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HealthEquity (HQY) Financials

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$101.14 +2.13 (+2.15%)
Closing price 05/27/2025 04:00 PM Eastern
Extended Trading
$98.58 -2.57 (-2.54%)
As of 05/27/2025 07:49 PM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Polygon.io. Learn more.
Annual Income Statements for HealthEquity

Annual Income Statements for HealthEquity

This table shows HealthEquity's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015
Period end date 1/31/2025 1/31/2024 1/31/2023 1/31/2022 1/31/2021 1/31/2020 1/31/2019 1/31/2018 1/31/2017 1/31/2016 1/31/2015
Net Income / (Loss) Attributable to Common Shareholders
97 56 -26 -44 8.83 40 74 47 26 17 10
Consolidated Net Income / (Loss)
97 56 -26 -44 8.83 40 74 47 26 17 10
Net Income / (Loss) Continuing Operations
97 56 -26 -44 8.83 40 74 47 26 17 10
Total Pre-Tax Income
116 75 -38 -67 4.14 43 76 52 40 26 16
Total Operating Income
162 118 9.06 -24 34 77 78 54 41 26 17
Total Gross Profit
777 623 492 425 415 326 181 135 106 73 48
Total Revenue
1,200 1,000 862 757 734 532 287 230 178 127 88
Operating Revenue
1,200 1,000 862 757 734 532 287 230 178 127 88
Total Cost of Revenue
423 377 370 332 318 206 106 95 72 54 40
Operating Cost of Revenue
423 377 370 332 318 206 106 95 72 54 40
Total Operating Expenses
615 505 483 449 381 249 104 80 65 46 31
Selling, General & Admin Expense
132 104 97 85 84 61 33 25 20 14 8.34
Marketing Expense
91 79 69 59 50 44 29 23 18 13 11
Research & Development Expense
240 219 193 157 125 78 35 27 22 17 11
Amortization Expense
112 93 95 83 76 35 5.93 4.86 4.30 2.21 1.64
Restructuring Charge
41 10 29 65 46 32 0.00 0.00 - - -
Total Other Income / (Expense), net
-46 -43 -47 -43 -30 -34 -1.85 -2.23 -1.09 -0.59 -1.11
Interest Expense
61 55 48 37 35 25 0.27 0.27 - - -
Other Income / (Expense), net
14 13 1.27 -5.93 5.01 -9.08 -1.58 -1.96 -1.09 -0.59 -1.11
Income Tax Expense
19 19 -12 -22 -4.69 3.49 1.92 4.83 14 8.94 5.60
Basic Earnings per Share
$1.11 $0.65 ($0.31) ($0.53) $0.12 $0.59 $1.20 $0.79 $0.45 $0.29 $0.39
Weighted Average Basic Shares Outstanding
86.87M 85.56M 84.44M 83.13M 74.24M 67.03M 61.84M 60.30M 58.62M 56.72M 31.18M
Diluted Earnings per Share
$1.09 $0.64 ($0.31) ($0.53) $0.12 $0.58 $1.17 $0.77 $0.44 $0.28 $0.21
Weighted Average Diluted Shares Outstanding
88.83M 86.96M 84.44M 83.13M 75.68M 68.45M 63.37M 61.85M 59.89M 58.86M 51.86M
Weighted Average Basic & Diluted Shares Outstanding
86.50M 86.16M 84.78M 83.82M 83.02M 71.08M 61.60M 60M 58.60M 57.30M 31.18M

Quarterly Income Statements for HealthEquity

This table shows HealthEquity's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023
Period end date 1/31/2025 10/31/2024 7/31/2024 4/30/2024 1/31/2024 10/31/2023 7/31/2023 4/30/2023 1/31/2023 10/31/2022 7/31/2022
Net Income / (Loss) Attributable to Common Shareholders
26 5.70 36 29 26 15 11 4.09 -0.21 -1.64 -11
Consolidated Net Income / (Loss)
26 5.70 36 29 26 15 11 4.09 -0.21 -1.64 -11
Net Income / (Loss) Continuing Operations
26 5.70 36 29 26 15 11 4.09 -0.21 -1.64 -11
Total Pre-Tax Income
30 6.22 47 33 30 21 14 10 0.01 -6.18 -14
Total Operating Income
42 20 59 42 39 31 25 23 13 5.54 -2.41
Total Gross Profit
189 197 204 187 163 159 152 148 136 127 118
Total Revenue
312 300 300 288 262 249 244 244 234 216 206
Operating Revenue
312 300 300 288 262 249 244 244 234 216 206
Total Cost of Revenue
123 103 96 100 99 90 92 96 98 89 88
Operating Cost of Revenue
123 103 96 100 99 90 92 96 98 89 88
Total Operating Expenses
147 177 145 146 124 128 127 125 123 121 120
Selling, General & Admin Expense
30 32 32 38 23 27 28 26 23 25 26
Marketing Expense
23 23 22 23 21 20 19 20 19 17 16
Research & Development Expense
65 60 59 56 55 56 55 53 53 49 47
Amortization Expense
27 28 31 26 23 23 23 23 23 24 24
Restructuring Charge
2.18 34 1.78 2.14 2.28 2.66 2.04 3.46 5.11 6.51 7.68
Total Other Income / (Expense), net
-12 -13 -12 -8.39 -9.17 -9.80 -11 -13 -13 -12 -11
Interest Expense
15 18 15 12 14 14 13 15 14 12 11
Other Income / (Expense), net
3.07 4.75 3.11 3.40 4.47 3.74 2.76 1.83 1.10 0.44 0.03
Income Tax Expense
3.60 0.52 11 4.43 3.35 6.41 3.64 5.92 0.22 -4.54 -3.22
Basic Earnings per Share
$0.30 $0.07 $0.41 $0.33 $0.31 $0.17 $0.12 $0.05 - ($0.02) ($0.13)
Weighted Average Basic Shares Outstanding
86.87M 87.19M 87.13M 86.47M 85.56M 85.70M 85.53M 85.03M 84.44M 84.57M 84.44M
Diluted Earnings per Share
$0.30 $0.06 $0.40 $0.33 $0.30 $0.17 $0.12 $0.05 - ($0.02) ($0.13)
Weighted Average Diluted Shares Outstanding
88.83M 88.63M 88.65M 88.32M 86.96M 87.12M 86.34M 86.10M 84.44M 84.57M 84.44M
Weighted Average Basic & Diluted Shares Outstanding
86.50M 86.66M 87.32M 87.01M 86.16M 85.80M 85.63M 85.47M 84.78M 84.64M 84.53M

