Performant Healthcare Inc's Competitiveness
A competitive positioning analysis and financial ratio benchmarking of Performant Healthcare Inc (PHLT) against its publicly traded competitors: sales growth, net income, profitability, valuation and market share, plus each peer's market capitalization, revenue, income and employees. Free below: the top 5 peers. Subscriber access adds the full competitor list and CSV downloads.
Key Findings: Performant Healthcare Inc vs Its Competitors
- TTM: Trailing 12-month revenue of 137M vs 28,195M combined for tracked competitors (0.5% combined share).
- Trending: Latest-quarter revenue run-rate is accelerating (+10.1% annualized vs trailing 12 months), vs decelerating (-2.4%) for its tracked peer group.
- Growth: Performant Healthcare Inc generated 28.8% revenue growth year over year in Q2 2025, vs 6.4% for its tracked competitors combined.
- Profitability: Its 5.5% net margin compares with 9.6% for the peer group.
- Peer revenue share: Performant Healthcare Inc accounted for 0.6% of combined revenue among its tracked peer group, up from 0.5% a year earlier.
Every figure above is sourced and cited in detail further down this page (Market Structure, Profitability & Cost Structure, Productivity vs Peers).
PHLT Sales vs. its Competitors, Q2 2025
Performant Healthcare Inc reported revenue growth of 28.75 % year on year in Q2 2025, above its competitors' combined revenue growth of 6.39 %.
With a net margin of 5.50 %, Performant Healthcare Inc reported lower profitability than its competitors (9.58 %).
Performant Healthcare Inc generated 0.55 % of the combined sales of its peer group, up from 0.45 % a year earlier.
Performant Healthcare Inc vs. its Competitors, Q2 2025
Revenue growth, year on year
Net margin
Revenue run-rate vs trailing 12 months
TTM net margin
TTM = trailing twelve months. Run-rate annualizes the latest quarter (×4) and compares it to TTM. In millions of $. High-Confidence Competitors are named as a competitor directly in an SEC filing; Similar-Size Competitors are the closest peers by market-cap rank within the same industry; Similar Growth & Profitability Competitors are the closest peers by combined revenue growth, operating margin and ROIC, all independent of the competitor list.
TTM revenue, latest-quarter run-rate and net income/margin benchmarked across Performant Healthcare Inc and its 4 competitor groupings. Available under Commercial License.
| Entity | TTM Revenue | Rev Run-rate vs TTM |
|---|---|---|
| Performant Healthcare Inc | $12,345M | +12.3% · Accelerating |
| Competitors combined | $12,345M | +12.3% · Accelerating |
| Similar Growth & Profitability (6) | $12,345M | +12.3% · Accelerating |
TTM revenue, run-rate and net margin benchmarking across Performant Healthcare Inc's competitor groups requires a Commercial License.
For context: the Professional Services industry grew revenue 6.8% year over year, combined, vs 28.8% for Performant Healthcare Inc. Performant Healthcare Inc's share of combined industry revenue moved from 0.01% to 0.01%, a gain of 0.00 percentage points.
Performant Healthcare Inc's Competitor Quality Breadth
Share of each group, trailing 12 months: profitable (net margin > 0), expanding (revenue growth > 0), growing faster than the industry's own median, and financially distressed (Piotroski F-Score of 2 or below).
| Entity | Profitable | Expanding | Above Industry Growth | Distressed |
|---|---|---|---|---|
| Performant Healthcare Inc | No | Yes | Yes | No |
| Competitors combined (5) | ||||
| Similar Growth & Profitability (8) | 75.00 % (6 of 8) | 100.00 % (8 of 8) | 100.00 % (8 of 8) | 0.00 % (0 of 7) |
Source: CSIMarket API, trailing 12 months. Altman Z-Score is not shown here: it is not populated in the underlying data for any company. Percentages are of companies in each group that report the relevant metric, not of the full group size.
