HealthEquity, Inc. (HQY)

NASDAQ: HQY · Real-Time Price · USD

104.27

+0.32 (0.31%)

At close: Aug 20, 2026, 4:00 PM EDT

102.92

-1.35 (-1.29%)

Pre-market: Aug 21, 2026, 7:46 AM EDT

HealthEquity Financials Overview

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

Millions USD. Fiscal year is Feb - Jan.

Revenue & Profits

Fiscal Year	TTM	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Apr '26 Apr 30, 2026	Jan '26 Jan 31, 2026	Jan '25 Jan 31, 2025	Jan '24 Jan 31, 2024	Jan '23 Jan 31, 2023	Jan '22 Jan 31, 2022
Revenue	1,337	1,313	1,200	999.59	861.75	756.56
Revenue Growth	7.58%	9.47%	20.03%	16.00%	13.90%	3.13%
Gross Profit	945.12	913.12	777.26	622.64	491.94	424.77
Operating Income	347.19	327.48	202.87	128.13	37.65	40.57
Net Income	230.7	215.2	96.7	55.71	-26.14	-44.29
Earnings Per Share	2.67	2.46	1.09	0.64	-0.31	-0.53
EPS Growth	94.81%	125.69%	70.31%	-	-	-

Revenue by Segment

Fiscal Year	TTM	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Apr '26 Apr 30, 2026	Jan '26 Jan 31, 2026	Jan '25 Jan 31, 2025	Jan '24 Jan 31, 2024	Jan '23 Jan 31, 2023	Jan '22 Jan 31, 2022
Service	488.17	485.02	478.32	455.69	452.03	443.61
Custodial	654.68	636.8	545.41	386.59	261.28	186.12
Interchange	194.38	191.61	176.04	157.3	148.44	126.83
Revenue (Total)	1,337	1,313	1,200	999.59	861.75	756.56

Cash & Debt

Fiscal Year	Current	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Apr '26 Apr 30, 2026	Jan '26 Jan 31, 2026	Jan '25 Jan 31, 2025	Jan '24 Jan 31, 2024	Jan '23 Jan 31, 2023	Jan '22 Jan 31, 2022
Cash & Investments	265.37	318.93	295.95	403.98	254.27	225.41
Total Debt	984.68	1,001	1,109	933.14	994.49	1,008
Net Cash (Debt)	-719.31	-682.55	-812.57	-529.16	-740.22	-782.82
Net Cash Growth	-	-	-	-	-	-
Net Cash Per Share	-8.30	-7.80	-9.15	-6.09	-8.77	-9.42

Cash Flow & CapEx

Fiscal Year	TTM	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Apr '26 Apr 30, 2026	Jan '26 Jan 31, 2026	Jan '25 Jan 31, 2025	Jan '24 Jan 31, 2024	Jan '23 Jan 31, 2023	Jan '22 Jan 31, 2022
Operating Cash Flow	489.88	457.09	339.86	242.83	150.65	141
Capital Expenditures	-2.25	-1.97	-2.08	-1.69	-3.37	-8.91
Free Cash Flow	487.64	455.13	337.77	241.13	147.28	132.09
Free Cash Flow Growth	44.39%	34.74%	40.08%	63.73%	11.50%	-21.62%

Margins

Fiscal Year	TTM	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Apr '26 Apr 30, 2026	Jan '26 Jan 31, 2026	Jan '25 Jan 31, 2025	Jan '24 Jan 31, 2024	Jan '23 Jan 31, 2023	Jan '22 Jan 31, 2022
Gross Margin	70.68%	69.52%	64.78%	62.29%	57.09%	56.15%
Operating Margin	25.96%	24.93%	16.91%	12.82%	4.37%	5.36%
Pretax Margin	22.35%	21.12%	9.67%	7.51%	-4.42%	-8.82%
Profit Margin	17.25%	16.38%	8.06%	5.57%	-3.03%	-5.85%
FCF Margin	36.47%	34.65%	28.15%	24.12%	17.09%	17.46%

Valuation

Fiscal Year	Current	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Aug '26 Aug 21, 2026	Jan '26 Jan 31, 2026	Jan '25 Jan 31, 2025	Jan '24 Jan 31, 2024	Jan '23 Jan 31, 2023	Jan '22 Jan 31, 2022
PE Ratio	39.11	34.01	98.96	116.40	-	-
Forward PE	21.37	19.75	31.70	28.55	36.76	40.27
P/FCF Ratio	17.88	16.08	28.33	26.89	34.97	33.82
PS Ratio	6.52	5.57	7.98	6.49	5.98	5.91