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HealthEquity (HQY) Financials

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$83.25 +0.62 (+0.75%)
Closing price 04:00 PM Eastern
Extended Trading
$83.24 -0.01 (-0.01%)
As of 04:25 PM Eastern
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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 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026
Period end date 1/31/2016 1/31/2017 1/31/2018 1/31/2019 1/31/2020 1/31/2021 1/31/2022 1/31/2023 1/31/2024 1/31/2025 1/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 17 26 47 74 40 8.83 -44 -26 56 97 215
Consolidated Net Income / (Loss)		 17 26 47 74 40 8.83 -44 -26 56 97 215
Net Income / (Loss) Continuing Operations		 17 26 47 74 40 8.83 -44 -26 56 97 215
Total Pre-Tax Income 		26 40 52 76 43 4.14 -67 -38 75 116 277
Total Operating Income		 26 41 54 78 77 34 -24 9.06 118 162 322
Total Gross Profit		 73 106 135 181 326 415 425 492 623 777 913
Total Revenue		 127 178 230 287 532 734 757 862 1,000 1,200 1,313
Operating Revenue		 127 178 230 287 532 734 757 862 1,000 1,200 1,313
Total Cost of Revenue		 54 72 95 106 206 318 332 370 377 423 400
Operating Cost of Revenue		 54 72 95 106 206 318 332 370 377 423 400
Total Operating Expenses		 46 65 80 104 249 381 449 483 505 615 591
Selling, General & Admin Expense		 14 20 25 33 61 84 85 97 104 132 120
Marketing Expense		 13 18 23 29 44 50 59 69 79 91 95
Research & Development Expense		 17 22 27 35 78 125 157 193 219 240 263
Amortization Expense		 2.21 4.30 4.86 5.93 35 76 83 95 93 112 108
Restructuring Charge		 - - 0.00 0.00 32 46 65 29 10 41 5.02
Total Other Income / (Expense), net		 -0.59 -1.09 -2.23 -1.85 -34 -30 -43 -47 -43 -46 -45
Interest Expense		 - - 0.27 0.27 25 35 37 48 55 61 57
Other Income / (Expense), net		 -0.59 -1.09 -1.96 -1.58 -9.08 5.01 -5.93 1.27 13 14 12
Income Tax Expense		 8.94 14 4.83 1.92 3.49 -4.69 -22 -12 19 19 62
Basic Earnings per Share		 $0.29 $0.45 $0.79 $1.20 $0.59 $0.12 ($0.53) ($0.31) $0.65 $1.11 $2.50
Weighted Average Basic Shares Outstanding		 56.72M 58.62M 60.30M 61.84M 67.03M 74.24M 83.13M 84.44M 85.56M 86.87M 86.13M
Diluted Earnings per Share		 $0.28 $0.44 $0.77 $1.17 $0.58 $0.12 ($0.53) ($0.31) $0.64 $1.09 $2.46
Weighted Average Diluted Shares Outstanding		 58.86M 59.89M 61.85M 63.37M 68.45M 75.68M 83.13M 84.44M 86.96M 88.83M 87.47M
Weighted Average Basic & Diluted Shares Outstanding		 57.30M 58.60M 60M 61.60M 71.08M 83.02M 83.82M 84.78M 86.16M 86.50M 84.48M

