HealthEquity, Inc.

NasdaqGS:HQY Stock Report

Market Cap: US$8.4b

HealthEquity Future Growth

Future criteria checks 2/6

HealthEquity is forecast to grow earnings and revenue by 18.2% and 7.7% per annum respectively. EPS is expected to grow by 20.3% per annum. Return on equity is forecast to be 17.6% in 3 years.

Key information

18.2%

Earnings growth rate

20.26%

EPS growth rate

Healthcare earnings growth19.8%
Revenue growth rate7.7%
Future return on equity17.63%
Analyst coverage

Good

Last updated04 Dec 2025

Recent future growth updates

Recent updates

HealthEquity: Flywheel Keeps Spinning

Dec 02

These 4 Measures Indicate That HealthEquity (NASDAQ:HQY) Is Using Debt Reasonably Well

Aug 06
These 4 Measures Indicate That HealthEquity (NASDAQ:HQY) Is Using Debt Reasonably Well

Returns At HealthEquity (NASDAQ:HQY) Are On The Way Up

Jul 10
Returns At HealthEquity (NASDAQ:HQY) Are On The Way Up

Here's Why We Think HealthEquity (NASDAQ:HQY) Is Well Worth Watching

Jun 25
Here's Why We Think HealthEquity (NASDAQ:HQY) Is Well Worth Watching

HealthEquity, Inc.'s (NASDAQ:HQY) Share Price Matching Investor Opinion

May 19
HealthEquity, Inc.'s (NASDAQ:HQY) Share Price Matching Investor Opinion

Is HealthEquity (NASDAQ:HQY) A Risky Investment?

Apr 04
Is HealthEquity (NASDAQ:HQY) A Risky Investment?

Returns Are Gaining Momentum At HealthEquity (NASDAQ:HQY)

Mar 18
Returns Are Gaining Momentum At HealthEquity (NASDAQ:HQY)

HealthEquity: Robust Growth, But No Margin Of Safety

Mar 17

With EPS Growth And More, HealthEquity (NASDAQ:HQY) Makes An Interesting Case

Mar 04
With EPS Growth And More, HealthEquity (NASDAQ:HQY) Makes An Interesting Case

HealthEquity, Inc.'s (NASDAQ:HQY) Intrinsic Value Is Potentially 58% Above Its Share Price

Feb 19
HealthEquity, Inc.'s (NASDAQ:HQY) Intrinsic Value Is Potentially 58% Above Its Share Price

Shareholders Should Be Pleased With HealthEquity, Inc.'s (NASDAQ:HQY) Price

Feb 05
Shareholders Should Be Pleased With HealthEquity, Inc.'s (NASDAQ:HQY) Price

HealthEquity: High Marks For Recent Profit Growth

Nov 20
User avatar

Expanding HSA Market Dominance Fuels Revenue And Innovates Healthcare Financial Services

HealthEquity's expansion in the HSA market and strategic acquisitions, including BenefitWallet, aim to grow its customer base and custodial revenue.

HealthEquity: Compelling Catalysts, Fairly Valued, Reiterate Buy

Aug 27

HealthEquity: A Trading Vehicle Performing As Expected, Strong Growth Hard To Ignore

Jun 04

HealthEquity: Strong Growth And Healthy Cash Flows Changed My Mind

May 29

HealthEquity: Multiple Compression Has Finally Made It A Buy

Mar 21

Earnings and Revenue Growth Forecasts

NasdaqGS:HQY - Analysts future estimates and past financials data (USD Millions)
DateRevenueEarningsFree Cash FlowCash from OpAvg. No. Analysts
1/31/20281,5322975135538
1/31/20271,41423544848814
1/31/20261,31120440945615
10/31/20251,291192363415N/A
7/31/20251,269146313367N/A
4/30/20251,24312288339N/A
1/31/20251,20097-166340N/A
10/31/20241,15097-162341N/A
7/31/20241,099106-198308N/A
4/30/20241,04380-30277N/A
1/31/20241,00056197243N/A
10/31/202397129176221N/A
7/31/202393813169212N/A
4/30/2023901-8121175N/A
1/31/2023862-2632151N/A
10/31/2022831-5921146N/A
7/31/2022795-62-71120N/A
4/30/2022778-55-76117N/A
1/31/2022757-444141N/A
10/31/2021741-610151N/A
7/31/2021741199181N/A
4/30/20217284108198N/A
1/31/2021734985182N/A
10/31/2020747364152N/A
7/31/2020724-2034117N/A
4/30/202063503595N/A
1/31/20205324063105N/A
10/31/20194075372107N/A
7/31/201932090N/A118N/A
4/30/201930493N/A116N/A
1/31/201928774N/A113N/A
10/31/201827267N/A101N/A
7/31/201825861N/A95N/A
4/30/201824456N/A89N/A
1/31/201823047N/A82N/A
10/31/201721646N/A76N/A
7/31/201720241N/A70N/A
4/30/201719032N/A59N/A
1/31/201717826N/A46N/A
10/31/201616725N/A39N/A
7/31/201615524N/A35N/A
4/30/201614120N/A27N/A
1/31/201612717N/A27N/A
10/31/201511615N/A23N/A
7/31/201510714N/A17N/A
4/30/20159713N/A15N/A
1/31/20158812N/A15N/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: HQY's forecast earnings growth (18.2% per year) is above the savings rate (3.3%).

Earnings vs Market: HQY's earnings (18.2% per year) are forecast to grow faster than the US market (16.1% per year).

High Growth Earnings: HQY's earnings are forecast to grow, but not significantly.

Revenue vs Market: HQY's revenue (7.7% per year) is forecast to grow slower than the US market (10.6% per year).

High Growth Revenue: HQY's revenue (7.7% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: HQY's Return on Equity is forecast to be low in 3 years time (17.6%).

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/12/04 03:05
End of Day Share Price 2025/12/04 00:00
Earnings2025/10/31
Annual Earnings2025/01/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

HealthEquity, Inc. is covered by 25 analysts. 15 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Mark MarconBaird
Alexander ParisBarrington Research Associates, Inc.
Sean DodgeBMO Capital Markets Equity Research