Stocks · Healthcare · Medical - Healthcare Information Services
HealthEquity, Inc. HQY
$91.55 +1.68% Close, Oct 5, 2026 · NASDAQ · Market cap $7.53B
High qualityInexpensive vs sectorLow risk
Next earnings report: Dec 2, 2026
Scroll or pinch to zoom, drag to move. Daily prices adjusted for splits. Markers: E = earnings (green beat, red miss), S = split, D = dividend.
Three things to know
- Diluted EPS over the last four quarters was $2.77, up 67.4% year over year.
- The shares trade at 33.1× trailing earnings, lower than 93% of the company's own readings over the past five years.
- Earnings beat analyst estimates in each of the last 6 quarters (average surprise over the last four: +8.4%).
PromtFinance scores
Each score is a percentile within the Healthcare sector (0–100). Under each score: how the stock ranks in its sector on every component. As of Oct 6, 2026.
How fast revenue, earnings and cash flow are growing.
- Revenue growth (TTM, YoY)Bottom 47%
- EPS growth (TTM, YoY)Top 19%
- FCF growth (TTM, YoY)Top 35%
- Revenue growth, 3-year CAGRTop 40%
- Revenue growth accelerationTop 49%
Returns on capital, margins, earnings quality and balance-sheet strength.
- Return on invested capitalTop 18%
- Gross marginTop 37%
- Operating marginTop 9%
- Cash conversion (OCF / net income)Top 29%
- Accruals (lower is better)Top 44%
- Net debt / EBITDA (lower is better)Bottom 45%
- Interest coverTop 21%
How cheap the shares are relative to earnings, cash flow and their own history.
- Earnings yieldTop 17%
- Free-cash-flow yieldTop 14%
- EBITDA / enterprise valueTop 20%
- Sales / enterprise valueBottom 43%
- P/E vs own 5-year history (lower is better)Top 20%
Strength and persistence of the price trend, including versus the S&P 500.
- 12-month return excluding last monthBottom 43%
- 6-month returnTop 49%
- 1-year return vs S&P 500Bottom 45%
- Distance from 52-week highTop 25%
- Trend checklist (0–4)Top 43%
Earnings surprises and analyst sentiment (estimate-revision history is being collected).
- Average EPS surprise, last 4 quartersTop 41%
- Consecutive EPS beatsTop 12%
- Share of analysts rating BuyTop 23%
- Upside to consensus price targetBottom 34%
Low volatility, shallow drawdowns, low market sensitivity and modest leverage.
- Volatility, 60 days (lower is better)Top 16%
- Maximum drawdown, 3 yearsTop 9%
- Beta vs S&P 500 (lower is better)Top 36%
- Net debt / EBITDA (lower is better)Bottom 45%
What changed
Latest four quarters versus the same period a year earlier (growth: versus one quarter earlier).
| Measure | Before | Now | |
|---|---|---|---|
| Revenue growth (YoY) | 7.6% | 7.3% | ↓ |
| EPS growth (YoY) | 94.3% | 67.4% | ↓ |
| Gross margin | 60.0% | 75.2% | ↑ |
| Operating margin | 23.7% | 25.6% | ↑ |
| FCF margin | 26.8% | 34.6% | ↑ |
Fundamental momentum
| Measure | Now (TTM) | Year / quarter before | Sector rank | |
|---|---|---|---|---|
| Revenue growth (TTM, YoY) | 7.3% | 7.6% | ↓ | Bottom 47% |
| EPS growth (TTM, YoY) | 67.4% | 94.3% | ↓ | Top 19% |
| Gross margin | 75.2% | 60.0% | ↑ | Top 37% |
| Operating margin | 25.6% | 23.7% | ↑ | Top 9% |
| Net margin | 17.4% | 11.5% | ↑ | — |
| Free-cash-flow margin | 34.6% | 26.8% | ↑ | — |
| Return on invested capital | 8.5% | — | Top 18% | |
| Revenue growth, 3-year CAGR | 15.1% | — | Top 40% |
Quality of earnings and balance sheet
- Cash conversion (OCF / net income)Above 1× means profits are backed by cash.
- 2.07×
- Accruals (net income − OCF) / assetsLower is better; high accruals can signal weaker earnings quality.
