Healthequity (HQY) Net Margin (2013 - 2026)
Healthequity (HQY) recorded quarterly Net Margin of 19.57% in Q2 2026, up 31.67% quarter-over-quarter from 14.87% in Q1 2026, and up 328.0% on a YoY basis from 4.57% in Q2 2025.
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.
- In Q2 2026, Net Margin rose 328.0% year-over-year to 19.57%; the TTM figure through Apr 2026 stood at 17.26% (up 746.0% YoY), while the FY2026 annual figure was 16.38%, up 832.0% from the prior year.
- Net Margin was 19.57% for Q2 2026 at Healthequity, up from 14.87% in the prior quarter.
- In the past five years, Net Margin ranged from a high of 19.57% in Q2 2026 to a low of 16.14% in Q1 2022.
- Historically, Net Margin has averaged 6.15% across 5 years, with a median of 7.17% in 2023.
- The sharpest annual moves came in 2022 and 2023: Net Margin sank 1900 bps in 2022, then soared 1605 bps in 2023.
- A 5-year view of Net Margin shows it stood at 0.76% in 2022, then surged by 875 bps to 5.89% in 2023, then plunged by 68 bps to 1.9% in 2024, then surged by 746 bps to 16.06% in 2025, then rose by 22 bps to 19.57% in 2026.
- The last three Net Margin figures came in at 19.57% (Q2 2026), 14.87% (Q1 2026), and 16.06% (Q4 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Veeva Systems | 24.83 Bn | 17.52 Bn | 662.02 Mn | 29.55% |
| 2 | BrightSpring Health Services | 13.57 Bn | 12.69 Bn | 482.22 Mn | 2.06% |
| 3 | Healthequity | 7.20 Bn | 6.93 Bn | 256.31 Mn | 19.57% |
| 4 | Hinge Health | 5.42 Bn | 5.11 Bn | 154.23 Mn | 18.66% |
| 5 | 10x Genomics | 4.46 Bn | 3.92 Bn | 106.18 Mn | -8.93% |
| 6 | Doximity | 3.81 Bn | 3.06 Bn | 125.97 Mn | 13.15% |
| 7 | Waystar Holding | 3.52 Bn | 3.36 Bn | 268.04 Mn | 13.80% |
| 8 | Privia Health | 2.94 Bn | 2.57 Bn | 595.71 Mn | 0.61% |
| 9 | Omnicell | 1.76 Bn | 1.59 Bn | 140.36 Mn | 3.68% |
| 10 | Teladoc Health | 1.45 Bn | 696.57 Mn | 562.57 Mn | -10.40% |
Historic Data
Download Data| Date | Value |
|---|---|
| Apr 30, 2026 | 19.57% |
| Jan 31, 2026 | 14.87% |
| Oct 31, 2025 | 16.06% |
| Jul 31, 2025 | 18.37% |
| Apr 30, 2025 | 16.30% |
| 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% |