Annual Cash Flow Statements for HealthEquity

This table details how cash moves in and out of HealthEquity's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015
Period end date 1/31/2025 1/31/2024 1/31/2023 1/31/2022 1/31/2021 1/31/2020 1/31/2019 1/31/2018 1/31/2017 1/31/2016 1/31/2015
Net Change in Cash & Equivalents
-108 150 29 -103 137 -170 162 60 56 -27 97
Net Cash From Operating Activities
340 243 151 141 182 105 113 82 46 27 15
Net Cash From Continuing Operating Activities
340 243 151 141 182 105 113 82 46 27 15
Net Income / (Loss) Continuing Operations
97 56 -26 -44 8.83 40 74 47 26 17 10
Consolidated Net Income / (Loss)
97 56 -26 -44 8.83 40 74 47 26 17 10
Depreciation Expense
162 153 161 137 116 55 18 16 13 8.60 5.89
Amortization Expense
2.07 2.85 3.26 4.45 5.10 2.71 0.06 - 0.10 0.02 0.00
Non-Cash Adjustments To Reconcile Net Income
105 88 71 83 56 19 22 15 8.43 5.91 3.32
Changes in Operating Assets and Liabilities, net
-26 -57 -59 -39 -3.99 -12 -0.56 3.48 -2.50 -4.60 -4.33
Net Cash From Investing Activities
-505 -46 -119 -639 -97 -1,740 26 -37 -13 -91 -8.44
Net Cash From Continuing Investing Activities
-505 -46 -119 -639 -97 -1,740 26 -37 -13 -91 -8.44
Purchase of Property, Plant & Equipment
-53 -43 -49 -72 -65 -33 -14 -16 -13 -9.27 -8.13
Acquisitions
-452 -3.26 -71 -570 -32 -1,654 -1.00 -20 0.00 -40 0.00
Net Cash From Financing Activities
58 -47 -2.67 395 52 1,466 23 15 24 37 90
Net Cash From Continuing Financing Activities
58 -47 -2.67 395 52 1,466 23 15 24 37 90
Repayment of Debt
-566 -54 -8.75 -1,015 -239 -38 0.00 0.00 - - -
Repurchase of Common Equity
-121 0.00 0.00 - - - - - - -0.32 0.00
Issuance of Debt
737 0.00 0.00 950 0.00 1,250 0.00 0.00 - 23 0.00
Other Financing Activities, net
7.81 7.34 6.08 3.75 4.71 -204 23 15 24 13 8.24
Cash Interest Paid
59 50 44 16 28 22 0.20 0.20 0.21 0.05 0.00
Cash Income Taxes Paid
26 35 1.53 -5.63 -6.02 9.28 0.59 0.03 0.86 1.36 -1.50

Quarterly Cash Flow Statements for HealthEquity

This table details how cash moves in and out of HealthEquity's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023
Period end date 1/31/2025 10/31/2024 7/31/2024 4/30/2024 1/31/2024 10/31/2023 7/31/2023 4/30/2023 1/31/2023 10/31/2022 7/31/2022
Net Change in Cash & Equivalents
-26 -4.73 76 -153 70 44 65 -29 44 33 16
Net Cash From Operating Activities
76 91 108 65 77 57 77 32 55 48 40
Net Cash From Continuing Operating Activities
76 91 108 65 77 57 77 32 55 48 40
Net Income / (Loss) Continuing Operations
26 5.70 36 29 26 15 11 4.09 -0.21 -1.64 -11
Consolidated Net Income / (Loss)
26 5.70 36 29 26 15 11 4.09 -0.21 -1.64 -11
Depreciation Expense
39 41 44 39 38 38 38 39 40 41 41
Amortization Expense
0.26 0.38 0.73 0.70 0.70 0.69 0.68 0.78 0.81 0.82 0.83
Non-Cash Adjustments To Reconcile Net Income
23 24 23 34 19 23 25 21 14 20 21
Changes in Operating Assets and Liabilities, net
-13 19 4.77 -37 -7.07 -19 2.68 -34 0.04 -12 -11
Net Cash From Investing Activities
-14 -13 -209 -270 -11 -15 -10 -9.14 -10 -14 -21
Net Cash From Continuing Investing Activities
-14 -13 -209 -270 -11 -15 -10 -9.14 -10 -14 -21
Purchase of Property, Plant & Equipment
-14 -13 -13 -14 -11 -12 -10 -9.14 -10 -12 -12
Net Cash From Financing Activities
-88 -82 177 52 4.12 2.03 -2.16 -51 -1.15 -1.10 -3.39
Net Cash From Continuing Financing Activities
-88 -82 177 52 4.12 2.03 -2.16 -51 -1.15 -1.10 -3.39
Repayment of Debt
-25 -541 - 0.00 - - - -54 -2.19 -2.19 -2.19
Repurchase of Common Equity
-63 - - - - - - - - - -
Other Financing Activities, net
-0.43 4.85 1.62 1.77 4.12 2.03 -2.16 3.35 1.04 1.09 -1.20
Cash Interest Paid
8.38 23 8.12 19 5.37 21 4.01 19 7.30 17 3.95
Cash Income Taxes Paid
2.25 10 13 0.28 11 9.66 15 -0.01 0.75 0.20 0.52

Annual Balance Sheets for HealthEquity

This table presents HealthEquity's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015
Period end date 1/31/2025 1/31/2024 1/31/2023 1/31/2022 1/31/2021 1/31/2020 1/31/2019 1/31/2018 1/31/2017 1/31/2016 1/31/2015
Total Assets
3,449 3,164 3,089 3,107 2,710 2,565 510 369 279 220 159
Total Current Assets
478 557 383 351 460 297 395 265 201 143 125
Cash & Equivalents
296 404 254 225 329 192 361 199 140 84 111
Accounts Receivable
118 105 97 87 73 71 26 22 17 14 9.05
Other Current Assets
64 49 32 38 59 35 7.53 3.53 2.87 1.70 2.27
Plant, Property, & Equipment, net
3.24 6.01 13 23 29 33 8.22 7.84 5.17 3.51 2.58
Total Noncurrent Assets
2,968 2,600 2,693 2,732 2,221 2,234 107 96 73 73 31
Goodwill
1,648 1,648 1,648 1,646 1,327 1,333 4.65 4.65 4.65 4.65 4.65
Intangible Assets
1,205 836 936 973 767 783 80 84 65 67 27
Other Noncurrent Operating Assets
115 116 109 113 127 118 21 2.18 1.86 1.75 0.28
Total Liabilities & Shareholders' Equity
3,449 3,164 3,089 3,107 2,710 2,565 510 369 279 220 159
Total Liabilities
1,334 1,129 1,193 1,255 1,332 1,535 33 23 17 16 15
Total Current Liabilities
156 117 131 153 205 152 29 20 16 12 8.83
Accounts Payable
14 12 14 28 1.61 3.98 3.52 2.42 3.22 2.43 1.30
Accrued Expenses
63 46 44 58 76 46 8.55 5.52 3.76 1.90 2.23
Current Employee Benefit Liabilities
69 50 46 47 51 50 17 13 8.72 7.78 5.30
Other Current Liabilities
10 9.40 10 12 14 12 0.00 - - - -
Total Noncurrent Liabilities
1,177 1,012 1,062 1,101 1,127 1,383 3.88 2.40 1.49 4.23 5.84
Long-Term Debt
1,056 875 908 922 924 1,182 0.00 - - - -
Capital Lease Obligations
42 49 59 - 74 68 - - - - -
Noncurrent Deferred & Payable Income Tax Liabilities
56 69 83 100 120 130 0.92 0.00 0.04 4.00 5.36
Other Noncurrent Operating Liabilities
23 19 13 79 8.81 2.63 2.97 - - - -
Commitments & Contingencies
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests
2,115 2,035 1,896 1,853 1,379 1,030 477 346 262 203 144
Total Preferred & Common Equity
2,115 2,035 1,896 1,853 1,379 1,030 477 346 262 203 144
Preferred Stock
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity
2,115 2,035 1,896 1,853 1,379 1,030 477 346 262 203 144
Common Stock
1,906 1,829 1,746 1,677 1,158 819 305 261 232 200 157
Retained Earnings
209 206 150 176 220 212 172 85 30 3.61 -13

