HealthEquity
Financial ratios & Valuation

Forward Multiples (2026 – 2027)

20262027
Price/Earnings ratio
49.2628.55
Price/Sales ratio
6.015.39
Earnings per Share (EPS)
$1.94$3.35

Historical Multiples (2015 – 2024)

2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 TTM Median
Valuation Ratios
Price/Earnings ratio
63.7072.61102.7864.4552.16111.63704.61-100.30-196.54116.07-188.24111.63
Price/Sales ratio
7.379.5115.1913.2913.428.328.485.875.966.465.718.32
Price/Book Value ratio
4.495.9210.348.818.084.294.512.392.713.172.594.29
Price/Cash Flow ratio
43.0445.4559.4637.3633.9841.8234.2731.5034.1026.6332.6641.82
Price/Free Cash Flow ratio
93.66-51.9582.3563.1739.1869.4173.521.13K163.0032.8648.1939.18
Price/Earnings Growth ratio
-0.48-2.831.860.851.00-2.19-8.840.184.73-0.37-169.25-2.19
Dividend Yield
7.77%N/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/A
Profitability Indicator Ratios
Gross Profit Margin
54.60%57.26%59.62%58.78%63.08%61.26%56.61%56.00%56.87%62.28%56.87%61.26%
Operating Profit Margin
19.20%20.61%23.10%23.70%27.03%14.47%11.35%4.57%4.51%12.81%1.05%14.47%
Pretax Profit Margin
17.94%20.15%22.49%22.73%26.39%8.11%0.56%-8.82%-4.42%7.50%-4.42%8.11%
Net Profit Margin
11.57%13.10%14.78%20.63%25.72%7.45%1.20%-5.85%-3.03%5.57%-3.03%7.45%
Effective Tax Rate
35.51%34.98%34.25%9.24%2.53%8.08%-113.38%33.64%31.37%25.75%31.37%2.53%
Return on Assets
6.40%7.55%9.44%12.82%14.48%1.54%0.32%-1.42%-0.84%1.76%-0.84%1.54%
Return On Equity
7.05%8.16%10.06%13.67%15.48%3.84%0.64%-2.39%-1.37%2.73%-1.39%3.84%
Return on Capital Employed
11.25%12.58%15.64%15.60%16.14%3.19%3.32%1.17%1.31%4.20%0.30%3.19%
Liquidity Ratios
Current Ratio
14.1211.8112.7812.9513.581.952.24N/AN/AN/A2.921.95
Quick Ratio
14.0511.7612.7512.9413.581.942.252.292.924.762.672.67
Cash ratio
12.566.908.919.7312.441.261.601.471.943.451.941.94
Days of Sales Outstanding
37.6141.1934.7834.3532.6148.6136.2042.1741.0138.3041.0132.61
Days of Inventory outstanding
5.714.173.000.820.00N/AN/AN/A0.00N/AN/AN/A
Operating Cycle
43.3345.3637.7835.1832.6148.6136.2042.1741.0138.3010.1148.61
Days of Payables Outstanding
11.9216.3716.329.3312.117.041.8530.2013.6511.6513.6512.11
Cash Conversion Cycle
31.4128.9921.4625.8420.5041.5634.3511.9727.3626.6427.3620.50
Debt Ratios
Debt Ratio
N/AN/AN/AN/AN/A0.500.390.320.320.270.380.50
Debt Equity Ratio
N/AN/AN/AN/AN/A1.260.770.540.520.430.621.26
Long-term Debt to Capitalization
N/AN/AN/AN/AN/A0.540.420.340.330.300.330.54
Total Debt to Capitalization
N/AN/AN/AN/AN/A0.550.430.350.340.300.340.55
Interest Coverage Ratio
N/AN/AN/AN/AN/A4.402.29N/AN/AN/A0.18N/A
Cash Flow to Debt Ratio
N/AN/AN/AN/AN/A0.080.160.130.150.270.150.15
Company Equity Multiplier
1.101.081.061.061.062.481.961.671.621.551.621.06
Cash Flow Ratios
Operating Cash Flow / Sales Ratio
0.170.200.250.350.390.190.240.180.170.240.170.19
Free Cash Flow / Operating Cash Flow Ratio
0.45-0.870.720.590.860.600.460.020.200.810.670.67
Cash Flow Coverage Ratio
N/AN/AN/AN/AN/A0.080.160.130.150.270.150.15
Short Term Coverage Ratio
N/AN/AN/AN/AN/A2.052.376.735.4425.825.442.05
Dividend Payout Ratio
495.24%N/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/A