HealthEquity (HQY) vs WEX (WEX)
Head-to-head comparison of performance, valuation, growth, profitability and dividends. Prices delayed 15 minutes; data as of Oct 9, 2026.
Summary
WEX (WEX) has outperformed HealthEquity (HQY) over the past year, gaining 9.6% versus a gain of 1.0%. Over five years, HQY leads with a +47.3% price change compared with -9.6% for WEX. HealthEquity is the larger company by market cap ($7.70 billion vs $5.94 billion), about 1.3 times the size.
On valuation, WEX trades at a lower forward P/E (8.2x vs 16.9x for HealthEquity). HealthEquity converts more of its revenue into profit, with a net margin of 16.4% versus 11.4%.
Summary generated from market data by MetaCap's automated system. Methodology
Relative performance
Percent change in share price from the first common trading day shown; excludes dividends.
Head-to-head
| Metric | HQY | WEX |
|---|---|---|
| Share price | $93.05 | $174.41 |
| Market cap | $7.70B | $5.94B |
| 1-day change | +1.25% | +2.62% |
| YTD return | +1.57% | +17.07% |
| 1-year return | +1.04% | +9.63% |
| 5-year return | +47.35% | -9.59% |
| P/E ratio (TTM) | 33.59 | 17.39 |
| Forward P/E | 16.92 | 8.20 |
| EPS (TTM) | $2.77 | $10.03 |
| Dividend yield | 0.00% | 0.00% |
| Annual dividend | $0.00 | $0.00 |
| Revenue (latest FY) | $1.31B | $2.66B |
| Revenue growth (YoY) | +9.47% | +1.24% |
| Net income (latest FY) | $215.20M | $304.10M |
| Gross margin | 69.52% | 58.64% |
| Operating margin | 24.55% | 24.95% |
| Net margin | 16.38% | 11.43% |
| 52-week high | $107.62 | $203.99 |
| 52-week low | $72.76 | $125.29 |
| Distance from 52-week high | -13.54% | -14.50% |
| Analyst consensus | strong_buy | buy |
| Avg. price target upside | +28.24% | +12.01% |
| Average volume | 841.36K | 646.20K |
| Shares outstanding | 82.72M | 34.08M |
| Employees | 2,814 | 6,600 |
| Sector | Consumer Discretionary | Consumer Discretionary |
| Industry | Business Services | Business Services |
Highlighted cells mark the higher value for growth, returns, margins and yield, and the lower value for P/E ratios. Highlighting is a mechanical comparison, not a recommendation.
Key differences
- HealthEquity trades at a higher earnings multiple (33.6x vs 17.4x trailing P/E).
- HealthEquity grew revenue faster in its latest fiscal year (+9.47% vs +1.24%).
About HealthEquity
HQY stock →HealthEquity, Inc. provides technology-enabled services platforms to consumers and employers in the United States.
Consumer Discretionary · Business Services · 2,814 employees
About WEX
WEX stock →WEX Inc. operates a commerce platform in the United States and internationally.
Consumer Discretionary · Business Services · 6,600 employees
HQY vs WEX FAQ
Which is bigger, HealthEquity or WEX?
HealthEquity (HQY) is larger, with a market capitalization of $7.70B compared with $5.94B for WEX (WEX).
Which stock has performed better over the past year, HQY or WEX?
WEX returned +9.63% over the past 12 months, compared with +1.04% for HQY (price return, excluding dividends). Past performance does not predict future results.
Which has the lower P/E ratio, HQY or WEX?
WEX has the lower trailing P/E at 17.4, versus 33.6 for HQY. A lower P/E is not by itself a sign of a better investment; it can reflect slower expected growth or higher risk.
Are HealthEquity and WEX in the same industry?
Yes. Both are classified in the Business Services industry within the Consumer Discretionary sector.