Quarterly Balance Sheets for HealthEquity

This table presents HealthEquity's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2025 Q2 2025 Q1 2025 Q3 2024 Q2 2024 Q1 2024 Q3 2023 Q2 2023 Q1 2023 Q3 2022
Period end date 10/31/2024 7/31/2024 4/30/2024 10/31/2023 7/31/2023 4/30/2023 10/31/2022 7/31/2022 4/30/2022 10/31/2021
Total Assets
3,488 3,514 3,246 3,094 3,066 3,035 3,065 3,074 3,065 3,100
Total Current Assets
495 496 405 474 423 358 332 309 279 764
Cash & Equivalents
322 327 251 334 290 226 210 177 161 649
Accounts Receivable
107 108 106 96 93 98 88 90 86 84
Other Current Assets
66 60 47 44 40 34 34 41 32 31
Plant, Property, & Equipment, net
3.89 4.59 5.08 7.66 9.15 11 16 18 21 25
Total Noncurrent Assets
2,989 3,014 2,836 2,611 2,635 2,666 2,717 2,747 2,765 2,311
Goodwill
1,648 1,648 1,648 1,648 1,648 1,648 1,646 1,646 1,646 1,364
Intangible Assets
1,228 1,254 1,071 861 882 908 965 992 1,008 821
Other Noncurrent Operating Assets
113 112 117 103 105 110 107 109 111 126
Total Liabilities & Shareholders' Equity
3,488 3,514 3,246 3,094 3,066 3,035 3,065 3,074 3,065 3,100
Total Liabilities
1,364 1,357 1,149 1,106 1,117 1,116 1,182 1,209 1,210 1,228
Total Current Liabilities
155 121 92 96 103 90 110 126 118 107
Accounts Payable
10 11 18 13 13 13 16 16 14 5.24
Accrued Expenses
87 63 41 42 49 46 33 43 48 50
Current Employee Benefit Liabilities
48 37 23 31 31 20 35 42 33 33
Other Current Liabilities
9.95 9.90 9.76 9.77 10 11 11 11 12 13
Total Noncurrent Liabilities
1,209 1,237 1,056 1,009 1,014 1,027 1,071 1,084 1,092 1,121
Long-Term Debt
1,081 1,101 926 874 874 873 911 915 919 924
Capital Lease Obligations
44 46 48 - - - - - 64 68
Noncurrent Deferred & Payable Income Tax Liabilities
59 63 63 67 75 82 89 92 95 110
Other Noncurrent Operating Liabilities
25 25 19 68 65 72 71 76 14 19
Commitments & Contingencies
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests
2,125 2,157 2,098 1,988 1,950 1,919 1,883 1,865 1,855 1,872
Total Preferred & Common Equity
2,125 2,157 2,098 1,988 1,950 1,919 1,883 1,865 1,855 1,872
Preferred Stock
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity
2,125 2,157 2,098 1,988 1,950 1,919 1,883 1,865 1,855 1,872
Common Stock
1,893 1,887 1,863 1,809 1,785 1,765 1,733 1,713 1,693 1,663
Retained Earnings
232 270 234 179 165 154 150 152 162 209

Annual Metrics And Ratios for HealthEquity

This table displays calculated financial ratios and metrics derived from HealthEquity's official financial filings.

