(HQY) HealthEquity - Overview

Sector: Healthcare | Industry: Health Information Services | Exchange: NASDAQ (USA) | Market Cap: 7.049m USD | Total Return: -4.2% in 12m

Stock Health Savings, Investment Platform, Spending Accounts, Commuter Benefits
Total Rating 45
Risk 74
Buy Signal 0.04
Health Information Services +7.4
Managed Health Care +7.2
Market Cap: 7,049m
Avg Trading Vol: 75.6M USD
ATR: 3.52%
Peers RS (IBD): 41.8
Risk 5d forecast
Volatility33.1%
Rel. Tail Risk-4.05%
Reward TTM
Sharpe Ratio-0.08
Alpha-16.78
Character TTM
Beta0.611
Beta Downside1.565
Drawdowns 3y
Max DD36.07%
CAGR/Max DD0.40
EPS (Earnings per Share) EPS (Earnings per Share) of HQY over the last years for every Quarter: "2021-01": 0.42, "2021-04": 0.38, "2021-07": 0.4, "2021-10": 0.35, "2022-01": 0.2, "2022-04": 0.27, "2022-07": 0.33, "2022-10": 0.38, "2023-01": 0.37, "2023-04": 0.5, "2023-07": 0.53, "2023-10": 0.6, "2024-01": 0.63, "2024-04": 0.8, "2024-07": 0.86, "2024-10": 0.78, "2025-01": 0.69, "2025-04": 0.97, "2025-07": 1.08, "2025-10": 1.01, "2026-01": 0.95,
EPS CAGR: 39.86%
EPS Trend: 95.2%
Last SUE: 0.77
Qual. Beats: 0
Revenue Revenue of HQY over the last years for every Quarter: 2021-01: 188.169, 2021-04: 184.202, 2021-07: 189.103, 2021-10: 179.954, 2022-01: 203.297, 2022-04: 205.679, 2022-07: 206.142, 2022-10: 216.086, 2023-01: 233.841, 2023-04: 244.432, 2023-07: 243.549, 2023-10: 249.219, 2024-01: 262.387, 2024-04: 287.597, 2024-07: 299.928, 2024-10: 300.432, 2025-01: 311.817, 2025-04: 330.844, 2025-07: 325.835, 2025-10: 322.164, 2026-01: 334.586,
Rev. CAGR: 13.85%
Rev. Trend: 98.0%
Last SUE: 0.43
Qual. Beats: 0
Description: HQY HealthEquity

HealthEquity, Inc. (HQY) offers technology-driven health financial services in the United States. The company specializes in health savings accounts (HSAs), a tax-advantaged savings account used for healthcare expenses, and other pre-tax benefit accounts like flexible spending accounts (FSAs) and health reimbursement arrangements (HRAs).

In addition to account administration, HQY provides an investment platform and automated investment advisory services. The company distributes its services through a direct sales force and a network of partners, including health plans and benefit administrators. This business model is common in the managed healthcare sector, which focuses on controlling healthcare costs and improving patient outcomes through various programs and services. Further research on ValueRay can provide deeper insights into HQYs market position and financial performance.

