{ "ok": true, "cik": "1428336", "ticker": "HQY", "name": "HEALTHEQUITY, INC.", "filings": [ { "form": "10-Q", "filed": "2026-08-27", "items": [], "url": "https://www.sec.gov/Archives/edgar/data/1428336/000142833626000041/0001428336-26-000041-index.htm" }, { "form": "8-K", "filed": "2026-08-27", "items": [ "2.02 Results of Operations and Financial Condition", "9.01 Financial Statements and Exhibits" ], "url": "https://www.sec.gov/Archives/edgar/data/1428336/000142833626000040/0001428336-26-000040-index.htm" }, { "form": "8-K", "filed": "2026-06-26", "items": [ "5.07 Submission of Matters to a Vote of Security Holders", "9.01 Financial Statements and Exhibits" ], "url": "https://www.sec.gov/Archives/edgar/data/1428336/000142833626000034/0001428336-26-000034-index.htm" }, { "form": "10-Q", "filed": "2026-05-28", "items": [], "url": "https://www.sec.gov/Archives/edgar/data/1428336/000142833626000028/0001428336-26-000028-index.htm" }, { "form": "8-K", "filed": "2026-05-28", "items": [ "2.02 Results of Operations and Financial Condition", "9.01 Financial Statements and Exhibits" ], "url": "https://www.sec.gov/Archives/edgar/data/1428336/000142833626000027/0001428336-26-000027-index.htm" }, { "form": "DEF 14A", "filed": "2026-05-13", "items": [], "url": "https://www.sec.gov/Archives/edgar/data/1428336/000142833626000022/0001428336-26-000022-index.htm" } ], "events12m": 10, "healthWatch": { "window": "last 12 months", "since": "2025-09-26", "signals": [ { "code": "5.02", "label": "Director or officer change", "count": 3, "latest": { "filed": "2026-05-08", "url": "https://www.sec.gov/Archives/edgar/data/1428336/000142833626000016/0001428336-26-000016-index.htm" } } ], "note": "Events the company itself filed with the SEC, most serious first. Shown beside the figures; they do not change the range or its receipt." }, "sources": { "facts": "https://data.sec.gov/api/xbrl/companyfacts/CIK0001428336.json", "filings": "https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1428336" }, "license": "Figures as filed with the SEC. Card text CC BY 4.0, POPS4.", "notAdvice": "Reporting, not investment advice. No price targets and no trading recommendations.", "edgar": "🫧 Edgar looked up HEALTHEQUITY, INC. ($HQY). Last filing: 10-Q, 2026-08-27. 10 event filings (8-K) in the past twelve months.", "auditor": { "changes": [], "nonReliance": [], "restatedSince": null }, "metrics": { "fiscalYearEnd": "2026-01-31", "revenue": 1313429000, "revenueGrowth1y": 0.09473034088086596, "revenueGrowthPerYear": 0.14786649720482892, "yearsOfData": 5, "operatingMargin": 0.24550698971927679, "operatingMarginPrior": 0.13530381555192894, "netMargin": 0.16384669441591437, "operatingCashFlow": 457094000, "capitalSpending": 1969000, "freeCashFlow": 455125000, "researchAndDevelopment": 262510000, "researchShareOfRevenue": 0.19986615188182993, "cash": 318927000, "longTermDebt": 957379000, "longTermDebtChange": -0.09364944272513231, "revenueHistory": [ { "fiscalYearEnd": "2022-01-31", "revenue": 756556000 }, { "fiscalYearEnd": "2023-01-31", "revenue": 861748000 }, { "fiscalYearEnd": "2024-01-31", "revenue": 999587000 }, { "fiscalYearEnd": "2025-01-31", "revenue": 1199774000 }, { "fiscalYearEnd": "2026-01-31", "revenue": 1313429000 } ], "totalEquity": 2107196000, "totalAssets": 3380332000, "equityRatio": 0.6233695388500301, "returnOnEquity": 0.10212671246528562, "dividendsPaid": null, "payoutRatio": null, "dividendPerShare": null, "dividendYearsRising": null, "dividendCut": null, "priceBased": "Dividend yield, price/earnings and price/book need a share price. The boards carry filings only, so they are not shown.", "earningsPerShare": 2.5, "sharesOutstanding": 87473000, "bookValuePerShare": 24.089673384930208, "revenuePerShare": 15.01525042012964, "range80": { "low": 1301040122.9190552, "high": 1595691472.9817417, "baseline": 1474687855.9801679, "n": 4599, "band": "b1", "bandLabel": "$1B–10B", "method": "v4.1", "credibility": 0.5714285714285714, "growthYears": 5, "ownVolatility": 0.05825936989741824, "classVolatility": 