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Waystar Holding Corp. WAY Free cash flow margin

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Other financials

Income statement

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Revenue$313.9M+22.4%
Gross profit$216.8M+25.3%
Operating income$80.5M+23.4%
Net income$43.3M+47.9%
EPS (diluted)$0.22+37.5%

Balance sheet

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Cash & equivalents$62.7M-74.9%
Total debt$1.5B+18.0%
Total equity$3.9B+26.0%
Total assets$5.8B+26.4%

Cash flow

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Operating cash flow$84.9M+32.2%
CapEx$15.3M+182%
Free cash flow$69.6M+18.3%

Valuation

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Market cap$3.54B-28.1%
Enterprise value$4.97B-18.8%
P/E28.1×
P/S3.1×-2.0×

Profitability

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Gross margin68.7%+1.9pp
Operating margin22.9%+7.1pp
Net margin10.9%

Returns & leverage

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Return on equity3.6%
Debt / equity0.4×0.0×
Current ratio1.8×-1.4×

Where this comes from

Calculated from Waystar Holding Corp.’s reported figures.

Based on trailing twelve months.

The official record: Waystar Holding Corp.’s 10-Q, filed April 29, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Waystar Holding Corp.'s free cash flow margin?
Waystar Holding Corp. (WAY) reported free cash flow margin of 25.4% in Q1 2026.
How has Waystar Holding Corp.'s free cash flow margin changed year-over-year?
Waystar Holding Corp.'s free cash flow margin increased by 26.3% year-over-year, from 20.1% to 25.4%.
What is the long-term trend for Waystar Holding Corp.'s free cash flow margin?
Over 2 years (2022 to 2025), Waystar Holding Corp.'s free cash flow margin has grown at a 46.0% compound annual growth rate (CAGR), from 12.1% to 25.8%.
What does free cash flow margin mean?
Free cash flow (operating cash flow minus capital expenditures) as a percentage of revenue, trailing twelve months. Measures how efficiently revenue converts into discretionary cash.