Metric 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015
Period end date 1/31/2025 1/31/2024 1/31/2023 1/31/2022 1/31/2021 1/31/2020 1/31/2019 1/31/2018 1/31/2017 1/31/2016 1/31/2015
Growth Metrics
- - - - - - - - - - -
Revenue Growth
20.03% 16.00% 13.90% 3.13% 37.89% 85.21% 25.15% 28.68% 40.69% 44.31% 41.67%
EBITDA Growth
19.12% 63.87% 56.81% -30.34% 27.02% 33.56% 37.88% 28.11% 56.25% 57.84% 124.53%
EBIT Growth
35.38% 1,163.51% 134.23% -177.31% -42.55% -10.73% 45.03% 30.77% 57.00% 62.10% 193.34%
NOPAT Growth
54.82% 1,278.31% 137.37% -123.38% 2.55% -6.51% 53.29% 82.27% 59.41% 56.20% 311.54%
Net Income Growth
73.58% 313.10% 40.97% -601.35% -77.73% -46.33% 56.03% 79.56% 58.77% 63.42% 724.49%
EPS Growth
70.31% 306.45% 41.51% -541.67% -79.31% -50.43% 51.95% 75.00% 57.14% 33.33% 116.67%
Operating Cash Flow Growth
39.96% 61.19% 6.85% -22.37% 72.95% -7.42% 38.82% 79.21% 71.78% 76.40% -16.48%
Free Cash Flow Firm Growth
-243.66% 357.94% 86.78% -621.58% 104.58% -3,036.06% 164.84% -0.93% 185.13% -1,297.48% 87.86%
Invested Capital Growth
14.20% -2.70% 2.65% 21.18% -0.77% 1,740.13% 9.06% 29.94% 2.38% 140.80% 64.70%
Revenue Q/Q Growth
4.30% 2.94% 3.67% 2.04% -1.75% 30.85% 5.64% 6.31% 6.53% 9.51% 0.00%
EBITDA Q/Q Growth
0.80% 10.14% 38.91% -21.48% -2.92% 20.96% 11.19% 3.24% 4.95% 11.65% 0.00%
EBIT Q/Q Growth
1.06% 28.63% 127.91% -464.49% -17.68% -3.89% 14.37% 1.90% 4.50% 10.24% 0.00%
NOPAT Q/Q Growth
1.84% 47.72% 128.84% -1,800.91% 115.33% 1.62% 8.08% 7.08% 3.80% 11.41% 0.00%
Net Income Q/Q Growth
0.00% 91.19% 55.50% -625.57% 169.58% -25.12% 10.82% 4.05% 3.67% 11.83% 0.00%
EPS Q/Q Growth
0.00% 88.24% 55.71% -657.14% 700.00% -31.76% 9.35% 5.48% 4.76% 7.69% 0.00%
Operating Cash Flow Q/Q Growth
-0.39% 9.75% 3.39% -6.84% 19.76% -1.59% 12.74% 6.88% 17.51% 14.21% -6.88%
Free Cash Flow Firm Q/Q Growth
14.74% 21.19% 84.70% -439.65% 104.06% 0.33% 25.11% 5.42% 102.81% 0.00% 0.00%
Invested Capital Q/Q Growth
-0.35% 1.05% 1.00% 15.19% -1.07% -0.76% -8.65% -3.05% -6.11% 8.84% 0.00%
Profitability Metrics
- - - - - - - - - - -
Gross Margin
64.78% 62.29% 57.09% 56.14% 56.62% 61.26% 63.08% 58.78% 59.63% 57.26% 54.60%
EBITDA Margin
28.44% 28.65% 20.28% 14.73% 21.81% 23.68% 32.84% 29.81% 29.94% 26.96% 24.65%
Operating Margin
13.53% 11.77% 1.05% -3.20% 4.64% 14.48% 27.04% 23.71% 23.10% 20.62% 19.21%
EBIT Margin
14.73% 13.05% 1.20% -3.99% 5.32% 12.77% 26.49% 22.86% 22.49% 20.16% 17.94%
Profit (Net Income) Margin
8.06% 5.57% -3.03% -5.85% 1.20% 7.46% 25.73% 20.63% 14.79% 13.10% 11.57%
Tax Burden Percent
83.34% 74.24% 68.62% 66.36% 213.38% 91.91% 97.47% 90.75% 65.74% 65.01% 64.49%
Interest Burden Percent
65.68% 57.50% -368.86% 221.22% 10.61% 63.53% 99.65% 99.48% 100.00% 100.00% 100.00%
Effective Tax Rate
16.66% 25.76% 0.00% 0.00% -113.38% 8.09% 2.53% 9.25% 34.26% 34.99% 35.51%
Return on Invested Capital (ROIC)
4.94% 3.37% 0.24% -0.73% 3.43% 6.31% 68.32% 52.65% 33.60% 30.14% 40.92%
ROIC Less NNEP Spread (ROIC-NNEP)
-0.89% -1.69% -4.28% -4.53% -3.55% -2.15% 68.92% 53.61% 34.07% 30.47% 42.07%
Return on Net Nonoperating Assets (RNNOA)
-0.28% -0.54% -1.64% -2.01% -2.69% -1.05% -50.37% -37.08% -22.27% -20.58% -29.51%
Return on Equity (ROE)
4.66% 2.83% -1.40% -2.74% 0.73% 5.26% 17.95% 15.57% 11.33% 9.56% 11.42%
Cash Return on Invested Capital (CROIC)
-8.31% 6.11% -2.37% -19.88% 4.20% -173.07% 59.66% 26.61% 31.25% -52.49% -7.96%
Operating Return on Assets (OROA)
5.34% 4.17% 0.33% -1.04% 1.48% 4.42% 17.31% 16.18% 16.08% 13.50% 14.74%
Return on Assets (ROA)
2.92% 1.78% -0.84% -1.52% 0.33% 2.58% 16.81% 14.61% 10.57% 8.78% 9.51%
Return on Common Equity (ROCE)
4.66% 2.83% -1.40% -2.74% 0.73% 5.26% 17.95% 15.57% 11.33% 9.56% 7.90%
Return on Equity Simple (ROE_SIMPLE)
4.57% 2.74% -1.38% -2.39% 0.64% 3.85% 15.49% 13.68% 10.07% 8.17% 7.06%
Net Operating Profit after Tax (NOPAT)
135 87 6.34 -17 73 71 76 49 27 17 11
NOPAT Margin
11.28% 8.74% 0.74% -2.24% 9.89% 13.30% 26.36% 21.52% 15.19% 13.41% 12.39%
Net Nonoperating Expense Percent (NNEP)
5.84% 5.07% 4.53% 3.80% 6.97% 8.46% -0.60% -0.96% -0.47% -0.33% -1.15%
Return On Investment Capital (ROIC_SIMPLE)
4.21% 2.95% 0.22% - - - - - - - -
Cost of Revenue to Revenue
35.22% 37.71% 42.91% 43.86% 43.38% 38.74% 36.92% 41.22% 40.37% 42.74% 45.40%
SG&A Expenses to Revenue
11.02% 10.37% 11.31% 11.29% 11.52% 11.38% 11.50% 10.94% 11.30% 11.13% 9.50%
R&D to Revenue
19.96% 21.89% 22.44% 20.80% 17.01% 14.58% 12.20% 11.93% 12.54% 13.28% 11.95%
Operating Expenses to Revenue
51.25% 50.51% 56.03% 59.35% 51.98% 46.79% 36.04% 35.07% 36.52% 36.64% 35.40%
Earnings before Interest and Taxes (EBIT)
177 130 10 -30 39 68 76 52 40 26 16
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)
341 286 175 111 160 126 94 68 53 34 22
Valuation Ratios
- - - - - - - - - - -
Price to Book Value (P/BV)
4.52 3.19 2.72 2.41 4.67 4.54 8.15 8.87 10.48 6.10 7.89
Price to Tangible Book Value (P/TBV)
0.00 0.00 0.00 0.00 0.00 0.00 9.90 11.90 14.28 9.41 10.07
Price to Revenue (P/Rev)
7.98 6.49 5.98 5.91 8.77 8.80 13.54 13.38 15.39 9.79 12.94
Price to Earnings (P/E)
98.96 116.40 0.00 0.00 728.16 118.05 52.63 64.85 104.10 74.75 111.87
Dividend Yield
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield
1.01% 0.86% 0.00% 0.00% 0.14% 0.85% 1.90% 1.54% 0.96% 1.34% 0.89%
Enterprise Value to Invested Capital (EV/IC)
3.56 2.74 2.24 2.02 3.39 2.72 30.52 26.71 31.45 14.03 31.01
Enterprise Value to Revenue (EV/Rev)
8.64 7.01 6.82 6.84 9.77 10.86 12.28 12.33 14.38 8.82 11.68
Enterprise Value to EBITDA (EV/EBITDA)
30.40 24.46 33.64 46.41 44.77 45.87 37.40 41.38 48.04 32.71 47.39
Enterprise Value to EBIT (EV/EBIT)
58.71 53.68 569.36 0.00 183.61 85.08 46.37 53.96 63.94 43.75 65.10
Enterprise Value to NOPAT (EV/NOPAT)
76.66 80.16 927.52 0.00 98.72 81.65 46.60 57.32 94.69 65.79 94.31
Enterprise Value to Operating Cash Flow (EV/OCF)
30.52 28.85 39.03 36.69 39.45 55.04 31.10 34.65 56.27 42.13 68.21
Enterprise Value to Free Cash Flow (EV/FCFF)
0.00 44.25 0.00 0.00 80.52 0.00 53.37 113.42 101.82 0.00 0.00
Leverage & Solvency
- - - - - - - - - - -
Debt to Equity
0.52 0.45 0.52 0.50 0.77 1.25 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to Equity
0.52 0.45 0.51 0.50 0.72 1.21 0.00 0.00 0.00 0.00 0.00
Financial Leverage
0.32 0.32 0.38 0.44 0.76 0.49 -0.73 -0.69 -0.65 -0.68 -0.70
Leverage Ratio
1.59 1.59 1.65 1.80 2.19 2.04 1.07 1.07 1.07 1.09 1.20