0.07701947805587882, "volatility": 0.06694626493729004 }, "ifPaceHeld": { "low": 1301040122.9190552, "high": 1595691472.9817417 } }, "edgarette": "🔖 Exposure: revenue $1.3B (FY2026), total debt $957.4M. Experience: revenue up 9.5% on the year, up 14.8% a year over 4 years; operating margin 24.6%, up from 13.5%. Soundness: equity 62.3% of assets, return on equity 10.2%. Credibility: four or more audited years, reasonable weight. Range: 80% of past cases like this landed between $1.3B and $1.6B next year (method v4.1: its own 5-year record of growth weighed at 57% against $1B–10B filers; on a year the method never saw, 83.4% landed inside). In a shock year the stress range is $1.2B to $1.7B. A statistical range, not company guidance. Against peers (70 filers, $50M+ revenue, services-business services, nec): operating margin 24.6% against a 7.9% median; growth 9.5% against 10.2%.", "peers": { "sic": 7389, "sicDescription": "Services-Business Services, NEC", "calendarYear": 2025, "minRevenue": 50000000, "depth": 4, "group": "7389", "growth": [ 0.1016, 72 ], "opMargin": [ 0.0788, 70 ], "equityRatio": [ 0.3958, 67 ], "returnOnEquity": [ 0.0932, 57 ], "payoutRatio": [ 0.2935, 14 ] }, "summary": "Healthequity (HQY) grew revenue 9.5% in FY2026 to $1.3 billion, operating margin 24.6% against a 7.9% median for services-business services, nec, equity 62.3% of assets. Every figure is from the company’s own annual report filed with the SEC.", "chart": "
HEALTHEQUITY, INC. against its own record and its peers
Operating marginPeer median 7.9%24.6%Revenue, on the yearPeer median 10.2%9.5%Equity of assetsPeer median 39.6%62.3%Return on equityPeer median 9.3%10.2%Gold tick: the median of 57–67 peers with $50M+ revenue in services-business services, nec
", "chartHorizon": null, "backtest": { "tests": 10, "hits": 7, "rate": 0.7, "method": "v4", "byYear": { "2017": [ 1, 1 ], "2018": [ 1, 1 ], "2019": [ 1, 1 ], "2020": [ 0, 1 ], "2021": [ 0, 1 ], "2022": [ 0, 1 ], "2023": [ 1, 1 ], "2024": [ 1, 1 ], "2025": [ 1, 1 ], "2026": [ 1, 1 ] }, "note": "hindsight: the same credibility-weighted range on the company's own past years. Years 2018-2023 were used to fit or tune the method, so only 2025 outcomes are fully out of sample." }, "registry": { "logged": "2026-09-26T15:57:12.027Z", "hash": "eb66de481f97c219", "status": "open" }, "caution": "Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.", "schema": "pops4.edgarette.card/1", "card": { "summary": "Healthequity (HQY) grew revenue 9.5% in FY2026 to $1.3 billion, operating margin 24.6% against a 7.9% median for services-business services, nec, equity 62.3% of assets. Every figure is from the company’s own annual report filed with the SEC.", "exposure": { "fiscalYearEnd": "2026-01-31", "revenue": 1313429000, "totalDebt": 957379000, "cash": 318927000 }, "experience": { "revenueGrowth1y": 0.09473034088086596, "revenueGrowthPerYear": 0.14786649720482892, "operatingMargin": 0.24550698971927679, "operatingMarginPrior": 0.13530381555192894, "netMargin": 0.16384669441591437, "freeCashFlow": 455125000 }, "soundness": { "equityRatio": 0.6233695388500301, "returnOnEquity": 0.10212671246528562, "payoutRatio": null, "dividendPerShare": null, "dividendYearsRising": null, "dividendCut": null, "note": "Dividend yield, price/earnings and price/book need a share price. The boards carry filings only, so they are not shown." }, "peers": { "sic": 7389, "sicDescription": "Services-Business Services, NEC", "calendarYear": 2025, "minRevenue": 50000000, "depth": 4, "group": "7389", "growth": [ 0.1016, 72 ], "opMargin": [ 0.0788, 70 ], "equityRatio": [ 0.3958, 67 ], "returnOnEquity": [ 0.0932, 57 ], "payoutRatio": [ 0.2935, 14 ] }, "credibility": { "auditedYears": 5, "weight": "reasonable", "standard": "ASOP No. 25", "nonReliance": null, "auditorChange": null }, "healthWatch": { "window": "last 12 months", "since": "2025-09-26", "signals": [ { "code": "5.02", "label": "Director or officer change", "count": 