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 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 Q4 2026
Period end date 7/31/2023 10/31/2023 1/31/2024 4/30/2024 7/31/2024 10/31/2024 1/31/2025 4/30/2025 7/31/2025 10/31/2025 1/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 11 15 26 29 36 5.70 26 54 60 52 50
Consolidated Net Income / (Loss)		 11 15 26 29 36 5.70 26 54 60 52 50
Net Income / (Loss) Continuing Operations		 11 15 26 29 36 5.70 26 54 60 52 50
Total Pre-Tax Income 		14 21 30 33 47 6.22 30 71 78 68 61
Total Operating Income		 25 31 39 42 59 20 42 83 90 79 71
Total Gross Profit		 152 159 163 187 204 197 189 224 233 228 228
Total Revenue		 244 249 262 288 300 300 312 331 326 322 335
Operating Revenue		 244 249 262 288 300 300 312 331 326 322 335
Total Cost of Revenue		 92 90 99 100 96 103 123 107 93 94 106
Operating Cost of Revenue		 92 90 99 100 96 103 123 107 93 94 106
Total Operating Expenses		 127 128 124 146 145 177 147 141 143 149 157
Selling, General & Admin Expense		 28 27 23 38 32 32 30 26 30 31 34
Marketing Expense		 19 20 21 23 22 23 23 26 20 24 25
Research & Development Expense		 55 56 55 56 59 60 65 61 65 66 70
Amortization Expense		 23 23 23 26 31 28 27 27 27 27 27
Restructuring Charge		 2.04 2.66 2.28 2.14 1.78 34 2.18 1.28 1.27 1.16 1.32
Total Other Income / (Expense), net		 -11 -9.80 -9.17 -8.39 -12 -13 -12 -12 -12 -11 -10
Interest Expense		 13 14 14 12 15 18 15 15 15 14 13
Other Income / (Expense), net		 2.76 3.74 4.47 3.40 3.11 4.75 3.07 2.73 3.39 2.89 3.10
Income Tax Expense		 3.64 6.41 3.35 4.43 11 0.52 3.60 17 18 16 11
Basic Earnings per Share		 $0.12 $0.17 $0.31 $0.33 $0.41 $0.07 $0.30 $0.62 $0.69 $0.60 $0.59
Weighted Average Basic Shares Outstanding		 85.53M 85.70M 85.56M 86.47M 87.13M 87.19M 86.87M 86.66M 86.55M 86.00M 86.13M
Diluted Earnings per Share		 $0.12 $0.17 $0.30 $0.33 $0.40 $0.06 $0.30 $0.61 $0.68 $0.59 $0.58
Weighted Average Diluted Shares Outstanding		 86.34M 87.12M 86.96M 88.32M 88.65M 88.63M 88.83M 88.42M 87.75M 86.97M 87.47M
Weighted Average Basic & Diluted Shares Outstanding		 85.63M 85.80M 86.16M 87.01M 87.32M 86.66M 86.50M 86.48M 86.16M 85.44M 84.48M

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 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026
Period end date 1/31/2016 1/31/2017 1/31/2018 1/31/2019 1/31/2020 1/31/2021 1/31/2022 1/31/2023 1/31/2024 1/31/2025 1/31/2026
Net Change in Cash & Equivalents		 -27 56 60 162 -170 137 -103 29 150 -108 23
Net Cash From Operating Activities		 27 46 82 113 105 182 141 151 243 340 457
Net Cash From Continuing Operating Activities		 27 46 82 113 105 182 141 151 243 340 457
Net Income / (Loss) Continuing Operations		 17 26 47 74 40 8.83 -44 -26 56 97 215
Consolidated Net Income / (Loss)		 17 26 47 74 40 8.83 -44 -26 56 97 215
Depreciation Expense		 8.60 13 16 18 55 116 137 161 153 162 155
Amortization Expense		 0.02 0.10 - 0.06 2.71 5.10 4.45 3.26 2.85 2.07 1.06
Non-Cash Adjustments To Reconcile Net Income		 5.91 8.43 15 22 19 56 83 71 88 105 80
Changes in Operating Assets and Liabilities, net		 -4.60 -2.50 3.48 -0.56 -12 -3.99 -39 -59 -57 -26 6.33
Net Cash From Investing Activities		 -91 -13 -37 26 -1,740 -97 -639 -119 -46 -505 -47
Net Cash From Continuing Investing Activities		 -91 -13 -37 26 -1,740 -97 -639 -119 -46 -505 -47
Purchase of Property, Plant & Equipment		 -9.27 -13 -16 -14 -33 -65 -72 -49 -43 -53 -48
Acquisitions		 -40 0.00 -20 -1.00 -1,654 -32 -570 -71 -3.26 -452 -0.29
Purchase of Investments		 -41 -0.38 -0.48 -0.73 -54 - - - 0.00 0.00 1.64
Net Cash From Financing Activities		 37 24 15 23 1,466 52 395 -2.67 -47 58 -387
Net Cash From Continuing Financing Activities		 37 24 15 23 1,466 52 395 -2.67 -47 58 -387
Repayment of Debt		 - - 0.00 0.00 -38 -239 -1,015 -8.75 -54 -566 -100
Repurchase of Common Equity		 -0.32 - - - - - - 0.00 0.00 -121 -299
Issuance of Debt		 23 - 0.00 0.00 1,250 0.00 950 0.00 0.00 737 0.00
Other Financing Activities, net		 13 24 15 23 -204 4.71 3.75 6.08 7.34 7.81 12
Cash Interest Paid		 0.05 0.21 0.20 0.20 22 28 16 44 50 59 52
Cash Income Taxes Paid		 1.36 0.86 0.03 0.59 9.28 -6.02 -5.63 1.53 35 26 8.04

