Veradigm

MDRX

Medical - Healthcare Information Services · Healthcare

Price

$4.90

+0.10 (+2.08%)

Market Cap

$832.2M

Exchange

Other OTC

Winston Score

Winston is serious

Mixed quality — meaningful strengths and weaknesses.

Data as of Aug 9, 2026 · filings through Sep 30, 2022

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)

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.

Winston Score History

Score breakdown

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Quality

Gross Margin

54.9%

Healthy — 54.9% gross margin

Operating Margin

16.5%

Healthy — 16.5% operating margin

ROCE

1.8%

Weak — 1.8% 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 YoY

-39.7%

Shrinking sales (-39.7% YoY)

EPS YoY

-78.5%

Earnings shrinking (-78.5% YoY)

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

EPS Consistency

5/8 quarters

Mixed — about half the quarters showed growth

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Cash Flow

Cash Conversion

208%

Turns 208% of profit into real cash

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

Debt / Equity

0.18

Conservative — low debt load (0.18)

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

P/E Ratio (TTM)

4.6x

Attractive valuation — P/E 4.6

P/E under 10. The price tag is small relative to last year's profit.

P/E vs Forward

-4.4

SLOWING

Earnings expected to fall — forward P/E higher than today

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Dividends

Not applicable for this business.

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