SuperworthWaystar WAY
- Market cap
- $5.5B
- PE
- 41.2×
- 1y median 45.6×
- Forward PE
- n/m
- not a meaningful number
- Price to sales
- 4.6×
- EV/EBIT
- 24.5×
- Revenue, 12 months
- $1.2B
- +19% on a year ago
- Net margin
- 11.2%
- Free cash flow yield
- 4.5%
Waystar trades at 41.2× trailing earnings, near its ten-year median. Revenue was $1.2B over the last twelve months, up 19% on a year earlier with a 11% net margin.
Charts
Financials
| Income statement | Q3 FY23 | Q4 FY23 | Q1 FY24 | Q2 FY24 | Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| $197.3M | $206.7M | $224.8M+18% | $234.5M+20% | $240.1M+22% | $244.1M+18% | $256.4M+14% | $270.7M+15% | $268.7M+12% | $303.5M+24% | $313.9M+22% | $319.7M+18% | |
| Cost of revenue | $62.9M | $67.2M | $75.2M+27% | $80.5M+33% | $80.5M+28% | $79.5M+18% | $83.3M+11% | $87M+8% | $85.1M+6% | $92.6M+17% | $97M+16% | $97.7M+12% |
| Gross profit | $134.3M | $139.5M | $149.6M+13% | $154.1M+14% | $159.6M+19% | $164.6M+18% | $173.1M+16% | $183.6M+19% | $183.5M+15% | $210.9M+28% | $216.8M+25% | $222M+21% |
| R&D | $9M | $9.8M | $10.3M+24% | $15.9M+93% | $11.1M+24% | $11.5M+17% | $11.1M+7% | $12.6M−21% | $12.4M+12% | $18.5M+61% | $18.4M+66% | $17.7M+40% |
| SG&A | $49.5M | $47.3M | $59.9M+34% | $85.7M+87% | $61.2M+24% | $61.9M+31% | $63.4M+6% | $72.7M−15% | $77.6M+27% | $92.9M+50% | $76.6M+21% | $86.8M+19% |
| $32.2M | $37.7M | $35.2M+1% | $8.2M−78% | $27.1M−16% | $53.1M+41% | $65.2M+85% | $64.8M+687% | $60.2M+122% | $59M+11% | $80.5M+23% | $76M+17% | |
| Interest expense | $52.4M | $52.9M | $57.2M+16% | $50.5M−1% | $18.5M−65% | $20.1M−62% | $18.9M−67% | $18.3M−64% | $17.5M−5% | $22.9M+14% | $20.6M+9% | $19.6M+8% |
| Pre-tax income | −$20.2M | −$15.2M | −$22M+52% | −$42.3M+203% | $8.7M | $33.1M | $46.3M | $46.6M | $42.7M+392% | $36.1M+9% | $59.8M+29% | $56.4M+21% |
| −$4.7M | −$757K | −$6.1M+56% | −$14.6M+364% | $3.3M | $14M | $17M | $14.4M | $12.1M+269% | $16.2M+16% | $16.5M−3% | $15.5M+8% | |
| Net income | −$15.5M | −$14.4M | −$15.9M+50% | −$27.7M+156% | $5.4M | $19.1M | $29.3M | $32.2M | $30.6M+466% | $20M+5% | $43.3M+48% | $40.9M+27% |
| −$0.13 | −$0.12 | −$0.13+44% | −$0.21+133% | $0.03 | $0.11 | $0.16 | $0.18 | $0.17+467% | $0.10−9% | $0.22+38% | $0.21+17% | |
| 121.7M | 121.7M | 121.7M+0% | 133.5M+10% | 176.2M+45% | 172.4M+42% | 180.7M+49% | 181.6M+36% | 181.2M+3% | 195.5M+13% | 195.2M+8% | 194.5M+7% |
Revenue: Q1 FY23 and Q1 FY24: 6 months less the 3 months printed beside them.
Cost of revenue: Q1 FY23 and Q1 FY24: 6 months less the 3 months printed beside them.
