HealthEquity (HQY) Stock Analysis & Winston Score

HealthEquity, Inc. provides technology-enabled services platforms to consumers and employers in the United States. The company offers cloud-based platforms for individuals to make health saving and spending decisions, pay healthcare bills, compare treatment options and prices, receive personalized benefit and clinical information, earn wellness incentives, grow their savings, and make investment choices; and health savings accounts. It also provides mutual fund investment platform; and online-on

Winston Score History

Politician Trades

2 trades / 12mo

2 Congressional buys and 0 sells on HQY in the last 12 months.

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Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+7.3% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

+96.7% YoY

YoY Growth Rate

Strong earnings growth

Insider Activity

2.0%ownership

↑ Rising

Insiders increasing their stake — aligned with shareholders

Cash Position

Cash flow positive

$319M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Growth context

HealthEquity is growing revenue at 7% year-over-year. The Winston Score measures business quality today — these growth metrics show what could matter tomorrow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Gross Margin

92.4%

Premium pricing power — 92.4% gross margin

Operating Margin

20.1%

Excellent — 20.1% operating margin

ROCE

2.2%

Weak — 2.2% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales YoY

+8.4%

Steady sales growth (8.4% YoY)

EPS YoY

+55.1%

Earnings growing fast (55.1% YoY)

Earnings growing 25%+ a year. The compounder zone.

EPS Consistency

4/8 quarters

Earnings inconsistent quarter-to-quarter

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Cash Flow

Cash Conversion

249%

Turns 249% of profit into real cash

FCF Margin

32.6%

Converts sales into free cash efficiently (32.6%)

Free cash flow margin above 20%. Out of every $100 in sales, more than $20 is real cash they keep.

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Stability

Debt / Equity

0.46

Conservative — low debt load (0.46)

Interest Cover

5.38x

Adequate interest coverage (5.4x)

Interest coverage between 3 and 8. Profits cover interest several times over.

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Valuation

P/E Ratio (TTM)

45.4x

no trend

Expensive — P/E 45.4

P/E over 35. The market is pricing in heavy, sustained growth.

P/E vs Forward

+27.4

GROWING

Earnings expected to grow meaningfully — cheaper on forward P/E (45.4 → 18.0)

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Dividends

Not applicable for this business.

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