Verdict: Side-by-side breakdown using the Bull Rankings model. DOCS scored 70.8, HQY scored 69.2 — DOCS leads.
Compare another set
DOCS
Doximity, Inc.
Health Information Services · Quality-Growth
70.8
$30.50 · $5.4B
fundamentals as of
Score gap
1.6
DOCS leads
HQY
HealthEquity, Inc.
Health Information Services · Quality-Growth
69.2
$92.61 · $7.7B
fundamentals as of
At a glance · who leads each dimension, on the model's own rules
CheapestHQY33.4x
Fastest growthDOCS+13.1%
Strongest balance sheetDOCS0.01
Highest qualityDOCS88 / 100
Largest discount to fair valueHQY-2%
Side by side · every name on one set of axes
Growth against the P/E multiple. Up and to the right is cheaper and faster — the quality-growth idea in one picture. Points beyond the axis are pinned to the edge and marked off-scale rather than allowed to compress everything else.
The model, pillar by pillar (0–100 each)
DOCS
stronger →← stronger
HQY
88
Qualityreturns · margins · balance sheet
71
70
Growthrevenue & earnings expansion
78
58
Valuevaluation vs sector peers
60
HQY is stronger on 2 of 3 pillars.
Fundamentals, head-to-head
DOCS
HQY
$297mC
FCF
$437mC
+13.1%B+
Rev
+9.5%B
0.01A-
D/E
0.49B
35.9xC+
P/E
33.4xC+
0.59A-
PEG
1.14B+
Winner per row is the stronger grade; where grades tie, the better figure breaks it. A true tie or a missing value shows no highlight.
Valuation · DCF cross-check
DOCS
HQY
18% above
Price vs fair valuelower is cheaper
2% below
~13%/yr
Growth the price impliesyr-1 FCF growth, fading to 4% · lower = less priced in
~8%/yr
-25%
1-yr DCF upside
-9%
-15%
5-yr DCF upside
+2%
0%
10-yr DCF upside
+19%
The DCF is a cross-check on intrinsic value, separate from the quality-growth score above.
Model signals
DOCS
Why this score
Durable high returns
HQY
Why this score
Buying back stock
The companies
DOCSDoximity, Inc.
Health Information Services · $30.50 · beta 1.22
Why now
Health Information Services · market cap $5.4b. Down 58% from 52-week high of $72.24 — deep drawdown territory. Revenue growing +13%, comfortably above the S&P median. PEG 0.59 — paying under fair value for the growth rate. 18 sell-side analysts rate this a Hold with a mean 1-yr target of $29.67 (implying -3% upside).
Moat
Net margin 25% sits well above the S&P median (~11%) — suggests structural pricing advantage or cost discipline competitors can't quickly close. ROE 17% is above 15% — the equity base is compounding at a rate the market struggles to discount accurately. FCF converts 178% of net income — earnings translate cleanly into cash.
Risk
Down 58% from the 52-week high — the market is pricing in something the screen can't see; verify the bear case before sizing up. Trailing P/E 36x sits well above the S&P median (~20x) — multiple compression is a real risk if revenue growth decelerates.
HQYHealthEquity, Inc.
Health Information Services · $92.61 · beta 0.24
Why now
Health Information Services · market cap $7.7b. 14% off the 52-week high of $107.62. 15 sell-side analysts rate this a Strong Buy with a mean 1-yr target of $119.33 (implying +29% upside).
Moat
Net margin 17% beats the market median by a meaningful margin — the company is keeping more of every revenue dollar than the average S&P constituent. ROE 11% meets the long-run market sustainable threshold — solid but not differentiated; the durability comes from elsewhere. FCF converts 185% of net income — earnings translate cleanly into cash.
Risk
Trailing P/E 33x sits well above the S&P median (~20x) — multiple compression is a real risk if revenue growth decelerates.
Verdict — model-derived comparison
DOCS leads HQY by 11.8 points (83.9 to 72.1), its sharpest advantage coming in D/E (grade A-). A contrarian could still prefer HQY, which trades about 16% below our DCF fair value — a margin of safety the score doesn't reward.
Our AI analyst is busy right now, so this verdict is drawn directly from the pillars, grades and DCF above.
Not investment advice. The Bull Rankings publishes a quantitative ranking model and accompanying analysis for general informational purposes only. Nothing on this page is a recommendation to buy, sell, or hold any security; nothing is personalized to your circumstances, risk tolerance, or tax situation. Investing carries the risk of loss — invest at your own risk and consider consulting a licensed financial professional before acting on anything you read here. See terms and methodology for full disclosures.
Where DOCS and HQY diverge
On the headline score the gap is 1.6 points in favor of DOCS. They get there differently, though — each leads on a different pillar, so the better pick depends on which you weight.
QualityDOCS 87.5 · HQY 71.1DOCS +16.4
GrowthDOCS 69.7 · HQY 77.9HQY +8.2
ValueDOCS 58.2 · HQY 59.9level
Pillars run 0–100. Value is judged against each company's own sector, so a Value score is a statement about a company relative to its own industry rather than to the other name here. A wide Value gap usually means the market already prices the difference in quality or growth — which is the trade-off this comparison comes down to.
Common questions
Is DOCS or HQY the better stock?
DOCS scores higher: DOCS 70.8, HQY 69.2 out of 100 on the Bull Rankings quality-growth score, which blends business quality, growth and valuation into one number. A higher score means a stronger business at a more reasonable price — it is not a price target or a recommendation.
Where do DOCS and HQY differ most?
The widest gap is quality, where DOCS leads by 16 points on the 0–100 pillar scale. Neither name sweeps: they trade the lead across the three pillars, so the comparison is a trade-off rather than one being better on every measure.
How are DOCS and HQY scored?
Each carries the same 0–100 quality-growth score used everywhere on the site, built from three pillars — quality (profitability and returns on capital), growth (revenue and earnings), and value (what you pay for them) — combined as a geometric mean, so a weak pillar cannot be papered over by a strong one.
How current is this comparison?
The whole universe is re-scored every trading day after the US market close, so the scores and fundamentals here reflect the latest published edition.