WallStSmart

Doximity Inc (DOCS)vsHealthEquity Inc (HQY)

VS

Smart Verdict

WallStSmart Research — data-driven comparison

HealthEquity Inc generates 107% more annual revenue ($1.34B vs $644.86M). DOCS leads profitability with a 30.4% profit margin vs 17.2%. DOCS appears more attractively valued with a PEG of 0.59. HQY earns a higher WallStSmart Score of 66/100 (B-).

DOCS

Buy

62

out of 100

Grade: C+

Growth: 5.3Profit: 8.5Value: 8.0Quality: 8.5
Piotroski: 3/9Altman Z: 5.39

HQY

Strong Buy

66

out of 100

Grade: B-

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

Intrinsic Value Comparison

Multi-model valuation · Graham Formula

DOCSUndervalued (+49.5%)

Margin of Safety

+49.5%

Fair Value

$51.38

Current Price

$20.07

$31.31 discount

UndervaluedFair: $51.38Overvalued
HQYUndervalued (+49.0%)

Margin of Safety

+49.0%

Fair Value

$150.82

Current Price

$84.61

$66.21 discount

UndervaluedFair: $150.82Overvalued

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

DOCS6 strengths · Avg: 9.2/10
Profit MarginProfitability
30.4%10/10

Keeps 30 of every $100 in revenue as profit

Debt/EquityHealth
0.0110/10

Conservative balance sheet, low leverage

Altman Z-ScoreHealth
5.3910/10

Safe zone — low bankruptcy risk

Return on EquityProfitability
20.6%9/10

Every $100 of equity generates 21 in profit

PEG RatioValuation
0.598/10

Growing faster than its price suggests

Operating MarginProfitability
21.6%8/10

Strong operational efficiency at 21.6%

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

Areas to Watch

DOCS2 concerns · Avg: 2.5/10
Piotroski F-ScoreQuality
3/93/10

Weak financial health signals

EPS GrowthGrowth
-69.0%2/10

Earnings declined 69.0%

HQY2 concerns · Avg: 4.0/10
P/E RatioValuation
33.1x4/10

Premium valuation, high expectations priced in

Altman Z-ScoreHealth
1.864/10

Grey zone — moderate risk

Comparative Analysis Report

WallStSmart Research

Bull Case : DOCS

The strongest argument for DOCS centers on Profit Margin, Debt/Equity, Altman Z-Score. Profitability is solid with margins at 30.4% and operating margin at 21.6%. PEG of 0.59 suggests the stock is reasonably priced for its growth.

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 1.27 suggests the stock is reasonably priced for its growth.

Bear Case : DOCS

The primary concerns for DOCS are Piotroski F-Score, EPS Growth.

Bear Case : HQY

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

Key Dynamics to Monitor

DOCS carries more volatility with a beta of 1.29 — expect wider price swings.

HQY is growing revenue faster at 7.2% — sustainability is the question.

DOCS generates stronger free cash flow (107M), providing more financial flexibility.

Monitor HEALTH INFORMATION SERVICES industry trends, competitive dynamics, and regulatory changes.

Bottom Line

HQY scores higher overall (66/100 vs 62/100), backed by strong 17.2% margins. DOCS offers better value entry with a 49.5% margin of safety. Both earn "Strong Buy" and "Buy" ratings respectively — the choice depends on your investment horizon and risk tolerance.

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

Doximity Inc

HEALTHCARE · HEALTH INFORMATION SERVICES · USA

Doximity, Inc. (Ticker: DOCS) is a U.S. healthcare technology company that operates a digital platform tailored for medical professionals. The company’s cloud-based network provides secure communication and collaboration tools, telemedicine services, clinical workflow solutions, and access to medical news, research, and career-management features for physicians, nurse practitioners, physician assistants, and other clinicians. Headquartered in San Francisco, California, Doximity’s Class A common stock trades on the New York Stock Exchange under the ticker DOCS.

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.

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