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HealthEquity Financial Ratios 2026-2011 | HQY
Brief overview of HealthEquity's market valuation
Ratios are assessed across five available annual reports in the 2020–2026 interval.
Key multiples at the end of the period are P/E 31.78x (median 119.96x), EV/EBITDA 16.33x (median 27.84x), P/S 5.21x (median 5.75x). Multiples are on average 41.3% below their own medians. Shares look cheaper than their recent historical valuation.
Earnings yield calculated as 1/P/E is about 3.1%, showing current profit per unit of share price.
The latest available business-quality ratios are ROE 10.2%, ROA 6.4%, ROCE 10%. Capital returns look adequate and support overall financial resilience.
Price, earnings and growth produce a PEG of 1.14x, a neutral level if forecasts are realistic.
A shorter cycle, from 75.4 days to 21.5 days, indicates faster release of cash from operations.
Valuation takeaway
HealthEquity combines solid capital returns with a discount to its own history. The main question is whether earnings and growth are sustainable.
Annual Financial Ratios HealthEquity
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
P/E |
31.8 | 71.3 | 122.3 | -185.3 | -107.7 | 371.8 | 120.0 | 69.7 | 70.5 | 95.6 | 72.6 | 64.1 | - | - | - | - |
P/S |
5.2 | 5.7 | 6.8 | 5.6 | 22.1 | 4.5 | 8.9 | 17.9 | 14.5 | 14.1 | 9.5 | 7.4 | - | - | - | - |
EPS |
2.5 | 1.1 | 0.7 | -0.3 | -0.5 | 0.1 | 0.6 | 1.2 | 0.8 | 0.5 | 0.3 | 0.4 | -1.3 | 0.8 | - | - |
EV (Enterprise Value) |
7.79 B | 7.94 B | 7.54 B | 5.78 B | 5.8 B | 4.29 B | 6.1 B | 4.82 B | 3.16 B | 2.4 B | 1.14 B | 555 M | 7.16 M | -5.9 M | - | - |
EBITDA per Share |
5.54 | 3.74 | 3.16 | 2.02 | 1.36 | 2.02 | 2.15 | 1.35 | 0.983 | 0.776 | 0.5 | 0.594 | - | - | - | - |
EV/EBITDA |
16.3 | 24.4 | 27.8 | 34.0 | 51.3 | 28.5 | 40.2 | 57.3 | 52.9 | 52.3 | 39.6 | 29.2 | - | - | - | - |
PEG |
1.14 | 4.21 | 4.89 | -8.72 | -6.39 | 10.79 | -2.36 | 1.34 | 0.93 | 1.73 | -2.83 | 0.36 | - | - | - | - |
P/B |
3.2 | 3.3 | 3.3 | 2.6 | 2.6 | 2.4 | 4.6 | 10.8 | 9.6 | 9.6 | 5.9 | 4.5 | - | - | - | - |
P/CF |
15.0 | 20.3 | 28.1 | 32.2 | 33.8 | 18.1 | 75.6 | 52.3 | 69.1 | 76.6 | -51.9 | 94.2 | - | - | - | - |
ROE % |
10.21 | 4.57 | 2.74 | -1.38 | -2.39 | 0.64 | 3.85 | 15.49 | 13.68 | 10.07 | 8.17 | 7.06 | - | - | - | - |
ROA % |
6.37 | 2.80 | 1.76 | -0.85 | -1.43 | 0.33 | 1.55 | 14.49 | 12.83 | 9.45 | 7.56 | 6.40 | - | - | - | - |
ROCE % |
