COMPARE · Reviewed August 3, 2026
DOCS vs HQY
Verdict: Side-by-side breakdown using the Bull Rankings model. DOCS scored 90.6, HQY scored 67.6 — DOCS leads.
Compare another set
DOCS
Doximity, Inc.
90.6
$21.80 · $3.9B
fundamentals as of
Score gap
23.0
DOCS leads
HQY
HealthEquity, Inc.
67.6
$104.45 · $8.7B
fundamentals as of
The model, pillar by pillar (0–100 each)
DOCS
stronger →← stronger
HQY
90
Qualityreturns · margins · balance sheet
70
93
Growthrevenue & earnings expansion
69
89
Valuevaluation vs sector peers
64
DOCS is stronger on 3 of 3 pillars.
Fundamentals, head-to-head
DOCS
HQY
$326mC
FCF
$488mC
+13.1%B+
Rev
+7.6%B
0.01A
D/E
0.48B
22.2xB+
P/E
39.1xC+
0.59A-
PEG
1.44B
Winner per row is the stronger grade in our model; a tie or a missing value shows no highlight.
Valuation · DCF cross-check
DOCS
HQY
20% below
Price vs fair valuelower is cheaper
7% below
~2%/yr
Growth the price implies10-yr FCF · lower = less priced in
~8%/yr
+13%
1-yr DCF upside
-8%
+26%
5-yr DCF upside
+8%
+45%
10-yr DCF upside
+35%
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.
Why now
Health Information Services · market cap $3.9b. Down 72% from 52-week high of $76.51 — 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 Buy with a mean 1-yr target of $24.61 (implying +13% upside).
Moat
Net margin 30% is exceptional — pricing-power territory rare outside premium software, branded staples, and specialty pharma. ROE 21% sits above Buffett's preferred 15% threshold — the equity base is compounding at a rate the market struggles to discount accurately. FCF converts 166% of net income — earnings translate cleanly into cash, a sign that working capital and capex are well-disciplined.
Risk
Down 72% from the 52-week high — the market is pricing in something the screen can't see; verify the bear case before sizing up.
HQYHealthEquity, Inc.
Why now
Health Information Services · market cap $8.7b. Trading near 52-week high of $105.96 — momentum setup, limited technical margin of safety. 15 sell-side analysts rate this a Strong Buy with a mean 1-yr target of $118.53 (implying +13% 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. Free cash flow runs well ahead of reported net income — non-cash charges (depreciation, intangible amortization) are holding down GAAP earnings while cash generation stays strong.
Risk
Trading within 1% of the 52-week high — limited technical margin of safety; a momentum reversal would test conviction. Trailing P/E 39x sits well above the S&P median (~20x) — multiple compression is a real risk if revenue growth decelerates.
Verdict — model-derived comparison
Generating verdict… typically 5–10 seconds
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.