# Waystar Holding Corp. (WAY) fundamentals

Data as of 2026-09-08. NASDAQ, United States. Sector: Healthcare / Health Care Technology. Price $25.07, market value $4.8 billion.

## Valuation
- **P/E (trailing): 35.8×** (5-yr avg 53.7×, 3-yr avg 53.7×). Waystar Holding Corp. trades at 35.8× trailing earnings, well below its own five-year average of 53.7×: cheap by its own standards. The Healthcare median in the September 2026 study was 28.5×. Forward P/E is 13.3×, lower than trailing, so analysts expect earnings to grow.
- **PEG: 0.02**. A PEG of 0.02 means the P/E is low relative to expected earnings growth: the market is not paying much for that growth.
- **Price / sales: 4.0×**. Each dollar of revenue is priced at 4.0×.
- **Price / book: 1.2×**. The shares trade at 1.2× book value; book value is a meaningful part of the valuation.
- **EV / EBITDA: 14.4×**. Enterprise value is 14.4× operating earnings before depreciation, the multiple that ignores how the company is financed.
- **Free-cash-flow yield: 5.1%** (5-yr avg 3.6%). Free cash flow equals 5.1% of the market value, above its five-year average of 3.6%, so the shares are cheaper on cash than they have usually been. Above 5% is generally attractive.
- **Earnings yield: 2.8%**. The inverse of the P/E: 2.8% of the price is earned each year.

## Profitability
- **Operating margin: 22.9%**. 22.9% of revenue is left after running the business, a healthy level in most sectors.
- **Net margin: 10.2%**. 10.2% of each dollar of sales reaches the bottom line.
- **Return on equity: 2.9%**. 2.9% on shareholders' equity is weak; the business earns little on the capital its owners have in it.
- **Return on invested capital: 4.1%**. Return on all capital, debt included, is 4.1%: close to or below the cost of capital, so growth may not create value.
- **Return on assets: 2.3%**. Each dollar of assets produces 2.3% of profit.

## Growth
- **Revenue growth (1 yr): 16.5%** (3-yr 16.0%/yr). Revenue grew 16.5% over the last year.
- **EPS growth (1 yr): 569.2%**. Earnings per share rose 569.2%, faster than revenue, so margins expanded or the share count shrank.
- **Free-cash-flow growth (3 yr): 49.2%/yr**. Free cash flow has compounded at 49.2% a year over three years.

## Financial health
- **Debt to equity: 0.38**. Debt is 0.38 times equity: a conservative balance sheet.
- **Net debt / EBITDA: 3.3×**. It would take 3.3 years of operating earnings to repay net borrowings, above the 3× level most lenders treat as comfortable.
- **Altman Z-score: 2.78**. A Z-score of 2.78 is in the grey zone; not distressed, not clearly safe.
- **Piotroski F-score: 5/9**. 5 of 9 checks pass: mixed.

## Dividends
- **Dividend: none**. Waystar Holding Corp. does not currently pay a dividend.

## Analyst view
- **Analyst consensus: strong_buy** (23 analysts). 23 analysts cover Waystar Holding Corp.; the consensus is strong_buy, with an average price target of $33.30 (+33% from the current price). Analyst opinion is shown for context; it is not part of the Fundamental Score.

## Price and momentum
- **Total return (1 yr): -32.7%** (YTD -23.5%, 3-mo 25.4%). The shares are down 32.7% over twelve months including dividends.
- **From 52-week high: -39.5%** (45.2% above the low). Trading 40% below its 52-week high, deep in a drawdown.
- **200-day average: below**. The price sits below its 200-day moving average, the usual definition of a downtrend.
- **RSI (14-day): 53**. An RSI of 53 is neutral.
- **Beta (1 yr): 0.60** (volatility 53%). Beta of 0.60 against the S&P 500: the shares move much less than the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=WAY · Page: https://foliofundamentals.com/stocks/way

Not investment advice.