Waystar Holding Corp.
WAY · Price history
Price at last available close
$28.92
+$3.85 (+15.36%) 1M
2026-10-28
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Company & revenue
About Waystar Holding Corp.
Primary reporting period: 2025-12-31 · Research updated Oct 12, 2026. A research update is not a new financial filing.
Who they are
Waystar Holding Corp. is dedicated to developing a cloud-based software platform designed to streamline financial transactions within the healthcare industry. Their comprehensive system offers a suite of functionalities, including pre-approving finances, supporting patients with billing, overseeing claims and payments, actively preventing and recovering denied claims, enhancing revenue capture, and providing insightful analytics and reporting. The company's main clientele operates within the healthcare sector.
How they make money
Waystar operates a cloud-based software platform that simplifies healthcare payments for providers. The company generates revenue primarily through transactional volumes and claims processing; as clients serve more patients and process more transactions, Waystar's revenue grows accordingly, supplemented by clients adopting additional solutions over time.
Products & services
AI-powered cloud software platform for healthcare payments, including claims management, patient payments, and reimbursement workflow automation.
Brands & revenue mix
Primary brand for the company's healthcare payment software platform.
Separate brand revenue is not available in this research.Source
Proprietary AI engine used to improve platform performance.
Separate brand revenue is not available in this research.Source
Revenue share is not unit sales or a best-seller ranking. Parent brands and included sub-brands can overlap; do not add overlapping rows.
Product / operating segments
No reconciled product or operating-segment revenue breakdown is available for the current research period. Company-wide revenue remains separate from segment disclosure.
Geographic revenue
No reconciled geographic revenue breakdown was confirmed for the current research period.
Customer types
- Healthcare providersSource
Customer concentration
For the year ended December 31, 2025, the top 10 clients accounted for 10.8% of total revenue.
Suppliers, materials & equipment
- Cloud infrastructure and data center providers — The company relies on third-party cloud hosting and data center services to host its software platform and process transactions.Source
Sources
Wall Street Score
Overall investment score · Quality, value, risk and opportunity
34
Poor
View category scores →
Company Quality
How good is the actual business—regardless of today’s stock price?
54
Fair
Financial Strength
56
Business Quality / Moat
78
Management
32
Growth Quality
63
Risk / Durability
19
Uses financial strength, moat, management, growth quality and durability. It excludes share price, P/E, market cap, intrinsic value and margin of safety.
Opportunity
Opportunity Score · How does the current price compare with estimated value?
36
Avoid
Based on current valuation, company quality, recent trends, and available market signals.
View score details →
Model Outlook
12-month model · What does the model think happens next?
44/100
Building Historical Record
Model Score 44/100 — estimates relative performance potential, distinct from the overall Wall Street Score and the separate Company Quality score.
Probability unavailable — the model has not produced a calibrated probability yet.
Click for full breakdown →
WSS View
The quick read
The overall Wall Street Score is low across its combined quality, valuation and risk inputs. This can reflect an expensive share price, business weaknesses, or both; check Company Quality and the category breakdown before drawing a conclusion.
At today’s price, the WSS valuation framework currently reads as less attractive based on the available valuation and market data.
The model outlook is currently cautious.
- •Asset quality scores strongly
- •Valuation is a weaker part of the current profile
- •Revenue fundamentals are weak
Company-specific research
Questions worth answering for WAY
These questions are generated from this company's current financial and score data so the page adds context instead of treating the headline score as a stand-alone conclusion.
- •Can WAY maintain its current revenue growth rate and improve the amount of that revenue that turns into earnings and cash?
- •Is WAY's positive free cash flow repeatable, or is the current level being helped by temporary working-capital or spending changes?
- •Is WAY's debt load manageable relative to cash generation, interest costs and upcoming maturities?
- •What future growth or profitability would be needed to justify WAY's current valuation?
