Financial Overview

Latest Annual: 2025

Income Metrics

Revenue 1.2B
Gross Profit 777.3M 64.78%
Operating Income 202.9M 16.91%
Net Income 96.7M 8.06%
EPS (Diluted) $1.09

Balance Sheet Metrics

Total Assets 3.4B
Total Liabilities 1.3B
Shareholders Equity 2.1B
Debt to Equity 0.63

Cash Flow Metrics

Operating Cash Flow 338.3M
Free Cash Flow -165.6M

Revenue & Profitability Trend

HealthEquity Income Statement From 2021 to 2025

Metric 2025 2024 2023 2022 2021
Revenue 1.2B 999.6M 861.7M 756.6M 733.6M
Cost of Goods Sold 422.5M 377.0M 369.8M 331.8M 318.2M
Gross Profit 777.3M 622.6M 491.9M 424.8M 415.3M
Operating Expenses 462.5M 401.7M 359.7M 301.4M 259.3M
Operating Income 202.9M 128.1M 37.7M 40.6M 80.0M
Pre-tax Income 116.0M 75.0M -38.1M -66.7M 4.1M
Income Tax 19.3M 19.3M -12.0M -22.5M -4.7M
Net Income 96.7M 55.7M -26.1M -44.3M 8.8M
EPS (Diluted) $1.09 $0.64 -$0.31 -$0.53 $0.12

Income Statement Trend

HealthEquity Balance Sheet From 2021 to 2025

Metric 2025 2024 2023 2022 2021
Assets
Current Assets 477.7M 557.4M 382.9M 351.3M 460.2M
Non-Current Assets 3.0B 2.6B 2.7B 2.8B 2.3B
Total Assets 3.4B 3.2B 3.1B 3.1B 2.7B
Liabilities
Current Liabilities 156.3M 117.1M 131.1M 153.2M 204.7M
Non-Current Liabilities 1.2B 1.0B 1.1B 1.1B 1.1B
Total Liabilities 1.3B 1.1B 1.2B 1.3B 1.3B
Equity
Total Shareholders Equity 2.1B 2.0B 1.9B 1.9B 1.4B

Balance Sheet Composition

HealthEquity Cash Flow Statement From 2021 to 2025

Metric 2025 2024 2023 2022 2021
Operating Activities
Net Income 96.7M 55.7M -26.1M -44.3M 8.8M
Operating Cash Flow 338.3M 241.7M 150.6M 127.4M 151.2M
Investing Activities
Capital Expenditures -2.1M -1.7M -3.4M -8.9M -13.1M
Investing Cash Flow -2.1M -1.7M -3.4M -511.1M -13.1M
Financing Activities
Dividends Paid - - - - -
Financing Cash Flow 48.1M -53.5M -9.4M 385.1M 43.9M
Free Cash Flow -165.6M 196.8M 31.5M 3.9M 84.7M

Cash Flow Trend

HealthEquity Key Financial Ratios

Valuation Ratios

P/E Ratio (TTM) 73.94
Forward P/E 27.45
Price to Book 4.14
Price to Sales 7.05
PEG Ratio 27.45

Profitability Ratios

Profit Margin 9.80%
Operating Margin 25.50%
Return on Equity 5.77%
Return on Assets 4.57%

Financial Health

Current Ratio 4.06
Debt to Equity 52.11
Beta 0.49

Per Share Data

EPS (TTM) $1.37
Book Value per Share $24.49
Revenue per Share $14.30

Peer Financial Comparison

Company Market Cap P/E Ratio P/B Ratio ROE Profit Margin Debt/Equity
hqy 8.8B 73.94 4.14 5.77% 9.80% 52.11
Veeva Systems 46.0B 59.92 7.39 14.06% 27.34% 1.24
Ge Healthcare 32.6B 14.95 3.55 26.44% 11.03% 97.52
Waystar Holding 7.0B 334.75 2.22 1.01% 2.67% 40.28
BrightSpring Health 3.9B 82.48 2.31 2.74% 0.48% 160.76
Privia Health 2.7B 183.92 4.06 3.01% 0.87% 0.77

Financial data is updated regularly. All figures are in the company's reporting currency.