Compound Leverage Factor
1.05 0.91 -6.10 3.98 0.23 1.30 1.06 1.06 1.07 1.09 1.20
Debt to Total Capital
34.19% 31.22% 34.18% 33.44% 43.49% 55.57% 0.00% 0.00% 0.00% 0.00% 0.00%
Short-Term Debt to Total Capital
0.00% 0.00% 0.61% 0.31% 2.56% 1.68% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital
34.19% 31.22% 33.57% 33.13% 40.93% 53.89% 0.00% 0.00% 0.00% 0.00% 0.00%
Preferred Equity to Total Capital
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital
65.81% 68.78% 65.82% 66.56% 56.51% 44.43% 100.00% 100.00% 100.00% 100.00% 100.00%
Debt to EBITDA
3.22 3.23 5.63 8.35 6.63 10.23 0.00 0.00 0.00 0.00 0.00
Net Debt to EBITDA
2.35 1.81 4.18 6.33 4.58 8.71 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to EBITDA
3.22 3.23 5.53 8.27 6.24 9.92 0.00 0.00 0.00 0.00 0.00
Debt to NOPAT
8.12 10.57 155.26 -54.86 14.62 18.21 0.00 0.00 0.00 0.00 0.00
Net Debt to NOPAT
5.93 5.95 115.15 -41.58 10.09 15.50 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to NOPAT
8.12 10.57 152.50 -54.35 13.76 17.66 0.00 0.00 0.00 0.00 0.00
Altman Z-Score
5.02 4.16 3.05 2.50 3.44 2.31 73.24 82.73 97.86 47.30 48.14
Noncontrolling Interest Sharing Ratio
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 30.79%
Liquidity Ratios
- - - - - - - - - - -
Current Ratio
3.06 4.76 2.92 2.29 2.25 1.96 13.58 12.95 12.79 11.82 14.12
Quick Ratio
2.65 4.35 2.68 2.04 1.96 1.73 13.33 12.78 12.57 11.41 13.60
Cash Flow Metrics
- - - - - - - - - - -
Free Cash Flow to Firm (FCFF)
-227 158 -61 -464 89 -1,941 66 25 25 -30 -2.12
Operating Cash Flow to CapEx
638.67% 567.13% 310.34% 196.88% 281.17% 318.79% 816.93% 515.86% 359.69% 286.25% 185.02%
Free Cash Flow to Firm to Interest Expense
-3.75 2.85 -1.27 -12.69 2.55 -78.35 244.83 91.10 0.00 0.00 0.00
Operating Cash Flow to Interest Expense
5.61 4.38 3.11 3.86 5.21 4.24 420.08 298.18 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense
4.73 3.61 2.11 1.90 3.36 2.91 368.66 240.38 0.00 0.00 0.00
Efficiency Ratios
- - - - - - - - - - -
Asset Turnover
0.36 0.32 0.28 0.26 0.28 0.35 0.65 0.71 0.72 0.67 0.82
Accounts Receivable Turnover
10.77 9.91 9.35 9.45 10.21 11.02 12.15 11.89 11.39 10.85 11.91
Inventory Turnover
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 118.84 87.05 78.51
Fixed Asset Turnover
259.35 105.92 47.57 28.83 23.44 25.51 35.77 35.30 41.12 41.69 38.46
Accounts Payable Turnover
32.01 29.06 17.85 22.76 113.78 54.96 35.71 33.54 25.48 29.02 21.73
Days Sales Outstanding (DSO)
33.91 36.83 39.02 38.64 35.73 33.11 30.03 30.69 32.03 33.63 30.66
Days Inventory Outstanding (DIO)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3.07 4.19 4.65
Days Payable Outstanding (DPO)
11.40 12.56 20.45 16.04 3.21 6.64 10.22 10.88 14.32 12.58 16.80
Cash Conversion Cycle (CCC)
22.50 24.27 18.57 22.61 32.52 26.47 19.81 19.81 20.78 25.25 18.51
Capital & Investment Metrics
- - - - - - - - - - -
Invested Capital
2,917 2,555 2,626 2,558 2,111 2,127 116 106 82 80 33
Invested Capital Turnover
0.44 0.39 0.33 0.32 0.35 0.47 2.59 2.45 2.21 2.25 3.30
Increase / (Decrease) in Invested Capital
363 -71 68 447 -16 2,012 9.60 24 1.90 47 13
Enterprise Value (EV)
10,372 7,005 5,880 5,173 7,165 5,779 3,528 2,831 2,565 1,118 1,026
Market Capitalization
9,569 6,485 5,150 4,468 6,433 4,682 3,889 3,071 2,746 1,242 1,137
Book Value per Share
$24.40 $23.72 $22.40 $22.16 $17.91 $14.54 $7.65 $5.71 $4.41 $3.53 $2.63
Tangible Book Value per Share
($8.51) ($5.23) ($8.14) ($9.17) ($9.29) ($15.32) $6.30 $4.25 $3.24 $2.29 $2.06
Total Capital
3,213 2,959 2,880 2,783 2,440 2,319 477 346 262 203 144
Total Debt
1,099 924 984 931 1,061 1,289 0.00 0.00 0.00 0.00 0.00
Total Long-Term Debt
1,099 924 967 922 998 1,250 0.00 0.00 0.00 0.00 0.00
Net Debt
803 520 730 705 732 1,097 -361 -240 -180 -124 -111
Capital Expenditures (CapEx)
53 43 49 72 65 33 14 16 13 9.27 8.13
Debt-free, Cash-free Net Working Capital (DFCFNWC)
25 36 15 -19 -11 -7.30 4.15 4.64 4.76 7.17 4.88
Debt-free Net Working Capital (DFNWC)
321 440 269 207 318 184 366 245 185 131 116
Net Working Capital (NWC)
321 440 252 198 255 145 366 245 185 131 116
Net Nonoperating Expense (NNE)
39 32 32 27 64 31 1.81 2.02 0.72 0.38 0.72
Net Nonoperating Obligations (NNO)
803 520 730 705 732 1,097 -361 -240 -180 -124 -111
Total Depreciation and Amortization (D&A)
165 156 164 142 121 58 18 16 13 8.62 5.89
Debt-free, Cash-free Net Working Capital to Revenue
2.12% 3.64% 1.75% -2.45% -1.48% -1.37% 1.44% 2.02% 2.67% 5.65% 5.56%
Debt-free Net Working Capital to Revenue
26.79% 44.05% 31.25% 27.35% 43.35% 34.67% 127.29% 106.70% 103.78% 103.28% 131.91%
Net Working Capital to Revenue
26.79% 44.05% 29.22% 26.19% 34.83% 27.32% 127.29% 106.70% 103.78% 103.28% 131.91%
Earnings Adjustments
- - - - - - - - - - -
Adjusted Basic Earnings per Share
$1.11 $0.65 ($0.31) ($0.53) $0.12 $0.59 $1.20 $0.79 $0.45 $0.29 $0.39
Adjusted Weighted Average Basic Shares Outstanding
86.87M 85.56M 84.44M 83.13M 74.24M 67.03M 61.84M 60.30M 58.62M 56.72M 31.18M
Adjusted Diluted Earnings per Share
$1.09 $0.64 ($0.31) ($0.53) $0.12 $0.58 $1.17 $0.77 $0.44 $0.28 $0.21
Adjusted Weighted Average Diluted Shares Outstanding
88.83M 86.96M 84.44M 83.13M 75.68M 68.45M 63.37M 61.85M 59.89M 58.86M 51.86M
Adjusted Basic & Diluted Earnings per Share
$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding
86.50M 86.16M 84.78M 83.82M 83.02M 71.08M 62.47M 60.95M 59.63M 57.77M 55.07M
Normalized Net Operating Profit after Tax (NOPAT)
169 95 26 28 56 100 76 49 27 17 11
Normalized NOPAT Margin
14.09% 9.52% 3.06% 3.75% 7.63% 18.85% 26.36% 21.52% 15.19% 13.41% 12.39%
Pre Tax Income Margin
9.67% 7.51% -4.42% -8.82% 0.56% 8.11% 26.40% 22.74% 22.49% 20.16% 17.94%
Debt Service Ratios
- - - - - - - - - - -
EBIT to Interest Expense
2.91 2.35 0.21 -0.82 1.12 2.74 281.81 191.47 0.00 0.00 0.00
NOPAT to Interest Expense
2.23 1.58 0.13 -0.46 2.08 2.86 280.39 180.24 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense
2.04 1.58 -0.79 -2.78 -0.73 1.41 230.39 133.67 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense
1.35 0.80 -0.87 -2.42 0.23 1.53 228.96 122.43 0.00 0.00 0.00
Payout Ratios
- - - - - - - - - - -
Dividend Payout Ratio
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 495.25%
Augmented Payout Ratio
125.64% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 1.91% 495.25%

