HealthEquity, Inc. (HQY) P/E Ratio History
Historical price-to-earnings valuation from 2015 to 2026
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HQY Valuation Context
How does the current P/E compare to historical and market benchmarks?
P/E Ratio Analysis
As of May 8, 2026, HealthEquity, Inc. (HQY) trades at a price-to-earnings ratio of 34.5x, with a stock price of $84.84 and trailing twelve-month earnings per share of $2.46.
The current P/E is 95% below its 5-year average of 643.4x. Over the past five years, HQY's P/E has ranged from a low of 34.8x to a high of 6014.6x, placing the current valuation at the 0th percentile of its historical range.
Compared to the Healthcare sector median P/E of 22.2x, HQY trades at a 55% premium to its sector peers. The sector includes 241 companies with P/E ratios ranging from 0.0x to 176.0x.
The PEG ratio of 0.42 (P/E divided by 126% EPS growth) suggests the stock may be undervalued relative to its earnings growth. Peter Lynch popularized the rule that a PEG below 1.0 indicates an attractive entry point.
Relative to the broader market, HQY commands a significant premium over the S&P 500 median P/E of 24.9x. Investors should consider the company's growth prospects, competitive position, and earnings quality when evaluating whether the current valuation is justified.
For a comprehensive intrinsic value estimate using discounted cash flow analysis, see our HQY DCF Valuation Calculator →
Note: P/E ratio is just one valuation metric. It does not account for balance sheet strength, cash flow quality, or growth sustainability. Always conduct comprehensive due diligence before making investment decisions.
HQY P/E vs Peers
P/E ratio compared to closely matched public peers
| Company | Market Cap | P/E Ratio | PEG Ratio | EPS Growth (1Y) |
|---|---|---|---|---|
| $5B | 16.7 | - | +13% | |
| $16B | 34.1 | - | +7% | |
| $2B | 6.9Lowest | 0.67 | +817% | |
| $12B | 170.9 | - | +1192%Best | |
| $6B | 27.6 | 0.98 | +11% | |
| $7B | 16.9 | 0.63Best | -9% | |
| $86B | 21.3 | 1.80 | +10% | |
| $34B | 20.5 | 2.40 | -2% | |
| $345B | 28.7 | - | -15% | |
| $116B | 65.1 | - | -62% |
Peers sorted by market capitalization. P/E below peers may indicate undervaluation or lower growth expectations. Consider PEG ratio for growth-adjusted comparison.
HQY Historical P/E Data (2015–2026)
Quarterly P/E ratios calculated from closing price and TTM EPS
| Quarter | Date | Price | TTM EPS | P/E Ratio | vs Avg |
|---|---|---|---|---|---|
| FY2026 Q4 | Sat Jan 31 2026 00:00:00 GM | $85.67 | $2.46 | 34.8x | -91% |
| FY2026 Q3 | Fri Oct 31 2025 00:00:00 GM | $94.58 | $2.18 | 43.4x | -89% |
| FY2026 Q2 | $97.00 | $1.65 | 58.6x | -85% | |
| FY2026 Q1 | Wed Apr 30 2025 00:00:00 GM | $85.72 | $1.37 | 62.4x | -84% |
| FY2025 Q4 | Fri Jan 31 2025 00:00:00 GM | $110.42 | $1.09 | 100.9x | -73% |
| FY2025 Q3 | $85.25 | $1.09 | 77.9x | -80% | |
| FY2025 Q2 | Wed Jul 31 2024 00:00:00 GM | $78.48 | $1.20 | 65.4x | -83% |
| FY2025 Q1 | $78.91 | $0.92 | 85.8x | -77% | |
| FY2024 Q4 | Wed Jan 31 2024 00:00:00 GM | $75.58 | $0.64 | 118.1x | -69% |
| FY2024 Q3 | $71.68 | $0.34 | 212.4x | -44% | |
| FY2024 Q2 | Mon Jul 31 2023 00:00:00 GM | $67.94 | $0.15 | 458.7x | +21% |
| FY2022 Q2 | Sat Jul 31 2021 00:00:00 GM | $73.98 | $0.01 | 6014.6x | +1481% |
Average P/E for displayed period: 380.5x
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Start ComparisonHQY — Frequently Asked Questions
Quick answers to the most common questions about buying HQY stock.
Is HQY stock overvalued or undervalued?
HQY trades at 34.5x P/E, below its 5-year average of 643.4x. At the N/A percentile of historical range, the stock is priced at a discount to its own history.
How does HQY's valuation compare to peers?
HealthEquity, Inc. P/E of 34.5x compares to sector median of 22.2x. The premium reflects expected growth above peers.
What is HQY's PEG ratio?
HQY PEG ratio is 0.42. Below 1.0 indicates valuation is supported by earnings growth rate. Historical P/E data spans 2015-2026.