Healthequity, Inc.
$8.58B- Market cap
- $7.95B
- Debt
- +$957.38M
- Cash
- −$318.93M
Capital structure 89% equity / 11% debt · EV / Revenue 6.54x · EV / EBITDA 17.72x
Compare price, profitability, solvency, and SEC-reported financials side by side—before deciding which assumptions deserve a closer look.
FY 2025 · Mkt cap
Decision snapshot: HQY stock price at premium vs AES $96.07 current versus $28.88 implied using P/E multiple.
Quick read
Each company valued on the other's multiple, then compared with the market price.
Implied fair value · at AES's multiple
Implied fair value · at HQY's multiple
Snapshot Sep 4, 4:00 PM ET
Metric by metric
Where each company leads, and how wide the gap is.
Growth edge
Pricing power
Operating leverage
Multiple premium
Premium justified
Lower leverage
Statements
Core statements aligned to each company's latest fiscal year.
SEC periods: HQY FY 2026 (ended Jan 31, 2026) · AES FY 2025 (ended Dec 31, 2025). Fiscal years are not aligned.
Trendline
Six fiscal years of revenue, earnings, and margins before underwriting a re-rating.
Price framework
Market cap plus debt, less cash.
Capital structure 89% equity / 11% debt · EV / Revenue 6.54x · EV / EBITDA 17.72x
Capital structure 27% equity / 73% debt · EV / Revenue 3.03x · EV / EBITDA 7.78x
AES carries the larger enterprise value at $37.12B against $8.58B; AES trades on the lower EV / Revenue multiple (3.03x vs 6.54x); AES on the lower EV / EBITDA (7.78x vs 17.72x).
Price framework
The same filing-backed model used on each company's valuation page, with company-specific inputs and calculated scenarios.
HEALTHEQUITY, INC. · implied price per share
Debt and bridge-cash inputs are required to translate enterprise value into equity value.
THE AES CORPORATION · implied price per share
Latest annual free cash flow must be positive to qualify the filing-backed baseline.
Balance sheet health
Financial health checks to separate durable balance sheets from potential value traps.
Financial strength on a 0–9 scale.
Bankruptcy-risk signal from balance sheet and earnings power.
Debt / equity
Total debt against shareholders' equity
0.45x
6.92x
Net debt / EBITDA
Leverage against operating earnings
1.32x
5.57x
Cash and equivalents
Liquid reserves on the balance sheet
$318.93M
$1.56B
Total debt
Interest-bearing obligations outstanding
Comparable set
Where the pair sits against the wider comparable set.
Keep comparing
Open adjacent comparisons from the same industry to pressure-test the read across multiple pairs.
Paylocity Holding Corp
HQY vs PCTY
Paycom Software, Inc.
HQY vs PAYC
AUTOMATIC DATA PROCESSING INC
HQY vs ADP
WEX Inc.
HQY vs WEX
NRG ENERGY, INC.
HQY vs NRG
Vistra Corp.
HQY vs VST
Duke Energy CORP
HQY vs DUK
CONSOLIDATED EDISON INC
HQY vs ED
Evergy, Inc.
HQY vs EVRG
NEXTERA ENERGY INC
HQY vs NEE
$957.38M
$28.13B
LLM-powered synthesis
An on-demand narrative read of the same deterministic data.
The deterministic comparison remains available. Sign in when you want an on-demand narrative synthesis of the same data.