Waystar Holding Corp. WAY R2K
Waystar Holding Corp. develops a cloud-based software solution for healthcare payments. Its platform offers financial clearance, patient financial care, claim and payer payment management, denials prevention and recovery, clinical integrity and revenue capture, and analytics and reporting solutions. It primarily serves healthcare industry. The company was founded in 2017 and is headquartered in Lehi, Utah.
READ MORE ›Market & Price
Valuation
Profitability & Returns
Balance Sheet & Liquidity
Ownership
Financial Snapshot
Growth (CAGR)
PROS
- Compounding revenue at 16.0% over 5 years.
- Profit CAGR of 105.9% over 5 years.
- Generates positive free cash flow.
CONS
- Trading 51.6% below its 52-week high.
- In a downtrend (50-DMA below 200-DMA).
* The pros and cons are auto-generated from financial metrics.
Price Chart
Technical Trend
Computed from daily close history using EMA cross, slope, and RSI signals.
Note: intraday data is not stored locally. “Hourly” uses the most recent 10 daily candles as a short-term proxy.
Fundamental Growth
No fundamental data available for this stock.
Figures from the latest reported periods. CAGR is computed across the displayed window (quarterly CAGR is annualised assuming 4 quarters per year).
Peer comparison
Peer companies in the same sector (Healthcare).
| # | Name | CMP $ | P/E | Mkt Cap | Div Yld % | ROCE % | ROE % | Rev CAGR 5Y % | Profit CAGR 5Y % |
|---|---|---|---|---|---|---|---|---|---|
| 1 | WAY Waystar Holding Corp. R2K | 19.91 | 29.72 | $3.82B | - | 4.48% | 3.57% | 15.97% | 105.95% |
| 2 | LLY Eli Lilly and Company SPX | 1,105.00 | 39.21 | $985.37B | 0.63% | 38.44% | 107.46% | 31.69% | 48.96% |
| 3 | JNJ Johnson & Johnson SPX | 225.33 | 26.11 | $542.42B | 2.38% | 23.13% | 26.42% | 5.60% | 14.32% |
| 4 | UNH UnitedHealth Group Incorporated SPX | 380.31 | 28.66 | $345.38B | 2.32% | 9.60% | 12.18% | 11.35% | -15.69% |
| 5 | MRK Merck & Co., Inc. SPX | 118.72 | 33.44 | $293.22B | 2.86% | 20.66% | 18.94% | 3.12% | 7.93% |
| 6 | TMO Thermo Fisher Scientific Inc. SPX | 492.51 | 27.11 | $183.03B | 0.38% | 9.17% | 13.52% | -0.27% | -1.19% |
| 7 | AMGN Amgen Inc. NDXSPX | 336.79 | 23.42 | $181.77B | 2.99% | 18.02% | 101.32% | 11.77% | 5.58% |
| 8 | GILD Gilead Sciences, Inc. NDXSPX | 134.43 | 18.29 | $166.90B | 2.44% | 22.92% | 43.36% | 2.57% | 22.83% |
| 9 | ISRG Intuitive Surgical, Inc. NDXSPXAI | 424.64 | 51.53 | $150.39B | - | 15.96% | 17.23% | 17.39% | 29.26% |
Quarterly Results
Figures in USD.
| Metric | Jun 2023 | Sep 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 195.97M | 197.26M | 224.79M | 234.54M | 240.11M | - | 256.44M | 270.65M | 268.65M | 303.54M | 313.87M |
| Cost of Revenue | - | - | - | - | - | - | 83.34M | 87.04M | 85.14M | 92.64M | 97.03M |
| Gross Profit | - | - | - | - | - | - | 173.09M | 183.61M | 183.51M | 210.90M | 216.84M |
| Operating Expenses | - | - | - | - | - | - | 107.88M | 118.76M | 123.28M | 151.88M | 136.37M |
| Operating Income | 37.19M | 32.22M | 35.19M | 8.24M | 27.15M | - | 65.21M | 64.85M | 60.23M | 59.02M | 80.47M |
| EBITDA | - | - | - | - | - | - | 98.59M | 98.27M | 93.53M | 99.46M | 121.92M |
| Interest Expense | - | - | - | - | - | - | 18.90M | 18.25M | 17.52M | 22.87M | 20.65M |
| Pretax Income | - | - | - | - | - | - | 46.31M | 46.59M | 42.72M | 36.15M | 59.82M |
| Tax Provision | - | - | - | - | - | - | 17.04M | 14.41M | 12.07M | 16.16M | 16.54M |
| Net Income | -10.81M | -15.49M | -15.93M | -27.68M | 5.41M | - | 29.27M | 32.18M | 30.65M | 19.99M | 43.28M |
| Diluted EPS | -0.09 | -0.13 | -0.13 | -0.21 | 0.03 | - | 0.16 | 0.18 | 0.17 | 0.10 | 0.22 |
| R&D Expense | 8.25M | 8.97M | 10.32M | 15.90M | 11.08M | - | 11.08M | 12.62M | 12.40M | - | 18.37M |
Profit & Loss (Annual)
Figures in USD.