PHLT Stock Performance relative to its Competitors
PHLT Stock Performance relative to High-Confidence Competitors
PHLT Stock Performance relative to Similar Growth & Profitability Competitors
5 Best-Performing Tracked Competitors, Trailing 12 Months
| # | Competitor | TTM Share Price Return | vs U.S.A. 500 |
|---|---|---|---|
| 1 | Nasdaq Inc | 282.9% | Outperformed |
| 2 | Exlservice Holdings Inc | 282.9% | Outperformed |
| 3 | Maximus Inc | 282.9% | Outperformed |
| 4 | Concentrix Corporation | 282.9% | Outperformed |
| 5 | Ttec Holdings Inc | 282.9% | Outperformed |
TTM share price return and U.S.A. 500 outperformance for Performant Healthcare Inc's best-performing tracked competitors requires a Commercial License.
Source: CSIMarket API, trailing 12 months.
Performant Healthcare Inc's Comment on Competition and Industry Peers
Publicly Traded Peers of Performant Healthcare Inc
Revenue and income for trailing 12 months, in millions of $, except employees| Company | Market Cap | Revenues |
|---|---|---|
| Performant Healthcare Inc | 625.66 | 137.36 |
| Nasdaq Inc | 53,096.00 | 8,751.00 |
| Exlservice Holdings Inc | 5,381.03 | 2,156.84 |
| Maximus Inc | 2,733.23 | 5,248.46 |
| Concentrix Corporation | 1,473.47 | 9,998.09 |
| Ttec Holdings Inc | 60.36 | 2,040.77 |
| SUBTOTAL | 63,369.75 | 28,332.52 |
Sources: Performant Healthcare Inc's official press releases and regulatory filings; CSIMarket.com's market research; and the financial filings and press releases of the other companies cited.
Updated on:
Focus of this report: publicly traded companies. Ten additional tables on Performant Healthcare Inc versus competitors, including market share analysis, are in the navigation menu under Competition. To download the tables, please subscribe.
Performant Healthcare Inc's Competitors Named by the Company
Competitive relationships identified from SEC filings and corroborating sources, each with a basis and confidence.| Competitor | Basis | Confidence |
|---|---|---|
| Cotiviti, Inc. | Named by the company | 85% |
| HMS Holdings | Named by the company | 85% |
| Gainwell Technologies LLC | Named by the company | 85% |
| Health Management Systems, Inc. | Named by the company | 85% |
| Nasdaq Inc | Named by the company | 85% |
Filing basis, confidence, active dates and source counts for Performant Healthcare Inc's named competitors require a Commercial License.
Methodology: relationships are extracted from SEC filings (named-competitor disclosures) and corroborating sources. Named by the company = explicitly disclosed as a competitor; Inferred = derived from corroborating signals. Confidence reflects evidence strength.
Performant Healthcare Inc's Business Segment Mix vs Peers
Revenue by operating segment or division, as named and reported by each company. Segment names are the filer's own and are not standardized across companies. Do not assume a same-named or similarly-named segment is defined identically between two companies. Shares are of each company's own total revenue and are not required to sum to 100% (intersegment revenue, unallocated items).| Company | Largest Segment |
|---|---|
| Nasdaq Inc | Market Services 54.19 % |
| Exlservice Holdings Inc | Insurance 39.52 % |
| Maximus Inc | U.S. Federal Services 57.70 % |
| Concentrix Corporation | Reportable 100.00 % |
| Ttec Holdings Inc | TTEC Engage 77.16 % |
Source: operating segment revenue as reported in each company's SEC filings (10-K/10-Q), via the CSIMarket API, leaf-level reportable segments only (parent roll-up segments are excluded where sub-segments are separately disclosed).
