WallStSmart

HealthEquity Inc (HQY)vsNational Research Corp (NRC)

VS

Smart Verdict

WallStSmart Research — data-driven comparison

HealthEquity Inc generates 856% more annual revenue ($1.31B vs $137.39M). HQY leads profitability with a 16.4% profit margin vs 8.4%. HQY trades at a lower P/E of 33.4x. HQY earns a higher WallStSmart Score of 68/100 (B-).

HQY

Strong Buy

68

out of 100

Grade: B-

Growth: 8.0Profit: 7.0Value: 10.0Quality: 6.5
Piotroski: 4/9

NRC

Hold

42

out of 100

Grade: D

Growth: 2.0Profit: 8.5Value: 5.7Quality: 5.0
IV

Intrinsic Value Comparison

Multi-model valuation · Graham Formula

HQYUndervalued (+33.2%)

Margin of Safety

+33.2%

Fair Value

$115.13

Current Price

$82.47

$32.66 discount

UndervaluedFair: $115.13Overvalued
NRCSignificantly Overvalued (-304.4%)

Margin of Safety

-304.4%

Fair Value

$3.40

Current Price

$17.18

$13.78 premium

UndervaluedFair: $3.40Overvalued

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

HQY3 strengths · Avg: 8.7/10
EPS GrowthGrowth
92.4%10/10

Earnings expanding 92.4% YoY

PEG RatioValuation
0.898/10

Growing faster than its price suggests

Operating MarginProfitability
21.6%8/10

Strong operational efficiency at 21.6%

NRC2 strengths · Avg: 10.0/10
Return on EquityProfitability
51.2%10/10

Every $100 of equity generates 51 in profit

Operating MarginProfitability
32.2%10/10

Strong operational efficiency at 32.2%

Areas to Watch

HQY1 concerns · Avg: 4.0/10
P/E RatioValuation
33.4x4/10

Premium valuation, high expectations priced in

NRC4 concerns · Avg: 2.8/10
P/E RatioValuation
35.0x4/10

Premium valuation, high expectations priced in

Market CapQuality
$398.29M3/10

Smaller company, higher risk/reward

Price/BookValuation
27.7x2/10

Trading at 27.7x book value

Revenue GrowthGrowth
-4.6%2/10

Revenue declined 4.6%

Comparative Analysis Report

WallStSmart Research

Bull Case : HQY

The strongest argument for HQY centers on EPS Growth, PEG Ratio, Operating Margin. Profitability is solid with margins at 16.4% and operating margin at 21.6%. PEG of 0.89 suggests the stock is reasonably priced for its growth.

Bull Case : NRC

The strongest argument for NRC centers on Return on Equity, Operating Margin.

Bear Case : HQY

The primary concerns for HQY are P/E Ratio.

Bear Case : NRC

The primary concerns for NRC are P/E Ratio, Market Cap, Price/Book.

Key Dynamics to Monitor

HQY profiles as a mature stock while NRC is a value play — different risk/reward profiles.

NRC carries more volatility with a beta of 0.58 — expect wider price swings.

HQY is growing revenue faster at 7.3% — sustainability is the question.

HQY generates stronger free cash flow (102M), providing more financial flexibility.

Bottom Line

HQY scores higher overall (68/100 vs 42/100), backed by strong 16.4% margins. 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.

National Research Corp

HEALTHCARE · HEALTH INFORMATION SERVICES · USA

National Research Corporation provides analytics and information that make it easy to measure and improve the patient and employee experience in the United States and Canada. The company is headquartered in Lincoln, Nebraska.

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