Last 14 quarters of trend data · Technology · Information Technology Services
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
Waystar Holding Corp.'s quarterly P/E stands at 27.4x, down 53.0% year-over-year — suggesting improving earnings relative to price. EV/EBITDA has compressed 51.1% YoY to 9.6x, reflecting multiple compression or accelerating EBITDA.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 30.74 | 27.42 | 81.88 | 55.76 | 56.76 | 58.38 | 83.41 | 227.12 | — | — | — | — | — |
| — | -53.0% | -1.8% | -75.4% | — | — | — | — | — | — | — | — | — | |
| P/S Ratio | 3.27 | 3.75 | 5.32 | 6.40 | 6.86 | 6.58 | 6.73 | 5.12 | 3.82 | — | — | — | — |
| — | -43.0% | -20.9% | +25.0% | +79.5% | — | — | — | — | — | — | — | — | |
| P/B Ratio | 0.95 | 1.20 | 1.67 | 2.13 | 2.34 | 2.16 | 2.13 | 1.61 | 1.22 | — | — | — | — |
| — | -44.6% | -21.9% | +32.5% | +92.3% | — | — | — | — | — | — | — | — | |
| P/FCF | 12.70 | 16.92 | 28.24 | 22.56 | 20.39 | 28.69 | 28.07 | 17.50 | 104.38 | — | — | — | — |
| — | -41.0% | +0.6% | +28.9% | -80.5% | — | — | — | — | — | — | — | — | |
| EV / EBITDA | 12.39 | 9.65 | 16.95 | 20.57 | 21.34 | 19.74 | 20.99 | 17.23 | 23.28 | — | — | — | — |
| — | -51.1% | -19.2% | +19.3% | -8.4% | — | — | — | — | — | — | — | — | |
| EV / EBIT | 18.93 | 14.62 | 25.98 | 32.42 | 32.33 | 29.85 | 36.01 | 55.44 | 148.32 | — | — | — | — |
| — | -51.0% | -27.9% | -41.5% | -78.2% | — | — | — | — | — | — | — | — |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
Waystar Holding Corp.'s operating margin was 25.6% in Q1 2026, up 0.6 pp QoQ and up 0.2 pp YoY. This marks the 3rd consecutive quarter of margin expansion, signaling a sustained improvement in operating efficiency. The trailing four-quarter average of 24.3% lags the current quarter, suggesting the recent improvement is above-trend.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 64.6% | 69.1% | 56.2% | 68.3% | 67.8% | 67.5% | 67.4% | 66.5% | 65.7% | 66.6% | 67.5% | 68.1% | 69.1% |
| — | +2.3% | -16.7% | +2.8% | +3.3% | +1.4% | -0.1% | -2.4% | -5.0% | -3.6% | -4.3% | — | — | |
| Operating Margin | 24.2% | 25.6% | 25.0% | 22.4% | 24.0% | 25.4% | 21.8% | 11.3% | 3.5% | 15.7% | 18.2% | 16.3% | 19.0% |
| — | +0.8% | +14.9% | +98.3% | +581.6% | +62.4% | +19.4% | -30.8% | -81.5% | -14.5% | +16.4% | — | — | |
| Net Margin | 10.2% | 13.8% | 6.6% | 11.4% | 11.9% | 11.4% | 7.8% | 2.3% | -11.8% | -7.1% | -7.0% | -7.9% | -5.5% |
| — | +20.8% | -15.7% | +406.0% | +200.7% | +261.0% | +212.1% | +128.7% | -114.0% | -27.5% | -56.6% | — | — |
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 3.2% | 1.1% | 0.6% | 1.0% | 1.0% | 0.9% | 0.6% | 0.2% | -1.1% | -0.8% | -0.7% | -0.7% | -0.5% |
| — | +17.4% | -9.5% | +431.0% | +191.9% | +221.0% | +189.2% | +124.4% | -115.7% | -54.6% | -81.2% | — | — | |
| ROA | 2.1% | 0.7% | 0.4% | 0.7% | 0.7% | 0.6% | 0.4% | 0.1% | -0.6% | -0.3% | -0.3% | -0.3% | -0.2% |
| — | +15.3% | -10.7% | +447.0% | +214.3% | +283.0% | +233.4% | +135.6% | -160.8% | — | -86.1% | — | — | |
| ROIC | 4.2% | 1.3% | 1.2% | 1.1% | 1.2% | 1.2% | 1.0% | 0.5% | 0.1% | 0.6% | 0.7% | 0.6% | 0.7% |
| — | +11.1% | +27.1% | +128.1% | +706.1% | +89.6% | +44.8% | -14.5% | -77.8% | -24.4% | +32.8% | — | — |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
Waystar Holding Corp.'s Debt/EBITDA ratio is 0.3x, down from 12.9x last quarter — comfortably within a safe range. The current ratio has weakened 43.6% YoY to 1.76x, tightening the short-term liquidity position. Debt/Equity has declined for 6 consecutive quarters, reflecting a deleveraging trend.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.39 | 0.01 | 0.39 | 0.39 | 0.40 | 0.40 | 0.41 | 0.40 | 0.47 | 1.12 | 1.10 | 1.08 | 1.08 |
| — | -98.1% | -5.5% | -2.7% | -15.3% | -64.0% | -62.6% | -62.7% | -56.6% | — | +2.2% | — | — | |
| Debt / EBITDA | 3.69 | 0.25 | 12.92 | 13.54 | 12.77 | 12.77 | 13.85 | 14.12 | 26.21 | 28.67 | 27.30 | 29.69 | 27.76 |
| — | -98.0% | -6.8% | -4.1% | -51.3% | -55.5% | -49.2% | -52.4% | -5.6% | — | -9.3% | — | — | |
| Current Ratio | 1.41 | 1.76 | 1.41 | 3.89 | 3.43 | 3.12 | 2.55 | 2.29 | 2.15 | 1.90 | 1.80 | 2.10 | 2.30 |
| — | -43.6% | -44.5% | +69.6% | +59.5% | +64.3% | +41.7% | +9.1% | -6.5% | — | -14.1% | — | — | |
| Quick Ratio | 1.41 | 1.76 | 1.41 | 3.89 | 3.43 | 3.12 | 2.55 | 2.29 | 2.15 | 1.90 | 1.80 | 2.10 | 2.30 |
| — | -43.6% | -44.5% | +69.6% | +59.5% | +64.3% | +41.7% | +9.1% | -6.5% | — | -14.1% | — | — | |
| Interest Coverage | 3.36 | 4.08 | 3.00 | 3.57 | 3.55 | 3.45 | 2.65 | 1.47 | 0.16 | 0.62 | 0.71 | 0.61 | 0.73 |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
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Waystar Holding Corp.'s current P/E is 30.7x. The average P/E over the last 4 quarters is 55.5x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Waystar Holding Corp.'s current operating margin is 24.2%. Margins have been expanding over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking Waystar Holding Corp.'s business trajectory between earnings reports.