Quarterly Metrics And Ratios for HealthEquity

This table displays calculated financial ratios and metrics derived from HealthEquity's official financial filings.

Metric Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023
Period end date 1/31/2025 10/31/2024 7/31/2024 4/30/2024 1/31/2024 10/31/2023 7/31/2023 4/30/2023 1/31/2023 10/31/2022 7/31/2022
Growth Metrics
- - - - - - - - - - -
Revenue Growth
18.84% 20.55% 23.15% 17.66% 12.21% 15.33% 18.15% 18.84% 15.02% 20.08% 9.01%
EBITDA Growth
3.28% -10.44% 59.92% 30.61% 47.44% 54.55% 69.75% 98.21% 737.40% 26.35% 16.03%
EBIT Growth
4.29% -29.62% 125.64% 80.07% 202.93% 478.65% 1,255.29% 429.50% 143.35% 117.16% -348.21%
NOPAT Growth
7.51% -16.26% 146.06% 280.70% 109.99% 454.08% 1,190.01% 285.78% -1,710.06% 1,614.21% -175.66%
Net Income Growth
0.00% -61.13% 238.55% 603.79% 12,714.35% 994.15% 199.31% 130.02% 99.36% 67.43% -179.05%
EPS Growth
0.00% -64.71% 233.33% 560.00% 0.00% 950.00% 192.31% 131.25% 0.00% 66.67% -160.00%
Operating Cash Flow Growth
-1.72% 58.56% 40.23% 107.46% 38.89% 19.14% 92.05% 345.64% 9.76% 115.22% 7.79%
Free Cash Flow Firm Growth
-408.87% -510.50% -493.06% -266.27% 125.53% 124.78% 121.85% 124.47% 11.42% -329.95% -9,014.75%
Invested Capital Growth
14.20% 15.81% 17.56% 9.92% -2.70% -2.75% -3.18% -4.54% 2.65% 17.07% 21.54%
Revenue Q/Q Growth
3.79% 0.17% 4.29% 9.61% 5.28% 2.33% -0.36% 4.53% 8.22% 4.82% 0.23%
EBITDA Q/Q Growth
29.31% -38.45% 25.63% 3.30% 12.13% 9.89% 2.61% 16.61% 17.54% 20.70% 19.81%
EBIT Q/Q Growth
85.53% -60.72% 37.77% 3.87% 25.20% 25.95% 9.94% 74.73% 139.15% 351.47% 68.64%
NOPAT Q/Q Growth
106.07% -60.25% 25.49% 4.60% 60.50% 16.80% 94.15% 102.75% -9,000.04% 329.77% 66.91%
Net Income Q/Q Growth
362.30% -84.08% 24.33% 9.29% 79.68% 38.67% 158.45% 2,058.85% 87.26% 84.60% 21.89%
EPS Q/Q Growth
400.00% -85.00% 21.21% 10.00% 76.47% 41.67% 140.00% 0.00% 0.00% 84.62% 18.75%
Operating Cash Flow Q/Q Growth
-16.35% -16.26% 65.26% -15.11% 34.96% -25.94% 144.49% -43.17% 15.77% 19.39% 467.32%
Free Cash Flow Firm Q/Q Growth
14.67% 4.50% -82.83% -307.31% 13.41% -8.56% -22.66% 131.83% -10.09% 19.38% 13.38%
Invested Capital Q/Q Growth
-0.35% -1.68% 5.57% 10.40% 1.05% -0.18% -1.29% -2.28% 1.00% -0.63% -2.67%
Profitability Metrics
- - - - - - - - - - -
Gross Margin
60.63% 65.58% 68.03% 65.07% 62.24% 63.87% 62.27% 60.74% 58.20% 58.71% 57.15%
EBITDA Margin
27.15% 21.79% 35.47% 29.44% 31.24% 29.33% 27.31% 26.52% 23.77% 21.89% 19.01%
Operating Margin
13.52% 6.53% 19.65% 14.48% 14.82% 12.40% 10.16% 9.48% 5.65% 2.56% -1.17%
EBIT Margin
14.50% 8.11% 20.69% 15.66% 16.52% 13.90% 11.29% 10.23% 6.12% 2.77% -1.15%
Profit (Net Income) Margin
8.46% 1.90% 11.94% 10.02% 10.05% 5.89% 4.34% 1.67% -0.09% -0.76% -5.17%
Tax Burden Percent
88.00% 91.72% 76.84% 86.68% 88.72% 69.58% 74.39% 40.89% -2,612.50% 26.55% 76.80%
Interest Burden Percent
66.26% 25.51% 75.14% 73.81% 68.54% 60.89% 51.73% 40.03% 0.06% -103.26% 582.90%
Effective Tax Rate
12.00% 8.28% 23.16% 13.32% 11.28% 30.42% 25.61% 59.11% 2,712.50% 0.00% 0.00%
Return on Invested Capital (ROIC)
5.22% 2.53% 6.02% 4.86% 5.07% 3.27% 2.75% 1.33% -49.09% 0.62% -0.27%
ROIC Less NNEP Spread (ROIC-NNEP)
3.59% 0.70% 4.68% 3.80% 3.77% 2.18% 1.58% 0.60% -1.02% -0.42% -2.00%
Return on Net Nonoperating Assets (RNNOA)
1.15% 0.23% 1.60% 1.29% 1.20% 0.71% 0.55% 0.24% -0.39% -0.12% -0.56%
Return on Equity (ROE)
6.36% 2.75% 7.62% 6.15% 6.27% 3.97% 3.31% 1.57% -49.48% 0.50% -0.83%
Cash Return on Invested Capital (CROIC)
-8.31% -9.78% -11.15% -5.32% 6.11% 5.09% 5.07% 5.70% -2.37% -16.64% -20.54%
Operating Return on Assets (OROA)
5.26% 2.84% 6.91% 5.20% 5.28% 4.38% 3.45% 3.02% 1.70% 0.75% -0.30%
Return on Assets (ROA)
3.07% 0.66% 3.99% 3.33% 3.21% 1.86% 1.33% 0.49% -0.02% -0.20% -1.32%
Return on Common Equity (ROCE)
6.36% 2.75% 7.62% 6.15% 6.27% 3.97% 3.31% 1.57% -49.48% 0.50% -0.83%
Return on Equity Simple (ROE_SIMPLE)
0.00% 4.55% 4.90% 3.83% 0.00% 1.47% 0.66% -0.44% 0.00% -3.12% -3.33%
Net Operating Profit after Tax (NOPAT)
37 18 45 36 34 21 18 9.48 -345 3.88 -1.69
NOPAT Margin
11.90% 5.99% 15.10% 12.55% 13.15% 8.62% 7.56% 3.88% -147.65% 1.80% -0.82%
Net Nonoperating Expense Percent (NNEP)
1.62% 1.83% 1.35% 1.06% 1.30% 1.09% 1.17% 0.73% -48.08% 1.04% 1.72%
Return On Investment Capital (ROIC_SIMPLE)
1.15% - - - 1.17% - - - -11.99% - -
Cost of Revenue to Revenue
39.37% 34.42% 31.97% 34.93% 37.76% 36.13% 37.73% 39.26% 41.80% 41.29% 42.85%
SG&A Expenses to Revenue
9.61% 10.58% 10.76% 13.30% 8.82% 10.90% 11.42% 10.45% 9.70% 11.63% 12.58%
R&D to Revenue
20.73% 20.03% 19.53% 19.50% 21.05% 22.32% 22.49% 21.76% 22.55% 22.63% 22.60%
Operating Expenses to Revenue
47.11% 59.05% 48.39% 50.59% 47.42% 51.48% 52.11% 51.26% 52.55% 56.14% 58.32%
Earnings before Interest and Taxes (EBIT)
45 24 62 45 43 35 27 25 14 5.99 -2.38
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)
85 65 106 85 82 73 67 65 56 47 39
Valuation Ratios
- - - - - - - - - - -
Price to Book Value (P/BV)
4.52 3.50 3.17 3.24 3.19 3.09 2.98 2.36 2.72 3.50 2.63
Price to Tangible Book Value (P/TBV)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Price to Revenue (P/Rev)
7.98 6.47 6.21 6.52 6.49 6.32 6.19 5.03 5.98 7.92 6.17
Price to Earnings (P/E)
98.96 76.98 64.62 84.53 116.40 210.64 452.78 0.00 0.00 0.00 0.00
Dividend Yield
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield
1.01% 1.30% 1.55% 1.18% 0.86% 0.47% 0.22% 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)
3.56 2.82 2.57 2.67 2.74 2.64 2.52 2.02 2.24 2.81 2.16
Enterprise Value to Revenue (EV/Rev)
8.64 7.17 6.96 7.21 7.01 6.88 6.81 5.75 6.82 8.79 7.12
Enterprise Value to EBITDA (EV/EBITDA)
30.40 24.37 22.10 24.56 24.46 25.68 27.28 25.03 33.64 58.03 48.80
Enterprise Value to EBIT (EV/EBIT)
58.71 47.18 41.33 49.97 53.68 65.83 87.77 120.65 569.36 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)
76.66 62.08 55.53 67.50 80.16 112.89 134.98 187.18 927.52 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)
30.52 24.17 24.86 27.18 28.85 30.18 30.13 29.58 39.03 50.11 47.14
Enterprise Value to Free Cash Flow (EV/FCFF)
0.00 0.00 0.00 0.00 44.25 51.13 48.93 34.61 0.00 0.00 0.00
Leverage & Solvency
- - - - - - - - - - -
Debt to Equity
0.52 0.53 0.53 0.46 0.45 0.44 0.45 0.46 0.52 0.49 0.50
Long-Term Debt to Equity
