Waystar Holding Corp.
$19.52
-11%Waystar Holding Corp. develops a cloud-based software solution for healthcare payments. Its platform offers financial clearance, patient financial care, claim and payment management, denial prevention and recovery, revenue capture, and analytics and reporting solutions. The company primarily serves healthcare industry. Waystar Holding Corp. was founded in 2017 and is based in Lehi, Utah.
At a Glance
Live SnapshotIntrinsic Alpha Methodology
Thesis Lenses
Signal
High confidenceValuation multiple is elevated (P/E 31.0).
Valuation inputs: P/E 31.0, earnings yield +3.2%, momentum -10.9%.
If multiples stay elevated while momentum fades, downside repricing risk rises.
Driver
High confidenceReturn profile is soft (ROE +2.9%, ROIC +3.0%).
Profitability stack: net margin +10.2%, ROE +2.9%, ROIC +3.0%.
Quality deterioration often appears in margins before it shows up in headline EPS.
Risk
High confidenceRisk profile is balanced but has notable pressure points to monitor.
Risk factors: liabilities/assets +34.9%, momentum -10.9%, net margin +10.2%.
Higher leverage with weak momentum and thin margins can amplify drawdown severity.
Waystar Holding Corp. Market vs Earnings Trajectory
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Waystar Holding Corp. Fair Value Envelope
Waystar Holding Corp. Profit Bridge
Profitability Analysis
Gross Margin
Exceptional pricing power and cost management. The company retains over half of revenue after direct costs.
Operating Margin
Healthy operating margins demonstrate effective cost control and strong business fundamentals.
Net Profit Margin
Strong net margins indicate efficient operations and favorable tax/interest management.
Effective Tax Rate
Higher tax burden may reflect limited tax optimization or operations in high-tax jurisdictions.
Profitability Insight
High margin compression: Large gap between gross and net margins suggests operational inefficiencies or heavy debt burden. Focus on expense management and deleveraging.
Waystar Holding Corp. Cash Conversion Engine
Cash Flow Quality Analysis
FCF Conversion Rate
Excellent cash generation. The company converts earnings to cash at or above 100%, indicating high-quality earnings.
CapEx Intensity
Asset-light business model. Low capital requirements leave more cash available for shareholders and growth investments.
FCF Growth Trend
Strong FCF growth demonstrates improving cash generation and business momentum. Positive signal for sustainability.
Working Capital Impact
Minimal working capital impact on FCF. Changes in operating assets and liabilities well-managed.
Cash Flow Quality Insight
Exceptional cash generation: High-quality earnings converting to growing free cash flow. The company demonstrates strong pricing power, efficient operations, and disciplined capital allocation.
Waystar Holding Corp. Funding & Solvency Profile
Financial Health Analysis
Current Ratio
Strong liquidity. The company has adequate resources to meet short-term liabilities.
Debt-to-Equity Ratio
Conservative capital structure. The company relies primarily on equity financing, indicating low financial risk.
Working Capital
Strong working capital position provides significant operational flexibility and financial cushion.
Asset Composition
Capital-intensive business with significant long-term investments in property, equipment, or intangibles.
Financial Health Insight
Strong financial foundation: Excellent liquidity combined with conservative leverage suggests the company is well-positioned to weather economic uncertainties and fund growth opportunities.
Waystar Holding Corp. Street Expectations Map
Wall Street analysts project that WAY stock may rise significantly over the coming 12 months. The consensus 1-year price target stands at 35.62, with estimates ranging from a low of 27.00 to a high of 43.00.
The consensus 1-year price target stands at 35.62, with estimates ranging from a low of 27.00 to a high of 43.00.
Analyst Consensus Analysis
Upside Potential
Substantial upside potential. Analysts see significant value gap, suggesting the stock may be materially undervalued at current levels.
Analyst Agreement
Mixed analyst views. Wide target range suggests differing opinions on key value drivers, growth prospects, or risk factors.
Analyst Conviction
Neutral sentiment. Fair value pricing with moderate agreement suggests wait-and-see approach or catalyst-driven opportunity.
Market Sentiment Insight
Monitor and evaluate: Current analyst consensus suggests limited conviction or near-term catalysts. Stay informed on company developments and reassess positioning as new information emerges.
Waystar Holding Corp. Insider Positioning
During the last 12 months, insiders have purchased $189K and sold $897.14M worth of WAY shares, resulting in $896.96M of net selling activity.
3 Months
0
0.00
0
0.00
+0
+$0
3-6 Months
7.2K
188.99K
58.5K
1.79M
-1.6M
-$1.60M
6-9 Months
0
0.00
22.5M
882.17M
-882.2M
-$882.17M
9-12 Months
0
0.00
347.4K
13.19M
-13.2M
-$13.19M
Top Buyers
Miller Heidi
Director
$189K
Top Sellers
Derby Luxco S.A R.L.
10 Percent Owner
$304.51M
Canada Pension Plan Investment Board
10 Percent Owner
$232.86M
Moskowitz Paul G
Director, 10 Percent Owner:
$168.41M
Bain Capital Investors Llc
10 Percent Owner
$168.41M
Bridge T. Craig
Officer: Chief Transformation Officer
$7.21M
Insider Activity Analysis
Net Insider Sentiment
Strong bearish signal with $896.96M net selling. Heavy insider selling may indicate concerns about valuation or near-term prospects.
Buy/Sell Ratio
Very poor ratio. Heavy selling with minimal buying suggests insiders may be concerned about valuation or outlook.
Insider Participation
5 insider sellers vs. 1 buyers. Widespread selling across multiple insiders may signal concerns.
No Dividend Yield Data
WAY has not reported any dividend yield values in the available annual periods.
way Dividend History
Learning Layer
Related Guides
Build conviction on WAY by pairing this stock hub with focused valuation guides.
Research Paths
Snapshot
Start with context, operating signals, and key market metrics.
Value Model
Stress test fair value across bear, base, and bull assumptions.
Statements
Validate revenue quality, margins, and balance sheet durability.
Earnings Call
Read management commentary and compare it with reported outcomes.
Dividends
Check payout sustainability and long-term distribution behavior.
Analyst Expectations
Review consensus spread and where estimate risk is concentrated.