Healthequity vs Progyny
Healthequity and Progyny are similar in size: $1.31bn and $1.29bn of revenue in their latest fiscal years. Progyny grew faster (10.4% against 9.5%). Healthequity kept more of each dollar of sales as profit: a net margin of 16.4% against 4.5%.
| Latest fiscal year | HealthequityHQY, 2026 | ProgynyPGNY, 2025 |
|---|---|---|
| Revenue | $1.31bn | $1.29bn |
| Revenue growth | 9.5% | 10.4% |
| Net income | $215m | $58.5m |
| Operating margin | 24.6% | — |
| Net margin | 16.4% | 4.5% |
| Return on equity | 10.2% | 12.5% |
| Free cash flow | $455m | $192m |
| Cash | $319m | $112m |
| Total debt | $957m | $0 |
| Debt to equity | 45.4% | — |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | $299m | $81.7m |
| Employees | 2,814 | 1,000 |
| Market value | $8.52bn | $2.25bn |
| Price vs our value range | Within our value range | Within our value range |
| Moat score | 64 (Moderate) | 43 (Weak) |
| Insider trades, 12 months | 2 buys, 13 sales | 1 buys, 25 sales |