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 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 Q4 2026
Period end date 7/31/2023 10/31/2023 1/31/2024 4/30/2024 7/31/2024 10/31/2024 1/31/2025 4/30/2025 7/31/2025 10/31/2025 1/31/2026
Net Change in Cash & Equivalents		 65 44 70 -153 76 -4.73 -26 -8.05 17 4.80 9.67
Net Cash From Operating Activities		 77 57 77 65 108 91 76 65 136 139 118
Net Cash From Continuing Operating Activities		 77 57 77 65 108 91 76 65 136 139 118
Net Income / (Loss) Continuing Operations		 11 15 26 29 36 5.70 26 54 60 52 50
Consolidated Net Income / (Loss)		 11 15 26 29 36 5.70 26 54 60 52 50
Depreciation Expense		 38 38 38 39 44 41 39 39 38 39 39
Amortization Expense		 0.68 0.69 0.70 0.70 0.73 0.38 0.26 0.27 0.27 0.27 0.26
Non-Cash Adjustments To Reconcile Net Income		 25 23 19 34 23 24 23 16 21 22 21
Changes in Operating Assets and Liabilities, net		 2.68 -19 -7.07 -37 4.77 19 -13 -44 17 26 8.38
Net Cash From Investing Activities		 -10 -15 -11 -270 -209 -13 -14 -16 -11 -11 -8.44
Net Cash From Continuing Investing Activities		 -10 -15 -11 -270 -209 -13 -14 -16 -11 -11 -8.44
Purchase of Property, Plant & Equipment		 -10 -12 -11 -14 -13 -13 -14 -16 -11 -11 -10
Net Cash From Financing Activities		 -2.16 2.03 4.12 52 177 -82 -88 -57 -108 -122 -100
Net Cash From Continuing Financing Activities		 -2.16 2.03 4.12 52 177 -82 -88 -57 -108 -122 -100
Repayment of Debt		 - - - - - -541 -25 - - -25 -25
Repurchase of Common Equity		 - - - 0.00 - - -63 -59 -67 -92 -81
Other Financing Activities, net		 -2.16 2.03 4.12 1.77 1.62 4.85 -0.43 2.42 8.63 -4.97 6.21
Cash Interest Paid		 4.01 21 5.37 19 8.12 23 8.38 21 7.55 18 5.79
Cash Income Taxes Paid		 15 9.66 11 0.28 13 10 2.25 -0.05 6.55 0.84 0.69