3, "latest": { "filed": "2026-05-08", "url": "https://www.sec.gov/Archives/edgar/data/1428336/000142833626000016/0001428336-26-000016-index.htm" } } ], "note": "Events the company itself filed with the SEC, most serious first. Shown beside the figures; they do not change the range or its receipt." }, "range": { "low": 1301040122.9190552, "high": 1595691472.9817417, "baseline": 1474687855.9801679, "coverage": 0.8, "method": "v4.1", "basis": "next fiscal year revenue: baseline = revenue x (1 + mean of one-year and three-year pace); width = the company's own volatility of yearly growth, credibility-weighted against its size class (Buhlmann), scaled to the 80% target on 2023 and tested on 2024", "calibratedOn": { "companyYears": 4599, "sizeBand": "$1B–10B", "fitYears": [ 2018, 2022 ], "tuneYear": 2023, "testYear": 2024, "coverageOnTestYear": 0.8341 }, "credibility": { "weightOnOwnRecord": 0.571, "growthYears": 5, "ownVolatility": 0.05825936989741824, "classVolatility": 0.07701947805587882, "pricedVolatility": 0.06694626493729004, "k": 3 }, "stress": { "low": 1207569036.0362995, "high": 1719328698.702804, "basis": "the same range with widths set to hold 80% across 2018-2023, pandemic years included" }, "kind": "a statistical range, not company guidance; no view on the share price", "track": { "backtest": { "tests": 10, "hits": 7, "rate": 0.7, "method": "v4", "byYear": { "2017": [ 1, 1 ], "2018": [ 1, 1 ], "2019": [ 1, 1 ], "2020": [ 0, 1 ], "2021": [ 0, 1 ], "2022": [ 0, 1 ], "2023": [ 1, 1 ], "2024": [ 1, 1 ], "2025": [ 1, 1 ], "2026": [ 1, 1 ] }, "note": "hindsight: the same credibility-weighted range on the company's own past years. Years 2018-2023 were used to fit or tune the method, so only 2025 outcomes are fully out of sample." }, "registry": { "logged": "2026-09-26T15:57:12.027Z", "hash": "eb66de481f97c219", "status": "open" }, "scorecard": "https://www.pops4.com/boards/scorecard" } }, "caution": "Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.", "sources": { "facts": "https://data.sec.gov/api/xbrl/companyfacts/CIK0001428336.json", "filings": "https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1428336" }, "speedCash": { "fiscalYear": 2025, "cashConversion": 0.348, "growth3y": 0.1508, "volatility": 0.0383, "paysDividend": false, "raisedDividend": false, "equityRatio": 0.6234, "quadrant": { "code": "fs", "label": "Fast and steady", "plain": "growing faster than its size class, with steadier revenue" }, "compass": { "code": "later", "inside": "Turns 34.8% of revenue into operating cash; revenue growing 15.1% a year over three years; no common dividend.", "outside": "Among $1B-10B companies: 87th percentile for cash, 81st for growth.", "emoji": "🌱", "label": "Cash cow later", "plain": "growing fast, and already turning revenue into cash" }, "band": "$1B-10B", "cashPctInClass": 87, "growthPctInClass": 81, "source": "SEC XBRL frames, the company’s own audited figures; quadrant split at the median of its size class" }, "harbor": { "signs": [], "rule": "Boat condition = number of warning signs: a serious warning filing in 12 months; liabilities over assets; slow and jumpy; negative operating cash; an 80% revenue range of ±25% or wider.", "level": 0, "name": "New ship", "plain": "no warning signs" }, "cashFlow": { "fiscalYearEnd": "2026-01-31", "operating": 457094000, "investing": -47140000, "financing": -386975000, "capitalSpending": 1969000, "free": 455125000, "trend": [ { "fiscalYearEnd": "2022-01-31", "operating": 140995000, "free": 132087000 }, { "fiscalYearEnd": "2023-01-31", "operating": 150650000, "free": 147279000 }, { "fiscalYearEnd": "2024-01-31", "operating": 242826000, "free": 241132000 }, { "fiscalYearEnd": "2025-01-31", "operating": 339856000, "free": 337772000 }, { "fiscalYearEnd": "2026-01-31", "operating": 457094000, "free": 455125000 } ], "note": "Annual, as filed in 10-K cash flow statements; negative investing/financing = cash going out (capital spending, buybacks, dividends, debt repaid)." }, "investments": { "fiscalYearEnd": "2026-01-31", "cash": 318927000, "shortTerm": null, "longTerm": null, "equityHoldings": null, "totalAssets": 