Healthequity (HQY) FCF Margin (2013 - 2026)
Healthequity's (HQY) quarterly FCF Margin came in at 23.01% in Q2 2026, up 829.0% year-on-year from 2.48% in Q2 2025, and down 50.23% quarter-over-quarter from 46.23% in Q1 2026.
Healthequity (HQY) FCF Margin (2013 - 2026) Analysis & Trends
Healthequity's FCF Margin history runs 14 years deep, the most recent figure standing at 23.01% for Q2 2026.
- On a quarterly basis, FCF Margin rose 829.0% year-over-year to 23.01% in Q2 2026; TTM through Apr 2026 was 36.64%, a 1076.0% increase from a year earlier, with the FY2026 full-year figure at 34.8%, up 665.0% from the prior year.
- FCF Margin eased to 23.01% in Q2 2026 per HQY's latest filing, from 46.23% in the prior quarter.
- Across five years, FCF Margin topped out at 46.36% in Q3 2025 and bottomed at 3.19% in Q2 2022.
- The 5-year median for FCF Margin is 24.46% (2022), against an average of 24.94%.
- Across the five-year window, FCF Margin plunged 1922 bps in 2022 and jumped 2257 bps in 2026, its largest moves.
- Year by year, FCF Margin stood at 6.95% in 2022, then soared by 163 bps to 18.25% in 2023, then soared by 111 bps to 38.54% in 2024, then dropped by 17 bps to 31.87% in 2025, then retreated by 28 bps to 23.01% in 2026.
- Per Business Quant, the three latest HQY FCF Margin figures stand at 23.01% (Q2 2026), 46.23% (Q1 2026), and 31.87% (Q4 2025).
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FCF Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Veeva Systems | 31.70 Bn | 24.39 Bn | 662.02 Mn | 127.46% |
| 2 | BrightSpring Health Services | 14.70 Bn | 13.80 Bn | 482.22 Mn | 2.81% |
| 3 | Healthequity | 8.30 Bn | 8.04 Bn | 256.31 Mn | 23.01% |
| 4 | Hinge Health | 5.94 Bn | 5.62 Bn | 154.23 Mn | 23.59% |
| 5 | 10x Genomics | 5.86 Bn | 5.32 Bn | 106.18 Mn | 17.24% |
| 6 | MiniMed | 4.47 Bn | 4.17 Bn | 480.00 Mn | -27.00% |
| 7 | Waystar Holding | 4.45 Bn | 4.39 Bn | 216.84 Mn | 22.17% |
| 8 | Doximity | 3.94 Bn | 3.19 Bn | 125.97 Mn | 79.91% |
| 9 | Privia Health | 3.18 Bn | 2.76 Bn | - | -8.03% |
| 10 | Omnicell | 1.85 Bn | 1.61 Bn | 140.36 Mn | 18.01% |
Historic Data
Download Data| Date | Value |
|---|---|
| Apr 30, 2026 | 23.01% |
| Jan 31, 2026 | 46.23% |
| Oct 31, 2025 | 31.87% |
| Jul 31, 2025 | 46.36% |
| Apr 30, 2025 | 14.71% |
| Jan 31, 2025 | 23.66% |
| Oct 31, 2024 | 38.54% |
| Jul 31, 2024 | 27.85% |
| Apr 30, 2024 | 22.50% |
| Jan 31, 2024 | 25.29% |
| Oct 31, 2023 | 18.25% |
| Jul 31, 2023 | 23.99% |
| Apr 30, 2023 | 12.85% |
| Jan 31, 2023 | 37.39% |
| Oct 31, 2022 | 6.95% |
| Jul 31, 2022 | 24.93% |
| Apr 30, 2022 | -3.19% |
| Jan 31, 2022 | 27.76% |
| Oct 31, 2021 | 26.17% |
| Jul 31, 2021 | 4.04% |