HQY NASDAQ
HealthEquity, Inc.
1W: +11.5%
1M: +17.6%
3M: +2.5%
YTD: +13.9%
1Y: +7.7%
3Y: +36.3%
5Y: +63.0%
$101.33
-2.42 (-2.33%)
Weekly Expected Move ±3.5%
$97
$100
$104
$108
$111
Credit Risk of going bust: lower than 76% of companies Debt: 10.2% of company value Bonds: $84.1M held by 111 funds, 119 bp over Treasuries → details ▾
Of US companies ranked in the safest four tenths, about 1 in 3,500 filed for bankruptcy within a year (2020-2025).
If the stock fell to about $0.88 (down 99.2%), HealthEquity, Inc. would be worth roughly what it owes.
Total debt $971.0M against a stock market value of $8.58B.
Distance to default 8.75 (Merton model): prices to 2026-10-26, balance sheet 2026-07-31, debt counted $475.5M (short-term plus half of long-term), stock volatility 35.3%; Altman Z'' 3.10. A ranking and a back-test, not a forecast.
Bond figures are fund-reported marks (SEC N-PORT) as of Jul 2026. How these are computed.
If the stock fell to about $0.88 (down 99.2%), HealthEquity, Inc. would be worth roughly what it owes.
Total debt $971.0M against a stock market value of $8.58B.
Distance to default 8.75 (Merton model): prices to 2026-10-26, balance sheet 2026-07-31, debt counted $475.5M (short-term plus half of long-term), stock volatility 35.3%; Altman Z'' 3.10. A ranking and a back-test, not a forecast.
Bond figures are fund-reported marks (SEC N-PORT) as of Jul 2026. How these are computed.
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Cash Flow Trends
Operating Cash Flow
$457M
+34.5% ▲
5Y CAGR: +20.3%
Capital Expenditures
$2M
+5.5% ▲
5Y CAGR: -54.1%
Free Cash Flow
$455M
+34.7% ▲
5Y CAGR: +40.0%
Dividends Paid
$0
+0.0% ▲
Buybacks
$299M
-146.3% ▼
Net Change in Cash
$23M
+121.3% ▲
Cash Flow Composition
Year-over-Year Growth
View Full Cash Flow Statement
| Line Item | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|---|
| — Operating Activities — | |||||
| Net Income | -$44M | -$26M | $56M | $97M | $215M |
| Depreciation & Amort. | $137M | $161M | $153M | $162M | $155M |
| Stock-Based Comp. | $53M | $63M | $77M | $96M | $73M |
| Change in Working Capital | $2M | -$33M | -$33M | -$7M | -$27M |
| Other Non-Cash Items | $17M | $4M | $4M | $4M | $1M |
| Operating Cash Flow | $141M | $151M | $243M | $340M | $457M |
| — Investing Activities — | |||||
| Capital Expenditures | -$137M | -$119M | -$2M | -$2M | -$2M |
| Acquisitions (Net) | -$505M | $0 | $0 | $0 | $0 |
| Investment Purchases | $128M | $0 | $0 | $0 | $0 |
| Investment Sales | $2M | $0 | $0 | $0 | $0 |
| Other Investing | -$128M | $0 | -$44M | -$503M | -$45M |
| Investing Cash Flow | -$639M | -$119M | -$46M | -$505M | -$47M |
| — Financing Activities — | |||||
| Net Debt Issuance | -$65M | -$9M | -$54M | $171M | -$100M |
| Stock Repurchased | $0 | $0 | $0 | -$121M | -$299M |
| Dividends Paid | $0 | $0 | $0 | $0 | $0 |
| Other Financing | -$6M | -$603K | $865K | -$2M | $867K |
| Financing Cash Flow | $395M | -$3M | -$47M | $58M | -$387M |
| Net Change in Cash | -$103M | $29M | $150M | -$108M | $23M |
| Cash End of Period | $225M | $254M | $404M | $296M | $319M |
| Free Cash Flow | $4M | $32M | $197M | $338M | $455M |