Stocks · Healthcare · Medical - Healthcare Information Services
Waystar Holding Corp. WAY
$24.81 -2.13% Close, Oct 2, 2026 · NASDAQ · Market cap $4.76B
Inexpensive vs sector
Next earnings report: Nov 4, 2026
Scroll or pinch to zoom, drag to move. Daily prices adjusted for splits. Markers: E = earnings (green beat, red miss), S = split, D = dividend.
Three things to know
- Diluted EPS over the last four quarters was $0.70, up 45.6% year over year.
- Net debt is 3.4× EBITDA, a high level of leverage.
- Revenue over the last four quarters was $1.21B, up 19.2% from a year earlier.
PromtFinance scores
Each score is a percentile within the Healthcare sector (0–100). Under each score: how the stock ranks in its sector on every component. As of Oct 5, 2026.
How fast revenue, earnings and cash flow are growing.
- Revenue growth (TTM, YoY)Top 34%
- EPS growth (TTM, YoY)Top 29%
- FCF growth (TTM, YoY)Bottom 30%
- Revenue growth, 3-year CAGRTop 38%
- Revenue growth accelerationTop 39%
Returns on capital, margins, earnings quality and balance-sheet strength.
- Return on invested capitalTop 27%
- Gross marginTop 44%
- Operating marginTop 11%
- Cash conversion (OCF / net income)Top 27%
- Accruals (lower is better)Bottom 28%
- Net debt / EBITDA (lower is better)Bottom 26%
- Interest coverTop 31%
How cheap the shares are relative to earnings, cash flow and their own history.
- Earnings yieldTop 20%
- Free-cash-flow yieldTop 17%
- EBITDA / enterprise valueTop 16%
- Sales / enterprise valueBottom 46%
Strength and persistence of the price trend, including versus the S&P 500.
- 12-month return excluding last monthBottom 17%
- 6-month returnBottom 47%
- 1-year return vs S&P 500Bottom 20%
- Distance from 52-week highBottom 42%
- Trend checklist (0–4)Top 20%
Earnings surprises and analyst sentiment (estimate-revision history is being collected).
- Average EPS surprise, last 4 quartersTop 49%
- Consecutive EPS beatsTop 35%
- Share of analysts rating BuyTop 22%
- Upside to consensus price targetBottom 35%
Low volatility, shallow drawdowns, low market sensitivity and modest leverage.
- Volatility, 60 days (lower is better)Bottom 49%
- Maximum drawdown, 3 yearsTop 37%
- Beta vs S&P 500 (lower is better)Top 50%
- Net debt / EBITDA (lower is better)Bottom 26%
What changed
Latest four quarters versus the same period a year earlier (growth: versus one quarter earlier).
| Measure | Before | Now | |
|---|---|---|---|
| Revenue growth (YoY) | 18.6% | 19.2% | ↑ |
| EPS growth (YoY) | 412.6% | 45.6% | ↓ |
| Gross margin | 67.3% | 69.1% | ↑ |
| Operating margin | 20.8% | 22.9% | ↑ |
| FCF margin | 27.5% | 20.4% | ↓ |
Fundamental momentum
| Measure | Now (TTM) | Year / quarter before | Sector rank | |
|---|---|---|---|---|
| Revenue growth (TTM, YoY) | 19.2% | 18.6% | ↑ | Top 34% |
| EPS growth (TTM, YoY) | 45.6% | 412.6% | ↓ | Top 29% |
| Gross margin | 69.1% | 67.3% | ↑ | Top 44% |
| Operating margin | 22.9% | 20.8% | ↑ | Top 11% |
| Net margin | 11.2% | 8.5% | ↑ | — |
| Free-cash-flow margin | 20.4% | 27.5% | ↓ | — |
| Return on invested capital | 3.4% | — | Top 27% | |
| Revenue growth, 3-year CAGR | 16.0% | — | Top 38% |
Quality of earnings and balance sheet
- Cash conversion (OCF / net income)Above 1× means profits are backed by cash.
