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HealthEquityFRA:2HE 93 PB Ratio is 3.93 as of Jul. 17, 2026, which is 4% above its 10-year median of 3.79. GuruFocus rates FRA:2HE with a GF Score™ of 93/100 and a GF Value™ of €86.02. The stock has 3 warning signs investors should review. Among 610 Healthcare Providers & Services companies, HealthEquity ranks worse than 75.25% on this metric.
The PB Ratio, or Price-to-Book ratio, or Price/Book, is a financial ratio used to compare a company's market price to its Book Value per Share. As of today (2026-07-17), HealthEquity's share price is €82.00. HealthEquity's Book Value per Share for the quarter that ended in Apr. 2026 was €20.86. Hence, HealthEquity's PB Ratio of today is 3.93.
Warning Sign:
HealthEquity Inc stock PB Ratio (=4.05) is close to 1-year high of 4.22.
The historical rank and industry rank for HealthEquity's PB Ratio or its related term are showing as below:
FRA:2HE'
s PB Ratio Range Over the Past 10 Years
Min: 1.81 Med: 3.79 Max: 13.97
Current: 4.05
During the past 13 years, HealthEquity's highest PB Ratio was 13.97. The lowest was 1.81. And the median was 3.79.
FRA:2HE's PB Ratio is ranked worse than 75.25% of 610
companies
in the Healthcare Providers & Services industry
Industry Median: 2.025
vs FRA:2HE: 4.05
During the past 12 months, HealthEquity's average Book Value Per Share Growth Rate was -0.40% per year.
During the past 3 years, the average Book Value Per Share Growth Rate was 3.50% per year.
During the past 5 years, the average Book Value Per Share Growth Rate was 5.90% per year.
During the past 10 years, the average Book Value Per Share Growth Rate was 23.80% per year.
During the past 13 years, the highest 3-Year average Book Value Per Share Growth Rate of HealthEquity was 48.80% per year. The lowest was 3.40% per year. And the median was 29.40% per year.
The PB Ratio works the best for the businesses that earn most of their profit from their assets, e.g. banks and insurance companies.
Be Aware
Some businesses have very light assets, such as software companies or insurance agencies. The PB Ratio does not work well for these companies. Some companies even have negative equity, so the PB Ratio cannot be applied to them.
HealthEquity PB Ratio Related Terms
HealthEquity PB Ratio Historical Data
* Premium members only.
The historical data trend for HealthEquity's PB Ratio can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Health Information Services subindustry, HealthEquity's PB Ratio, along with its competitors' market caps and PB Ratio data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
HealthEquity PB Ratio vs Healthcare Providers & Services Industry
For the Healthcare Providers & Services industry and Healthcare sector, HealthEquity's PB Ratio distribution charts can be found below:
* The bar in red indicates where HealthEquity's PB Ratio falls into.
The PB Ratio, or Price-to-Book ratio, or Price/Book, is a financial ratio used to compare a company's market price to its Book Value per Share. It is a ratio widely used to value stocks.
HealthEquity's PB Ratio for today is calculated as follows:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
It can also be calculated from the numbers for the whole company:
A closely related ratio is called Price-to-Tangible-Book. The difference between Price-to-Tangible-Book and PB Ratio is that book value other than intangibles are used in the calculation.
HealthEquity (FRA:2HE) has a PB Ratio of 3.93 as of Jul. 17, 2026. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on HealthEquity and its competitors. This is near median its historical median of 3.79. Over the past decade, HealthEquity's PB Ratio has ranged from 1.81 to 13.97. According to the industry distribution chart, HealthEquity ranks #459 out of 610 companies in the Healthcare Providers & Services industry, placing it in the top 75.2%.
Is HealthEquity's PB Ratio too high?
HealthEquity's current PB Ratio of 3.93 is near median its 10-year median of 3.79. Over the past 10 years, this metric has ranged from a low of 1.81 to a high of 13.97. The Healthcare Providers & Services industry median PB Ratio is 2.03. HealthEquity's value of 3.93 is 94.1% above this industry median. Based on the distribution chart, HealthEquity ranks #459 out of 610 companies in the Healthcare Providers & Services industry, which is in the bottom quartile relative to peers. Overall, HealthEquity has a GF Score™ of 93/100, reflecting its overall financial health beyond just this single metric.
How does HealthEquity's PB Ratio compare to HNGE and TEM?
According to the Healthcare Providers & Services industry distribution chart, HealthEquity ranks #459 out of 610 companies for PB Ratio. This places HealthEquity in the lower half of its industry. The industry median PB Ratio is 2.03. HealthEquity's value of 3.93 is 94.1% above this benchmark. Historically, HealthEquity's own PB Ratio has ranged from 1.81 to 13.97 over the past decade. While the company's 10-year median is 3.79 vs. the industry median of 2.03, HealthEquity has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good PB Ratio for a Healthcare Providers & Services company?
The median PB Ratio among Healthcare Providers & Services companies is 2.03, based on 610 companies in the industry. Companies in the top quartile (top 25%) have a PB Ratio significantly above this median, while those in the bottom quartile fall well below. However, PB Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. HealthEquity's current PB Ratio of 3.93 is 94.1% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high PB Ratio mean?
A high PB Ratio can signal that a stock is expensive relative to its fundamentals. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on HealthEquity and its competitors. For the Healthcare Providers & Services industry, the median PB Ratio is 2.03 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. HealthEquity's current PB Ratio is 3.93, which is near median its own 10-year median of 3.79. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is HealthEquity stock overvalued right now?
HealthEquity (FRA:2HE) has a current PB Ratio of 3.93. The stock's GF Value™ is €86.02, compared to a current price of €82.00 — trading 4.7% below its estimated fair value. The current PB Ratio is 3.93, which is near median its 10-year median of 3.79 and 94.1% above the Healthcare Providers & Services industry median of 2.03. HealthEquity's overall GF Score™ is 93/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is PB Ratio calculated?
PB Ratio is calculated from a company's financial statements. For HealthEquity (FRA:2HE), the current PB Ratio is 3.93 as of Jul. 17, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is HealthEquity (FRA:2HE) Overvalued in 2026?
Based on GuruFocus' analysis, HealthEquity stock appears to be undervalued.
The current stock price of €82.00 is trading 4.7% below its estimated GF Value™ of €86.02.
Key valuation signals for FRA:2HE:
PB Ratio: 3.93 (near median its 10-year median of 3.79)
GF Value™: €86.02 vs. price of €82.00 (4.7% below fair value)
Industry Position: 94.1% above the Healthcare Providers & Services median (#459 of 610)
No single metric tells the full story. See the FRA:2HE stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
HealthEquity Inc provides solutions that allow consumers to make healthcare saving and spending decisions. It provides payment processing services, personalized benefit information, the ability to earn wellness incentives, and investment advice to grow their tax-advantaged healthcare savings. It manages consumers' tax-advantaged health savings accounts (HSAs) and other consumer-directed benefits (CDBs) offered by employers, including flexible spending accounts and health reimbursement arrangements (FSAs and HRAs), and administers Consolidated Omnibus Budget Reconciliation Act (COBRA), commuter and other benefits. It also provides investment advisory services to customers whose account balances exceed a certain threshold. HealthEquity generates its revenue in the United States.
93GF Score
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