Saturday 17 October 2026
Export WAY’s income statement to Excel — free account
Waystar Holding Corp.
WAY Healthcare Health Information Services
Waystar Holding Corp.’s revenue for fiscal 2025 (year ended December 2025) was $1.1 billion, up 16.5% from fiscal 2024. In the quarter to June 2026, revenue grew 18.1%, EPS grew 10.5%, free cash flow fell 52.4% and total debt rose 18.4%, each against the same quarter a year earlier. Revenue growth for three consecutive years.
27.36
0.88
−3.12%
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Target Price Range
Analyst price targets
Free accountTen years at a glance Fiscal years to December
| Group | Line | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Trend | 2026e | 2027e | 2028e |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Price, $ | |||||||||||||||
| Price, $ | Low | — | — | — | — | — | — | — | — | 20.26 | 29.40 |
Analyst estimates 2026–2028 Powerpack |
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| High | — | — | — | — | — | — | — | — | 38.35 | 48.11 | |||||
| People | |||||||||||||||
| People | Employees | — | — | — | — | — | — | — | 1,400 | 1,500 | 1,700 | ||||
| Revenue/emp, $m | — | — | — | — | — | — | 0.00 | 0.57 | 0.63 | 0.65 | |||||
| Income, $m | |||||||||||||||
| Income, $m | Revenue | — | — | — | — | — | — | 705 | 791 | 944 | 1,099 | ||||
| Gross margin, % | — | — | — | — | — | — | 69.51 | 68.42 | 66.54 | 68.33 | |||||
| EBT | — | — | — | — | — | — | (66) | (64) | (23) | 172 | |||||
| EBT margin, % | — | — | — | — | — | — | (9.35) | (8.07) | (2.39) | 15.63 | |||||
| Net income | — | — | — | — | — | — | (51) | (51) | (19) | 112 | |||||
| Depreciation | — | — | — | — | — | — | 193 | 187 | 191 | 143 | |||||
| Per share, $ | |||||||||||||||
| Per share, $ | Revenue | — | — | — | — | — | — | 5.79 | 6.50 | 6.29 | 6.18 | ||||
| Earnings | — | — | — | — | — | — | (0.42) | (0.42) | (0.13) | 0.63 | |||||
| Cash flow | — | — | — | — | — | — | 0.84 | 0.42 | 1.13 | 1.74 | |||||
| Capex | — | — | — | — | — | — | (0.14) | (0.18) | (0.18) | (0.15) | |||||
| Free cash flow | — | — | — | — | — | — | 0.70 | 0.25 | 0.95 | 1.59 | |||||
| Book value | — | — | — | — | — | — | 17.31 | 16.85 | 20.54 | 21.80 | |||||
| Shares, m | — | — | — | — | — | — | 122 | 122 | 150 | 178 | |||||
| Valuation, × | |||||||||||||||
| Valuation, × | P/E | — | — | — | — | — | — | 0.00 | 0.00 | 0.00 | 51.17 | ||||
| P/S | — | — | — | — | — | — | 0.00 | 0.00 | 5.83 | 5.30 | |||||
| P/B | — | — | — | — | — | — | 1.23 | 1.23 | 1.79 | 1.50 | |||||
| EV/Sales | — | — | — | — | — | — | 0.00 | 0.00 | 6.93 | 6.55 | |||||
| EV/FCF | — | — | — | — | — | — | 133.94 | 133.94 | 45.90 | 25.42 | |||||
| Cash, $m | |||||||||||||||
| Cash, $m | Operating cash flow | — | — | — | — | — | — | 103 | 51 | 170 | 310 | ||||
| Capex | — | — | — | — | — | — | (17) | (22) | (27) | (26) | |||||
| Free cash flow | — | — | — | — | — | — | 85 | 30 | 143 | 283 | |||||
| Balance, $m | |||||||||||||||
| Balance, $m | Working capital | — | — | — | — | — | — | 116 | 99 | 225 | 90 | ||||
| Total debt | — | — | — | — | — | — | 2,239 | 2,230 | 1,244 | 1,473 | |||||
| Net debt | — | — | — | — | — | — | 2,166 | 2,184 | 1,039 | 1,371 | |||||
| Shareholders’ equity | — | — | — | — | — | — | 2,106 | 2,050 | 3,080 | 3,879 | |||||
| Returns, % | |||||||||||||||
| Returns, % | ROA | — | — | — | — | — | — | 0.00 | (1.11) | (0.42) | 2.16 | ||||
| ROIC | — | — | — | — | — | — | 1.31 | 2.10 | 1.88 | 2.97 | |||||
| ROE | — | — | — | — | — | — | 0.00 | (2.47) | (0.75) | 3.22 | |||||
Negative figures in brackets.
