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

HealthEquity (HQY) Financials

$88.60 -1.79 (-1.98%)

Closing price 04:00 PM Eastern

Extended Trading

$88.54 -0.06 (-0.07%)

As of 04:15 PM Eastern

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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

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 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026	Q3 2026	Q4 2026	Q1 2027	Q2 2027
Period end date	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	4/30/2026	7/31/2026
Net Income / (Loss) Attributable to Common Shareholders	26	29	36	5.70	26	54	60	52	50	69	66
Consolidated Net Income / (Loss)	26	29	36	5.70	26	54	60	52	50	69	66
Net Income / (Loss) Continuing Operations	26	29	36	5.70	26	54	60	52	50	69	66
Total Pre-Tax Income	30	33	47	6.22	30	71	78	68	61	92	88
Total Operating Income	39	42	59	20	42	83	90	79	71	103	99
Total Gross Profit	163	187	204	197	189	224	233	228	228	256	258
Total Revenue	262	288	300	300	312	331	326	322	335	355	351
Operating Revenue	262	288	300	300	312	331	326	322	335	355	351
Total Cost of Revenue	99	100	96	103	123	107	93	94	106	98	93
Operating Cost of Revenue	99	100	96	103	123	107	93	94	106	98	93
Total Operating Expenses	124	146	145	177	147	141	143	149	157	153	159
Selling, General & Admin Expense	23	38	32	32	30	26	30	31	34	31	35
Marketing Expense	21	23	22	23	23	26	20	24	25	27	23
Research & Development Expense	55	56	59	60	65	61	65	66	70	68	74
Amortization Expense	23	26	31	28	27	27	27	27	27	27	26
Restructuring Charge	2.28	2.14	1.78	34	2.18	1.28	1.27	1.16	1.32	1.11	0.97
Total Other Income / (Expense), net	-9.17	-8.39	-12	-13	-12	-12	-12	-11	-10	-11	-11
Interest Expense	14	12	15	18	15	15	15	14	13	13	13
Other Income / (Expense), net	4.47	3.40	3.11	4.75	3.07	2.73	3.39	2.89	3.10	2.05	1.78
Income Tax Expense	3.35	4.43	11	0.52	3.60	17	18	16	11	23	22
Basic Earnings per Share	$0.31	$0.33	$0.41	$0.07	$0.30	$0.62	$0.69	$0.60	$0.59	$0.82	$0.79
Weighted Average Basic Shares Outstanding	85.56M	86.47M	87.13M	87.19M	86.87M	86.66M	86.55M	86.00M	86.13M	84.41M	83.37M
Diluted Earnings per Share	$0.30	$0.33	$0.40	$0.06	$0.30	$0.61	$0.68	$0.59	$0.58	$0.82	$0.78
Weighted Average Diluted Shares Outstanding	86.96M	88.32M	88.65M	88.63M	88.83M	88.42M	87.75M	86.97M	87.47M	85.01M	84.01M
Weighted Average Basic & Diluted Shares Outstanding	86.16M	87.01M	87.32M	86.66M	86.50M	86.48M	86.16M	85.44M	84.48M	83.60M	82.72M

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

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 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026	Q3 2026	Q4 2026	Q1 2027	Q2 2027
Period end date	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	4/30/2026	7/31/2026
Net Change in Cash & Equivalents	70	-153	76	-4.73	-26	-8.05	17	4.80	9.67	-54	-9.37
Net Cash From Operating Activities	77	65	108	91	76	65	136	139	118	98	136
Net Cash From Continuing Operating Activities	77	65	108	91	76	65	136	139	118	98	136
Net Income / (Loss) Continuing Operations	26	29	36	5.70	26	54	60	52	50	69	66
Consolidated Net Income / (Loss)	26	29	36	5.70	26	54	60	52	50	69	66
Depreciation Expense	38	39	44	41	39	39	38	39	39	38	42
Amortization Expense	0.70	0.70	0.73	0.38	0.26	0.27	0.27	0.27	0.26	0.08	0.31
Non-Cash Adjustments To Reconcile Net Income	19	34	23	24	23	16	21	22	21	21	24
Changes in Operating Assets and Liabilities, net	-7.07	-37	4.77	19	-13	-44	17	26	8.38	-31	4.34
Net Cash From Investing Activities	-11	-270	-209	-13	-14	-16	-11	-11	-8.44	-14	-26
Net Cash From Continuing Investing Activities	-11	-270	-209	-13	-14	-16	-11	-11	-8.44	-14	-26
Purchase of Property, Plant & Equipment	-11	-14	-13	-13	-14	-16	-11	-11	-10	-16	-16
Purchase of Investments	-	-	-	-	-	0.00	-	-	-	2.39	-10
Net Cash From Financing Activities	4.12	52	177	-82	-88	-57	-108	-122	-100	-137	-120
Net Cash From Continuing Financing Activities	4.12	52	177	-82	-88	-57	-108	-122	-100	-137	-120
Repayment of Debt	-	-	-	-541	-25	0.00	-	-25	-25	-15	-12
Repurchase of Common Equity	-	0.00	-	-	-63	-59	-67	-92	-81	-123	-108
Other Financing Activities, net	4.12	1.77	1.62	4.85	-0.43	2.42	8.63	-4.97	6.21	1.13	0.01
Cash Interest Paid	5.37	19	8.12	23	8.38	21	7.55	18	5.79	19	4.84
Cash Income Taxes Paid	11	0.28	13	10	2.25	-0.05	6.55	0.84	0.69	-0.45	36

