Waystar Holding Corp.
WAY Nasdaq· Services-Computer Integrated Systems Design
Last close · Oct 23, 2026
$28.85
KIRA · Stoqly’s AI analyst, in plain words
- Waystar Holding Corp. had $1.1B of revenue in fiscal 2025, up 16.5% on the year before.
- Its operating margin was 22.7%, up 9.6 pts: of every 100 in sales, about 23 is left after running the business.
- Waystar Holding Corp. made $112M of net profit in fiscal 2025.
- Free cash flow was $283M in fiscal 2025, 25.8% of revenue.
- Waystar Holding Corp. returned $0.0M to shareholders in fiscal 2025, 0% of free cash flow. The diluted share count rose 23.3%.
- Waystar Holding Corp. owes $1.4B more than it holds in cash, about 3.6 years of operating profit.
Market cap
$5.6B
P/E
41.2x
Revenue
$1.1B
Net income
$112M
Free cash flow
$283M
Operating margin
22.7%
Waystar Holding Corp. in 30 seconds · fiscal 2025
Are sales growing?
+16.5%
Yes. Sales grew 16.5% last year.
Does it make a profit?
10.2%
Yes. It keeps 10.2% of every sale as profit.
Does profit turn into cash?
25.8%
Yes. 25.8% of sales ends up as free cash.
Is debt under control?
3.6x
Heavy. Repaying its debt would take 3.6 years of operating profit.
How healthy are the accounts?
5 / 8
Mixed. It passes 5 of 8 health tests.
How is the share priced?
41.2x
One share costs 41.2 times its yearly profit per share.
What Waystar Holding Corp. does
No business description yet.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 10-K · Feb 17, 2026
- Legal name
- Waystar Holding Corp.
- CIK
- 0001990354
Waystar Holding Corp. · WAY
Results and finances
The last 4 fiscal years. Amounts in USD.
| Fiscal year | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|
| Sales and profit | ||||
| Revenue | $705M | $791M | $944M | $1.1B |
| Revenue growth | — | 12.2% | 19.3% | 16.5% |
| Operating margin | 12.7% | 18.0% | 13.1% | 22.7% |
| Net income | −$51.5M | −$51.3M | −$19.1M | $112M |
| Net margin | −7.3% | −6.5% | −2.0% | 10.2% |
| Diluted EPS | −$0.42 | −$0.42 | −$0.13 | $0.61 |
| Cash | ||||
| Cash from operations | $103M | $51.5M | $170M | $310M |
| Capital expenditure | $17.4M | $21.5M | $27.3M | $26.5M |
| Free cash flow | $85.2M | $29.9M | $143M | $283M |
| FCF margin | 12.1% | 3.8% | 15.1% | 25.8% |
| Share buybacks | $2.5M | $0.7M | $0.8M | $0.0M |
| Share count change | — | −0.0% | 23.2% | 23.3% |
| Debt and strength | ||||
| Cash and short-term investments | $64.6M | $35.6M | $182M | $86.2M |
| Debt incl. finance leases | — | $2.2B | $1.3B | $1.5B |
| Shareholders' equity | $2.1B | $2.0B | $3.1B | $3.9B |
| Net debt / EBITDA | — | 6.9x | 3.5x | 3.6x |
| Current ratio | — | 1.8x | 2.5x | 1.4x |
| Returns and quality | ||||
| Return on capital | — | 2.7% | 2.4% | 3.1% |
| Return on equity | −2.4% | −2.5% | −0.7% | 3.2% |
| Piotroski F-score | — | — | 6 | 5 |
| Altman Z'' | — | 1.1 | 2.5 | 2.5 |
Insiders bought, 12 months
$0.2M
1 insider
Insiders sold, 12 months
$10.6M
4 insiders
Of sales under plans
100%
$10.6M
How to read these numbers
- Revenue:
- Total sales reported in the income statement.
- Operating margin:
- Operating income as a share of revenue.
- Net income:
- Profit after all expenses, interest and tax.
- Free cash flow:
- Cash from operations minus capital spending.
- Net debt / EBITDA:
- Years of EBITDA needed to pay off net debt. Below zero means more cash than debt.
- Return on capital:
- After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
Waystar Holding Corp. · WAY
Charts and comparison
Ten years at a glance, and how it stacks up against similar companies.
Revenue
Net income
Margins, % of revenue
Cash vs debt (incl. leases)
Free cash flow
Dividends and buybacks
KIRA
At $28.85 a share, the company is worth $5.6B: 41.2 times its earnings of the last four quarters.
Source: SEC EDGAR XBRL filings (CIK 0001990354). Data updated October 24, 2026. For information only — not investment advice. Check the original filings before relying on any figure.