10.00 | 4.93 | 3.86 | 0.31 | -0.82 | 1.36 | 4.52 | 16.15 | 15.61 | 15.64 | 12.59 | 11.25 | - | - | - | - |
Current Ratio |
2.7 | 2.6 | 2.8 | 2.6 | 2.5 | 2.0 | 2.0 | 13.6 | 13.0 | 12.8 | 11.8 | 14.1 | - | - | - | - |
DSO |
33.6 | 33.9 | 36.8 | 39.0 | 135.3 | 35.7 | 48.6 | 32.6 | 34.4 | 34.8 | 41.2 | 37.6 | - | - | - | - |
DIO |
- | - | - | - | - | - | - | - | 0.8 | 3.0 | 4.2 | 5.7 | - | - | - | - |
DPO |
12.1 | 11.4 | 12.6 | 20.5 | 59.9 | 3.2 | 7.0 | 12.1 | 9.3 | 16.3 | 16.4 | 11.9 | - | - | - | - |
Operating Cycle |
33.6 | 33.9 | 36.8 | 39.0 | 135.3 | 35.7 | 48.6 | 32.6 | 35.2 | 37.8 | 45.4 | 43.3 | - | - | - | - |
Cash Conversion Cycle |
21.5 | 22.5 | 24.3 | 18.6 | 75.4 | 32.5 | 41.6 | 20.5 | 25.8 | 21.5 | 29.0 | 31.4 | - | - | - | - |
All numbers in USD currency
Quarterly Financial Ratios HealthEquity
| 2027-Q2 | 2027-Q1 | 2026-Q4 | 2026-Q3 | 2026-Q2 | 2026-Q1 | 2025-Q4 | 2025-Q3 | 2025-Q2 | 2025-Q1 | 2024-Q4 | 2024-Q3 | 2024-Q2 | 2024-Q1 | 2023-Q4 | 2023-Q3 | 2023-Q2 | 2023-Q1 | 2022-Q4 | 2022-Q3 | 2022-Q2 | 2022-Q1 | 2021-Q4 | 2021-Q3 | 2021-Q2 | 2021-Q1 | 2020-Q4 | 2020-Q3 | 2020-Q2 | 2020-Q1 | 2019-Q4 | 2019-Q3 | 2019-Q2 | 2019-Q1 | 2018-Q4 | 2018-Q3 | 2018-Q2 | 2018-Q1 | 2017-Q4 | 2017-Q3 | 2017-Q2 | 2017-Q1 | 2016-Q4 | 2016-Q3 | 2016-Q2 | 2016-Q1 | 2015-Q4 | 2015-Q3 | 2015-Q2 | 2015-Q1 | 2014-Q4 | 2014-Q3 | 2014-Q2 | 2014-Q1 | 2013-Q4 | 2013-Q3 | 2013-Q2 | 2013-Q1 | 2012-Q4 | 2012-Q3 | 2012-Q2 | 2012-Q1 | 2011-Q4 | 2011-Q3 | 2011-Q2 | 2011-Q1 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
EPS |
0.69 | 0.82 | - | 0.6 | 0.69 | 0.62 | - | 0.6 | 0.69 | 0.62 | - | 0.07 | 0.41 | 0.33 | - | 0.17 | 0.12 | 0.05 | - | -0.02 | -0.13 | -0.16 | - | -0.06 | -0.05 | -0.03 | - | 0.02 | - | 0.03 | 0.21 | -0.3 | 0.3 | 0.67 | 0.1 | 0.25 | 0.36 | 0.37 | 0.07 | 0.17 | 0.28 | 0.23 | 0.05 | 0.1 | 0.14 | 0.14 | 0.03 | 0.07 | 0.08 | 0.09 | -1.71 | 0.06 | 0.19 | 0.52 | - | 0.11 | 0.12 | 0.08 | - | - | - | - | - | - | - | - |
EBITDA per Share |
1.47 | 1.67 | - | 2.26 | 1.93 | 1.41 | - | 0.92 | 1.04 | 1.41 | - | 0.24 | 0.69 | 0.93 | - | 0.38 | 0.31 | 0.73 | - | 0.1 | 0.01 | 0.38 | - | 1.17 | 0.77 | 0.44 | - | 1.26 | 0.9 | 0.6 | - | 0.55 | 0.54 | 0.52 | - | 0.52 | 0.36 | 0.41 | - | 0.24 | 0.39 | 0.33 | - | 0.32 | 0.32 | 0.28 | 0.02 | 0.21 | 0.2 | 0.18 | 0.1 | 0.16 | 0.95 | 0.91 | - | 1.17 | 1.01 | - | - | - | - | - | - | - | - | - |
ROE % |