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

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	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026	Q2 2026	Q3 2026	Q1 2027	Q2 2027
Period end date	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	4/30/2026	7/31/2026
Total Assets	3,035	3,066	3,094	3,246	3,514	3,488	3,416	3,417	3,398	3,306	3,271
Total Current Assets	358	423	474	405	496	495	473	493	499	467	460
Cash & Equivalents	226	290	334	251	327	322	288	304	309	265	256
Accounts Receivable	98	93	96	106	108	107	116	111	111	122	122
Prepaid Expenses	-	-	-	-	-	-	69	77	78	79	82
Plant, Property, & Equipment, net	11	9.15	7.66	5.08	4.59	3.89	3.17	3.09	3.39	3.80	4.82
Total Noncurrent Assets	2,666	2,635	2,611	2,836	3,014	2,989	2,940	2,921	2,896	2,836	2,806
Goodwill	1,648	1,648	1,648	1,648	1,648	1,648	1,648	1,648	1,648	1,648	1,648
Intangible Assets	908	882	861	1,071	1,254	1,228	1,179	1,152	1,125	1,073	1,048
Other Noncurrent Operating Assets	110	105	103	117	112	113	113	120	123	115	110
Total Liabilities & Shareholders' Equity	3,035	3,066	3,094	3,246	3,514	3,488	3,416	3,417	3,398	3,306	3,271
Total Liabilities	1,116	1,117	1,106	1,149	1,357	1,364	1,292	1,270	1,264	1,259	1,281
Total Current Liabilities	90	103	96	92	121	155	116	117	121	136	154
Accounts Payable	13	13	13	18	11	10	13	9.60	20	14	8.59
Accrued Expenses	46	49	42	41	63	87	68	65	47	85	97
Current Employee Benefit Liabilities	20	31	31	23	37	48	24	32	44	27	38
Other Current Liabilities	11	10	9.77	9.76	9.90	9.95	9.97	9.95	9.93	9.92	9.97
Total Noncurrent Liabilities	1,027	1,014	1,009	1,056	1,237	1,209	1,176	1,154	1,143	1,123	1,127
Long-Term Debt	873	874	874	926	1,101	1,081	1,057	1,007	982	943	931
Capital Lease Obligations	-	-	-	48	46	44	40	38	36	32	30
Noncurrent Deferred & Payable Income Tax Liabilities	82	75	67	63	63	59	57	87	102	95	92
Other Noncurrent Operating Liabilities	72	65	68	19	25	25	22	22	24	53	74
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	1,919	1,950	1,988	2,098	2,157	2,125	2,124	2,146	2,134	2,047	1,990
Total Preferred & Common Equity	1,919	1,950	1,988	2,098	2,157	2,125	2,124	2,146	2,134	2,047	1,990
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	1,919	1,950	1,988	2,098	2,157	2,125	2,124	2,146	2,134	2,047	1,990
Common Stock	1,765	1,785	1,809	1,863	1,887	1,893	1,905	1,919	1,917	1,902	1,897
Retained Earnings	154	165	179	234	270	232	218	227	208	177	163
Accumulated Other Comprehensive Income / (Loss)	-	-	-	-	-	-	-	0.20	8.84	-32	-69