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 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026
Period end date 1/31/2016 1/31/2017 1/31/2018 1/31/2019 1/31/2020 1/31/2021 1/31/2022 1/31/2023 1/31/2024 1/31/2025 1/31/2026
Total Assets		 220 279 369 510 2,565 2,710 3,107 3,089 3,164 3,449 3,380
Total Current Assets		 143 201 265 395 297 460 351 383 557 478 512
Cash & Equivalents		 84 140 199 361 192 329 225 254 404 296 319
Accounts Receivable		 14 17 22 26 71 73 87 97 105 118 124
Prepaid Expenses		 - - - - - - - - - 64 70
Plant, Property, & Equipment, net		 3.51 5.17 7.84 8.22 33 29 23 13 6.01 3.24 3.18
Total Noncurrent Assets		 73 73 96 107 2,234 2,221 2,732 2,693 2,600 2,968 2,865
Goodwill		 4.65 4.65 4.65 4.65 1,333 1,327 1,646 1,648 1,648 1,648 1,648
Intangible Assets		 67 65 84 80 783 767 973 936 836 1,205 1,097
Other Noncurrent Operating Assets		 1.75 1.86 2.18 21 118 127 113 109 116 115 120
Total Liabilities & Shareholders' Equity		 220 279 369 510 2,565 2,710 3,107 3,089 3,164 3,449 3,380
Total Liabilities		 16 17 23 33 1,535 1,332 1,255 1,193 1,129 1,334 1,273
Total Current Liabilities		 12 16 20 29 152 205 153 131 117 156 157
Accounts Payable		 2.43 3.22 2.42 3.52 3.98 1.61 28 14 12 14 12
Accrued Expenses		 1.90 3.76 5.52 8.55 46 76 58 44 46 63 74
Current Employee Benefit Liabilities		 7.78 8.72 13 17 50 51 47 46 50 69 60
Other Current Liabilities		 - - - 0.00 12 14 12 10 9.40 10 9.91
Total Noncurrent Liabilities		 4.23 1.49 2.40 3.88 1,383 1,127 1,101 1,062 1,012 1,177 1,116
Long-Term Debt		 - - - 0.00 1,182 924 922 908 875 1,056 957
Capital Lease Obligations		 - - - - 68 74 - 59 49 42 34
Noncurrent Deferred & Payable Income Tax Liabilities		 4.00 0.04 0.00 0.92 130 120 100 83 69 56 94
Other Noncurrent Operating Liabilities		 - - - 2.97 2.63 8.81 79 13 19 23 31
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		 203 262 346 477 1,030 1,379 1,853 1,896 2,035 2,115 2,107
Total Preferred & Common Equity		 203 262 346 477 1,030 1,379 1,853 1,896 2,035 2,115 2,107
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		 203 262 346 477 1,030 1,379 1,853 1,896 2,035 2,115 2,107
Common Stock		 200 232 261 305 819 1,158 1,677 1,746 1,829 1,906 1,917
Retained Earnings		 3.61 30 85 172 212 220 176 150 206 209 196
Accumulated Other Comprehensive Income / (Loss)		 -0.10 -0.17 -0.27 - - - - - - 0.00 -5.71

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 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026 Q2 2026 Q3 2026
Period end date 7/31/2022 10/31/2022 4/30/2023 7/31/2023 10/31/2023 4/30/2024 7/31/2024 10/31/2024 4/30/2025 7/31/2025 10/31/2025
Total Assets		 3,074 3,065 3,035 3,066 3,094 3,246 3,514 3,488 3,416 3,417 3,398
Total Current Assets		 309 332 358 423 474 405 496 495 473 493 499
Cash & Equivalents		 177 210 226 290 334 251 327 322 288 304 309
Accounts Receivable		 90 88 98 93 96 106 108 107 116 111 111
Prepaid Expenses		 - - - - - - - - 69 77 78
Plant, Property, & Equipment, net		 18 16 11 9.15 7.66 5.08 4.59 3.89 3.17 3.09 3.39
Total Noncurrent Assets		 2,747 2,717 2,666 2,635 2,611 2,836 3,014 2,989 2,940 2,921 2,896
Goodwill		 1,646 1,646 1,648 1,648 1,648 1,648 1,648 1,648 1,648 1,648 1,648
Intangible Assets		 992 965 908 882 861 1,071 1,254 1,228 1,179 1,152 1,125
Other Noncurrent Operating Assets		 109 107 110 105 103 117 112 113 113 120 123
Total Liabilities & Shareholders' Equity		 3,074 3,065 3,035 3,066 3,094 3,246 3,514 3,488 3,416 3,417 3,398
Total Liabilities		 1,209 1,182 1,116 1,117 1,106 1,149 1,357 1,364 1,292 1,270 1,264
Total Current Liabilities		 126 110 90 103 96 92 121 155 116 117 121
Accounts Payable		 16 16 13 13 13 18 11 10 13 9.60 20
Accrued Expenses		 43 33 46 49 42 41 63 87 68 65 47
Current Employee Benefit Liabilities		 42 35 20 31 31 23 37 48 24 32 44
Other Current Liabilities		 11 11 11 10 9.77 9.76 9.90 9.95 9.97 9.95 9.93
Total Noncurrent Liabilities		 1,084 1,071 1,027 1,014 1,009 1,056 1,237 1,209 1,176 1,154 1,143
Long-Term Debt		 915 911 873 874 874 926 1,101 1,081 1,057 1,007 982
Capital Lease Obligations		 - - - - - 48 46 44 40 38 36
Noncurrent Deferred & Payable Income Tax Liabilities		 92 89 82 75 67 63 63 59 57 87 102
Other Noncurrent Operating Liabilities		 76 71 72 65 68 19 25 25 22 22 24
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		 1,865 1,883 1,919 1,950 1,988 2,098 2,157 2,125 2,124 2,146 2,134
Total Preferred & Common Equity		 1,865 1,883 1,919 1,950 1,988 2,098 2,157 2,125 2,124 2,146 2,134
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		 1,865 1,883 1,919 1,950 1,988 2,098 2,157 2,125 2,124 2,146 2,134
Common Stock		 1,713 1,733 1,765 1,785 1,809 1,863 1,887 1,893 1,905 1,919 1,917
Retained Earnings		 152 150 154 165 179 234 270 232 218 227 208
Accumulated Other Comprehensive Income / (Loss)		 - - - - - - - - - 0.20 8.84