Headlines to Watch Out For
  • HSA adoption rates drive service revenue growth
  • Interest rate changes impact custodial cash earnings
  • Regulatory shifts for HSAs affect product demand
  • Employer adoption of benefit platforms expands market
Piotroski VR‑10 (Strict) 7.0
Net Income: 215.2m TTM > 0 and > 6% of Revenue
FCF/TA: 0.13 > 0.02 and ΔFCF/TA 17.60 > 1.0
NWC/Revenue: 27.06% < 20% (prev 26.79%; Δ 0.27% < -1%)
CFO/TA 0.13 > 3% & CFO 457.1m > Net Income 215.2m
Net Debt (682.6m) to EBITDA (322.5m): 2.12 < 3
Current Ratio: 3.27 > 1.5 & < 3
Outstanding Shares: last quarter (87.5m) vs 12m ago -1.29% < -2%
Gross Margin: 69.52% > 18% (prev 0.58%; Δ 6.89k% > 0.5%)
Asset Turnover: 38.18% > 50% (prev 34.79%; Δ 3.39% > 0%)
Interest Coverage Ratio: 5.64 > 6 (EBITDA TTM 322.5m / Interest Expense TTM 57.1m)
Altman Z'' 1.65
A: 0.10 (Total Current Assets 512.3m - Total Current Liabilities 156.8m) / Total Assets 3.43b
B: 0.06 (Retained Earnings 195.9m / Total Assets 3.43b)
C: 0.09 (EBIT TTM 322.5m / Avg Total Assets 3.44b)
D: 0.14 (Book Value of Equity 190.2m / Total Liabilities 1.32b)
Altman-Z'' Score: 1.65 = BB
Beneish M -3.23
DSRI: 0.96 (Receivables 123.7m/118.0m, Revenue 1.31b/1.20b)
GMI: 0.83 (GM 69.52% / 57.73%)
AQI: 0.99 (AQ_t 0.84 / AQ_t-1 0.85)
SGI: 1.09 (Revenue 1.31b / 1.20b)
TATA: -0.07 (NI 215.2m - CFO 457.1m) / TA 3.43b)
Beneish M-Score: -3.23 (Cap -4..+1) = AA
What is the price of HQY shares? As of April 02, 2026, the stock is trading at USD 83.57 with a total of 901,152 shares traded.
Over the past week, the price has changed by +1.10%, over one month by +6.99%, over three months by -8.44% and over the past year by -4.22%.
Is HQY a buy, sell or hold? HealthEquity has received a consensus analysts rating of 4.57. Therefore, it is recommended to buy HQY.
  • StrongBuy: 9
  • Buy: 4
  • Hold: 1
  • Sell: 0
  • StrongSell: 0
What are the forecasts/targets for the HQY price?
Wallstreet Target Price 111.6 33.6%
Analysts Target Price 111.6 33.6%
HQY Fundamental Data Overview as of 30 March 2026
P/E Trailing = 33.5407
P/E Forward = 17.8571
P/S = 5.3671
P/B = 3.3079
P/EG = 0.893
Revenue TTM = 1.31b USD
EBIT TTM = 322.5m USD
EBITDA TTM = 322.5m USD
Long Term Debt = 957.4m USD (from longTermDebt, last quarter)
Short Term Debt = 9.91m USD (from shortTermDebt, last quarter)
Debt = 1.00b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 682.6m USD (from netDebt column, last quarter)
Enterprise Value = 7.73b USD (7.05b + Debt 1.00b - CCE 318.9m)
Interest Coverage Ratio = 5.64 (Ebit TTM 322.5m / Interest Expense TTM 57.1m)
EV/FCF = 17.61x (Enterprise Value 7.73b / FCF TTM 439.1m)
FCF Yield = 5.68% (FCF TTM 439.1m / Enterprise Value 7.73b)
FCF Margin = 33.43% (FCF TTM 439.1m / Revenue TTM 1.31b)
Net Margin = 16.38% (Net Income TTM 215.2m / Revenue TTM 1.31b)
Gross Margin = 69.52% ((Revenue TTM 1.31b - Cost of Revenue TTM 400.3m) / Revenue TTM)
Gross Margin QoQ = 92.40% (prev 62.41%)
Tobins Q-Ratio = 2.25 (Enterprise Value 7.73b / Total Assets 3.43b)
Interest Expense / Debt = 1.32% (Interest Expense 13.3m / Debt 1.00b)
Taxrate = 18.32% (11.2m / 60.9m)
NOPAT = 263.4m (EBIT 322.5m * (1 - 18.32%))
Current Ratio = 3.27 (Total Current Assets 512.3m / Total Current Liabilities 156.8m)
Debt / Equity = 0.48 (Debt 1.00b / totalStockholderEquity, last quarter 2.11b)
Debt / EBITDA = 2.12 (Net Debt 682.6m / EBITDA 322.5m)
Debt / FCF = 1.55 (Net Debt 682.6m / FCF TTM 439.1m)
Total Stockholder Equity = 2.13b (last 4 quarters mean from totalStockholderEquity)
RoA = 6.26% (Net Income 215.2m / Total Assets 3.43b)
RoE = 10.11% (Net Income TTM 215.2m / Total Stockholder Equity 2.13b)
RoCE = 10.45% (EBIT 322.5m / Capital Employed (Equity 2.13b + L.T.Debt 957.4m))
RoIC = 8.42% (NOPAT 263.4m / Invested Capital 3.13b)
WACC = 7.25% (E(7.05b)/V(8.05b) * Re(8.13%) + D(1.00b)/V(8.05b) * Rd(1.32%) * (1-Tc(0.18)))
Discount Rate = 8.13% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: -33.33 | Cagr: -0.66%
[DCF] Terminal Value 74.26% ; FCFF base≈439.1m ; Y1≈288.3m ; Y5≈131.8m
[DCF] Fair Price = 27.77 (EV 3.03b - Net Debt 682.6m = Equity 2.35b / Shares 84.5m; r=7.25% [WACC]; 5y FCF grow -40.0% → 3.0% )
EPS Correlation: 95.20 | EPS CAGR: 39.86% | SUE: 0.77 | # QB: 0
Revenue Correlation: 97.96 | Revenue CAGR: 13.85% | SUE: 0.43 | # QB: 0
EPS next Quarter (2026-07-31): EPS=1.19 | Chg7d=+0.006 | Chg30d=+0.033 | Revisions Net=+4 | Analysts=15
EPS current Year (2027-01-31): EPS=4.62 | Chg7d=+0.019 | Chg30d=+0.082 | Revisions Net=+5 | Growth EPS=+15.6% | Growth Revenue=+7.4%
EPS next Year (2028-01-31): EPS=5.34 | Chg7d=+0.072 | Chg30d=+0.028 | Revisions Net=+3 | Growth EPS=+15.4% | Growth Revenue=+8.2%
[Analyst] Revisions Ratio: +0.67 (5 Up / 1 Down within 30d for Next Quarter)
[Growth] Implied Growth Rate = 5.1% (Discount Rate 8.1% - Earnings Yield 3.0%)
[Growth] Growth Spread = +1.6% (Analyst 6.7% - Implied 5.1%)
External Resources
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