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	-	-	-	-	-	-	-	-	-	-	-

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

Metric	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026	Q3 2026	Q4 2026	Q1 2027	Q2 2027
Period end date	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	4/30/2026	7/31/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	85,436,286.00	84,478,406.00	83,602,157.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	85,436,286.00	84,478,406.00	83,602,157.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	0.58	0.82	0.79
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	12.21%	17.66%	23.15%	20.55%	18.84%	15.04%	8.64%	7.23%	-	7.19%	7.64%
EBITDA Growth	47.44%	30.61%	59.92%	-10.44%	3.28%	47.41%	23.83%	84.25%	-	14.80%	8.36%
EBIT Growth	202.93%	80.07%	125.64%	-29.62%	4.29%	90.55%	49.90%	234.72%	-	22.36%	8.03%
NOPAT Growth	109.99%	280.70%	146.06%	-16.26%	7.51%	74.94%	51.76%	234.66%	-	22.50%	7.29%
Net Income Growth	12,714.35%	603.79%	238.55%	-61.13%	0.00%	87.12%	67.09%	806.40%	-	28.75%	9.67%
EPS Growth	0.00%	560.00%	233.33%	-64.71%	0.00%	84.85%	70.00%	883.33%	-	34.43%	14.71%
Operating Cash Flow Growth	38.89%	107.46%	40.23%	58.56%	-1.72%	-1.06%	25.65%	53.04%	-	50.65%	0.22%
Free Cash Flow Firm Growth	125.53%	-266.27%	-493.06%	-510.50%	-408.87%	77.54%	139.89%	137.97%	-	615.88%	66.64%
Invested Capital Growth	-2.70%	9.92%	17.56%	15.81%	14.20%	3.98%	-3.04%	-2.89%	-	-6.00%	-6.65%
Revenue Q/Q Growth	5.28%	9.61%	4.29%	0.17%	3.79%	6.10%	-1.51%	-1.13%	-	5.99%	-1.10%
EBITDA Q/Q Growth	12.13%	3.30%	25.63%	-38.45%	29.31%	47.43%	5.53%	-8.42%	-	26.69%	-0.39%
EBIT Q/Q Growth	25.20%	3.87%	37.77%	-60.72%	85.53%	89.77%	8.38%	-12.28%	-	41.57%	-4.32%
NOPAT Q/Q Growth	60.50%	4.60%	25.49%	-60.25%	106.07%	70.20%	8.86%	-12.35%	-	33.23%	-4.66%
Net Income Q/Q Growth	79.68%	9.29%	24.33%	-84.08%	362.30%	104.49%	11.02%	-13.64%	-	39.56%	-5.44%
EPS Q/Q Growth	76.47%	10.00%	21.21%	-85.00%	400.00%	103.33%	11.48%	-13.24%	-	41.38%	-4.88%
Operating Cash Flow Q/Q Growth	34.96%	-15.11%	65.26%	-16.26%	-16.35%	-14.54%	109.87%	1.99%	-	-17.29%	39.61%
Free Cash Flow Firm Q/Q Growth	13.41%	-307.31%	-82.83%	4.50%	14.67%	84.92%	424.69%	-9.09%	-	29.41%	4.88%
Invested Capital Q/Q Growth	1.05%	10.40%	5.57%	-1.68%	-0.35%	0.52%	-1.56%	-1.52%	-	-0.83%	-2.24%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	62.24%	65.07%	68.03%	65.58%	60.63%	67.80%	71.38%	70.79%	-	72.27%	73.55%
EBITDA Margin	31.24%	29.44%	35.47%	21.79%	27.15%	37.73%	40.43%	37.44%	-	40.41%	40.70%
Operating Margin	14.82%	14.48%	19.65%	6.53%	13.52%	25.11%	27.50%	24.43%	-	29.03%	28.14%
EBIT Margin	16.52%	15.66%	20.69%	8.11%	14.50%	25.94%	28.54%	25.32%	-	29.61%	28.65%
Profit (Net Income) Margin	10.05%	10.02%	11.94%	1.90%	8.46%	16.30%	18.37%	16.05%	-	19.57%	18.72%
Tax Burden Percent	88.72%	86.68%	76.84%	91.72%	88.00%	75.99%	76.69%	76.54%	-	75.12%	74.71%
Interest Burden Percent	68.54%	73.81%	75.14%	25.51%	66.26%	82.69%	83.92%	82.78%	-	88.01%	87.45%
Effective Tax Rate	11.28%	13.32%	23.16%	8.28%	12.00%	24.01%	23.31%	23.46%	-	24.88%	25.29%