- -7.8%
- Stock-based compensation / revenueA cost to shareholders through dilution.
- 6.0%
- Receivables growth vs revenue growthReceivables growing much faster than sales can be a warning.
- +2.6 pp
- Net debt / EBITDABelow 1× is conservative; above 3× is high leverage.
- 1.52×
- Interest cover (operating income / interest)How many times operating profit covers interest.
- 6.6×
Shareholder returns
- Dividend yield (dividends paid, TTM)
- 0.00%
- Net buyback yield (TTM)
- 5.35%
- Shareholder yield
- 5.35%
- Share count change, 1 year
- -4.3%
- Share count change, 3-year CAGR
- -0.9%
Shareholder yield = dividends + net buybacks over the last four quarters, divided by market cap.
Based on the four quarters through Jul 31, 2026 (filed Aug 27, 2026).
Earnings and expectations
Earnings momentum
- Consecutive EPS beats
- 6
- Beats in the last 8 reports
- 7 of 8
- Average EPS surprise, last 4
- +8.4%
- Average 2-day reaction, last 8
- -0.4%
- Positive 20 days after report
- 3 of 8
Analysts
- Consensus price target
- $115.29
- Target vs current price
- +25.9%
- Analysts with a rating
- 27
- Share rating Buy or Strong Buy
- 93%
- Consensus rating
- Buy
How the stock reacted to recent reports
| Report date | EPS surprise | 2 days | 5 days | 20 days | 60 days |
|---|---|---|---|---|---|
| Aug 27, 2026 | +4.2% | -10.6% | -5.6% | -15.2% | — |
| May 28, 2026 | +11.7% | +4.6% | -1.6% | -3.6% | +21.8% |
| Mar 17, 2026 | +6.7% | +0.9% | +3.8% | +3.4% | +14.0% |
| Dec 3, 2025 | +10.7% | -0.2% | -5.7% | -7.4% | -21.2% |
| Sep 2, 2025 | +18.2% | -0.5% | +4.2% | +6.7% | +16.0% |
| Jun 3, 2025 | +19.3% | +0.9% | +8.1% | +0.1% | -14.4% |
| Mar 18, 2025 | -2.8% | +0.9% | -10.3% | -17.2% | +3.8% |
| Dec 9, 2024 | +9.9% | +0.8% | -4.6% | -1.5% | +0.4% |
Returns from the close before each report. Past reactions do not determine future ones.
Earnings history
| Report date | EPS | Estimate | Surprise | Revenue |
|---|---|---|---|---|
| Aug 27, 2026 | $1.24 | $1.19 | +4.2% | $350.7M |
| May 28, 2026 | $1.24 | $1.11 | +11.7% | $354.6M |
| Mar 17, 2026 | $0.95 | $0.89 | +6.7% | $334.6M |
| Dec 3, 2025 | $1.01 | $0.91 | +10.7% | $322.2M |
| Sep 2, 2025 | $1.08 | $0.91 | +18.2% | $325.8M |
| Jun 3, 2025 | $0.97 | $0.81 | +19.3% | $330.8M |
| Mar 18, 2025 | $0.69 | $0.71 | -2.8% | $311.8M |
| Dec 9, 2024 | $0.78 | $0.71 | +9.9% | $300.4M |
Valuation in context
| Multiple | Now | 5-year median | 5-year percentile | Sector rank (cheapness) |
|---|---|---|---|---|
| P/E (trailing) | 33.1× | 81.9× | 7th | Top 17% |
| P/E (forward) | 19.4× | — | — | — |
| EV / EBITDA | 17.6× | — | — | Top 20% |
| EV / Sales | 6.05× | — | — | Bottom 43% |
| Free-cash-flow yield | 6.27% | — | — | Top 14% |
| Earnings yield | 3.03% | — | — | Top 17% |
P/E over the past five years
Range 32.3× – 451.3× since Jul 31, 2023. Each point: price on the filing date divided by trailing-twelve-month EPS known then.
What moved the stock over the past year
- Price return, 1 year
- +2.1%
- Earnings per share growth (TTM)
- +67.4%
- Change in P/E multiple
- -37.2%
Most of the move came from earnings growth.
