WallStSmart

HealthEquity Inc (HQY)vsR1 RCM Inc (RCM)

VS

Smart Verdict

WallStSmart Research — data-driven comparison

R1 RCM Inc generates 84% more annual revenue ($2.46B vs $1.34B). HQY leads profitability with a 17.2% profit margin vs -2.5%. HQY appears more attractively valued with a PEG of 1.44. HQY earns a higher WallStSmart Score of 66/100 (B-).

HQY

Strong Buy

66

out of 100

Grade: B-

Growth: 8.0Profit: 7.5Value: 6.7Quality: 8.0
Piotroski: 7/9Altman Z: 1.86

RCM

Hold

39

out of 100

Grade: F

Growth: 6.0Profit: 3.0Value: 5.7Quality: 6.0
Piotroski: 6/9Altman Z: 1.34
IV

Intrinsic Value Comparison

Multi-model valuation · Graham Formula

HQYUndervalued (+57.6%)

Margin of Safety

+57.6%

Fair Value

$181.42

Current Price

$104.63

$76.79 discount

UndervaluedFair: $181.42Overvalued
RCMUndervalued (+26.6%)

Margin of Safety

+26.6%

Fair Value

$19.49

Current Price

$14.31

$5.18 discount

UndervaluedFair: $19.49Overvalued

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

HQY2 strengths · Avg: 8.0/10
Operating MarginProfitability
29.3%8/10

Strong operational efficiency at 29.3%

EPS GrowthGrowth
34.4%8/10

Earnings expanding 34.4% YoY

RCM1 strengths · Avg: 8.0/10
Price/BookValuation
2.1x8/10

Reasonable price relative to book value

Areas to Watch

HQY2 concerns · Avg: 4.0/10
P/E RatioValuation
37.7x4/10

Premium valuation, high expectations priced in

Altman Z-ScoreHealth
1.864/10

Grey zone — moderate risk

RCM4 concerns · Avg: 2.8/10
PEG RatioValuation
2.064/10

Expensive relative to growth rate

Operating MarginProfitability
3.8%3/10

Operating margin of 3.8%

Return on EquityProfitability
-2.2%2/10

ROE of -2.2% — below average capital efficiency

EPS GrowthGrowth
-99.3%2/10

Earnings declined 99.3%

Comparative Analysis Report

WallStSmart Research

Bull Case : HQY

The strongest argument for HQY centers on Operating Margin, EPS Growth. Profitability is solid with margins at 17.2% and operating margin at 29.3%. PEG of 1.44 suggests the stock is reasonably priced for its growth.

Bull Case : RCM

The strongest argument for RCM centers on Price/Book. Revenue growth of 14.7% demonstrates continued momentum.

Bear Case : HQY

The primary concerns for HQY are P/E Ratio, Altman Z-Score.

Bear Case : RCM

The primary concerns for RCM are PEG Ratio, Operating Margin, Return on Equity.

Key Dynamics to Monitor

HQY profiles as a mature stock while RCM is a turnaround play — different risk/reward profiles.

RCM carries more volatility with a beta of 0.84 — expect wider price swings.

RCM is growing revenue faster at 14.7% — sustainability is the question.

HQY generates stronger free cash flow (97M), providing more financial flexibility.

Bottom Line

HQY scores higher overall (66/100 vs 39/100), backed by strong 17.2% margins. RCM offers better value entry with a 26.6% margin of safety. Both earn "Strong Buy" and "Hold" ratings respectively — the choice depends on your investment horizon and risk tolerance.

This analysis is generated from publicly available financial data. Not financial advice.

HealthEquity Inc

HEALTHCARE · HEALTH INFORMATION SERVICES · USA

HealthEquity, Inc. provides technology-enabled service platforms to consumers and employers in the United States. The company is headquartered in Draper, Utah.

R1 RCM Inc

HEALTHCARE · HEALTH INFORMATION SERVICES · USA

R1 RCM Inc (RCM) stands out as a leading provider of technology-driven revenue cycle management solutions, specifically designed to enhance the financial performance of healthcare organizations across the United States. Leveraging cutting-edge analytics and deep industry insights, R1 RCM optimizes billing processes and boosts operational efficiency for hospitals and outpatient facilities. By maximizing revenue capture while improving patient experiences, the company solidifies its position within a rapidly evolving healthcare landscape. With strategic initiatives aimed at expanding its service offerings and increasing market presence, R1 RCM is poised for sustained growth and a competitive edge in the increasingly complex revenue cycle management sector.

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