HealthEquity (HQY)
NASDAQHealth CareMedical - Healthcare Information ServicesSnapshot 2026-09-04
$96.07-2.74%
Close 2026-09-04 · 1-day change
NASDAQHealth CareMedical - Healthcare Information ServicesSnapshot 2026-09-04
QuarterlyIQ Insights · HQY
Price, fair value, and the multiples that frame it on the same time axis. Scroll over the price chart to zoom.
Daily closes. Earnings/event dots inline.
A consensus fair price across 11 valuation methods, at three horizons. As of 2026-09-04. Estimates are diagnostics, not price targets. Short-horizon estimates are close to coin-flips, so confidence is a method-agreement read, not a prediction.
Today's peer multiple on trailing earnings, with no growth credited. This is the headline read.
Adds projected growth, so it leans optimistic by design. Read it as upside context, not a base case.
We take the 12-month fair value above and grade our own number — how the market prices this name versus what we'd justify, and where the two diverge.
At $96 HQY trades at 24× p/e, in line with its 23× p/e peer median — but our blended $108 fair value sits above the price. It's a high-confidence read. Analysts target $108–$142. Note: our $108 fair value sits below the entire analyst range ($108–$142). Not investment advice.
One valuation read at a 12-month horizon, plus how price compares to peers and the company's own history.
Score 100 = cheapest in the cohort, 0 = richest. Bars are filled left-to-right based on the peer-relative score (or PEG/self-history where shown).
Each method's implied share price per horizon. Provisional rows use a projected (historical-CAGR) growth input rather than analyst or management guidance.
| Method | Horizon | Est. price | Multiple | Per-share input | EPS source | Confidence |
|---|---|---|---|---|---|---|
| analyst target | 12M | $111.00 | — | — | Analyst | high |
| dcf fcfe | 12M | $203.05 | — | — | Hist. CAGR | high |
| dcf fcff | 12M | $310.08 | — | — | Hist. CAGR | high |
| graham number | 12M | $46.57 | — | — | TTM | high |
| Peer EV/EBITDA |
A “consensus-then vs. actual-now” overlay is on the way — what our valuation estimate said on a past date versus where the price actually landed.
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
A long-thesis check that carries the widest uncertainty of the three horizons.
Above average on quality vs scored peers
A second lens on the 12-month fair value: for companies that score high on measured quality (profitability, balance-sheet safety, earnings stability), this read trusts more of today's profit margins instead of averaging them toward their multi-year history the way the headline number does. Shown alongside the fair value above, not in place of it. A diagnostic, not a price target or a buy/sell signal.
Direction of the business behind the multiple. Bands are backend reads; trailing-12-month basis.
$108.00 – $142.00 (median $111.00) · 5 analysts · as of 2026-08-31
No fragility gates fired. Regime (Mania) does not concentrate fragility.
For similar setups historically (n=20,154): about 33% saw a 20%+ drawdown, and roughly 76% of those did not recover within the year. These are historical base rates for the cohort, not a forecast of this stock.
At today's price you pay about 87% over what the business is worth with no growth; closing that gap needs roughly 14.2 years of the forecast growth to come through. These describe the expectations embedded in the price, not a forecast of the move. Reverse-DCF base: $2.41/sh owner earnings.
Roughly priced in line with peers.
Self-history needs ~20 months of data.
Trailing four: 2026-Q2, 2026-Q3, 2027-Q1, 2027-Q2
Direction of the business behind the multiple. Bands are backend reads; trailing-12-month basis.
| 12M |
| $53.01 |
| 12.7 |
| 4.83 |
| TTM |
| high |
| Peer P/FCF | 12M | $116.09 | 21.3 | 5.44 | TTM | high |
| Peer P/E | 12M | $97.09 | 18.7 | 5.18 | ntm analyst | high |
| Peer P/S | 12M | $61.58 | 3.8 | 16.21 | TTM | high |
| PEG | 12M | $137.71 | 33.8 | 4.07 | TTM | high |
| residual income | 12M | $32.68 | — | — | TTM | high |
| triangulated | 12M | $99.42 | 22.9 | 4.34 | Triangulated | high |
| Peer P/FCF | 3Y | $176.56 | 21.3 | 8.27 | Hist. CAGR(prov.) | medium |
| Peer P/E | 3Y | $109.74 | 18.7 | 5.85 | Analyst | medium |
| Peer P/S | 3Y | $73.51 | 3.8 | 19.36 | guidance | medium |
| PEG | 3Y | $198.07 | 33.8 | 5.85 | Analyst | medium |
| Peer P/FCF | 5Y | $233.51 | 21.3 | 10.94 | Hist. CAGR(prov.) | medium |
| Peer P/E | 5Y | $118.43 | 18.7 | 6.32 | Analyst | medium |
| Peer P/S | 5Y | $79.33 | 3.8 | 20.89 | guidance | medium |
| PEG | 5Y | $213.75 | 33.8 | 6.32 | Analyst | medium |