Return on Invested Capital (ROIC)	5.07%	4.86%	6.02%	2.53%	5.22%	8.25%	9.13%	8.36%	-	10.25%	10.26%
ROIC Less NNEP Spread (ROIC-NNEP)	3.77%	3.80%	4.68%	0.70%	3.59%	7.04%	7.99%	7.23%	-	9.21%	9.14%
Return on Net Nonoperating Assets (RNNOA)	1.20%	1.29%	1.60%	0.23%	1.15%	2.55%	2.90%	2.57%	-	3.35%	3.19%
Return on Equity (ROE)	6.27%	6.15%	7.62%	2.75%	6.36%	10.80%	12.03%	10.93%	-	13.60%	13.45%
Cash Return on Invested Capital (CROIC)	6.11%	-5.32%	-11.15%	-9.78%	-8.31%	1.71%	9.39%	10.85%	-	15.47%	16.52%
Operating Return on Assets (OROA)	5.28%	5.20%	6.91%	2.84%	5.26%	9.68%	10.45%	9.49%	-	11.78%	11.67%
Return on Assets (ROA)	3.21%	3.33%	3.99%	0.66%	3.07%	6.08%	6.73%	6.01%	-	7.79%	7.62%
Return on Common Equity (ROCE)	6.27%	6.15%	7.62%	2.75%	6.36%	10.80%	12.03%	10.93%	-	13.60%	13.45%
Return on Equity Simple (ROE_SIMPLE)	0.00%	3.83%	4.90%	4.55%	0.00%	5.74%	0.00%	0.00%	-	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	34	36	45	18	37	63	69	60	58	77	74
NOPAT Margin	13.15%	12.55%	15.10%	5.99%	11.90%	19.08%	21.09%	18.70%	-	21.81%	21.02%
Net Nonoperating Expense Percent (NNEP)	1.30%	1.06%	1.35%	1.83%	1.62%	1.20%	1.14%	1.13%	-	1.04%	1.12%
Return On Investment Capital (ROIC_SIMPLE)	1.17%	-	-	-	1.15%	1.96%	2.15%	1.91%	1.87%	2.56%	2.50%
Cost of Revenue to Revenue	37.76%	34.93%	31.97%	34.42%	39.37%	32.20%	28.62%	29.21%	-	27.73%	26.45%
SG&A Expenses to Revenue	8.82%	13.30%	10.76%	10.58%	9.61%	7.72%	9.20%	9.59%	-	8.78%	9.94%
R&D to Revenue	21.05%	19.50%	19.53%	20.03%	20.73%	18.57%	19.89%	20.46%	-	19.11%	21.08%
Operating Expenses to Revenue	47.42%	50.59%	48.39%	59.05%	47.11%	42.69%	43.88%	46.36%	-	43.24%	45.41%
Earnings before Interest and Taxes (EBIT)	43	45	62	24	45	86	93	82	74	105	100
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	82	85	106	65	85	125	132	121	113	143	143
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	3.19	3.24	3.17	3.50	4.52	3.49	3.91	3.82	-	3.38	4.23
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
Price to Revenue (P/Rev)	6.49	6.52	6.21	6.47	7.98	5.96	6.61	6.31	-	5.18	6.18
Price to Earnings (P/E)	116.40	84.53	64.62	76.98	98.96	60.87	57.52	42.48	-	30.04	35.57
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%	0.00%
Earnings Yield	0.86%	1.18%	1.55%	1.30%	1.01%	1.64%	1.74%	2.35%	-	3.33%	2.81%
Enterprise Value to Invested Capital (EV/IC)	2.74	2.67	2.57	2.82	3.56	2.80	3.16	3.12	-	2.77	3.38
Enterprise Value to Revenue (EV/Rev)	7.01	7.21	6.96	7.17	8.64	6.62	7.19	6.86	-	5.71	6.69
Enterprise Value to EBITDA (EV/EBITDA)	24.46	24.56	22.10	24.37	30.40	21.57	22.45	19.18	-	15.02	17.54
Enterprise Value to EBIT (EV/EBIT)	53.68	49.97	41.33	47.18	58.71	37.82	36.75	28.98	-	21.59	25.24
Enterprise Value to NOPAT (EV/NOPAT)	80.16	67.50	55.53	62.08	76.66	50.94	49.44	38.78	-	28.91	33.86
Enterprise Value to Operating Cash Flow (EV/OCF)	28.85	27.18	24.86	24.17	30.52	24.25	24.88	21.35	-	15.59	18.60
Enterprise Value to Free Cash Flow (EV/FCFF)	44.25	0.00	0.00	0.00	0.00	167.05	33.16	28.29	-	17.36	19.77