0.52 0.53 0.53 0.46 0.45 0.44 0.45 0.46 0.51 0.48 0.49
Financial Leverage
0.32 0.33 0.34 0.34 0.32 0.32 0.35 0.39 0.38 0.28 0.28
Leverage Ratio
1.59 1.60 1.60 1.56 1.59 1.59 1.61 1.62 1.65 1.64 1.67
Compound Leverage Factor
1.06 0.41 1.20 1.15 1.09 0.97 0.83 0.65 0.00 -1.70 9.73
Debt to Total Capital
34.19% 34.62% 34.73% 31.71% 31.22% 30.55% 30.94% 31.27% 34.18% 32.98% 33.23%
Short-Term Debt to Total Capital
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.61% 0.55% 0.47%
Long-Term Debt to Total Capital
34.19% 34.62% 34.73% 31.71% 31.22% 30.55% 30.94% 31.27% 33.57% 32.44% 32.76%
Preferred Equity to Total Capital
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital
65.81% 65.38% 65.27% 68.29% 68.78% 69.46% 69.06% 68.73% 65.82% 67.02% 66.77%
Debt to EBITDA
3.22 3.32 3.32 3.18 3.23 3.36 3.73 4.22 5.63 7.36 8.00
Net Debt to EBITDA
2.35 2.37 2.37 2.36 1.81 2.08 2.49 3.13 4.18 5.69 6.48
Long-Term Debt to EBITDA
3.22 3.32 3.32 3.18 3.23 3.36 3.73 4.22 5.53 7.24 7.89
Debt to NOPAT
8.12 8.47 8.33 8.74 10.57 14.78 18.45 31.55 155.26 -42.15 -35.53
Net Debt to NOPAT
5.93 6.05 5.96 6.49 5.95 9.13 12.32 23.39 115.15 -32.59 -28.76
Long-Term Debt to NOPAT
8.12 8.47 8.33 8.74 10.57 14.78 18.45 31.55 152.50 -41.45 -35.03
Altman Z-Score
4.89 3.84 3.62 4.13 4.07 3.91 3.66 2.94 3.05 3.78 2.83
Noncontrolling Interest Sharing Ratio
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios
- - - - - - - - - - -
Current Ratio
3.06 3.20 4.10 4.39 4.76 4.93 4.09 4.00 2.92 3.01 2.46
Quick Ratio
2.65 2.78 3.60 3.88 4.35 4.47 3.71 3.61 2.68 2.70 2.13
Cash Flow Metrics
- - - - - - - - - - -
Free Cash Flow to Firm (FCFF)
-326 -382 -400 -219 105 93 102 131 -413 -375 -465
Operating Cash Flow to CapEx
558.74% 703.85% 834.07% 473.20% 683.88% 469.52% 752.34% 345.24% 540.48% 410.46% 339.99%
Free Cash Flow to Firm to Interest Expense
-21.34 -21.02 -25.90 -18.53 7.73 6.86 7.66 8.76 -28.87 -30.84 -40.49
Operating Cash Flow to Interest Expense
4.96 4.99 7.01 5.55 5.65 4.22 5.81 2.10 3.88 3.94 3.49
Operating Cash Flow Less CapEx to Interest Expense
4.08 4.28 6.17 4.37 4.82 3.32 5.04 1.49 3.16 2.98 2.47
Efficiency Ratios
- - - - - - - - - - -
Asset Turnover
0.36 0.35 0.33 0.33 0.32 0.32 0.31 0.30 0.28 0.27 0.26
Accounts Receivable Turnover
10.77 11.34 10.93 10.19 9.91 10.56 10.25 9.77 9.35 9.68 9.66
Inventory Turnover
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover
259.35 199.19 160.02 133.56 105.92 83.42 69.03 57.11 47.57 41.00 35.02
Accounts Payable Turnover
32.01 33.55 33.36 24.20 29.06 25.67 26.41 27.48 17.85 35.00 34.71
Days Sales Outstanding (DSO)
33.91 32.19 33.38 35.81 36.83 34.56 35.61 37.37 39.02 37.72 37.79
Days Inventory Outstanding (DIO)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)
11.40 10.88 10.94 15.08 12.56 14.22 13.82 13.28 20.45 10.43 10.52
Cash Conversion Cycle (CCC)
22.50 21.31 22.44 20.73 24.27 20.35 21.79 24.09 18.57 27.29 27.28
Capital & Investment Metrics
- - - - - - - - - - -
Invested Capital
2,917 2,928 2,978 2,820 2,555 2,528 2,533 2,566 2,626 2,600 2,616
Invested Capital Turnover
0.44 0.42 0.40 0.39 0.39 0.38 0.36 0.34 0.33 0.34 0.33
Increase / (Decrease) in Invested Capital
363 400 445 255 -71 -71 -83 -122 68 379 464
Enterprise Value (EV)
10,372 8,247 7,649 7,521 7,005 6,678 6,390 5,179 5,880 7,302 5,659
Market Capitalization
9,569 7,444 6,829 6,799 6,485 6,138 5,807 4,532 5,150 6,586 4,908
Book Value per Share
$24.40 $24.33 $24.79 $24.35 $23.72 $23.22 $22.81 $22.63 $22.40 $22.28 $22.10
Tangible Book Value per Share
($8.51) ($8.61) ($8.57) ($7.22) ($5.23) ($6.08) ($6.79) ($7.52) ($8.14) ($8.60) ($9.16)
Total Capital
3,213 3,250 3,305 3,072 2,959 2,862 2,823 2,791 2,880 2,810 2,793
Total Debt
1,099 1,125 1,148 974 924 874 874 873 984 927 928
Total Long-Term Debt
1,099 1,125 1,148 974 924 874 874 873 967 911 915
Net Debt
803 803 821 723 520 540 583 647 730 717 751
Capital Expenditures (CapEx)
14 13 13 14 11 12 10 9.14 10 12 12
Debt-free, Cash-free Net Working Capital (DFCFNWC)
25 19 48 61 36 44 29 43 15 27 19
Debt-free Net Working Capital (DFNWC)
321 341 375 313 440 378 319 269 269 237 196
Net Working Capital (NWC)
321 341 375 313 440 378 319 269 252 222 183
Net Nonoperating Expense (NNE)
11 12 9.46 7.27 8.14 6.82 7.82 5.38 -345 5.52 8.97
Net Nonoperating Obligations (NNO)
803 803 821 723 520 540 583 647 730 717 751
Total Depreciation and Amortization (D&A)
39 41 44 40 39 38 39 40 41 41 42
Debt-free, Cash-free Net Working Capital to Revenue
2.12% 1.61% 4.35% 5.89% 3.64% 4.54% 3.09% 4.79% 1.75% 3.24% 2.43%
Debt-free Net Working Capital to Revenue
26.79% 29.62% 34.09% 29.99% 44.05% 38.95% 34.04% 29.84% 31.25% 28.52% 24.68%
Net Working Capital to Revenue
26.79% 29.62% 34.09% 29.99% 44.05% 38.95% 34.04% 29.84% 29.22% 26.68% 23.03%
Earnings Adjustments
- - - - - - - - - - -
Adjusted Basic Earnings per Share
$0.30 $0.07 $0.41 $0.33 $0.31 $0.17 $0.12 $0.05 $0.00 ($0.02) ($0.13)
Adjusted Weighted Average Basic Shares Outstanding
86.87M 87.19M 87.13M 86.47M 85.56M 85.70M 85.53M 85.03M 84.44M 84.57M 84.44M
Adjusted Diluted Earnings per Share
$0.30 $0.06 $0.40 $0.33 $0.30 $0.17 $0.12 $0.05 $0.00 ($0.02) ($0.13)
Adjusted Weighted Average Diluted Shares Outstanding
88.83M 88.63M 88.65M 88.32M 86.96M 87.12M 86.34M 86.10M 84.44M 84.57M 84.44M
Adjusted Basic & Diluted Earnings per Share
$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding
86.50M 86.66M 87.32M 87.01M 86.16M 85.80M 85.63M 85.47M 84.78M 84.64M 84.53M
Normalized Net Operating Profit after Tax (NOPAT)
39 50 47 38 37 23 20 19 13 8.44 3.69
Normalized NOPAT Margin
12.51% 16.50% 15.55% 13.19% 13.92% 9.37% 8.18% 7.63% 5.49% 3.90% 1.79%
Pre Tax Income Margin
9.61% 2.07% 15.54% 11.56% 11.33% 8.46% 5.84% 4.10% 0.00% -2.86% -6.73%
Debt Service Ratios
- - - - - - - - - - -
EBIT to Interest Expense
2.96 1.34 4.02 3.82 3.18 2.56 2.07 1.67 1.00 0.49 -0.21
NOPAT to Interest Expense
2.43 0.99 2.94 3.06 2.53 1.59 1.39 0.63 -24.14 0.32 -0.15
EBIT Less CapEx to Interest Expense
2.08 0.63 3.18 2.65 2.35 1.66 1.30 1.06 0.28 -0.47 -1.23
NOPAT Less CapEx to Interest Expense
1.54 0.28 2.10 1.89 1.70 0.69 0.61 0.02 -24.85 -0.64 -1.17
Payout Ratios
- - - - - - - - - - -
Dividend Payout Ratio
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio
125.64% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

