HQY P/E ratio: current value, 10-year range and year-by-year history
Cash & Leverage
HQY's p/e ratio is lower than 65% of the last 10 years.
P/E ratio History
HQY P/E ratio by year
Yearly range of HQY’s p/e ratio from 2016 to 2026. Over the full period it ranged from -1,022.4 to 6,030.1, averaging 288.2.
| Year | Low | Average | High | Year-end |
|---|---|---|---|---|
| 2026 | 29.8 | 34.4 | 45.2 | 36.6 |
| 2025 | 42.0 | 68.9 | 104.6 | 42.0 |
| 2024 | 56.7 | 101.8 | 229.3 | 87.7 |
| 2023 | -661.8 | -43.2 | 514.0 | 196.4 |
| 2022 | -762.1 | -145.4 | -77.1 | -88.1 |
| 2021 | -1,022.4 | 1,863.7 | 6,030.1 | -650.6 |
| 2020 | -224.4 | 760.6 | 2,475.1 | 1,538.9 |
| 2019 | 36.9 | 55.7 | 89.0 | 86.1 |
| 2018 | 51.3 | 81.4 | 99.3 | 56.3 |
| 2017 | 59.0 | 83.8 | 113.0 | 63.1 |
| 2016 | 71.4 | 92.3 | 103.8 | 94.2 |
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How much the market pays for each dollar of annual profit. P/E = Stock Price / EPS. The raw number means little — what matters is whether it's high or low relative to the company's own history.
Price / Earnings Per ShareThe chart shows five color-coded historical zones: green (below 10th percentile) means historically very cheap, fading through lime and gray (the normal 25th–75th range) to orange and red (historically expensive). When the line sits in a green or lime zone, the stock is trading at an unusually low P/E relative to its own history.
- Cyclical businesses look cheapest on P/E at peak earnings — the "earnings trap." Use EV/EBITDA or normalised earnings for energy, materials, and financials.
- A falling P/E trend may signal a business in structural decline, not a buying opportunity.
Is HQY P/E ratio High or Low Right Now?
HealthEquity, Inc.'s P/E ratio is currently 36.6, which is below average relative to its 10-year historical range. The 10-year median P/E ratio for HQY is approximately 71.4. See all HQY valuation metrics →
Unlock 10y, 15y, 20y, and 30y history with peer comparison and CSV export.