Essential Investment Snapshot
Wall Street Score
34
Opportunity Score
36
Market Cap
$5.55B
P/E Ratio
40.0
EPS
$0.72
52-Week High
$40.35
52-Week Low
$17.26
Beta
0.07
Intrinsic Value
$27.72
Analyst Target
$33.00
Shares Outstanding
184.8M
Total Revenue
$1.21B
Total Debt
$1.48B
Dividend
No current dividend
Liquidation Value / Share
$21.57
Momentum & Volatility Signals
Two different market-behavior signals. Momentum measures direction and trend strength. Volatility measures how large and unstable the price moves are, regardless of direction.
Building upward momentum
Low movement
A high momentum score means price has been trending upward with confirming short- and medium-term strength. A low score means downward or weakening momentum.
A high volatility score means larger, less stable price swings. It can happen while a stock is rising or falling, so high volatility is not automatically bullish or bearish.
Important: the volatility score above is based on realized price volatility. Implied volatility (IV) comes from options prices and represents the market's expected future movement. Wall Street Score will keep IV separate and will only display it when a verified options-chain feed is available.
Community Sentiment
0 active · 0 total callsNo personal call yet on WAY.
Potential upside factors
- +Growth opportunities may come from revenue expansion, margin improvement, new products, market-share gains, and stronger cash flow.
- +Proprietary AI engine (Waystar AltitudeAI).
- +Highly diversified client base.
- +Positive free cash flow may provide capacity to invest in growth.
Potential downside factors
- −Key risks may include competition, margin pressure, debt levels, valuation risk, and changes in demand within the Medical - Healthcare Information Services industry.
- −Dependence on third-party cloud infrastructure.
- −Changes in healthcare regulations and reimbursement policies.
These research factors come from saved company research and financial data, not community votes. They are starting points to verify against filings, not buy or sell recommendations.
Create a free account to make a call.
Scores
Click any score for full breakdownWas this stock page easy to understand?
One click helps us improve the research experience. This is not tied to an investment decision.
Score Changes
3 historical score records availablePrevious Score
38
Oct 1, 2026
Change
-3.8
points
Current Score
34
Oct 26, 2026
Category Changes
WAY decreased 3.8 points because Asset declined by 3.5 points, Capital declined by 2 points, Valuation declined by 15.4 points.
Negative Contributors
- − Asset declined by 3.5 points
- − Capital declined by 2 points
- − Valuation declined by 15.4 points
- − Buffett declined by 2.2 points
Projected Score
Projected Score
32
Projected Change
-1.6 points
Preliminary comparable-period financial changes suggest decline of approximately 1.6 points. This is a projected estimate, not the official WallStreetScore.
Price vs. Value
Near Fair ValueCurrent Price
$28.92
Model Intrinsic Value
$27.72
Difference
+$1.20
+4.3% vs IV
Margin of Safety
-4.3%
Financial Charts
Revenue
Additional Metrics
Operating Cash Flow
Total Debt
Total Assets
Net Margin %
Free includes 3 annual periods plus available TTM; Premium includes up to 10 annual periods. History depends on available company filings. Swipe the table horizontally to see older periods. A dash means unavailable, not zero.
