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

	TTM Q1 '27	TTM Q4 '26	TTM Q3 '26	TTM Q2 '26	TTM 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
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 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×
Leverage
Debt-to-equity	0.5×0.0×	0.5×0.0×	0.5×0.0×	0.5×0.0×	0.5×0.0×
Net debt / EBITDA	1.4×0.0×	1.4×-0.2×	1.6×-0.3×	1.9×-0.3×	2.2×-0.3×
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%
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×

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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.