A Business at a Glance
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Table of Contents Part I Company overview We are a leader and an innovator in providing technology-enabled services that empower consumers to make healthcare saving and spending decisions. We use our innovative technology to manage consumers' tax-advantaged health savings accounts (“HSAs”) and other consumer-directed benefits (“CDBs”) offered by employers, including flexible spending accounts and health reimbursement arrangements (“FSAs” and “HRAs”), and to administer Consolidated Omnibus Budget Reconciliation Act (“COBRA”), commuter and other benefits. As part of our services, we provide consumers with payment processing services, personalized benefit information, the ability to earn wellness incentives, and investment advice to grow their tax-advantaged healthcare savings.
| Metric | TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|---|---|
| Revenue | 1.3B | 1.3B | 1.2B | 1000M | 862M | 757M |
| Net Income | 215M | 215M | 97M | 56M | -26M | -44M |
| EPS | $2.46 | $2.46 | $1.09 | $0.64 | $-0.31 | $-0.53 |
| Free Cash Flow | 455M | 455M | 338M | 241M | 147M | 132M |
| ROIC | 9.1% | 8.9% | 5.0% | 3.5% | 0.4% | -1.7% |
| Gross Margin | 69.5% | 69.5% | 64.8% | 62.3% | 57.1% | 56.1% |
| Debt/Equity | 0.45 | 0.45 | 0.50 | 0.43 | 0.49 | 0.50 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | 322M | 322M | 162M | 118M | 9.1M | -24M |
| Operating Margin | 24.6% | 24.6% | 13.5% | 11.8% | 1.1% | -3.2% |
| ROE | 10.2% | 10.2% | 4.7% | 2.8% | -1.4% | -2.7% |
| Shares Outstanding | 87M | 87M | 89M | 87M | 84M | 84M |
HEALTHEQUITY, INC. passes 4 of 9 quality checks, suggesting mixed fundamentals.
HEALTHEQUITY, INC. trades at 36.7x trailing earnings, compared to its 15-year median P/E of 65.2x, suggesting it is currently Cheap relative to its historical range. On a free-cash-flow basis, the stock trades at 16.5x vs a median of 36.4x. The company's 5-year average ROIC is 3.2% with a gross margin of 62.0%. Total shareholder yield (buybacks) is 4.3%. At current prices, the estimated annualized return to fair value is +15.3%.
HEALTHEQUITY, INC. (HQY) has a current P/E ratio of 36.7, compared to its historical median P/E of 65.2. The stock is currently considered Cheap based on its historical valuation range.
HEALTHEQUITY, INC. (HQY) has a 5-year average return on invested capital (ROIC) of 3.2%. This is below average and may indicate limited pricing power.
HEALTHEQUITY, INC. (HQY) has a market capitalization of $7.0B. It is classified as a mid-cap stock.
HEALTHEQUITY, INC. (HQY) does not currently pay a regular dividend. However, the company returns capital to shareholders through share buybacks, with a buyback yield of 4.28%.
Based on historical P/E analysis, HEALTHEQUITY, INC. (HQY) appears cheap. The current P/E of 36.7 is 44% below its historical median of 65.2. The estimated fair value CAGR (P/E method) is 10.6%.
HEALTHEQUITY, INC. (HQY) operates in the Services-Business Services, Nec industry, within the Industrials sector.
HEALTHEQUITY, INC. (HQY) reported annual revenue of $1.3 billion in its most recent fiscal year, based on SEC EDGAR filings.
HEALTHEQUITY, INC. (HQY) has a net profit margin of 16.4%. This is a healthy margin.
HEALTHEQUITY, INC. (HQY) generated $455 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
HEALTHEQUITY, INC. (HQY) has a debt-to-equity ratio of 0.45. This indicates a conservatively financed balance sheet.
HEALTHEQUITY, INC. (HQY) reported earnings per share (EPS) of $2.46 in its most recent fiscal year.
HEALTHEQUITY, INC. (HQY) has a return on equity (ROE) of 10.2%. This indicates moderate shareholder returns.
HEALTHEQUITY, INC. (HQY) has a 5-year average gross margin of 62.0%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 14 years of financial data for HEALTHEQUITY, INC. (HQY), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
HEALTHEQUITY, INC. (HQY) has a book value per share of $24.09, based on its most recent annual SEC filing.