11.43 | 11.14 | 7.75 | 10.17 | 10.54 | 10.29 | 7.75 | 8.02 | 7.26 | 5.84 | 3.30 | 4.04 | 4.32 | 2.87 | 1.49 | 1.41 | 0.10 | -1.18 | -1.39 | -1.66 | -1.78 | -1.35 | -0.62 | -0.63 | -0.23 | -0.04 | 0.28 | 3.05 | 0.82 | 2.73 | 10.46 | 9.41 | 14.94 | 18.25 | 16.03 | 15.88 | 15.58 | 15.74 | 14.87 | 14.86 | 14.10 | 12.18 | 10.98 | 10.39 | 10.07 | 8.95 | 8.54 | 44.72 | 44.83 | 70.86 | 37.12 | 2.17 | 28.34 | - | - | - | - | - | - | - | - | - | - | - | - | - |
ROA % |
7.14 | 6.95 | 4.85 | 6.37 | 6.60 | 6.43 | 4.85 | 5.01 | 4.51 | 3.65 | 2.07 | 2.54 | 2.73 | 1.65 | 0.77 | 0.42 | -0.50 | -0.85 | -0.85 | -1.01 | -1.08 | -0.81 | -0.37 | -0.37 | -0.14 | -0.03 | 0.13 | 2.71 | 1.80 | 3.57 | 10.51 | 9.54 | 13.66 | 16.85 | 15.24 | 15.09 | 14.75 | 14.92 | 14.15 | 14.12 | 13.45 | 11.61 | 10.46 | 9.90 | 9.55 | 8.45 | 7.98 | -1.44 | -1.38 | 1.05 | -8.56 | 2.00 | 4.60 | - | - | - | - | - | - | - | - | - | - | - | - | - |
ROCE % |
11.14 | 10.88 | 7.63 | 10.04 | 10.35 | 10.15 | 7.63 | 8.22 | 7.56 | 6.16 | 3.64 | 4.68 | 4.92 | 4.39 | 3.07 | 3.26 | 2.15 | 1.07 | -0.14 | -0.15 | -0.37 | -0.15 | 0.10 | 0.56 | 0.93 | 1.58 | 1.44 | 2.41 | 4.40 | 9.27 | 8.65 | 12.77 | 16.73 | 19.41 | 14.18 | 18.21 | 19.27 | 19.78 | 14.66 | 18.22 | 19.46 | 20.16 | 14.71 | 17.82 | 18.10 | 17.81 | 11.93 | 14.86 | 42.47 | 4.99 | - | 2.93 | 30.72 | - | - | - | - | - | - | - | - | - | - | - | - | - |
Current Ratio |
2.7 | 2.6 | 2.6 | 2.7 | 2.7 | 2.6 | 2.8 | 2.7 | 2.7 | 2.6 | 2.6 | 2.6 | 2.6 | 2.8 | 2.8 | 2.8 | 2.8 | - | 2.6 | 2.6 | 2.5 | 2.5 | 2.0 | 2.5 | 2.5 | 2.4 | 1.7 | 2.0 | 2.0 | 1.7 | 15.5 | 1.7 | 13.5 | 8.9 | 16.1 | 22.9 | 20.7 | 19.9 | 16.2 | 16.4 | 22.1 | 25.2 | 13.4 | 22.3 | 22.5 | 24.4 | 10.8 | 15.5 | 17.3 | 15.4 | 2.6 | 12.5 | 5.3 | - | - | - | - | - | - | - | - | - | - | - | - | - |
DSO |
34.4 | 30.9 | - | 31.5 | 31.8 | 30.5 | - | 31.5 | 31.8 | 32.3 | - | 32.7 | 32.7 | 33.5 | - | 34.6 | 17.3 | 18.1 | - | 37.6 | 39.0 | 35.2 | - | 40.1 | 35.9 | 36.0 | 30.6 | 34.2 | 36.3 | 22.9 | 55.6 | 27.3 | 28.6 | 25.5 | 34.8 | 31.9 | 30.8 | 26.1 | 37.5 | 34.0 | 32.0 | 27.4 | 36.1 | 32.4 | 33.4 | 25.7 | 34.8 | 31.0 | 31.9 | 24.7 | 31.3 | 25.8 | 13.7 | - | - | - | - | - | - | - | - | - | - | - | - | - |
DIO |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 0.3 | 0.6 | 0.6 | 0.6 | 1.4 | - | 1.0 | 1.9 | 2.4 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
DPO |
