Waystar Holding (WAY) Net Margin (2023 - 2026)
Waystar Holding's (WAY) quarterly Net Margin came in at 13.79% in Q1 2026, up 238.0% year-on-year from 4.08% in Q1 2025, and up 109.58% quarter-over-quarter from 6.58% in Q4 2025.
Waystar Holding (WAY) Net Margin (2023 - 2026) Analysis & Trends
Waystar Holding's Net Margin history runs 4 years deep, the most recent figure standing at 13.79% for Q1 2026.
- On a quarterly basis, Net Margin rose 238.0% year-over-year to 13.79% in Q1 2026; TTM through Mar 2026 was 10.9%, a 823.0% increase from a year earlier, with the FY2025 full-year figure at 10.2%, up 1222.0% from the prior year.
- Net Margin advanced to 13.79% in Q1 2026 per WAY's latest filing, from 6.58% in the prior quarter.
- Across five years, Net Margin topped out at 13.79% in Q1 2026 and bottomed at 11.8% in Q2 2024.
- The 4-year median for Net Margin is 4.42% (2024), against an average of 2.16%.
- Across the five-year window, Net Margin plunged 629 bps in 2024 and surged 2370 bps in 2025, its largest moves.
- Year by year, Net Margin stood at 6.97% in 2023, then jumped by 212 bps to 7.82% in 2024, then slipped by 16 bps to 6.58% in 2025, then surged by 110 bps to 13.79% in 2026.
- Per Business Quant, the three latest WAY Net Margin figures stand at 13.79% (Q1 2026), 6.58% (Q4 2025), and 11.41% (Q3 2025).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Veeva Systems | 29.34 Bn | 22.03 Bn | 662.02 Mn | 29.55% |
| 2 | BrightSpring Health Services | 13.49 Bn | 12.59 Bn | 482.22 Mn | 4.12% |
| 3 | Healthequity | 7.96 Bn | 7.70 Bn | 256.31 Mn | 19.57% |
| 4 | 10x Genomics | 6.17 Bn | 5.63 Bn | 106.18 Mn | -8.93% |
| 5 | Hinge Health | 6.02 Bn | 5.70 Bn | 154.23 Mn | 18.66% |
| 6 | MiniMed | 4.19 Bn | 3.89 Bn | 480.00 Mn | -22.10% |
| 7 | Waystar Holding | 4.14 Bn | 4.07 Bn | 216.84 Mn | 13.79% |
| 8 | Doximity | 3.82 Bn | 3.08 Bn | 125.97 Mn | 13.15% |
| 9 | Privia Health | 3.10 Bn | 2.73 Bn | - | 0.61% |
| 10 | Omnicell | 1.81 Bn | 1.57 Bn | 140.36 Mn | 3.67% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 13.79% |
| Dec 31, 2025 | 6.58% |
| Sep 30, 2025 | 11.41% |
| Jun 30, 2025 | 11.89% |
| Mar 31, 2025 | 11.41% |
| Dec 31, 2024 | 7.82% |
| Sep 30, 2024 | 2.25% |
| Jun 30, 2024 | -11.80% |
| Mar 31, 2024 | -7.09% |
| Dec 31, 2023 | -6.97% |
| Sep 30, 2023 | -7.85% |
| Jun 30, 2023 | -5.52% |