Fiscal years to Dec 2025 · latest quarter Jun 2026
Charts ten years each
Waystar Holding Corp. vs peers in Health Information Services (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| TEM Tempus AI, Inc. | $12.8B | — (loss-making) | — (loss-making) | +21.56% (above 0%: growing) | n/m | −153.72% (below 0%: shrinking) | 64.45% | (19.85%) | Compare |
| BTSG BrightSpring Health Services, Inc. | $12.3B | 34.0× | 37.6× | +23.05% (above 0%: growing) | +192.86% (above 0%: growing) | −39.62% (below 0%: shrinking) | 12.72% | 3.37% | Compare |
| TXG 10x Genomics | $9.4B | — (loss-making) | — (loss-making) | −12.65% (below 0%: shrinking) | n/m | −4.61% (below 0%: shrinking) | 74.48% | (12.95%) | Compare |
| HNGE Hinge Health Inc. | $8.5B | 73.5× | 39.4× | +53.00% (above 0%: growing) | n/m | +441.14% (above 0%: growing) | 86.44% | 19.00% | Compare |
| HQY HealthEquity, Inc. | $7.7B | 33.0× | 30.2× | +7.64% (above 0%: growing) | +14.49% (above 0%: growing) | −3.44% (below 0%: shrinking) | 73.55% | 28.14% | Compare |
| DOCS Doximity, Inc. | $5.6B | 34.8× | 26.2× | +7.34% (above 0%: growing) | −53.57% (below 0%: shrinking) | −34.14% (below 0%: shrinking) | 84.87% | 21.48% | Compare |
| WAY Waystar Holding Corp. | $5.4B | 38.0× | 22.4× | +18.11% (above 0%: growing) | +10.53% (above 0%: growing) | −52.42% (below 0%: shrinking) | 69.44% | 23.79% | |
| HTFL Heartflow, Inc. | $4.4B | — (loss-making) | — (loss-making) | +47.57% (above 0%: growing) | n/m | +62.62% (above 0%: growing) | 83.00% | (27.93%) | Compare |
| PRVA Privia Health Group, Inc. | $2.9B | 102× | 87.8× | +21.39% (above 0%: growing) | +250.00% (above 0%: growing) | −86.20% (below 0%: shrinking) | 9.93% | 1.86% | Compare |
| Median of peers | $8.1B | 34.8× | 37.6× | +21.48% | +103.68% | −19.37% | 74.02% | 2.62% |
Waystar Holding Corp. (WAY) key facts
- Strength: Waystar Holding Corp.’s revenue for fiscal 2025 (year ended December 2025) was $1.1 billion, up 16.5% from fiscal 2024.
- Waystar Holding Corp. (WAY) is a Health Information Services company in the Healthcare sector, listed on Nasdaq.
- As of October 16, 2026, WAY traded at $27.36, a market capitalization of $5.4 billion.
- Return on equity was 3.22% and debt-to-equity 0.37.
- Its Piotroski F-score is 6 out of 9 and its Altman Z-score is 2.16 (grey zone) for fiscal 2025.