Technical state
Trend checklist
- ✗ Price above 20-day average
- ✗ Price above 50-day average
- ✓ Price above 200-day average
- ✓ 50-day average above 200-day
- ✓ MACD histogram positive
Trend quality
- Days above the 50-day average
- 0
- Days above the 200-day average
- 3
- 50-day average slope (20 days)
- -1.0%
- 200-day average slope (20 days)
- -0.8%
- Distance from 50-day average
- -6.8%
- Distance from 200-day average
- +3.2%
- RSI (14)
- 44.6
- Relative volume
- 1.12×
Risk and drawdowns
- Volatility, 60 days (annualized)
- 35.2%
- Volatility vs own 5-year history
- 37th percentile · Normal for this stock
- Beta vs S&P 500 (2 years, weekly)
- 0.89
- Correlation with S&P 500
- 0.39
- Current drawdown from 1-year high
- -14.3%
- Maximum drawdown, 3 years
- -36.1%
Largest declines in the past six years
| From peak | To low | Decline | Length | Recovery |
|---|---|---|---|---|
| Jan 26, 2021 | Dec 20, 2021 | -56.6% | 228 days | 724 days (Nov 6, 2024) |
| Feb 12, 2025 | Feb 12, 2026 | -36.1% | 251 days | Not yet recovered |
| Dec 1, 2020 | Dec 11, 2020 | -13.1% | 8 days | 16 days (Jan 6, 2021) |
| Nov 21, 2024 | Dec 17, 2024 | -13.0% | 17 days | 21 days (Jan 21, 2025) |
| Oct 23, 2020 | Oct 29, 2020 | -10.8% | 4 days | 7 days (Nov 9, 2020) |
Declines of 10% or more from a closing high, measured on daily closes.
Financial statements
- Market cap
- $7.53B
- P/E (TTM)
- 33.1
- EPS, diluted (TTM)
- $2.77
- Revenue (TTM)
- $1.36B
- 52-week range
- $72.76 – $107.62
| FY 2022 | FY 2023 | FY 2024 | FY 2025 | FY 2026 | |
|---|---|---|---|---|---|
| Revenue | $756.6M | $861.7M | $999.6M | $1.20B | $1.31B |
| Gross profit | $340.9M | $395.5M | $529.9M | $692.6M | $913.1M |
| Operating income | $40.6M | $37.7M | $128.1M | $230.1M | $322.5M |
| Net income | -$44.3M | -$26.1M | $55.7M | $96.7M | $215.2M |
| EPS (diluted) | -$0.53 | -$0.31 | $0.64 | $1.09 | $2.46 |
| Q3 2025 | Q4 2025 | Q1 2026 | Q2 2026 | Q3 2026 | Q4 2026 | Q1 2027 | Q2 2027 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $300.4M | $311.8M | $330.8M | $325.8M | $322.2M | $334.6M | $354.6M | $350.7M |
| Net income | $5.7M | $26.4M | $53.9M | $59.9M | $51.7M | $49.7M | $69.4M | $65.6M |
| EPS (diluted) | $0.06 | $0.30 | $0.61 | $0.68 | $0.59 | $0.58 | $0.82 | $0.78 |
| FY 2022 | FY 2023 | FY 2024 | FY 2025 | FY 2026 | |
|---|---|---|---|---|---|
| Operating cash flow | $141.0M | $150.7M | $242.8M | $339.9M | $457.1M |
| Capital expenditure | -$137.1M | -$119.1M | -$46.1M | -$2.1M | -$2.0M |
| Free cash flow | $3.9M | $31.5M | $196.8M | $337.8M | $455.1M |
| Dividends paid | $0 | $0 | $0 | $0 | $0 |
| Net share buybacks | $466.4M | $6.7M | $6.5M | -$112.1M | -$287.8M |
Cash outflows are shown as negative numbers.
- Cash and short-term investments
- $256.0M
- Total assets
- $3.27B
- Total liabilities
- $1.28B
- Total debt
- $971.0M
- Net debt
- $715.0M
- Shareholders’ equity
- $1.99B
As of Jul 31, 2026 (filed Aug 27, 2026).
Short interest
- Shares sold short
- 4,801,056
- Days to cover
- 6.38
- Change vs previous report
- +6.3%
FINRA short interest, settlement date Sep 15, 2026.