- 2.17×
- Accruals (net income − OCF) / assetsLower is better; high accruals can signal weaker earnings quality.
- -2.7%
- Stock-based compensation / revenueA cost to shareholders through dilution.
- 4.1%
- Receivables growth vs revenue growthReceivables growing much faster than sales can be a warning.
- +10.3 pp
- Net debt / EBITDABelow 1× is conservative; above 3× is high leverage.
- 3.40×
- Interest cover (operating income / interest)How many times operating profit covers interest.
- 3.4×
Shareholder returns
- Dividend yield (dividends paid, TTM)
- 0.00%
- Net buyback yield (TTM)
- -0.14%
- Shareholder yield
- -0.14%
- Share count change, 1 year
- +7.1%
- Share count change, 3-year CAGR
- +5.3%
Shareholder yield = dividends + net buybacks over the last four quarters, divided by market cap.
Based on the four quarters through Jun 30, 2026 (filed Jul 29, 2026).
Earnings and expectations
Earnings momentum
- Consecutive EPS beats
- 2
- Beats in the last 8 reports
- 6 of 8
- Average EPS surprise, last 4
- +4.2%
- Average 2-day reaction, last 8
- +1.7%
- Positive 20 days after report
- 5 of 8
Analysts
- Consensus price target
- $32.33
- Target vs current price
- +30.3%
- Analysts with a rating
- 17
- Share rating Buy or Strong Buy
- 94%
- Consensus rating
- Buy
How the stock reacted to recent reports
| Report date | EPS surprise | 2 days | 5 days | 20 days | 60 days |
|---|---|---|---|---|---|
| Jul 29, 2026 | +8.0% | +3.5% | +0.3% | +2.2% | — |
| Apr 29, 2026 | +7.7% | +0.2% | -18.3% | -24.5% | -10.8% |
| Feb 17, 2026 | -7.7% | +8.5% | +8.7% | +9.8% | -13.5% |
| Oct 29, 2025 | +8.8% | +0.3% | -5.1% | -6.4% | -25.1% |
| Jul 30, 2025 | +9.1% | -0.1% | -2.4% | +4.1% | +5.6% |
| Apr 30, 2025 | +0.0% | +0.4% | +9.1% | +3.7% | -3.2% |
| Feb 18, 2025 | +93.3% | -0.5% | -7.2% | -19.4% | -13.8% |
| Nov 6, 2024 | +27.3% | +1.5% | +6.7% | +3.0% | +41.5% |
Returns from the close before each report. Past reactions do not determine future ones.
Earnings history
| Report date | EPS | Estimate | Surprise | Revenue |
|---|---|---|---|---|
| Jul 29, 2026 | $0.43 | $0.40 | +8.0% | $319.7M |
| Apr 29, 2026 | $0.42 | $0.39 | +7.7% | $313.9M |
| Feb 17, 2026 | $0.36 | $0.39 | -7.7% | $303.5M |
| Oct 29, 2025 | $0.37 | $0.34 | +8.8% | $268.7M |
| Jul 30, 2025 | $0.36 | $0.33 | +9.1% | $270.7M |
| Apr 30, 2025 | $0.32 | $0.32 | +0.0% | $256.4M |
| Feb 18, 2025 | $0.29 | $0.15 | +93.3% | $244.1M |
| Nov 6, 2024 | $0.14 | $0.11 | +27.3% | $240.1M |
Valuation in context
| Multiple | Now | 5-year median | 5-year percentile | Sector rank (cheapness) |
|---|---|---|---|---|
| P/E (trailing) | 35.4× | — | — | Top 20% |
| P/E (forward) | 14.9× | — | — | — |
| EV / EBITDA | 14.4× | — | — | Top 16% |
| EV / Sales | 5.16× | — | — | Bottom 46% |
| Free-cash-flow yield | 5.18% | — | — | Top 17% |
| Earnings yield | 2.82% | — | — | Top 20% |
P/E over the past five years
Range 35.0× – 284.4× since Mar 31, 2025. Each point: price on the filing date divided by trailing-twelve-month EPS known then.
