Waystar Holding Corp
Research Waystar Holding Corp (WAY) on Bullrun: valuation model: 9.0% undervalued, market cap USD 4.65B, P/E 34.5. Explore financials, valuation history, model signals, and stock context.
Key Metrics
- TickerWAY
- ExchangeNASDAQ
- CountryUnited States
- SectorHealthcare
- IndustryHealth Information Services
- CurrencyUSD
- Valuation signal9.0% undervalued
- Market capUSD 4.65B
- P/E34.5
- Financial periodQ2 2026
- RevenueUSD 319.67M
- Net incomeUSD 40.87M
- Free cash flowUSD 43.30M
- Gross margin69.4%
Valuation Snapshot
Bullrun's latest valuation model marks Waystar Holding Corp as 9.0% undervalued; latest market cap is USD 4.65B; P/E is 34.5.
Peer valuation comparison
Latest P/E is 34.47x versus a Healthcare sector median of 24.46x (40.9% above).
Latest P/E is 34.47x versus a United States median of 24.87x (38.6% above).
Five-year financial history
| Year | Revenue | Net income | Free cash flow | Gross margin | Diluted EPS | Cash | Total debt | Equity |
|---|---|---|---|---|---|---|---|---|
| FY2025 | USD 1.10B | USD 112.10M | USD 283.19M | 68.3% | 0.61 | USD 61.36M | USD 1.47B | USD 3.88B |
| FY2024 | USD 943.55M | -USD 19.10M | USD 142.50M | 66.5% | -0.13 | USD 182.13M | USD 1.23B | USD 3.08B |
| FY2023 | USD 791.01M | -USD 51.33M | USD 29.94M | n/a | -0.42 | USD 35.58M | USD 2.22B | USD 2.05B |
| FY2022 | USD 704.87M | -USD 51.46M | USD 85.20M | n/a | -0.42 | USD 64.56M | n/a | USD 2.11B |
Valuation history
| Year | Snapshot date | Market cap | P/E | Dividend yield | Annual dividend/share |
|---|---|---|---|---|---|
| 2026 | 2026-08-25 | USD 4.65B | 34.5 | n/a | n/a |
| 2025 | 2025-12-31 | USD 6.27B | 53.7 | n/a | n/a |
| 2024 | 2024-12-31 | USD 6.32B | n/a | n/a | n/a |
About Waystar Holding Corp
Waystar Holding Corp. develops a cloud-based software solution for healthcare payments. Its platform offers financial clearance, patient financial care, claim and payer payment management, denials prevention and recovery, clinical integrity and revenue capture, and analytics and reporting solutions. It primarily serves healthcare industry. The company was founded in 2017 and is headquartered in Lehi, Utah.
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Frequently asked questions
Is Waystar Holding Corp overvalued or undervalued?
Bullrun's valuation model currently marks Waystar Holding Corp as 9.0% undervalued.
What is Waystar Holding Corp's market cap?
Waystar Holding Corp's market capitalization is USD 4.65B.
What is Waystar Holding Corp's P/E ratio?
Waystar Holding Corp's price-to-earnings (P/E) ratio is 34.5.
What does Waystar Holding Corp do?
Waystar Holding Corp. develops a cloud-based software solution for healthcare payments. Its platform offers financial clearance, patient financial care, claim and payer payment management, denials prevention and recovery, clinical integrity and revenue capture, and analytics and reporting solutions. It primarily serves healthcare industry. The company was founded in 2017 and is headquartered in Lehi, Utah.