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Waystar Holding Corp.

WAY

$28.94 ▼ -0.72 (-2.44%) at close

5 Visible periods

30 Metrics

Peer-ranked Benchmarks

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Health

Good

Bullish

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Analytical Summary

Waystar Holding Corp. shows strong fundamentals with top-quartile Operating Margin (%). The company's metrics support a bullish outlook for growth-oriented investors.

Market Cap $5.1B

Dividend Yield —

Revenue Growth 16.5% ↘

Op. Margin 22.7% ↗

ROIC 3.0% ↗

FCF / Share $1.74 ↗

Trailing P/E 45.9x

Price / Book 1.4x

FCF Yield 6.0%

Debt / Equity 0.38

info Valuation on last close. End-of-day price, Nov 5, 2026.

5-Year Financial Trajectory

Annual

Metric Value Trend Year over Year Percentile

Revenue Total top-line sales

$1.10B

↑ +16.5% —

Net Income Profit after all expenses

$112.09M

↑ +686.1% —

Operating Margin Operating profit as % of sales

22.7%

↑ +73.0% 79th

FCF / Share Free cash flow per share

$1.74

↑ +53.7% —

Long-Term Debt Long-term obligations

$1.48B

↑ +19.1% —

trending_up

Bullish Indicators

Operating Margin (%)Operating Margin (%) is in the top quartile

warning

Bearish Risks

No bearish risks detected.

Health Breakdown

Profitability ↑

Returns

Financial Health →

Cash Quality

Financial view

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📈 Is growth accelerating? 5 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗
Revenue Growth YoY (%)	16.5% Good → Good Stable Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+38%)	19.3% Good Good Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+61%)	12.2% Good Good Year-over-year change in total revenue Optimal: > 10% vs Sector: At sector avg	—	—
EPS Growth YoY (%)	N/M	69.0% Excellent Excellent Year-over-year change in earnings per share Optimal: > 10%	0.0% Caution Caution Year-over-year change in earnings per share Optimal: > 10%	—	—
Net Income Growth YoY (%)	N/M	62.7% Excellent Excellent Year-over-year change in net income	0.2% Caution Caution Year-over-year change in net income	—	—
FCF Growth YoY (%)	53.7% Excellent ↓ Excellent Declining Year-over-year change in free cash flow	167.8% Excellent Excellent Year-over-year change in free cash flow	-49.9% Weak Weak Year-over-year change in free cash flow	—	—
Revenue CAGR 3Y (%)	16.0% Excellent Excellent Compound annual revenue growth over 3 years	—	—	—	—

💰 Are margins durable? 5 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗
Operating Margin (%) (%)	22.7% Good ↑ Good Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+13%)	13.1% Fair ↓ Fair Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-34%)	18.0% Fair Fair Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-10%)	12.7% Fair Fair Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-37%)	—
Effective Tax Rate (%) (%)	34.7% Weak ↑ Weak Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	15.2% Good ↓ Good Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	19.6% Good Good Actual taxes paid relative to pre-tax income Optimal: 15-25%	21.9% Fair Fair Actual taxes paid relative to pre-tax income Optimal: 15-25%	—
Profit Margin (%) (%)	10.2% Fair ↑ Fair Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-32%)	-2.0% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-114%)	-6.5% Weak Weak Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-143%)	-7.3% Weak Weak Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-149%)	—
FCF Margin (%) (%)	28.2% Excellent ↑ Excellent Improving Free cash flow as a percentage of revenue Optimal: > 10%	18.0% Good ↑ Good Improving Free cash flow as a percentage of revenue Optimal: > 10%	6.5% Caution Caution Free cash flow as a percentage of revenue Optimal: > 10%	14.6% Fair Fair Free cash flow as a percentage of revenue Optimal: > 10%	—
FCF / Net Income (x)	2.76x Excellent ↑ Excellent Improving Free cash flow relative to reported net income Optimal: > 1x	-8.88x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	-1.00x Weak Weak Free cash flow relative to reported net income Optimal: > 1x	-1.99x Weak Weak Free cash flow relative to reported net income Optimal: > 1x	—

🎯 Is capital allocation efficient? 3 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗
Return on Invested Capital (%)	3.0% Weak ↑ Weak Improving Return earned on debt + equity capital invested Optimal: > 10%	2.4% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	2.7% Weak Weak Return earned on debt + equity capital invested Optimal: > 10%	3.3% Weak Weak Return earned on debt + equity capital invested Optimal: > 10%	—
Return on Capital (%) (%)	4.3% Caution ↑ Caution Improving Operating profit relative to total assets Optimal: > 10%	2.7% Weak Weak Operating profit relative to total assets Optimal: > 10%	3.1% Weak Weak Operating profit relative to total assets Optimal: > 10%	—	—
Return on Common Equity (%) (%)	2.9% Weak ↑ Weak Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-84%)	-0.6% Weak ↑ Weak Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-103%)	-2.5% Weak Weak Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-114%)	-2.4% Weak Weak Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-113%)	—

⚖️ Is the balance sheet risky? 4 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗
Debt to Equity (x)	0.38x Good ↓ Good Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-15%)	0.40x Good Good Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-10%)	1.07x Caution Caution Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+138%)	—	—
Interest Coverage (x)	3.05x Fair ↑ Fair Improving Operating income divided by interest expense Optimal: > 5x	1.01x Weak ↑ Weak Improving Operating income divided by interest expense Optimal: > 5x	0.74x Weak Weak Operating income divided by interest expense Optimal: > 5x	0.62x Weak Weak Operating income divided by interest expense Optimal: > 5x	—
Net Debt (USD)	$1.42B	$1.06B	$2.16B	$-64.56M	—
Debt / EBITDA (x)	3.80x Caution ↓ Caution Declining Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	4.01x Weak Weak Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	6.91x Weak Weak Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	—	—

📊 What does each share earn? 6 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗
Revenue per Share (USD)	$6.18	$6.29	$6.50	$5.79	—
Basic EPS, GAAP (USD)	$0.63	$-0.13	$-0.42	$-0.42	—
Free Cash Flow per Share (USD)	$1.74	$1.13	$0.42	$0.84	—
Book Value per Share (USD)	$20.25	$17.89	$16.85	$17.31	—
Tangible Book Value per Share (USD)	$-7.47	$-5.69	$-17.81	$-7.42	—
Basic Weighted Avg Shares (shares)	177.93M	149.92M	121.68M	121.68M	—

🏦 How resilient is the balance sheet? 3 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗
Working Capital (USD)	$90.35M	$225.41M	$98.56M	—	—
LT Debt (USD)	$1.48B	$1.24B	$2.20B	—	—
Total Equity (USD)	$3.88B	$3.08B	$2.05B	$2.11B	$2.12B

📋 What is driving earnings? 4 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗
Sales/Revenue/Turnover (USD)	$1.10B	$943.55M	$791.01M	$704.87M	—
Depreciation Expense (USD)	$140.55M	$186.63M	$176.47M	$183.17M	—
Net Income, GAAP (USD)	$112.09M	$-19.12M	$-51.33M	$-51.45M	—
Operating Cash Flow (USD)	$309.67M	$169.77M	$51.46M	$102.63M	—

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bar_chart Data from SEC EDGAR XBRL filings

Synced 4 days ago 5 years · 17 quarters

Waystar Holding Corp.

Analytical Summary

5-Year Financial Trajectory

Bullish Indicators

Bearish Risks

Health Breakdown

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