What moved the stock over the past year
- Price return, 1 year
- -33.2%
- Earnings per share growth (TTM)
- +45.6%
- Change in P/E multiple
- -52.8%
Most of the move came from a change in the valuation multiple.
Technical state
Trend checklist
- ✗ Price above 20-day average
- ✓ Price above 50-day average
- ✓ Price above 200-day average
- ✓ 50-day average above 200-day
- ✗ MACD histogram positive
Trend quality
- Days above the 50-day average
- 15
- Days above the 200-day average
- 14
- 50-day average slope (20 days)
- +5.3%
- 200-day average slope (20 days)
- -3.7%
- Distance from 50-day average
- +0.8%
- Distance from 200-day average
- +1.8%
- RSI (14)
- 48.3
- Relative volume
- 0.83×
Risk and drawdowns
- Volatility, 60 days (annualized)
- 55.9%
- Volatility vs own 5-year history
- 80th percentile · Normal for this stock
- Beta vs S&P 500 (2 years, weekly)
- 1.11
- Correlation with S&P 500
- 0.36
- Current drawdown from 1-year high
- -37.4%
- Maximum drawdown, 3 years
- -61.8%
Largest declines in the past six years
| From peak | To low | Decline | Length | Recovery |
|---|---|---|---|---|
| Feb 14, 2025 | Jun 22, 2026 | -61.8% | 337 days | Not yet recovered |
Declines of 10% or more from a closing high, measured on daily closes.
Financial statements
- Market cap
- $4.76B
- P/E (TTM)
- 35.4
- EPS, diluted (TTM)
- $0.70
- Revenue (TTM)
- $1.21B
- 52-week range
- $17.26 – $40.35
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|
| Revenue | $578.6M | $704.9M | $791.0M | $943.5M | $1.10B |
| Gross profit | $426.8M | $490.0M | $541.2M | $627.8M | $751.1M |
| Operating income | $60.3M | $89.5M | $142.1M | $123.7M | $249.3M |
| Net income | -$47.1M | -$51.5M | -$51.3M | -$19.1M | $112.1M |
| EPS (diluted) | -$0.28 | -$0.31 | -$0.31 | -$0.13 | $0.61 |
| Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | Q2 2026 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $240.1M | $244.1M | $256.4M | $270.7M | $268.7M | $303.5M | $313.9M | $319.7M |
| Net income | $5.4M | $19.1M | $29.3M | $32.2M | $30.6M | $20.0M | $43.3M | $40.9M |
| EPS (diluted) | $0.03 | $0.11 | $0.16 | $0.18 | $0.17 | $0.10 | $0.22 | $0.21 |
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|
| Operating cash flow | $106.4M | $102.6M | $51.5M | $169.8M | $309.7M |
| Capital expenditure | -$14.5M | -$17.4M | -$21.5M | -$27.3M | -$26.5M |
| Free cash flow | $91.9M | $85.2M | $29.9M | $142.5M | $283.2M |
| Dividends paid | $0 | $0 | $0 | $0 | $0 |
| Net share buybacks | -$715,000 | -$1.8M | -$263,000 | $1.02B | $25.8M |
Cash outflows are shown as negative numbers.
- Cash and short-term investments
- $191.6M
- Total assets
- $5.87B
- Total liabilities
- $1.88B
- Total debt
- $1.48B
- Net debt
- $1.47B
- Shareholders’ equity
- $3.99B
As of Jun 30, 2026 (filed Jul 29, 2026).
Short interest
- Shares sold short
- 15,171,764
- Days to cover
- 7.48
- Change vs previous report
- +7.5%
FINRA short interest, settlement date Sep 15, 2026.