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| Date | Value |
|---|---|
| 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% |