Healthequity (HQY) Gross Margin (2013 - 2026)
Healthequity (HQY) posted quarterly Gross Margin of 72.27% for Q2 2026, up 447.0% year-over-year from 13.21% in Q2 2025, and up 5.99% quarter-over-quarter from 68.19% in Q1 2026.
Healthequity (HQY) Gross Margin (2013 - 2026) Analysis & Trends
Healthequity's Gross Margin history runs 14 years deep, the most recent figure standing at 72.27% for Q2 2026.
- In Q2 2026, Gross Margin rose 447.0% year-over-year to 72.27%; the TTM figure through Apr 2026 stood at 70.68% (up 516.0% YoY), while the FY2026 annual figure was 69.52%, up 474.0% from the prior year.
- Gross Margin for Q2 2026 stood at 72.27%, up from 68.19% in the prior quarter.
- The five-year high for Gross Margin was 72.27% in Q2 2026, with the low at 51.95% in Q1 2022.
- The 5-year median for Gross Margin is 63.07% (2023), against an average of 63.28%.
- The sharpest annual moves came in 2022 and 2026: Gross Margin tumbled 198 bps in 2022, then soared 756 bps in 2026.
- Healthequity's Gross Margin stood at 58.92% in 2022, then rose by 8 bps to 63.87% in 2023, then increased by 3 bps to 65.58% in 2024, then rose by 8 bps to 70.79% in 2025, then rose by 2 bps to 72.27% in 2026.
- Business Quant data shows HQY's Gross Margin at 72.27% in Q2 2026, 68.19% in Q1 2026, and 70.79% in Q4 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Veeva Systems | 39.72 Bn | 32.40 Bn | 662.02 Mn | 74.98% |
| 2 | BrightSpring Health Services | 12.19 Bn | 11.64 Bn | 492.75 Mn | 12.72% |
| 3 | Healthequity | 8.79 Bn | 8.52 Bn | 256.31 Mn | 72.27% |
| 4 | 10x Genomics | 7.31 Bn | 6.76 Bn | 112.50 Mn | 74.48% |
| 5 | Hinge Health | 7.10 Bn | 6.71 Bn | 183.95 Mn | 86.44% |
| 6 | MiniMed | 5.66 Bn | 5.36 Bn | 480.00 Mn | 57.35% |
| 7 | Waystar Holding | 4.76 Bn | 4.56 Bn | 221.99 Mn | 69.44% |
| 8 | Doximity | 4.46 Bn | 3.77 Bn | 132.93 Mn | 84.87% |
| 9 | Heartflow | 3.66 Bn | 3.28 Bn | 53.19 Mn | 83.00% |
| 10 | Privia Health | 2.78 Bn | 2.42 Bn | - | - |
Historic Data
Download Data| Date | Value |
|---|---|
| Apr 30, 2026 | 72.27% |
| Jan 31, 2026 | 68.19% |
| Oct 31, 2025 | 70.79% |
| Jul 31, 2025 | 71.38% |
| Apr 30, 2025 | 67.80% |
| Jan 31, 2025 | 60.63% |
| Oct 31, 2024 | 65.58% |
| Jul 31, 2024 | 68.03% |
| Apr 30, 2024 | 65.07% |
| Jan 31, 2024 | 62.24% |
| Oct 31, 2023 | 63.87% |
| Jul 31, 2023 | 62.27% |
| Apr 30, 2023 | 60.74% |
| Jan 31, 2023 | 57.63% |
| Oct 31, 2022 | 58.92% |
| Jul 31, 2022 | 57.36% |
| Apr 30, 2022 | 54.26% |
| Jan 31, 2022 | 51.95% |
| Oct 31, 2021 | 57.55% |
| Jul 31, 2021 | 59.35% |