HealthEquity Financial Ratios
NASDAQ: HQYConsumer DiscretionaryBusiness ServicesUSD
At close: Oct 9, 4:00 PM ET · Delayed 15 min
HealthEquity ratio analysis
HealthEquity earned a net margin of 16.4% in FY 2026, up from 8.1% a year earlier. Gross margin was 69.5% compared with a median of 59.6% over the prior 9 years. Return on equity reached 10.2%, meaning HealthEquity generated 0.10 dollars of profit for every dollar of shareholders' equity.
Debt-to-equity stood at 0.45 versus 0.50 the year before, and the current ratio was 3.27. At the end of FY 2026, HQY traded at 34.8 times earnings; across the 8 fiscal years shown, its year-end P/E ranged from 34.8 to 696.3, with a median of 104.4. Valuation ratios use the closing share price on each fiscal year-end date and diluted shares from the income statement; profitability and leverage ratios use reported annual figures. Current valuation multiples are on the statistics page.
Summary generated from market data by MetaCap's automated system. Methodology
HealthEquity financial ratios (annual)
| Ratio | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| P/E ratio (at fiscal year end) | 34.83 | 101.30 | 120.83 | — | — | 696.25 | 113.90 | 54.39 | 64.74 | 107.57 |
| Price / sales | 5.62 | 7.99 | 6.62 | 5.88 | 6.02 | 8.45 | 8.32 | 13.70 | 13.10 | 15.55 |
| Price / book | 3.50 | 4.54 | 3.25 | 2.67 | 2.46 | 4.50 | 4.30 | 8.25 | 8.68 | 10.59 |
| Gross margin | 69.5% | 64.8% | 62.3% | 57.1% | 56.1% | 56.6% | 61.3% | 63.1% | 58.8% | 59.6% |
| Operating margin | 24.6% | 13.5% | 11.8% | 1.1% | -3.2% | 4.6% | 14.5% | 27.0% | 23.7% | 23.1% |
| Net margin | 16.4% | 8.1% | 5.6% | -3.0% | -5.9% | 1.2% | 7.5% | 25.7% | 20.6% | 14.8% |
| Free cash flow margin | 34.7% | 28.2% | 24.1% | 17.1% | 17.5% | 23.0% | 18.4% | 38.1% | 33.2% | 23.5% |
| Return on equity (ROE) | 10.2% | 4.6% | 2.7% | -1.4% | -2.4% | 0.6% | 3.8% | 15.5% | 13.7% | 10.1% |
| Return on assets (ROA) | 6.4% | 2.8% | 1.8% | -0.8% | -1.4% | 0.3% | 1.5% | 14.5% | 12.8% | 9.4% |
| Debt / equity | 0.45 | 0.50 | 0.43 | 0.49 | 0.50 | 0.72 | 1.18 | 0.00 | — | — |
| Current ratio | 3.27 | 3.06 | 4.76 | 2.92 | 2.29 | 2.25 | 1.96 | 13.58 | 12.95 | 12.79 |
| Revenue growth | 9.5% | 20.0% | 16.0% | 13.9% | 3.1% | 37.9% | 85.2% | 25.1% | 28.7% | 40.7% |
| EPS growth | 125.7% | 70.3% | — | — | -541.7% | -79.3% | -50.4% | 51.9% | 75.0% | 57.1% |