Saturday 17 October 2026 Export HQY’s income statement to Excel — free account

HealthEquity, Inc.

HQY Healthcare Health Information Services

HealthEquity, Inc.’s revenue for fiscal 2026 (year ended January 2026) was $1.3 billion, up 9.47% from fiscal 2025. In the quarter to July 2026, revenue grew 7.64%, EPS grew 14.5%, free cash flow fell 3.44% and total debt fell 7.53%, each against the same quarter a year earlier. Revenue growth for ten consecutive years, operating cash flow growth for three.

92.03 0.48 −0.52%

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Market cap: $7.7B
P/E: 33.0×
Fwd P/E: 30.2×
Dividend yield: —
F-score: 9/9
Altman Z: 4.39
Beneish M: −2.77
Dividend safety: n/a

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

	Jan '17	Jan '18	Jan '19	Jan '20	Jan '21	Jan '22	Jan '23	Jan '24	Jan '25	Jan '26
Piotroski F-Score Full definition →	8	6	7	3	5	4	7	8	6	9
P/E ratio Full definition →	102.78	64.90	52.39	98.60	710.59	0.00	0.00	116.28	99.48	34.97
P/S ratio Full definition →	15.20	13.30	13.42	8.32	8.49	5.87	5.96	6.47	8.00	5.71
Altman Z-Score Full definition →	96.66	82.26	72.62	2.22	3.33	2.50	3.04	4.13	5.02	4.39
Altman Z″-Score (non-manufacturers) Full definition →	21.69	21.98	22.03	1.55	2.05	2.10	2.38	3.27	2.79	3.26
P/FCF ratio Full definition →	82.36	63.18	39.18	70.35	73.53	1,135.06	163.00	32.87	0.00	18.37
P/Operating CF Full definition →	186.17	154.02	118.11	143.11	102.21	87.87	92.60	83.91	126.63	63.60
Beneish M-Score Full definition →	(2.70)	(2.65)	(2.80)	(2.73)	(2.60)	(2.50)	(2.66)	(2.72)	(2.73)	(2.77)
P/B ratio Full definition →	10.35	8.82	8.08	4.30	4.51	2.40	2.71	3.18	4.54	3.56
Price to Tangible BV Full definition →	14.10	11.83	9.81	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EV/Sales Full definition →	14.19	12.25	12.16	10.26	9.38	6.80	6.74	6.96	8.64	6.21
EV/EBITDA Full definition →	46.52	39.96	36.42	40.40	44.40	43.85	33.48	25.42	31.73	17.06
EV/Operating CF Full definition →	55.51	34.42	30.80	51.96	37.90	36.51	38.56	28.64	30.51	17.84
EV/FCF Full definition →	76.88	58.20	35.51	86.70	81.30	1,315.29	184.29	35.35	(62.62)	19.97
Quick Ratio Full definition →	12.57	12.78	13.33	1.73	1.96	2.04	2.68	4.35	2.65	2.82
Current Ratio Full definition →	12.79	12.95	13.58	1.96	2.25	2.29	2.92	4.76	3.06	3.27
Net Debt/EBITDA Full definition →	(3.32)	(3.41)	(3.77)	7.62	4.24	6.01	3.87	1.72	2.33	1.34
Debt/Assets Full definition →	0.00%	0.00%	0.00%	47.59%	36.40%	29.96%	29.96%	27.66%	30.63%	28.32%
Debt/Equity Full definition →	0.00	0.00	0.00	1.18	0.72	0.50	0.49	0.43	0.50	0.45
Asset Turnover Full definition →	0.72	0.71	0.65	0.35	0.28	0.26	0.28	0.32	0.36	0.38
Operating CF/Net income Full definition →	1.73	1.73	1.53	2.65	20.56	(3.18)	(5.76)	4.36	3.51	2.12
Capex/Depreciation Full definition →	(0.96)	(2.09)	(0.82)	(0.72)	(0.80)	(0.97)	(0.72)	(0.30)	(3.07)	(0.31)
Interest Coverage Full definition →	—	198.61	287.67	3.11	0.98	(0.66)	0.19	2.12	2.68	5.64
ROE Full definition →	11.33%	15.57%	17.95%	5.26%	0.73%	(2.74%)	(1.39%)	2.83%	4.66%	10.19%
ROA Full definition →	10.57%	14.61%	16.81%	2.58%	0.33%	(1.52%)	(0.84%)	1.78%	2.92%	6.30%
ROIC Full definition →	31.57%	32.08%	41.99%	2.34%	1.04%	(0.59%)	0.22%	2.94%	3.53%	7.34%
Return on Tangible Assets Full definition →	13.86%	18.74%	19.77%	22.18%	3.10%	(19.99%)	(9.88%)	12.48%	29.79%	60.01%
Average Days of Receivables Full definition →	34.79	34.35	32.62	48.62	36.21	42.18	41.02	38.30	35.90	34.37
Research and Development Expense of Revenue Full definition →	12.54%	11.93%	12.20%	14.58%	17.01%	20.80%	22.44%	21.89%	19.96%	19.99%
