HEALTHEQUITY, INC. · Business Services, NEC

HQY

Low riskNext report: Around Dec 2 (est.)

View price ↗

The short version

A profitable company with steady sales. Insiders and institutions are both adding.

Going well

Profitable, keeps 16% of sales as profit
Brings in more cash than it spends

Money moves

An insider bought $12K of shares with their own money in the last 30 days
Institutions added 4.1% to their holdings in the quarter ending June 2026 (279 bought, 211 sold)

Facts from SEC filings, not a recommendation.

What the price means

Price as of Oct 26

$103.78-0.2% that day

Latest insider buy: An insider bought at $91.16 on Oct 15. The stock is now $103.78, +13.8% since.

Company value: $8.6B; Share price times all shares
Price vs profit (P/E): 37.5x; You pay about $37 for each $1 of yearly profit
Price vs sales: 6.3x; Company value is 6.3 times a year of sales
Cash vs value: 3%; Cash as a share of company value
Debt vs value: 11%; Debt as a share of company value

From HQY's last IEX trade and its SEC filings (profits and sales over the last four quarters). A starting point for research, not a verdict.

The business over time

Last 12 quarters, from SEC filings

Sales, Jul '26

$350.7M+7.6% vs a year earlier

Oct '23Tap a barJul '26

Last 12 months: $1.4B, up 7.3% from the 12 months before. Over 5 years, sales grew about 12% a year.

What the price assumes

Your guesses, our math

Move the sliders to your own view of HQY. Starting points are the company's recent numbers.

Sales growth+7% a yearRecently: +7.3% a yearProfit margin17%Last 12 months: 17.4%P/E at the end37xToday: 37.5x. Many steady companies trade at 12x to 25xShare count change+1% a yearBelow zero means buybacks; above zero means new shares (dilution)

Sales in 5 years$1.9B

Profit in 5 years$325M

Price these guesses point to$138.23+33% vs $103.78 todayAbout +5.9% a year, before dividends

What today's price needs: with a 17% margin and a 37x P/E, sales would have to grow about 1.0% a year for 5 years just to match today's price.

Simple math on your guesses, not a forecast or a price target. Real results depend on many things these sliders leave out.

Price

Price chart by TradingView.

Business quality

The checklist Warren Buffett-style investors use. Annual numbers for 2025.

4/7Mixed

MissReturn on equity 15%+Earns a lot on the money owners have in the business.10.2%
PassDebt under half of equityNot relying on borrowed money.0.45x equity
PassNet margin 10%+Keeps at least 10 cents of profit from each dollar of sales.16.4%
MissProfitable every yearSteady profits, not one good year.8 of 10 years
PassFree cash flow positiveBrings in more cash than it spends to run and grow.$455.1M
MissShare count not growingNot diluting owners. Falling means buybacks.+3.6% in 3 years
PassGross margin 40%+Pricing power: sells for well above what it costs to make.69.5%

Revenue: $1.3B; +9.5% vs prior year
5-year growth: +12.4%/yr; revenue, per year
Total debt: $957.4M; 0.45x equity
Current ratio: 3.27x; short-term assets / bills due

From annual reports filed with the SEC. A checklist is a starting point for research, not a verdict.

Latest quarter

Quarter ended Jul 31, 2026

Reported Aug 27

Revenue: $350.7M; +7.6% YoY
EPS: $0.78; vs $0.68
Op. margin: 28.1%; +0.6 pts
Gross margin: 73.5%; +2.1 pts
Free cash flow: $135.2M
Share count: -4.3%; vs a year ago

Insider rating

Last 90 days

51Mixed

1 insider bought $12K
1 insider sold $13K (not pre-planned)

50 is neutral. Buying by more insiders, top executives and bigger stakes raises it. Selling lowers it; pre-planned sales count less.

Weekly insider trend

13 weeks agoBoughtSoldThis week

Filing buzz

Last 7 days vs normal

0/ 100

This week: 0
Normal week: 1.9
vs normal: 0.0x

SEC filings of any kind. 50 means a normal week.

Institutional ownership

Accumulating+4.1%

Institutions added 4.1% to their holdings. 279 bought, 211 sold.

Shares held by institutions89.8M

Sep '24Jun '26

Safety check

From SEC filings

Share count growthYearly rate, last 3 years

-1.2%

Cash runwayAt last year's cash burn

Cash flow positive

Debt to equityLatest balance sheet: debt compared with what owners have

0.5x · $931.1M debt

Shares outstandingLatest reported

83M

Earnings reports

Last 12

Next reportAround Dec 2 (est.)Estimated from the same quarter last year

Results filedAug 27
Results filedMay 28
Results filedMar 17
Results filedFeb 17
Results filedDec 3, 2025

Flags and big holders

Offerings 6 months, flags 12 months, holders 90 days

5%+ holder update (passive)Oct 9 · View filing ↗Big holder 5%+ holder update (passive)Jul 31 · View filing ↗Big holder

Insider trades

Open-market buys and sells, last 90 days

Bought$12K1 insider

Sold$13K1 insider, 0 pre-planned

Insider	Trade	Shares	Avg price	Value	Owns after	Date
Sunil RajasekarEVP Chief Prod & Strat Officer	Buy	131	$91.16	$12K	53K	Oct 15Filing ↗
+0.2% of their holdings $90.33 to $95.06 across 2 trades Traded Jul 8 to Oct 15 Filed 4 days after
Sunil RajasekarEVP Chief Prod & Strat Officer	Sell	131	$101.60	$13K	53K	Aug 24Filing ↗
-0.2% of their holdings $82.81 to $105.60 across 2 trades Traded Apr 22 to Aug 24 Not a pre-planned sale Filed 56 days after