Company Valuation: HealthEquity, Inc.

Data adjusted to current consolidation scope
Fiscal Period: January 2020 2021 2022 2023 2024 2025 2026 2027
Capitalization 1 4,682 6,433 4,468 5,150 6,485 8,694 - -
Change - 37.38% -30.55% 15.28% 25.91% 34.07% - -
Enterprise Value (EV) 1 5,711 7,090 5,173 5,821 6,956 9,388 9,070 8,674
Change - 24.15% -27.04% 12.53% 19.49% 34.97% -3.39% -4.37%
P/E ratio 114x 696x -101x -196x 118x 90.8x 56.7x 39.2x
PBR 4.56x 4.68x 2.42x 2.72x 3.2x 3.97x 3.66x -
PEG - -8.8x 0x 4.7x -0x 1.3x 0.9x 0.9x
Capitalization / Revenue 8.8x 8.77x 5.91x 5.98x 6.49x 7.29x 6.71x 6x
EV / Revenue 10.7x 9.67x 6.84x 6.76x 6.96x 7.87x 7x 5.99x
EV / EBITDA 29.1x 29.4x 21.9x 21.4x 18.8x 19.6x 16.7x 13.5x
EV / EBIT 74.2x 198x -213x 643x 59.1x 55.6x 36.5x 26.4x
EV / FCF 79.2x 60.6x 39.2x 55.2x 28.8x 31.8x 22.6x 18.5x
FCF Yield 1.26% 1.65% 2.55% 1.81% 3.47% 3.14% 4.43% 5.41%
Dividend per Share 2 - - - - - - - -
Rate of return - - - - - - - -
EPS 2 0.58 0.12 -0.53 -0.31 0.64 1.105 1.769 2.561
Distribution rate - - - - - - - -
Net sales 1 532 733.6 756.6 861.7 999.6 1,193 1,296 1,448
EBITDA 1 196.5 240.8 236 272.3 369.2 477.8 543.1 641.5
EBIT 1 77.01 35.75 -24.24 9.057 117.7 168.7 248.7 328.1
Net income 1 39.66 8.834 -44.29 -26.14 55.71 99.61 156.9 225.7
Net Debt 1 1,029 657.9 705.4 671.1 471 694.3 376.3 -20.38
Reference price 2 66.06 83.55 53.44 60.85 75.58 100.32 100.32 100.32
Nbr of stocks (in thousands) 70,879 76,991 83,601 84,640 85,801 86,663 - -
Announcement Date 3/16/20 3/15/21 3/22/22 3/21/23 3/19/24 - - -
1USD in Million2USD
Estimates

P/E ratio, Detailed evolution

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P/E ratio (Y) EV / Sales EV / EBITDA Yield (Y) Capi. ($)
90.83x7.87x19.65x-.--%8.69B
32.12x10.99x20.34x+0.78%3,115B
314.67x53x135.8x-.--%153B
78.39x17.64x38.4x+0.35%82B
47.37x10.42x24.33x-.--%76.14B
-181.82x11.9x49.48x-.--%63.13B
122.43x3.47x29.67x-.--%62.2B
37.77x6.93x19.53x+0.73%45.53B
-663.61x199.37x-676.59x-.--%41.53B
-39.52x9.11x52.05x-.--%40.57B
Average -16.14x 33.07x -28.73x +0.19% 368.79B
Weighted average by Cap. 34.65x 14.80x 18.77x +0.67%
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Year-on-year evolution of the PER

evolution-chart HEALTHEQUITY-INC

Historical PBR trend

evolution-chart HEALTHEQUITY-INC

Evolution Enterprise Value / Sales

evolution-chart HEALTHEQUITY-INC

Change in Enterprise Value/EBITDA

evolution-chart HEALTHEQUITY-INC

Year-on-year evolution of the Yield

evolution-chart HEALTHEQUITY-INC
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