Performant Healthcare Inc's Productivity vs Peers Comparison
Revenue and income per employee, trailing 12 months, in $; market cap in millions of $| Company | Market Cap | Revenue / Employee | Income / Employee |
|---|---|---|---|
| Performant Healthcare Inc | 626 | - | - |
| Nasdaq Inc | 53,096 | 340,784 | 76,561 |
| Exlservice Holdings Inc | 5,381 | 33,182 | 3,870 |
| Maximus Inc | 2,733 | 141,088 | 9,970 |
| Concentrix Corporation | 1,473 | 21,974 | -2,889 |
| Ttec Holdings Inc | 60 | 45,451 | -4,449 |
| PEERS TOTAL | 62,744 | 44,913 | 1,711 |
Performant Healthcare Inc's Geographic Revenue Exposure vs Peers
Revenue by country/region as reported in each company's most recent filing. Disclosure granularity varies by filer (some report by country, others by broad region) and is shown as disclosed.| Company | Largest Market |
|---|---|
| Nasdaq Inc | United States 75.24 % |
| Exlservice Holdings Inc | North America 82.23 % |
| Ttec Holdings Inc | United States Canada 61.00 % |
Source: revenue geography as reported in each company's SEC filings (10-K/10-Q), via the CSIMarket API. Percentages are of that company's own total consolidated revenue for its most recent reported period.
Performant Healthcare Inc's Position in Industry Market Structure
Market-capitalization share and concentration across all 155 companies in Performant Healthcare Inc's industry classification, broader than the peer set above. Market cap in millions of $.Performant Healthcare Inc ranks #0 of 155 companies by market capitalization in its industry, holding 0.00 % of total industry market cap. The industry's Herfindahl-Hirschman Index (HHI) is 1,026, indicating a unconcentrated market structure (U.S. antitrust guidance: below 1,500 unconcentrated, 1,500 to 2,500 moderately concentrated, above 2,500 highly concentrated).
| Rank | Company | Market Cap | Industry Share |
|---|---|---|---|
| 1 | Visa Inc | 704,590 | 22.57 % |
| 2 | Mastercard Incorporated | 501,774 | 16.07 % |
| 3 | Repay Holdings Corporation | 312,320 | 10.00 % |
| 4 | Alibaba Group Holding Limited | 252,525 | 8.09 % |
| 5 | Uber Technologies Inc | 1,234 | 5.2% |
| 6 | Accenture Plc | 1,234 | 5.2% |
| 7 | Pdd Holdings inc | 1,234 | 5.2% |
| 8 | Orix Corporation | 1,234 | 5.2% |
| 9 | Mercadolibre Inc | 1,234 | 5.2% |
| 10 | Uxin Limited | 1,234 | 5.2% |
| 0 | Performant Healthcare Inc | 626 | 0.00 % |
Market cap and industry share for the rest of Performant Healthcare Inc's industry peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation) across CSIMarket's industry classification, market capitalization as of 2025-10-20.
Performant Healthcare Inc's Profitability & Cost Structure
Trailing 12-month margins from SEC-filed financials. Operating margin is compared to the Professional Services industry median; gross margin, EBITDA margin and capital intensity are compared to the live industry average (230 companies). See the full Professional Services industry profitability benchmarks.| Metric | Company | Industry | Difference |
|---|---|---|---|
| Gross Margin | 100.00 % | 47.17 % (avg) | +52.8 pp |
| Operating Margin | -0.03 % | industry median | -4.4 pp |
| EBITDA Margin | 4.18 % | 5.74 % (avg) | -1.6 pp |
| Capital Intensity (Capex / Revenue) | 3.82 % | 4.25 % (avg) | -0.4 pp |
Source: CSIMarket API, trailing 12 months. SG&A and R&D as a share of revenue have limited coverage as this data is backfilled and appear only where reported. Higher capital intensity is not inherently negative; it reflects the industry's asset requirements.
Performant Healthcare Inc's Valuation vs Competitive Position
Valuation multiples vs the Professional Services industry average (230 companies, excluding loss-making/negative-equity outliers), alongside returns on capital for context on whether a premium or discount lines up with measurably stronger or weaker returns. See the full Professional Services industry valuation benchmarks.| Metric | Company | Industry Average | Difference |
|---|---|---|---|
| P/E | - | 25.6x | - |
| EV / EBITDA | 46.5x | 15.4x | +31.2x |
| P/B | 3.4x | 3.7x | -0.2x |
| Return on Equity | -1.13 % | industry aggregate | -29.86 % |
| Return on Invested Capital | -0.03 % | 5.25 % (avg) | -5.28 % |
Source: CSIMarket API, trailing 12 months. A valuation premium or discount is not, by itself, a judgment of over- or under-valuation. Compare it against the return and growth context shown elsewhere on this page.
