What is HealthEquity's market cap?

HealthEquity (HQY) has a market capitalization of $7.9B and trades on NASDAQ.

What is HealthEquity's revenue and profitability?

HealthEquity generated $1.3B in trailing twelve-month revenue with net income of $230.7M, representing a net margin of 17.3%. Gross margin stands at 70.7%, with free cash flow of $487.6M. These figures are based on the Q2 2026 filing.

Who are HealthEquity's competitors?

HealthEquity's key competitors include Optum, WEX Inc., Webster Bank, and others. These companies compete in similar markets and product categories.

Who does HealthEquity partner with?

HealthEquity's notable partners include Conduent Business Services, LLC, Charles Schwab.

What subsidiaries does HealthEquity have?

HealthEquity's subsidiaries include HealthEquity Advisors, LLC.

Where is HealthEquity headquartered?

HealthEquity is headquartered in United States of America and employs approximately 3,150 people. It has been publicly traded since 2014.

HealthEquity

HQY

HealthEquity is a leading provider of technology-enabled services for managing health savings accounts (HSAs) and other consumer-directed benefits.

Market cap

$7.93B-5.7%

Revenue$1.3B+7.6%

Net income$230.7M+89.4%

Free cash flow$487.6M+44.4%

EPS (diluted)$2.67+94.9%

Trailing twelve months · change vs. prior year

Table of contents

Earnings

Q1 2027 report

May 28, 2026

Revenue$354.6MBeat by $2.6M EPS$1.24Beat by $0.13

Read the full report

Next report

Sep 1, 2026 (in 2 months)

Revenue estimate$348.9M

EPS estimate$1.19

Financials

Q1 2027

Income statement

See full

Revenue$354.6M+7.2%

Gross profit$256.3M+14.3%

Operating income$103.0M+23.9%

Net income$69.4M+28.8%

EPS (diluted)$0.82+34.4%

Balance sheet

See full

Cash & equivalents$265.4M-7.8%

Total debt$984.7M-11.0%

Total equity$2.0B-3.6%

Total assets$3.3B-3.2%

Cash flow

See full

Operating cash flow$97.5M+50.6%

CapEx$362.0K+321%

Free cash flow$97.2M+50.3%

Valuation & ratios

Valuation

See full

Market cap$7.93B-5.7%

Enterprise value$8.65B-10.2%

P/E34.4×-37.9×

P/S5.9×-1.2×

Profitability

See full

Gross margin70.7%+5.2pp

Operating margin25.6%+9.2pp

Net margin17.3%+7.5pp

FCF margin36.5%+9.3pp

Returns & leverage

See full

Return on equity11.1%+5.3pp

Debt / equity0.5×0.0×

Current ratio3.4×-0.6×

Segments

By product

See full

Custodial revenue$174.3M+11.4%

Service revenue$122.9M+2.6%

Interchange revenue$57.4M+5.1%

Competitors

By market cap

UnitedHealth Group$392.03B+42.3%

CVS Health$131.18B+55.5%

Webster Financial Corporation$12.4B+26.3%

HQY

HealthEquity$7.9B-10.0%

WEX$5.3B+4.1%

Community Financial System$3.5B+11.5%

Evolent Health, Inc.$633.3M-53.7%

CareCloud, Inc.$96.9M-3.0%

By revenue growth

Webster Financial Corporation+11.5%

CareCloud, Inc.+10.3%

UnitedHealth Group+9.7%

Community Financial System+9.1%

CVS Health+7.6%

HQY

HealthEquity+7.6%

WEX+3.3%

Evolent Health, Inc.-21.3%

By net margin

Webster Financial Corporation34.88%+5.2pp

Community Financial System26.11%+1.1pp

HQY

HealthEquity17.25%+7.5pp

WEX11.5%-0.6pp

CareCloud, Inc.7.87%-1.1pp

UnitedHealth Group2.68%-2.7pp

CVS Health0.719%-0.7pp

Evolent Health, Inc.-26.29%-21.7pp

Profile

HealthEquity is a leading provider of technology-enabled services for managing health savings accounts (HSAs) and other consumer-directed benefits. The company empowers consumers to save, spend, and invest their healthcare dollars through a proprietary cloud-based platform integrated with health plans and employers. Its value proposition centers on a 'Purple' service culture and a B2B2C distribution model that simplifies the management of tax-advantaged healthcare funds.

Competitive position

HealthEquity is the largest HSA provider by number of accounts and the second largest by HSA assets in the United States. It maintains a significant competitive advantage through deep integration with over 200 network partners including health plans and retirement recordkeepers.

GeographiesUnited States

Customer segmentsEnterprise employers, Health insurance carriers, Retail consumers, Benefits brokers

Business modelB2B2C, Cloud-based SaaS, Transaction-based, Asset-based fees

SuppliersCloud infrastructure providers, Payment card networks, Mutual fund families, Data center operators

CustomersCorporate employers, Health plan members, Benefits advisors, Human resources departments

CountryUnited States of America

Listed2014

Employees3.2K

CEOScott R. Cutler

SectorHealthcare

IndustryMedical - Healthcare Information Services

Websitehealthequity.com

FilingsSEC EDGAR

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Questions, answered.

What is HealthEquity's market cap?: HealthEquity (HQY) has a market capitalization of $7.9B and trades on NASDAQ.
What is HealthEquity's revenue and profitability?: HealthEquity generated $1.3B in trailing twelve-month revenue with net income of $230.7M, representing a net margin of 17.3%. Gross margin stands at 70.7%, with free cash flow of $487.6M. These figures are based on the Q2 2026 filing.
Who are HealthEquity's competitors?: HealthEquity's key competitors include Optum, WEX Inc., Webster Bank, and others. These companies compete in similar markets and product categories.
Who does HealthEquity partner with?: HealthEquity's notable partners include Conduent Business Services, LLC, Charles Schwab.
What subsidiaries does HealthEquity have?: HealthEquity's subsidiaries include HealthEquity Advisors, LLC.
Where is HealthEquity headquartered?: HealthEquity is headquartered in United States of America and employs approximately 3,150 people. It has been publicly traded since 2014.