Annual Metrics And Ratios for HealthEquity

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

Metric 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026
Period end date 1/31/2016 1/31/2017 1/31/2018 1/31/2019 1/31/2020 1/31/2021 1/31/2022 1/31/2023 1/31/2024 1/31/2025 1/31/2026
DEI Shares Outstanding		 - - - - - - - - - - 85,436,286.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - - 85,436,286.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - - 2.52
Growth Metrics		 - - - - - - - - - - -
Profitability Metrics		 - - - - - - - - - - -
Net Operating Profit after Tax (NOPAT)		 17 27 49 76 71 73 -17 6.34 87 135 250
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - - - 0.22% 2.95% 4.21% 8.07%
Earnings before Interest and Taxes (EBIT)		 26 40 52 76 68 39 -30 10 130 177 335
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 34 53 68 94 126 160 111 175 286 341 490
Valuation Ratios		 - - - - - - - - - - -
Leverage & Solvency		 - - - - - - - - - - -
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -30 25 25 66 -1,941 89 -464 -61 158 -227 388
Efficiency Ratios		 - - - - - - - - - - -
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 80 82 106 116 2,127 2,111 2,558 2,626 2,555 2,917 2,780
Increase / (Decrease) in Invested Capital		 47 1.90 24 9.60 2,012 -16 447 68 -71 363 -138
Book Value per Share		 $3.53 $4.41 $5.71 $7.65 $14.54 $17.91 $22.16 $22.40 $23.72 $24.40 $24.66
Tangible Book Value per Share		 $2.29 $3.24 $4.25 $6.30 ($15.32) ($9.29) ($9.17) ($8.14) ($5.23) ($8.51) ($7.47)
Total Capital		 203 262 346 477 2,319 2,440 2,783 2,880 2,959 3,213 3,099
Total Debt		 0.00 0.00 0.00 0.00 1,289 1,061 931 984 924 1,099 992
Total Long-Term Debt		 0.00 0.00 0.00 0.00 1,250 998 922 967 924 1,099 992
Net Debt		 -124 -180 -240 -361 1,097 732 705 730 520 803 673
Capital Expenditures (CapEx)		 9.27 13 16 14 33 65 72 49 43 53 48
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 7.17 4.76 4.64 4.15 -7.30 -11 -19 15 36 25 37
Debt-free Net Working Capital (DFNWC)		 131 185 245 366 184 318 207 269 440 321 355
Net Working Capital (NWC)		 131 185 245 366 145 255 198 252 440 321 355
Net Nonoperating Expense (NNE)		 0.38 0.72 2.02 1.81 31 64 27 32 32 39 35
Net Nonoperating Obligations (NNO)		 -124 -180 -240 -361 1,097 732 705 730 520 803 673
Total Depreciation and Amortization (D&A)		 8.62 13 16 18 58 121 142 164 156 165 156
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.29 $0.45 $0.79 $1.20 $0.59 $0.12 ($0.53) ($0.31) $0.65 $1.11 $2.50
Adjusted Weighted Average Basic Shares Outstanding		 56.72M 58.62M 60.30M 61.84M 67.03M 74.24M 83.13M 84.44M 85.56M 86.87M 86.13M
Adjusted Diluted Earnings per Share		 $0.28 $0.44 $0.77 $1.17 $0.58 $0.12 ($0.53) ($0.31) $0.64 $1.09 $2.46
Adjusted Weighted Average Diluted Shares Outstanding		 58.86M 59.89M 61.85M 63.37M 68.45M 75.68M 83.13M 84.44M 86.96M 88.83M 87.47M
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		 57.77M 59.63M 60.95M 62.47M 71.08M 83.02M 83.82M 84.78M 86.16M 86.50M 84.48M
Normalized Net Operating Profit after Tax (NOPAT)		 17 27 49 76 100 56 28 26 95 169 254
Debt Service Ratios		 - - - - - - - - - - -
Payout Ratios		 - - - - - - - - - - -