Performant Healthcare Inc's Multi-Year Financial Trajectory
Fiscal-year revenue growth, operating margin, return on invested capital and P/E, as reported in SEC filings.| Metric | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2023 | 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue Growth | - | -6.59 % | 17.89 % | -3.36 % | 3.66 % | -20.23 % | 4.18 % | 8.12 % |
| Operating Margin | -5.61 % | -5.37 % | -1.15 % | -13.06 % | -8.96 % | -1.06 % | -5.39 % | -7.72 % |
| Return on Invested Capital | -3.23 % | -3.47 % | -0.85 % | -10.70 % | -12.21 % | -0.92 % | -3.64 % | -5.78 % |
| P/E | - | - | - | - | - | - | - | - |
Source: CSIMarket API, fiscal-year figures. P/E is this company's own historical ratio at each fiscal year end and can swing sharply around an earnings trough: that is real, not a data error.
Performant Healthcare Inc's Strategic Group Map
Every company in Performant Healthcare Inc's industry and named-competitor list, plotted by trailing 12-month revenue growth and operating margin. Performant Healthcare Inc is shown in red; its closest peers by combined growth, margin and ROIC (the Similar Growth & Profitability group above) are labeled.
Source: CSIMarket API, trailing 12 months. Extreme outlier values (from near-zero-revenue companies) are excluded from the plotted cloud but never from the highlighted company or its labeled peers.
Performant Healthcare Inc's Competitive Forces (Porter's Five Forces)
Only the forces this data can support honestly are shown; the other three are marked as such rather than guessed.| Force | Assessment | Basis |
|---|---|---|
| Competitive Rivalry | High | Industry HHI of 1,026 (see Industry Market Structure & Concentration above) |
| Barriers to Entry | Moderate, in line with the industry | Capital intensity (capex / revenue) of 3.82 % vs industry average 4.25 % (see Profitability & Cost Structure above) |
| Supplier Power | Not covered on this page | See Performant Healthcare Inc's dedicated suppliers page for concentration and dependency data |
| Buyer Power | Not covered on this page | See Performant Healthcare Inc's dedicated customers page for concentration and dependency data |
| Threat of Substitutes | - | No systematic data source for cross-product substitution exists in this system; not estimated |
Note: this is a partial, data-grounded application of the framework, not a complete strategic assessment. Rivalry and barriers-to-entry readings are mechanical translations of the HHI and capital-intensity figures shown elsewhere on this page, not independent judgments.
Performant Healthcare Inc's Industry Attractiveness & Competitive Strength
A CSIMarket composite, not a standard field: each axis is an equal-weighted average of three factors already shown elsewhere on this page (industry growth, industry profitability and rivalry for attractiveness; relative market share, profitability and growth vs industry for strength). Disclosed as a designed methodology, not a precision measurement.
Performant Healthcare Inc falls in the Low attractiveness / High strength cell: Selective.
Source: CSIMarket API, trailing 12 months. Each axis score is a simple 1(low)/2(medium)/3(high) average across its three inputs -- a transparent, disclosed simplification, not a validated academic scoring model.
Performant Healthcare Inc's SWOT
Every point below is a fixed rule applied to a metric already shown elsewhere on this page (Market Structure, Profitability, Valuation, Run-Rate, Stock Performance, Quality Breadth) not an independent strategic assessment. A blank quadrant means no rule was met, not that none apply.Strengths
- Latest-quarter revenue run-rate is accelerating (+10.1% annualized vs trailing 12 months).
Weaknesses
- Return on equity 29.9 points below the industry aggregate.
Opportunities
No rule matched.
Threats
- Tracked peer group's revenue run-rate is broadly decelerating (-2.4% annualized).
Methodology: mechanical, rule-based SWOT. Each bullet reuses a figure already sourced and cited elsewhere on this page; nothing here is generated narrative or independent analyst judgment.
