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Waystar Holding Corp. WAY Operating margin

Operating margin at other companies

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UnitedHealth GroupUNH
4.2%-4.0pp
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30.6%-0.4pp
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ExlService HoldingsEXLS
15.2%+0.4pp
ROP
Roper Technologies, Inc.ROP
28.1%-0.1pp
Solventum logo
SolventumSOLV
25.5%+15.8pp
SS&C Technologies logo
SS&C TechnologiesSSNC
23.1%+0.1pp

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
Net margin10.9%
FCF margin25.4%+5.3pp

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 operating margin?
Waystar Holding Corp. (WAY) reported operating margin of 22.9% in Q1 2026.
How has Waystar Holding Corp.'s operating margin changed year-over-year?
Waystar Holding Corp.'s operating margin increased by 45.1% year-over-year, from 15.8% to 22.9%.
What is the long-term trend for Waystar Holding Corp.'s operating margin?
Over 3 years (2022 to 2025), Waystar Holding Corp.'s operating margin has grown at a 21.4% compound annual growth rate (CAGR), from 12.7% to 22.7%.
What does operating margin mean?
Operating income as a percentage of revenue (trailing twelve months). Captures profitability from core operations after both cost of revenue and operating expenses, but before interest and taxes.