Last 48 quarters of trend data · Healthcare · Medical - Healthcare Information Services
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
| Metric | TTM | Q2 '27 | Q1 '27 | Q4 '26 | Q3 '26 | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 36.60 | 32.25 | 25.01 | 36.93 | 40.08 | 35.66 | 35.13 | 92.02 | 331.45 | 49.05 | 59.78 | 62.98 | 105.41 | 141.54 | 267.25 | — | — | — | — | — | — |
| — | -9.6% | -28.8% | -59.9% | -87.9% | -27.3% | -41.2% | +46.1% | +214.4% | -65.3% | -77.6% | — | — | — | — | — | — | — | — | — | — | |
| P/S Ratio | 5.73 | 6.03 | 4.92 | 5.60 | 6.38 | 6.53 | 5.73 | 7.84 | 6.29 | 5.80 | 6.06 | 6.30 | 6.26 | 6.02 | 4.71 | 5.51 | 7.62 | 5.96 | 6.36 | 5.50 | 7.68 |
| — | -7.7% | -14.2% | -28.6% | +1.5% | +12.6% | -5.5% | +24.6% | +0.4% | -3.7% | +28.7% | +14.2% | -17.8% | +1.1% | -26.0% | +0.2% | -0.8% | -27.0% | -24.5% | -36.9% | +37.5% | |
| P/B Ratio | 3.74 | 4.25 | 3.41 | 3.56 | 3.85 | 3.97 | 3.57 | 4.63 | 3.56 | 3.23 | 3.32 | 3.25 | 3.14 | 3.01 | 2.40 | 2.72 | 3.50 | 2.63 | 2.82 | 2.41 | 2.95 |
| — | +7.1% | -4.6% | -23.1% | +8.4% | +22.9% | +7.4% | +42.5% | +13.2% | +7.2% | +38.5% | +19.4% | -10.2% | +14.2% | -15.0% | +12.6% | +18.4% | -20.6% | -16.0% | -49.3% | -0.1% | |
| P/FCF | 16.54 | 15.63 | 17.94 | 18.45 | 14.92 | 14.08 | 38.99 | 39.33 | 24.32 | — | — | 25.11 | 37.45 | 21.93 | 51.36 | 28.50 | 47.88 | 64.54 | — | 32.65 | — |
| — | +11.0% | -54.0% | -53.1% | -38.6% | — | — | +56.7% | -35.1% | — | — | -11.9% | -21.8% | -66.0% | — | -12.7% | — | -39.8% | — | -19.1% | — | |
| EV / EBITDA | 25.46 | 16.30 | 16.64 | — | 18.85 | 17.90 | 17.06 | 23.93 | 22.07 | 18.66 | 23.28 | 22.57 | 30.15 | 24.99 | 20.24 | 25.06 | 35.09 | 31.17 | 36.64 | 34.62 | 31.72 |
| — | -9.0% | -2.4% | — | -14.6% | -4.1% | -26.7% | +6.0% | -26.8% | -25.3% | +15.0% | -10.0% | -14.1% | -19.8% | -44.7% | -27.6% | +10.6% | -6.6% | +0.6% | -17.6% | +29.7% | |
| EV / EBIT | 25.46 | 22.81 | 20.61 | 32.94 | 27.41 | 24.90 | 24.47 | 58.59 | 85.84 | 31.38 | 42.76 | 41.15 | 49.42 | 59.21 | 53.17 | 102.97 | 308.15 | — | — | — | — |
| — | -8.4% | -15.8% | -43.8% | -68.1% | -20.7% | -42.8% | +42.4% | +73.7% | -47.0% | -19.6% | -60.0% | -84.0% | — | — | — | — | — | — | — | — |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
| Metric | TTM | Q2 '27 | Q1 '27 | Q4 '26 | Q3 '26 | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 69.5% | 73.5% | 72.3% | 92.4% | 62.4% | 63.1% | 59.6% | 60.7% | 56.1% | 57.7% | 56.2% | 53.4% | 54.2% | 52.5% | 51.0% | 47.5% | 47.8% | 45.4% | 42.5% | 40.5% | 46.5% |
| — | +16.6% | +21.2% | +52.2% | +11.2% | +9.3% | +6.1% | +13.7% | +3.5% | +10.0% | +10.2% | +12.4% | +13.5% | +15.5% | +19.9% | +17.4% | +2.8% | -6.3% | -6.0% | -6.9% | -2.4% | |
| Operating Margin | 24.6% | 28.1% | 29.0% | 20.1% | 24.8% | 27.9% | 25.5% | 22.9% | 18.0% | 20.2% | 15.2% | 15.7% | 13.5% | 11.0% | 10.9% | 7.8% | 5.6% | 2.6% | 1.0% | -0.4% | 7.2% |
| — | +0.9% | +13.9% | -12.2% | +37.7% | +37.8% | +67.5% | +46.2% | +33.7% | +84.0% | +39.7% | +100.2% | +141.4% | +330.1% | +1018.0% | +1937.5% | -22.1% | -68.8% | -86.3% | -106.1% | -34.8% | |
| Net Margin | 16.4% | 18.7% | 19.6% | 14.9% | 16.0% | 18.4% | 16.3% | 8.5% | 1.9% | 11.9% | 10.0% | 10.0% | 5.9% | 4.3% | 1.7% | -0.1% | -0.8% | -5.2% | -6.6% | -16.1% | -2.8% |
| — | +1.9% | +20.1% | +75.8% | +745.2% | +53.8% | +62.7% | -15.8% | -67.8% | +174.9% | +498.2% | +11339.1% | +875.3% | +184.1% | +125.3% | +99.4% | +72.9% | -156.0% | -367.1% | -666.0% | -380.7% |