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.45	0.46	0.53	0.53	0.52	0.52	0.49	0.48	-	0.48	0.48
Long-Term Debt to Equity	0.45	0.46	0.53	0.53	0.52	0.52	0.49	0.48	-	0.48	0.48
Financial Leverage	0.32	0.34	0.34	0.33	0.32	0.36	0.36	0.36	-	0.36	0.35
Leverage Ratio	1.59	1.56	1.60	1.60	1.59	1.58	1.61	1.62	-	1.61	1.62
Compound Leverage Factor	1.09	1.15	1.20	0.41	1.06	1.31	1.35	1.34	-	1.42	1.41
Debt to Total Capital	31.22%	31.71%	34.73%	34.62%	34.19%	34.06%	32.75%	32.30%	-	32.25%	32.57%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%	0.00%
Long-Term Debt to Total Capital	31.22%	31.71%	34.73%	34.62%	34.19%	34.06%	32.75%	32.30%	-	32.25%	32.57%
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%
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%
Common Equity to Total Capital	68.78%	68.29%	65.27%	65.38%	65.81%	65.94%	67.25%	67.70%	-	67.75%	67.43%
Debt to EBITDA	3.23	3.18	3.32	3.32	3.22	2.88	2.57	2.21	-	1.92	1.85
Net Debt to EBITDA	1.81	2.36	2.37	2.37	2.35	2.12	1.82	1.54	-	1.39	1.36
Long-Term Debt to EBITDA	3.23	3.18	3.32	3.32	3.22	2.88	2.57	2.21	-	1.92	1.85
Debt to NOPAT	10.57	8.74	8.33	8.47	8.12	6.79	5.66	4.46	-	3.69	3.57
Net Debt to NOPAT	5.95	6.49	5.96	6.05	5.93	5.01	4.01	3.10	-	2.68	2.62
Long-Term Debt to NOPAT	10.57	8.74	8.33	8.47	8.12	6.79	5.66	4.46	-	3.69	3.57
Altman Z-Score	4.07	4.13	3.62	3.84	4.89	4.10	4.65	4.55	-	4.01	4.64
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	4.76	4.39	4.10	3.20	3.06	4.06	4.23	4.13	-	3.44	2.99
Quick Ratio	4.35	3.88	3.60	2.78	2.65	3.47	3.57	3.49	-	2.85	2.46
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	105	-219	-400	-382	-326	-49	159	145	196	253	266
Operating Cash Flow to CapEx	683.88%	473.20%	834.07%	703.85%	558.74%	401.03%	1,215.26%	1,249.77%	-	598.61%	863.51%
Free Cash Flow to Firm to Interest Expense	7.73	-18.53	-25.90	-21.02	-21.34	-3.30	10.66	10.31	-	20.12	21.07
Operating Cash Flow to Interest Expense	5.65	5.55	7.01	4.99	4.96	4.36	9.09	9.86	-	7.75	10.80
Operating Cash Flow Less CapEx to Interest Expense	4.82	4.37	6.17	4.28	4.08	3.27	8.34	9.07	-	6.45	9.55
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.32	0.33	0.33	0.35	0.36	0.37	0.37	0.37	-	0.40	0.41
Accounts Receivable Turnover	9.91	10.19	10.93	11.34	10.77	11.17	11.56	11.84	-	11.23	11.67
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00	0.00
Fixed Asset Turnover	105.92	133.56	160.02	199.19	259.35	301.12	330.45	354.58	-	383.54	344.36
Accounts Payable Turnover	29.06	24.20	33.36	33.55	32.01	27.07	42.25	27.87	-	28.30	43.06
Days Sales Outstanding (DSO)	36.83	35.81	33.38	32.19	33.91	32.66	31.59	30.82	-	32.52	31.27
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00	0.00
Days Payable Outstanding (DPO)	12.56	15.08	10.94	10.88	11.40	13.48	8.64	13.10	-	12.90	8.48
Cash Conversion Cycle (CCC)	24.27	20.73	22.44	21.31	22.50	19.18	22.95	17.72	-	19.62	22.79
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	2,555	2,820	2,978	2,928	2,917	2,933	2,887	2,843	2,780	2,757	2,695
Invested Capital Turnover	0.39	0.39	0.40	0.42	0.44	0.43	0.43	0.45	-	0.47	0.49