12.9 | 13.3 | - | 14.1 | 11.3 | 10.9 | - | 14.1 | 11.3 | 11.9 | - | 9.2 | 13.7 | 13.7 | - | 13.2 | 6.2 | 6.6 | - | 16.2 | 15.2 | 7.4 | - | 5.9 | 8.5 | 7.7 | 5.6 | 11.3 | 11.7 | 6.0 | 16.7 | 8.0 | 7.6 | 6.8 | 6.2 | 6.0 | 9.1 | 11.3 | - | 9.7 | 6.8 | 8.4 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Operating Cycle |
- | - | - | - | - | - | - | 31.5 | 31.8 | 32.3 | - | 32.7 | 32.7 | 33.5 | - | 34.6 | - | - | - | 37.6 | 39.0 | 35.2 | - | 40.1 | 35.9 | 36.0 | 30.6 | 34.2 | 36.3 | 22.9 | 55.6 | 27.3 | 28.6 | 25.8 | 35.4 | 32.5 | 31.4 | 27.5 | 37.5 | 35.0 | 33.9 | 29.8 | 36.1 | 32.4 | 33.4 | 25.7 | 34.8 | 31.0 | 31.9 | 24.7 | 31.3 | 25.8 | 13.7 | - | - | - | - | - | - | - | - | - | - | - | - | - |
Cash Conversion Cycle |
- | - | - | - | - | - | - | 17.4 | 20.5 | 20.4 | - | 23.4 | 19.0 | 19.8 | - | 21.4 | - | - | - | 21.4 | 23.8 | 27.9 | - | 34.2 | 27.4 | 28.3 | 25.1 | 23.0 | 24.6 | 16.9 | 38.9 | 19.3 | 21.0 | 19.0 | 29.2 | 26.5 | 22.3 | 16.2 | 37.5 | 25.4 | 27.1 | 21.5 | 36.1 | 32.4 | 33.4 | 25.7 | 34.8 | 31.0 | 31.9 | 24.7 | 31.3 | 25.8 | 13.7 | - | - | - | - | - | - | - | - | - | - | - | - | - |
All numbers in USD currency
Multiples are an important financial analysis tool for the company HealthEquity, allowing investors and analysts to quickly assess the company’s value and investment attractiveness based on the ratio of market indicators to the company’s financial performance. Essentially, multiples express how the market values the company relative to its earnings, revenue, equity, or other key metrics.
Advantages of Using Financial Ratios- Simplified Data Analysis
Financial ratios transform large volumes of accounting data into compact and easily interpretable indicators, significantly simplifying the assessment of the company’s condition. - Comparability Between Companies
Multiples standardize financial metrics, enabling objective comparison of companies of different sizes, industries, and market capitalizations. - Identification of Trends and Issues
Regular analysis of ratios helps track the dynamics of financial health, identify strengths and weaknesses of the business, as well as potential risks. - Decision Support
Financial multiples serve as an important tool for investors, creditors, and company management in making investment, credit, and managerial decisions. - Accelerated Assessment of Investment Attractiveness
Ratios allow quick determination of key performance, liquidity, and financial stability indicators, facilitating prompt evaluation of companies’ attractiveness for investments.
