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%+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
EBITDA margin	37.1%+7.7pp	36.3%+9.3pp	34.8%+6.9pp	30.9%+1.0pp	29.4%+1.7pp
Free cash flow margin	36.5%+9.3pp	34.7%+6.5pp	32%+2.5pp	28.8%+1.0pp	27.2%+0.9pp
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 assets	6.9%+3.2pp	6.3%+3.4pp	5.6%+2.6pp	4.2%+1.0pp	3.7%+1.1pp
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×
Quick ratio	3.4×-0.6×	3.3×+0.2×	4.1×+0.9×	4.2×+0.1×	4.1×-0.3×
Cash ratio	2×-0.5×	2×+0.1×	2.6×+0.5×	2.6×-0.1×	2.5×-0.2×
Leverage
Debt-to-equity	0.5×0.0×	0.5×0.0×	0.5×-0.1×	0.5×0.0×	0.5×+0.1×
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×-0.8×	1.4×-1.1×	1.6×-0.9×	1.9×-0.6×	2.2×-0.3×
Interest coverage	6.2×+3.0×	5.6×+3.0×	5×+2.3×	3.7×+0.6×	3.2×+0.6×
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%
Enterprise value	$7.65B-7.2%	$8B-22.9%	$8.87B+7.6%	$9.14B+20.0%	$8.24B+9.7%
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×
EV / sales	5.7×-0.9×	6.1×-2.6×	6.9×-0.3×	7.2×+0.3×	6.6×-0.6×
Free cash flow yield	7%+2.5pp	6.2%+2.7pp	5.1%+0.5pp	4.4%-0.1pp	4.5%+0.5pp
Earnings yield	3.3%+1.7pp	2.9%+1.9pp	2.4%+1.1pp	1.7%+0.2pp	1.6%+0.5pp
PEG ratio	0.3×-0.8×	0.3×—	0.4×—	1.5×—	1.2×—

Chart any of these lines over time, or line them up against competitors.

Compare these in charts →

Ask your AI about HealthEquity.

Connect your AI assistant and get a quick read on the numbers, right in your chat.

Connect your AI

Claude

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.