HealthEquity Inc (HQY)

Debt-to-assets ratio

		Jan 31, 2025	Oct 31, 2024	Jul 31, 2024	Apr 30, 2024	Jan 31, 2024	Oct 31, 2023	Jul 31, 2023	Apr 30, 2023	Jan 31, 2023	Oct 31, 2022	Jul 31, 2022	Apr 30, 2022	Jan 31, 2022	Oct 31, 2021	Jul 31, 2021	Apr 30, 2021	Jan 31, 2021	Oct 31, 2020	Jul 31, 2020	Apr 30, 2020
Long-term debt	US$ in thousands	1,056,300	1,081,040	1,101,400	925,675	874,972	874,270	873,581	872,902	907,838	911,406	914,966	918,514	922,077	923,501	895,449	909,820	924,217	938,558	952,898	1,167,190
Total assets	US$ in thousands	3,448,550	3,488,350	3,514,470	3,246,480	3,163,790	3,093,500	3,066,460	3,035,010	3,088,900	3,064,760	3,074,020	3,065,070	3,107,100	3,099,610	3,148,630	3,161,870	2,710,410	2,657,260	2,664,380	2,562,480
Debt-to-assets ratio		0.31	0.31	0.31	0.29	0.28	0.28	0.28	0.29	0.29	0.30	0.30	0.30	0.30	0.30	0.28	0.29	0.34	0.35	0.36	0.46

January 31, 2025 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $1,056,300K ÷ $3,448,550K
= 0.31

HealthEquity Inc's debt-to-assets ratio has shown a decreasing trend over the past few years, indicating a strengthening financial position in terms of solvency and leverage. The ratio decreased from 0.46 as of April 30, 2020, to 0.31 as of January 31, 2025. This suggests that the company has been effectively managing its debt levels in relation to its total assets, becoming less reliant on debt financing over the period analyzed. A decreasing debt-to-assets ratio typically signifies lower financial risk, as it represents the proportion of a company's assets financed by debt. Overall, the trend in HealthEquity Inc's debt-to-assets ratio reflects a positive financial performance in terms of debt management and capital structure.