Using multiples enables comparison between companies, even if they differ in size or industry, as they standardize financial data into ratios convenient for analysis. This is especially useful for evaluating companies where direct analysis of financial statements may be complex or require in-depth knowledge.
Financial Ratios of other stocks in the Health information services industry
| Issuer | Price | % 24h | Market Cap | Country | |
|---|---|---|---|---|---|
 |
Castlight Health, Inc.
CSLT
|
- | -7.28 % | $ 227 M |  USA |
 |
HMS Holdings Corp.
HMSY
|
- | - | $ 3.29 B | USA |
 |
Inovalon Holdings, Inc.
INOV
|
- | - | $ 6.37 B | USA |
 |
Signify Health
SGFY
|
- | -0.02 % | $ 7.21 B | USA |
 |
So-Young International
SY
|
$ 2.76 | 0.18 % | $ 215 M |  China |
 |
iCAD
ICAD
|
- | - | $ 102 M | USA |
 |
HealthStream
HSTM
|
$ 29.2 | 1.78 % | $ 877 M | USA |
 |
NextGen Healthcare
NXGN
|
- | - | $ 1.6 B | USA |
 |
Accolade
ACCD
|
- | 0.29 % | $ 206 M | USA |
 |
American Well Corporation
AMWL
|
$ 12.99 | 1.75 % | $ 208 M | USA |
 |
Cerner Corporation
CERN
|
- | - | $ 27.9 B | USA |
 |
Change Healthcare
CHNG
|
- | - | $ 9.03 B | USA |
 |
Computer Programs and Systems
CPSI
|
- | 4.4 % | $ 133 M | USA |
 |
Covetrus
CVET
|
- | - | $ 2.94 B | USA |
 |
Evolent Health
EVH
|
$ 4.32 | 1.29 % | $ 493 M | USA |
 |
GoodRx Holdings
GDRX
|
$ 3.48 | 2.32 % | $ 1.24 B | USA |
 |
Health Catalyst
HCAT
|
$ 1.69 | 1.18 % | $ 118 M | USA |
 |
Akerna Corp.
KERN
|
- | - | $ 161 M | USA |
 |
Allscripts Healthcare Solutions
MDRX
|
- | -10.39 % | $ 886 M | USA |
 |
MTBC
MTBC
|
- | -0.58 % | $ 51.7 M | USA |
 |
NantHealth
NH
|
- | -46.64 % | $ 10.4 M | USA |
 |
Omnicell
OMCL
|
$ 34.37 | 0.32 % | $ 1.58 B | USA |
 |
1Life Healthcare
ONEM
|
- | - | $ 3.37 B | USA |
 |
OptimizeRx Corporation
OPRX
|
$ 7.87 | 1.74 % | $ 146 M | USA |
 |
Progyny
PGNY
|
$ 25.94 | 1.22 % | $ 2.21 B | USA |
 |
Phreesia
PHR
|
$ 10.94 | 0.76 % | $ 654 M | USA |
 |
Premier
PINC
|
- | - | $ 2.33 B | USA |
 |
R1 RCM
RCM
|
- | - | $ 3.81 B | USA |
 |
Schrödinger
SDGR
|
$ 20.09 | 0.29 % | $ 1.48 B | USA |
 |
Streamline Health Solutions
STRM
|
- | - | $ 21.4 M | USA |
 |
Teladoc Health
TDOC
|
$ 6.28 | 0.15 % | $ 1.11 B | USA |
 |
Tabula Rasa HealthCare
TRHC
|
- | - | $ 255 M | USA |
 |
10x Genomics
TXG
|
$ 62.65 | 2.55 % | $ 7.82 B | USA |
 |
Veeva Systems
VEEV
|
$ 275.09 | 1.3 % | $ 45 B | USA |
 |
SCWorx Corp.
WORX
|
- | - | $ 7.71 M | USA |
 |
Zhongchao
ZCMD
|
$ 0.85 | 6.93 % | $ 2.91 M | China |