| Metric | TTM | Q2 '27 | Q1 '27 | Q4 '26 | Q3 '26 | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 10.2% | 3.3% | 3.3% | 2.3% | 2.4% | 2.8% | 2.5% | 1.2% | 0.3% | 1.7% | 1.4% | 1.3% | 0.7% | 0.5% | 0.2% | -0.0% | -0.1% | -0.6% | -0.7% | -1.8% | -0.3% |
| — | +16.0% | +31.4% | +88.6% | +806.6% | +66.5% | +82.4% | -5.1% | -64.3% | +207.8% | +549.5% | +11908.1% | +950.8% | +195.5% | +129.2% | +99.4% | +67.5% | -178.3% | -353.9% | -548.9% | -303.3% | |
| ROA | 6.3% | 2.0% | 2.1% | 1.5% | 1.5% | 1.8% | 1.6% | 0.8% | 0.2% | 1.1% | 0.9% | 0.8% | 0.5% | 0.3% | 0.1% | -0.0% | -0.1% | -0.3% | -0.4% | -1.1% | -0.2% |
| — | +13.9% | +31.2% | +91.6% | +831.3% | +65.3% | +74.7% | -9.8% | -65.8% | +205.6% | +572.4% | +12492.6% | +990.5% | +199.9% | +130.2% | +99.4% | +66.8% | -186.9% | -396.1% | -628.8% | -340.0% | |
| ROIC | 8.5% | 2.7% | 2.8% | 1.8% | 2.1% | 2.3% | 2.2% | 1.8% | 1.4% | 1.6% | 1.2% | 1.2% | 1.0% | 0.8% | 0.8% | 0.5% | 0.3% | 0.1% | 0.1% | -0.0% | 0.4% |
| — | +15.9% | +28.9% | -2.1% | +52.2% | +49.1% | +77.1% | +52.7% | +41.0% | +103.8% | +60.6% | +131.3% | +187.9% | +423.6% | +1244.1% | +2040.1% | -23.2% | -72.6% | -87.6% | -105.8% | -35.8% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
| Metric | TTM | Q2 '27 | Q1 '27 | Q4 '26 | Q3 '26 | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.48 | 0.49 | 0.48 | 0.48 | 0.48 | 0.49 | 0.52 | 0.52 | 0.53 | 0.54 | 0.47 | 0.46 | 0.47 | 0.48 | 0.49 | 0.52 | 0.53 | 0.54 | 0.54 | 0.54 | 0.54 |
| — | -0.7% | -7.7% | -9.3% | -9.8% | -8.4% | +11.1% | +14.3% | +13.6% | +11.8% | -4.5% | -12.6% | -11.3% | -10.6% | -9.4% | -3.6% | -1.8% | -5.3% | -5.3% | -30.2% | -33.0% | |
| Debt / EBITDA | 3.11 | 6.90 | 8.52 | — | 8.67 | 8.16 | 8.99 | 10.01 | 11.98 | 11.10 | 11.89 | 11.80 | 16.47 | 14.37 | 14.34 | 16.91 | 19.00 | 21.78 | 24.24 | 26.56 | 21.77 |
| — | -15.4% | -5.2% | — | -27.6% | -26.5% | -24.4% | -15.1% | -27.3% | -22.8% | -17.1% | -30.2% | -13.3% | -34.0% | -40.8% | -36.3% | -12.7% | +0.1% | +2.7% | +7.5% | -2.1% | |
| Current Ratio | 3.27 | 2.99 | 3.44 | 3.27 | 4.13 | 4.23 | 4.06 | 3.06 | 3.20 | 4.10 | 4.39 | 4.76 | 4.93 | 4.09 | 4.00 | 2.92 | 3.01 | 2.46 | 2.37 | 2.29 | 7.14 |
| — | -29.2% | -15.4% | +6.9% | +29.0% | +3.1% | -7.4% | -35.8% | -35.0% | +0.2% | +9.8% | +63.0% | +63.8% | +66.4% | +68.6% | +27.4% | -57.8% | -47.1% | -47.3% | +2.0% | +172.7% | |
| Quick Ratio | 3.27 | 2.99 | 3.44 | 3.27 | 4.13 | 4.23 | 4.06 | 3.06 | 3.20 | 4.10 | 4.39 | 4.76 | 4.93 | 4.09 | 4.00 | 2.92 | 3.01 | 2.46 | 2.37 | 2.29 | 7.14 |
| — | -29.2% | -15.4% | +6.9% | +29.0% | +3.1% | -7.4% | -35.8% | -35.0% | +0.2% | +9.8% | +63.0% | +63.8% | +66.4% | +68.6% | +27.4% | -57.8% | -47.1% | -47.3% | +2.0% | +172.7% | |
| Interest Coverage | 5.64 | 7.97 | 7.41 | 4.68 | 5.81 | 6.22 | 5.78 | 2.96 | 1.34 | 4.02 | 3.82 | 3.18 | 2.56 | 2.07 | 1.67 | 1.00 | 0.49 | -0.21 | -0.73 | -3.07 | -0.10 |
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Includes 30+ ratios · 48 years · Updated daily
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Quick answers to the most common questions about buying HQY stock.
HealthEquity, Inc.'s current P/E is 36.6x. The average P/E over the last 4 quarters is 33.6x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
HealthEquity, Inc.'s current operating margin is 24.6%. Margins have been expanding over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking HealthEquity, Inc.'s business trajectory between earnings reports.