Frequently Asked Questions About HealthEquity's Financials

When does HealthEquity's financial year end?

According to the most recent income statement we have on file, HealthEquity's fiscal year ends in January. Their fiscal year 2025 ended on January 31, 2025.

How has HealthEquity's net income changed over the last 10 years?

HealthEquity's net income appears to be on an upward trend, with a most recent value of $96.70 million in 2025, rising from $10.17 million in 2015. The previous period was $55.71 million in 2024. Check out HealthEquity's forecast to explore projected trends and price targets.

What is HealthEquity's operating income?
HealthEquity's total operating income in 2025 was $162.33 million, based on the following breakdown:
  • Total Gross Profit: $777.26 million
  • Total Operating Expenses: $614.93 million
How has HealthEquity revenue changed over the last 10 years?

Over the last 10 years, HealthEquity's total revenue changed from $87.86 million in 2015 to $1.20 billion in 2025, a change of 1,265.6%.

How much debt does HealthEquity have?

HealthEquity's total liabilities were at $1.33 billion at the end of 2025, a 18.1% increase from 2024, and a 8,988.4% increase since 2015.

How much cash does HealthEquity have?

In the past 10 years, HealthEquity's cash and equivalents has ranged from $83.64 million in 2016 to $403.98 million in 2024, and is currently $295.95 million as of their latest financial filing in 2025.

How has HealthEquity's book value per share changed over the last 10 years?

Over the last 10 years, HealthEquity's book value per share changed from 2.63 in 2015 to 24.40 in 2025, a change of 827.3%.



This page (NASDAQ:HQY) was last updated on 5/28/2025 by MarketBeat.com Staff
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