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HEALTHEQUITY, INC.（HQY）与Progyny, Inc.（PGNY）财务数据对比。点击上方公司名可切换其他公司
HEALTHEQUITY, INC.的季度营收约是Progyny, Inc.的1.0倍（$322.2M vs $318.4M），HEALTHEQUITY, INC.净利率更高（16.0% vs 3.9%，领先12.1%），HEALTHEQUITY, INC.同比增速更快（7.2% vs 6.7%），HEALTHEQUITY, INC.自由现金流更多（$137.8M vs $48.6M），过去两年HEALTHEQUITY, INC.的营收复合增速更高（10.8% vs 7.0%）
HealthEquity, Inc.是美国一家金融科技及商业服务企业，拥有美国国税局授予的非银行类健康储蓄受托人资质，无论用户资金存入哪家金融机构，该公司均可作为对应健康储蓄账户的托管方，提供专业账户管理服务。
Progyny, Inc.是总部位于美国的领先生育与家庭构建福利服务商，主要与企业雇主合作，提供试管婴儿、生育力保存、收养协助、代孕支持等综合生育相关福利方案，覆盖多个行业的雇员群体。
HQY vs PGNY — 直观对比
营收规模更大
HQY
是对方的1.0倍
$318.4M
营收增速更快
HQY
高出0.5%
6.7%
净利率更高
HQY
高出12.1%
3.9%
自由现金流更多
HQY
多$89.2M
$48.6M
两年增速更快
HQY
近两年复合增速
7.0%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $322.2M | $318.4M |
| 净利润 | $51.7M | $12.5M |
| 毛利率 | 70.8% | 24.1% |
| 营业利润率 | 24.4% | 4.8% |
| 净利率 | 16.0% | 3.9% |
| 营收同比 | 7.2% | 6.7% |
| 净利润同比 | 806.4% | 18.5% |
| 每股收益（稀释后） | $0.59 | $0.14 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收HQYPGNY
| Q4 25 | $322.2M | $318.4M | ||
| Q3 25 | $325.8M | $313.3M | ||
| Q2 25 | $330.8M | $332.9M | ||
| Q1 25 | $311.8M | $324.0M | ||
| Q4 24 | $300.4M | $298.4M | ||
| Q3 24 | $299.9M | $286.6M | ||
| Q2 24 | $287.6M | $304.1M | ||
| Q1 24 | $262.4M | $278.1M |
净利润HQYPGNY
| Q4 25 | $51.7M | $12.5M | ||
| Q3 25 | $59.9M | $13.9M | ||
| Q2 25 | $53.9M | $17.1M | ||
| Q1 25 | $26.4M | $15.1M | ||
| Q4 24 | $5.7M | $10.5M | ||
| Q3 24 | $35.8M | $10.4M | ||
| Q2 24 | $28.8M | $16.5M | ||
| Q1 24 | $26.4M | $16.9M |
毛利率HQYPGNY
| Q4 25 | 70.8% | 24.1% | ||
| Q3 25 | 71.4% | 23.2% | ||
| Q2 25 | 67.8% | 23.7% | ||
| Q1 25 | 60.6% | 23.4% | ||
| Q4 24 | 65.6% | 21.3% | ||
| Q3 24 | 68.0% | 20.7% | ||
| Q2 24 | 65.1% | 22.5% | ||
| Q1 24 | 63.1% | 22.4% |
营业利润率HQYPGNY
| Q4 25 | 24.4% | 4.8% | ||
| Q3 25 | 27.5% | 6.9% | ||
| Q2 25 | 25.1% | 7.3% | ||
| Q1 25 | 13.5% | 7.5% | ||
| Q4 24 | 6.5% | 5.3% | ||
| Q3 24 | 19.6% | 4.3% | ||
| Q2 24 | 14.5% | 6.8% | ||
| Q1 24 | 14.8% | 6.7% |
净利率HQYPGNY
| Q4 25 | 16.0% | 3.9% | ||
| Q3 25 | 18.4% | 4.4% | ||
| Q2 25 | 16.3% | 5.1% | ||
| Q1 25 | 8.5% | 4.6% | ||
| Q4 24 | 1.9% | 3.5% | ||
| Q3 24 | 11.9% | 3.6% | ||
| Q2 24 | 10.0% | 5.4% | ||
| Q1 24 | 10.0% | 6.1% |
每股收益（稀释后）HQYPGNY
| Q4 25 | $0.59 | $0.14 | ||
| Q3 25 | $0.68 | $0.15 | ||
| Q2 25 | $0.61 | $0.19 | ||
| Q1 25 | $0.30 | $0.17 | ||
| Q4 24 | $0.06 | $0.12 | ||
| Q3 24 | $0.40 | $0.11 | ||
| Q2 24 | $0.33 | $0.17 | ||
| Q1 24 | $0.30 | $0.17 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $309.3M | $112.2M |
| 总债务越低越好 | $982.1M | — |
| 股东权益账面价值 | $2.1B | $516.0M |
| 总资产 | $3.4B | $742.4M |
| 负债/权益比越低杠杆越低 | 0.46× | — |
8季度趋势，按日历期对齐
现金及短期投资HQYPGNY
| Q4 25 | $309.3M | $112.2M | ||
| Q3 25 | $304.5M | $134.0M | ||
| Q2 25 | $287.9M | $132.5M | ||
| Q1 25 | $295.9M | $109.2M | ||
