low: -9.25 % |
|
| EBIT Margin | 2.481 % | |
| EBIT Margin QoQ | 287.656 % | |
| EBIT Margin YoY | 86.963 % | |
| EBIT Margin IPRWA | high: 32.526 % mean: 5.542 % PRVA: 2.481 % median: 1.203 % low: -43.522 % |
|
| Return On Sales (ROS) | 2.481 % | |
| Return On Sales QoQ | 287.656 % | |
| Return On Sales YoY | 86.963 % | |
| Return On Sales IPRWA | high: 29.872 % mean: 8.105 % median: 5.889 % PRVA: 2.481 % low: -43.781 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 52.0 M | |
| Free Cash Flow Yield | 1.774 % | |
| Free Cash Flow Yield QoQ | 481.639 % | |
| Free Cash Flow Yield YoY | 18.504 % | |
| Free Cash Flow Yield IPRWA | high: 14.006 % PRVA: 1.774 % mean: 1.533 % median: 1.231 % low: -18.788 % |
|
| Free Cash Growth | 552.29 % | |
| Free Cash Growth QoQ | -514.856 % | |
| Free Cash Growth YoY | -14599.606 % | |
| Free Cash Growth IPRWA | high: 558.205 % PRVA: 552.29 % mean: -11.917 % median: -49.804 % low: -423.827 % |
|
| Free Cash To Net Income | 7.578 | |
| Cash Flow Margin | -7.618 % | |
| Cash Flow To Earnings | -6.445 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.63 | |
| Return On Assets (ROA) | 0.523 % | |
| Return On Assets QoQ | 138.813 % | |
| Return On Assets YoY | 64.465 % | |
| Return On Assets IPRWA | high: 7.577 % PRVA: 0.523 % median: 0.355 % mean: 0.324 % low: -22.496 % |
|
| Return On Capital Employed (ROCE) | 1.875 % | |
| Return On Equity (ROE) | 0.01 | |
| Return On Equity QoQ | 146.31 % | |
| Return On Equity YoY | 68.348 % | |
| Return On Equity IPRWA | high: 0.378 mean: 0.015 median: 0.011 PRVA: 0.01 low: -0.391 |
|
| DuPont ROE | 0.986 % | |
| Return On Invested Capital (ROIC) | 1.605 % | |
| Return On Invested Capital QoQ | 315.803 % | |
| Return On Invested Capital YoY | -246.575 % | |
| Return On Invested Capital IPRWA | high: 8.725 % PRVA: 1.605 % median: 0.766 % mean: 0.603 % low: -22.633 % |
|