3380332000, "ladder": null, "note": "Balance-sheet cash and investment securities at fiscal year end, as filed; short-term = due or saleable within a year. Insurers and banks hold most of their book here." } }, "definitions": { "operatingMargin": "Operating income divided by revenue.", "netMargin": "Net income divided by revenue.", "freeCashFlow": "Cash from operations minus spending on property and equipment.", "researchShareOfRevenue": "Research and development expense for the year as a share of revenue, both as filed.", "equityRatio": "Shareholders equity as a share of total assets, both as filed. Higher means less of the company is owed to someone else.", "returnOnEquity": "Net income for the year against shareholders equity at year end.", "payoutRatio": "Dividends paid as a share of net income, in the year the cash went out.", "dividendYearsRising": "Consecutive years, counted back from the last on record, in which dividend per share rose. A fall ends the run and is reported as dividendCut.", "revenueGrowthPerYear": "Compound annual growth between the first and latest fiscal years shown.", "credibility": "How much weight a record deserves, in the actuarial sense (ASOP No. 25): more audited years, more weight.", "peers": "Medians of SEC filers with $50M+ revenue in the same industry code (SIC), narrowest group with at least 8 filers, calendar-year figures from SEC XBRL frames.", "backtest": "The same range method applied to the company's own past years, scored against what it actually reported next. Hindsight, and labelled so.", "healthWatch": "Distress-type events the company filed in the last 12 months (late-filing notices; 8-K items 1.03, 3.01, 2.04, 4.02, 4.01, 2.05, 2.06, 1.05, 5.02), each with its count and newest filing. Display only: they do not change the range or its receipt." }, "speedCash": { "fiscalYear": 2025, "cashConversion": 0.348, "growth3y": 0.1508, "volatility": 0.0383, "paysDividend": false, "raisedDividend": false, "equityRatio": 0.6234, "quadrant": { "code": "fs", "label": "Fast and steady", "plain": "growing faster than its size class, with steadier revenue" }, "compass": { "code": "later", "inside": "Turns 34.8% of revenue into operating cash; revenue growing 15.1% a year over three years; no common dividend.", "outside": "Among $1B-10B companies: 87th percentile for cash, 81st for growth.", "emoji": "🌱", "label": "Cash cow later", "plain": "growing fast, and already turning revenue into cash" }, "band": "$1B-10B", "cashPctInClass": 87, "growthPctInClass": 81, "source": "SEC XBRL frames, the company’s own audited figures; quadrant split at the median of its size class" }, "harbor": { "signs": [], "rule": "Boat condition = number of warning signs: a serious warning filing in 12 months; liabilities over assets; slow and jumpy; negative operating cash; an 80% revenue range of ±25% or wider.", "level": 0, "name": "New ship", "plain": "no warning signs" }, "cashFlow": { "fiscalYearEnd": "2026-01-31", "operating": 457094000, "investing": -47140000, "financing": -386975000, "capitalSpending": 1969000, "free": 455125000, "trend": [ { "fiscalYearEnd": "2022-01-31", "operating": 140995000, "free": 132087000 }, { "fiscalYearEnd": "2023-01-31", "operating": 150650000, "free": 147279000 }, { "fiscalYearEnd": "2024-01-31", "operating": 242826000, "free": 241132000 }, { "fiscalYearEnd": "2025-01-31", "operating": 339856000, "free": 337772000 }, { "fiscalYearEnd": "2026-01-31", "operating": 457094000, "free": 455125000 } ], "note": "Annual, as filed in 10-K cash flow statements; negative investing/financing = cash going out (capital spending, buybacks, dividends, debt repaid)." }, "investments": { "fiscalYearEnd": "2026-01-31", "cash": 318927000, "shortTerm": null, "longTerm": null, "equityHoldings": null, "totalAssets": 3380332000, "ladder": null, "note": "Balance-sheet cash and investment securities at fiscal year end, as filed; short-term = due or saleable within a year. Insurers and banks hold most of their book here." } }