| Q4 24 | $322.2M | $162.3M | ||
| Q3 24 | $326.9M | $91.5M | ||
| Q2 24 | $251.2M | $95.0M | ||
| Q1 24 | $404.0M | $115.0M |
总债务HQYPGNY
| Q4 25 | $982.1M | — | ||
| Q3 25 | $1.0B | — | ||
| Q2 25 | $1.1B | — | ||
| Q1 25 | $1.1B | — | ||
| Q4 24 | $1.1B | — | ||
| Q3 24 | $1.1B | — | ||
| Q2 24 | $925.7M | — | ||
| Q1 24 | $875.0M | — |
股东权益HQYPGNY
| Q4 25 | $2.1B | $516.0M | ||
| Q3 25 | $2.1B | $560.0M | ||
| Q2 25 | $2.1B | $515.0M | ||
| Q1 25 | $2.1B | $467.2M | ||
| Q4 24 | $2.1B | $422.1M | ||
| Q3 24 | $2.2B | $434.9M | ||
| Q2 24 | $2.1B | $456.2M | ||
| Q1 24 | $2.0B | $571.6M |
总资产HQYPGNY
| Q4 25 | $3.4B | $742.4M | ||
| Q3 25 | $3.4B | $795.2M | ||
| Q2 25 | $3.4B | $761.0M | ||
| Q1 25 | $3.4B | $730.3M | ||
| Q4 24 | $3.5B | $607.1M | ||
| Q3 24 | $3.5B | $660.0M | ||
| Q2 24 | $3.2B | $698.6M | ||
| Q1 24 | $3.2B | $794.3M |
负债/权益比HQYPGNY
| Q4 25 | 0.46× | — | ||
| Q3 25 | 0.47× | — | ||
| Q2 25 | 0.50× | — | ||
| Q1 25 | 0.50× | — | ||
| Q4 24 | 0.51× | — | ||
| Q3 24 | 0.51× | — | ||
| Q2 24 | 0.44× | — | ||
| Q1 24 | 0.43× | — |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $138.6M | $54.2M |
| 自由现金流经营现金流 - 资本支出 | $137.8M | $48.6M |
| 自由现金流率自由现金流/营收 | 42.8% | 15.3% |
| 资本支出强度资本支出/营收 | 0.2% | 1.8% |
| 现金转化率经营现金流/净利润 | 2.68× | 4.34× |
| 过去12个月自由现金流最近4个季度 | $413.0M | $191.8M |
8季度趋势，按日历期对齐
经营现金流HQYPGNY
| Q4 25 | $138.6M | $54.2M | ||
| Q3 25 | $135.9M | $50.7M | ||
| Q2 25 | $64.7M | $55.5M | ||
| Q1 25 | $75.7M | $49.8M | ||
| Q4 24 | $90.5M | $52.2M | ||
| Q3 24 | $108.1M | $44.5M | ||
| Q2 24 | $65.4M | $56.7M | ||
| Q1 24 | $77.1M | $25.7M |
自由现金流HQYPGNY
| Q4 25 | $137.8M | $48.6M | ||
| Q3 25 | $135.1M | $46.0M | ||
| Q2 25 | $64.7M | $50.2M | ||
| Q1 25 | $75.4M | $47.0M | ||
| Q4 24 | $90.3M | $50.3M | ||
| Q3 24 | $107.4M | $42.7M | ||
| Q2 24 | $64.7M | $55.8M | ||
| Q1 24 | $76.5M | $24.9M |
自由现金流率HQYPGNY
| Q4 25 | 42.8% | 15.3% | ||
| Q3 25 | 41.5% | 14.7% | ||
| Q2 25 | 19.5% | 15.1% | ||
| Q1 25 | 24.2% | 14.5% | ||
| Q4 24 | 30.0% | 16.8% | ||
| Q3 24 | 35.8% | 14.9% | ||
| Q2 24 | 22.5% | 18.4% | ||
| Q1 24 | 29.2% | 8.9% |
资本支出强度HQYPGNY
| Q4 25 | 0.2% | 1.8% | ||
| Q3 25 | 0.2% | 1.5% | ||
| Q2 25 | 0.0% | 1.6% | ||
| Q1 25 | 0.1% | 0.9% | ||
| Q4 24 | 0.1% | 0.6% | ||
| Q3 24 | 0.2% | 0.6% | ||
| Q2 24 | 0.3% | 0.3% | ||
| Q1 24 | 0.2% | 0.3% |
现金转化率HQYPGNY
| Q4 25 | 2.68× | 4.34× | ||
| Q3 25 | 2.27× | 3.65× | ||
| Q2 25 | 1.20× | 3.24× | ||
| Q1 25 | 2.87× | 3.31× | ||
| Q4 24 | 15.88× | 4.95× | ||
| Q3 24 | 3.02× | 4.27× | ||
| Q2 24 | 2.27× | 3.44× | ||
| Q1 24 | 2.92× | 1.52× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
HQY
| Financial Service Other | $159.1M | 49% |
| Services | $120.3M | 37% |
| Credit And Debit Card | $42.8M | 13% |
PGNY
| Fertility Benefit Services | $208.6M | 66% |
| Pharmacy Benefit Services | $109.8M | 34% |
