Healthequity (HQY) Operating Margin (2013 - 2026)

Healthequity has reported Operating Margin for 14 years, with the latest figure at 28.14% in Q3 2026.

• On a quarterly basis, Operating Margin rose 64.0% year-over-year to 28.14% in Q3 2026; TTM through Jul 2026 was 25.8%, a 732.0% increase from a year earlier, with the FY2026 full-year figure at 24.55%, up 1102.0% from the prior year.
• Operating Margin was 28.14% for Q3 2026 at Healthequity, down from 29.03% in the prior quarter.
• The five-year high for Operating Margin was 29.03% in Q2 2026, with the low at 13.4% in Q1 2022.
• Average Operating Margin over 5 years is 12.98%, with a median of 13.52% recorded in 2025.
• The sharpest annual moves came in 2022 and 2023: Operating Margin slumped 1256 bps in 2022, then jumped 1906 bps in 2023.
• Over 5 years, Operating Margin stood at 2.56% in 2022, then soared by 383 bps to 12.4% in 2023, then plunged by 47 bps to 6.53% in 2024, then jumped by 274 bps to 24.43% in 2025, then climbed by 15 bps to 28.14% in 2026.
• The last three Operating Margin figures came in at 28.14% (Q3 2026), 29.03% (Q2 2026), and 21.24% (Q1 2026), per Business Quant data.