Healthequity (HQY) Net Margin (2013 - 2026)
Healthequity's (HQY) quarterly Net Margin came in at 19.57% in Q2 2026, up 327.0% year-on-year from 4.58% in Q2 2025, and up 31.6% quarter-over-quarter from 14.87% in Q1 2026.
Healthequity (HQY) Net Margin (2013 - 2026) Analysis & Trends
Healthequity's Net Margin history runs 14 years deep, the most recent figure standing at 19.57% for Q2 2026.
- On a quarterly basis, Net Margin rose 327.0% year-over-year to 19.57% in Q2 2026; TTM through Apr 2026 was 17.25%, a 745.0% increase from a year earlier, with the FY2026 full-year figure at 16.38%, up 832.0% from the prior year.
- Net Margin rose to 19.57% in Q2 2026 per HQY's latest filing, from 14.87% in the prior quarter.
- Across five years, Net Margin topped out at 19.57% in Q2 2026 and bottomed at 16.14% in Q1 2022.
- The 5-year median for Net Margin is 7.17% (2023), against an average of 6.15%.
- Across the five-year window, Net Margin sank 1900 bps in 2022 and surged 1605 bps in 2023, its largest moves.
- Year by year, Net Margin stood at 0.76% in 2022, then surged by 875 bps to 5.89% in 2023, then slumped by 68 bps to 1.9% in 2024, then soared by 745 bps to 16.05% in 2025, then grew by 22 bps to 19.57% in 2026.
- Per Business Quant, the three latest HQY Net Margin figures stand at 19.57% (Q2 2026), 14.87% (Q1 2026), and 16.05% (Q4 2025).
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Veeva Systems | 29.34 Bn | 22.03 Bn | 662.02 Mn | 29.55% |
| 2 | BrightSpring Health Services | 13.49 Bn | 12.59 Bn | 482.22 Mn | 4.12% |
| 3 | Healthequity | 7.96 Bn | 7.70 Bn | 256.31 Mn | 19.57% |
| 4 | 10x Genomics | 6.17 Bn | 5.63 Bn | 106.18 Mn | -8.93% |
| 5 | Hinge Health | 6.02 Bn | 5.70 Bn | 154.23 Mn | 18.66% |
| 6 | MiniMed | 4.19 Bn | 3.89 Bn | 480.00 Mn | -22.10% |
| 7 | Waystar Holding | 4.14 Bn | 4.07 Bn | 216.84 Mn | 13.79% |
| 8 | Doximity | 3.82 Bn | 3.08 Bn | 125.97 Mn | 13.15% |
| 9 | Privia Health | 3.10 Bn | 2.73 Bn | - | 0.61% |
| 10 | Omnicell | 1.81 Bn | 1.57 Bn | 140.36 Mn | 3.67% |
Historic Data
Download Data| Date | Value |
|---|---|
| Apr 30, 2026 | 19.57% |
| Jan 31, 2026 | 14.87% |
| Oct 31, 2025 | 16.05% |
| Jul 31, 2025 | 18.37% |
| Apr 30, 2025 | 16.31% |
| Jan 31, 2025 | 8.46% |
| Oct 31, 2024 | 1.90% |
| Jul 31, 2024 | 11.94% |
| Apr 30, 2024 | 10.02% |
| Jan 31, 2024 | 10.05% |
| Oct 31, 2023 | 5.89% |
| Jul 31, 2023 | 4.34% |
| Apr 30, 2023 | 1.67% |
| Jan 31, 2023 | -0.09% |
| Oct 31, 2022 | -0.76% |
| Jul 31, 2022 | -5.17% |
| Apr 30, 2022 | -6.63% |
| Jan 31, 2022 | -16.14% |
| Oct 31, 2021 | -2.80% |
| Jul 31, 2021 | -2.02% |