Healthequity (HQY) FCF Margin (2013 - 2026)
Healthequity (HQY) recorded quarterly FCF Margin of 23.01% in Q2 2026, down 49.59% quarter-over-quarter from 45.64% in Q1 2026, and up 347.0% on a YoY basis from 5.15% in Q2 2025.
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.
- In Q2 2026, FCF Margin rose 347.0% year-over-year to 23.01%; the TTM figure through Apr 2026 stood at 35.3% (up 797.0% YoY), while the FY2026 annual figure was 34.65%, up 633.0% from the prior year.
- FCF Margin was 23.01% for Q2 2026 at Healthequity, down from 45.64% in the prior quarter.
- In the past five years, FCF Margin ranged from a high of 45.64% in Q1 2026 to a low of 5.74% in Q1 2022.
- Historically, FCF Margin has averaged 24.03% across 5 years, with a median of 25.98% in 2023.
- The sharpest annual moves came in 2022 and 2023: FCF Margin slumped 2394 bps in 2022, then jumped 4454 bps in 2023.
- A 5-year view of FCF Margin shows it stood at 6.01% in 2022, then soared by 406 bps to 30.42% in 2023, then decreased by 1 bps to 30.13% in 2024, then advanced by 5 bps to 31.65% in 2025, then declined by 27 bps to 23.01% in 2026.
- The last three FCF Margin figures came in at 23.01% (Q2 2026), 45.64% (Q1 2026), and 31.65% (Q4 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FCF Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Veeva Systems | 24.83 Bn | 17.52 Bn | 662.02 Mn | 127.46% |
| 2 | BrightSpring Health Services | 13.57 Bn | 12.69 Bn | 482.22 Mn | 3.30% |
| 3 | Healthequity | 7.20 Bn | 6.93 Bn | 256.31 Mn | 23.01% |
| 4 | Hinge Health | 5.42 Bn | 5.11 Bn | 154.23 Mn | 23.62% |
| 5 | 10x Genomics | 4.46 Bn | 3.92 Bn | 106.18 Mn | 17.24% |
| 6 | Doximity | 3.81 Bn | 3.06 Bn | 125.97 Mn | 73.79% |
| 7 | Waystar Holding | 3.52 Bn | 3.36 Bn | 268.04 Mn | 22.17% |
| 8 | Privia Health | 2.94 Bn | 2.57 Bn | 595.71 Mn | -8.19% |
| 9 | Omnicell | 1.76 Bn | 1.59 Bn | 140.36 Mn | 13.57% |
| 10 | Teladoc Health | 1.45 Bn | 696.57 Mn | 562.57 Mn | -4.02% |
Historic Data
Download Data| Date | Value |
|---|---|
| Apr 30, 2026 | 23.01% |
| Jan 31, 2026 | 45.64% |
| Oct 31, 2025 | 31.65% |
| Jul 31, 2025 | 41.68% |
| Apr 30, 2025 | 19.54% |
| Jan 31, 2025 | 24.31% |
| Oct 31, 2024 | 30.13% |
| Jul 31, 2024 | 36.27% |
| Apr 30, 2024 | 22.50% |
| Jan 31, 2024 | 28.77% |
| Oct 31, 2023 | 30.42% |
| Jul 31, 2023 | 27.64% |
| Apr 30, 2023 | 9.22% |
| Jan 31, 2023 | 38.80% |
| Oct 31, 2022 | 6.01% |
| Jul 31, 2022 | 19.87% |
| Apr 30, 2022 | 2.87% |
| Jan 31, 2022 | -5.74% |
| Oct 31, 2021 | 29.95% |
| Jul 31, 2021 | 3.13% |