Company / Operating Margin
HealthEquity Operating Margin History
FY2017-FY2026 · Annual data · Source: SEC filings
At a glance
Latest annual filing availableLatest Operating Margin
11.8%
FY2026
5-year range
11.8% / 24.6%
FY2022-FY2026
Trend
-52.1%
vs FY2025
Sector context
#49 of 148
Health Care
What the data says
At 11.8%, HealthEquity's operating margin ranks #49 of 148 in the Health Care sector. Operating Margin has fluctuated over the past 10 years, ranging from 4.6% in FY2020 to 98.2% in FY2017.
Based on SEC 10-K filings.
11.8% in FY2026 with a 5-year CAGR of -15.3%.
Declined from 13.5% to 11.8% over the past 2 years.
Health Care sector context is included.
Operating Margin over time
Growth rates
- 3-Year Change
- +0.0pp
- 5-Year Change
- -15.3pp
- 10-Year Change
- -
Sector benchmark
#49 of 148 in Health CareTop 33% of 148This company 11.8% Sector average -284.8%
▼
+104.1% above sector average
Key checks
Key Insights
- In FY2026, operating margin decreased 52.1% year-over-year.
- Currently 296.5pp above the Health Care sector average.
- Peak operating margin was recorded in FY2017.
- Lowest operating margin in the period was in FY2020.
Company context
Key Data Points
- Altman Z-Score 1.18 (distress zone, below 1.8 threshold)
- High earnings quality (cash-backed earnings)
Data sourced from SEC EDGAR filings. Not investment advice.
Annual data
| Year | Operating MarginValue | YoY GrowthYoY |
|---|---|---|
| FY2026 | 11.8% | -52.1% |
| FY2025 | 24.6% | +81.4% |
| FY2024 | 13.5% | +15.0% |
| FY2023 | 11.8% | -18.7% |
| FY2022 | 14.5% | -46.4% |
| FY2021 | 27.0% | +482.8% |
| FY2020 | 4.6% | -68.0% |
| FY2019 | 14.5% | -46.4% |
| FY2018 | 27.0% | -72.5% |
| FY2017 | 98.2% | +325.1% |
As of FY2026 · SEC 10-K · Updated Jun 30, 2026