Health score, competitive moat, risk signals, and key metrics at a glance.
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.
Competitive analysis based on 8 quarters of fundamental data
Operating margins are expanding at ~18.8%, suggesting durable pricing power and cost discipline.
ROE is positive at ~2.3% on average, adequate but below the threshold typically associated with wide moats.
Data-driven red flags and warnings across 8 quarters
Margins are stable or improving at ~22.9% — no sign of cost or pricing stress.
FCF covers net income by 5.4x on average — earnings are well-supported by cash generation.
D/E ratio is 0.4 — conservative capital structure with low financial risk.
Revenue is stable or growing over recent quarters — demand appears durable.
Free cash flow is consistently positive — the business self-funds without external capital reliance.
Shares outstanding increased 43.5% — significant dilution, likely from stock compensation or capital raises.
as of March 2026
Revenue, EBITDA, operating income, net income, EPS, and shares
Gross, EBITDA, operating, and net margin trends
P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield
Total assets, cash, debt, book value, and leverage
Operating cash flow, free cash flow, FCF margin, and earnings quality
Free cash flow is consistently positive and growing — a hallmark of a capital-light business that can self-fund growth.
Revenue has been flat or declining over recent quarters, which may indicate eroding demand or competitive pressure.