| Line Item | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Revenue | $1.21B | $1.10B | $943.5M | $791.0M | ···· | ···· |
| Cost of Revenue | $372.5M | $348.2M | $315.7M | $249.8M | ···· | ···· |
| Gross Profit | $833.2M | $751.1M | $627.8M | $541.2M | ···· | ···· |
| Research & Development | $67.0M | $54.6M | $48.8M | $35.3M | ···· | ···· |
| SG&A Expenses | $333.8M | $306.6M | $268.7M | $187.4M | ···· | ···· |
| Operating Expenses | $557.5M | $501.8M | $504.1M | $399.2M | ···· | ···· |
| EBITDA | $432.4M | $389.9M | $310.4M | $318.6M | ···· | ···· |
| Operating Income | $275.8M | $249.3M | $123.7M | $142.1M | ···· | ···· |
| Interest Expense | $80.7M | $77.5M | $146.3M | $205.9M | ···· | ···· |
| Income Before Tax | $195.1M | $171.8M | -$22.5M | -$63.8M | ···· | ···· |
| Income Tax Expense | $60.3M | $59.7M | -$3.4M | -$12.5M | ···· | ···· |
| Net Income | $134.8M | $112.1M | -$19.1M | -$51.3M | ···· | ···· |
| Basic EPS | $0.72 | $0.63 | $-0.13 | $-0.31 | ···· | ···· |
| Basic Shares | 192M | 178M | 150M | 167M | ···· | ···· |
| Diluted Shares | 195M | 185M | 150M | 167M | ···· | ···· |
Earnings Summary
Revenue
$319.7M
Estimate unavailable.
Revenue Beat/Miss
Not available (no estimate stored)
EPS
$0.21
Estimate unavailable.
EPS Beat/Miss
Not available (no estimate stored)
Debt Change
+18.0%
Cash Change
-95.6%
Margin Change
+0.9 pp
Debt and cash show percentage changes versus the comparison period; margin shows the change in percentage points (pp). These are company-wide changes, not per-share amounts.
Financial Changes Since Prior Period
What Improved
- Margins expanded
What Weakened
- Cash position declined
- Debt increased
Potential Score Impact
Positive indicators included revenue growth, EPS growth, net income margin. Pressure indicators included cash levels, debt levels. These factors may support or pressure the Revenue, Management, Financial, and Debt categories; this summary does not claim that the stored scores changed.
Stored Earnings Analysis
Revenue increased 18.1%. EPS increased 16.7%. Cash declined 95.6%. Total debt increased 18.0%. Net income margin improved by 0.9 percentage points.
Earnings-Call Transcript
Earnings-call transcript analysis is not currently available.
These results may influence future scores when the next evaluation is completed.
Insider Activity
Guru / Smart Money
Guru Score
Smart Money
Number of Gurus
Total Guru Value
Avg Portfolio Weight
Largest Holder
Largest Holder %
New Positions
Increased Positions
Reduced Positions
Exited Positions
Net Guru Sentiment
Short Interest
Dividend History
Dividend data is not available yet. Missing data does not mean this company pays no dividend.
Conservative Projected Values
3 Years
$———.——
5 Years
$———.——
10 Years
$———.——
Conservative Projection Rate
——%
Conservative Projected Values — price projections derived from actual 10-year adjusted historical returns, conservatively adjusted and capped at 8% annually. These are distinct from the Outperformance Model Score and WallStreetScore.
Conservative Projected Values
Premium unlocks the 3-year, 5-year, and 10-year conservative projected values with full calculation breakdowns based on actual historical returns.
Start 7-Day Free TrialHistorical Outperformance Record
Premium includes stored forecasts and any available evaluated results. Completed results, win rates and calibrated probabilities are shown only when supported records exist; access does not create historical outcomes.
Start 7-Day Free TrialHistorical Trends
3 historical recordsHistorical Score Chart
3 of 3 records shownWall Street Score
Debt Score
Revenue Score
Asset Score
Capital Score
Management Score
Moat Score
Valuation Score
Buffett Score
Intrinsic Value
Value Reference
Margin of Safety %
Related Companies
Medical - Healthcare Information ServicesNews
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WAYSTAR INVESTOR ALERT: Kaskela Law Firm Announces Stockholder Investigation of Waystar Holding Corp. (WAY) and Encourages Investors to Contact the Firm to Explore Their Legal Rights and Options
Waystar (WAY) Soars 7.1%: Is Further Upside Left in the Stock?
Rumor Mill · WAY
Corporate developments & opportunities
No reviewed developments match this filter.
Evidence credibility is not a forecast of stock performance. Rumor Mill is separate from the WSS score.
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