Healthequity, Inc. (HQY)

Services-Business Services, NEC

Latest Price

$101.36

TTM P/E

36.59

Normalized P/E

100.76

TTM Div Yield

Fwd Div Yield

Book Value

24.06

P/B Ratio

4.21

Valuation metrics

EPS: $2.46

Book value / share: $24.79

Formula: √(22.5 × EPS × BVPS)

Graham Number

$37.04

63% downside

Base FCF: $241M (median of recent 5yr)

Growth: 25%/yr (median YOY, capped at 25%)

Discount rate: 10%

Terminal growth: 3%

Projection horizon: 10 years

DCF Fair Value

$203.60

+101% upside

EPS: $2.46

Target P/E: 95×

Formula: EPS × P/E

P/E Fair Value

$233.70

+131% upside

100.0% held by institutions

Institution	Shares	Value	Ownership %	Change	Filing Date
BlackRock, Inc.	11.28M	$1.02B	13.60%	+745.5K	2026-06-30
Wasatch Advisors LP	7.96M	$719.0M	9.60%	+757.8K	2026-06-30
Morgan Stanley	4.55M	$410.0M	5.48%	+2.06M	2026-06-30
Vanguard Portfolio Management LLC	4.06M	$366.0M	4.89%	-106.0K	2026-06-30
Vanguard Capital Management LLC	3.64M	$328.0M	4.39%	-183.0K	2026-06-30
State Street Corp	3.24M	$292.0M	3.91%	+141.1K	2026-06-30
Geode Capital Management, LLC	2.37M	$214.0M	2.86%	+114.8K	2026-06-30
AQR Capital Management LLC	2.00M	$176.0M	2.41%	-93.0K	2026-06-30
Dimensional Fund Advisors LP	1.87M	$168.0M	2.25%	+242.0K	2026-06-30
William Blair Investment Management, LLC	1.77M	$160.0M	2.14%	+113.6K	2026-06-30