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 FE $96.07 current versus $65.37 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 FE'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 lag
Pricing power
Operating leverage
Multiple premium
Expensive
Lower leverage
Statements
Core statements aligned to each company's latest fiscal year.
SEC periods: HQY FY 2026 (ended Jan 31, 2026) · FE 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 51% equity / 49% debt · EV / Revenue 3.53x · EV / EBITDA 13.40x
FE carries the larger enterprise value at $53.23B against $8.58B; FE trades on the lower EV / Revenue multiple (3.53x vs 6.54x); FE on the lower EV / EBITDA (13.40x 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.
FIRSTENERGY CORP · 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
2.10x
Net debt / EBITDA
Leverage against operating earnings
1.32x
6.59x
Cash and equivalents
Liquid reserves on the balance sheet
$318.93M
$57.00M
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
NEXTERA ENERGY INC
HQY vs NEE
Duke Energy CORP
HQY vs DUK
SOUTHERN CO
HQY vs SO
AMERICAN ELECTRIC POWER CO INC
HQY vs AEP
ATMOS ENERGY CORP
HQY vs ATO
ALLIANT ENERGY CORP
HQY vs LNT
$957.38M
$26.23B
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.