Waystar Holding (WAY) FCF Margin (2023 - 2026)

Waystar Holding's (WAY) quarterly FCF Margin came in at 22.17% in Q1 2026, down 286.0% year-on-year from 11.92% in Q1 2025, and up 3.85% quarter-over-quarter from 21.35% in Q4 2025.

Waystar Holding (WAY) FCF Margin (2023 - 2026) Analysis & Trends

Waystar Holding's FCF Margin history runs 4 years deep, the most recent figure standing at 22.17% for Q1 2026.

  • On a quarterly basis, FCF Margin fell 286.0% year-over-year to 22.17% in Q1 2026; TTM through Mar 2026 was 27.03%, a 690.0% increase from a year earlier, with the FY2025 full-year figure at 27.95%, up 1285.0% from the prior year.
  • FCF Margin rose to 22.17% in Q1 2026 per WAY's latest filing, from 21.35% in the prior quarter.
  • Across five years, FCF Margin topped out at 35.79% in Q2 2025 and bottomed at 0.51% in Q3 2023.
  • The 4-year median for FCF Margin is 21.35% (2025), against an average of 18.06%.
  • Across the five-year window, FCF Margin surged 3327 bps in 2024 and sank 286 bps in 2026, its largest moves.
  • Year by year, FCF Margin stood at 5.03% in 2023, then surged by 210 bps to 15.6% in 2024, then surged by 37 bps to 21.35% in 2025, then climbed by 4 bps to 22.17% in 2026.
  • Per Business Quant, the three latest WAY FCF Margin figures stand at 22.17% (Q1 2026), 21.35% (Q4 2025), and 30.31% (Q3 2025).

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) FCF Margin (Qtr)
1 Veeva Systems 31.83 Bn 24.52 Bn 662.02 Mn 127.46%
2 BrightSpring Health Services 14.58 Bn 13.68 Bn 482.22 Mn 2.81%
3 Healthequity 8.29 Bn 8.02 Bn 256.31 Mn 23.01%
4 Hinge Health 5.96 Bn 5.65 Bn 154.23 Mn 23.59%
5 10x Genomics 5.79 Bn 5.26 Bn 106.18 Mn 17.24%
6 MiniMed 4.49 Bn 4.19 Bn 480.00 Mn -27.00%
7 Waystar Holding 4.49 Bn 4.42 Bn 216.84 Mn 22.17%
8 Doximity 3.98 Bn 3.23 Bn 125.97 Mn 79.91%
9 Privia Health 3.18 Bn 2.76 Bn - -8.03%
10 Omnicell 1.86 Bn 1.62 Bn 140.36 Mn 18.01%

Historic Data

Download Data
DateValue
Mar 31, 2026 22.17%
Dec 31, 2025 21.35%
Sep 30, 2025 30.31%
Jun 30, 2025 35.79%
Mar 31, 2025 25.03%
Dec 31, 2024 15.60%
Sep 30, 2024 32.77%
Jun 30, 2024 6.54%
Mar 31, 2024 4.63%
Dec 31, 2023 5.03%
Sep 30, 2023 -0.51%