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Waystar Holding Corp. WAY Ratios & Valuation

Q2 '26Q1 '26Q4 '25Q3 '25Q2 '25
Profitability
Gross margin69.1%+1.8pp68.7%+1.9pp68.3%+1.8pp67.8%+1.3pp67.3%+0.4pp
Operating margin22.9%+2.1pp22.9%+7.1pp22.7%+9.6pp23.4%+11.5pp20.8%+7.7pp
Net margin11.2%10.9%10.2%
Returns
Return on equity3.8%3.6%3.2%
Return on invested capital4%-1.0pp3.8%3.5%+0.5pp5.9%5%
Efficiency
Asset turnover0.2×0.0×0.2×0.2×0.0×0.2×0.2×
Liquidity
Current ratio1.8×-1.6×1.8×-1.4×1.4×-1.1×3.9×+1.6×3.4×+1.3×
Leverage
Debt-to-equity0.4×0.0×0.4×0.0×0.4×0.0×0.4×0.0×0.4×-0.1×
Net debt / EBITDA3.3×+0.8×3.4×+0.4×3.6×+0.2×2.1×-1.6×2.5×-2.0×
Per Share
Book value per share$20.49+17.3%$20.18+16.6%$20.99+2.2%$17.78+2.6%$17.47-20.8%
Valuation
Market capitalization$4.48B-24.3%$4.62B-28.1%$6.27B-0.8%$6.61B+42.1%$6.7B+86.9%
Price / earnings33.3×36.6×55.9×
Price / sales3.7×-2.1×-2.6×5.7×-1.0×6.4×+1.2×6.6×+2.5×
Price / book1.1×-0.7×1.2×-0.9×1.6×-0.4×2.1×+0.5×2.1×+0.9×
EV / EBITDA13.7×-4.6×14.6×-7.9×19.7×-4.1×19.4×+0.3×20.4×+3.5×

FAQ

What are Waystar Holding Corp.'s profit margins?
Waystar Holding Corp. (WAY) runs a 69.1% gross margin and a 22.9% operating margin, with a 11.2% net margin.
Where do Waystar Holding Corp.'s ratios come from?
Every ratio is computed from Waystar Holding Corp.'s SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.