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%+1.2pp	69.5%+1.8pp	67.7%+1.3pp	66.4%+0.9pp	65.5%+0.7pp
Operating margin	25.6%+1.0pp	24.6%+1.8pp	22.7%+4.3pp	18.5%+2.1pp	16.4%+2.9pp
Net margin	17.3%+0.9pp	16.4%+1.5pp	14.9%+3.4pp	11.5%+1.7pp	9.8%+1.7pp
EBITDA margin	37.1%+0.8pp	36.3%+1.6pp	34.8%+3.9pp	30.9%+1.4pp	29.4%+2.4pp
Free cash flow margin	36.5%+1.8pp	34.7%+2.7pp	32%+3.2pp	28.8%+1.6pp	27.2%-1.0pp
Returns
Return on equity	11.1%+0.9pp	10.2%+1.2pp	9%+2.2pp	6.8%+1.0pp	5.8%+1.1pp
Return on assets	6.9%+0.6pp	6.3%+0.7pp	5.6%+1.4pp	4.2%+0.6pp	3.7%+0.7pp
Return on invested capital	9.3%+0.5pp	8.7%+0.9pp	7.9%+1.6pp	6.3%+0.7pp	5.6%+0.7pp
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×+0.2×	3.3×-0.9×	4.1×-0.1×	4.2×+0.2×	4.1×+1.0×
Quick ratio	3.4×+0.2×	3.3×-0.9×	4.1×-0.1×	4.2×+0.2×	4.1×+1.0×
Cash ratio	2×-0.1×	2×-0.5×	2.6×0.0×	2.6×+0.1×	2.5×+0.6×
Leverage
Debt-to-equity	0.5×0.0×	0.5×0.0×	0.5×0.0×	0.5×0.0×	0.5×0.0×
Debt-to-assets	0.3×0.0×	0.3×0.0×	0.3×0.0×	0.3×0.0×	0.3×0.0×
Net debt / EBITDA	1.4×0.0×	1.4×-0.2×	1.6×-0.3×	1.9×-0.3×	2.2×-0.3×
Interest coverage	6.2×+0.6×	5.6×+0.7×	5×+1.3×	3.7×+0.5×	3.2×+0.5×
Per Share
Book value per share	$24.090.0%	$24.09-1.8%	$24.54+0.3%	$24.46+1.8%	$24.02+0.9%
Valuation
Market capitalization	$6.93B-5.3%	$7.32B-10.2%	$8.15B-2.9%	$8.39B+13.0%	$7.42B-22.4%
Enterprise value	$7.65B-4.4%	$8B-9.8%	$8.87B-3.0%	$9.14B+10.9%	$8.24B-20.6%
Price / earnings	30×-4.0×	34×-8.5×	42.5×-15.0×	57.5×-3.4×	60.9×-38.0×
Price / sales	5.2×-0.4×	5.6×-0.7×	6.3×-0.3×	6.6×+0.6×	6×-2.0×
Price / book	3.4×-0.1×	3.5×-0.3×	3.8×-0.1×	3.9×+0.4×	3.5×-1.0×
EV / EBITDA	15.4×-1.4×	16.8×-3.0×	19.8×-3.6×	23.3×+0.8×	22.5×-9.4×
EV / sales	5.7×-0.4×	6.1×-0.8×	6.9×-0.3×	7.2×+0.6×	6.6×-2.0×
Free cash flow yield	7%+0.8pp	6.2%+1.2pp	5.1%+0.7pp	4.4%-0.2pp	4.5%+1.0pp
Earnings yield	3.3%+0.4pp	2.9%+0.6pp	2.4%+0.6pp	1.7%+0.1pp	1.6%+0.6pp
PEG ratio	0.3×+0.1×	0.3×-0.2×	0.4×-1.1×	1.5×+0.3×	1.2×-0.2×

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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.