Quarterly Metrics And Ratios for HealthEquity

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

Metric Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 Q4 2026
Period end date 7/31/2023 10/31/2023 1/31/2024 4/30/2024 7/31/2024 10/31/2024 1/31/2025 4/30/2025 7/31/2025 10/31/2025 1/31/2026
DEI Shares Outstanding		 - - - - - - - - - - 85,436,286.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - - 85,436,286.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - - 0.58
Growth Metrics		 - - - - - - - - - - -
Profitability Metrics		 - - - - - - - - - - -
Net Operating Profit after Tax (NOPAT)		 18 21 34 36 45 18 37 63 69 60 58
Return On Investment Capital (ROIC_SIMPLE)		 - - 1.17% - - - 1.15% 1.96% 2.15% 1.91% 1.87%
Earnings before Interest and Taxes (EBIT)		 27 35 43 45 62 24 45 86 93 82 74
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 67 73 82 85 106 65 85 125 132 121 113
Valuation Ratios		 - - - - - - - - - - -
Leverage & Solvency		 - - - - - - - - - - -
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 102 93 105 -219 -400 -382 -326 -49 159 145 196
Efficiency Ratios		 - - - - - - - - - - -
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 2,533 2,528 2,555 2,820 2,978 2,928 2,917 2,933 2,887 2,843 2,780
Increase / (Decrease) in Invested Capital		 -83 -71 -71 255 445 400 363 112 -91 -85 -138
Book Value per Share		 $22.81 $23.22 $23.72 $24.35 $24.79 $24.33 $24.40 $24.55 $24.82 $24.77 $24.66
Tangible Book Value per Share		 ($6.79) ($6.08) ($5.23) ($7.22) ($8.57) ($8.61) ($8.51) ($8.14) ($7.56) ($7.42) ($7.47)
Total Capital		 2,823 2,862 2,959 3,072 3,305 3,250 3,213 3,221 3,191 3,152 3,099
Total Debt		 874 874 924 974 1,148 1,125 1,099 1,097 1,045 1,018 992
Total Long-Term Debt		 874 874 924 974 1,148 1,125 1,099 1,097 1,045 1,018 992
Net Debt		 583 540 520 723 821 803 803 809 741 709 673
Capital Expenditures (CapEx)		 10 12 11 14 13 13 14 16 11 11 10
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 29 44 36 61 48 19 25 69 72 69 37
Debt-free Net Working Capital (DFNWC)		 319 378 440 313 375 341 321 356 376 378 355
Net Working Capital (NWC)		 319 378 440 313 375 341 321 356 376 378 355
Net Nonoperating Expense (NNE)		 7.82 6.82 8.14 7.27 9.46 12 11 9.21 8.87 8.54 8.31
Net Nonoperating Obligations (NNO)		 583 540 520 723 821 803 803 809 741 709 673
Total Depreciation and Amortization (D&A)		 39 38 39 40 44 41 39 39 39 39 39
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.12 $0.17 $0.31 $0.33 $0.41 $0.07 $0.30 $0.62 $0.69 $0.60 $0.59
Adjusted Weighted Average Basic Shares Outstanding		 85.53M 85.70M 85.56M 86.47M 87.13M 87.19M 86.87M 86.66M 86.55M 86.00M 86.13M
Adjusted Diluted Earnings per Share		 $0.12 $0.17 $0.30 $0.33 $0.40 $0.06 $0.30 $0.61 $0.68 $0.59 $0.58
Adjusted Weighted Average Diluted Shares Outstanding		 86.34M 87.12M 86.96M 88.32M 88.65M 88.63M 88.83M 88.42M 87.75M 86.97M 87.47M
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		 85.63M 85.80M 86.16M 87.01M 87.32M 86.66M 86.50M 86.48M 86.16M 85.44M 84.48M
Normalized Net Operating Profit after Tax (NOPAT)		 20 23 37 38 47 50 39 64 70 61 59
Debt Service Ratios		 - - - - - - - - - - -
Payout Ratios		 - - - - - - - - - - -

