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HQY - HealthEquity, Inc.

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HealthEquity, Inc.

HQY

NASDAQ

HealthEquity, Inc. provides technology-enabled services platforms to consumers and employers in the United States. The company offers cloud-based platforms for individuals to make health saving and spending decisions, pay healthcare bills, compare treatment options and prices, receive personalized benefit and clinical information, earn wellness incentives, grow their savings, and make investment choices; and health savings accounts. It also provides mutual fund investment platform; and online-only automated investment advisory services through Advisor, a Web-based tool. In addition, the company offers flexible spending accounts; health reimbursement arrangements; and Consolidated Omnibus Budget Reconciliation Act continuation services, as well as administers pre-tax commuter benefit programs. It serves clients through a direct sales force; benefits brokers and advisors; and a network of health plans, benefits administrators, benefits brokers and consultants, and retirement plan record-keepers. The company was incorporated in 2002 and is headquartered in Draper, Utah.

86.08 USD

2.63 (3.06%)

Operating Data

Year

2021

2022

2023

2024

2025

2026

2027

2028

2029

2030

Revenue

733.57M

756.56M

861.75M

999.59M

1.2B

1.36B

1.54B

1.74B

1.97B

2.24B

Revenue %

-

3.13

13.9

16

20.03

13.26

13.26

13.26

13.26

Ebitda

154.93M

102.97M

171.53M

282.42M

339.12M

302.1M

342.17M

387.56M

438.97M

497.2M

Ebitda %

21.12

13.61

19.9

28.25

28.27

22.23

22.23

22.23

22.23

Ebit

39.02M

-34.22M

10.33M

129.34M

176.67M

80.61M

91.3M

103.41M

117.13M

132.67M

Ebit %

5.32

-4.52

1.2

12.94

14.73

5.93

5.93

5.93

5.93

Depreciation

115.9M

137.19M

161.2M

153.08M

162.45M

221.49M

250.87M

284.15M

321.84M

364.53M

Depreciation %

15.8

18.13

18.71

15.31

13.54

16.3

16.3

16.3

16.3

Balance Sheet

Year

2021

2022

2023

2024

2025

2026

2027

2028

2029

2030

Total Cash

328.8M

225.41M

254.27M

403.98M

295.95M

459.87M

520.87M

589.97M

668.23M

756.87M

Total Cash %

44.82

29.79

29.51

40.41

24.67

33.84

33.84

33.84

33.84

Receivables

72.77M

87.43M

96.83M

104.89M

118.01M

144.16M

163.28M

184.94M

209.47M

237.26M

Receivables %

9.92

11.56

11.24

10.49

9.84

10.61

10.61

10.61

10.61

Inventories

-

-

1

-

-

0.32

0.36

0.4

0.46

0.52

Inventories %

-

-

0

-

-

0

0

0

0

Payable

1.61M

27.54M

13.9M

12.04M

14.36M

21.4M

24.24M

27.46M

31.1M

35.22M

Payable %

0.22

3.64

1.61

1.2

1.2

1.57

1.57

1.57

1.57

Cap Ex

-96.96M

-137.08M

-119.13M

-46.07M

-2.08M

-135.74M

-153.75M

-174.14M

-197.24M

-223.4M

Cap Ex %

-13.22

-18.12

-13.82

-4.61

-0.17

-9.99

-9.99

-9.99

-9.99

Weighted Average Cost Of Capital

Price

86.08

Beta

Diluted Shares Outstanding

88.83M

Costof Debt

116.11

Tax Rate

After Tax Cost Of Debt

96.77

Risk Free Rate

Market Risk Premium

Cost Of Equity

Total Debt

52.22M

Total Equity

7.65B

Total Capital

7.7B

Debt Weighting

0.68

Equity Weighting

99.32

Wacc

6.88

Build Up Free Cash Flow

Year

2021

2022

2023

2024

2025

2026

2027

2028

2029

2030

Revenue

733.57M

756.56M

861.75M

999.59M

1.2B

1.36B

1.54B

1.74B

1.97B

2.24B

Ebitda

154.93M

102.97M

171.53M

282.42M

339.12M

302.1M

342.17M

387.56M

438.97M

497.2M

Ebit

39.02M

-34.22M

10.33M

129.34M

176.67M

80.61M

91.3M

103.41M

117.13M

132.67M

Tax Rate

16.66

16.66

16.66

16.66

16.66

16.66

16.66

16.66

16.66

16.66

Ebiat

83.26M

-22.71M

7.09M

96.02M

147.24M

63.29M

71.68M

81.19M

91.96M

104.16M

Depreciation

115.9M

137.19M

161.2M

153.08M

162.45M

221.49M

250.87M

284.15M

321.84M

364.53M

Receivables

72.77M

87.43M

96.83M

104.89M

118.01M

144.16M

163.28M

184.94M

209.47M

237.26M

Inventories

-

-

1

-

-

0.32

0.36

0.4

0.46

0.52

Payable

1.61M

27.54M

13.9M

12.04M

14.36M

21.4M

24.24M

27.46M

31.1M

35.22M

Cap Ex

-96.96M

-137.08M

-119.13M

-46.07M

-2.08M

-135.74M

-153.75M

-174.14M

-197.24M

-223.4M

Ufcf

31.05M

-11.33M

26.11M

193.11M

296.81M

129.92M

152.52M

172.75M

195.67M

221.63M

Wacc

6.88

6.88

6.88

6.88

6.88

Pv Ufcf

121.56M

133.52M

141.49M

149.95M

158.9M

Sum Pv Ufcf

705.45M

Terminal Value

Growth In Perpetuity Method

Long Term Growth Rate

Wacc

6.88

Free Cash Flow T1

230.49M

Terminal Value

8.01B

Present Terminal Value

5.74B

Intrinsic Value

Enterprise Value

6.45B

Net Debt

-243.73M

Equity Value

6.69B

Diluted Shares Outstanding

88.83M

Equity Value Per Share

75.31

Projected DCF

75.31 -0.143%

DCF Levered

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