BTSG vs HNGE: BrightSpring Health Services and Hinge Health compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- BrightSpring Health Services is the larger company, worth $12.7B, about 1.6 times Hinge Health.
- Hinge Health grew revenue faster over the last year (+53.0% vs +23.1%).
- Hinge Health keeps more of each dollar of revenue as operating profit (13.0% vs 3.1%).
- Hinge Health's price assumes faster free cash flow growth: about 17% a year, against 11% for BrightSpring Health Services (reverse DCF).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | BTSG | HNGE |
|---|---|---|
| Market cap | $12.7B | $8.1B |
| Share price | $63.74 | $102.90 |
| Revenue (last fiscal year) | $12.9B | $588M |
| Free cash flow (last fiscal year) | $395M | $165M |
| Revenue growth, last year | +23.1% | +53.0% |
| Revenue growth per year, last 5 fiscal years | +18.7% | +41.7% |
| Operating margin | 3.1% | 13.0% |
| Net margin | 2.5% | 15.2% |
| Return on equity | 17.9% | 31.7% |
| P/E (trailing) | 84.8x | — |
| Price / free cash flow | 32.1x | 47.2x |
| EV / EBITDA | 22.8x | 68.7x |
| FCF growth the price implies | 11.2% | 16.7% |
| Dividend yield | — | — |
| Debt / equity | 1.92x | 1.40x |
| Fundamental grade | C | C |
| Superinvestors holding it | 4 | 4 |
| Insider purchases, last 12 months | 0 | 0 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
BrightSpring Health Services
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2022 | $7.7B | -$75M | 2.4% |
| 2023 | $7.7B | $137M | 0.76% |
| 2024 | $10.1B | -$57M | 1.1% |
| 2025 | $12.9B | $395M | 2.3% |
Hinge Health
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2023 | $293M | -$69M | -44.6% |
| 2024 | $390M | $45M | -8.2% |
| 2025 | $588M | $165M | -92.9% |
Where the revenue comes from
BrightSpring Health Services · by segments, 2025
Pharmacy Solutions$11.4B89%
Provider Services$1.5B11%
Hinge Health
No segment breakdown reported.
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open BTSG in InvestinglyQuestions
Which is bigger, BrightSpring Health Services or Hinge Health?
BrightSpring Health Services (BTSG), at $12.7B against $8.1B.
Which grows faster, BTSG or HNGE?
Hinge Health: revenue grew +53.0% over the last year, against +23.1%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.