Increase / (Decrease) in Invested Capital	-71	255	445	400	363	112	-91	-85	-138	-176	-192
Enterprise Value (EV)	7,005	7,521	7,649	8,247	10,372	8,223	9,129	8,858	-	7,639	9,116
Market Capitalization	6,485	6,799	6,829	7,444	9,569	7,414	8,388	8,149	-	6,930	8,411
Book Value per Share	$23.72	$24.35	$24.79	$24.33	$24.40	$24.55	$24.82	$24.77	$24.66	$24.24	$23.80
Tangible Book Value per Share	($5.23)	($7.22)	($8.57)	($8.61)	($8.51)	($8.14)	($7.56)	($7.42)	($7.47)	($7.98)	($8.44)
Total Capital	2,959	3,072	3,305	3,250	3,213	3,221	3,191	3,152	3,099	3,022	2,951
Total Debt	924	974	1,148	1,125	1,099	1,097	1,045	1,018	992	975	961
Total Long-Term Debt	924	974	1,148	1,125	1,099	1,097	1,045	1,018	992	975	961
Net Debt	520	723	821	803	803	809	741	709	673	709	705
Capital Expenditures (CapEx)	11	14	13	13	14	16	11	11	10	16	16
Debt-free, Cash-free Net Working Capital (DFCFNWC)	36	61	48	19	25	69	72	69	37	65	50
Debt-free Net Working Capital (DFNWC)	440	313	375	341	321	356	376	378	355	331	306
Net Working Capital (NWC)	440	313	375	341	321	356	376	378	355	331	306
Net Nonoperating Expense (NNE)	8.14	7.27	9.46	12	11	9.21	8.87	8.54	8.31	7.92	8.09
Net Nonoperating Obligations (NNO)	520	723	821	803	803	809	741	709	673	709	705
Total Depreciation and Amortization (D&A)	39	40	44	41	39	39	39	39	39	38	42
Debt-free, Cash-free Net Working Capital to Revenue	3.64%	5.89%	4.35%	1.61%	2.12%	5.52%	5.66%	5.33%	-	4.89%	3.70%
Debt-free Net Working Capital to Revenue	44.05%	29.99%	34.09%	29.62%	26.79%	28.68%	29.65%	29.29%	-	24.74%	22.50%
Net Working Capital to Revenue	44.05%	29.99%	34.09%	29.62%	26.79%	28.68%	29.65%	29.29%	-	24.74%	22.50%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.31	$0.33	$0.41	$0.07	$0.30	$0.62	$0.69	$0.60	$0.59	$0.82	$0.79
Adjusted Weighted Average Basic Shares Outstanding	85.56M	86.47M	87.13M	87.19M	86.87M	86.66M	86.55M	86.00M	86.13M	84.41M	83.37M
Adjusted Diluted Earnings per Share	$0.30	$0.33	$0.40	$0.06	$0.30	$0.61	$0.68	$0.59	$0.58	$0.82	$0.78
Adjusted Weighted Average Diluted Shares Outstanding	86.96M	88.32M	88.65M	88.63M	88.83M	88.42M	87.75M	86.97M	87.47M	85.01M	84.01M
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	86.16M	87.01M	87.32M	86.66M	86.50M	86.48M	86.16M	85.44M	84.48M	83.60M	82.72M
Normalized Net Operating Profit after Tax (NOPAT)	37	38	47	50	39	64	70	61	59	78	74
Normalized NOPAT Margin	13.92%	13.19%	15.55%	16.50%	12.51%	19.37%	21.39%	18.97%	-	22.04%	21.23%
Pre Tax Income Margin	11.33%	11.56%	15.54%	2.07%	9.61%	21.45%	23.95%	20.96%	-	26.06%	25.05%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	3.18	3.82	4.02	1.34	2.96	5.78	6.22	5.81	-	8.34	7.97
NOPAT to Interest Expense	2.53	3.06	2.94	0.99	2.43	4.25	4.60	4.29	-	6.14	5.85
EBIT Less CapEx to Interest Expense	2.35	2.65	3.18	0.63	2.08	4.69	5.47	5.02	-	7.05	6.72
NOPAT Less CapEx to Interest Expense	1.70	1.89	2.10	0.28	1.54	3.16	3.85	3.50	-	4.85	4.60
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%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	125.64%	148.24%	169.57%	146.60%	-	157.56%	171.04%

