HealthEquity Cash Flow Statement

Financials in millions USD. Fiscal year is February - January.

Millions USD. Fiscal year is Feb - Jan.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Oct '25 Oct 31, 2025	Jan '25 Jan 31, 2025	Jan '24 Jan 31, 2024	Jan '23 Jan 31, 2023	Jan '22 Jan 31, 2022	Jan '21 Jan 31, 2021
Net Income	191.83	96.7	55.71	-26.14	-44.29	8.83
Depreciation & Amortization	155.16	162.45	153.08	161.2	137.19	115.9
Other Amortization	1.07	2.07	2.85	3.26	4.45	5.1
Asset Writedown & Restructuring Costs	-	-	-	-	11.25	-
Loss (Gain) From Sale of Investments	-	-	-	-	-1.68	-
Stock-Based Compensation	75.65	96.43	77.15	62.61	52.75	42.86
Other Operating Activities	39.96	-11.26	-12.84	-16.91	-20.3	-3.38
Change in Accounts Receivable	-4.53	-13.11	-8.06	-9.57	-11.2	-0.41
Change in Accounts Payable	-27.14	8.89	-0.2	-26.67	-2.18	30.42
Change in Other Net Operating Assets	-17.07	-2.31	-24.87	2.87	15.01	-17.71
Operating Cash Flow	414.93	339.86	242.83	150.65	141	181.62
Operating Cash Flow Growth	21.62%	39.96%	61.19%	6.85%	-22.37%	72.95%
Capital Expenditures	-1.97	-2.08	-1.69	-3.37	-8.91	-13.09
Cash Acquisitions	-	-	-	-	-504.53	-
Sale (Purchase) of Intangibles	-50.29	-503.37	-44.38	-115.76	-128.17	-83.87
Investment in Securities	-	-	-	-	2.37	-
Investing Cash Flow	-52.26	-505.45	-46.07	-119.13	-639.25	-96.96
Long-Term Debt Issued	-	736.88	-	-	950	-
Long-Term Debt Repaid	-	-561.88	-54.38	-8.75	-1,003	-239.06
Net Debt Issued (Repaid)	-100	175	-54.38	-8.75	-53.13	-239.06
Issuance of Common Stock	9.83	9.43	6.47	6.68	466.39	295.35
Repurchase of Common Stock	-281.21	-121.49	-	-	-	-
Other Financing Activities	-4.19	-5.37	0.87	-0.6	-18.41	-3.86
Financing Cash Flow	-375.57	57.57	-47.04	-2.67	394.86	52.42
Net Cash Flow	-12.9	-108.03	149.71	28.85	-103.39	137.08
Free Cash Flow	412.96	337.77	241.13	147.28	132.09	168.53
Free Cash Flow Growth	21.86%	40.08%	63.73%	11.50%	-21.62%	72.45%
Free Cash Flow Margin	32.00%	28.15%	24.12%	17.09%	17.46%	22.97%
Free Cash Flow Per Share	4.68	3.80	2.77	1.74	1.59	2.23
Cash Interest Paid	54.84	58.59	49.56	43.57	16.11	27.69
Cash Income Tax Paid	9.6	26.07	35.35	1.53	-5.63	-6.02
Levered Free Cash Flow	279.54	-145.32	211.89	69.65	69.7	97
Unlevered Free Cash Flow	315.42	-109.49	243.69	96.65	88.11	113.7
Change in Working Capital	-48.74	-6.53	-33.13	-33.37	1.63	12.3

Source: S&P Global Market Intelligence. Standard template. Financial Sources.