Waystar Holding (WAY) Fair Value & Analysis
Healthcare · US · Market cap $4.3B
Waystar Holding
WAY · US
Fair value as of: Jul 16, 2026
From 24 valuation models · updated 25 days ago
Share price +6.6% over the past month.
Below-average quality, and screening another 55% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case ($13.66). The favourable scenario is already priced in.
- Solid but not exceptional quality (49/100) and above fair value, neither a clear bargain nor a standout compounder.
Price vs Fair Value (2 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 16, 2026.
How to read this chart
26‑month range $17.31 – $45.35 · fair‑value band $8.19 – $13.66 · the $24.23 price screens above the $10.93 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 16, 2026.
Analysis
Waystar Holding (WAY) currently trades at $24.23, while our model-based Fair Value estimate is $10.93, implying the stock looks roughly 54.9% overvalued today. The Quality Score stands at 49/100 (below-average quality), in the Healthcare sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).
Over the trailing twelve months, Waystar Holding generated revenue of $1.2B at a net margin of 10.9%. Revenue grew 22.4% year over year. It earns a return on equity of 3.6%. Net debt stands at $1.4B. Fundamentals as of Jul 16, 2026
Our scenario range runs from $8.19 (bear case) to $13.66 (bull case); at $24.23, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The last reported earnings sit well below what analysts expect (earnings in transition, for example after write-downs or an earnings dip); whether the stock is cheap or expensive hinges on the expected recovery actually arriving. Read the fair value with that caveat. The share trades about 42% below its 52-week high and 35% above its 52-week low, currently below its 200-day average. For context, the median of 10 Healthcare peers we cover trades at -62% fair-value upside, at -55%, WAY screens cheaper than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.
All 24 models by family
Widest divergence: DCF Models ($21.29) versus Economic Profit ($4.05). Highest evidence: Growth DCF (80).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 16, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 50 · Market factors (momentum, volatility) 37
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
About the company
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.
Full company description
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.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Waystar Holding reported revenue of $1.1B in FY2025 versus $579M in FY2021, a compound +17.4%/yr. Reported net income was $112M in FY2025.
WAY screens 55% overvalued. Compare with Veeva Systems Inc →
Recent news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- Waystar (WAY) Upgraded to Buy: What Does It Mean for the Stock?
- WAY vs. ADSK: Which Stock Is the Better Value Option?
- Waystar Holding Corp (WAY) (Q2 2026) Earnings Call Highlights: Revenue Surges 18% as AI-Driven ...
- Waystar Q2 Earnings Call Highlights
Peer Group
Health Information Services · 127 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Health Information Services median · lower = cheaper
Snowflake
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
VALUE 0: the price sits above our fair-value range.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Health Information Services stocks, each showing price versus our Fair Value estimate (as of Jul 16, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Veeva Systems Inc VEEV | $190.12 | $95.12 | -50% |
| Pro Medicus Limited PME | A$194.84 | A$23.74 | -88% |
| BrightSpring Health Services, Inc BTSG | $68.16 | $21.31 | -69% |
| HealthEquity, Inc HQY | $97.67 | $56.63 | -42% |
| Hinge Health, Inc HNGE | $88.80 | $24.03 | -73% |
| 10x Genomics, Inc TXG | $45.75 | $17.18 | -62% |
| Doximity, Inc DOCS | $22.21 | $17.18 | -23% |
| Privia Health Group PRVA | $28.10 | $5.30 | -81% |
| Inventurus Knowledge Solutions Limited IKS | ₹1,846 | ₹860.28 | -53% |
| Winning Health Technology Group 300253 | ¥6.54 | ¥1.18 | -82% |
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Frequently asked questions
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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