Selling, General and Administrative Expense of Revenue Full definition →	21.57%	21.02%	21.77%	19.65%	18.33%	19.04%	19.30%	18.30%	18.59%	16.38%
Intangible Assets out of Total Assets Full definition →	0.25	0.24	0.17	0.82	0.77	0.84	0.84	0.79	0.83	0.81
Share Based Compensation of Revenue Full definition →	4.71%	6.23%	7.33%	7.49%	5.84%	6.97%	7.27%	7.72%	8.04%	5.56%
Graham Net Nets Full definition →	0.07	0.08	0.09	(0.28)	(0.14)	(0.20)	(0.16)	(0.09)	(0.09)	(0.10)
Graham Number Full definition →	6.73	10.04	14.37	15.22	7.02	0.00	0.00	18.65	24.66	37.02
Earnings Yield Full definition →	0.97%	1.54%	1.91%	1.01%	0.14%	(0.99%)	(0.51%)	0.86%	1.01%	2.86%
Free Cash Flow Yield Full definition →	1.21%	1.58%	2.55%	1.42%	1.36%	0.09%	0.61%	3.04%	(1.73%)	5.44%
Revenue per Share Full definition →	3.04	3.81	4.65	7.94	9.88	9.10	10.21	11.68	13.81	15.25
Operating CF per Share Full definition →	0.78	1.35	1.83	1.57	2.45	1.70	1.78	2.84	3.91	5.31
Capex per Share Full definition →	(0.22)	(0.55)	(0.24)	(0.63)	(1.31)	(1.65)	(1.41)	(0.54)	(5.82)	(0.57)
Free Cash Flow per Share Full definition →	0.56	0.80	1.59	0.94	1.14	0.05	0.37	2.30	(1.91)	4.74
Cash per Share Full definition →	3.08	3.98	5.85	2.86	4.43	2.71	3.01	4.72	3.41	3.70
Shareholders Equity per Share Full definition →	4.47	5.74	7.72	15.37	18.57	22.28	22.45	23.78	24.35	24.46
Interest Debt per Share Full definition →	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Book value per Share Full definition →	4.47	5.74	7.72	15.37	18.57	22.28	22.45	23.78	24.35	24.46
Free Cash Flow Full definition →	32.92	48.32	98.38	62.94	84.66	3.91	31.52	196.75	(165.60)	408.32
Working Capital Full definition →	185.12	244.91	365.62	145.36	255.48	198.15	251.83	440.35	321.43	355.43
Capital Expenditures Full definition →	(12.67)	(33.38)	(15.04)	(42.07)	(96.96)	(137.08)	(119.13)	(46.07)	(505.45)	(48.78)
Net Current Asset Value Full definition →	183.62	242.51	361.74	(1,237.39)	(871.50)	(903.19)	(810.37)	(571.33)	(855.89)	(760.85)
EV/EBIT Full definition →	61.40	51.68	44.98	70.86	202.34	0.00	641.42	59.10	63.88	25.29
Capex to Sales Full definition →	0.07	0.15	0.05	0.08	0.13	0.18	0.14	0.05	0.42	0.04
Price to Operating Income Full definition →	65.78	56.10	49.63	57.50	183.00	0.00	567.33	54.94	59.09	23.26
Other line items
Depreciation/Fixed assets Full definition →	2.55	2.04	2.22	1.73	4.16	6.06	12.79	25.93	50.79	49.01
Cash ROIC Full definition →	7.44%	8.24%	11.73%	2.58%	3.14%	0.13%	1.03%	5.94%	(4.78%)	12.07%
Accounts Receivable Turnover Full definition →	11.39	11.89	12.15	11.02	10.21	9.45	9.35	9.91	10.77	10.87
Accounts Payable Turnover Full definition →	25.48	33.54	35.71	54.96	113.78	22.76	17.85	29.06	32.01	30.19
Inventory Turnover Full definition →	118.84	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Average Days of Payables Full definition →	16.33	9.34	12.12	7.05	1.85	30.30	13.72	11.66	12.41	11.09
Days of Inventory on Hand Full definition →	3.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Average Receivables Full definition →	15.65	19.30	23.64	48.27	71.82	80.10	92.13	100.86	111.45	120.85
Average Payables Full definition →	2.83	2.82	2.97	3.75	2.80	14.58	20.72	12.97	13.20	13.26
Average Inventory Full definition →	0.61	—	—	—	—	—	—	—	—	—
Average Assets Full definition →	249.47	324.15	439.59	1,537.50	2,637.69	2,908.75	3,098.00	3,126.35	3,306.17	3,414.44
Average Common Equity Full definition →	232.70	304.11	411.68	753.69	1,204.51	1,615.65	1,874.11	1,965.33	2,074.97	2,111.05

Fold the line items

Columns are period end dates

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