HealthEquity

HQY

Medical - Healthcare Information Services · Healthcare

Price

$97.67

-1.02 (-1.03%)

Market Cap

$8.17B

Exchange

NASDAQ

Winston Score

Winston is curious

A decent business — some strong pillars, some weaker.

Share count rising — dilution

+5.2% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 83.1M (2022) → 87.5M (2026)

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.

Unlock the full Smart Money Map — every trade plotted on the price chart with politicians, amounts and returns since each trade. Founder's Deal is $57/mo locked for life.

Unlock politician trades

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

R&D Spend

$263M/ year

↑ Rising (+10% vs prior year)

20.0% of revenue

In line with sector average (18%)

Investing heavily in future products and technology

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

Heavy R&D investment

HealthEquity is putting 20% of revenue into R&D and that number is rising. And they're generating enough cash to self-fund it.

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.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

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.

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

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

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

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.

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

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.

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Valuation

P/E Ratio (TTM)

44.8x

Pricey — P/E 44.8

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

P/E vs Forward

+26.8

GROWING

Earnings expected to grow meaningfully — cheaper on forward P/E (44.8 → 18.0)

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Dividends

Not applicable for this business.

🔒 See full fundamentals and if they are improving or declining — click here for your free trial now.

Start free trial