Privia Health Group, Inc. (PRVA) stock analysis
Close on Nov 11, 2026Market cap $3.07BP/E 92.5Yield –
StockData Score
Prices as of Nov 11, 2026How the score works
Solid15 of 30 checks passed
Privia Health passes 15 of the 30 checks behind our score; 7 could not be run for lack of data and count as not passed. Each dot in the shape is one check — hover it for the numbers.
- Valuation
- 2/6
- Growth
- 3/6
- Past performance
- 4/6
- Financial health
- 6/6
- Dividend
- 0/6
What stands out
Return on capital over 10%
Return on invested capital was 10.0%, above the 10% that usually covers the cost of capital.
No debt
Privia Health has no borrowings on its latest balance sheet.
Revenue growing 10%+ a year
Revenue grew 16.1% a year over the last three fiscal years.
Earnings growth accelerating
Net income grew 91.3% over the last twelve months, against a 5-year average of -6.0% a year.
What to watch
Margin of safety under 20%
The price is 56.0% above fair value, so there is no margin of safety.
Trading above fair value
The share price of $24.04 is above our fair value estimate of $15.41.
Return on equity under 15%
Return on equity was 4.6% over the last twelve months and averaged -11.5% over five years; we look for 15% on both.
Earnings shrank over 5 years
Net income shrank 6.0% a year on average over the last five fiscal years.
Valuation2/6
P/E below its 5-year median
Privia Health's P/E of 92.5 is below its own 5-year median of 155.5.
P/E above the industry
Privia Health's P/E of 92.5 is above the Health Services median of 23.9.
EV/EBITDA below its 5-year median
Privia Health's EV/EBITDA of 42.0 is below its 5-year median of 81.2.
P/B above the industry
Privia Health's price-to-book of 3.76 is above the Health Services median of 3.52.
Trading above fair value
The share price of $24.04 is above our fair value estimate of $15.41.
Margin of safety under 20%
The price is 56.0% above fair value, so there is no margin of safety.
Growth3/6
Revenue growing 10%+ a year
Revenue grew 16.1% a year over the last three fiscal years.
EPS growth over 3 years
Needs positive EPS three years ago and today.
Earnings growth accelerating
Net income grew 91.3% over the last twelve months, against a 5-year average of -6.0% a year.
Growing faster than the industry
Revenue grew 19.2% over the last twelve months; the Health Services median is 17.6%.
Guidance lowered
Privia Health lowered its full-year 2026 Platform Contribution outlook on May 7, 2026.
Gross margin trend
This company does not report gross profit.
Past performance4/6
Return on equity under 15%
Return on equity was 4.6% over the last twelve months and averaged -11.5% over five years; we look for 15% on both.
Return on capital over 10%
Return on invested capital was 10.0%, above the 10% that usually covers the cost of capital.
Return on equity above the industry
Privia Health's return on equity of 4.6% is above the Health Services median of -1.1%.
Earnings shrank over 5 years
Net income shrank 6.0% a year on average over the last five fiscal years.
Net margin above its 5-year average
Net margin was 1.4% over the last twelve months, against a 5-year average of -3.4%.
Net margin above the industry
Privia Health's net margin of 1.4% is above the Health Services median of -13.7%.
Financial health6/6
No debt
Privia Health has no borrowings on its latest balance sheet.
Debt not rising
With no debt today, leverage cannot have risen.
Debt covered by cash flow
There is no debt to cover.
Interest well covered
No meaningful interest expense to cover.
Short-term assets cover short-term debts
Current assets are 1.63 times current liabilities.
Low bankruptcy risk
The Altman Z-score is 4.54; above 3 is the safe zone and below 1.8 the distress zone.
Dividend0/6
No dividend
Privia Health has not paid a dividend in the last twelve months.
Yield against Treasuries
No dividend.
Yield against the market
No dividend.
Dividend stability
No dividend.
Earnings cover
No dividend.
Cash-flow cover
No dividend.
Fair value
How we estimate itOur estimate per share
$15.41
The share price is 56% above this estimate.
| Method | Multiple used | Own 5Y median | Industry median | Value per share | Weight |
|---|---|---|---|---|---|
| P/E | 45.0× | 155.5× | 23.9× | $11.70 | 40% |
| EV/EBITDA | 30.0× | 81.2× | 16.2× | $18.48 | 35% |
| P/B | 4.0× | 4.5× | 3.5× | $25.61 | 10% |
| Earnings power | 8.2% cost of equity | – | – | $11.31 | 15% |
| Fair value | $15.41 | 100% | |||
Valuation over time
Using the earnings and balance sheet published at each date, not today's.
- P/E at month end
- Own 5-year median 156
- Health Services median 23.9
An estimate from reported numbers and market multiples, not a price target or investment advice. It can be far off for companies whose profits are about to change sharply.
Market risk
From the past year of daily prices.
Liquidity
Low risk
- Average value traded per day
- $30.15M
- Value traded per 1% price move
- $20.68M
Downside
Medium risk
- Typical loss in a bad month
- 19.5%
- Volatility (annualized)
- 33%
- Sharpe ratio, 1 year
- -0.05
- Beta to the S&P 500 (5Y)
- 0.65
Typical bad-month loss, week by week
Margins
Share of revenue, fiscal years 2018 to 2025
Operating margin
Net margin
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +22.3% | +16.1% | +21.0% | – | |
| Operating income | +101.6% | – | +6.2% | – | |
| Net income | +59.3% | – | -6.0% | – | |
| EPS, diluted | +63.6% | – | -11.4% | – |
Returns and balance sheet
8 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2018 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | – | – | 3.3% | |
| Return on assets | – | – | 1.8% | |
| Current ratio | – | 1.29 | 1.60 | |
| Debt to equity | – | 0.22 | – | |
| Net debt to EBITDA | – | -1.90× | – | |
| Interest coverage | – | 13.4× | – | |
| Capex to revenue | – | 0.0% | – | |
| Diluted shares | – | 96M | 129M |
Cash use needs five years of cash flow figures
Privia Health does not report operating cash flow and capital expenditure for each of the last five fiscal years.
DuPont analysis
Return on equity split into margin, efficiency and leverage
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 1.1% | 1.69× | 1.83× | 3.3% |
| FY2024 | 0.8% | 1.63× | 1.78× | 2.4% |
| FY2023 | 1.4% | 1.85× | 1.69× | 4.4% |
| FY2022 | -0.6% | 1.83× | 1.60× | -1.9% |
| FY2021 | -19.5% | 1.90× | 1.77× | -65.6% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
- ProfitableNet income above zero$22.92M
- Cash generatingOperating cash flow above zero$163.40M
- Return on assets improvedROA up on the prior year1.4% → 2.0%
- Earnings backed by cashOperating cash flow above net income$163.40M vs $22.92M
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose1.86 → 1.60
- No dilutionShare count did not rise126M → 129M
- Gross margin improvedGross margin up on the prior year– → –
- More efficientAsset turnover rose1.74 → 1.87
See a number that looks wrong?