Healthequity, Inc.
$8.59B- Market cap
- $7.95B
- Debt
- +$957.38M
- Cash
- −$318.93M
Capital structure 89% equity / 11% debt · EV / Revenue 6.54x · EV / EBITDA 17.73x
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 NRG $96.09 current versus $73.03 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 NRG'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
Expensive
Lower leverage
Statements
Core statements aligned to each company's latest fiscal year.
SEC periods: HQY FY 2026 (ended Jan 31, 2026) · NRG 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 17.73x
Capital structure 60% equity / 40% debt · EV / Revenue 1.20x · EV / EBITDA 13.86x
NRG carries the larger enterprise value at $36.92B against $8.59B; NRG trades on the lower EV / Revenue multiple (1.20x vs 6.54x); NRG on the lower EV / EBITDA (13.86x vs 17.73x).
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.
NRG Energy, Inc · implied price per share
Bear
-$26.26
Base
-$21.49
Bull
-$13.00
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
9.88x
Net debt / EBITDA
Leverage against operating earnings
1.32x
4.47x
Cash and equivalents
Liquid reserves on the balance sheet
$318.93M
$4.71B
Total debt
Interest-bearing obligations outstanding
Comparable set
Where the pair sits against the wider comparable set.
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$957.38M
$16.60B
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