Healthequity (HQY) Debt Ratio (2019 - 2026)

Healthequity's (HQY) quarterly Debt Ratio came in at 0.29 in Q2 2026, down 7.81% year-on-year from 0.31 in Q2 2025, and up 0.67% quarter-over-quarter from 0.28 in Q1 2026.

Healthequity (HQY) Debt Ratio (2019 - 2026) Analysis & Trends

Healthequity's Debt Ratio history runs 8 years deep, the most recent figure standing at 0.29 for Q2 2026.

  • On a quarterly basis, Debt Ratio fell 7.81% year-over-year to 0.29 in Q2 2026; TTM through Apr 2026 was 0.29, a 7.81% decrease from a year earlier, with the FY2026 full-year figure at 0.28, down 7.54% from the prior year.
  • Debt Ratio climbed to 0.29 in Q2 2026 per HQY's latest filing, from 0.28 in the prior quarter.
  • Across five years, Debt Ratio topped out at 0.31 in Q3 2024 and bottomed at 0.28 in Q1 2024.
  • The 5-year median for Debt Ratio is 0.3 (2022), against an average of 0.3.
  • Across the five-year window, Debt Ratio decreased 17.71% in 2022 and increased 10.76% in 2025, its largest moves.
  • Year by year, Debt Ratio stood at 0.31 in 2022, then declined by 8.06% to 0.28 in 2023, then increased by 9.65% to 0.31 in 2024, then retreated by 6.74% to 0.29 in 2025, then slipped by 1.35% to 0.29 in 2026.
  • Per Business Quant, the three latest HQY Debt Ratio figures stand at 0.29 (Q2 2026), 0.28 (Q1 2026), and 0.29 (Q4 2025).

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Debt Ratio (Qtr)
1 Veeva Systems 29.34 Bn 22.03 Bn 662.02 Mn -
2 BrightSpring Health Services 13.49 Bn 12.59 Bn 482.22 Mn 0.40
3 Healthequity 7.96 Bn 7.70 Bn 256.31 Mn 0.29
4 10x Genomics 6.17 Bn 5.63 Bn 106.18 Mn -
5 Hinge Health 6.02 Bn 5.70 Bn 154.23 Mn -
6 MiniMed 4.19 Bn 3.89 Bn 480.00 Mn -
7 Waystar Holding 4.14 Bn 4.07 Bn 216.84 Mn 0.25
8 Doximity 3.82 Bn 3.08 Bn 125.97 Mn -
9 Privia Health 3.10 Bn 2.73 Bn - -
10 Omnicell 1.81 Bn 1.57 Bn 140.36 Mn -

Historic Data

Download Data
DateValue
Apr 30, 2026 0.29
Jan 31, 2026 0.28
Oct 31, 2025 0.29
Jul 31, 2025 0.29
Apr 30, 2025 0.31
Jan 31, 2025 0.31
Oct 31, 2024 0.31
Jul 31, 2024 0.31
Apr 30, 2024 0.29
Jan 31, 2024 0.28
Oct 31, 2023 0.28
Jul 31, 2023 0.28
Apr 30, 2023 0.29
Jan 31, 2023 0.31
Oct 31, 2022 0.31
Jul 31, 2022 0.31
Apr 30, 2022 0.31
Jan 31, 2022 0.30
Oct 31, 2021 0.30
Jul 31, 2021 0.31