HEALTHEQUITY INC (HQY)
Health Care · Healthcare benefits administration and tax-advantaged savings account services · NASDAQ
HealthEquity is the largest HSA administrator by account count, managing $36.5 billion in consumer healthcare savings through technology-enabled services integrated with the broader health and benefits ecosystem.
What HEALTHEQUITY INC does
HealthEquity is a technology-enabled administrator of Health Savings Accounts (HSAs) and other consumer-directed benefits (CDBs) like FSAs and HRAs for employers and their employees. As of January 2026, the company administered 10.6 million HSAs with $36.5 billion in assets and 7.2 million complementary CDBs. HealthEquity earns revenue primarily through service fees, custodial fees from deposited cash, and interchange fees from member payment cards.
Themes: ["Healthcare benefits administration","Tax-advantaged health savings","Consumer-directed healthcare","Health savings account management","Benefits platform / ecosystem"]
Fundamentals
- Price$94.81 as of 2026-07-09 close
- Market cap$7.9B as of 2026-07-10
- 1-year return-5.2% as of 2026-07-09 close
- P/E34.33 as of 2026-07-10
- Net margin+17.3% as of 2026-07-10
- Gross margin+70.7% as of 2026-07-10
- ROE+10.9% as of 2026-07-10
- Debt / equity0.46 as of 2026-07-10
- Revenue growth (YoY)+7.6% as of 2026-07-10
- Revenue CAGR (3y)+15.1% SEC XBRL
- Beta0.24 as of 2026-07-10
Key risks (from latest filing)
["Regulatory changes to HSA and CDB tax benefits could reduce consumer contributions and account growth","Competitive pressure from other HSA administrators and financial services providers entering the market","Dependence on employer adoption and retention of HSA/CDB benefits, which are subject to economic cycles and healthcare policy changes"]
Competitors & peers
- Fidelity Investments
- Mercer (Marsh & McLennan Companies)
- Conduent Business Services
- WageWorks (acquired by Discovery Inc.)
- Benefitfocus (BNFT)
Fundamentals: Finnhub, as of 2026-07-10. Filings: SEC EDGAR. Prices are delayed daily-close data.
Last updated 2026-07-09.
Informational only — NOT financial advice. All figures are delayed daily-close data from SEC EDGAR & Finnhub, shown with their as-of date.