| Metric | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | - | 704.87M | 791.01M | 943.55M | 1.10B |
| Cost of Revenue | - | 214.89M | 249.77M | 315.73M | 348.16M |
| Gross Profit | - | 489.98M | 541.24M | 627.82M | 751.12M |
| Operating Expenses | - | 400.53M | 399.16M | 504.09M | 501.81M |
| Operating Income | - | 89.45M | 142.08M | 123.72M | 249.31M |
| EBITDA | - | 272.62M | 318.55M | 310.36M | 389.85M |
| Interest Expense | - | 155.32M | 205.92M | 146.27M | 77.54M |
| Pretax Income | - | -65.88M | -63.83M | -22.55M | 171.76M |
| Tax Provision | - | -14.42M | -12.50M | -3.42M | 59.67M |
| Net Income | - | -51.45M | -51.33M | -19.12M | 112.09M |
| Diluted EPS | - | -0.31 | -0.31 | -0.13 | 0.61 |
| R&D Expense | - | 32.81M | 35.33M | 48.77M | 54.62M |
Compounded Sales Growth
| 5 Years: | 15.97% |
| 1 Year: | 22.40% |
Compounded Profit Growth
| 5 Years: | 105.95% |
| 1 Year: | 37.50% |
Stock Price Performance
| 1 Year: | -50.20% |
| 6 Months: | -46.16% |
| 3 Months: | -22.38% |
| 1 Month: | -21.21% |
Balance Sheet (Annual)
Figures in USD.
| Metric | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Total Assets | - | 4.69B | 4.58B | 4.58B | 5.79B |
| Current Assets | - | 217.90M | 222.05M | 371.04M | 308.41M |
| Cash & Equivalents | - | 64.56M | 35.58M | 182.13M | 61.35M |
| Inventory | - | - | - | - | - |
| Receivables | - | 107.08M | 126.09M | 145.24M | 177.04M |
| Total Liabilities | - | 2.59B | 2.53B | 1.50B | 1.91B |
| Current Liabilities | - | 102.21M | 123.49M | 145.63M | 218.06M |
| Long Term Debt | - | 2.21B | 2.20B | 1.22B | 1.46B |
| Total Debt | - | 2.26B | 2.25B | 1.26B | 1.49B |
| Total Equity | - | 2.11B | 2.05B | 3.08B | 3.88B |
| Shares Outstanding | - | 166.66M | 166.66M | 172.11M | 191.59M |
Cash Flows (Annual)
Figures in USD.
| Metric | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating Cash Flow | - | 102.63M | 51.46M | 169.77M | 309.67M |
| Investing Cash Flow | - | -17.43M | -61.52M | -27.27M | -680.90M |
| Financing Cash Flow | - | -67.06M | -17.15M | 16.65M | 243.45M |
| Capital Expenditure | - | -17.43M | -21.52M | -27.27M | -26.48M |
| Free Cash Flow | - | 85.20M | 29.94M | 142.50M | 283.19M |
| Net Change in Cash | - | 18.14M | -27.21M | 159.15M | -127.77M |
| Share Buybacks | - | 2.45M | 688.00K | 844.00K | 0 |
Ratios (Annual)
Figures in %.
| Metric | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Gross Margin % | - | 69.5% | 68.4% | 66.5% | 68.3% |
| Operating Margin % | - | 12.7% | 18.0% | 13.1% | 22.7% |
| Net Margin % | - | -7.3% | -6.5% | -2.0% | 10.2% |
| ROE % | - | -2.4% | -2.5% | -0.6% | 2.9% |
| ROCE % | - | 1.9% | 3.2% | 2.8% | 4.5% |
Shareholding Pattern
Top Institutional Holders
| # | Holder | % Held | Shares | Value |
|---|---|---|---|---|
| 1 | Eqt Fund Management S.a R.l. | 12.97% | 24.88M | $495.35M |
| 2 | Canada Pension Plan Investment Board | 9.92% | 19.03M | $378.80M |
| 3 | Blackrock Inc. | 8.69% | 16.67M | $331.81M |
| 4 | FMR, LLC | 7.80% | 14.96M | $297.90M |
| 5 | Bain Capital Investors Llc | 6.90% | 13.24M | $263.68M |
| 6 | Advent International LP | 5.77% | 11.06M | $220.20M |
| 7 | Vanguard Portfolio Management LLC | 3.34% | 6.41M | $127.56M |
| 8 | Vanguard Capital Management LLC | 2.68% | 5.15M | $102.44M |
| 9 | Neuberger Berman Group, LLC | 2.44% | 4.67M | $93.00M |
| 10 | Goldentree Asset Management LP | 2.32% | 4.44M | $88.47M |
Analyst View
Analyst aggregate. Targets and ratings update periodically; not investment advice.
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