Healthequity (HQY) Operating Expenses (2013 - 2026)
Healthequity's Operating Expenses came in at $159.26 million for fiscal Q2 2027 (quarter ended Jul 31, 2026), up 11.4% from $142.98 million a year earlier and up 3.9% from the prior quarter.
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Analysis
Healthequity (HQY) Operating Expenses (2013 - 2026) Analysis & Trends
Over the trailing twelve months to Jul 31, 2026, Healthequity reported Operating Expenses of $619.07 million, up 1.7% year-over-year; for FY2026 (ended Jan 31, 2026), it was $590.66 million, down 3.9% from FY2025.
- Operating Expenses carries a five-year compound annual growth rate of 9.1% (FY2021 to FY2026).
- Going back by fiscal year, Operating Expenses was $614.93 million in FY2025 (+21.8%), $504.94 million in FY2024 (+4.6%), $482.88 million in FY2023 (+7.5%) and $449 million in FY2022 (+17.7%).
- The fiscal Q2 2027 figure represents the highest quarterly Operating Expenses since fiscal Q3 2025.
- Year-over-year, Operating Expenses has increased for three consecutive quarters, with growth averaging 7.9% over the last eight quarters.
- The fastest year-over-year change in Operating Expenses over five years came in fiscal Q3 2025 (growth of 38.3%), and the weakest in fiscal Q3 2026 (a decline of 15.8%).
- Business Quant data shows HQY's Operating Expenses at $153.36 million (Q1 2027), $157.08 million (Q4 2026) and $149.37 million (Q3 2026) in the three fiscal quarters before Q2 2027.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Robinhood Markets | 101.14 Bn | 82.23 Bn | - | 734.00 Mn |
| 2 | Bank of New York Mellon | 98.14 Bn | 37.51 Bn | - | 3.44 Bn |
| 3 | Cme | 94.12 Bn | 94.12 Bn | - | 599.10 Mn |
| 4 | Intercontinental Exchange | 85.35 Bn | 79.16 Bn | - | 1.28 Bn |
| 5 | Nasdaq | 51.71 Bn | 49.14 Bn | 1.50 Bn | 788.00 Mn |
| 6 | State Street | 47.94 Bn | 47.94 Bn | - | 2.66 Bn |
| 7 | Interactive Brokers | 38.49 Bn | 31.95 Bn | - | 440.00 Mn |
| 8 | Northern Trust | 30.99 Bn | 30.99 Bn | - | 1.64 Bn |
| 9 | Cboe Global Markets | 28.76 Bn | 20.41 Bn | 731.60 Mn | 255.60 Mn |
| 10 | Healthequity | 7.33 Bn | 6.18 Bn | 257.95 Mn | 159.26 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jul 31, 2026 | 159.26 Mn |
| Apr 30, 2026 | 153.36 Mn |
| Jan 31, 2026 | 157.08 Mn |
| Oct 31, 2025 | 149.37 Mn |
| Jul 31, 2025 | 142.98 Mn |
| Apr 30, 2025 | 141.23 Mn |
| Jan 31, 2025 | 146.89 Mn |
| Oct 31, 2024 | 177.40 Mn |
| Jul 31, 2024 | 145.12 Mn |
| Apr 30, 2024 | 145.51 Mn |
| Jan 31, 2024 | 124.43 Mn |
| Oct 31, 2023 | 128.29 Mn |
| Jul 31, 2023 | 126.93 Mn |
| Apr 30, 2023 | 125.29 Mn |
| Jan 31, 2023 | 121.56 Mn |
| Oct 31, 2022 | 121.78 Mn |
| Jul 31, 2022 | 120.66 Mn |
| Apr 30, 2022 | 118.89 Mn |
| Jan 31, 2022 | 132.86 Mn |
| Oct 31, 2021 | 103.94 Mn |
API Access
Healthequity Operating Expenses API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-expenses&ticker=HQY&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "ticker": "HQY", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-expenses&ticker=HQY&period=max&api_key=YOUR_API_KEY");
const data = await res.json();