Financials Breakdown Chart

Key Financial Trends

Here are the key trends for HealthEquity (HQY) based on the latest four years of quarterly results, focusing on the most important points for retail investors.

  • Revenue growth and margin expansion: Operating revenue rose to 334,586,000 in Q4 2026 from 262,387,000 in Q4 2024, and gross margin improved to about 68% (228,147,000 gross profit on 334,586,000 revenue) vs roughly 62% in Q4 2024 (163,320,000 gross profit on 262,387,000 revenue).
  • Net income and profitability improved: Net income attributable to common shareholders was 49,740,000 in Q4 2026, up from 26,365,000 in Q4 2025, signaling growing profitability.
  • Strong operating cash flow: Net cash from continuing operating activities ran roughly 118,000,000 to 139,000,000 across the 2026 quarters, reflecting solid ongoing cash generation to fund activities and shareholder returns.
  • Capital return activity: The company executed meaningful share buybacks in 2026 (about 92,424,000 in Q3 and 81,020,000 in Q4), indicating a significant use of cash to return value to shareholders.
  • R&D remains a major, ongoing investment: R&D expense hovered around 65–70,000,000 per quarter in 2026, representing roughly one-fifth of quarterly revenue, signaling continued product/experience development.
  • Balance sheet composition skewed toward intangibles: Goodwill (~1.65B) and intangible assets (roughly 1.1–1.3B) constitute a large portion of non-cash assets, reflecting past acquisitions and IP investments.
  • Leverage remains moderate: Long-term debt around 1.0B–1.1B and total liabilities roughly 1.2B–1.3B in mid-2026, with total equity around 2.1B, indicating a balanced capital structure.
  • Diluted EPS headwinds despite higher net income: Diluted earnings per share were 0.58 in Q4 2026 vs 0.68 in Q4 2025, partly due to a higher share count.
  • Financing activity pressure: Net cash from financing activities was negative in several 2026 quarters due to buybacks and debt actions, which reduces cash and can impact liquidity flexibility.
  • Costs remained important but controlled: Total operating expenses hovered around 140–160M per quarter in 2026, with SG&A, Marketing, and RD contributing meaningfully to the expense base.
05/06/26 10:06 PM ETAI Generated. May Contain Errors.

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 2026 ended on January 31, 2026.

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 $215.20 million in 2026, rising from $16.61 million in 2016. The previous period was $96.70 million in 2025. Check out HealthEquity's forecast to explore projected trends and price targets.

What is HealthEquity's operating income?
HealthEquity's total operating income in 2026 was $322.46 million, based on the following breakdown:
  • Total Gross Profit: $913.12 million
  • Total Operating Expenses: $590.66 million
How has HealthEquity's revenue changed over the last 10 years?

Over the last 10 years, HealthEquity's total revenue changed from $126.79 million in 2016 to $1.31 billion in 2026, a change of 935.9%.

How much debt does HealthEquity have?

HealthEquity's total liabilities were at $1.27 billion at the end of 2026, a 4.5% decrease from 2025, and a 7,692.5% increase since 2016.

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 $318.93 million as of their latest financial filing in 2026.

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 3.53 in 2016 to 24.66 in 2026, a change of 598.6%.


Related Companies

Financial statements for NASDAQ:HQY last updated on 3/18/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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