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HealthEquity, Inc.

HealthEquity, Inc.

NASDAQ•HQY
CEO: Mr. Jon Kessler
Sector: Healthcare
Industry: Medical - Healthcare Information Services
Listing Date: 2014-07-31
HealthEquity, Inc. provides technology-enabled services platforms to consumers and employers in the United States. The company offers cloud-based platforms for individuals to make health saving and spending decisions, pay healthcare bills, receive personalized benefit information, earn wellness incentives, grow their savings, and make investment choices; and health savings accounts. It also provides investment platform; and online-only automated investment advisory services through Advisor, a Web-based tool. In addition, the company offers flexible spending accounts; health reimbursement arrangements; and Consolidated Omnibus Budget Reconciliation Act continuation services, as well as administers pre-tax commuter benefit programs. It serves clients through a direct sales force; benefits brokers and advisors; and a network of health plans, benefits administrators, benefits brokers and consultants, and retirement plan record-keepers. HealthEquity, Inc. was incorporated in 2002 and is based in Draper, Utah.
Contact Information
15 West Scenic Pointe Drive, Suite 100, Draper, UT, 84020, United States
801-727-1000
www.healthequity.com
Market Cap
$7.27B
P/E (TTM)
37.7
47.3
Dividend Yield
--
52W High
$116.65
52W Low
$74.07
52W Range
24%
Rank31Top 21.6%
5.0
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Average • 5 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2016-2025

Financial Dashboard

Q3 2026 Data

Revenue

$322.16M+7.23%
4-Quarter Trend

EPS

$0.60+817.43%
4-Quarter Trend

FCF

$137.79M+77.37%
4-Quarter Trend

2026 Q3 Earnings Highlights

Key Highlights

Net Income Soars 135% Nine-month net income reached $165.5M, reflecting a massive 135% increase over prior year period results.
Total Revenue Up Ten Percent Total revenue for nine months hit $978.8M, growing 10% driven by custodial and interchange increases.
Operating Cash Flow Strong Net cash provided by operating activities totaled $339.2M for nine months, showing $75.1M improvement.
HSA Assets Exceed $34 Billion Total HSA Assets grew 15% to $34.4B as of October 31, 2025, driven by investment appreciation.

Risk Factors

Cybersecurity Litigation Exposure Subject to multiple legal actions following 2025 security incident; potential loss amount cannot be reasonably estimated.
Interest Rate Fluctuation Risk Custodial revenue exposure exists from sustained shifts in prevailing interest rates impacting HSA cash yields.
Regulatory Environment Uncertainty Changes in tax policy and state privacy laws may adversely affect business operations in unpredictable ways.
Competition Resource Disparity Direct competitors, including large banks, devote greater resources to product development and service support.

Outlook

Investing in Technology Modernization Continuing investment in proprietary technology architecture to enhance security, platform infrastructure, and service delivery.
Expect Reduced Tax Payments Corporate income tax payments expected to be significantly reduced due to accelerated deductions from new legislation.
Liquidity Meets Near-Term Needs Existing cash, equivalents, and revolving credit facility sufficient to meet operating and capital expenditure requirements for 12 months.
Focus on Product Breadth Strengthening value proposition by integrating HSA offerings with complementary CDBs for single-source provider status.

Peer Comparison

Revenue (TTM)

Henry Schein, Inc.HSIC
$12.94B
+3.5%
Grifols, S.A.GRFS
$8.30B
+7.3%
Jazz Pharmaceuticals plcJAZZ
$4.16B
+4.1%

Gross Margin (Latest Quarter)

Corcept Therapeutics IncorporatedCORT
97.8%
-0.6pp
Jazz Pharmaceuticals plcJAZZ
77.1%
-12.3pp
Guardant Health, Inc.GH
64.7%
+3.6pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
GH$14.85B-35.9151.9%103.9%
GMED$12.38B29.410.0%2.3%
JAZZ$10.25B-27.8-9.3%47.8%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
1.1%
Moderate Growth
4Q Net Income CAGR
25.2%
Profitability Improved
Cash Flow Stability
100%
Strong Cash Flow

Research & Insights

Next earnings:Mar 17, 2026
|
EPS:$0.89
|
Revenue:-
Reports
All Years

  • Form 10-Q - Q3 2026

    Period End: Oct 31, 2025|Filed: Dec 3, 2025|
    Revenue: $322.16M+7.2%
    |
    EPS: $0.60+817.4%
    Miss

  • Form 10-Q - Q2 2026

    Period End: Jul 31, 2025|Filed: Sep 2, 2025|
    Revenue: $325.84M+8.6%
    |
    EPS: $0.69+68.3%
    Miss

  • Form 10-Q - Q1 2026

    Period End: Apr 30, 2025|Filed: Jun 3, 2025|
    Revenue: $330.84M+15.0%
    |
    EPS: $0.62+87.9%
    Miss

  • Form 10-K - FY 2025

    Period End: Jan 31, 2025|Filed: Mar 18, 2025|
    Revenue: $1.20B+20.0%
    |
    EPS: $1.11+70.8%
    Beat

  • Form 10-Q - Q3 2025

    Period End: Oct 31, 2024|Filed: Dec 9, 2024|
    Revenue: $300.43M+20.5%
    |
    EPS: $0.07-61.5%
    Miss

  • Form 10-Q - Q2 2025

    Period End: Jul 31, 2024|Filed: Sep 3, 2024|
    Revenue: $299.93M+23.1%
    |
    EPS: $0.41+241.7%
    Miss

  • Form 10-Q - Q1 2025

    Period End: Apr 30, 2024|Filed: Jun 3, 2024|
    Revenue: $287.60M+17.7%
    |
    EPS: $0.33+560.0%
    Miss

  • Form 10-K - FY 2024

    Period End: Jan 31, 2024|Filed: Mar 22, 2024|
    Revenue: $999.59M+16.0%
    |
    EPS: $0.65+309.7%
    Beat