What are HealthEquity's profit margins?

HealthEquity (HQY) runs a 70.7% gross margin and a 25.6% operating margin, with a 17.3% net margin.

Where do HealthEquity's ratios come from?

Every ratio is computed from HealthEquity's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.

HealthEquity HQY Ratios & Valuation

Income Statement Balance Sheet Cash Flow Ratios Segments

Quarterly Annual TTM

YoY QoQ

Simplified Detailed

	Q1 '27	Q4 '26	Q3 '26	Q2 '26	Q1 '26
Profitability
Gross margin	70.7%+5.2pp	69.5%+4.7pp	67.7%+2.4pp	66.4%+1.5pp	65.5%+2.1pp
Operating margin	25.6%+9.2pp	24.6%+11.0pp	22.7%+8.9pp	18.5%+3.0pp	16.4%+3.3pp
Net margin	17.3%+7.5pp	16.4%+8.3pp	14.9%+6.5pp	11.5%+1.9pp	9.8%+2.1pp
Returns
Return on equity	11.1%+5.3pp	10.2%+5.5pp	9%+4.3pp	6.8%+1.6pp	5.8%+1.8pp
Return on invested capital	9.3%+3.7pp	8.7%+3.8pp	7.9%+3.1pp	6.3%+1.3pp	5.6%+1.5pp
Efficiency
Asset turnover	0.4×0.0×	0.4×0.0×	0.4×0.0×	0.4×0.0×	0.4×0.0×
Liquidity
Current ratio	3.4×-0.6×	3.3×+0.2×	4.1×+0.9×	4.2×+0.1×	4.1×-0.3×
Leverage
Debt-to-equity	0.5×0.0×	0.5×0.0×	0.5×-0.1×	0.5×0.0×	0.5×+0.1×
Net debt / EBITDA	1.4×-0.8×	1.4×-1.1×	1.6×-0.9×	1.9×-0.6×	2.2×-0.3×
Per Share
Book value per share	$24.09+0.3%	$24.09+1.2%	$24.54+2.4%	$24.46+0.5%	$24.02+1.1%
Valuation
Market capitalization	$6.93B-6.7%	$7.32B-23.5%	$8.15B+9.7%	$8.39B+23.6%	$7.42B+9.4%
Price / earnings	30×-30.9×	34×-64.9×	42.5×-34.3×	57.5×-6.7×	60.9×-23.4×
Price / sales	5.2×-0.8×	5.6×-2.4×	6.3×-0.1×	6.6×+0.4×	6×-0.5×
Price / book	3.4×-0.1×	3.5×-1.1×	3.8×+0.3×	3.9×+0.8×	3.5×+0.3×
EV / EBITDA	15.4×-7.1×	16.8×-15.2×	19.8×-6.0×	23.3×+0.2×	22.5×-3.5×

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Questions, answered.

What are HealthEquity's profit margins?: HealthEquity (HQY) runs a 70.7% gross margin and a 25.6% operating margin, with a 17.3% net margin.
Where do HealthEquity's ratios come from?: Every ratio is computed from HealthEquity's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.