Performant Healthcare Inc's Financial Strength vs Peers Comparison
Quick ratio, working capital, debt to equity and asset turnover, trailing 12 months| Company | Quick Ratio | Working Capital | Debt / Equity |
|---|---|---|---|
| Performant Healthcare Inc | 0.58 | 2.65 | 0.10 |
| Nasdaq Inc | 0.11 | 1.11 | 0.74 |
| Exlservice Holdings Inc | 0.50 | 2.81 | 0.36 |
| Maximus Inc | 0.23 | 1.96 | 0.90 |
| Concentrix Corporation | 0.12 | 1.31 | 1.50 |
| Ttec Holdings Inc | 0.25 | 1.88 | 6.02 |
Quick ratio = cash / current liabilities; working capital ratio = current assets / current liabilities; asset turnover = revenue / total assets. Peers in the Blank Checks industry are excluded.
Performant Healthcare Inc's Revenue and Income Growth vs Peers
Quarterly revenue and net income growth, year over year and quarter over quarter| Company | Period | Revenue Y/Y | Income Y/Y |
|---|---|---|---|
| Performant Healthcare Inc | Q2 2025 | +28.7 % | - |
| Nasdaq Inc | Q2 2026 | +21.1 % | +12.2 % |
| Exlservice Holdings Inc | Q1 2026 | +13.9 % | +0.8 % |
| Maximus Inc | Q2 2026 | -5.1 % | -2.3 % |
| Concentrix Corporation | Q2 2026 | +1.9 % | +31.3 % |
| Ttec Holdings Inc | Q2 2026 | -11.3 % | - |
| PEERS TOTAL | +6.4 % | +9.9 % |
Growth is shown only where both periods are positive. Peers in the Blank Checks industry are excluded.
Performant Healthcare Inc's Peers' Costs of Sales and Capital Expenditures
Context for revenue growth: peer costs and capex, year over year and quarter over quarter| Company | Period | Costs Y/Y | Capex Y/Y |
|---|---|---|---|
| Performant Healthcare Inc | Q2 2025 | - | +51.2 % |
| Nasdaq Inc | Q2 2026 | +29.8 % | +30.5 % |
| Exlservice Holdings Inc | Q1 2026 | +13.4 % | -0.1 % |
| Maximus Inc | Q2 2026 | -5.9 % | -22.6 % |
| Concentrix Corporation | Q2 2026 | +4.5 % | -13.7 % |
| Ttec Holdings Inc | Q2 2026 | -10.4 % | +76.0 % |
Performant Healthcare Inc's Returns and Turnover vs Peers
ROA, ROI and ROE (trailing 12 months), receivables and inventory turnover| Company | ROA | ROI | ROE |
|---|---|---|---|
| Performant Healthcare Inc | - | - | - |
| Nasdaq Inc | 6.76% | 7.29% | 16.28% |
| Exlservice Holdings Inc | 14.75% | 16.98% | 27.16% |
| Maximus Inc | 8.86% | 10.36% | 21.86% |
| Concentrix Corporation | - | - | - |
| Ttec Holdings Inc | - | - | - |
ROA = net income / total assets; ROI = net income / investments; ROE = net income / equity; turnover ratios use trailing 12 month revenue (receivables) and cost of sales (inventory).
Performant Healthcare Inc's Valuation vs Peers
P/E, price to sales, PEG, price to cash flow and price to book| Company | P/E | Price / Sales |
|---|---|---|
| Performant Healthcare Inc | - | 4.55 |
| Nasdaq Inc | 27.28 | 6.07 |
| Exlservice Holdings Inc | 21.98 | 2.49 |
| Maximus Inc | 7.63 | 0.52 |
| Concentrix Corporation | - | 0.15 |
| Ttec Holdings Inc | - | 0.03 |
| PEERS AVERAGE | 59.04 | 2.24 |
P/E = price / diluted EPS (trailing 12 months); PEG = P/E divided by EPS growth; the average row divides the peers' combined market cap by their combined income, sales, cash flow and equity.