Healthequity, Inc. (HQY) Operating Margin (2013 - 2026)
Healthequity's Operating Margin came in at 28.14% for fiscal Q2 2027 (quarter ended Jul 31, 2026), up 0.64 percentage points from 27.50% a year earlier but down 0.89 percentage points from the prior quarter.
Healthequity, Inc. (HQY) Operating Margin (2013 - 2026) Analysis & Trends
Over the trailing twelve months to Jul 31, 2026, Healthequity reported Operating Margin of 25.80%, up 7.32 percentage points year-over-year; for FY2026 (ended Jan 31, 2026), it was 24.55%, up 11.02 percentage points from FY2025.
- Operating Margin has increased in each of the last four fiscal years, with a five-year change of +19.91 percentage points (FY2021 to FY2026).
- Going back by fiscal year, Operating Margin was 13.53% in FY2025 (+1.76 pp), 11.77% in FY2024 (+10.72 pp), 1.05% in FY2023 (+4.25 pp) and -3.20% in FY2022 (-7.84 pp).
- The five-year range for quarterly Operating Margin is -13.40% (fiscal Q4 2022) to 29.03% (fiscal Q1 2027).
- Year-over-year, Operating Margin has increased for six consecutive quarters, with an average year-over-year change of +5.19 percentage points over the last eight quarters.
- The fastest year-over-year change in Operating Margin over five years came in fiscal Q4 2023 (a gain of 19.06 percentage points), and the weakest in fiscal Q4 2022 (a drop of 12.56 percentage points).
- Business Quant data shows HQY's Operating Margin at 29.03% (Q1 2027), 21.24% (Q4 2026) and 24.43% (Q3 2026) in the three fiscal quarters before Q2 2027.
Peer Comparison
Historic Data
| Date | Value |
|---|---|
| Jul 31, 2026 | 28.14% |
| Apr 30, 2026 | 29.03% |
| Jan 31, 2026 | 21.24% |
| Oct 31, 2025 | 24.43% |
| Jul 31, 2025 | 27.50% |
| Apr 30, 2025 | 25.11% |
| Jan 31, 2025 | 13.52% |
| Oct 31, 2024 | 6.53% |
| Jul 31, 2024 | 19.65% |
| Apr 30, 2024 | 14.48% |
| Jan 31, 2024 | 14.82% |
| Oct 31, 2023 | 12.40% |
| Jul 31, 2023 | 10.16% |
| Apr 30, 2023 | 9.48% |
| Jan 31, 2023 | 5.65% |
| Oct 31, 2022 | 2.56% |
| Jul 31, 2022 | -1.17% |
| Apr 30, 2022 | -3.54% |
| Jan 31, 2022 | -13.40% |
| Oct 31, 2021 | -0.20% |
Healthequity, Inc. Operating Margin 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-margin&ticker=HQY&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-margin", "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-margin&ticker=HQY&period=max&api_key=YOUR_API_KEY");
const data = await res.json();