Financials Breakdown Chart

Key Financial Trends

HealthEquity’s latest financial statements show continued growth and strong profitability, although aggressive share repurchases and a large intangible-asset base remain important considerations for investors. In Q2 fiscal 2027, revenue increased 7.6% year over year to $350.7 million. Gross profit rose 10.9% to $258.0 million, while operating income increased 10.2% to $98.7 million. Net income reached $65.6 million, up from $59.9 million in the year-ago quarter.

Profitability has improved meaningfully over the supplied period. Gross margin was approximately 73.5% in Q2 fiscal 2027, compared with 71.4% in Q2 fiscal 2026 and 63.3% in Q2 fiscal 2024. Operating income has also expanded from $24.7 million in Q2 fiscal 2024 to nearly $98.7 million in the latest quarter. Diluted EPS increased to $0.78 from $0.68 year over year, helped by both higher earnings and a lower diluted share count.

HealthEquity continues to generate substantial operating cash flow. Q2 fiscal 2027 operating cash flow was $136.2 million, roughly in line with the $135.9 million reported in the year-ago period and higher than the $77.1 million generated in Q2 fiscal 2024. However, cash declined by $9.4 million during the latest quarter because $107.7 million was used for share repurchases, in addition to $11.9 million of debt repayment.

Durable revenue growth: Quarterly revenue increased from $243.5 million in Q2 fiscal 2024 to $350.7 million in Q2 fiscal 2027, indicating sustained expansion in the company’s core business.
Improving margins: Gross margin reached approximately 73.5% in Q2 fiscal 2027, and operating margin was about 28.1%, both representing significant improvement from earlier periods.
Rising earnings and EPS: Net income has generally trended higher, from $35.8 million in Q2 fiscal 2025 to $65.6 million in Q2 fiscal 2027. Diluted EPS rose 14.7% year over year to $0.78.
Strong operating cash generation: HealthEquity produced $136.2 million of operating cash flow in Q2 fiscal 2027, more than twice its Q2 fiscal 2024 level.
Debt reduction: Long-term debt declined to $931.1 million from $1.01 billion a year earlier, while capital lease obligations also decreased. Lower debt should gradually reduce financial risk and interest costs.
Shareholder returns: The company repurchased $107.7 million of common stock in Q2 fiscal 2027 and has consistently used cash for buybacks, supporting per-share results when repurchases are made at attractive valuations.
Solid short-term liquidity: Cash and equivalents totaled $256.0 million, versus $153.8 million of current liabilities, producing a current ratio of approximately 3.0. Cash is lower than the year-ago balance because of buybacks and debt repayment.
Operating expenses remain elevated: Research and development spending reached $73.9 million in Q2 fiscal 2027, while total operating expenses increased 11.4% year over year. These investments may support growth, but they could pressure margins if revenue growth slows.
Heavy reliance on goodwill and intangible assets: Goodwill and intangible assets totaled approximately $2.70 billion, or more than 80% of total assets. This creates impairment risk if acquired businesses underperform or future cash-flow expectations decline.
Cash declined despite strong profitability: Net cash decreased by $9.4 million in Q2 fiscal 2027 because financing outflows, primarily buybacks and debt repayment, exceeded operating cash flow after investment spending. Continued aggressive capital returns could limit financial flexibility.

Overall, the statements point to a business with improving operating leverage, consistent profitability and strong cash conversion. The main issues for investors to monitor are whether revenue growth can remain above expense growth, whether buybacks are funded sustainably, and whether HealthEquity can continue reducing debt without weakening its liquidity position.

09/24/26 06:34 PM ETAI Generated. May Contain Errors.

HealthEquity Financials - Frequently Asked Questions

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.

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.

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

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%.

In the past 13 quarters, HealthEquity's cash and equivalents has ranged from $225.64 million in Q1 2024 to $334.06 million in Q3 2024, and is currently $256.00 million as of their latest financial filing in Q2 2027.

HealthEquity had total debt of $991.57 million at the end of 2026, a 9.7% decrease from 2025, and none in 2016.

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%.

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Financial statements for NASDAQ:HQY last updated on 8/27/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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HealthEquity (HQY) Financials

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HealthEquity (HQY) Financials

Annual Income Statements for HealthEquity

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

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

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