Gross profit: Q1 FY23 and Q1 FY24: 6 months less the 3 months printed beside them. 12 periods, Q2 FY23 to Q2 FY26: not printed by the filing, worked out from its own lines.
R&D: Q1 FY23 and Q1 FY24: 6 months less the 3 months printed beside them.
SG&A: Q1 FY23 and Q1 FY24: 6 months less the 3 months printed beside them.
Operating income: Q1 FY23 and Q1 FY24: 6 months less the 3 months printed beside them.
Interest expense: Q1 FY23 and Q1 FY24: 6 months less the 3 months printed beside them.
Pre-tax income: Q1 FY23 and Q1 FY24: 6 months less the 3 months printed beside them.
Income tax: Q1 FY23 and Q1 FY24: 6 months less the 3 months printed beside them.
Net income: Q1 FY23 and Q1 FY24: 6 months less the 3 months printed beside them.
EPS, diluted: 5 periods, Q1 FY23 to Q4 FY25: quarter's net income to common over its shares, to the cent.
Diluted shares: Q1 FY23 and Q1 FY24: share-days: the 6-month average less the second quarter's. Q4 FY23: a loss quarter: its basic count, share-days: the 12-month average less the 9-month, weighted by days. Q4 FY24 and Q4 FY25: share-days: the 12-month average less the 9-month, weighted by days.
From each company's 10-Q and 10-K filings, the newest version of each figure. Quarters are as filed (a fourth quarter is the year less its first nine months), fiscal years as the 10-K prints them, restated where a later 10-K restated them, and balance sheet lines as of the period's end. A quarter whose 10-Q isn't filed yet is from the company's results release. Growth is on the same period a year earlier. A dash is a period with no figure for the line: the filing doesn't print it, or it hasn't been read yet.
Peers
Companies in Software - Infrastructure nearest Waystar's size, closest first.
| Company | Market cap | PE | Its 10y median PE | Fwd PE | P/S | Revenue growth | Net margin |
|---|---|---|---|---|---|---|---|
| WAYWaystar | $5.5B | 41.2× | 45.6× | 4.6× | +19% | 11.2% | |
| ACIWACI Worldwide | $5.6B | 25.6× | 32.6× | 3.1× | +7% | 12.4% | |
| PSNParsons | $5.2B | 33.8× | 47.1× | 0.8× | −6% | 2.5% | |
| BBBLACKBERRY | $5.2B | 74.3× | 102× | 8.5× | +14% | 13.1% | |
| BOXBox | $5.9B | 62.6× | 40.7× | 4.8× | +10% | 10.6% | |
| SAICScience Applications International | $6.1B | 17.0× | 19.7× | 0.8× | −1% | 5.1% | |
| YOUClear Secure | $6.1B | 30.9× | 30.3× | 6.1× | +20% | 14.8% | |
| WKWorkiva | $4.7B | 103× | 197× | 4.8× | +20% | 4.9% | |
| OTEXOpen Text | $6.8B | 10.8× | 37.6× | 1.3× | +2% | 12.3% | |
| CCCCCC Intelligent Solutions | $4.5B | 95.9× | 164× | 4.1× | +12% | 3.8% | |
| CVLTCommvault Systems | $7B | 108× | 94.4× | 5.8× | +15% | 5.6% | |
| Peer median | $5.8B | 48.2× | 43.9× | 4.4× | +11% | 8.1% |
Investors who own it
Investors we follow who held Waystar at the end of Jun 30, 2026, from their 13F filings.
- Ron BaronBaron Capital0.1% of portfoliotrimmed
More on Waystar
Each number over time
- PE ratio
- Price to sales ratio
- EV/EBIT
- Price to free cash flow
- Price to book ratio
- Market cap
- Revenue
- EPS
- Free cash flow
- Profit margin
- Shares outstanding
Its groups
About
- Industry
- Software - Infrastructure
- Sector
- Technology
Valuation data, not investment advice. Prices as of .