BrightSpring Health Services, Inc. (BTSG) vs Waystar Holding Corp. (WAY)

BrightSpring Health Services, Inc. and Waystar Holding Corp. are both Health Information Services companies. BrightSpring Health Services, Inc. is the larger, with a market value of $11.1B against $4.7B — 2.3× the size. BrightSpring Health Services, Inc. trades at the lower P/E: 31.6× against 34.3×. BrightSpring Health Services, Inc. grew revenue faster over the last twelve months: 26.4% against 19.2%. Waystar Holding Corp. has the higher net margin (11.2% vs 2.55%) and the lower return on invested capital (3.30% vs 7.56%). Across the 20 metrics below, Waystar Holding Corp. leads on 11 and BrightSpring Health Services, Inc. on 9.

Valuation

Metric BTSG WAY Health Information Services median
P/E 31.61 34.31 39.52
P/S 0.81 3.93 2.65
P/B 5.69 1.19 2.32
Price to free cash flow 28.98 19.24 16.77
EV/EBITDA 21.47 13.75 12.35
EV/Sales 0.93 4.96 3.06
Earnings yield 3.16% 2.91% (1.68%)
Free cash flow yield 3.45% 5.20% 0.54%

Profitability

Metric BTSG WAY Health Information Services median
Gross margin 12.38% 69.11% 63.38%
Operating margin 3.12% 22.87% (8.35%)
Net margin 2.55% 11.18% (14.70%)
Free cash flow margin 2.80% 20.42% 0.58%
Return on equity 19.31% 3.77% (6.82%)
Return on assets 6.14% 2.56% (6.02%)
Return on invested capital 7.56% 3.30% 0.00%

Growth

Metric BTSG WAY Health Information Services median
Revenue growth (TTM) 26.35% 19.23% 8.62%
EPS growth (last fiscal year) 1,066.67% 569.23% —
Revenue growth, 5-year CAGR — — 12.36%
Net income growth, 5-year CAGR — — 0.00%

Health

Metric BTSG WAY Health Information Services median
Debt to equity 1.08 0.37 0.01
Current ratio 1.59 1.85 2.37
Net debt to EBITDA 5.17 3.49 0.50

Dividend

Metric BTSG WAY Health Information Services median
Dividend yield — — 0.85%
Payout ratio — — 0.00

Size

Metric BTSG WAY Health Information Services median
Market cap 11.08b 4.72b 352.86m

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